A new venture fund is stepping onto the scene in Las Vegas, with the goal to close the funding gap for Nevada startups.

The Nevada Governor’s Office of Economic Development, the University of Nevada, Las Vegas, and global venture firm and startup accelerator gener8tor today announced the launch of the Electrify Nevada Accelerator Powered by gener8tor. This initiative will support early-stage startups developing innovative energy solutions, with a particular focus on advanced battery technology and sustainable energy systems, leveraging Nevada’s unique position in the global energy market.

On Oct. 4, the U.S. Small Business Administration announced that it had selected Nevada as one of six new states to win a FAST Partnership Program grant, which supports technology-driven small businesses in turning their research and development expertise into commercial products. The Nevada Governor’s Office of Economic Development (GOED) architected the grant application, which builds upon the Sierra Accelerator for Growth and Entrepreneurship (SAGE), a statewide program housed at the University of Nevada, Las Vegas and the University of Nevada, Reno. This is the first time that Nevada has won a FAST grant since 2019.

The climate crisis continues to deepen throughout the Southwestern U.S. as severe heat waves and dwindling groundwater reserves threaten the vitality, livability, and economic future of the growing region. It’s an unfavorable prognosis that requires the intervention of invention.