The Reno-Sparks economy faces challenges, but its future remains bright, entrepreneur Fred Sibayan told a chamber of commerce audience last week.
"I believe this area is thriving.
It's going to continue to grow," said Sibayan, whose work as a venture capitalist and executive includes work as founder of Sierra Vision Launch.
He spoke to members of the Reno-Sparks Chamber of Commerce.
Sibayan acknowledged the region faces challenges: * The continued debate about the train trench through downtown.
* The significant challenges faced by the gaming industry, particularly if Indian casinos begin operation along Interstate 80 between Sacramento and Reno.
* A national economic environment which has been rocked by the events of Sept.
11 and the financial scandals in Ameri can boardrooms.
In his work as a venture capitalist, Sibayan said he continues to believe that northern Nevada can serve as the home of significant high-technology employment more than those back-office functions which dominate the high-tech environment currently.
"We don't need to become a Silicon Valley.
What we need is clean technology," he said.
Sibayan said he once discouraged a chip manufacturer from locating the area, arguing that the company would present challenges to the northern Nevada environment.
Better suited, he said, are research-anddevelopment facilities.
But he said high-technology development in the region is stymied by lack of venturecapital funding.
He acknowledged that venture capital has dried up nationwide.
"It's important that this community have a venture fund," Sibayan said.
He noted that large numbers of new residents in the area bring capital financial and intellectual with them from other regions, and one of the challenges facing the community is determining how to bring that now-silent capital into play.
Along with that wealth, he said assets of the community which might be leveraged for economic development include: * The free-trade zone.
* The presence of the University of Nevada Reno and numerous other educational institutions.
Fred Sibayan founded Sierra Vision Launch.
Here's how the organization describes itself: Sierra VisionLaunch offers promising technology start-ups the critical ingredients necessary to grow quickly and successfully - sufficient capital, exceptional mentoring and guidance, superb professional & support services, and well-designed office space where people can work productively ...
With guidance from SVL's seasoned management, staff and top tier service providers, start-ups will have the opportunity to build an internal infrastructure to support their growth.
SVL offers a full range of professional and support services ., including, legal, accounting, human resources, sales, marketing, business development and product development.
