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Colorado startup gaining ground with area venture capitalists

High-tech startup Prosperent is getting a lot of attention after a report earlier this month in the Colorado Springs Business Journal. The article stated the company was looking to move outside the Colorado Springs area in hopes of finding more programming talent that it needs to expand and grow the company. The article resulted in their phones ringing with a variety of inquiries, but it was two calls in particular that got the attention of the co-founders of the company. The first was a call from Colorado-based Access Venture Partners and the other was from the founder of Startup Colorado Springs, a member of the Peak Venture Group.

Both of these are networking groups for entrepreneurs. Access Venture is a venture capital firm that has invested $100 million in 50 different Colorado tech startups over the past dozen years or so and has also helped raise more than $1 billion from out of state. According to the managing director of Access, the firm acts as a bridge to the world of major money outside the state. He said venture capital is an issue in Colorado especially for early stage startups. Prosperent is an online advertising business that has some major clients, including QVC, REI and Zappos to name a few.

Access has worked with and helped a number of Colorado businesses along the Front Range, including Denver, Fort Collins and Boulder. He and a number of members of Colorado's entrepreneurial community have worked hard to bring in and retain the technical talent required for high-tech startups to thrive so he took notice when the report came out that one Colorado Springs startup was looking to relocate in order to find the talent it needs to succeed. Access Venture has not done much with Colorado Springs companies, but it is looking to change that.

Part of that effort includes connecting other groups like Startup Colorado Springs and Peak Venture Group with high-tech companies in the area such as Prosperent in order to grow the entire state's reputation as a viable location for startups. There are a number of other companies similar to Prosperent that could use some exposure to these groups and the resources they can bring to their efforts. Finding and attracting venture capital can be a tricky endeavor for many aspiring business owners who may not have the business financing or networking capabilities in their repertoire and need help from other entities to meet or exceed their business goals.

Source: The Colorado Springs Business Journal, "Prosperent, Colo. Springs, gaining VC attention," Amanda Miller, Nov. 16, 2012

Our Denver law firm assists entrepreneurs and startup companies with a number of business planning and formation services, including drafting solid business plans and sourcing venture capital to help a business succeed.

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