University of Nevada, Las Vegas

This EDA investment will support the Scarlet Venture Fund, an early-stage funding source for innovation-based, growth-oriented companies in Clark County, Nevada. The fund will provide investments ranging from $25,000 to $1 million to selected startups. It will focus on diversifying the state’s economy through support of high-tech innovations and technologies commercialized from university spinouts.

Project objectives include: building the fund’s organizational structure, creating a sustainable business model for the fund, and developing a student-education program within the University of Nevada, Las Vegas (UNLV) Office of Economic Development. Program staff will seek investments from champions of UNLV (donors, trustees, and alumni), corporate venture capital sources, angel groups, and accredited investors, with support from public and private sector partners. By leveraging existing programs and collaborating with accelerators and mentors across the region, the Scarlet Venture Fund aims to unify Nevada’s startup ecosystem, generate job opportunities for a diverse population of students and residents, and drive economic growth and diversification in southern Nevada.