Aerospace Incubator Launches in Colorado

The nation’s first aerospace business incubator opened it doors this week at the Colorado School of Mines, positioning the state as a global economic center for the commercialization of space-derived technologies. With primary funding from the Colorado Economic Development Commission (EDC), the 8^th Continent Aerospace Business Incubator now serves as a virtual home for entrepreneurial companies that turn innovations from the Space Program and defense industries into profitable businesses and investment opportunities.

“With our aerospace workforce, research institutions and venture capital communities, Colorado is at the center of ‘Space 2.0,’ the emerging generation of entrepreneurial ventures that are solving some of the world’s biggest problems,” said Colorado Governor Bill Ritter. “From sustainable resources to alternative energy, from biosciences to IT, and from agriculture to tourism, aerospace technologies are integrating into every aspect of Colorado’s economy.”

The 8^th Continent Aerospace Business Incubator is supported by a $150,000 EDC grant matched by the Colorado School of Mines, the law firm Townsend and Townsend and Crew, and Metzger Associates Public Relations for a total of $372,000 in cash and in-kind services over three years. Incubator management and advisory services will be sourced through the Boulder Innovation Center, along with access to financial resources through 8^th Continent Funding Network partners including the Keiretsu Forum, Rockies Venture Club, TechStars and the Governor’s Office of Economic Development and International Trade.

“Our goal is to connect our Incubator tenants with the advisors, venture capitalists and service professionals who can help nurture inventions into profitable businesses,” said Burke Fort, Founder and Director of the 8^th Continent Project.

The 8^th Continent Aerospace Business Incubator also announced its first tenant today, an Australian company, flaik, Inc., that has developed a GPS-based skier tracking and social networking system that will debut at Steamboat and Copper Mountain this season. “Through the 8^th Continent Aerospace Business Incubator, flaik’s goal is to enter the North American market, and build a team with Colorado’s IT talent, ski industry and risk capital community behind it,” said Fort. “Companies like flaik are using commercial satellite technology to serve consumer markets, and is a perfect example of the Space 2.0 businesses that are forming in Colorado, and around the world.”