A push to reach out to women and minorities interested in starting a business helped The Commons on Champa win a $400,000 grant from the Kauffman Foundation, a private foundation that promotes entrepreneurship.
The Commons, a public-private venture, plans to use the money to develop a free accelerator called “Entrepreneurial Journey” that would provide educational resources for women, people of color, military veterans and new American citizens. The program aims to reach hundreds of entrepreneurs from underserved communities.
“The exact specifics are being developed, but will cover business planning, finance, legal services, the essentials of startup up and how to access funding. The program will emphasize the journey from starting, launching and growing a business and will be taught by a variety of community partners in Denver that are experts in their respective industries,” said Brea Olson, a spokeswoman for Downtown Denver Partnership, which helps run The Commons.
The Kauffman Foundation gave money to a dozen entrepreneurial-minded nonprofits that were picked from 376 applicants. Winners received grants between $87,000 to $420,000.
“Entrepreneurship in America should be available to everyone, yet women and minorities continue to face more obstacles to starting businesses when it comes to accessing funding, education, mentors and markets,” Kauffman’s vice president of entrepreneurship Victor Hwang said in a news release.
The Commons, which launched in May 2015, offers programs and seminars geared toward startups from food to cannabis to technology. It also offers office facilities and a spot for people to meet. The building, at 1245 Champa St., is owned by the city of Denver, which leases it to the Downtown Denver Partnership for $1 a year.
