“Harnessing the power of community”
is Traxion’s tag line and it certainly is a great description of our first four months. We set out to create Traxion because we believe in entrepreneurship and in Golden. In addition to the considerable work put into forming and launching the accelerator, we have spent a good deal of time talking to successful entrepreneurs, educators and business leaders in the local community. One of the most energizing aspects of this venture is being a catalyst for the startup community. Golden has a vast amount of talented resources throughout the community and we are doing as much as we can to connect those resources.
"Golden has a vast amount of talented resources"
Chris Cone and Jen Thoemke founded Traxion LLC January 2016 with a desire to bring a business accelerator to Golden and greater Jefferson County. Chris and Jen met through the City of Golden’s Economic Development Commission (EDComm) and share a passion for establishing a business accelerator in their hometown.
Traxion’s philosophy is that great companies are built by great people and that great people are developed by a community providing the critical support needed for an individual to realize more of their true human potential.
Business accelerators and incubators are taking root in many communities across the world, including several in the state of Colorado. However, there was an obvious lack of accelerator programs in Golden and the surrounding areas. We are structured around a traditional accelerator business model. The basic function of an accelerator is to provide early-stage companies with the infrastructure required to efficiently start-up and to create value in a condensed period of time. An accelerator typically runs over several months and includes a highly targeted startup business educational program and connections to experienced mentors. In addition to infrastructure and mentorship, accelerator funds typically invest a seed amount of capital (under $50,000) for a non-controlling interest in the company. Accelerator returns are generated by driving value in the portfolio companies with the goal of securing follow-on investment at the end of the program. Accelerator investments are typically long-term.
Traxion’s first accelerator program begins on August 29, 2016 and will run for 12-weeks. The program begins with a 1-week intensive "Startup Boot Camp" and ends with follow-on investor meetings in November. The accelerator companies will operate out of a beautiful new 3rd floor location in the Armory building in downtown Golden. We plan to have between 4 and 8 companies in this first cohort. We are currently working with several entrepreneurs to participate in this initial class and we are actively seeking other companies to apply to our fall program.
We are in a rapidly changing world. Our entire industry model is changing. The dream of starting a business is more tangible now than ever. That does not make it any easier.
There is a cost to stepping out on your own.
It is risky, costly and lonely at times.
Traxion exists to help mitigate these costs.