The Routt County Economic Development Partnership launches the High County Accelerator, a groundbreaking initiative designed to support entrepreneurs at every stage of their journey from conception to early growth stages.
“We’re all building something here, and it’s visible. And that creates a collective enthusiasm for new ideas and a new community that can develop from that. And it also gets investors excited about what’s happening,” says Aaron Walls, director of the Economic Development Partnership’s Yampa Valley Entrepreneurship Center.
“Traditionally, this has all been done behind closed doors, and this is really the first time we’re opening this up to more people and the public,” he added.
This new initiative is a collaboration between the Development Partnership, Startup Colorado, the National Science Foundation Innovation Corps and the Summit County Economic Partnership. It aims to foster innovation and business expansion in the region with three components tailored to the needs of entrepreneurs at different stages of development.
The program begins in September with the National Science Innovation Corps Starting Blocks Workshop. Participants will learn how to turn their concepts into viable businesses using the Lean Canvas model and customer interviews to refine their offerings and ensure the company is well positioned to succeed.
Following the workshop, Startup Colorado’s Idea Factory will help entrepreneurs navigate financing, understand funding models, learn how to access finance, and create compelling pitches to attract investors.
“The Idea Factory helps these entrepreneurs understand what type of business they have and what type of funding they should be looking for,” Walls said. “Then they end up developing a 90-second pitch that can take them to the next level of funding.“I am very happy with my purchase.”
Startup Colorado’s Growth Challenge is the final component and is aimed at operating companies. It addresses the critical challenges faced by companies looking to expand. Participants benefit from tailored programs, mentoring, and connections to funding and investors that can help them overcome obstacles and grow.
“The Growth Challenge is a collaboration with the Summit County Economic Partnership for companies in our area that are already doing something — they’ve been in business for a year or two, they have some revenue, they have some products and they have some traction — but they’re not quite at the next level yet,” Walls said. “That’s where the Growth Factory really helps them develop their business and the growth trajectory of that business.”
Programming for the three components of the High Country Accelerator begins in September and runs through November, with each program lasting approximately four weeks. For more information, visit HighCountryAccelerator.com.
“We used to have a business plan competition at the end of every calendar year,” Walls said. “We’re going to do something like that too, but with all the companies in our cohort. It won’t be a competition, but more of a demo day where new companies can pitch all their ideas. We’re inviting investors from across the region to watch the presentations, give feedback and ask questions. It will be an opportunity to meet the entrepreneurs who are doing these incredible things and implementing these ideas.”
John F. Russell is a business reporter for Steamboat Pilot & Today. Reach him by phone at 970-871-4209, by email at [email protected] or follow him on Twitter at @Framp1966.
