The fastest-growing region in the state, Northwest Arkansas, has become the target for an out-of-state venture capital firm that recently held its second annual Midcontinent Venture Capital Summit in Bentonville. Cortado Ventures out of Oklahoma City partnered with NWA organizations Runway Group and Visit Bentonville to bring the summit on Thursday, May 9, as well as the nonprofit Foundation for Unleashing the Startup Ecosystem (FUSE).
“It was a great mix of people that are building companies and those who invest in them,” said Nathaniel Harding, managing partner at Cortado Ventures.
He said the event drew 370 people from 30 states representing $1.5 trillion in total investable capital across investors, founders, builders and backers. Aiming to promote the growth of the startup technology industry outside of the coastal areas that have dominated for so long, Harding says Bentonville has “a few key ingredients.”
Those are quality of life, a friendly business environment for early-stage investing, corporations interested in innovation and a university that’s “really leaning in” in the University of Arkansas.
“Now a ton of people who really matter and who focus on venture capital investing and startups, now they know that Bentonville is a big destination for early-stage investing,” Harding said.
Harding claims the attention could attract more talent and capital into the region, encouraging job creation and innovation from outside firms such as his.
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