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Inaugural Riverside Angel Summit brings region together to invest in its own startups

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The most promising startup as judged by Angel Investors will receive over $100,000 in investment

The Riverside Angel Summit initiative led by UC Riverside in partnership with the City of Riverside and local community leaders aims to strengthen the angel investment culture in Inland Southern California by connecting investors to high-quality, vetted entrepreneurs. 

The program seeks to demystify the process of equity investment by providing interested potential angel investors a combination of training, workshops on best practices, and networking opportunities with seasoned investors and business executives who will guide them through the angel investment process. Through the creation of a special purpose vehicle managed by Citrus Seeds LLC led by Sean Varner, managing partner of Varner & Brandt LLC Riverside; and Kevin Kelly, former CFO for Johnson Machinery, who will serve as fund manager; the Riverside Angel Summit will provide early-stage angel investors the opportunity to invest as a group and enhance their investment skills and network.  

“We have seen how entrepreneurship transforms communities. The Riverside community has worked for years to find the right platform to encourage local investment in emerging businesses and retention of entrepreneurs in our community. The Riverside Angel Summit and Citrus Seeds represents the most viable opportunity to achieve these goals we’ve seen yet. I am excited to see this platform make significant contributions to the Riverside entrepreneurial ecosystem,” Varner said.

Startups that participate in the Summit will benefit from a two-month educational program, due diligence process, and a chance to compete in a final pitch competition for a $100,000 investment by Citrus Seeds LLC.  

The program officially kicked off on Sept. 6 and will culminate with The Summit Conference on Thursday, Nov. 4, 2021, where the six startup finalists will pitch.  

The event is co-chaired by Riverside Mayor Patricia Lock Dawson and UC Riverside Chancellor Kim A. Wilcox.  

“Our goal with this initiative is to continue our momentum toward making Riverside an innovation hub that will gain international recognition,” Lock Dawson said. “As a co-chair of the Riverside Angel Summit, I look forward to strengthening Riverside’s entrepreneurial ecosystem, one that supports new discoveries and development of innovative high-tech solutions to worldwide problems.”

UCR’s Office of Technology Partnerships through its EPIC Small Business Development Center will lead the organization of the summit and the delivery of the educational program. The initiative is supported in part by a three-year grant from the Economic Development Administration’s Regional Innovation Strategies Seed Fund Support, or SFS.  The SFS grant, awarded to UCR, aims to increase access to capital to inland Southern California.

“Access to capital is essential for startups to scale and succeed as businesses,” said Rosibel Ochoa, UC Riverside associate vice chancellor of technology partnerships. “A robust local investment community is critical to help startups grow and roots them in a location where they can thrive. The Riverside Angel Summit will bring together funding and startups to strengthen the region’s entrepreneurial ecosystem.”
 
The Inland Empire has seen significant growth in technology-focused entrepreneurship over the past five years. UCR has contributed to this effort by leveraging over $22 million in federal, state, and private funding to bolster the region’s innovation ecosystem. Its portfolio of entrepreneurial programs, including the EPIC Small Business Development Center, combined with its more than 15 experience Entrepreneurs-in-Residence has helped launch over 45 startups that have raised more than $70 Million in private capital and grants with the majority of investment coming from outside the region.

“UCR is proud of its continuing efforts to leverage the talent of our world-class research, faculty, and students,” Wilcox said. “The Riverside Angel Summit will help build support for those same scientists and scholars as they commercialize their discoveries.” 

The Riverside Angel Summit will hold a series of 13 workshops to help prepare startup founders to become more proficient in pitching investors and raising equity capital.  For more information visit  riversideangelsummit.com .
 

The Inland Empire Business Journal (IEBJ) is the official business news publication of Southern California’s Inland Empire region - covering San Bernardino & Riverside Counties.

Business

Supported by Local Leaders, CALED’s Annual Conference will be in Ontario this May

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Empowering Economic Growth: CALED Conference Set to Unite Industry Leaders in Ontario

CALED’s ‘Growing Local Economies from the Ground Up’ Conference is being held in Ontario at the DoubleTree by Hilton Hotel Ontario Airport on May 7-9. This event is co-hosted by the City of Ontario and San Bernardino County, with Jennifer McLain Hiramoto, CALED’s Chair of the Board and Derek Armstrong respectively representing their city and county as Co-Chairs of the event.

With over 950 members and 45 years of empowering economic developers, CALED is the largest economic development association in the country and the annual conference is the number one place to meet and connect with the boots-on-the -ground, decision makers in our communities. 

The conference will include a pre-conference teaching tour, ‘Building & Paying for Development Projects’ on May 6th and then begin in full on May 7th, with a welcome session and breakouts. Overall, there will be four general assembly sessions and 18 breakout sessions, which will delve into local economic development practices and innovative tools.

In addition to compelling content, the conference will have numerous opportunities to connect with community leaders and valued peers through networking receptions, the culinary crawl, and new this year, the Tournament of Champions, where conference attendees will navigate a gauntlet of games to win the grand prize on the evening of Thursday, May 8th.

To learn more about the conference and register, visit the CALED website at www.caled.org.

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Business

Strengthening Community Connections: Our Exciting New Partnership with Toyota Arena, Ontario Convention Center, and GOCAL

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Contributed Content | By Chris Venhoff, Senior Vice President and Inland Empire Market Leader for Consumer and Business Banking at U.S. Bank

As the Inland Empire market leader for U.S. Bank, I’m thrilled to share some exciting news: we are proud to be the Official Bank Partner of Toyota Arena and Ontario Convention Center. This partnership represents a reflection of our deep commitment to the Inland Empire and our dedication to fostering a vibrant, thriving community.

At U.S. Bank, we believe that strong partnerships drive meaningful progress. Toyota Arena and Ontario Convention Center are at the heart of the region’s culture and economy, bringing people together for world-class entertainment, business conventions, and community events. By joining forces, we’re not only expanding our presence but also creating opportunities to engage with residents, businesses, and organizations in ways that make a lasting impact.

Through our sponsorship, we’ll support concerts, sporting events, and conventions that showcase the diversity and energy of the Inland Empire. But this is only the beginning. As our partnership evolves, we’ll work closely with Toyota Arena, Ontario Convention Center, and GOCAL to introduce community-focused programs, including financial literacy workshops and charitable giving initiatives.

This partnership is designed to bring added value to the people we serve. For our customers, we’re introducing the U.S. Bank Fast Pass Lanes, providing priority access at Toyota Arena events. Special offers, exclusive event experiences, and tailored financial solutions for businesses operating in the region are just a few of the many perks we’re excited to roll out.

Our employees are at the core of our success, and this partnership allows us to recognize their dedication. Through exclusive access to events, corporate hospitality opportunities, and community volunteer programs, our team will have new ways to engage with and celebrate the community they serve.

The Inland Empire is a dynamic, fast-growing region, and we’re committed to supporting its continued success. By investing in Toyota Arena and Ontario Convention Center, we’re helping to create and sustain jobs while driving local business growth. These venues bring in visitors, revenue, and visibility, strengthening the region’s economy.

This collaboration is about more than just sponsorship—it’s about making a difference. By working together, we can elevate not just these venues but the entire Inland Empire. At U.S. Bank, we’re committed to being a partner in progress, supporting our customers, businesses, and communities every step of the way.

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Inland Empire Celebrates Entrepreneurial Excellence at Spirit Awards Gala

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Honoring Visionary Leaders Driving Innovation and Community Impact

The Spirit of the Entrepreneur Awards Gala, held at the Riverside Convention Center, celebrated the brightest entrepreneurial talent across the Inland Empire. Among the evening’s finalists was Edward Ornelas, Jr., President & CEO of the Inland Empire Regional Chamber of Commerce, who was honored in the Social Entrepreneur category for his outstanding leadership and commitment to the region.

Although Ornelas did not win, the Social Entrepreneur award went to Cesar Navarrete, President & CEO of Children’s Fund, a proud Chamber member. “Being a finalist alongside such remarkable leaders is an incredible honor,” said Ornelas. “I am especially thrilled to see Cesar, a Chamber member, recognized for the transformative work he’s doing to improve the lives of children in our community. It’s a proud moment for us all.”

Another highlight of the evening was the recognition of Hilda Kennedy, President & Founder of AMPAC Business Capital, another Chamber member, who was awarded the Top Female Entrepreneur category. Hilda’s leadership at AMPAC, a mission-driven business lender, has been instrumental in empowering small businesses and fostering economic growth across the region.

“It’s amazing to see leaders like Hilda and Cesar being celebrated for their contributions,” added Ornelas. “Their achievements underscore the talent and dedication of entrepreneurs in our Chamber and across the Inland Empire. They are setting the standard for excellence and impact in their fields.”

The evening also featured the prestigious “Best of the Best” Award, sponsored by Best Best & Krieger LLP, which was awarded to Mauro Gomez, Chief Growth Officer of Anita’s Mexican Foods Corp.. Based in San Bernardino, Anita’s Mexican Foods has grown from modest beginnings into a leader in the food production industry under Gomez’s strategic direction.

The Spirit of the Entrepreneur Awards Gala continues to shine a spotlight on the transformative work of Inland Empire entrepreneurs, celebrating their innovation, resilience, and commitment to the community.

For more information about the Spirit of the Entrepreneur Awards, visit https://www.spiritawardsie.com.

For more details about the Inland Empire Regional Chamber of Commerce and its members, visit www.iechamber.org.

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