RNOX R.E.A.L. — Present & Future
As I reflect on the beginning of our fall 2020 cohort at RNOX, many things come to mind, but the most significant is the level of innovation, dedication and collaboration that we’ve seen within the teams. I believe these qualities are present in every successful entrepreneur and it’s truly amazing what can be accomplished when dedicated teams come together to solve tough problems.
We launched RNOX during a global pandemic, and as entrepreneurs ourselves, we were willing to take this risk. Still, there was a bit of uncertainty — it was unknown as to whether we would have entrepreneurs bullish on the economy and aggressively working to bring their product to market, or whether it was a ‘wait and see’ situation. To our surprise, we were overwhelmed by the number of applications received for our fall cohort. It’s clear that the Nevada startup ecosystem is thriving and I know we’ll see so many great projects coming out of this.
I was also impressed by the level of talent within the teams that submitted their application. We had many productive conversations and got to hear from some amazing entrepreneurs building really cool products. I was also impressed by the diversity of ideas and to see how these companies were working to solve problems across multiple industries. This is a learning that has encouraged us to think differently about the industry verticals (more on this later) for our next cohort.
Our fall cohort started in August and we’re a little more than half way through the R.E.A.L. program, a program designed to be flexible, agile and “real time, all the time”. This was a conscious decision made because we wanted our startups to prioritize the running of their business. Running a startup can be tough and the demands on resources, time and family can be tremendous. This is why we designed our R.E.A.L. Program to be flexible and dynamic. We’re also taking active feedback from our startups in order to make informed decisions about the running of the program.
Some learnings
The importance of peer 2 peer collaboration. Some of the greatest breakthroughs have come from discussions within our cohort. It’s amazing how teams in different verticals can spark ideas and learn from one another.
The importance of allowing entrepreneurs to innovate. One of our key differentiators at RNOX is our ability to be hands-on. This is important because early stage startups require this level of support. At the same time, we’re keen to provide entrepreneurs the time and space to innovate. I believe that so much progress has been made because of this approach.
The human factor. Helping entrepreneurs is more than just guiding them through their Go-to-Market strategy. It requires a lot of hard work to start a company — long days, stressful meetings and difficult decisions. Understanding the personal dynamics and providing support in this regard is critical for the growth of our startups.
Looking ahead
You’ll soon be hearing about our winter 2021 call for applications and I’m excited to see what entrepreneurs are building and how they’re innovating in new ways. On a personal level, I’m looking forward to meeting with these teams and hearing their passionate stories about the problem they’re working to solve, how they got started and their vision for the future. I feel very lucky to be in this position.
For our next cohort, the R.E.A.L Program is looking for companies building a wide range of products specializing in six target areas:
- FinTech
- SaaS (Software as a Service)
- Data Security
- DLT/Blockchain
- Gaming Innovation
- HealthTech (new for 2021)
We’ve added HealthTech as a vertical because we think this is an area ripe with opportunity and based on some new and exciting projects that we’ve seen in this space.
At RNOX, we are focused on the growth of new, highly innovative tech startups and our mission is to position Nevada as the next leading innovation center. Entrepreneurs , we are looking forward to hearing from you and potentially welcoming you into the R.E.A.L. Program.
Submit your application here.
