Award-winning Kauffman Foundation program coming to Colorado
(Fort Collins, CO – February 18, 2010) This spring the Rocky Mountain Innovation Initiative, or RMI2, will launch a program designed to spur the formation of new entrepreneurial ventures in the clean energy, bioscience and technology industries. The program, called FastTrac® TechVenture™ was developed by the Ewing Marion Kauffman Foundation, which is partnering with RMI2 in the program launch.
FastTrac TechVenture is a comprehensive business planning and educational program addressing the needs of technology-based start-up entrepreneurs who are refining their business concepts, writing their business plans and seeking to grow sustainable high-impact companies. The program combines instruction from experienced business professionals, one-on-one business mentoring with coaches and peer learning to help entrepreneurs produce an effective business. After completing the class, entrepreneurs walk away with a detailed business plan and executive summary presentation, and a strong understanding of how to finance a company.
"FastTrac is ideally suited to the sophisticated needs of the technology entrepreneur," said Mark Forsyth, CEO of RMI2. "The combination of expert mentoring, a high-quality curriculum and hands-on business plan development makes it both unique and highly effective."
Promoting innovative startup companies in targeted strategic industry clusters dovetails with Fort Collins’ economic development strategy, according to Mike Freeman, City of Fort Collins CFO and RMI2 board chairman. "This program complements our existing efforts and provides an additional catalyst for long-term growth of jobs and diversification of the regional economy," adds Freeman.
Strategic partners for the program planning and launch include Colorado State University (CSU), CSU Management Corporation, an investment fund for companies with an established relationship to CSU, the City of Fort Collins and the Larimer County Workforce Center.
"I have observed the phenomenal success of the FastTrac program in North Carolina’s research triangle area", said Mark Wdowik, CEO of CSU Management Corp. "We see this as a great fit for CSU startups to better prepare them for the transition from research laboratory to the marketplace."
This will also be welcome news to workers across the state, which has been hard hit by layoffs in the tech industry during the current and previous economic downturns.
"Training displaced and underemployed professionals to create new businesses is a great way to create new opportunities and jobs in our community, while capturing and focusing the amazing talent for which we are well recognized,” said Geniphyr Ponce-Pore of the Larimer County Workforce Center. As part of a regional initiative for creating a skilled workforce for the region's fastest-growing high-wage industries, WIRED™/Metro Denver and the Larimer County Workforce Center are offering a limited number of scholarships to qualified applicants.
"We’re delighted to participate in the Colorado launch of TechVenture", said Monica Doss, Executive Director of Kauffman’s FastTrac program. "This area has the right mix of innovative entrepreneurs, workforce talent and a supportive coalition of local government, universities and entrepreneurial support organizations to make it a success."
The inaugural session of the program is slated to begin on March 31. It is open to all entrepreneurs building their businesses in Colorado. During the seven-week program, participants will attend two three-hour workshop sessions per week and spend additional time offline working on their business plans.
Sponsors include the City of Loveland, UNC Monfort College of Business, EKS&H, Woodward Governor, West Mountain Asset Management, Cochran, Freund & Young LLC, Faegre & Benson LLP, Davis, Graham & Stubbs LLP and Kennedy and Coe, LLC. The program is also sponsored by the FastTrac Launchpad Initiative, a joint initiative of the Kauffman Foundation and Deluxe Corporation Foundation.
For further details or to register visit www.rmi2.org/47/FastTrac. For information on coaching, guest speaker or sponsorship opportunities contact Amanda Bodak at (970) 347-7233 or email fasttrac@rmi2.org.
The Rocky Mountain Innovation Initiative (www.rmi2.org), located in Fort Collins, CO is a 501c3 non-profit organization dedicated to promoting innovation and entrepreneurship in Northern Colorado.
The Ewing Marion Kauffman Foundation (www.Kauffman.org), based in Kansas City, MO, is the world's largest foundation devoted to entrepreneurship.