Friday March 6, 2015 0 comments
FORT COLLINS - Nonprofit tech incubator Innosphere reported 2014 was a successful year, with 42 client companies and 31 of that group collectively raising $21.3 million in grants, angel investment and other equity funding and the creation of 179 new jobs.
Those jobs paid an average salary of $56,000 for a full-time employee.
Innosphere's incubation program provides business support to startup entrepreneurs in the cleantech, bioscience and hardware/software industries.
Innosphere said 11 of its client companies graduated in 2014 after meeting their graduation goals, which included hitting a significant revenue target or achieving a strategic partnership with a stable funding stream.
"It's great to see Innosphere supporting so many companies in reaching their business goals and key milestones," said Mark Wdowik, Innosphere board chair and assistant VP for research and industry partnerships at Colorado State University.
"Every year I see more and more companies becoming investment-ready after taking advantage of all the services Innosphere has to offer."
Other Innosphere achievements in 2014 included:
· Attracting the largest cohort of new client companies in Innosphere's history
· Continuing to grow a cleantech program by recruiting a cohort of startup companies commercializing technology innovations to improve the efficiency of oil-and-gas operations and reduce environmental impacts
· Running the NoCoBio Cluster initiative to better support bioscience companies
· Opening an office in Denver and growing the digital health program for startups
· Organizing the well-attended Innovation After Hours monthly sessions
· Growing a network of more than 100 mentors
· Matching entrepreneurs to tailored funding opportunities through Innosphere's Access to Capital program
Innosphere said it is now accepting applications from companies that want to join its incubation program in the second cohort of 2015. The deadline to apply is April 10.
Applicants should have:
· A highly motivated founder with at least one team member working full-time on the enterprise
· Performed initial work to validate that their product meets specific market needs
· Raised at least three to six months' of working capital
· Developed a working prototype that has been tested by a prospective customer
"In the time period a startup is at Innosphere, they should be able to fully develop their product or service, identify their market, create their business model, hire their initial team, raise capital and generate income," said Mike Freeman, Innosphere CEO.
"We are always looking for companies to work with, exciting technologies, sponsors and investors to join our startup ecosystem."
Innosphere's funding partners include the City of Fort Collins, City of Loveland, First National Bank, FirstBank, Home State Bank, Wells Fargo, Colorado State University, CSU Ventures, EKS&H, Brownstein Hyatt Farber Schreck LLP, Fairfield and Wood PC, Bohemian Foundation and DuWayne Peterson.
For more information, contact Freeman at [email protected]