The Colorado Office of Economic Development and International Trade (OEDIT) and nationally ranked startup accelerator gener8tor announced today the five companies selected for the Spring 2022 cohort of the gBETA Opportunity Zone Capital Accelerator program. The businesses selected represent a wide variety of industries and verticals in Colorado, including the Western Slope, and ranging from software and cleantech to B2B2C e-commerce and outdoor recreation.
gBETA, a program of gener8tor, is a free, seven-week accelerator that provides five companies with individualized coaching and mentorship to help startups gain early customer traction on products or ideas, and establish metrics that can make them competitive applicants for full-time, equity-based accelerators or seed investment.
Each cohort is kept small to ensure meaningful engagement with the program and participants receive intensive and individualized coaching along with access to gener8tor’s national network of mentors, customers, corporate partners and investors. The program also helps maximize investment in Colorado’s Opportunity Zones in partnership with OEDIT by helping propel and draw attention to some of the most promising startups in Colorado's under-invested areas.
“We know that Colorado's Opportunity Zones are brimming with innovative and socially impactful entrepreneurs, and this program helps show investors that there are ample Opportunity Zone investment opportunities beyond real estate,” said Jack Tiebout, Opportunity Zone Program Manager at OEDIT. “We are excited to have such a strong partner in gener8tor to implement their proven gBeta program, lend their expertise, and leverage their national network of mentors and investors.”
The Spring 2022 cohort is the second cohort of the gBETA Opportunity Zone Capital Accelerator program and kicked off on April 14, 2022 with the following five companies: The five companies selected for the gBETA Opportunity Zone Spring 2022 cohort are Cannaview, Enta, GrantVEST, New Day Hydrogen, and Oh My! Empanada.
In Colorado, the program is supported by the Colorado Office of Economic Development and International Trade. To learn more, connect with Vanessa Huerta, gBETA Opportunity Zone Capital Accelerator Director at firstname.lastname@example.org or visit the website.
COLORADO| SPRING 2022 COHORT
Cannaview is the Facetime of online shopping for cannabis products. Using Cannaview’s video chat, online shoppers can get detailed product guidance and education from the comfort and privacy of their homes, just like they would if they visited a dispensary. Dispensaries gain opportunities to build relationships with online shoppers while improving eCommerce KPIs like time spent on the website or average cart size. Within three months of launch, Cannaview acquired two beta customers and recently converted one Cannabis Brand into a paying customer.
Enta helps outdoor facilities, coaches, renters, clubs and communities to grow, and connects them to an app-based community of thrill-seekers. Enta’s pilot clients saved 57% of their time on average and grew revenue by 46% on average by automating ticketing, payments, waivers and memberships in one place, and effortlessly promoting events to users. Enta allows consumers to find, pay for and access outdoor experiences effortlessly in under five minutes, instead of the one to eight hours it traditionally takes. Since April 2021, Enta onboarded 12 mountain biking businesses, growing to 8,000 users and generating $132,000 in marketplace transaction volume.
GrantVEST provides organizations that support entrepreneurs with access to a one stop shop for grants and follow-on investments. Grantvest’s capital search engine helps organizations increase grant access and success rates for the startups they support, especially for Underestimated-led companies. GrantVEST defines Underestimated as women, BIPOC, LGBTQ+, veterans, and companies based in rural communities. GrantVEST has developed its beta and sourced over 3,200 grants representing $15.3B in grant capital.
New Day Hydrogen provides on-site rapid fueling for electric vehicles – without cumbersome batteries or lost time for charging. This approach unlocks the other electric vehicle option, fuel cell EVs, for customer fleets at the beginning of their zero-emissions journey. New Day Hydrogen has a scalable modular design well underway and a project pipeline that includes transit authorities, port operators, and fleet owners such as AAA/The Auto Club.
Oh My! Empanada produces high-quality gluten-free frozen Colombian empanadas. Oh My! Empanada addresses the need for more accessible and diverse food alternatives. Modern society craves new foods every day, and Oh My! Empanada’s authentic Colombian empanadas expand Latin flavors within Denver and beyond. Since its launch in December 2020, Oh My! Empanada has sold over 24,000 empanadas and generated over $40,0000 in revenue in a part-time capacity.