Monday November 28, 2016 0 comments
DENVER -- Colorado Community Capital PBC announced a working group has been established to support businesses, social enterprises, charities and community projects in raising capital within the space industry.
Organizers said an exploratory meeting was held at the DaVinci Institute in Westminster on Nov. 14. Discussion participants included a book author, the developer of a Mars colony theme park, an astronaut tourism adventurer, a STEM education developer, an astrophysical observation center, a manufacturer of transportation vehicles, a financial advisor and several business consultants.
Following the discussion, participants viewed the first episode of the six-part series on Mars recently produced by National Geographic and featuring Elon Musk and the efforts of SpaceX to colonize Mars.
The Space Capital Community’s first program will be held Dec. 19 at the DaVinci Institute, 9191 Sheridan Blvd #300, Westminster, at 6 p.m. It will feature a panel review of the International Association for Astronomical Studies.
IAAS is a charity devoted to raising capital to fund the development of new STEM education programs and the construction of the Starhaven Observatory in Strasburg.
The panel will be followed by a presentation on capital sources and a discussion of future activities for the Space Capital Community.
“The programs of the Space Capital Community will be more like the peer-to-peer programs used by 1 Million Cups and not at all like Shark Tank,” said Wayne Dicksteen, director of the Space Capital Community.
“We are utilizing the collective knowledge of a custom-created crowd and focusing it on organizations that need help raising capital. As a Capital Community, we all get smarter every time we help one of our member organizations successfully raise capital.”
“Access to capital remains a key challenge to starting and growing businesses, social enterprises, and community projects in Colorado,” said Karl Dakin, president of Colorado Community Capital PBC, the parent organization of the Space Capital Community.
“Without capital there is less innovation, fewer new products and services, and fewer jobs – all important factors in strong, sustained economic growth.”
The United States passed the JOBS Act in 2012 and Colorado passed the Colorado Crowdfunding Act 2015. These changes enable public promotion of a capital campaign and unlimited participation by the non-accredited investors that comprise 97% of the population. These new laws and regulations enable more people to invest in and provide financial support for a Main Street organization.
“A Capital Community acts like a volunteer fire brigade that comes together as needed, when needed, to support the specific capital campaign of an organization within their community,” said Dakin.
“A Capital Community may be framed as a geographical area, an industry, a social cause, or around another topic in which the members of the Capital Community have common interests,”
Space Capital Community (a temporary working name) is recruiting people interested in the space industry, space travel, and commercialization to come together. These people may contribute their time, their network of contacts, and/or their cash in order to advance organizations in this industry.
Over time, the group may elect to establish its own legal structure, either for-profit or nonprofit, to act as an association, an extension of an existing space advocacy group, an investment club or an investment fund.
Organizers said the formation of the Space Capital Community is a step forward in the evolution of a capital industry ecosystem in Colorado. The design, development, and operation of Capital Communities are the focus of the upcoming ComCap Colorado conference on Feb. 1 at the University of Colorado’s South Campus.