FOR IMMEDIATE RELEASE
Contact: Evan Haddad
Public Information Officer
ehaddad@goed.nv.gov 775-684-9973
June 15, 2026
Carson City, Nev. –The Nevada Governor’s Office of Economic Development (GOED) is highlighting continued and expanded progress in the creation of new companies based on university inventions following a recent collaboration between the University of Nevada, Las Vegas (UNLV) Office of Economic Development and Franklin Venture Studio by Franklin Advisory.
Five early-stage ventures were selected from a wide range of 24 invention disclosures across UNLV’s research community. This built on proven approaches, such as the Entrepreneur in Residence model, which was initiated and supported by GOED’s Knowledge Fund. The venture studio initiative is thereby underscoring the growing role of structured-commercialization support in translating university research into market-ready solutions and new business formation.
“The creation of five new spinout companies represents the next stage in our effort to continuously create technology-based ventures based on UNLV faculty use-inspired research and inventions,” said Karsten Heise, senior director of strategic programs and innovation at GOED. “Growing new industry sectors in Nevada organically by harnessing our research universities’ intellectual property is a key element of strengthening an innovation-based economy, resulting in an above-average rate of high-paying job creation. With Franklin Advisory, we have found the ideal partner to pilot the crucial venture studio model, and we will now be taking this concept from validation further to the next stages with increased GOED support.”
The selected technologies reflect the breadth of applied research emerging from Nevada’s higher education institutions, spanning energy, water, sports performance, dental innovation, and biotechnology.
“Research institutions such as UNLV play a vital and foundational role in driving innovation and represent a significant component of high-tech startup creation and economic development ecosystems around the world,” said Zach Miles, interim vice president for economic development at UNLV. “However, transforming promising early-stage inventions into market-ready innovations requires a coordinated effort involving skilled experts, targeted programs, specialized services, and strategic funding. The collaboration among Franklin Advisors, GOED, and UNLV exemplifies this required coordination and how strong innovation partnerships can bridge the gap between invention and commercialization, accelerating economic impact and fostering long-term growth.”
Over a nine-month period, Franklin Venture Studio worked directly with UNLV researchers to evaluate commercialization pathways, conduct customer discovery, assess market opportunities, and support venture formation activities. Several projects are now advancing toward startup creation, while others are pursuing opportunities with licensing, partnership, and industry collaboration.
“Research universities generate discoveries with the potential to improve lives, create new industries, and strengthen regional economies, yet too many never make it beyond the laboratory,” said David Wilson, founder and principal of Franklin Advisory. “Our venture studio model helps bridge that gap by moving promising technologies into the marketplace through startups, partnerships, and other commercialization pathways. We are proud to partner with GOED and UNLV to help transform breakthrough research into companies, jobs, and real-world impact.”
GOED has been highly supportive of this pilot. It will yield important insights as GOED prepares to expand the venture studio concept into a statewide “Nevada Venture Studio” program following the next Knowledge Fund funding cycle for the forthcoming biennium. This model is essential for effectively identifying commercial opportunities among the research conducted at the state’s universities and then forming viable and sustainable commercialization pathways. Technology-based startups naturally face a much longer and higher-risk development path which requires special support structures. The venture studio represents a vital support mechanism in the earlier stages of this process.
Growing Nevada’s target industries requires being at the forefront of innovation. A crucial component is continuously forming new companies in those sectors based on cutting-edge technologies. To facilitate such technology-based startup creation, GOED will further develop the venture studio model with its partners UNLV and Franklin while leveraging key GOED initiatives such as the Knowledge Fund and the Office of Entrepreneurship.
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About the Governor’s Office of Economic Development
Created during the 2011 session of the Nevada Legislature, the Governor’s Office of Economic Development is the result of a collaborative effort between the Nevada Legislature and the Governor’s Office to restructure economic development in the state. GOED’s role is to promote a robust, diversified and prosperous economy in Nevada, to stimulate business expansion and retention, encourage entrepreneurial enterprise, attract new businesses and facilitate community development.