Can Las Vegas become a tech hub? Entrepreneurs see progress — and obstacles

A growing network of investors, incubators and successful entrepreneurs is helping Las Vegas build a technology startup ecosystem, though Nevada continues to trail other states in venture funding, academic research and technical talent. The city has long sought to diversify its tourism-driven economy, and several leading founders now say that goal is within reach.

"Absolutely. It's come a long way," said Piotr Tomasik, a UNLV graduate and co-founder of TensorWave, a Las Vegas-based artificial intelligence cloud platform. The company raised a state-record $350 million in Series B funding this year at a post-money valuation of $1.55 billion, earning unicorn status. "I really appreciate how our community embraces people that are trying to do big things. I know that's not the case elsewhere. We're trying to invest back into everything here so that we can build a thriving ecosystem of entrepreneurs and thinkers and diversify the economy."

Tomasik pointed to multiple venture capital groups now operating locally, including StartUpNV, Desert Forge Ventures and the Battle Born Growth program managed by the Governor's Office of Economic Development. The city also has startup incubators and accelerators such as Zero Labs at UNLV's Black Fire Innovation and Roseman Bioventures at Roseman University, along with events hosted by nonprofits Tech Alley and StartUp Vegas.

Startup research platform StartupBlink ranked Las Vegas No. 2 worldwide in startup community activity this year and No. 23 in U.S. ecosystem rankings. Technology employment in the valley is projected to grow at the highest rate in the country this year, according to CompTIA. A 2024 report by UNLV's The Lincy Institute showed total local startup valuations increased tenfold from $1.9 billion in 2014 to $19 billion in 2024, identifying Las Vegas as one of the five fastest-growing startup ecosystems nationally.

Former UNLV President Len Jessup said that report inspired him to launch Desert Forge Ventures, which closed its early-stage Fund 1 at $10 million in 2025. "What that study showed was a hot ecosystem with a lack of funding. It didn't have proper local venture capital," Jessup said. Tomasik, who had a $500 million exit from the Las Vegas-based influencer platform Influential in 2024, said he started StartUp Vegas to rekindle the entrepreneurial energy from the late Tony Hsieh's Downtown Project.

Sources: Las Vegas Review-Journal