Startup Central – Tucson’s Entrepreneurial Ecosystem
Startup Success Strong Entrepreneurial Ecosystem Yields Record New Ventures By Darci Slaten
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Tucson is home to a robust entrepreneurial ecosystem that enables new companies and ideas to launch and thrive, thanks to the efforts of a vast academic and techdriven network across the University of Arizona along with groups such as Desert Angels, BlueStone Venture Partners, DVI Equity Partners and more. In fact, in FY 2020, a record 19 new ventures were launched out of UArizona alone, through Tech Launch Arizona, despite the COVID-19 pandemic. “This accomplishment is the result of strategic collaborations between inventors and the right mentors, experienced entrepreneurs, and other community collaborators,” said Douglas Hockstad, assistant VP for Tech Launch Arizona. BizTucson asked several key players in the region to reflect on Tucson’s standing as an innovative, supportive home base for startups.
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Tucson’s Progress
What progress within your organization has placed Tucson in a position of entrepreneurial strength? “Even during the pandemic, innovation and entrepreneurship at UArizona haven’t slowed,” said Hockstad. Among the 19 new startups, two repositioned themselves to directly address the pandemic: Botanisol Analytics and SaiOx. At the start of the COVID-19 crisis, “incubators across the nation made the assumption that startup activity would drop as entrepreneurs rarely make a salary at the beginning of their journeys, and there would be an increased need for them to get paid jobs,” said Eric Smith, executive director of
UArizona Center for Innovation. “Across the nation, incubators saw 40 to 60% of their startups go out of business, but we have not lost one to date here at the UA Center for Innovation. “About 50% of the startups we serve are UArizona affiliated startups and the other half come from the larger Tucson community. We also serve a handful of startups from around the nation and globe.” Liz Pocock, CEO of StartUp Tucson, said, “We have launched several initiatives designed to support entrepreneurs – especially those who have had to pivot during the pandemic. For example, we have developed a ‘Startup Fundamentals Series,’ added new technical workshops and revamped our mentorship program.” Desert Angels pivoted quickly after the pandemic hit, moving business online while still making a positive impact. continued on page 74 >>> www.BizTucson.com