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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

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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Inland Empire Chamber President Edward Ornelas, Jr. Named Finalist for Spirit of the Entrepreneur Awards

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Celebrating Leadership and Innovation: Ornelas Recognized for Advancing Business Growth and Social Impact in the Inland Empire.

Edward Ornelas Jr., President of the Inland Empire Regional Chamber of Commerce and owner of the Inland Empire Business Journal, has been named a finalist in the famed 2024 Spirit of the Entrepreneur Awards. Ornelas is honored in the Social Entrepreneur category for his remarkable leadership and vision in fostering business growth and development across the Inland Empire. The award ceremony will take place on November 21, 2024, at the Riverside Convention Center, celebrating the best of entrepreneurship throughout the region.

The Spirit of the Entrepreneur Awards, often regarded as the “Oscars of Business” in the Inland Empire, recognizes the innovation, leadership, and impact of outstanding entrepreneurs across various sectors. Ornelas joins a select group of 34 finalists, each representing the entrepreneurial spirit and resilience that define the I.E. business community. The Social Entrepreneur category highlights individuals like Ornelas, whose work goes beyond profit to positively impact society.

In his role as President of the Inland Empire Regional Chamber of Commerce, Ornelas has been a powerful advocate for the business community, connecting small businesses with essential resources and creating opportunities for growth. As the owner of the IE Business Journal, the only publication in the region dedicated solely to business news, Ornelas has provided a platform for local businesses to thrive by sharing their stories and promoting their success. His innovative, forward-thinking approach to marketing has earned him a reputation as a “visionary” and a “get-things-done” leader across both public and private sectors.

“I’m deeply honored to be recognized as a finalist for the 2024 Spirit of the Entrepreneur Awards. This nomination is a reflection of the incredible businesses and community leaders across the Inland Empire who inspire me every day. At the Inland Empire Regional Chamber of Commerce, our mission is to empower businesses and foster economic growth, and this recognition highlights the collective efforts of our entire community. I’m excited for what the future holds as we continue to work together to make a lasting impact,” said Ornelas.

Other notable finalists for the 2024 Spirit of the Entrepreneur Awards include leaders in healthcare innovation, green technology, and digital transformation. Each finalist, selected by a distinguished panel of judges, represents the best in their respective industries and contributes to the Inland Empire’s continued growth as a hub of innovation and entrepreneurship.

The Spirit of the Entrepreneur Awards is an annual event that brings together business leaders, community advocates, and entrepreneurs to celebrate the entrepreneurial excellence that drives the region’s economy. This year’s event promises to be a night of inspiration and recognition, showcasing the achievements of finalists like Ornelas, who continue to elevate the Inland Empire’s business landscape.

For more information about the Spirit of the Entrepreneur Awards and to see the full list of finalists, visit www.spiritawardsie.com

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Business

CBRE Opens Newly Renovated, Tech-Enabled Office in the Inland Empire

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The office is designed to support hybrid work and employee wellbeing

CBRE announced the opening of its new 10,159-sq.-ft. office suite on the ground floor of 4141 Inland Empire Blvd., in Ontario, Calif.

The office is part of CBRE’s Workplace360 program, which features innovative office designs and functionality, including in-office technology and a wider variety of collaborative spaces designed to support hybrid working. CBRE launched its Workplace360 program over a decade ago in its downtown LA office. Since then, the company has opened more than 100 Workplace360 offices worldwide, continually updating the program as work habits have changed over the years, especially with the increase in hybrid work.

“Our newly renovated space provides us with a great opportunity to deliver a collaborative, experience-driven workplace that supports hybrid work,” said Ian Britton, managing director and market leader for CBRE in Inland Empire. “Our Workplace360 office will also serve as a showpiece to help clients conceptualize flexible work strategies for their employees.”

The renovated office has several different work areas including focus, huddle, living, and conference rooms. The open-space lobby, known as the “Heart,” features a variety of seating and a communal space for collaboration. A large 86” media display with a speaker system welcomes employees, visitors, and clients and assists with onsite events.

New office technology, including touch-enabled video conference rooms, allows for hybrid work collaboration between in-office and remote employees and clients. Additionally, the Mt. Baldy conference room has Liquid Galaxy, a geospatial visualization platform set across large format curved screens providing a cinematic presentation experience. This room has an operable wall that opens to the Heart, creating an onsite event space.

A cornerstone of the Workplace360 model is its free-address approach, in which there is no dedicated seating. The free-address approach allows employees who are in the office on a given day to use any workstation or office.

The office’s design led by CBRE Design Collective, took inspiration from the Inland Empire’s orange groves and mountainous landscapes of Mt. Baldy. Images of Route 66 from local photographer VC Torneden features the role the highway plays in the area. 

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