Saturday June 30, 2012 0 commentsFORT COLLINS -- 1stBank of Colorado announced a $75,000 sponsorship of the Rocky Mountain Innosphere, the Fort Collins-based non-profit technology incubator.
Patrick Brady,1stBank president, said the bank's investment will support high-quality startups in Northern Colorado and help make a positive economic impact in the region, as the Innosphere provides support to more than 30 start-up companies with nearly 200 employees.
1stBank President Patrick Brady made the announcement Jun 29. The investment is for $75,000 spread over three years. This new resource will allow the Innosphere to pursue its key objective of improving access to capital for entrepreneurs. The funding will also allow the Innosphere to diversify its revenue stream from its key funding partners, Colorado State University, Colorado State University Ventures and the cities of Fort Collins and Loveland.
"1stBank is proud to be able to support job creation, innovation and entrepreneurship in our community," said Brady. "The Innosphere plays an important role in our regional economy, and we are dedicated to supporting their mission of attracting millions of dollars of new investment into our community."
Mark Wdowik, president and CEO of CSU's Management Corp. and chair of the Innosphere's board, said the aligning of 1stBank and Rocky Mountain Innosphere makes sense because 1stBank has always been an active participant in the Northern Colorado Innovation Ecosystem and they, too, have grown through innovative services.
"We are fortunate to have the support of the largest locally-owned banking organization in Colorado, and we welcome 1stBank as a new financial supporter," Wdowik said.
1stBank now has over $11 billion in assets and over 125 locations in Colorado, Arizona and California. 1stBank is the largest locally- owned banking organization in Colorado, serving more than 600,000 customers, and is unique in that a majority of its stock is owned by management and employees.
Rocky Mountain Innosphere was formed to accelerate the success of high-impact scientific and technology startup companies and promote the development of a regional entrepreneurial ecosystem in Northern Colorado.
RMI provides entrepreneurial startup companies with resources such as assistance with raising capital, access and connections with academic and government institutions, a network of advisors and mentors, discounted professional service providers and educational and networking opportunities for realizing business success.
For more information contact Mike Freeman, CEO, Rocky Mountain Innosphere, (970) 818-7736.