Essential tips for budding entrepreneurs seeking funding
Your pitch is often the first impression your company will make with an investor. The company can be amazing and if your pitch is still rough, your company looks rough too.
When you are in front of VCs or angel investors you know it can make or break your fundraising efforts. Combining two of the most challenging things someone can take on (entrepreneurship and public speaking) your presentation can be anywhere between enlightening and embarrassing for both you and everyone in the audience. Here are some ways I see people screw up the pitch of otherwise good startups. This isn’t an exhaustive list, just the most exhausting things I see on a regular basis.
I’m only talking about the pitch itself here; assuming that you have a company with a real product, a solid team, and traction in the market. You know what you’re asking for, your valuation is reasonable and defensible, and you don’t look like an idiot. Perhaps you even have over a million dollars in revenue and strategic partnerships in place – even those companies can mess it up. Whatever the case, you’ll probably have a short 5 -15 minutes on stage, and only a few slides (at most) to make a first impression.
Don’t blow it! Be mindful of what the audience is here for, and you have a much better shot at closing your round.
Here are 5 ways to screw up your pitch:
Overall, make an effort to be more aware of what your investors are looking for, and how you communicate most effectively on stage. If you’ve gotten to the point where everything else in your business is solid enough that the only thing holding it back is the pitch, consider yourself lucky. This isn’t an easy process, so learn as much as you can. Then go out, get more feedback and practice, and keep polishing!
Article by Tim Harvey, regular contributor for Rockies Venture Club blog.
When: June 25, 5-7pm
Where: Shift Workspaces, 383 Corona Street, Denver
Taught by Lauren Costantini, Ph.D. from CID4. CID4 is a not-for-profit organization committed to Economic Development Through Innovation Advancement in the life sciences industries, by providing investment capital and management assistance. Lauren also serves on a number of Advisory and Executive Boards for early stage companies.
This is the sixth of many blogposts in a series that I’m calling the Investor Pitch Deck Series. I am creating a post about each investor pitch slide, why it is important, the common errors, and how to communicate that you have what it takes to achieve your goals for this company.
(note, this is NOT a suggested order for sides in your deck)
The customer ROI slide is a new take on the old business model slide. By the end of this slide, your audience will feel confident that your user will use your product, and your payer will pay for it.
User: The person or business who uses your product.
Payer: The person or business who pays for your product.
With traditional consumer goods, the user and the payer are the same person. However, with many business models, the user and the payer are totally different entities and you have to acknowledge both for your investor to really GET your business.
Think about your toothpaste at home on your bathroom sinktop. It’s a simple product. It’s pretty basic. Do you buy the same kind every time you run out. Do you switch between brands? Why? Your investors will need to know why potential users will switch from whatever they are currently using (or not using) and start using your product. This value to the new user is called the User’s ROI or Return On Investment. Users are not investing capital; they are investing the energy required to make a change in their habits. Identify the User’s ROI and your venture capital or angel investors will feel much more comfortable with your product.
Now about the Payer’s ROI. It’s graduation season so I’ll use a college analogy about parents who send their kids to college. Parents are paying for the education, but not directly using it. Of course there is a benefit for Mom and Dad. By paying for college, their kid is more likely to get a degree thereby lowering the odds that they will move back into Mom and Dad’s basement bedroom. How do the parents choose which school to send their child to? The Payer’s ROI often a complicated answer when they are not also the User. The Payer wants a good deal financially, but they also want a perceived value for their dollar that has nothing to do with direct use of the product.
Other examples of payers who are not users:
Why this makes us cringe: Status quo, apathy, and disuse are the reasons that products die.
How to do it right: Your investors want to be reassured that you are a realist. A realist knows that a new product, no matter how sexy, inexpensive, functional, or perfect, will not become instantly adopted by the world. There are plenty of products out there that consumers are happy to use for free, but will abandon when a financial transaction is required. If you are in revenue, you must show your potential investors a trend of increasing paying customers over time. If you cannot show this positive trend then you must have a good reason for a lack of increasing adoption. Alternatively, you can devise a way that you can monetize your product without the user having to pay.
Why this makes us cringe: Investors are afraid that no one will be willing to pay for your product.
How to do it right: Make the Payer ROI very clear in your pitch. If your product is faster to install and cheaper to run than the current solution, then you have a great argument. Visually show your audience that a payer can currently expect to pay $2000 a pop for the current solution and would only have to pay $800 for yours. Further, you can install yours in minutes instead of days. We want specifics with the Payer ROI description. Beat us over the head with your Payer ROI. Don’t leave it to the imagination.
Why this makes us cringe: Many products are free to users these days. (Thanks, Google!) So, who are you planning to get your revenue from. It’s not always obvious.
How to do it right: Even if you are selling a product directly to users, be explicit about who pays for your product. You can go one step farther and discuss your price point. It’s a lot easier for investors to picture a successful transaction when they understand whether the cost of the product is reasonable.
One of the simplest ways to show customer ROI is to create a graph of potential savings that a customer might experience if they were to switch to your product.
If your user is not going to pay for your product, you will need to describe a non-financial ROI. It’s not enough to have a better product. People need a very compelling reason to change their habits.
Article by Nicole Gravagna, PhD, Director of Operations for the Rockies Venture Club as part of a series on the elements of an investor pitch deck. The next in the series is ….
Colorado has a lot to offer cleantech entrepreneurs, from targeted grants, to easy access to NREL’s technology commercialization resources, to cleantech focused entrepreneurial programs at top research universities, to name just a few. There is no more supportive place in the country to launch a cleantech company, which gives local angels a distinct advantage when investing in this growing, and complex, industry. Colorado knows about investing in cleantech.
The only way the community could do more to support cleantech would be to scour the country for experienced, successful entrepreneurs, bring them to Colorado and immerse them in the local cleantech ecosystem, then provide guidance from industry experts as they develop business ideas around one of the numerous innovations emerging from local government labs and universities. Enter the Cleantech Fellows Institute, a Colorado Cleantech Industry Association (CCIA) program established to do exactly that.
The Institute kicked off in 2012, with a class of 5 Fellows who had considerable entrepreneurial experience outside the cleantech industry. The Fellows knew how to start a business, but they didn’t know cleantech, so they spent 175 curriculum hours listening to 160 speakers, and took almost 30 cleantech related tours, to come up to speed. Each Fellow undertook a capstone project centered on a new cleantech business idea, and in the Institute’s inaugural year this exercise led to the creation of two seed-stage companies and one non-profit.
Under the direction of Executive Director Steve Berens, the Institute is now accepting applications for its second class of Fellows. This year the program is undergoing some changes based on lessons learned from the first class, including an expanded international component. The program will include a week during which delegates from around the world descend on Colorado to participate in the Institute’s activities and make connections between the cleantech communities in Colorado and their home countries.
Clearly, Colorado is putting a lot of effort into stacking the odds in favor of the Fellows and the cleantech companies they hope will emerge from the Institute. The VC community has taken notice, as evidenced by the 19 venture capital partners the program has brought on board to date. However, there is room for additional engagement from Colorado based angels, who have an advantage in their ability to participate throughout the process since the Institute is based in their own backyard. Interested angels can send an email to mailto:firstname.lastname@example.org learn more and sign up for regular email updates.
Even with all of the support Fellows will receive through the Institute, cleantech remains one of the most challenging industries in which to start a new venture. The Cleantech Fellows Institute provides access to critical knowledge and a great support network, which will reduce risks in my opinion but it certainly doesn’t come close to eliminating them. The real determinant of the program’s ability to spawn successful cleantech startups is underway right now: the Fellows application process. The quality of the Fellows accepted into the program will have the greatest influence on how successful it is, and the ability of local angels to get to know the Fellows over the course of the program is an opportunity that should not be missed.
Fundraising for start-ups is a popular topic these days. There is a lot of glory in receiving big money from investors. After all, there must be promise in your company if Angels or VCs are willing to invest.
Have you ever tried to reach the pot of gold at the end of a rainbow? Literally. Like, have you ever seen a rainbow and tried to walk or drive to the end of it? It’s impossible. The end of the rainbow is elusive. And its location fluctuates and often disappears altogether. This is a fantastic metaphor for fundraising.
An entrepreneur is sometimes more likely to grow a company by financing it themselves and working hard to build their business from the ground up. What’s more, the bootstrapping entrepreneur will gain better control over the future decisions–something that may disappear with big investors on board.
Sure, some start-ups do gain a bit of notoriety when they become venture-backed, but at what price? If someone is going to give you loads of money, they don’t do so without expecting a lot in return. Fundraising is “really like celebrating someone going into debt. Even equity investors expect a payback.” Does a business founder really want to owe everything to backers? If you have a strong notion of how you want to build your company, it can pay to make your way independently.
So what exactly does bootstrapping a business involve? Bootstrapping in business means building a start-up by using internal cash flow (as opposed to money from family, friends, or investors) and little to no external help. This method of growth is undeniably slower than big investments up front, but the time and effort can pay off. As “angel investor and wine entrepreneur Gary Vaynerchuk has said, ‘My dad taught me that when you borrow money it’s the worst day of your life.’” The bootstrapper can obtain financial independence and pursue the mission of her start-up unabated if she is willing to go the distance. Nobody will be knocking on her door looking for a return on investment except herself.
What are some ways bootstrappers can keep the company afloat in this entrepreneurial journey? After all, it’s not easy by any means, and there will be perils around many a corner. Startups can grow by reinvesting profits in their own growth if bootstrapping costs are low and return on investment is high. The entrepreneur can also continue working otherwise to fund the new venture. Or the business model might require customer financing – asking for payment up front before the service or product is delivered. And of course, there are an unlimited amount of other creative solutions for bootstrapping, ones to be determined most useful on a per-company basis.
What are some examples of successful bootstrapping? You might see somebody with experience in start-ups creating a new business. Nick Denton is a good example –after leaving his first company, First Tuesday, this guy worked out of an inexpensive storefront to build Gawker, a company now valued at $150 million. On the other end, you have Sophia Amoruso who worked inconsequential odd jobs until she earned profitability and $30 million in annual sales with her clothing start-up, Nasty Gal. She bootstrapped her way to success in five years of sales on Ebay.
All of this bootstrapping talk isn’t meant so much as a deterrent to fundraising as it is used to suggest an alternative method for more securely and independently building your business instead. Nobody can deny the allure of that pot of gold at the end of the entrepreneurial rainbow. I mean, who would say she doesn’t want her idea or product to hit it big in all senses of that phrase? It’s just that very few ventures will actually end that way so easily and without consequence. If you want control, financially and structurally, of your company, it just might be better to spend the time buying a pot, finding gold bit by bit to fill it, and then painting the rainbow yourself.
Stacy Gregg is an educator, runner, reader, and mom to two energetic pre-schoolers. She joined the Rockies Venture Club at the end of 2012 to support the communications side of the organization.
From time to time a new ranking of the VC must-read blogs appears on the internet. During the research for this post I went through many of them, some based on the number of unique visits some others on the author´s quality scale or personal preferences. As it turns out, the first fifteen positions are always taken by the same guys.
In a world where internet has taken over and leadership claims to be global, it occurred to me to check the relationship between an active and prolific VC community (based on # of deals and $ invested) and the existence of VC thought leaders in that community.
California, Massachusetts, New York, Washington and Texas ranked in the top five positions in terms of venture capital invested based on the 2012 figures provided by the National Venture Capital Association (Colorado was 6th. Yay!). Let’s see who are the most relevant venture capital bloggers in these communities and what are they saying.
For the purposes of this post a state is considered a Community and blogger is a thought leader. In the VC world, bloggers aren’t just opinionated, they are professionals with years of experience.
Eureka! We have found it, the world champion in Venture Capital based on number of deals and amount invested. Thus it doesn’t come as a surprise that it is also the winner for the number of relevant bloggers!
Firm: August Capital
Blog: Venture Blog.
Firm: GRP Partners
Firm: Y Combinator
Firm: Andreessen Horowitz.
Firm: Andreessen Horowitz
Blog: ben´s blog
Meanwhile on the opposite coast, Massachusetts emerges as the second VC power.
Firm: Next View Ventures
Firm: Volition Capital
Blog: Thinking about Thinking.
With New York City as largest, richest and most influential regional economy in the United States, and Manhattan as the home to six major stock markets, venture capital is rapidly growing in this region.
Firm: Union Square Ventures
Firm: Brooklyn Ventures
Nobody stood up in the Seattle community until the 7th of October of last year, when the VC Greg Gottesman wrote his first blogpost.
“The exception that proves the rule?” With a GDP bigger than The Netherlands or South Korea Texas ranks the 15th economy in the world and the 5th state in VC investment… And there is nobody taking the lead out there in the bloggosphere… The more I think about the whys of this, the more my fingertips tingle for a new blogpost.
If you are reading this and you know of someone please let us know we will be happy to include a Texan blogger!
Yup! I know It´s out of the top 5 but…
Firm: Foundry Group
Blog: Feld Thoughts
In a nutshell, in California, Massachusetts, New York and Colorado the equation seems to work and a high levels of investment are accompanied by well-know blog leaders spreading the word out. On the contrary, Texas and Washington don’t follow the pattern! Yes, on the internet area leadership is global, but to certain extent VC investments and communities are still local and so they are their know-how and customs. Texan and Washingtonian bloggers or bloggers-to-be raise your voice! We avid readers, entrepreneurs, innovators, angels and investors want to know and are waiting for you!
About the Author: Sara Rodriguez is the new Associate Director of the Rockies Venture Club. Please consider welcoming her and introducing yourself when you see her at RVC events.
Article by Tim Harvey, regular contributor to Rockies Venture Club Blog
This week, Fusion-io acquired Louisville, CO based NexGen Storage for $119 million. The next day, I had a chance to sit down with venture capitalist Kirk Holland of Access Venture Partners, who was also on NexGen’s board. Access Venture Partners co-led the $2 million series A round with Grotech Ventures, and Next World Capital later led the $10 million series B.
NexGen founders John Spiers and Kelly Long have been around the venture capital circuit before – they were co-founders of Boulder-based data storage company LeftHand Networks, which sold to Hewlett-Packard in 2008 for $360 million. A few years later, they again had a vision for a better data storage technology and started from scratch. This time around, solid-state disk drives and cloud infrastructure were ever more important, and they developed their product from the beginning with these ideas in mind, building it to intrinsically protect their competitive advantage. John and Kelly bootstrapped NexGen to get started in 2010, and reached out to Kirk regarding venture funding after about 6 months. Due diligence meetings, which went on for a few months, were held in Kelly’s basement where they first hatched the idea of NexGen – and a few short years later the $12 million in capital turned into an acquisition nearly 10X that amount. The exit was faster than expected, but they thought the terms were great and they were excited to work with Fusion-io.
Kirk’s previous firm, Vista Ventures in Boulder, began investing in LeftHand in 2001 so he had the chance to get to know John and Kelly over many years. He was impressed with the team more than 10 years ago, so in this deal he said “working with John and Kelly took the team risk off the table.” Given this strong relationship and the fact that LeftHand had one of the biggest VC exits Colorado has seen, they were ready to do it again. “The industry was pretty crowded when we made the investment,” Kirk said, with both venture-backed and big name tech companies all trying to do the next big thing in data storage. He thought NexGen’s technology could leapfrog the other products, and the experts Access Venture Partners brought in for due diligence confirmed that. “They were really passionate about building a great, sustainable business. NexGen reinforced the idea of working with trusted relationships,” Kirk said.
Access Venture Partners is a big name in the Colorado venture capital landscape. This is the second fund they’ve closed, and the MD’s there have invested over $100 million in more than 50 technology startups so far. These companies as a group have gone on to raise over $1.1 billion in additional capital, growing revenue 15X since initial investment, and creating over 3500 high paying jobs in Colorado. AVP currently has 20 companies in their active portfolio, with 19 successful exits. Their focus is on high-margin technology businesses in large or rapidly growing markets, especially in data security/storage, cloud computing, and digital media/consumer internet businesses. They lead the vast majority of fundraising rounds they participate in, and while sometimes that means writing the largest check, they also lead by investing first and getting other VC firms on board. They also like to work closely with entrepreneurs after the investment is made, often taking a board seat and using their connections to help place key executive talent, as they did with NexGen.
Kirk is a heavy hitter in the area as well, after moving to Colorado from the Bay Area. In addition to the nearly $500 million in exits he’s been involved with through LeftHand and NexGen, he led the Series B round for Rally Software, which raised $84 million in an IPO in April 2013. He was also an investor/board member for MX Logic, an Englewood, CO SaaS company that sold to McAfee in 2009 for $140 million. He’s been a TechStars mentor from the start, with Access VP also supporting and investing there early on. His focus within AVP is on cloud technologies and SaaS/consumer internet companies, and although he likes to leverage existing relationships, he also explores as many other startups as he can. “You have to keep looking under rocks and be open to the next generation,” he says. He believes in entrepreneurs who are passionate about building a great company, not looking for a quick buck. “It’s a red flag when I think someone is only in it for the money,” he says. Nonetheless, many of these companies have gone on to create substantial value here. “We’re really most happy for the founders and the (NexGen) team’s success. We’re here to support the entrepreneurs, but they’re really the ones that drive it.”
Big exits, especially in the 9-figure range like NexGen, are going to really help put Colorado on the VC map. While Boulder may be famous from investors like Brad Feld and TechStars, Kirk believes there is a shortage of early-stage capital in the area. “Early-stage investment has dropped in Colorado over the last 5-10 years as VC’s didn’t raise follow-on funds, while the number of young companies has grown”, he says. Venture capital isn’t limited to state lines, but it’s certainly helpful to have investors nearby. Fusion-io actually has offices just miles from NexGen, so this acquisition was sort of in their backyard as well. The universities in the area (CU, DU, CSU, Mines) attract technology and engineering talent, and many of the students that come to Colorado don’t want to leave after graduation. That’s what happened to me, and even though skiing might’ve been my excuse to move here when I was 18, it’s the people and the startup community (and the weather) that have keep me here. These schools also have close connections to the startup community, through groups like CU’s Deming Center for Entrepreneurship, and Colorado School of Mines’ Technology Transfer program to help students commercialize their inventions. Big players like Google, Microsoft, and Oracle are also importing talent by adding to their already-large ranks in Colorado. “The people here are very motivated and passionate about what they do,” Kirk says, “without the focus on a quick buck that leads to higher employee turnover rates” that concerned him with some companies he saw in the Bay Area. Colorado is also a less expensive place to build a business than anywhere in the big coastal cities, and still has solid venture capital groups like VCIR, Rockies Venture Club, as well as the sweetheart of Boulder, TechStars.
Although April was a great month for Colorado VC-backed firms, we have to keep innovating and building great companies to strengthen the region. More investment capital will certainly help – but it’s the people here that drive entrepreneurial success.
Article by Tim Harvey, regular contributor to Rockies Venture Club Blog
If you really want to understand venture capital. Read venture capitalists’ blogs. Here is the most complete venture capitalist blogroll I’ve ever seen. Shamelessly stolen from National Venture Capital Association amazingly informative website.
|VC Firm||Name of VC||Blog Name|
|Andreesen Horowitz||Marc Andreesen||pMARCA|
|Atlas Ventures||Fred Destin||Fred Destin’s Blog|
|Atlas Ventures||Max Niederhofer||Max Niederhofer|
|August Capital||David Hornick||VentureBlog|
|Ballast Point Ventures||Navigating Venture|
|Battery Ventures||The Whole Stack|
|Benchmark Capital||Bill Gurley||Above The Crowd|
|Bessemer Venture Partners||David Cowen||Who Has Time For This?|
|Bessemer Venture Partners||Sarah Tavel||Adventurista|
|BOLDStart Ventures||Ed Sim||BeyondVC|
|Canaan Partners||Alok Mittal||VentureWoods|
|Canaan Partners||Izhar Shay’s||StartupStadium|
|CommonAngels||Chris Sheehan||Early Stage Adventures|
|DFJ Esprit||Nic Brisbourne||The Equity Kicker|
|DFJ Portage Venture Partners||Matt McCall||VC Confidential|
|Draper Fisher Jurvetson||Tim Draper||The Riskmaster|
|Edison Ventures||Edison Community Blog|
|Finaventures||Rachid Sefrioui||Rachid Sefrioui on Venture Capital|
|First Round Capital||Josh Kopelman||Red Eye VC|
|Flybridge Capital Partner||Jeff Bussgang||Seeing Both Sides|
|Flybridge Capital Partners||David Aronoff||Diary of A Geek VC|
|Flybridge Capital Partners||Michael Greeley||On The Flying Bridge|
|Flybridge Capital Partners||Chip Hazard||Hazard Lights|
|Flybridge Capital Partners||Jon Karlen||Venturing Forth|
|Flybridge Capital Partners||Matthew Witheiler||Bits of Cents|
|Foundry Group||Jason Mendelson||Mendelson’s Musings|
|Foundry Group||Brad Feld||Feld Thoughts|
|Foundry Group||Ryan McIntyre||McInBlog|
|Foundry Group||Seth Levine||VCAdventure|
|GGV Capital||Jeff Richards, Partner||13 Hours to Think|
|GGV Capital||Glenn Solomon, Partner||Where Sand Hill Road Meets Wall Street|
|Grotech Ventures||Don Rainey||VC in DC|
|Highland Capital Partners||Alex Taussig||ataussig.com|
|Highland Capital Partners||Bijan Salehizadeh||TheBij.com|
|Highway Ventures||Highway 12 Ventures Group Blog|
|Hummer Winblad||Will Price||Process & Iteration|
|Institutional Venture Partners (IVP)||Jules Maltz||better late than never|
|Intel Capital||Christine Herron||Christine.net|
|JumpStart Inc.||JumpStart Blog|
|Levensohn Venture Partners||Pascal Levensohn||Pascal’s View|
|Lightspeed Venture Partners||Lightspeed Venture Partners’ Blog|
|Matrix Partners||David Skok||For Entrepreneurs|
|Matrix Partners||Antonio Rodriguez||The Onda|
|Mayfield Fund||Allen Morgan||allensblog|
|Mohr Davidow Ventures||David Feinleib||vcdave|
|New Atlantic Ventures||New Atlantic Ventures Blog|
|New Enterprise Associates||NEA Blog|
|Okapi Ventures||Mark Averitt||OC VC|
|Point Judith Capital||Lee Hower||AgileVC|
|Polaris Venture Partners||Ryan Spoon||RyanSpoon.com|
|Polaris Venture Partners||Mike Hirshland||VC Mike’s Blog|
|Safeguard Scientifics||Safeguard Scientifics’ Blog|
|Scale Venture Partners||Rory O’Driscoll||VC Matters|
|Trident Capital||Evangelos Simoudis||Trident Capital Blog|
|Union Square Ventures||Fred Wilson||AVC|
|Volition Capital||Larry Cheng||Thinking About Thinking|
Guest post from Michael Price posted from www.connectedwest.org
Email: email@example.com or call 720-515-7581
By Michael Price, Executive Director of the Coalition for a Connected West
Something pretty special has been brewing in Colorado recently. It’s no secret that Boulder has become the next tech diamond in the rough—landing the top spot as a hot hub for new tech startups, other tech talent and private investment. At Coalition for a Connected West, we sense a refreshed and serious commitment by Colorado’s lawmakers to work with the Coloradans to ensure the right regulations are in place to support expanding connectivity and flourishing innovation and private investment. That’s why we took the opportunity to bring thought leaders, techies, and lawmakers together at the state Capitol to talk about hot legislative issues and business needs to create a more business- and tech- friendly environment in Colorado.
Last week, the Coalition for a Connected West joined the Colorado Technology Association (CTA) and Built In Denver to host “A Day at the Capitol.” It was an opportunity to celebrate Colorado’s culture of innovation and establish a direct dialogue between policymakers and the technology community. Nearly 200 tech leaders attended the event, which included some of Colorado’s top thought leaders in technology, all dedicated to creating connected and thriving business and tech communities in the state.
[Watch the YOUTUBE VIDEO of CTA Day at the Capital Event]
Erik Mitisek, the newly announced CEO of the Colorado Technology Association and member of CCW’s advisory board, set the tone:
“Technology is the center-pivot that really is going to fuel innovation, efficiency and allow our state to be competitive in ways that we haven’t even thought of yet.”
On behalf of our partners, I moderated “Innovation and Growing Technology Companies,” a panel discussion featuring Colorado’s leading entrepreneurs and Wyoming State Senator Cale Case. The engaging panel included Peter Hudson, CEO of iTriage; Tom Higley, CEO of Vokl; Brian Pontarelli, CEO of Inversoft; and Will McCollum, Denver General City Manager at Uber , who discussed the ingredients that lead to growth in the technology industry.
The general consensus was that innovation needs space to thrive without burdensome regulations that could slow it down. We also emphasized the need for Coloradans to be more involved in the policymaking process. CCW is about generating a dialogue between the IT community and the policymakers that affect our lives and businesses.
Andrew Romanoff, former speaker of the Colorado House of Representatives, gave a presentation on how the legislative process works:
“I’m glad that you are taking the time to lift the lid on the Golden Dome and see what goes on underneath because I think it’s the only way, the best way to make this process as responsive and accountable and transparent as possible.”
During the event, the Colorado General Assembly was in the midst of the final days of the Legislative Session. Several important measures that would impact the technology community were being considered, including HB 13-1255. The bill, authored by state Rep. Angela Williams, would create an environment conducive to encouraging investment in IP-based communications networks. These next-generation networks are necessary to support the data-heavy traffic generated by devices like smartphones and tablets that have become central to our lives and our economy. Similar legislation passed in Wyoming, which Sen. Case brought up during the panel discussion as a way that states with rural communities like Wyoming and Colorado could use to send a signal that they are open for tech business.
While the legislation passed unanimously in the State House (62-0), it is currently pending in the State Senate. CCW and CTA are calling on Coloradans and members of the tech community to reach out to their senators and ask them to support the legislation.
CCW would like to thank CTA and Built In Denver for working with us to create a better future for Colorado and hosting a great event!
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