By Margaret Hedderman
Startup Colorado recently concluded a special Founder Coopetition // Idea Factory program for entrepreneurs in Summit County. Our business pre-accelerator program, designed to support rural founders, was uniquely implemented in Summit County through a partnership with the Summit Economic Partnership. The event culminated with the announcement of CodeBeetle—a startup addressing the gap in computer science education in public schools—as the winner of the Summit Founder Coopetition.
Thayer Hirsh, Executive Director of the Summit Economic Partnership, described Summit County’s startup ecosystem as ambitious but still developing. “Summit County is home to many ambitious entrepreneurs, but our startup ecosystem is still in its early stages,” Hirsh said. “The region lacks the social infrastructure needed to connect the right people, facilitate collaboration, attract talent, and secure capital for growth.”
In addition to programs like the Founder Coopetition, Startup Colorado aims to address these challenges and strengthen the entrepreneurial ecosystem. Check out our purpose-built online community for rural entrepreneurs.
But first, what is a "coopetition"?
Startup Colorado’s Founder Coopetition pre-accelerator combines cooperative learning with a friendly competition. The Founder Coopetition serves early-stage founders with a solid business idea via our 4-week Idea Factory. From there, participants are encouraged to participate in the Growth Challenge, a 12-week intensive that will help founders scale an existing business.
“The Idea Factory helps founders refine their business ideas and strategize their launch strategy,” said Tim Martinez, Startup Colorado’s Director of Program Innovation and Development. “It’s intended for businesses with a clear idea who need guidance on their next steps.”
“Succinctly articulating your business idea, its potential, and its current needs is one of the most critical skills an entrepreneur can develop,” Hirsh noted.
Programs like the Summit Founder Coopetition are crucial for developing local startup ecosystems. They provide essential mentorship, funding resources, and networking opportunities, fostering innovation and supporting new businesses, which in turn strengthens the local economy.
The decision to bring the Founder Coopetition // Idea Factory to Summit County was a natural one for Hirsh, who had benefited from Startup Colorado’s programs when launching his business Knome Technologies. “Participating in—and winning—the original Founder Coopetition provided me with invaluable lessons that shaped our strategy,” he shared.
Serving founders in the place they call home
At Startup Colorado, we believe that anyone should have the ability to start and scale a business in the place they call home. Participants in the Summit Founder Coopetition are doing just that. In addition to the winning company CodeBeetle, the 4-week program also served founders building businesses in the outdoor industry, sustainability, and real estate.
“The Summit Founder Coopetition was an incredible opportunity to connect with other entrepreneurs, mentors, and investors,” said Aaron Landau, the co-founder of CodeBeetle. “We’re honored to have been chosen among so many talented individuals.”
CodeBeetle provides instructor-led coding classes for public schools, specifically aimed at helping those in smaller communities that do not have the resources currently offered in larger cities. Upon conclusion of the Summit Founder Coopetition, the business was awarded a $5000 micro-grant to support further business development.
What's next?
Following the conclusion of the Coopetition, the Summit Economic Partnership plans to continue supporting local entrepreneurs. “Our next steps include launching two new entrepreneurial programs this fall, modeled after Startup Colorado’s successful initiatives,” Hirsh revealed.Â
If you’re interested in learning more about Startup Colorado’s Founder Coopetition, contact Tim Martinez, our Director of Program Innovation and Development.
