Inspiring Innovation, Investing in Success

1. Inspiring Innovation, Investing in Success

2. TVA Mission & Vision What is your accelerator’s mission? • Create and sustain the Telluride regional entrepreneurial ecosystem to support industry diversification, create high growth companies and well paying jobs. Why is your accelerator unique? • TVA is located in a rural, remote and isolated geography – 350 miles from a major university, metropolitan center or national lab, removed from major transportation corridors – and a population of 4,000. • TVA focuses on unique, non-traditional verticals (industry types)including outdoor recreation, tourism, natural products, health, energy, water, and education companies • TVA was created and is administered by the Telluride Foundation (a community foundation) with charitable dollars. All potential returns on equity will be reinvested in the Foundation’s charitable mission.

3. TVA Mission & Vision What specific elements make your accelerator model innovative/new? • TVA leverages and organizes the unique human capital and investment capital found in Telluride utilizing its population of second home owners and telecommuters, which are a world-class group of mentors and investors • TVA was started and is operated by a foundation as an impact investment activity • TVA utilizes best practices of top performing accelerators while focusing on non-traditional verticals; it is a full member of the Global Accelerator Network (GAN) • TVA helps to address Telluride’s isolation and challenges, including lack of infrastructure, economic diversity, available workforce, transportation and business development services (SBDC, incubators, loan funds, etc.)

4. TVA Impact What experiences prepare your founding team for this project? • Paul Major – President & CEO, Telluride Foundation; national leader in community foundations • Jesse Johnson – entrepreneur, philanthropist, investor • Thea Chase – incubator and accelerator director in Colorado and California, internationally recognized industry expert, entrepreneurship educator What gaps will your accelerator fill? • Geographic gap • Located in rural/resort community • Leverages existing strong mentor and angel/institutional investor network • Provides sustainable impact on entrepreneurial ecosystem in a rural/resort region • Non-traditional, under-represented vertical focus • Outdoor recreation, tourism, natural products, health, energy, water, and education

5. TVA Impact What are the specifics of your model and how will it accomplish the above? • Geographic gap • Provides focal point for highly successful mentors and investors to engage • Leverages network of 80+ highly engaged, volunteer mentors motivated by a connection to the foundation and love for region • Utilizes Entrepreneurs-in-Residence program, capitalizing on desirable location to attract top talent for extended stays • TVA has highly competitive admissions -- caliber of mentors and presence of investors attracts the best in targeted verticals nationally and internationally • Soft landing program (local assistance) encourages exemplary companies to stay in region • Success of Accelerator is helping to brand the region, attract high growth start-ups independent of TVA program, and create entrepreneur ecosystem

6. TVA Impact What are the specifics of your model and how will it accomplish the above? • Non-traditional vertical focus • 5 month duration accommodates longer start-up trajectory for targeted verticals • Regimented curriculum combines best of proven methodologies from lean launch to business planning and leadership development • Communication Catalyst (leadership and communications workshop) weekly programming led by TVA mentor and nationally renowned communication and sales expert focuses on growing founders into successful leaders • Telluride Venture Fund Finance Committee Chair and TVA mentor leads finance training, financial model development and “deal” review, and due diligence preparation process

7. TVA Results What metrics do you use and what have been your successes to date? • Capital invested in TVA companies • 2013, Four TVA companies have raised 2+million • Globa.li a 2013 winner secured its entire first round  600k from the Telluride community • TVA 2013 cohort exceeded Global Accelerator Network (GAN) benchmark - 30% of companies raising over 300k within first year - with 75% raising in excess of 300k • 2014, Six TVA companies raising 5+million • within 24hrs our 6 companies had commitments of over $1M   • One company fully subscribed with 2 others close – entirely from the Telluride community Colorado Governor Hickenlooper and 2013 companies

8. TVA Results What metrics do you use and what have been your successes to date? (Continued) • Jobs created by TVA companies • ~20 jobs created/retained 2013 • ~20 jobs created/retained 2014 • Attracting new businesses to region • Four new regional start-up companies formed around TVA • Voltaire, an on-demand service that helps lawyers pick winning juries by leveraging big data insights, chose to locate their start-up in Telluride, moving from Boulder; through its relationship with TVA, it is leveraging relationships with IBM and Dentons and launching its technology company in Telluride.

9. TVA Results What metrics do you use and what have been your successes to date? (continued) • Telluride recognized as a place for entrepreneurs • Telluride Demo Day  attendance was sold out, with over 80 qualified investors (50% increase over previous year) • Meg Whitman not only attended but spent private time with our companies and also expressed expressed interest in hiring Life Dojo (a 2014 company) for work at HP.  She said that Demo Day quality rivaled any she had seen in Silicon Valley • 1st ever Boulder Demo Day Roadshow held at the HUB 1 week post Demo Day with over 40 angel and VC investors attending • 1st ever San Francisco Demo Day Roadshow 2 weeks post Demo Day attracted 20+ Bay area angels, angel groups and VC’s • Andreessen Horwitz and Foundry Group offered partner meetings for all TVA companies • TVA is featured in the current issue of Inc. Magazine • 5280' is currently running a story calling Telluride "Colorado's next new startup hub".  http://www.5280.com/business/magazine/2014/06/next-big-things

10. TVA Results What metrics do you use and what have been your successes to date? (continued) • Development of stand-alone network supporting regional entrepreneurial ecosystem • Cohort companies engaging on-going professional services from providers in Telluride community – legal, accounting and design • 2014 winner – Awestruck Dental, a local company, was first to be fully funded and has hired local team • 2014 winner – LifeDojo is building its strategic sales team around 2 local TVA mentor/advisors • LifeDojoconsidered Telluride location for launch • Formal and informal networking and educational events being held outside of TVA directly – examples include the formation of the Telluride Venture Fund (a seed and early stage fund with initial capitalization of $2m) and Start-up Weekend

11. TVA Results What metrics do you use and what have been your successes to date? (continued) • Successful implementation of diversification strategy • 50% of companies in 2013; 33% in 2014 founded and run by women • 75% of companies in 2013; 33% in 2014 physical product companies (manufacturing) • Investors responding – both 2014 product companies will be first to secure 100% of seed round • Mentor engagement • # of Mentors was  30 in 2013, now  80 • # of Mentor hours grew exponentially from 2013 to 2014

12. TVA Metrics What are the 5 key metrics you will use to self-evaluate? • Amount invested in TVA companies • Average investment per company • TVA companies long-term growth/success • Create an engaged and trained mentor community • Impact on regional entrepreneurial ecosystem • Build vertical – industry cluster approach What does success look like? • High growth companies starting from TVA • High growth companies staying in Telluride region • Non-TVA high growth companies starting in Telluride • Adequate ROI for Foundation and investors to support sustainability