Innovate Longmont: A Local Entrepreneurial Support Organization.

By: Jennifer Ferguson

When you start talking about startups, it’s easy to get confused by the whole alphabet of confusing terms, acronyms, and jargon. Unraveling this alphabet helps us understand the why, how, and who a nonprofit startup is, and how it helps Longmont.

“At the core of any entrepreneurial ecosystem, a startup community is a group of people who are fundamentally committed to serve and support entrepreneurs, while members of the larger ecosystem may have other motivations and interests”- Brad Feld, co-founder of Foundry Group.

Innovate Longmont is a 501.c.3 nonprofit whose mission is providing information, services, and spaces to create, sustain, and grow a connected and accessible local entrepreneurial ecosystem.

Taking a look at that jumble of words, let’s break it down.

Innovate Mirriam Webster’s definition of Innovate (verb) — “to make changes in something established, especially by introducing new methods, ideas, or products.” Innovate Longmont is founder-driven, and we challenge ourselves constantly against that goal. We can’t be afraid to take on the tough topics, deliver things before we are exactly sure what it is, and attempt to fill the entrepreneurs’ gaps. We strive to provide the established methods and build on them, creating unique offerings for Longmont. A great example of this process is the startup ‘Bricks’. Bricks was a part of the accelerator program offered by Innovate Longmont for tech companies and consumer goods and manufacturing. Bricks is a brand new flexible, shared retail space you can read about in this edition of Waggle.

Longmont- Information, programs, and places run by Innovate Longmont are open to all. We encourage everyone to participate, investigate, or experience the business and startup community here. The important part is that as an independent group, we can collaborate and partner with many government and non-governmental agencies, individuals, and organizations across Colorado. We strongly believe that by creating a connected community, we make Longmont a better place to live, work, and play.

Nonprofit- A nonprofit organization is a business that has been granted tax-exempt status by the Internal Revenue Service (IRS) because it furthers a social cause and provides a public benefit. Innovate Longmont is an Enterprise Zone Contribution Project which qualifies donations for a 25% tax credit… Learn more here https://choosecolorado.com/doing-business/incentives-financing/ez/enterprise-zone-contribution-projects/

Entrepreneurial Support Organization- the definition of an Entrepreneur is “a person who organizes and operates a business or businesses, taking on greater than normal financial risks to do so.” We help the risk-takers at no additional cost to them, other than their investment of time. Developing, launching, and scaling ideas into sustainable businesses is often lonely and hard, so having access to mentors, community resources, and support are critical to those people (we see you) who are determined to make their difference in the world.

Please consider getting involved and finding out more at www.innovatelongmont.org