On Sept. 14, the Forum met with representatives of the state of Colorado, specially from the Office of Just Transition (OJT), about a program that begins at the end of September. The Office of Just Transition is a state organization established to support communities transitioning away from the coal economy.
Jessica Smith, Public Information Officer for Government, Policy and Public Relations, told the Forum she hopes former coal workers from the West End will apply to be in the upcoming Idea Factory program. Applications are due Sept. 18, but that date is considered a priority deadline. Applications will still be taken after Friday, leading up to the program’s start date.
The Idea Factory program begins Sept. 30 and runs for four weeks, completing on Oct. 21. It’s designed to support former coal employees in starting their own businesses. In this way, they’ll receive training and get to talk about their ideas, with support on how to launch them. It’s also open to those with an existing business.
“Some might have a business and want resources or help,” Smith said.
The program, which meets once weekly for two hours, is an opportunity for West Enders to look into issues like sourcing and get familiar with their resources. They can pitch their ideas and get feedback.
The Idea Factory webpage lists that participants will receive funding assessments, the pros and cons of different funding models, direct connections with expert advisors in the state and a supportive community made up of fellow entrepreneurs, plus more.
The end of the month-long training will culminate with a one-on-one session with a mentor to work through final questions. There will also be an option to have more support, after the Idea Factory ends, however.
Cassie Mason, also in Monday’s meeting, said funding exists for former coal workers, in the amount of $11,250, for business support programming. She said completing the training in October helps the coal workers access that money. Though, the Idea Factory is open to anyone in a Just Transition community, and that includes those living in Nucla, Naturita and Norwood, whether they worked in the coal plant or the coal mine or not. The funding, though, is designated for the former coal employees.
Mason added there are other ways former coal employees can access or use their allocated $11,250, through retirement plans and other transition support.
“It’s one piece of the larger program to support coal workers,” Mason said.
To read more about the Idea Factory, or to apply, those in the West End should access https://startupcolorado.org/accelerators/idea-factory/.
“The Idea Factory is a four-week accelerator program tailored for early-stage entrepreneurs ready to transform their innovative ideas into actionable, launch-ready plans,” the webpage explains. “Join a community of motivated founders and work closely with our expert advisors to fine-tune your business strategy. At the end of the program, you’ll be prepared to succinctly summarize and pitch your idea in 90 seconds to a committee of expert advisors and funders.”
The application can be found here: https://airtable.com/appecgjAEPF6G0oQe/pagtMgYa6kUYSioQj/form.
