GOLDEN, Colo.—(BUSINESS WIRE)—March 18, 2008— The 8th Continent Project, the world's most comprehensive effort to integrate space technology and resources into the global economy, has received a $150,000 grant from the Colorado Economic Development Commission to start Colorado's first ever aerospace business incubator - helping the state maintain its national ranking as the second largest private aerospace employer.
The 8th Continent Project, an initiative of the Colorado School of
Mines, includes a chamber of commerce, funding network, research
center, and now the business incubator. The Project is organizing
"Space 2.0" - the emerging generation of entrepreneurial space-related
business ventures - and working to define the next frontier and solve
some of the world's biggest challenges, from global warming to
resource and energy development. The infusion of space resources into
the global economy will be the next big leap as we begin to bring
space down to Earth(TM).
"For the first time, government, industry and academia have joined
forces with entrepreneurs and venture capitalists to forge the next
frontier in commercializing space technology and resources," said
Colorado Governor Bill Ritter. "With our region's unique cluster of
businesses, IT infrastructure, research institutions and aerospace
workforce, the 8th Continent Project and Colorado's first aerospace
incubator will position Colorado at the vortex of 'Space 2.0.'"
The incubator, which will provide services but no office space,
will serve companies that are involved in space technology and
resource development for everything from activities in space to
immediate opportunities on Earth. The companies can include anything
that is typically associated with the space program. The 8th Continent
incubator expects to serve 14 to 15 start-ups per year. Burke Fort,
executive director of the 8th Continent Project, and John Metzger, CEO
of Metzger Associates, will serve as co-directors of the incubator.
"We are delighted that the Colorado Economic Development
Commission chose the 8th Continent project to fund the first-ever
aerospace incubator in Colorado," said Burke Fort, 8th Continent
Project executive director. "The 8th Continent business incubator will
serve the Space 2.0 entrepreneurial community by bringing
entrepreneurs together with expertise in venture capital, legal, risk
management, communications and management consulting. The incubator
companies also will receive membership in the 8th Continent Chamber of
Commerce and gain all the benefits that it offers."
Each dollar provided by the Commission is being matched by $2.5
dollars through cash and in-kind contributions from the 8th
Continent's founding partners, including the Colorado School of Mines,
Townsend and Townsend and Crew intellectual property law firm, and
Metzger Associates public relations and capital strategies firm. The
grant will be distributed over three years at $75,000 the first year,
$50,000 the second year and $25,000 for the third year.
"The incubator and the 8th Continent Project also will provide
more resources for the traditional large budget spacecraft and
exploration-based firms, Space 1.0, that have a strong presence in the
state," Fort added.
Find out how to apply or for more information, contact Burke Fort
at email@example.com or visit www.8cincubator.com.
About the Colorado Economic Development Commission
The Colorado Economic Development Commission (EDC) was created by
the legislature to promote economic development in Colorado. It
consists of nine members five of whom are appointed by the Governor,
two by the President of the Senate and two by the Speaker of the
House. The EDC approves loans and grants from the economic development
fund to public and private entities throughout the state to help
existing businesses expand and new companies locate to Colorado. It
also implements marketing programs to support ongoing business
activities. All policy and funding decisions are made by commission
About the 8th Continent Project
Based out of Golden, Colorado, the Colorado School of Mines' 8th
Continent Project is the world's most comprehensive effort to
integrate space technology and resources into the global economy. 8th
Continent provides the infrastructure and resources to solve a wide
range of challenges from global warming to renewable energy
development. Headquartered in Colorado, home of the most concentrated
entrepreneurial, investor and aerospace talent in the world, 8th
Continent brings space down to earth with the industry's first trade
association, incubator, funding network and research hub, all working
together to develop the next generation of space business ventures.
More information can be found at www.8cproject.com.