A Telluride nonprofit that helps entrepreneurs launch their businesses is seeking applicants for its 2016 startup program.
Telluride Venture Accelerator, an initiative of the Telluride Foundation, started three years ago.
It brings entrepreneurs to the mountain town for a five-month residency program.
Thea Chase, the director of TVA, describes accelerators as a combination of business incubation and angel investing.
"Our objective is to put a small amount of investment into companies and then house them here in Telluride and run them through a curriculum, connect them with mentors and help take them from idea to launch," Chase says.
Participants in the program receive $30,000 in seed funding in exchange for five percent equity.
She says TVA invests in these businesses and wants to see them succeed
"We target technology companies in a couple of different verticals and these are all high-growth companies," Chase says.
This year’s program had five graduates. She says one is going to open shop in Montrose and two in Telluride.
Montrose County is pleased to hear Travel Recon, a company that provides travel analysis and security, is coming to the area.
Earlier this month, the county commissioners approved giving the Montrose Economic Development Corporation $22,500 to help attract the business.
County Commissioner David White says MEDC will use the money to get the fiber optic infrastructure Travel Recon and other companies need to locate to the area.
"What this does is it lowers the cost for others that are in that vicinity to connect to the broadband network," White says.
MEDC has an agreement with Travel Recon that it will create 13 new full-time jobs by the end of next year.
Chase says TVA is focused on economic development in Colorado, but people from all over the world can apply.
"We will be opening applications Tuesday, Sept. 1 for our 2016 class," she says.
Chase says TVA helped 18 companies get their start.
