Over the last several years, Greater Phoenix has grown as a hub for startups and tech ventures. The region has attracted record venture capital investment, deal size and company valuation as it finds its place among the other national leaders.
Despite this growth, there has been a missing component to the startup ecosystem: a comprehensive early-stage accelerator that accelerates the entrepreneurial momentum of the market.
Tesoro.vc looks to solve this. The company, launched last month by Arizona Venture Development Corporation founding CEO and co-founder of the Arizona Innovation Challenge and Venture Ready Accelerator Andy Lombard, is offering access to guidance and funding opportunities for early-stage startups, with offerings that include a 12-week accelerator program, a VC demo day and global resource connection.
“Arizona is at the tipping point of becoming a global startup leader,” Lombard said in a statement. “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.”
Tesoro Accelerator is a partnership between Tesoro.vc, the city of Phoenix, StartupAZ and the Greater Phoenix Economic Council.
“From excellent co-working spaces to a collaborative entrepreneurial environment, Phoenix continues to demonstrate why we are one of the best cities for startups nationwide,” says 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.”
Greater Phoenix has attracted more than $1 billion in venture capital investment each year over the last seven years, a figure the region had never reached prior to 2018. The median deal size and median company valuation post-funding 2024 were both record-highs for the region.
Tesoro.vc will add a complementary component to this burgeoning ecosystem.
“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,” says 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.”
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.
