PUBLIC APPLICATIONS FOR SPRING 2021 ARE NOW OPEN
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Where is InNEVator located?
The University of Nevada, Reno Innevation Center in downtown Reno, Nevada. All companies must be present to participate. Given the COVID-19 pandemic, the Spring 2021 program will likely to be a hybrid with some workshops in person and other events online.
When does the program occur?
Spring (March-April) each year. Follow RenoInNEVator.com for updates.
How many companies are usually selected per program?
Three to five companies are usually selected per program. We choose the right companies, not a specific number.
What’s the deal?
Each company will provide notes or equity in exchange for a minimum cash investment of $20,000. In addition, to help cover our costs for the program, each company will provide notes or equity in exchange for $15,000 equivalent of in-kind services. In reality, we spend twice this amount on each company.
Do we need to be a US C-Corp?
Our preference is to fund companies that are C-Corps, but we have put together funding instruments that allow for incorporation during the program. We have also invested in some non-US companies that have the equivalent structure of a C-Corp.
How will you value our company?
Depending on the status of the company, the valuation or cap can range between $800k and $3.5M. At the higher end, we need to see investment from accredited investors to back up the valuation. We strive to make a deal that works for everyone.