Tesoro Venture Capital has announced new initiatives aimed at supporting startups in Phoenix, Arizona. The firm will oversee accelerator programs and design-center operations in the city, working with industry partners such as Amkor, Cadence, and TSMC. The City of Phoenix and the Greater Phoenix Economic Council (GPEC) are also involved in these efforts.
The main projects include the Global AI + Semiconductor Startup Hub, which is expected to launch and scale between 40 and 60 deep-tech startups each year, and the Global Semiconductor Design Center, an advanced chip design facility developed with Cadence.
Tesoro’s accelerator program is designed to help startups focused on artificial intelligence and semiconductor technology move from design to manufacturing more quickly. According to Tesoro Venture Capital, this initiative aims to strengthen U.S. competitiveness in these critical sectors by providing a complete pathway for founders to develop their technologies.
Startups participating in the program will have access to capital, mentorship, and connections with industry partners. They will also be able to use Cadence’s electronic design automation platform, advanced prototyping infrastructure, TSMC’s process technologies, Amkor’s packaging solutions, and resources within Phoenix’s innovation ecosystem.
The initiative is expected to create hundreds of specialized jobs across engineering, design, and support roles throughout Greater Phoenix. Tesoro plans to work with universities around the world to help turn research breakthroughs into high-growth companies through technology transfer programs and funding for proof-of-concept projects. This collaboration aims to give students and researchers greater access to advanced design and manufacturing capabilities.
Tesoro will also curate a global pipeline of startups from regions including the U.S., Asia, Europe, and Latin America. These companies will have opportunities for development in Phoenix as they scale up their operations.
Andy Lombard, Founder & Managing Partner of Tesoro Venture Capital; Mayor Kate Gallego of Phoenix; Tom Beckley of Cadence Design Systems; Lucas Tsai of TSMC North America; and Kevin Kan of Amkor Technology provided commentary on the announcement.
According to information from Tesoro Venture Capital’s website (www.tesoro.vc), the organization focuses on helping early-stage ventures transform research into scalable businesses within AI and semiconductors by partnering with founders, industry leaders, and universities worldwide.
