If you've ever driven to Las Vegas, you know the euphoric feeling that accompanies the journey. When you see the light at the top of the Luxor Hotel & Casino piercing the dark desert sky, you know you have finally made it. And if you're a startup in Sin City, Iron Yard Ventures is about to provide you with the light at the end of your tunnel: a hospitality accelerator.
Iron Yards Ventures has announced that they will be bringing a hospitality-focused accelerator to downtown Las Vegas. They aim to help top, early-stage startups thrive in the gaming, casino and hospitality industries that make Las Vegas the tourist attraction it so rightfully is. They will be aided by some of the most esteemed mentors and investors in the business, so startups can blow up in a way that coincides with the city's explosive personality.
When it comes to the infamously thriving Las Vegas hospitality industry, innovation still reigns supreme. And with the highest-paid accommodation and food service employees in the country, demand is high for the next big thing. This makes the need for an accelerator that much more pressing for the downtown Las Vegas area.
Industry standards are changing across the landscape of hospitality and gaming because of these burgeoning startups. From facial recognition technology to social media compatible games, the next casino tech breakthrough could be just around the corner. Iron Yard Ventures hopes to cultivate a supportive ecosystem for the center of the global hospitality industry by building sustainable businesses that add value to their customer's lives.
To ensure a smooth transition by fall 2016, Iron Yard Ventures has brought on Ryan Negri as the managing director of their Las Vegas operations. His experience in the hospitality industry, along with his mentoring and funding prowess, will bring the expectations for this accelerator that much higher.
“Las Vegas has tremendous potential especially in the hospitality industry. It's an industry that's yearning for new, viable technological solutions I'm excited to be a part of this revolution,” said Negri in a statement.
Iron Yards Ventures has an impressive history of creating value out of startups. Since 2012, they have invested in 50 early stage startups, which have subsequently raised $70 million in follow-on capital. In the last two years, they have even been named one of the top startup accelerators in the country. And while word play is the worst, it looks like Iron Yard Ventures has hit the jackpot once again.