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Teamwork venture aids high-tech associations in Colorado

October 19, 2004 /

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Bear Paw Development Corporation is a private non-profit organization created for the purpose of administering programs to help improve regional economic conditions in Hill, Blaine, Liberty, Chouteau and Phillips Counties and the Fort Belknap and Rocky Boy's Indian Reservations.

There is at least one silver lining to Colorado’s recent tech bust: teamwork.

That is the driving force behind the Advance Colorado Center, a unique economic development venture that will open its doors next month in the south tower of Denver’s World Trade Center.

By Ross Wehner
Denver Post Staff Writer

http://www.denverpost.com/Stories/0,1413,36~33~2477091,00.html

The project was the brainstorm of the state’s Office of Economic Development – in the same building – and was made possible by $640,000 in federal discretionary funds managed by the University of Colorado at Denver.

The basic concept is to rent 6,000 square feet of office space, hire an office administrator and create a common headquarters for Colorado’s leading high-tech industry associations.

The first tenants, who will pay no rent and get basic office services for three years, are industry associations that represent more than 600 local high-tech companies.

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The associations are the Colorado BioScience Foundation, the Colorado Software & Internet Association, the Colorado Film Commission, the Colorado Environmental Business Alliance and CTEK.

"During down times, people are more open to teamwork," said Brian Vogt, who took over as the state’s director of the Office of Economic Development in March. The idea for the project was hatched in August and advanced quickly, he said.

Vogt said a project like this would have been tough to launch during a boom time when companies focus on fast growth and have less time for long-term strategic planning.

CTEK president Lu Cordova agrees. Her Boulder-based organization helps entrepreneurs network with angel investors and business mentors.

Cordova, who took over CTEK in 2001, used the dog days of the dot-com bust to sign up nearly 700 financial experts and executives who have agreed to volunteer their time and expertise to future startup companies.

"I want to build enormous excess capacity for when the economy turns around," Cordova said.

Cordova says CTEK advises 100 companies, a number that will climb fast because of the Advance Colorado Center. She expects plenty of bioscience and software referrals through her soon-to-be office mates – not to mention the state’s Small Business Development Center, which is in the same building and operates a network of 16 offices across the state.

"We are going to be able to look across our membership and see how we can serve them better," said Denise Brown, executive director of the Colorado BioScience Association. "We will not be so much in silos."

She said the free rent provided by the Advance Colorado Center will allow her organization to expand its programs in other parts of the state.

The association will continue to operate its old headquarters at the Fitzsimons campus in Aurora and will open a part-time office in Fort Collins as well.

Su Hawk, president of the Colorado Software & Internet Association, said the center will allow local software, biotech and other tech companies to combine in new ways.

"I just know there are going to be synergies that we would have never imagined," she said.

Staff writer Ross Wehner can be reached at 303-820-1503 or [email protected] .

Colorado Software & Internet Association

Mission: To foster innovation and growth for the technology industry in Colorado.

Number of members: More than 250

Industry employment: 110,000 (includes information technology, software, Internet and related telecom workers)

Website: http://www.coloradosoftware.org

CTEK

Mission: Uses financial experts and executives as voluntary advisers to entrepreneurs working with innovative technologies.

Number of firms being advised: 100.

CTEK advisers: 700 volunteer senior advisers

Website: http://www.ctek.biz