Friday 17 May, 2013
As the old cliché says, ‘It takes money to make money.’ If you’re a small business just trying to get started in Denver, you know that’s absolutely true. While there are venture capital firms in Denver looking for smart start-ups to fund, it’s not always easy to find them. The Denver Capital Matrix is designed to take some of the headache out of it by bringing those funding sources to you.
The Denver Capital Matrix is a directory of funding sources now offered by the Denver Office of Economic Development. Launched in late 2012, it identifies over 250 different sources that fund small businesses. These include banks that offer business loans, venture capital firms, angel investors, private equity firms, mezzanine sources and just about anyone else that has ever provided funding for a Colorado business.
Using the Denver Capital Matrix
The Matrix is organized in such a way to make it easy for you to find the right type of funding source for you. Funding sources are broken up into the categories Venture Capital, Angel Investor, Private Equity and Mezzanine Financing.
Sources are then listed alphabetically, with one list for Colorado-based sources and another for nationwide sources that have provided funding for Colorado businesses. For each listing, it has the source’s website URL, address, phone number and a short description of its investment focus. Commercial banks and non-profits are also listed.
Startups Are the Future of Denver Business
Colorado isn’t exactly a hotbed of venture capital activity, although this is changing in recent years. The Denver Capital Matrix lists nearly 30 Colorado-based venture capital firms, which is a surprisingly high number, but many of them haven’t done any lending within the state for many years.
‘We heard the business community loud and clear when they said they need increased access to capital,’ said Mayor Michael B. Hancock during the October 2012 announcement of the Denver Capital Matrix. ‘By compiling these resources, the city is helping to raise awareness about the different types and providers of financing available and to ultimately help spur our start-up and small business growth.’
During the inaugural Denver Start up Week where the Matrix was first unveiled, Mayor Hancock said, ‘Denver wants to be the start up capital of the nation.’ Things are shifting in that direction and the Denver Capital Matrix is designed to help facilitate the changes. It’s estimated that start ups and small businesses will drive 50 percent of Denver’s workforce growth in the near future..
The Matrix is part of the Hancock administration’s Peak Enterprise initiative, a toolkit for businesses to get a head start and be competitive with businesses in other parts of the nation. The idea is to encourage businesses to locate in the Mile High City. The Denver Capital Matrix was unveiled during Denver Start up Week.
You can view the Denver Capital Matrix here – http://www.denvergov.org/Portals/690/documents/New/Denver%20Capital%20Matrix%2011-12-v1-final.pdf