Boomtown Accelerator

On day 1 of the Startup Community Leaders Mission we visited the Boomtown Accelerator in Boulder Colorado, after an introduction from Baden U’ren (Bond University, Gold Coast).

Boomtown is an accelerator that runs 2 programs per year (3 months long), and now has an alumni network of 60 companies from the past 3 years, 90% of which are still going, and 78% are generating profits (impressive stats).  Approximately 50% of the portfolio are health-tech related.  Roughly 50% of the teams in each cohort are typically local, and the rest come from around the world.

Most of the startups are very early stage, typically pre-revenue to revenue, with 2-4 people per team.  Teams receive $20k (USD) for 6% equity, and at the end of the program there is a demo day at Boulder Theatre with 800 attendees.

The accelerator is staffed by a team of 11 – which makes me cry a little in comparison with the small number of resources we have on hand to run our accelerators in Australia.  But they have the advantage of being privately funded by corporates and individual investors.

One of their corporate partners is Comcast, who sponsor a fully-equiped maker lab within their co-working space, for hardware startups to use for free (a selection process is used to select the teams who essentially receive a grant to be in the space).

They also have a partnership with Whole Foods Market, who provide healthy food options and run cooking classes in the space, because we all know how founders otherwise forget to eat, or rely on pizza at the next meetup event for their total dietary intake.

If you are a startup looking for an accelerator, or if you are in town visiting, definitely checkout the Boomtown Accelerator.

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