Las Vegas is becoming a haven for entrepreneurs, with founders like Lucihub’s Amer Tadayon praising the city for its robust startup ecosystem, approachable investors, and a thriving spirit of collaboration.
Tadayon, who has established multiple businesses in California and Arizona but only found success in securing investment in Nevada, describes Las Vegas as “one of the best places I’ve ever been to be an entrepreneur.”
He emphasizes the importance of community in the local startup scene: “You’re not just a number here; you go to one of these competitions and see many talented people, and there’s a genuine interest in connecting all these people.”
This enthusiasm is backed by statistics. The total valuation of Las Vegas-area startups surged from $1.9 billion in 2014 to an impressive $19 billion in 2024, reflecting a significant boost in investor confidence. This information comes from a report by UNLV’s Lincy Institute released in June. From 2020 to 2023, Las Vegas ranked fifth in the nation for startup investment growth, showcasing a notable trend that underscores the city’s potential as a startup hub.
Much of this growth can be attributed to the state’s innovative initiatives to facilitate startup investment. The establishment of the “Nevada certified investor” classification in 2023 enabled non-U.S. Securities and Exchange Commission-accredited investors to invest in Nevada-based companies. Furthermore, the emergence of incubators and venture capital sources has dramatically increased in Las Vegas over the last decade.
Entrepreneurs, drawn by a cost of living significantly lower than that of Silicon Valley, often find themselves pleasantly surprised by the robust support network, according to Jeff Saling, the executive director of StartUpNV, a local business incubator and accelerator.
Saling captures a sentiment echoed by many newcomers: “There’s this moment that I see in almost all of the folks who come here, and they almost all use these four words: ‘I had no idea.’”
However, challenges remain. Las Vegas still lacks the deep pool of software and engineering talent seen in more established entrepreneurship hotspots. Yet, there are indications that this is beginning to change. CompTIA’s 2025 State of the Tech Workforce report predicts a 4.7 percent growth in tech hiring in the Las Vegas area, the highest rate among U.S. cities.
Against this backdrop, Las Vegas is experiencing a wave of innovation, particularly in startup sectors that leverage artificial intelligence. Companies focusing on AI, software-as-a-service, and business-to-business sales are well positioned to attract investment both locally and nationally.
In 2023, one notable startup standing out in these trends is Lucihub, founded by Amer Tadayon. This hybrid video production platform, described as the “Canva for video,” uses a blend of AI tools and human editing to help enterprises produce high-quality videos quickly and affordably without needing specialized expertise.
The platform’s features include Lucihub’s “creative copilot” pre-production tools that assist users in generating scripts, shot lists, and voiceovers. After inputting footage—often filmed on mobile devices—into Lucihub’s production cloud, human editors deliver a final cut within 72 hours.
Tadayon’s vision focuses on enhancing video production efficiency through AI while preserving human creativity. “You know your brand and your story better than anyone else ever will,” he asserts.
Lucihub, founded in 2022, has already achieved $400,000 in annual recurring revenue, with aspirations of reaching $1 million by 2025. The company successfully raised $2 million from various sources, including StartUpNV and Battle Born Venture, Nevada’s venture capital program. Currently, Lucihub is seeking an additional $2 million, with funding again coming from Nevada-based sources.
StartUpNV’s 1864 Fund recently announced a significant investment of $500,000 in Lucihub as part of the ongoing funding round. Established in 2021, this fund is emblematic of an emerging financial ecosystem designed to support entrepreneurs in Nevada.
In a remarkable development in October 2024, the AI GPU cloud platform TensorWave secured a historic $43 million SAFE (Simple Agreement for Future Equity) funding round, marking the largest SAFE funding in Nevada’s startup history, bolstered by financial support from StartUpNV.
Piotr Tomasik, co-founder and President of TensorWave, reflects on the evolving landscape of talent migration: “I’ve been a part of startups in Las Vegas for the last, I don’t know, 15 years. It’s definitely hitting a nice little crescendo.”
Part of this momentum can be traced back to the creation of the Nevada Governor’s Office of Economic Development (GOED) in 2011, which has played a crucial role in diversifying the state’s economy and establishing infrastructure that supports entrepreneurs.
Karsten Heise, senior director at GOED, noted, “We didn’t have entrepreneur support organizations like StartUpNV a decade ago; now, we have multiple entities providing support.”
Additionally, Nevada’s Battle Born Growth Escalator program enhances funding opportunities by matching venture capital investments for startups, further empowering companies like Lucihub.
It is essential to highlight the state’s strategic initiatives aiming to bolster small business development. For instance, GOED has been actively supporting the Las Vegas accelerator Zero Labs to enhance Nevada’s high-tech sector.
An influx of skilled workers coupled with increased venture capital availability has created fertile ground for startup growth in Nevada, according to Kyle Ferguson, chief program officer of the Battle Born Growth Venture Capital Fund.
“We’re seeing a blend of resources aligning with solid ideas emerging in Las Vegas and across Nevada,” he said. “In the past 10 to 15 years, we have witnessed a diversification not only in the types of companies that are coming but also in the pool of investors.”
Ferguson believes that Nevada is not just a follower of national trends. The state is witnessing growing interest in sectors like medical device manufacturing and battery technology. In a collaborative effort, GOED and UNLV are teaming up with a global venture firm to launch the Electrify Nevada Accelerator, aimed at supporting startups in sustainable energy and battery technology.
Ongoing efforts by GOED focus on supporting innovation and eliminating barriers for Nevada entrepreneurs seeking to raise capital. Heise and Ferguson emphasize the importance of attracting businesses that will create jobs and contribute to the local economy.
Ferguson stated, “We want to see battery manufacturers; we want to see people buying buildings, hiring staff, and planting their feet in Las Vegas and in the state.”
Looking towards the future, local officials are working to attract out-of-state investment in Nevada’s startups, aiming to increase activity in the deep tech sector while fostering collaboration among venture capitalists.
“Build your company in Nevada,” Heise encourages, highlighting the supportive business environment. “You can license technology from a federal lab elsewhere, but building your company here is advantageous; the state is business-friendly and the capital is available.”
Overall, as Las Vegas and Reno evolve into prominent tech hubs, supported by affordable living costs, growing talent pools, and robust funding opportunities, the future looks bright for entrepreneurs in the Silver State.
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