Tesoro.vc, in partnership with the City of Phoenix, the Greater Phoenix Economic Council (GPEC) and StartupAZ, is proud to announce the launch of its groundbreaking startup accelerator. This visionary initiative aims to position Arizona as a premier national and global hub for technology startups. Headquartered in Phoenix, one of the fastest-growing cities in the United States, Tesoro.vc is redefining the entrepreneurial landscape by leveraging local talent, robust resources and an expansive global network.
Building a Thriving Ecosystem Through Collaboration
Tesoro.vc’s strategic partnerships with Phoenix, GPEC and StartupAZ provide entrepreneurs with access to an unparalleled network of resources and expertise. By uniting economic development leaders, policymakers and startup advocates, these partnerships foster innovation, accelerate growth and attract high-quality deal flow and capital investment to the region. Together, they aim to support founders at every stage of their entrepreneurial journey.
“Arizona is at the tipping point of becoming a global startup leader,” said Andy Lombard, founder and CEO of Tesoro.vc. “Tesoro Accelerator is the catalyst we need to transform ideas into companies that will shape the future. We’re thrilled to collaborate with our incredible partners to ensure entrepreneurs have the tools, mentorship and investment they need to succeed.”
Why Now?
Phoenix, the fifth-largest city in the U.S., is at the forefront of transformative growth in semiconductors, climate technology and other advanced manufacturing. Despite this progress, Greater Phoenix has lacked a comprehensive early-stage accelerator to harness and expand its entrepreneurial momentum. With more than $2 billion in available capital and a rapidly expanding network of venture capital investors, Tesoro.vc is addressing this critical gap — offering a platform to propel Arizona’s tech ecosystem to new heights.
“From excellent coworking spaces to a collaborative entrepreneurial environment, Phoenix continues to demonstrate why we are one of the best cities for startups nationwide,” said Phoenix Mayor Kate Gallego. “With strong interest, growth, and ideation booming across the semiconductor, climate-tech, and healthcare sectors, there’s never been a better time to invest in and scale the great companies emerging from our community.”
Tesoro will add a complementary component to a VC ecosystem that has seen consistent growth over the last several years. Greater Phoenix has attracted more than $1 billion in venture capital investment in each of the last seven years — a number that had never been reached prior to 2018 — and the median deal size and median company valuation post-funding in 2024 were both record highs for the region.
“Greater Phoenix is home to a vibrant and rapidly expanding tech sector, and Tesoro Accelerator offers a new avenue for early-stage startups to access funding and critical guidance,” Chris Camacho, President and CEO of GPEC. “By attracting and developing top-tier startups, Tesoro will amplify the region’s reputation as a premier location for innovation and investment.”
Turning Ideas into Treasures
True to its name, which translates to treasure, the Tesoro accelerator partners with visionary founders worldwide to create impactful, innovative companies. Tesoro.vc bridges Arizona’s burgeoning potential with the vibrancy of established entrepreneurial hubs across the U.S. and beyond, fostering a culture of innovation, mentorship and investment.
Tesoro.vc’s leadership team is backed by a proven track record of success. At the helm is Lombard, who created the Arizona Innovation Challenge (AIC) and the Venture Ready Accelerator (VR), and is credited with accelerating 150 startups, deploying $25M in capital, and building a portfolio valued at $6 billion.
Key Features of Tesoro Accelerator
- Program Structure: A 12-week accelerator program designed to prepare early-stage companies for venture capital investment.
- VC Demo Day: Partnership with over 70 VC firms to facilitate investments into graduating startups.
- Silicon Valley Immersion: A one-week immersion program offering founders exposure to top-tier investors and startup ecosystems.
- Batch-Based Model: Two startup cohorts annually, supporting up to 100 startups per year.
- Global Resources: Access to international networks, partnerships and capital opportunities.
- Post-Program Support: Ongoing advisory services, alumni engagement, mentorship and tailored demo days.
- Operational Excellence: Comprehensive legal, financial, marketing and recruiting services to drive scalability.
- Thought Leadership Events: Bi-annual conferences featuring insights from global innovators and entrepreneurs.
