Kingsley Edwards entered the conference room at UNLV and saw angels.
The challenge was to match up with one — or more — because, given the right connection, he might be able to boost his startup online gaming platform.
Edwards, 28, was on the hunt for money — the kind of venture capital that rich investors — angels — are willing to offer dreamy entrepreneurs pursuing The Next Big Thing.
He was one of 15 high-tech inventors at the recent event who needed money to launch their products or extend the reach of established companies. Edwards, a graduate of Las Vegas Academy and the College of Southern Nevada, launched Leetcoin in 2003. That night at UNLV, he had competition, and he had to set himself apart.
One entrepreneur needed money to fund a bully alert app. Another computer geek needed capital to get his HD video sunglasses into the general market. Two foodies had visions of owning a gourmet food truck. All around Edwards, young, green entrepreneurs were grasping for financial help.
“I was nervous, but also excited to talk about our company,” Edwards recalled. “Our goal was to meet investors, practice pitching and network. All were accomplished.”
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Edwards, a longtime video game enthusiast, was growing frustrated with just playing virtual casino games for bitcoins. He wanted to compete against other gamers the way online poker players do, but for the digital currency he prefers.
He thought about starting his own business, but he’d need tens of thousands of dollars to launch a company.
Before he attended the UNLV event, Edwards had raised about $40,000 with the help of investments from friends and family, as well as through local funding projects such as Progression Labs.
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Leetcoin, still in relative infancy, lets players compete against one another for bitcoins through games such as the popular "League of Legends."
The notion of changing a concept that someone thinks is flawed, as Edwards did with Leetcoin, is vital to being an entrepreneur, said Pilar Stella, co-founder of the investment fund Alchemy P4.
Stella said that a key to successfully pitching to an investor is to find one who has an interest in the same sector as your business. Edwards could have the advantage here, she said, considering the market in Las Vegas.
“There are a lot of innovations in gambling and entertainment here,” Stella said. “Leetcoin is acquirable because it layers the concepts of bitcoin and gaming.”
The deciding factor in whether to invest, however, varies from investor to investor.
“I’m not traditional in any way,” Stella said. “I look at things like their track record and the marketplace opportunity for their product, but I also consider how adaptable and resilient they are.”
Showing the ability to overcome obstacles also is key, she said, but she added there isn’t a hard and fast rule that investors follow in deciding to spend their money.
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Gregory Conner wants to “help small dogs achieve big goals” through obedience training. At the UNLV investor-startup event, he was hoping to land crucial dollars that would help him launch Doggy Play n Train.
The business, based in Henderson, had its official grand opening this month. Funding has been provided through Conner’s main dog training company, MPK9, along with investments from friends and clientele.
Still, Conner was seeking investors whose help will be crucial because he figures he’ll need $200,000-$250,000 a year to keep his newest venture running — more once his business plans go nationwide.
“This is a market that’s being called for. It’s not like I’m doing something new,” he says. “I’m not going to let lack of funding stop me. I came across (at the UNLV event) as if I have a plan, and that’s because I do have a plan,” Conner said.
A doggy day care that also serves as a training ground, Doggy Play n Train offers a safe environment for small dogs to frolic, be free and develop better character, Conner said.
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As entrepreneurs, Conner and Edwards are no strangers to the hardships that come with trying to fund a startup. In fact, despite their best pitching, neither received funding from the investors they made contact with at the UNLV event.
“It’s known that you’re going to have your ups and downs,” Edwards said.
A few months into the development of Leetcoin, Edwards lost a strong developer and had to regroup his team. He also said that, compared with cities such as New York and San Francisco, it’s hard to find talent in Las Vegas.
But that doesn’t stop him from continuing to build his brand.
Edwards has traveled to a number of conferences in an effort to stay up to date on the market and promote Leetcoin. He and his team are also in the process of partnering with Reddit and E-sports Teams in the hopes of reaching a wider gaming audience.
Leetcoin has more than 1,000 players who use Google accounts to collect their earnings, which they can withdraw and convert to cash on their own.
Edwards aspires to build Leetcoin into one of the biggest online gaming sites on the Web.
For Conner, developing his brand means building a relationship with his clients. He opened Doggy Play n Train near Anthem, where most of his customers with small dogs live.
His goal is to have several Doggy Play n Train locations in the Las Vegas Valley, then expand nationally.
“The numbers don’t show that we’re going to make millions and millions,” he said. “But I’ve always been told to stay with something until it catches fire.”