At yesterday’s kick off of the Silicon Slopes Tech Summit, the Utah technology industry and Utah tech entrepreneurs were delivered a surprise dish of investment news with the launch of The Silicon Slopes Venture Fund. Utah is home to a select group of venture funds with strong track records and the Silicon Slopes Venture Fund offers
The funds two-fold focus is on supporting a diverse array of start-up companies and entrepreneurs in Utah, collaboratively building up a tech ecosystem in Silicon Slopes and the State of Utah. Because driving diversity in Utah’s tech ecosystem is a core component of the fund the fund encourages supporting a diverse set of entrepreneurs that will include female and minority run businesses.
The fund group will also donate a large portion of investment on returns and fees to support ongoing operation of the non-profit tech organization, Silicon Slopes. As a non-profit organization, Silicon Slopes goal is to making entrepreneurship open and accessible to all by empowering Utah’s tech community by enabling, encouraging, and supporting opportunities to learn, connect and serve with the
The Silicon Slopes Venture Fund was spearheaded by Omniture co-founder and Domo founder and CEO Josh James, Qualtrics co-founder and CEO Ryan Smith, and Pelion Venture Partners General Partner Jeff Kearl. The fund aims to work in collaboration with other Utah founders and investors to accelerate the most promising companies in Utah’s tech community.T
“As leaders who have each found success building businesses in Utah, we’re always looking for ways to make the community stronger and give back, particularly to the next generation of technology entrepreneurs,” said Josh James. “We often spend time meeting with different founders, sharing our mistakes and observations. Sometimes we invest. Partnering with Pelion, where Jeff is a full-time investor, allows me to stay focused on Domo, Ryan to stay focused on Qualtrics, and at the same time continue to invest in startups that deserve both expertise and capital.”
Working in collaboration with Utah founders and investors, The Silicon Slopes Venture Fund looks promising as a program designed to accelerate the most promising companies in Utah’s tech community.