Arizona Startup Leaders Form Arizona Venture Alliance

PHOENIX, AZ (December 16, 2024) - Today, roughly two dozen investors, founders, and economic development and nonprofit leaders came together to launch a new coalition dedicated to advancing Arizona's startup ecosystem. The Arizona Venture Alliance (AVA) will work to promote Arizona's startup and investor ecosystem, exponentially increase funding for Arizona startups, and grow deal flow for investors both inside and outside Arizona.

At a charter signing event held at the Arizona Commerce Authority, founding members of the AVA expressed their commitment to making Arizona the No. 1 state in the nation for startups and investors.

"Over many years and with the support of countless individuals, Arizona's startup ecosystem has grown exponentially. Today represents the critical next step in our work to support startups and small business owners," said Sandra Watson, President and CEO of the Arizona Commerce Authority. "The Arizona Venture Alliance builds on efforts over the last 18 months to integrate and scale strategic efforts across our ecosystem and develop overarching goals for advancement. We're thankful to all our amazing partners and are excited for the important work ahead."

The Arizona Venture Alliance will work to expand access to investor networks for Arizona startups and amplify and promote individual and partner events.

The strategic goals of the AVA within the next three years include:

• Supporting five unicorns (Arizona startups valuated at $1 billion)
• Relocating over 50 startups to Arizona
• Catalyzing at least $500 million in private investment to Arizona startups

"The Arizona Venture Alliance is an essential mechanism for accelerating the alignment and growth of Arizona's values-based economy across many industries. Great companies are starting and scaling here, in large part because Arizona has exceptional technical talent and is a wonderful place to raise a family and craft enduring friendships for life," said Don Fotsch, Founder, Arizona Nerd Network and AVA Founding Member.

"We look forward to leveraging the strength of our collaboration in the AVA and all its partners to help grow and diversify Arizona's startup ecosystem," said Justin Bayless, Managing Principal, Ten Figures and AVA Founding Member.

"The Arizona Venture Alliance builds on years of collaborative, strategic efforts to integrate and scale the incredible work taking place in our ecosystem statewide. Startup Tucson is honored to be a part of such a dynamic group of partners, working to take Arizona's ecosystem to the next level for all types of entrepreneurs," said Liz Pocock, CEO, Startup Tucson and AVA Founding Member.

"AVA plays a critical role in uniting all the amazing groups within the Arizona tech ecosystem, and helps us punch above our collective weight," said Jack Selby, Managing Partner, AZ-VC and AVA Founding Member.

"Golden Seeds is excited to collaborate with trusted partners in the Arizona startup ecosystem to ignite the growth of amazing, Arizona-based companies through the AVA initiative," said Kathy Lynn-Cullota, Managing Director, Golden Seeds and AVA Founding Member.

"We know firsthand the power of a community working together to foster opportunities for entrepreneurs of all backgrounds," said Mike Randall, Co-Founder & Managing Partner of Monsoon Ventures and AVA Founding Member. "The Arizona Venture Alliance is bringing together the key players to galvanize that support, and we're proud to be part of driving tomorrow's economy today."

"Pangaea Ventures relocated its U.S. office to Phoenix five years ago to leverage Arizona's venture capital and start-up ecosystem. Since then, the growth in venture capital and hardtech start-ups has exceeded even our expectations. Pangaea is proud to be a founding member of the Arizona Venture Alliance and looks forward to making more investments in the state," said Chris Erickson, General Partner, Pangaea Ventures and AVA Founding Member.

"We are proud to join the Arizona Venture Alliance (AVA), a robust statewide coalition working to promote Arizona's startup and investor ecosystem," said Azin Radsan van Alebeek, General Partner and Co-Founder, Emmeline Ventures and AVA Founding Member.

"Enhancing collaboration among Arizona's investors in early stage companies will speed the funding of Arizona's very best startups, enabling them to focus on growing their businesses," said James Goulka, President and CEO, Arizona Venture Development Corporation and AVA Founding Member.

"As we reflect on the journey of Venture Madness, it's clear that Arizona has undergone a remarkable transformation into a thriving hub for tech innovation," said Karen Katzorke, President & CEO of Venture Madness and AVA Founding Member. "Since 2014, we've seen over $1 billion in funding raised for Arizona-based startup and emerging growth companies, with 43% securing investment and nearly 200 companies who have established a presence here. At the same time, participation of investors and funds has more than doubled, highlighting the increasing strength of Arizona's investment activity and vast potential with our entrepreneurial landscape."

"We are proud to join the Arizona Venture Alliance (AVA) as it will elevate our state's unique advantages - strategic location, talent, infrastructure, and military installations - offer an unparalleled opportunity to develop, prototype, test, and deploy new dual-use technology. The AVA demonstrates another critical step in collaboration and innovation, elevating Arizona's efforts to impact on the global stage," said Drew Trojanowski, CEO, Southwest Mission Acceleration Center and AVA Founding Member.

"The NSF Engines: Southwest Sustainability Innovation Engine (SWSIE) is proud to join the Arizona Venture Alliance (AVA)," said Brian Sherman, CEO, SWSIE and AVA Founding Member. "We look forward to bringing energy, water, and carbon startup dealflow to our partners in AVA, and leveraging the strength of this collaboration to grow our cleantech ecosystem in the Southwest."

"Arizona's entrepreneurial ecosystem has become one of the most dynamic and innovative in the nation, fueled by collaboration, investment, and bold ideas," said Danny Seiden, President and CEO, Arizona Chamber of Commerce & Industry and AVA Founding Member. "The launch of the Arizona Venture Alliance marks a critical next step in scaling the resources and capital needed to take Arizona's startup community to the next level-ensuring innovative ideas continue to grow, businesses thrive, and Arizona's economy remains a national leader in job creation and opportunity."

"We are thrilled to be part of the Arizona Venture Alliance. Sandra Watson and the entire Arizona Commerce Authority team have been working tirelessly to make Arizona an excellent place for business," said Saeed Amidi, Founder and CEO of Plug and Play. "We are honored to contribute to the acceleration of venture capital, entrepreneurial activity, and corporate innovation to achieve the ambitious goals set by this coalition."

"We're really proud to be part of the Arizona Venture Alliance," said Tom Schumann, Executive Director of Center for Entrepreneurial Innovation and AVA Founding Member. "This launch represents a milestone for our ecosystem, and it's a great start by the ACA to pull us all together to achieve some wonderful goals."

"Arizona's venture ecosystem has grown exponentially, fueled by the ingenuity of entrepreneurs from every corner of the state, including its vibrant rural communities. At Moonshot, we're proud to partner with the Arizona Venture Alliance (AVA) to ensure that rural innovators have a seat at the table, unlocking new opportunities for funding, mentorship, and collaboration. Together, we are building a more inclusive and impactful startup landscape that represents the full potential of Arizona," said Scott Hathcock, President & CEO, Moonshot and AVA Founding Member.

"We're proud to join the Arizona Venture Alliance (AVA), a robust statewide coalition working to promote Arizona's startup and investor ecosystem, and the Phoenix Bioscience Core is augmenting translational science happening within our ecosystem," said Scarlett Spring, Executive Director, Phoenix Bioscience Core and AVA Founding Member.

"In the last decade, Arizona's entrepreneurial ecosystem has experienced tremendous growth. The ACA has been a champion for this momentum by supporting projects, initiatives, and groups to take us to the next level. Collaboration with the ACA, and their goals, provides critical focus for the work our community is doing, leading to greater impact," said Katie Sieker, Executive Director, yesPHX and AVA Founding Member.

"The Arizona Venture Alliance is a leap forward as our startup ecosystem continues to mature. The angel investors at Arizona Tech Investors (ATI) are delighted to contribute to this statewide coalition," said Bob DeLean, Chairman & Executive Director, Arizona Tech Investors (ATI) and AVA Founding Member.

"As an Angel Investor for 15 years in Arizona, the ACA has led to a maturity in the quality of companies directly attributable to their support of entrepreneurs through multiple programs like the Arizona Innovation Challenge and Venture Madness," said Tim Kelley, Chairman and Founding Member, Canyon Angels and AVA Founding Member.

"As someone who was born and raised in Arizona, I am deeply honored to join the Arizona Venture Alliance (AVA) and contribute to the continued growth of the state's thriving venture ecosystem," said Allen Smith, Managing Partner, Musa Capital and AVA Founding Member. "Arizona has experienced tremendous progress over the last decade and beyond, a testament to the dedicated efforts of our vibrant startup community and the unwavering support of a robust network that nurtures some of the world's best and brightest entrepreneurs. The AVA builds on years of strategic collaboration across local government and private business, uniting leaders across the state to massively increase funding for Arizona startups and create unparalleled opportunities for investors both inside and outside our borders. Under the leadership of the Arizona Commerce Authority we are setting massive goals that will ensure measurable impact for our entrepreneurs and early-stage ventures. Having grown up in this incredible state, I am thrilled to now have the opportunity to give back by working alongside the AVA's inspiring partners to scale and integrate the transformative work happening here. Together, we will drive impactful investments, champion our innovative entrepreneurs, and propel Arizona's startup community to a future brimming with opportunity and success."

Founding members of the Arizona Venture Alliance at the charter signing event held on December 16, 2024.

Media Contact

Alyssa Tufts, Arizona Commerce Authority, [email protected]

About the Arizona Commerce Authority
The Arizona Commerce Authority (ACA) is the state's leading economic development organization with a streamlined mission to grow and strengthen Arizona's economy. The ACA uses a three-pronged approach to advance the overall economy: attract, expand, create - attract out-of-state companies to establish operations in Arizona; work with existing companies to expand their business in Arizona and beyond; and help entrepreneurs create new Arizona businesses in targeted industries. For more information, please visit azcommerce.com and follow the ACA on Twitter @azcommerce.

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