Startup Happy Hour with EV Life Co-Founder & Co-CEO Kevin Favro

Join us for an engaging evening at Startup Happy Hour! This mixer offers a fantastic chance for both seasoned entrepreneurs and newcomers to network and relax with peers in the startup ecosystem.

During the event, you'll connect with fellow innovators, exchange ideas, and you might even meet your next business partner. Enjoy a drink, savor delicious appetizers, and share stories with other passionate startup enthusiasts.

Don't miss out on this opportunity to expand your network and gain insights into the tech industry!

Our Ask Me Anything Guest is Kevin Favro Co-Founder & Co-CEO of EV Life

Thanks to the generous sponsorship of the City of Sacramento, we'll provide a variety of delicious appetizers. Guests can enjoy adult beverages from the no-host bar.

Don't miss out on this exciting opportunity to expand your network and have a blast at the same time. RSVP now to save your spot!

Startup Happy Hour is organized monthly by StartupSac and the Carlsen Center for Innovation and Entrepreneurship.

Sponsored by the City of Sacramento through the Innovation Grant program.

Kevin Favro is a visionary entrepreneur who first introduced his innovative concept at the Techstars Startup Weekend Folsom in 2019, where he pitched a solution to address range anxiety for electric vehicle (EV) drivers. His team's idea won first place, but they soon realized that the bigger challenge was the affordability of EVs. This pivotal moment led to the creation of EV Life, a company dedicated to making EVs as affordable, if not more so, than gas-powered cars. As the founder and co-CEO, Favro has developed a unique business model that assists potential EV buyers in three distinct phases. The first phase involves using EV Life's vehicle search tool and Incentives Engine to quickly obtain personalized estimates of available EV incentives. The second phase allows users to apply for an EV Climate Loan, and once approved, they can purchase an EV immediately at almost any dealership.

EV Life's Climate Loan is designed to finance the entire value of the vehicle, potentially reducing monthly payments by up to $200. This innovative approach contrasts with the traditional method where customers wait six to 18 months after purchase to receive incentive funds. To kickstart the business, Favro sought capital from the Bay Area Air Quality Management District, where Tamara Kohne, project lead of the Climate Tech Finance program, recognized the potential of EV Life and facilitated a $5 million loan guarantee from the State of California. Despite challenges such as supply chain issues and dealer markups, EV Life is committed to helping customers find vehicles without excessive price increases and is currently in the midst of a $2.5 million pre-seed raise. The company's ultimate goal is to not only make EVs more accessible but also to extend its vision into homes, making it more affordable to electrify various aspects of daily life.

Host or Publisher StartupSac