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AZ Tech Beat | May 20, 2018

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AZ Startups Need Muscle and Money

Tishin Donkersley

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Is there money in Arizona to fund startups? Well where is it? This was the main question posed at the Phoenix Business Journal’s Tech Titans event Thursday evening to leaders in the sector. According to the Journal’s article “Show Me the Money” Francine Hardaway, co-founder and partner at tech accelerator Stealthmode Partners in Chandler, believes that venture capitalists are willing to fund startups, but they have to be worth the investment and have a solid team behind the company. “A good startup requires a team that knows what it is doing, a large market, and a minimum viable product,” she stated.

Parchment CEO Matthew Pittinsky noted in the article that community support is a must have for Arizona startups to thrive, and mentors and angels need to be willing to “roll up their sleeves and help early-stage tech companies.”

Startups in the sector expressed frustration with the lack of resources available to them. However, many organizations and tech leaders are addressing this issue by creating co-working spaces, programs at the universities, startup competitions, and various local networking events to connect talent and mentors.

What else is the startup sector lacking in terms of resources? Share your thoughts below and on our Facebook page.

To read the complete “Show Me The Money” article visit Phoenix Business Journal.