Culture of Innovation
An ecosystem of innovation that changes the world
Innovation
With deep connections to our world-class educational network coupled with impactful investment, public and private innovation thrives here. It’s part of our cultural identity. It’s not just luck that Colorado is well-known for innovation. We’ve created an environment where outside-the-box thinkers have what they need to grow.
Magnets
Innovation Hubs
Fitzsimons Innovation Community
Investment
Investing in Innovation
Investment allows innovation to flourish. In the past 10 years, the Small Business Administration has awarded $34 million to Aurora companies through its Small Business Innovation Research (SBIR) program. Many Aurora companies that capture a significant amount of funding do so because of their ties to activity anchored in our innovation hubs in the healthcare and bioscience industries.
2019-2020 SBIR Award companies in Aurora
Venture capital
Since 2015, Aurora companies raised $178 million in venture capital funding. More than 1/3 went to healthcare technology systems, pharmaceuticals, and biotechnology companies.
Venture capital
Growing Startup Ecosystem
Colorado’s startup ecosystem has steadily grown over time, transforming into a powerhouse for attracting venture capital. Venture capital activity grew 30% in the state in 2019 versus 2018, continuing the upward trend seen in the state over the past 10 years. 390 venture capital deals raised nearly $2.5 billion in 2019 for Colorado companies, ranking the state 7th for venture capital investment and 6th in per capita investment.
An environment to grow in
Leading indicators show that our community is the perfect place to start and grow a business.
.87
Patents per 1,000 workers
2015, MSA U.S. Patent Office
12.1%
New Establishment Growth
5-year CAGR, MSA Bureau of Labor Statistics
2,778
New Establishment Licenses
Aurora, 2019 City of Aurora
2
Unicorn Companies
MSA, 2019 Denver Business Journal, 2019
Proprietors
Entrepreneurs thrive here
Colorado has nearly four times the percentage of proprietors in total employment as the U.S. largely due to the nurturing environment for entrepreneurs starting new businesses.
The tech factor
