Tesoro.vc logo, white text on dark gray background with

Introducing Tesoro.vc accelerator: Transforming Arizona into a global tech powerhouse 

Published: 01/13/2025
Updated: 01/11/2025

Tesoro.vc startup accelerator to drive Greater Phoenix early-stage entrepreneurial momentum

PHOENIX (Jan. 13, 2024) – Tesoro.vc, in partnership with the City of Phoenix, the Greater Phoenix Economic Council (GPEC) and StartupAZ, is proud to announce the launch of its groundbreaking startup accelerator. This visionary initiative aims to position Arizona as a premier national and global hub for technology startups. Headquartered in Phoenix, one of the fastest-growing cities in the United States, Tesoro.vc is redefining the entrepreneurial landscape by leveraging local talent, robust resources and an expansive global network. 

Building a Thriving Ecosystem Through Collaboration 

Tesoro.vc’s strategic partnerships with Phoenix, GPEC and StartupAZ provide entrepreneurs with access to an unparalleled network of resources and expertise. By uniting economic development leaders, policymakers and startup advocates, these partnerships foster innovation, accelerate growth and attract high-quality deal flow and capital investment to the region. Together, they aim to support founders at every stage of their entrepreneurial journey. 

“Arizona is at the tipping point of becoming a global startup leader,” said Andy Lombard, founder and CEO of Tesoro.vc. “Tesoro Accelerator is the catalyst we need to transform ideas into companies that will shape the future. We’re thrilled to collaborate with our incredible partners to ensure entrepreneurs have the tools, mentorship and investment they need to succeed.” 

Why Now? 

Phoenix, the fifth-largest city in the U.S., is at the forefront of transformative growth in semiconductors, climate technology and other advanced manufacturing. Despite this progress, Greater Phoenix has lacked a comprehensive early-stage accelerator to harness and expand its entrepreneurial momentum. With more than $2 billion in available capital and a rapidly expanding network of venture capital investors, Tesoro.vc is addressing this critical gap — offering a platform to propel Arizona’s tech ecosystem to new heights. 

“From excellent coworking spaces to a collaborative entrepreneurial environment, Phoenix continues to demonstrate why we are one of the best cities for startups nationwide,” said Phoenix Mayor Kate Gallego. “With strong interest, growth, and ideation booming across the semiconductor, climate-tech, and healthcare sectors, there’s never been a better time to invest in and scale the great companies emerging from our community.”    

Tesoro will add a complementary component to a VC ecosystem that has seen consistent growth over the last several years. Greater Phoenix has attracted more than $1 billion in venture capital investment in each of the last seven years — a number that had never been reached prior to 2018 — and the median deal size and median company valuation post-funding in 2024 were both record highs for the region. 

“Greater Phoenix is home to a vibrant and rapidly expanding tech sector, and Tesoro Accelerator offers a new avenue for early-stage startups to access funding and critical guidance,” Chris Camacho, President and CEO of GPEC. “By attracting and developing top-tier startups, Tesoro will amplify the region’s reputation as a premier location for innovation and investment.” 

Tesoro’s Vision: Turning Ideas into Treasures 

True to its name, which translates to treasure, the Tesoro accelerator partners with visionary founders worldwide to create impactful, innovative companies. Tesoro.vc bridges Arizona’s burgeoning potential with the vibrancy of established entrepreneurial hubs across the U.S. and beyond, fostering a culture of innovation, mentorship and investment. 

Tesoro.vc’s leadership team is backed by a proven track record of success. At the helm is Lombard, who created the Arizona Innovation Challenge (AIC) and the Venture Ready Accelerator (VR), and is credited with accelerating 150 startups, deploying $25M in capital, and building a portfolio valued at $6 billion. 

Key Features of Tesoro Accelerator 
  • Program Structure: A 12-week accelerator program designed to prepare early-stage companies for venture capital investment. 
  • VC Demo Day: Partnership with over 70 VC firms to facilitate investments into graduating startups. 
  • Silicon Valley Immersion: A one-week immersion program offering founders exposure to top-tier investors and startup ecosystems. 
  • Batch-Based Model: Two startup cohorts annually, supporting up to 100 startups per year. 
  • Global Resources: Access to international networks, partnerships and capital opportunities. 
  • Post-Program Support: Ongoing advisory services, alumni engagement, mentorship and tailored demo days. 
  • Operational Excellence: Comprehensive legal, financial, marketing and recruiting services to drive scalability. 
  • Thought Leadership Events: Bi-annual conferences featuring insights from global innovators and entrepreneurs. 
Shaping the Future of Arizona’s Economy 

Tesoro Accelerator is set to mobilize Arizona’s startup scene by fostering innovation, creating jobs and driving technological advancement. By integrating Arizona’s entrepreneurial potential with national and global ecosystems, Tesoro.vc offers unmatched opportunities for startups, investors and the state’s broader economy. 

For more information, visit www.tesoro.vc or contact Andy Lombard at andy@tesoro.vc. 

About Tesoro.vc 

Tesoro.vc is a high-scale accelerator headquartered in Phoenix, Arizona, dedicated to empowering entrepreneurs with the resources, mentorship, and networks needed to build impactful companies. Partnering with the City of Phoenix, GPEC, and StartupAZ, Tesoro.vc is committed to shaping the future of innovation and entrepreneurship. 

About the Greater Phoenix Economic Council 

The Greater Phoenix Economic Council (GPEC), globally recognized as a top economic development organization (EDO), works to attract and grow quality businesses and advocate for the competitiveness of Greater Phoenix. A data-driven regional EDO, GPEC works with 22 member communities, Maricopa and Pinal counties, and more than 200 private investors to accomplish its mission and serve as a strategic partner to companies across the world as they expand or relocate to Greater Phoenix. Over the past 34 years, GPEC has fueled the regional economy by helping over 980 companies, creating nearly 182,000 jobs and more than $65 billion in capital investment. Greater Phoenix is in a relentless pursuit of innovative and entrepreneurial-focused companies looking to thrive and scale in a vibrant, dynamic region. There is an undeniable spirit about Greater Phoenix; one rooted in strength, collaboration and resilience. Greater Phoenix is Greater Together. For more information about GPEC and how we can assist your businesses, visit?www.gpec.org. 

About StartupAZ 

StartupAZ was formed in 2015 by Mario Martinez II and Brandon Clarke with the mission to help Arizona’s most innovative startups improve their leadership, performance, and connections, while inspiring generosity and philanthropy within their communities. StartupAZ’s cohort-based Founders Collective and its pay-it-forward model with the Generosity Pledge became the bedrock of the organization’s work building a community of early stage company-builders through its performance and generosity flywheel framework. StartupAZ is proud to have supported over 120 early-stage founders since 2015 – some of whom have gone on to be among the most successful, and generous, tech founders in the region. Learn more at?startupaz.org. 

About the City of Phoenix 

Phoenix is the fifth-largest American city, home to 1.7 million people. The most populous state capital, it was named the 2017 “Highest Performing City” by Governing Magazine. Key industries include advanced business and financial services, technology, health and life sciences, hospitality, and advanced manufacturing. At 517 square miles, with world-renowned mountain trails and opportunities for diverse lifestyles, Phoenix has the shortest average commute times among the 12 largest U.S. metropolitan areas. Founded in 1868, Phoenix’s wild-west roots grew to host major events in a dynamic downtown for the Super Bowl, NCAA championships and music festivals. Community and accessibility have made Phoenix a top market for bioscience, semiconductor manufacturing, retail, and so much more. For more information, visit InvestInPhoenix.com.