Innosphere’s Economic Impact 2015
Innosphere’s incubation program for startup companies creates long-term regional economic impact through efficient, personalized growth strategies for entrepreneurs in the digital health, bioscience, energy & advanced materials, and software & hardware industries.
Innosphere worked with 42 client companies last year. Of particular interest were 18 of these 42 companies that graduated from Innosphere’s incubation program because they met their graduation goals, which is the largest number in Innosphere history! For some, this was hitting a significant revenue target or raising enough capital to finance sustainable growth. For others, their goal was a strategic partnership with stable funding streams.
Economic Impact Metrics:
Innosphere is excited to announce that the 42 client companies of 2015 collectively achieved the following metrics:
- raised $31.8 million in grant, angel, venture capital, and strategic funding;
- supported the creation of 296 new jobs in Colorado;
- had an average salary of $52k for a full time employees;
- had gross revenues of $12.2 million; and
- raised a cumulative of over $87.9 million in capital to date.
Innosphere also worked with four CSU startup companies in 2015 who collectively have raised $13.1M total capital to date.
Additional 2015 successes for Innosphere included furthering the partnership with Colorado State University (CSU), supporting CSU’s NewCo Launchpad Initiative that turns CSU owned technologies into viable businesses.
This past year Alan Curtis was brought on as a program director and developed Innosphere’s Digital Health vertical. Innosphere supported nine digital health companies by creating personalized development plans, connecting them to health networks to conduct their pilots, and preparing them for investment.
Protecting Colorado Innovation
Innosphere also assisted a large number of client companies in protecting their intellectual property. While client companies have been in the incubation program this last year, 43 provisional patents have been filed, 30 national patents have been filed, and 17 patents have been issued.