Five Reasons Why We Startup in Denver, Colorado

reasons why we startup in Denver, Colorado

Five Reasons Why We Startup in Denver, Colorado

We are often asked why we—a financial technology (“fintech”) company disrupting the finance industry using technology—chose to open our doors in Denver, Colorado, given that fintech and finance is typically associated with cities on the coasts, especially those near Silicon Valley and Silicon Alley. There are many reasons we live and work in Denver ranging from the 280 average days of sunshine and 150+ craft breweries to the fact that Denver was voted number one on Forbes list of best places for business in the U.S. in 2015We think our sunny, hops-drenched city is not only an amazing place in which to spend our time off the clock, but it’s also a smart place to start and grow a business with a great ecosystem for entrepreneurs. We put together a list of five things we love about this city and reasons why we choose to startup in Denver, Colorado.

1. Entrepreneurship is alive and well in Denver

Denver is no longer a pitstop for people flying from coast to coast. It has become an entrepreneurial hub attracting entrepreneurs from around the world. In a 2015 study conducted by NerdWallet, Denver was rated the number two city in a list of most entrepreneurial states based on venture capital funding, SBA loans, and online loans per 100,000 people. Colorado also ranked number four in the 2015 Kauffman Index for startup activity with a current startup density of 174.9 per 100,000 residents. Denver’s entrepreneurial climate is thriving, and we’ve put down roots in this community knowing that we can help those businesses reach their potential. We also take advantage of knowledge-sharing with our peers at monthly and annual startup events at Galvanize, during our amazing and top-rated Denver Startup Week, and through Built in Colorado, Women Who Startup, and General Assembly.

2. Colorado is a hub for technology

While Silicon Valley is known as the center for technological innovation, Colorado has been holding it’s own. With $2.7 billion grossed last year from 59 exits in Colorado—more than any year previous—and $401 million raised by 49 technology companies in the Denver Metro area alone, it’s obvious that this Rocky Mountain region is a technological contender. In 2013, Boulder had more startups per capita than any other U.S. city. We benefit immensely from the thought leadership that is all around us and plan to help put Denver on the map for fintech innovation. 

3. Our employee pool is growing

If you’ve tried to drive to the mountains on a weekend during the past few ski seasons, you know that the population of Colorado has exploded. Over 101,000 people moved to Denver in 2015 alone. Whoa! As a result, our city boasts one of the most highly educated workforces in the country ranking 16th in a study conducted by WalletHub that compared 150 U.S. metro areas. It’s a great community to source smart, creative employees. We more than doubled our size last year—we’re close to installing bunk desks—and are always on the lookout for new talent, and lucky for us, we’re in a city full of happy smartypants already and rarely have to look beyond the boundaries our town for top talent.

4. We value women entrepreneurship

As a company, we strive to achieve diversity in our workforce and leadership team. Our CEO was recently published in Forbes for a piece on the importance of a diverse team, and we’re proud to have achieved gender parity in both our leadership team and entire company. We are proud to do business in a community that shares our values. Colorado is home to women entrepreneurs who are actively disrupting industries ranging from financial technology to interior design. In a 2015 study conducted by NerdWallet, Denver ranked third for top cities for women to start a business based on a variety of factors like salary and the number of women-owned businesses per capita. Colorado was home to three of the top ten ranked cities. We think it’s in large part due to the fact that our community promotes resources that support women in entrepreneurship. For example, Women Who Startup—an organization dedicated to promoting women innovators—was born in Denver, Colorado. The National Center for Women in Information Technology (NCWIT)  is based in Boulder. There is a growing community that is committed to empowering women-owned businesses. What better place to grow our women-led company?

5. Denver is so much more than cowboys and craft beer (but it is those things too)

Some people might think that Coloradans are Broncos-loving, craft beer-drinking hippies who are born with Fitbits on our wrists and John Denver LPs playing on our record players. And they wouldn’t be completely wrong. The work-life balance found in Colorado is a huge draw for those of us who call this amazing state home. And honestly who doesn’t love craft beer? We spend our work week innovating over locally roasted coffee and our happy hours checking out one of the dozens of breweries in the metro area. There is a thriving local music scene, incredible art, and the Rocky Mountains are within easy driving distance. 

Those are just five of the many reasons why we call Denver home and opted to open our doors right here in Capitol Hill. We’d love to know—why do own and operate a business in Colorado? What brought you here or what’s kept you here? Please tell us  in the comments section below.

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