Tech incubator receives $99,000 state grant

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The Colorado Springs Technology Incubator has received an entrepreneurial training contract worth $99,000.

The contract from the Colorado Department of Labor and Employment will allow the incubator to train up to 30 unemployed entrepreneurs throughout Colorado who are attempting to launch businesses in renewable energy or energy efficiency.

To be eligible, fledgling business owners must be able to show that their potential business represents a true growth opportunity for the state.

“Providing training to early-stage companies with high-growth potential, including the steps needed to acquire capital, is a valid strategy for creating jobs,” said Incubator CEO Ric Denton. “Colorado Springs has a strong community of innovators and entrepreneurs, and I’m excited to see an increase in effort to support them.”

The award was part of a larger state program that gave contracts to organizations throughout Colorado. The project is financed with federal money through the American Recovery and Reinvestment Act of 2009.