Telluride, Colo. (June 14, 2017): Telluride Venture Accelerator (TVA), an initiative of the Telluride Foundation, invites the community to come to the fifth annual Demo Day on June 30th at 1pm at the Palm Theater, where seven graduating companies will present their businesses to the community. Each company will present their business in a seven-minute pitch and five minutes of Q&A. Following presentations, there will be a trade-show style event where the community can talk to each of the founders and interact with products and platforms. To register, visit www.tellurideva.com.
TVA is a 17 week, on-site program for early-stage entrepreneurs. This past year, it reviewed applications from over 178 startups and ultimately selected seven entrepreneurs from around the world to join the accelerator in Telluride. Upon being accepted, TVA invests $30,000 into each company. Teams move to Telluride for the spring shoulder season to participate in the business development curriculum and connect to the network of almost 100 TVA mentors.
To date, 19 companies have graduated from TVA, not including this year’s class of seven. As a result, five companies have based in Telluride and $22 million in additional capital has been raised. To date 76% of the companies are still active with 92 jobs created and 11 Telluride based jobs. On average, graduating companies have received $525,000 of additional investment from around the country within one year of their participation. Statistically, TVA ranks among the most effective accelerator programs in the world.
TVA is helping to reimagine what is possible in a mountain town by establishing Telluride as a hub of innovation. With the changing nature of work, Telluride can be a great place for entrepreneurs and their startup ventures to start and grow. TVA was initiated with the goal of diversifying the regional economy and helping to create new, high paying jobs that are less dependent on tourism and real estate. The future of smaller, remote communities like Telluride will depend on continuing to evolve and remain globally relevant. TVA’s long-term thesis is to help create ten, five million dollar businesses that call this region home, creating a new level of economic and social dynamics that could boost primary home ownership, average median incomes, and social mobility.
Almost every major mountain community is looking at the future and the need to create a more diverse and sustainable economy, and many are looking to entrepreneurship. TVA is helping lead this conversation among fifteen other mountain communities with its successful accelerator and investment opportunities, such as Telluride Angels, and Telluride Venture Fund. TVA, as a nonprofit entrepreneurship initiative, is funded by many generous donors and grants from the Department of Commerce, Economic Development Administration and the Colorado Office of Economic Development and International Trade.
The Telluride Foundation exists to create a stronger Telluride community through the promotion and support of philanthropy. It is a nonprofit, apolitical community foundation that provides year-round support for local organizations involved in arts, education, athletics, charitable causes, land conservation and other community-based efforts through technical assistance, education and grant making. As a grant maker, the Foundation awards grants to qualified applicants that serve the people living and working in the Telluride area for the purpose of enhancing the quality of life within the region. For more information on the Telluride Foundation, visit www.telluridefoundation.org.