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During this such a brief criteria around ben colorado connecting colorados serial entrepreneurs with high growth companies.
BEN COLORADO
1
IMPACT REPORT
2015
BEN COLORADO:
Connecting Colorado’s
serial entrepreneurs with
high-growth companies
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4
9
12
20
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Welcome
Get to Know BEN Colorado
The Program
The Network
Early Results
Press Coverage
ENTREPRENEURSHIP IS AT THE HEART OF ECONOMIC DEVELOPMENT and
creates opportunities to build an increasingly inclusive and prosperous so-
ciety. The entrepreneurial companies that make the biggest contribution to
our economy and society are the gazelles—the successful startups that are
scaling to $100M of revenue and beyond. The most successful ones among
them are the unicorns, those who surpass $1B of revenue.
The Blackstone Entrepreneurs Network (BEN) focuses on Colorado’s ga-
zelles, and those scale-up Companies which are on the cusp of following
in their footsteps. BEN Colorado develops relationships with these Com-
panies, providing access to a talented network of advisors and mentors.
Importantly, we celebrate their successes and help them overcome their
obstacles. We strive to help the gazelles become unicorns and the aspiring
scale-ups to become gazelles.
I am honored to be BEN Colorado’s ?rst Steering Committee Chairperson,
as it provides me the opportunity to collaborate with the talented people
and companies associated with BEN Colorado and be part of creating fu-
ture generations of gazelles and unicorns.
DAN CARUSO
Founder and CEO, Zayo Group
Founding Executive, Level 3 Communications
Chair, BEN Colorado Steering Committee
BEN Colorado Network Companies
Denver
Boulder
Longmont
Broom?eld
WELCOME
2
T
he ?rst year for the Blackstone Entrepreneurs Network in Colorado has
been busy, rewarding, productive—and fun. As you’ll see in the following
report, we’ve networked hundreds of individuals and tens of fabulous Col-
orado gazelle and unicorn companies toward the dual goals of connecting our
great serially successful business leaders across silos and helping the Colorado
ecosystem develop more quickly toward scale-up success. In the process, we’ve
hosted almost 100 live events and met with hundreds of CEOs and individuals
across the state.
We’re often asked how it’s possible to put together such a powerful network in
such a short time. The answer is, of course, Colorado. We all bene?t from a uniquely
collaborative culture that is highly aligned around growing great businesses here.
That alignment crosses government, enterprise, and academia. As our friends at
Blackstone report, this spirit of collaboration is exceedingly rare in business com-
munities across America.
There are innumerable folks giving immeasurable amounts of time to connect
across the Network and assist in every way possible the companies that are in-
volved, but I’d like to particularly acknowledge the Steering Committee and the
inaugural Chair, Dan Caruso, Founder, CEO, and Chairman of The Zayo Group.
Zayo went public last year, eight years after its inception in Colorado, and is now
one of the 20 most valued public companies in the state, with a market capitaliza-
tion near $10 billion. Dan has increasingly focused his and the company’s time on
building out the Colorado business ecosystem. That combination of success and
sel?essness personi?es BEN Colorado at its best.
We are fortunate to have so many Network members who are willing to “give be-
fore they get” to support our next generation of scale-up successes. Our inaugural
Blackstone Entrepreneurs, George Heinrichs, Mark Hopkins and Tom Moore have
spent countless hours working with our network companies. We welcomed Mark
Retzlof, an icon in the natural foods world, as our fourth Blackstone Entrepreneur
this year. These four, like so many of our Network Advisors, understand the need
for honest feedback, peer-to-peer collaboration, and rapid connection-building
between Companies and Advisors and their networks. The trusted opinions and
guidance they provide are core values in our community.
I’d also like to speci?cally acknowledge Senator Michael Bennet, whose initial ef-
forts with Blackstone led to their support for BEN in Colorado through the Univer-
sity of Colorado. And that of course means a big shout out to Monisha Merchant,
formerly the Senator’s Business Liaison, whose tireless work is the true reason the
initiative was able to launch, as the Senator candidly explains.
I hope you enjoy the stories and vignettes included. While the project is still in its
Alpha phase, and we’ll continue to add more and more value, I’m proud of the
great work the staf has done creating a context for a powerful Network whose
mission is building Colorado faster. I invite you to consider how you can get more
involved.
JB Holston
Founding Executive Director
Blackstone Entrepreneurs
Network
This spirit of
collaboration
is exceedingly
rare in business
communities
across America.
WELCOME
3
T
he Blackstone Entrepreneurs Network represents a milestone for the con-
tinued development of a robust entrepreneurial ecosystem here in Colora-
do. With BEN Colorado’s ?rst year under our belt, it is an opportune time to
re?ect on its impact and the state of the overall entrepreneurial ecosystem.
The BEN Colorado experience con?rms for me how Coloradans are willing to give
?rst, support one another, and take the long view about how each of our success-
es redound to help one another. As Brad Feld often remarks, the building of great
entrepreneurial communities is a decades-long journey. Over the course of this
journey, Colorado is building momentum by eschewing a “what’s in it for me” or
“you win, therefore I lose” culture. Rather, we ask, “how can I help you?” and “how
can we celebrate your success?” BEN Colorado is a powerful example of how this
works.
For the Silicon Flatirons Center and the University of Colorado, we are privileged
to host BEN Colorado and bene?t from our connections with such a world-class
entrepreneurial community. Over the past decade Silicon Flatirons has worked to
engage with and contribute to Colorado’s remarkable entrepreneurial ecosystem.
During that time, we have worked with others to build up programs on campus,
including the New Venture Challenge and an Entrepreneurs in Residence program
that is available to entrepreneurs around the world as a way to mentor students
and build their companies in Boulder.
We have also developed programs like our Crash Courses, Entrepreneurs Un-
plugged, and thought-provoking conferences and roundtables that engage both
the campus and the community. And we have reached out to the entrepreneurial
community to build programs like Startup Colorado, bringing together entrepre-
neurial leaders across the Front Range. In all of these eforts, Brad Bernthal’s lead-
ership as the head of the Silicon Flatirons’ Entrepreneurship Initiative has been
spectacular.
The launch of BEN Colorado would not have been possible without the generous
support of the Blackstone Charitable Foundation. We are very grateful that the
Foundation recognized the entrepreneurial community here in Colorado and se-
lected the Silicon Flatirons Center as the recipient of this grant.
The opportunity to bring BEN to Colorado required that we tap a range of leaders
in the Colorado entrepreneurial community to ask for their leadership in the am-
bitious undertaking of developing a network of seasoned entrepreneurs willing to
give back and mentor today’s emerging gazelles. We were fortunate to recruit JB
Holston to take on the role of Executive Director because he understood the vision
and had the relationships to create the Network. This report details the remarkable
success of the Network over the ?rst year. In detailing what BEN Colorado has
accomplished and is setting out to do, moreover, this report underscores what a
special place Colorado is.
Coloradans are
willing to take
the long view
about how
each of our
successes
redound to help
one another.
Phil Weiser
Executive Director and
Founder
Silicon Flatirons Center at
the University of Colorado
GET TO KNOW BEN COLORADO
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We love Colorado. And we love Colorado
companies. The work of the Blackstone
Entrepreneurs Network centers around helping
companies thrive—right here in this state. To
do this, BEN Colorado carefully matches and
curates relationships between a network of
highly successful serial entrepreneurs with a
select number of high-growth companies likely to
become the state’s next “tent-pole” companies.
Through this thoughtful business match-making,
in numerous forms of implementation, BEN
Colorado makes a diference.
GAZELLE a rapid-growth company with clear po-
tential to quickly scale to very large economic pro-
?les and outcomes. High-growth prospects rather
than actual size characterize this company.
UNICORN a high-growth company similar to a ga-
zelle, but with at least a $1 billion valuation. Rain-
bows optional.
SCALE-UP a term that describes the next phase
for a company that has cleared the initial startup
stage and is growing and progressing in terms of
employees, sales, pro?tability, or other markers.
NETWORK an organic convergence of difering
individuals united by desires to promote success-
es beyond their own. The sum is greater than the
parts in this anti-hierarchy that supports diversity
along with exchanges of ideas and experiences.
The Entrepreneur’s Dictionary
To connect Colorado’s great serial entrepre-
neurs and scale-up experts with one another to
collaborate to identify, promote, assist, and con-
nect Colorado’s “gazelles” and “unicorns”–the
state’s best high-growth, high-prospect private
?rms in the technology, health, aerospace, en-
ergy, and natural foods and products industries.
BEN Colorado has brought to-
gether a powerful group of Col-
orado’s most successful entre-
preneurs from across our state
to support and promote the
scale-up ecosystem. The on-
going investment in our com-
munity will continue to make
Colorado the ideal home for
startups and scale-ups alike.
GOVERNOR JOHN HICKENLOOPER
Our Mission
Who We Are
Get to Know BEN Colorado
GET TO KNOW BEN COLORADO
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Blackstone Charitable Foundation announces the launch of
the Blackstone Entrepreneurs Network in Colorado with a
$3 million three-year commitment. Silicon Flatirons selected
to be the steward of the grant.
JB Holston brought on as Founding Executive Director.
Network kick-of event featuring relevant business and
government leaders. Formal announcement of the
Network’s mission by Governor John Hickenlooper and
Senator Michael Bennet.
Steering Committee formed.
The program launches in both Denver
and Boulder as BEN Colorado staf
begin working with local scale-up
companies. More than 100 Industry
and Growth Advisors get on board.
7/2014
Farm-to-Table Dinner held
to announce key goals for
future growth and success.
More than 150 Advisors and
20 Companies are actively
engaged with the Network.
9/2014
Founding class of
Blackstone Entrepreneurs
selected to help Network
Companies scale.
11/2014
Kicked of new year with 30+
Network Companies, 200 Advisors,
and 4 full-time staf members.
1/2015
Launched the Colorado
Cybersecurity Consortium, a
group of ?rms and professionals
working to advance the growth of
Colorado’s cybersecurity ecosystem
through collaboration and community
discussion.
2/2015
4/2014
5/2015
Celebrating one year since
conception, the Network continues to
grow and work to support Colorado’s
scale-up ecosystem.
Our Growth
GET TO KNOW BEN COLORADO
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B
lackstone, based in New York, is one of the
world’s leading investment ?rms, with over
$300 billion total assets under management.
The Blackstone Charitable Foundation was founded
at the time of Blackstone’s IPO in 2007 with substan-
tial commitments from the ?rm’s employees.
In?uenced by the enterprising heritage of the ?rm
and its founders, The Blackstone Charitable Founda-
tion directs its resources and applies the intellectual
capital of the ?rm to foster entrepreneurship in areas
globally. Through its investment expertise across
several asset classes and geographies, Blackstone
has a unique perspective on the global economy and
a heightened understanding of how entrepreneurial
activity is often the crucial catalyst in the growth of
successful businesses, industries, and communities.
The Blackstone Charitable Foundation, through cre-
ation of the Blackstone Entrepreneurs Network, aims
to unlock the tremendous economic potential of vari-
ous regions in the US by identifying and networking a
region’s serial, successful entrepreneurs and linking
them to the region’s next high-growth companies.
Blackstone Charitable Foundation funds BEN in Col-
orado through a $3 million three-year grant.
Through programs like the Blackstone
Entrepreneurs Network, we are serving
as a catalytic funder to strengthen en-
trepreneurial ecosystems in targeted
regions globally. In Colorado, our pro-
gram has had tremendous success over
its ?rst year engaging the top business
leaders and entrepreneurs and identify-
ing and supporting the next high-growth
companies in the state, helping these
companies stay and grow in the region.
AMY STURSBERG
Executive Director, Blackstone Charitable Foundation
Blackstone Charitable Foundation
In recent years, Colorado has become a hub for
startup companies and innovation, and last year
more than 100,000 entrepreneurs started a new
venture here. There is enormous potential in ex-
panding our existing businesses, and BEN Colo-
rado is playing a key role supporting this growth
and encouraging entrepreneurship. Building a
strong network for our thriving business com-
munity is essential to attracting future business
leaders and investment and to ensuring Colora-
do remains competitive in the global economy.
We look forward to watching the successes as
economic prosperity grows throughout the state.
SENATOR MICHAEL BENNET
GET TO KNOW BEN COLORADO
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T
he Silicon Flatirons Center for Law, Technolo-
gy, and Entrepreneurship is an interdisciplinary
research center at the University of Colorado.
Silicon Flatirons’ core mission is to elevate the debate
surrounding technology policy issues; support and
enable entrepreneurship in the technology communi-
ty; and inspire, prepare, and place students in these
important areas.
With academic rigor, and in support of the active
entrepreneurial ecosystem in Colorado, Silicon Flat-
irons’ Entrepreneurship Initiative promotes interaction
between the broad entrepreneurial community and
students, faculty, and staf at CU-Boulder. Silicon Flat-
irons was selected as the steward of the BEN Colora-
do grant from The Blackstone Charitable Foundation
due to its 15-year legacy and noteworthy support of
entrepreneurs in Colorado.
In addition to hosting BEN Colorado, Silicon Flatirons
hosts Startup Colorado, an Entrepreneurs in Resi-
dence program, CU New Venture Challenge, and
numerous events geared toward promoting and sup-
porting entrepreneurship.
Startup Colorado focuses on multiplying connections
among entrepreneurs and mentors, improving access to
entrepreneurial education, and building a more vibrant en-
trepreneurial community. Its pivotal program is Startup Sum-
mer, which combines summer internship, education on the
fundamentals of creating and running a successful startup,
and a team competition. The internship part of the program
provides an opportunity for students to gain exposure to the
dynamics a young business faces while providing a real val-
ue to the participating startup companies.
The newly launched Entrepreneurs In Residence pilot
program will bring mentorship to students and allow entre-
preneurs domestically and globally to be part of Colorado’s
vibrant startup community. This program will reinforce the
state’s reputation as a haven for entrepreneurs and spread
this entrepreneurs-welcome message around the world
while strengthening the local ecosystem.
CU-Boulder’s New Venture Challenge is the go-to on-cam-
pus entrepreneurial competition. The program allows stu-
dents, staf, and faculty the ability to test out their new ideas
while competing for thousands of dollars in prizes. Past win-
ners have leveraged the program’s resources to take the
next step in their entrepreneurial journey, including accep-
tance into prestigious programs such as the NSF Innovation
Corps and TechStars.
The popular Crash Course Series and Entrepreneurs Un-
plugged events deliver exceptional programming focused
on nearly all aspects of entrepreneurism—from the funda-
mentals of intellectual property law to obtaining venture
capital to the softer side of managing culture while scaling
up. The forthright and intimate conversations with local en-
trepreneurs are favorites among attendees.
Through these various initiatives, Silicon Flatirons pro-
motes and supports entrepreneurs through all stages,
from students with ideas to founders of early-stage
startups to serial entrepreneurs. By powering BEN
Colorado, Silicon Flatirons champions gazelles and
unicorns as they scale up and bolster the Colorado
entrepreneurial ecosystem.
A Center for Law,
Technology, and
Entrepreneurship
at the University
of Colorado
Silicon
Flatirons
Silicon Flatirons Center
Our Entrepreneurship Initiative builds from a belief that CU-Boulder should be close-
ly wired with the world-class startup scene in Boulder and Colorado’s Front Range.
We mix campus-centric activities with community high-impact oferings. This creates
a virtuous circle in which campus and community are mutually supported and en-
riched.
BRAD BERNTHAL
Entrepreneurship Initiative Director, Silicon Flatirons Center
BEN COLORADO
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As an Advisor and Steering Committee Member
with BEN Colorado, I’ve had the opportunity to en-
gage and interact with many entrepreneurs, in oth-
er industries around Colorado, that I would haven’t
otherwise connected with. These entrepreneurs
are running great businesses that are scaling up
dramatically, and the ability to learn from them and
help them based on the experience I’ve had in the
tech industry has been very rewarding.
BRAD FELD
Co-Founder and Managing Director, Foundry Group and Techstars;
BEN Colorado Steering Committee Member, Advisor
THE PROGRAM
9
BEN Colorado staf identify potential high-growth startup companies within the region to
become Network Companies. In BEN Colorado’s ?rst year this amounted to researching
more than 500 companies, from which 44 were selected to participate. These companies,
which are notably past the startup stage, are classi?ed as to watch, prospective gazelle,
gazelle, or unicorn as they join the Network. The level of support and assistance given
to a company increases with its growth, with the goal of helping it achieve gazelle or
unicorn status and success in Colorado.
Support at Every Stage
Involvement with BEN Colorado has truly been a one-of-a-kind
mentoring experience as I have been exposed to companies
and peers outside of my natural food expertise. This cross-in-
dustry interaction has been rewarding to me personally as I
have been able to experience the wisdom of other executives.
Additionally, watching fast growing companies share their sto-
ries has been inspirational. I believe the entrepreneurial com-
munity in Colorado has been raised to a new level through the
focus of BEN Colorado. I am thrilled to be a part of the network!
JANE MILLER
Founder and CEO, JaneKnows;
Former CEO and President, Rudi’s Organic Bakery
Startup
To Watch
Prospective
Gazelle
Gazelle
Unicorn
BEN COLORADO
The Program
THE PROGRAM
10
Colorado is known for its entrepreneurial and innovative spirit. There are myriad examples of
successful companies starting—and thriving—in the Centennial state. What there has been a
shortage of is a network of resources and support for companies who’ve risen above the traditional
startup stage and are ready and able to scale-up. That’s where BEN Colorado comes in. BEN
Colorado provides unmatched connections and access to Network Companies.
Why It Works
The Heart of BEN Colorado
How It Works
Joining the Network
One-on-one
Company meeting
with BEN Colorado
Due diligence
review of Company
At Company Session,
intro of executive team
to Network
Scale-up –
goal identi?cation
Connections to
customers,
partners, talent
resources, capital, etc.
1 2 3 4 5
Be it across industries, within a small market segment or between two Colorado cities–participation
in the Network is strengthened with relationships that matter. BEN Colorado provides opportunities
for the entire executive team of companies to meet, connect, and engage through peer-to-peer
networking and mentoring groups, industry summits, networking happy hours, and unique events
like Company Sessions and the Master Class Series. This is where the magic happens.
COMPANY SESSIONS – New Network Companies promote their company in a presentation to a
select group of Network Advisors in a rare chance to speak to the region’s top in?uencers of
entrepreneurship and get their feedback. In turn, the Advisors learn about high-growth companies
(often before the rest of the world knows about them) and have the opportunity to connect with
other Advisors.
MASTER CLASS SERIES – Featuring leaders from around the state and nation, these sessions
are behind-the-scenes glimpses into the real-world challenges and opportunities faced by
entrepreneurs. Their compelling stories are both inspirational and educational.
MORE SHARING – Every person and every company has a story to tell. BEN Colorado helps get
these powerful stories out into the community. Promoting Network Companies is an essential and
meaningful facet of BEN Colorado.
Network Advisors and Companies alike comment on the high quality of BEN Colorado events. In
the fast-paced world of entrepreneurship, these busy CEOs and Advisors prioritize BEN Colorado,
with a nearly 90% participation rate.
THE PROGRAM
11
Colorado’s innovative spirit coupled with its extensive infrastructure and central
geographic location allow the state to be a hub for easily deliverable goods and services
across the nation and around the world. BEN Colorado promotes and supports high-
growth companies in Colorado’s most important industry sectors. In its ?rst year, BEN
Colorado focused on companies within the aerospace, energy, health, natural products,
and technology industries. As the Network grows and evolves, so too will the industries
involved.
Designated Industry Sectors
Network Company Industries
4 1111S
Technology
22 companies, 48%
Health
7 companies, 17%
Natural Products
5 companies, 12%
Energy
5 companies, 12%
Aerospace
5 companies, 10%
TECHNOLOGY
HEALTH
NATURAL
PRODUCTS
ENERGY
AEROSPACE
COLORADO IS THE PLACE FOR DREAMERS AND RISK-TAKERS.
BEN Colorado has raised the pro?le of interesting com-
panies across industries, making the business community
and our political leaders aware of the exciting technolo-
gies being created in our backyard.
MONISHA MERCHANT
Founder, Lotus Advisory;
BEN Colorado Advisor
THE NETWORK
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The Network
BEN Colorado is a community, or Network of Advisors and Companies, designed to provide
resources and support to Colorado’s high-growth companies. To accomplish this, BEN
Colorado:
IDENTIFIES HIGHLY SUCCESSFUL SERIAL ENTREPRENEURS from diverse backgrounds to be
Blackstone Entrepreneurs, Industry Advisors, or Growth Advisors
IDENTIFIES AND EVALUATES POTENTIAL HIGH-GROWTH STARTUP COMPANIES within the region
as to watch, prospective gazelle, gazelle, or unicorn
SUPPORTS COMPANIES THAT MEET BEN COLORADO CRITERIA by providing access to the
Network to scale up and accelerate as Colorado-based companies
Part of Our Story
The Numbers
The Real Story
The People Involved and Their Connections
In 9 months:
4000
Introductions and meetings
500
Companies researched
5
Colorado industries
200
Companies interviewed
200
Industry and Growth Advisors
44
Companies in Network
BEN Colorado has exposed me to a diferent cross-section of Colorado’s thriving
entrepreneurial community in a way that is energizing and productive for me while
providing key connections and perspective in support of our next generation of
gazelles. I have reconnected with people I had lost track of, met new ones that I
can’t believe I didn’t know, and been introduced to investment opportunities that I
wouldn’t have seen otherwise.
MARK HOPKINS
Managing Partner, Crescendo Capital Partners;
Founder and Former CEO, Peak Industries;
Blackstone Entrepreneur 2015
THE NETWORK
13
These established Colorado business leaders are dedicated to the growth of BEN Colorado. They
determine BEN Colorado’s long-term strategy and provide guidance on the initiatives that promote and
support Network Companies.
DAN CARUSO [2015 CHAIR]
Founder and CEO, Zayo Group;
Founding Executive, Level 3 Communications
Having a career rich in technology business endeavors, Dan founded Zayo Group, helped
found Envysion as an angel investor, was a founding executive of Level 3 Communications
and a former President and CEO of ICG Communications. Zayo Group Holdings is now a
public, $5 billion company, after its successful IPO in October 2014.
JIM BURKE
President and Board Member, NGL Energy Partners LP;
Co-Founder and Former President and CEO, High Sierra Energy, LP;
Co-Founder, Petro Source Partners
Jim co-founded High Sierra Energy, which he grew to over $3 billion in revenue over eight
years before successfully merging with NGL Energy Partners in 2012. NGL is engaged in
the marketing, transportation, and logistics of crude oil and natural gas liquids. NGL cur-
rently has 3,200 employees, a market capitalization of $3 billion, and revenues in excess
of $16 billion.
Steering Committee
BRAD BERNTHAL
Associate Professor, University of Colorado Law School;
Founding Director, Entrepreneurship Initiative, Silicon Flatirons Center
Brad leads Colorado Law’s Entrepreneurial Law Clinic, which provides legal help to local
startups, and he teaches doctrinal courses in the areas of venture capital, entrepreneur-
ship, and innovation policy as well as courses in CU-Boulder’s Interdisciplinary Telecommu-
nications Program. He is a TechStars mentor and analyzes angel investment opportunities.
LIBBY COOK
Founder, President, and Co-Director,
Philanthropiece Foundation
Libby Cook has 25 years’ experience in the natural foods grocery industry, having
co-founded, led, and served as General Counsel for both Wild Oats Markets and Sun?ower
Markets, and brings her entrepreneurial background, expertise, and vision to the work of
the Philanthropiece Foundation. Philanthropiece is a nonpro?t dedicated to building deep
and authentic relationships that empower change-makers around the world to co-create
resilient communities.
THE NETWORK
14
PETE HUDSON
Founder and Former CEO,
iTriage
A physician and entrepreneur with more than 20 years of experience founding and grow-
ing healthcare-related businesses, Pete co-founded iTriage, which was acquired by Aetna
in what is considered the ?rst signi?cant exit in the mobile health space.
NANCY PHILLIPS
Co-Founder and CEO,
ViaWest
President and CEO of ViaWest, Nancy has led the growth of the company to 1,500 cus-
tomers and 28 data centers in seven markets since co-founding the organization in 1999.
Nancy began her career in telecommunications with Teleconferencing Systems of Canada.
Since then, she has been a partner in numerous startups and acquisitions and actively
promotes women and diversity in the technology community.
PHIL WEISER
Dean, University of Colorado Law School;
Founder and Executive Director, Silicon Flatirons
Fifteen years ago Phil founded Silicon Flatirons as a center for law, technology and entre-
preneurship. It has grown into a top destination for entrepreneurs and academia to engage
and participate in intellectually honest programs. Under Phil’s leadership, Colorado Law is
recognized nationally for law school innovation.
Steering Committee
JB HOLSTON
Founding Executive Director, BEN Colorado
With 25 years of successes as a global scale-up CEO and entrepreneur, JB served as
the Founding Executive Director of BEN Colorado, overseeing the program’s launch.
His experience includes serving as the founding CEO for NewsGator (now Sitrion) and
President of Zif Davis International, during which time he helped launch Yahoo!Europe.
BRAD FELD
Co-Founder and Managing Director,
Foundry Group and Techstars
An early stage investor and entrepreneur for several decades, Brad has co-founded
Foundry Group, Techstars, Mobius Venture Capital, and Intensity Ventures. He speaks and
writes extensively on the topics of venture capital investing and entrepreneurship and
actively serves on the boards of the National Center for Women & Information Technology,
Startup Colorado, and UP Global.
AARON KENNEDY
Founder, Former Chairman and CEO, Noodles & Company;
Former Chief Marketing Ofcer, State of Colorado
Prior to launching Noodles & Company, and growing it to 170 restaurants in 15 states be-
fore handing over the reins, Aaron directed brand design projects for brands including
Coca-Cola, Swiss Army Products, the PGA Tour, Pepsi Cola Company, and Kraft/General
Foods, where he helped develop and launch Lunchables, now a $1 billion brand.
THE NETWORK
15
GEORGE HEINRICHS
Co-Founder and Former CEO,
Intrado, Inc.
George co-founded Intrado, a global provider of pub-
lic safety communications services and served as the
company’s CEO until his recent retirement. Intrado
led the emergency services industry in retooling the
national infrastructure to accommodate the rapidly
evolving telecommunications world. The company was
“boot-strapped” in the beginning, later raising venture
funding, becoming one of Colorado’s largest software
companies, going public on the NASDAQ National
Markets, and ?nally being acquired by a larger public
company for approximately $500 million. A recognized
expert in emergency services, George has played a
key role in the evolution of our nation’s emergency
communications networks for the past thirty-?ve years.
MARK RETZLOFF
Co-Founder and Board Member, Aurora Organic Dairy;
Co-Founder and Chairman, Alfalfa’s;
Co-Founder of Horizon Organic Dairy
Mark is a pioneer in the organic and natural foods
industry with a 45-year career starting and manag-
ing successful and industry-leading companies. He
co-founded Alfalfa’s, a Boulder-based natural grocer
that merged with Wild Oats Markets, eventually being
acquired by Whole Foods. Other endeavors include
co-founding Horizon Organic Dairy and selling it to
Dean Foods, co-founding Aurora Organic Dairy and
serving as Chairman of Rudi’s Organic Bakery where
he helped execute a successful turn-around. During
Mark’s term as chairman of the Organic Food Alliance,
the organization was instrumental in passing the 1990
Organic Food Production Act. Mark was also co-found-
er of Naturally Boulder and is senior advisor for the
Boulder Farm Team consulting group.
THOMAS E. MOORE
Principal, TimesArrow Capital, LLC;
Senior Vice President, ViaSat, Inc.
A technologist at heart and by training, Tom has been
at the forefront in the development of video, voice, and
data broadband technology for the satellite, wireless,
and cable television industries. During the 1990s, Tom
was instrumental in the creation of patented technolo-
gy supporting what is known as a DOCSIS™ cable mo-
dem, which was a global ITU standard with over 100
billion devices deployed worldwide. He founded Wild-
Blue Communications, which became the second larg-
est satellite-based broadband service provider in the
world. He raised hundreds of millions of dollars for the
company then subsequently sold it to ViaSat in 2009.
TimesArrow Capital is a private investment ?rm based
in Denver.
BEN Colorado has provided me with an incredible opportunity to meet and interact with
entrepreneurs and business leaders from a breadth of industries outside my area of
expertise that I would never have had without the program.
THOMAS E. MOORE
Principal, TimesArrow Capital, LLC;
Senior Vice President, ViaSat, Inc.;
Blackstone Entrepreneur 2015
Blackstone Entrepreneurs
MARK HOPKINS
Co-Founder and Managing Partner,
Crescendo Capital Partners;
Founder and Former CEO, Peak Industries
After 15 years in engineering and executive positions
with Hewlett Packard and Emerson Electric, Mark
founded Peak Industries. Peak became one of the
leading contract manufacturers of complex medical
systems for companies like Medtronic and Cardinal
Healthcare. Mark grew Peak from a startup in 1996 to
a full service medical device manufacturer producing
dozens of products and generating sales of $75 mil-
lion. Peak Industries was acquired by Delphi Medical
Systems as the cornerstone acquisition supporting Del-
phi’s entry into the medical device arena. Crescendo
Capital Partners is a lower middle market private equi-
ty ?rm based in Denver. Mark is also the author of the
book “Shortcut to Prosperity.”
THE NETWORK
16
Network Companies
Gazelles
®
Accuvant recently merged with FishNet Security to
create the nation’s premier cyber security solutions
provider. The company, which will begin conduct-
ing business as Optiv Security in summer 2015,
delivers a complete set of services, products, and
solutions to help enterprises combat the growing
cyber threat. Optiv will be headquartered in Den-
ver. BEN Colorado connected several peers and
community resources with CEO Dan Burns during
the merger process.
Founder
Industry
Founded
BEN Colorado
Dan Burns
Technology
2002
Gazelle
Accuvant
Graduate
Artifact Uprising makes elegant, high-end photography prod-
ucts for custom order. Founded by two ?rst-time entrepre-
neurs and passionate photographers, the company was re-
cently sold to VSCO in Oakland. Throughout the time leading
up to the sale, the Founders were actively meeting with BEN
Colorado Advisors who provided guidance as the Founders
chose the path that would be best based on their interests
and needs.
Founders
Industry
Founded
BEN Colorado
Jenna Walker, Katie Thurmes
Technology
2012
Graduate
BCT is a Boulder-based aerospace ?rm that con-
tinues to see rapid growth in the demand for its
nano-satellite product line. BCT produces star
trackers, reaction wheels, and other spacecraft
components and designs. Three aerospace engi-
neers founded the company and BEN Colorado has
helped them to work through business analysis and
decision-making. As this leadership team continues
to face incredible growth, BEN Colorado Advisors
have made connections with ?nancial advisors and
advised on several important business decisions.
Founders
Industry
Founded
BEN Colorado
Matt Beckner, George Staford
Aerospace
2008
Prospective Gazelle
E
S
Cool Planet uses innovative technology to turn
agricultural residues into gasoline, jet, diesel, and
CoolTerra
TM
biocarbon, which address three of the
world’s largest markets: energy, food, and water.
Cool Planet’s CoolTerra
TM
soil amendment increas-
es the yield of crops and uses less water and fer-
tilizer, providing a solution to the drought-stricken
California agriculture, turf, and horticulture indus-
tries. The nature of the business for Cool Planet is
international and in several diferent markets, and
BEN Colorado continues to work with the executive
team to help them grow the company’s presence
in Colorado. Veteran CEO Howard Janzen has
connected with other CEOs within the Network for
peer-to-peer conversations about challenges other
companies are facing and as a way to make unique
Colorado connections.
Cool Planet
CEO
Industry
Founded
BEN Colorado
Howard Janzen
Energy
2009
Gazelle
Blue Canyon Technologies
THE NETWORK
17
Network Companies
Prospective Gazelles
Craftsy is a leader in online education and the
premier destination for inspiration, learning, and
supplies for passionate enthusiast makers. The
company has experienced phenomenal success
in its lifetime, with over 8 million registered mem-
bers, 4.2 million course enrollments and almost
1,000 course oferings. The Network has helped
the founders and executive team at Craftsy, who
are veteran entrepreneurs, by making introduc-
tions to relevant individuals and companies as well
as curating conversations to help sustain business
growth at a very high pace.
Founders
Industry
Founded
BEN Colorado
John Levisay, Josh Scott,
Todd Tobin, Bret Hanna
Technology
2010
Gazelle
Craftsy
With a focus on empowering people to eat good
food, Door to Door Organics delivers top-quality
organic produce and natural, local groceries to
customers’ doors in 13 states. The Louisville-based
company closed a $25.5 million Series B ?nancing
round in late 2014. After closing this capital raise,
the Door to Door Organics executive team en-
gaged with BEN Colorado for support as they grow
the team in Colorado. Speci?cally, BEN Colorado
has worked to advertise new positions and ?nd the
right ?ts for their team.
President and CEO
Industry
Founded
BEN Colorado
Chad Arnold
Natural Products
1997 in Pennsylvania,
2005 relocated to Colorado
Prospective Gazelle
Door to Door Organics
THE NETWORK
18
Network Companies
NanoSphere Health Sciences
Advanced Bio Technology
n
™
The natural foods company is based in Denver
and makes delicious and nutritious foods while ed-
ucating kids, parents, and teachers about the im-
portance of eating healthy. The Founders are two
?rst-time entrepreneurs who launched Love Grown
Foods in Aspen following graduation from the Uni-
versity of Denver. Love Grown Foods has doubled
revenue year over year through expanding product
lines and distribution throughout the nation. The
Founders have connected with several BEN Col-
orado Advisors to work through and discuss chal-
lenges involved with scaling a company.
Founders
Industry
Founded
BEN Colorado
Alex & Maddy Hasulak
Natural Products
2008
Prospective Gazelle
Love Grown Foods
Founded by pharmacist and veteran health care ex-
ecutive Frank Segrave, Silvergate Pharmaceuticals
is an emerging leader in pediatric medications. The
company currently manufactures Epaned®, which
is FDA approved for treatment of hypertension,
symptomatic heart failure, and asymptomatic left
ventricular dysfunction in children. The company is
working to launch several more products in 2016.
While Silvergate Pharmaceuticals executives are
highly experienced in the pharmaceutical industry,
BEN Colorado has been helpful in making introduc-
tions to leaders in the Colorado health and pharma-
ceutical industry.
Silvergate Pharmaceuticals
Founder
Industry
Founded
BEN Colorado
Frank Segrave
Health
2010
Gazelle
Companies To Watch
THE NETWORK
19
FOUNDING EXECUTIVE DIRECTOR
JB Holston
DIRECTOR OF OPERATIONS
Hannah Loudin
DIRECTORS OF BUSINESS RELATIONS
Dave DiGiacomo
Kate Waller
2015 BLACKSTONE FELLOWS
Jef Hopfenbeck
Jake Lozow
Many great organizations, academic institu-
tions, civic organizations, and more were inte-
gral to the formation and progress of the Net-
work. This list is always expanding.
B Lab Colorado
Boulder Chamber
Boulder Economic Council
Colorado BioScience Association
Colorado Cleantech Industries Association
Colorado College
Colorado Ofce of Economic Development
and International Trade
Colorado State University
Colorado Technology Association
Denver Metro Chamber of Commerce
Denver Ofce of Economic Development
Epicentral Coworking
Galvanize
Innosphere
Metro Denver Economic Development Corporation
Naturally Boulder
Ofce of Governor Hickenlooper
Ofce of Senator Bennet
Society of Physician Entrepreneurs
University of Colorado Boulder
University of Colorado Colorado Springs
University of Denver
Leadership Team
Partner Council
Network Advisors
Advisors are critical to the Network. Industry
Advisors are many of Colorado’s leading busi-
ness entrepreneurs, representing all of BEN
Colorado’s initial industry segments and ge-
ographies. These individuals are committed to
helping to identify and ?lter Companies joining
the Network and assess the speci?c assistance
that each of these Companies can utilize, while
opening their networks to the Network to help
grow the entrepreneurial ecosystem in the
state.
Growth Advisors are experts with substantial
networks from a range of disciplines, from legal
and marketing to ?nance and human capital.
BEN Colorado is proud to have so many of the
state’s ?nest entrepreneurial-minded leaders
participate as Advisors. For an up-to-date list,
visit bencolorado.org.
It’s tremendous to see the breadth of
focus across numerous industries, as
well as the bench strength we have
here in Colorado, when it comes to
executive leadership.
SUE KUNZ
CEO, Avenir International, Inc.;
BEN Colorado Advisor
EARLY RESULTS
20
As any entrepreneur has experienced, the ?rst year is a wild ride. BEN Colorado has grown, tried
new things, changed some approaches, and continues to perfect everything it does to support the
state’s entrepreneurial ecosystem. The Network is still in creation mode and there is a lot of energy
surrounding the next phase.
BEN Colorado companies comprised:
Network Companies Get Noticed
of the 2015 Colorado
Companies to Watch winners
of the Colorado Ofce of Economic
Development and International Trade’s
Advanced Industry Grant recipients in 2015
of the 2014 EY Entrepreneur
of the Year semi?nalists for the
Mountain Desert region
BEN Colorado has been immensely
successful in creating a very power-
ful network of experienced entrepre-
neurs who support each other in the
quest to build large and lasting en-
terprises with Colorado foundations.
I have found that the culture of the
group is wonderfully supportive and
focused on a critical segment of the
business community that historically
has been left without much community
or network engagement.
GEORGE HEINRICHS
Co-Founder and Former CEO, Intrado Inc.
Blackstone Entrepreneur 2015
20%
Early Results
PRESS COVERAGE
21
The launch of BEN Colorado has made a buzz, with mentions in
several media outlets, including CBS Denver, Denver Business
Journal, Denver Post, Id8nation.com, and Xconomy.com.
While Colorado is recognized as a top hub for entrepreneurship and innovation,
the state’s startup ecosystem still struggles to keep potential large-scale successes
from uprooting in search of capital, engineering talent or other resources. The
Blackstone Entrepreneurs Network will … aim to strengthen Colorado’s startup
community by encouraging greater collaboration among local businesses, which
are generally siloed by geography and industry.
Denver Post, April 20, 2014
The Blackstone Entrepreneurs Network in Colorado … could be the most
signi?cant initiative to launch this year in support of the state’s entrepreneurship
and innovation community.
Denver Post TECH+, April 21, 2014
A new network meant to help entrepreneurs ?nd resources and thrive in
Colorado, backed by investment giant Blackstone Group LP, will be formally
announced Wednesday, with some of the state’s and academia’s top ofcials
unveiling it. JB Holston — chairman of Denver-based software company Sitrion,
formerly called Newsgator — will manage BEN. The network will also have ties to
the Silicon Flatirons technology and entrepreneurship think tank at CU-Boulder’s
law school.
Denver Business Journal, April 22, 2014
BEN – a new model in entrepreneurial networking and mentoring – engages
a region’s most accomplished serial entrepreneurs and gives them a job: to
promote the performance of the regional entrepreneurial ecosystem. Again they
focus on what they do best: helping founders build their companies. You can
think of the BEN entrepreneurs as a talent agency for the region’s entrepreneurial
economy. While myriad programs, accelerators and incubators and resources are
available to support startups in a region, BEN instead supports the most promising
entrepreneurial companies that have the greatest potential to scale and the “grow
ups,” or companies that have already proven themselves in the market and have
demonstrated market potential. BEN, therefore, is a bold experiment that
promises substantial economic returns.
Ted Zoller / Id8nation.com, March 24, 2015
Press Coverage
BEN COLORADO
22
doc_688258782.pdf
During this such a brief criteria around ben colorado connecting colorados serial entrepreneurs with high growth companies.
BEN COLORADO
1
IMPACT REPORT
2015
BEN COLORADO:
Connecting Colorado’s
serial entrepreneurs with
high-growth companies
2
4
9
12
20
21
Welcome
Get to Know BEN Colorado
The Program
The Network
Early Results
Press Coverage
ENTREPRENEURSHIP IS AT THE HEART OF ECONOMIC DEVELOPMENT and
creates opportunities to build an increasingly inclusive and prosperous so-
ciety. The entrepreneurial companies that make the biggest contribution to
our economy and society are the gazelles—the successful startups that are
scaling to $100M of revenue and beyond. The most successful ones among
them are the unicorns, those who surpass $1B of revenue.
The Blackstone Entrepreneurs Network (BEN) focuses on Colorado’s ga-
zelles, and those scale-up Companies which are on the cusp of following
in their footsteps. BEN Colorado develops relationships with these Com-
panies, providing access to a talented network of advisors and mentors.
Importantly, we celebrate their successes and help them overcome their
obstacles. We strive to help the gazelles become unicorns and the aspiring
scale-ups to become gazelles.
I am honored to be BEN Colorado’s ?rst Steering Committee Chairperson,
as it provides me the opportunity to collaborate with the talented people
and companies associated with BEN Colorado and be part of creating fu-
ture generations of gazelles and unicorns.
DAN CARUSO
Founder and CEO, Zayo Group
Founding Executive, Level 3 Communications
Chair, BEN Colorado Steering Committee
BEN Colorado Network Companies
Denver
Boulder
Longmont
Broom?eld
WELCOME
2
T
he ?rst year for the Blackstone Entrepreneurs Network in Colorado has
been busy, rewarding, productive—and fun. As you’ll see in the following
report, we’ve networked hundreds of individuals and tens of fabulous Col-
orado gazelle and unicorn companies toward the dual goals of connecting our
great serially successful business leaders across silos and helping the Colorado
ecosystem develop more quickly toward scale-up success. In the process, we’ve
hosted almost 100 live events and met with hundreds of CEOs and individuals
across the state.
We’re often asked how it’s possible to put together such a powerful network in
such a short time. The answer is, of course, Colorado. We all bene?t from a uniquely
collaborative culture that is highly aligned around growing great businesses here.
That alignment crosses government, enterprise, and academia. As our friends at
Blackstone report, this spirit of collaboration is exceedingly rare in business com-
munities across America.
There are innumerable folks giving immeasurable amounts of time to connect
across the Network and assist in every way possible the companies that are in-
volved, but I’d like to particularly acknowledge the Steering Committee and the
inaugural Chair, Dan Caruso, Founder, CEO, and Chairman of The Zayo Group.
Zayo went public last year, eight years after its inception in Colorado, and is now
one of the 20 most valued public companies in the state, with a market capitaliza-
tion near $10 billion. Dan has increasingly focused his and the company’s time on
building out the Colorado business ecosystem. That combination of success and
sel?essness personi?es BEN Colorado at its best.
We are fortunate to have so many Network members who are willing to “give be-
fore they get” to support our next generation of scale-up successes. Our inaugural
Blackstone Entrepreneurs, George Heinrichs, Mark Hopkins and Tom Moore have
spent countless hours working with our network companies. We welcomed Mark
Retzlof, an icon in the natural foods world, as our fourth Blackstone Entrepreneur
this year. These four, like so many of our Network Advisors, understand the need
for honest feedback, peer-to-peer collaboration, and rapid connection-building
between Companies and Advisors and their networks. The trusted opinions and
guidance they provide are core values in our community.
I’d also like to speci?cally acknowledge Senator Michael Bennet, whose initial ef-
forts with Blackstone led to their support for BEN in Colorado through the Univer-
sity of Colorado. And that of course means a big shout out to Monisha Merchant,
formerly the Senator’s Business Liaison, whose tireless work is the true reason the
initiative was able to launch, as the Senator candidly explains.
I hope you enjoy the stories and vignettes included. While the project is still in its
Alpha phase, and we’ll continue to add more and more value, I’m proud of the
great work the staf has done creating a context for a powerful Network whose
mission is building Colorado faster. I invite you to consider how you can get more
involved.
JB Holston
Founding Executive Director
Blackstone Entrepreneurs
Network
This spirit of
collaboration
is exceedingly
rare in business
communities
across America.
WELCOME
3
T
he Blackstone Entrepreneurs Network represents a milestone for the con-
tinued development of a robust entrepreneurial ecosystem here in Colora-
do. With BEN Colorado’s ?rst year under our belt, it is an opportune time to
re?ect on its impact and the state of the overall entrepreneurial ecosystem.
The BEN Colorado experience con?rms for me how Coloradans are willing to give
?rst, support one another, and take the long view about how each of our success-
es redound to help one another. As Brad Feld often remarks, the building of great
entrepreneurial communities is a decades-long journey. Over the course of this
journey, Colorado is building momentum by eschewing a “what’s in it for me” or
“you win, therefore I lose” culture. Rather, we ask, “how can I help you?” and “how
can we celebrate your success?” BEN Colorado is a powerful example of how this
works.
For the Silicon Flatirons Center and the University of Colorado, we are privileged
to host BEN Colorado and bene?t from our connections with such a world-class
entrepreneurial community. Over the past decade Silicon Flatirons has worked to
engage with and contribute to Colorado’s remarkable entrepreneurial ecosystem.
During that time, we have worked with others to build up programs on campus,
including the New Venture Challenge and an Entrepreneurs in Residence program
that is available to entrepreneurs around the world as a way to mentor students
and build their companies in Boulder.
We have also developed programs like our Crash Courses, Entrepreneurs Un-
plugged, and thought-provoking conferences and roundtables that engage both
the campus and the community. And we have reached out to the entrepreneurial
community to build programs like Startup Colorado, bringing together entrepre-
neurial leaders across the Front Range. In all of these eforts, Brad Bernthal’s lead-
ership as the head of the Silicon Flatirons’ Entrepreneurship Initiative has been
spectacular.
The launch of BEN Colorado would not have been possible without the generous
support of the Blackstone Charitable Foundation. We are very grateful that the
Foundation recognized the entrepreneurial community here in Colorado and se-
lected the Silicon Flatirons Center as the recipient of this grant.
The opportunity to bring BEN to Colorado required that we tap a range of leaders
in the Colorado entrepreneurial community to ask for their leadership in the am-
bitious undertaking of developing a network of seasoned entrepreneurs willing to
give back and mentor today’s emerging gazelles. We were fortunate to recruit JB
Holston to take on the role of Executive Director because he understood the vision
and had the relationships to create the Network. This report details the remarkable
success of the Network over the ?rst year. In detailing what BEN Colorado has
accomplished and is setting out to do, moreover, this report underscores what a
special place Colorado is.
Coloradans are
willing to take
the long view
about how
each of our
successes
redound to help
one another.
Phil Weiser
Executive Director and
Founder
Silicon Flatirons Center at
the University of Colorado
GET TO KNOW BEN COLORADO
4
We love Colorado. And we love Colorado
companies. The work of the Blackstone
Entrepreneurs Network centers around helping
companies thrive—right here in this state. To
do this, BEN Colorado carefully matches and
curates relationships between a network of
highly successful serial entrepreneurs with a
select number of high-growth companies likely to
become the state’s next “tent-pole” companies.
Through this thoughtful business match-making,
in numerous forms of implementation, BEN
Colorado makes a diference.
GAZELLE a rapid-growth company with clear po-
tential to quickly scale to very large economic pro-
?les and outcomes. High-growth prospects rather
than actual size characterize this company.
UNICORN a high-growth company similar to a ga-
zelle, but with at least a $1 billion valuation. Rain-
bows optional.
SCALE-UP a term that describes the next phase
for a company that has cleared the initial startup
stage and is growing and progressing in terms of
employees, sales, pro?tability, or other markers.
NETWORK an organic convergence of difering
individuals united by desires to promote success-
es beyond their own. The sum is greater than the
parts in this anti-hierarchy that supports diversity
along with exchanges of ideas and experiences.
The Entrepreneur’s Dictionary
To connect Colorado’s great serial entrepre-
neurs and scale-up experts with one another to
collaborate to identify, promote, assist, and con-
nect Colorado’s “gazelles” and “unicorns”–the
state’s best high-growth, high-prospect private
?rms in the technology, health, aerospace, en-
ergy, and natural foods and products industries.
BEN Colorado has brought to-
gether a powerful group of Col-
orado’s most successful entre-
preneurs from across our state
to support and promote the
scale-up ecosystem. The on-
going investment in our com-
munity will continue to make
Colorado the ideal home for
startups and scale-ups alike.
GOVERNOR JOHN HICKENLOOPER
Our Mission
Who We Are
Get to Know BEN Colorado
GET TO KNOW BEN COLORADO
5
Blackstone Charitable Foundation announces the launch of
the Blackstone Entrepreneurs Network in Colorado with a
$3 million three-year commitment. Silicon Flatirons selected
to be the steward of the grant.
JB Holston brought on as Founding Executive Director.
Network kick-of event featuring relevant business and
government leaders. Formal announcement of the
Network’s mission by Governor John Hickenlooper and
Senator Michael Bennet.
Steering Committee formed.
The program launches in both Denver
and Boulder as BEN Colorado staf
begin working with local scale-up
companies. More than 100 Industry
and Growth Advisors get on board.
7/2014
Farm-to-Table Dinner held
to announce key goals for
future growth and success.
More than 150 Advisors and
20 Companies are actively
engaged with the Network.
9/2014
Founding class of
Blackstone Entrepreneurs
selected to help Network
Companies scale.
11/2014
Kicked of new year with 30+
Network Companies, 200 Advisors,
and 4 full-time staf members.
1/2015
Launched the Colorado
Cybersecurity Consortium, a
group of ?rms and professionals
working to advance the growth of
Colorado’s cybersecurity ecosystem
through collaboration and community
discussion.
2/2015
4/2014
5/2015
Celebrating one year since
conception, the Network continues to
grow and work to support Colorado’s
scale-up ecosystem.
Our Growth
GET TO KNOW BEN COLORADO
6
B
lackstone, based in New York, is one of the
world’s leading investment ?rms, with over
$300 billion total assets under management.
The Blackstone Charitable Foundation was founded
at the time of Blackstone’s IPO in 2007 with substan-
tial commitments from the ?rm’s employees.
In?uenced by the enterprising heritage of the ?rm
and its founders, The Blackstone Charitable Founda-
tion directs its resources and applies the intellectual
capital of the ?rm to foster entrepreneurship in areas
globally. Through its investment expertise across
several asset classes and geographies, Blackstone
has a unique perspective on the global economy and
a heightened understanding of how entrepreneurial
activity is often the crucial catalyst in the growth of
successful businesses, industries, and communities.
The Blackstone Charitable Foundation, through cre-
ation of the Blackstone Entrepreneurs Network, aims
to unlock the tremendous economic potential of vari-
ous regions in the US by identifying and networking a
region’s serial, successful entrepreneurs and linking
them to the region’s next high-growth companies.
Blackstone Charitable Foundation funds BEN in Col-
orado through a $3 million three-year grant.
Through programs like the Blackstone
Entrepreneurs Network, we are serving
as a catalytic funder to strengthen en-
trepreneurial ecosystems in targeted
regions globally. In Colorado, our pro-
gram has had tremendous success over
its ?rst year engaging the top business
leaders and entrepreneurs and identify-
ing and supporting the next high-growth
companies in the state, helping these
companies stay and grow in the region.
AMY STURSBERG
Executive Director, Blackstone Charitable Foundation
Blackstone Charitable Foundation
In recent years, Colorado has become a hub for
startup companies and innovation, and last year
more than 100,000 entrepreneurs started a new
venture here. There is enormous potential in ex-
panding our existing businesses, and BEN Colo-
rado is playing a key role supporting this growth
and encouraging entrepreneurship. Building a
strong network for our thriving business com-
munity is essential to attracting future business
leaders and investment and to ensuring Colora-
do remains competitive in the global economy.
We look forward to watching the successes as
economic prosperity grows throughout the state.
SENATOR MICHAEL BENNET
GET TO KNOW BEN COLORADO
7
T
he Silicon Flatirons Center for Law, Technolo-
gy, and Entrepreneurship is an interdisciplinary
research center at the University of Colorado.
Silicon Flatirons’ core mission is to elevate the debate
surrounding technology policy issues; support and
enable entrepreneurship in the technology communi-
ty; and inspire, prepare, and place students in these
important areas.
With academic rigor, and in support of the active
entrepreneurial ecosystem in Colorado, Silicon Flat-
irons’ Entrepreneurship Initiative promotes interaction
between the broad entrepreneurial community and
students, faculty, and staf at CU-Boulder. Silicon Flat-
irons was selected as the steward of the BEN Colora-
do grant from The Blackstone Charitable Foundation
due to its 15-year legacy and noteworthy support of
entrepreneurs in Colorado.
In addition to hosting BEN Colorado, Silicon Flatirons
hosts Startup Colorado, an Entrepreneurs in Resi-
dence program, CU New Venture Challenge, and
numerous events geared toward promoting and sup-
porting entrepreneurship.
Startup Colorado focuses on multiplying connections
among entrepreneurs and mentors, improving access to
entrepreneurial education, and building a more vibrant en-
trepreneurial community. Its pivotal program is Startup Sum-
mer, which combines summer internship, education on the
fundamentals of creating and running a successful startup,
and a team competition. The internship part of the program
provides an opportunity for students to gain exposure to the
dynamics a young business faces while providing a real val-
ue to the participating startup companies.
The newly launched Entrepreneurs In Residence pilot
program will bring mentorship to students and allow entre-
preneurs domestically and globally to be part of Colorado’s
vibrant startup community. This program will reinforce the
state’s reputation as a haven for entrepreneurs and spread
this entrepreneurs-welcome message around the world
while strengthening the local ecosystem.
CU-Boulder’s New Venture Challenge is the go-to on-cam-
pus entrepreneurial competition. The program allows stu-
dents, staf, and faculty the ability to test out their new ideas
while competing for thousands of dollars in prizes. Past win-
ners have leveraged the program’s resources to take the
next step in their entrepreneurial journey, including accep-
tance into prestigious programs such as the NSF Innovation
Corps and TechStars.
The popular Crash Course Series and Entrepreneurs Un-
plugged events deliver exceptional programming focused
on nearly all aspects of entrepreneurism—from the funda-
mentals of intellectual property law to obtaining venture
capital to the softer side of managing culture while scaling
up. The forthright and intimate conversations with local en-
trepreneurs are favorites among attendees.
Through these various initiatives, Silicon Flatirons pro-
motes and supports entrepreneurs through all stages,
from students with ideas to founders of early-stage
startups to serial entrepreneurs. By powering BEN
Colorado, Silicon Flatirons champions gazelles and
unicorns as they scale up and bolster the Colorado
entrepreneurial ecosystem.
A Center for Law,
Technology, and
Entrepreneurship
at the University
of Colorado
Silicon
Flatirons
Silicon Flatirons Center
Our Entrepreneurship Initiative builds from a belief that CU-Boulder should be close-
ly wired with the world-class startup scene in Boulder and Colorado’s Front Range.
We mix campus-centric activities with community high-impact oferings. This creates
a virtuous circle in which campus and community are mutually supported and en-
riched.
BRAD BERNTHAL
Entrepreneurship Initiative Director, Silicon Flatirons Center
BEN COLORADO
8
As an Advisor and Steering Committee Member
with BEN Colorado, I’ve had the opportunity to en-
gage and interact with many entrepreneurs, in oth-
er industries around Colorado, that I would haven’t
otherwise connected with. These entrepreneurs
are running great businesses that are scaling up
dramatically, and the ability to learn from them and
help them based on the experience I’ve had in the
tech industry has been very rewarding.
BRAD FELD
Co-Founder and Managing Director, Foundry Group and Techstars;
BEN Colorado Steering Committee Member, Advisor
THE PROGRAM
9
BEN Colorado staf identify potential high-growth startup companies within the region to
become Network Companies. In BEN Colorado’s ?rst year this amounted to researching
more than 500 companies, from which 44 were selected to participate. These companies,
which are notably past the startup stage, are classi?ed as to watch, prospective gazelle,
gazelle, or unicorn as they join the Network. The level of support and assistance given
to a company increases with its growth, with the goal of helping it achieve gazelle or
unicorn status and success in Colorado.
Support at Every Stage
Involvement with BEN Colorado has truly been a one-of-a-kind
mentoring experience as I have been exposed to companies
and peers outside of my natural food expertise. This cross-in-
dustry interaction has been rewarding to me personally as I
have been able to experience the wisdom of other executives.
Additionally, watching fast growing companies share their sto-
ries has been inspirational. I believe the entrepreneurial com-
munity in Colorado has been raised to a new level through the
focus of BEN Colorado. I am thrilled to be a part of the network!
JANE MILLER
Founder and CEO, JaneKnows;
Former CEO and President, Rudi’s Organic Bakery
Startup
To Watch
Prospective
Gazelle
Gazelle
Unicorn
BEN COLORADO
The Program
THE PROGRAM
10
Colorado is known for its entrepreneurial and innovative spirit. There are myriad examples of
successful companies starting—and thriving—in the Centennial state. What there has been a
shortage of is a network of resources and support for companies who’ve risen above the traditional
startup stage and are ready and able to scale-up. That’s where BEN Colorado comes in. BEN
Colorado provides unmatched connections and access to Network Companies.
Why It Works
The Heart of BEN Colorado
How It Works
Joining the Network
One-on-one
Company meeting
with BEN Colorado
Due diligence
review of Company
At Company Session,
intro of executive team
to Network
Scale-up –
goal identi?cation
Connections to
customers,
partners, talent
resources, capital, etc.
1 2 3 4 5
Be it across industries, within a small market segment or between two Colorado cities–participation
in the Network is strengthened with relationships that matter. BEN Colorado provides opportunities
for the entire executive team of companies to meet, connect, and engage through peer-to-peer
networking and mentoring groups, industry summits, networking happy hours, and unique events
like Company Sessions and the Master Class Series. This is where the magic happens.
COMPANY SESSIONS – New Network Companies promote their company in a presentation to a
select group of Network Advisors in a rare chance to speak to the region’s top in?uencers of
entrepreneurship and get their feedback. In turn, the Advisors learn about high-growth companies
(often before the rest of the world knows about them) and have the opportunity to connect with
other Advisors.
MASTER CLASS SERIES – Featuring leaders from around the state and nation, these sessions
are behind-the-scenes glimpses into the real-world challenges and opportunities faced by
entrepreneurs. Their compelling stories are both inspirational and educational.
MORE SHARING – Every person and every company has a story to tell. BEN Colorado helps get
these powerful stories out into the community. Promoting Network Companies is an essential and
meaningful facet of BEN Colorado.
Network Advisors and Companies alike comment on the high quality of BEN Colorado events. In
the fast-paced world of entrepreneurship, these busy CEOs and Advisors prioritize BEN Colorado,
with a nearly 90% participation rate.
THE PROGRAM
11
Colorado’s innovative spirit coupled with its extensive infrastructure and central
geographic location allow the state to be a hub for easily deliverable goods and services
across the nation and around the world. BEN Colorado promotes and supports high-
growth companies in Colorado’s most important industry sectors. In its ?rst year, BEN
Colorado focused on companies within the aerospace, energy, health, natural products,
and technology industries. As the Network grows and evolves, so too will the industries
involved.
Designated Industry Sectors
Network Company Industries
4 1111S
Technology
22 companies, 48%
Health
7 companies, 17%
Natural Products
5 companies, 12%
Energy
5 companies, 12%
Aerospace
5 companies, 10%
TECHNOLOGY
HEALTH
NATURAL
PRODUCTS
ENERGY
AEROSPACE
COLORADO IS THE PLACE FOR DREAMERS AND RISK-TAKERS.
BEN Colorado has raised the pro?le of interesting com-
panies across industries, making the business community
and our political leaders aware of the exciting technolo-
gies being created in our backyard.
MONISHA MERCHANT
Founder, Lotus Advisory;
BEN Colorado Advisor
THE NETWORK
12
The Network
BEN Colorado is a community, or Network of Advisors and Companies, designed to provide
resources and support to Colorado’s high-growth companies. To accomplish this, BEN
Colorado:
IDENTIFIES HIGHLY SUCCESSFUL SERIAL ENTREPRENEURS from diverse backgrounds to be
Blackstone Entrepreneurs, Industry Advisors, or Growth Advisors
IDENTIFIES AND EVALUATES POTENTIAL HIGH-GROWTH STARTUP COMPANIES within the region
as to watch, prospective gazelle, gazelle, or unicorn
SUPPORTS COMPANIES THAT MEET BEN COLORADO CRITERIA by providing access to the
Network to scale up and accelerate as Colorado-based companies
Part of Our Story
The Numbers
The Real Story
The People Involved and Their Connections
In 9 months:
4000
Introductions and meetings
500
Companies researched
5
Colorado industries
200
Companies interviewed
200
Industry and Growth Advisors
44
Companies in Network
BEN Colorado has exposed me to a diferent cross-section of Colorado’s thriving
entrepreneurial community in a way that is energizing and productive for me while
providing key connections and perspective in support of our next generation of
gazelles. I have reconnected with people I had lost track of, met new ones that I
can’t believe I didn’t know, and been introduced to investment opportunities that I
wouldn’t have seen otherwise.
MARK HOPKINS
Managing Partner, Crescendo Capital Partners;
Founder and Former CEO, Peak Industries;
Blackstone Entrepreneur 2015
THE NETWORK
13
These established Colorado business leaders are dedicated to the growth of BEN Colorado. They
determine BEN Colorado’s long-term strategy and provide guidance on the initiatives that promote and
support Network Companies.
DAN CARUSO [2015 CHAIR]
Founder and CEO, Zayo Group;
Founding Executive, Level 3 Communications
Having a career rich in technology business endeavors, Dan founded Zayo Group, helped
found Envysion as an angel investor, was a founding executive of Level 3 Communications
and a former President and CEO of ICG Communications. Zayo Group Holdings is now a
public, $5 billion company, after its successful IPO in October 2014.
JIM BURKE
President and Board Member, NGL Energy Partners LP;
Co-Founder and Former President and CEO, High Sierra Energy, LP;
Co-Founder, Petro Source Partners
Jim co-founded High Sierra Energy, which he grew to over $3 billion in revenue over eight
years before successfully merging with NGL Energy Partners in 2012. NGL is engaged in
the marketing, transportation, and logistics of crude oil and natural gas liquids. NGL cur-
rently has 3,200 employees, a market capitalization of $3 billion, and revenues in excess
of $16 billion.
Steering Committee
BRAD BERNTHAL
Associate Professor, University of Colorado Law School;
Founding Director, Entrepreneurship Initiative, Silicon Flatirons Center
Brad leads Colorado Law’s Entrepreneurial Law Clinic, which provides legal help to local
startups, and he teaches doctrinal courses in the areas of venture capital, entrepreneur-
ship, and innovation policy as well as courses in CU-Boulder’s Interdisciplinary Telecommu-
nications Program. He is a TechStars mentor and analyzes angel investment opportunities.
LIBBY COOK
Founder, President, and Co-Director,
Philanthropiece Foundation
Libby Cook has 25 years’ experience in the natural foods grocery industry, having
co-founded, led, and served as General Counsel for both Wild Oats Markets and Sun?ower
Markets, and brings her entrepreneurial background, expertise, and vision to the work of
the Philanthropiece Foundation. Philanthropiece is a nonpro?t dedicated to building deep
and authentic relationships that empower change-makers around the world to co-create
resilient communities.
THE NETWORK
14
PETE HUDSON
Founder and Former CEO,
iTriage
A physician and entrepreneur with more than 20 years of experience founding and grow-
ing healthcare-related businesses, Pete co-founded iTriage, which was acquired by Aetna
in what is considered the ?rst signi?cant exit in the mobile health space.
NANCY PHILLIPS
Co-Founder and CEO,
ViaWest
President and CEO of ViaWest, Nancy has led the growth of the company to 1,500 cus-
tomers and 28 data centers in seven markets since co-founding the organization in 1999.
Nancy began her career in telecommunications with Teleconferencing Systems of Canada.
Since then, she has been a partner in numerous startups and acquisitions and actively
promotes women and diversity in the technology community.
PHIL WEISER
Dean, University of Colorado Law School;
Founder and Executive Director, Silicon Flatirons
Fifteen years ago Phil founded Silicon Flatirons as a center for law, technology and entre-
preneurship. It has grown into a top destination for entrepreneurs and academia to engage
and participate in intellectually honest programs. Under Phil’s leadership, Colorado Law is
recognized nationally for law school innovation.
Steering Committee
JB HOLSTON
Founding Executive Director, BEN Colorado
With 25 years of successes as a global scale-up CEO and entrepreneur, JB served as
the Founding Executive Director of BEN Colorado, overseeing the program’s launch.
His experience includes serving as the founding CEO for NewsGator (now Sitrion) and
President of Zif Davis International, during which time he helped launch Yahoo!Europe.
BRAD FELD
Co-Founder and Managing Director,
Foundry Group and Techstars
An early stage investor and entrepreneur for several decades, Brad has co-founded
Foundry Group, Techstars, Mobius Venture Capital, and Intensity Ventures. He speaks and
writes extensively on the topics of venture capital investing and entrepreneurship and
actively serves on the boards of the National Center for Women & Information Technology,
Startup Colorado, and UP Global.
AARON KENNEDY
Founder, Former Chairman and CEO, Noodles & Company;
Former Chief Marketing Ofcer, State of Colorado
Prior to launching Noodles & Company, and growing it to 170 restaurants in 15 states be-
fore handing over the reins, Aaron directed brand design projects for brands including
Coca-Cola, Swiss Army Products, the PGA Tour, Pepsi Cola Company, and Kraft/General
Foods, where he helped develop and launch Lunchables, now a $1 billion brand.
THE NETWORK
15
GEORGE HEINRICHS
Co-Founder and Former CEO,
Intrado, Inc.
George co-founded Intrado, a global provider of pub-
lic safety communications services and served as the
company’s CEO until his recent retirement. Intrado
led the emergency services industry in retooling the
national infrastructure to accommodate the rapidly
evolving telecommunications world. The company was
“boot-strapped” in the beginning, later raising venture
funding, becoming one of Colorado’s largest software
companies, going public on the NASDAQ National
Markets, and ?nally being acquired by a larger public
company for approximately $500 million. A recognized
expert in emergency services, George has played a
key role in the evolution of our nation’s emergency
communications networks for the past thirty-?ve years.
MARK RETZLOFF
Co-Founder and Board Member, Aurora Organic Dairy;
Co-Founder and Chairman, Alfalfa’s;
Co-Founder of Horizon Organic Dairy
Mark is a pioneer in the organic and natural foods
industry with a 45-year career starting and manag-
ing successful and industry-leading companies. He
co-founded Alfalfa’s, a Boulder-based natural grocer
that merged with Wild Oats Markets, eventually being
acquired by Whole Foods. Other endeavors include
co-founding Horizon Organic Dairy and selling it to
Dean Foods, co-founding Aurora Organic Dairy and
serving as Chairman of Rudi’s Organic Bakery where
he helped execute a successful turn-around. During
Mark’s term as chairman of the Organic Food Alliance,
the organization was instrumental in passing the 1990
Organic Food Production Act. Mark was also co-found-
er of Naturally Boulder and is senior advisor for the
Boulder Farm Team consulting group.
THOMAS E. MOORE
Principal, TimesArrow Capital, LLC;
Senior Vice President, ViaSat, Inc.
A technologist at heart and by training, Tom has been
at the forefront in the development of video, voice, and
data broadband technology for the satellite, wireless,
and cable television industries. During the 1990s, Tom
was instrumental in the creation of patented technolo-
gy supporting what is known as a DOCSIS™ cable mo-
dem, which was a global ITU standard with over 100
billion devices deployed worldwide. He founded Wild-
Blue Communications, which became the second larg-
est satellite-based broadband service provider in the
world. He raised hundreds of millions of dollars for the
company then subsequently sold it to ViaSat in 2009.
TimesArrow Capital is a private investment ?rm based
in Denver.
BEN Colorado has provided me with an incredible opportunity to meet and interact with
entrepreneurs and business leaders from a breadth of industries outside my area of
expertise that I would never have had without the program.
THOMAS E. MOORE
Principal, TimesArrow Capital, LLC;
Senior Vice President, ViaSat, Inc.;
Blackstone Entrepreneur 2015
Blackstone Entrepreneurs
MARK HOPKINS
Co-Founder and Managing Partner,
Crescendo Capital Partners;
Founder and Former CEO, Peak Industries
After 15 years in engineering and executive positions
with Hewlett Packard and Emerson Electric, Mark
founded Peak Industries. Peak became one of the
leading contract manufacturers of complex medical
systems for companies like Medtronic and Cardinal
Healthcare. Mark grew Peak from a startup in 1996 to
a full service medical device manufacturer producing
dozens of products and generating sales of $75 mil-
lion. Peak Industries was acquired by Delphi Medical
Systems as the cornerstone acquisition supporting Del-
phi’s entry into the medical device arena. Crescendo
Capital Partners is a lower middle market private equi-
ty ?rm based in Denver. Mark is also the author of the
book “Shortcut to Prosperity.”
THE NETWORK
16
Network Companies
Gazelles
®
Accuvant recently merged with FishNet Security to
create the nation’s premier cyber security solutions
provider. The company, which will begin conduct-
ing business as Optiv Security in summer 2015,
delivers a complete set of services, products, and
solutions to help enterprises combat the growing
cyber threat. Optiv will be headquartered in Den-
ver. BEN Colorado connected several peers and
community resources with CEO Dan Burns during
the merger process.
Founder
Industry
Founded
BEN Colorado
Dan Burns
Technology
2002
Gazelle
Accuvant
Graduate
Artifact Uprising makes elegant, high-end photography prod-
ucts for custom order. Founded by two ?rst-time entrepre-
neurs and passionate photographers, the company was re-
cently sold to VSCO in Oakland. Throughout the time leading
up to the sale, the Founders were actively meeting with BEN
Colorado Advisors who provided guidance as the Founders
chose the path that would be best based on their interests
and needs.
Founders
Industry
Founded
BEN Colorado
Jenna Walker, Katie Thurmes
Technology
2012
Graduate
BCT is a Boulder-based aerospace ?rm that con-
tinues to see rapid growth in the demand for its
nano-satellite product line. BCT produces star
trackers, reaction wheels, and other spacecraft
components and designs. Three aerospace engi-
neers founded the company and BEN Colorado has
helped them to work through business analysis and
decision-making. As this leadership team continues
to face incredible growth, BEN Colorado Advisors
have made connections with ?nancial advisors and
advised on several important business decisions.
Founders
Industry
Founded
BEN Colorado
Matt Beckner, George Staford
Aerospace
2008
Prospective Gazelle
E
S
Cool Planet uses innovative technology to turn
agricultural residues into gasoline, jet, diesel, and
CoolTerra
TM
biocarbon, which address three of the
world’s largest markets: energy, food, and water.
Cool Planet’s CoolTerra
TM
soil amendment increas-
es the yield of crops and uses less water and fer-
tilizer, providing a solution to the drought-stricken
California agriculture, turf, and horticulture indus-
tries. The nature of the business for Cool Planet is
international and in several diferent markets, and
BEN Colorado continues to work with the executive
team to help them grow the company’s presence
in Colorado. Veteran CEO Howard Janzen has
connected with other CEOs within the Network for
peer-to-peer conversations about challenges other
companies are facing and as a way to make unique
Colorado connections.
Cool Planet
CEO
Industry
Founded
BEN Colorado
Howard Janzen
Energy
2009
Gazelle
Blue Canyon Technologies
THE NETWORK
17
Network Companies
Prospective Gazelles
Craftsy is a leader in online education and the
premier destination for inspiration, learning, and
supplies for passionate enthusiast makers. The
company has experienced phenomenal success
in its lifetime, with over 8 million registered mem-
bers, 4.2 million course enrollments and almost
1,000 course oferings. The Network has helped
the founders and executive team at Craftsy, who
are veteran entrepreneurs, by making introduc-
tions to relevant individuals and companies as well
as curating conversations to help sustain business
growth at a very high pace.
Founders
Industry
Founded
BEN Colorado
John Levisay, Josh Scott,
Todd Tobin, Bret Hanna
Technology
2010
Gazelle
Craftsy
With a focus on empowering people to eat good
food, Door to Door Organics delivers top-quality
organic produce and natural, local groceries to
customers’ doors in 13 states. The Louisville-based
company closed a $25.5 million Series B ?nancing
round in late 2014. After closing this capital raise,
the Door to Door Organics executive team en-
gaged with BEN Colorado for support as they grow
the team in Colorado. Speci?cally, BEN Colorado
has worked to advertise new positions and ?nd the
right ?ts for their team.
President and CEO
Industry
Founded
BEN Colorado
Chad Arnold
Natural Products
1997 in Pennsylvania,
2005 relocated to Colorado
Prospective Gazelle
Door to Door Organics
THE NETWORK
18
Network Companies
NanoSphere Health Sciences
Advanced Bio Technology
n
™
The natural foods company is based in Denver
and makes delicious and nutritious foods while ed-
ucating kids, parents, and teachers about the im-
portance of eating healthy. The Founders are two
?rst-time entrepreneurs who launched Love Grown
Foods in Aspen following graduation from the Uni-
versity of Denver. Love Grown Foods has doubled
revenue year over year through expanding product
lines and distribution throughout the nation. The
Founders have connected with several BEN Col-
orado Advisors to work through and discuss chal-
lenges involved with scaling a company.
Founders
Industry
Founded
BEN Colorado
Alex & Maddy Hasulak
Natural Products
2008
Prospective Gazelle
Love Grown Foods
Founded by pharmacist and veteran health care ex-
ecutive Frank Segrave, Silvergate Pharmaceuticals
is an emerging leader in pediatric medications. The
company currently manufactures Epaned®, which
is FDA approved for treatment of hypertension,
symptomatic heart failure, and asymptomatic left
ventricular dysfunction in children. The company is
working to launch several more products in 2016.
While Silvergate Pharmaceuticals executives are
highly experienced in the pharmaceutical industry,
BEN Colorado has been helpful in making introduc-
tions to leaders in the Colorado health and pharma-
ceutical industry.
Silvergate Pharmaceuticals
Founder
Industry
Founded
BEN Colorado
Frank Segrave
Health
2010
Gazelle
Companies To Watch
THE NETWORK
19
FOUNDING EXECUTIVE DIRECTOR
JB Holston
DIRECTOR OF OPERATIONS
Hannah Loudin
DIRECTORS OF BUSINESS RELATIONS
Dave DiGiacomo
Kate Waller
2015 BLACKSTONE FELLOWS
Jef Hopfenbeck
Jake Lozow
Many great organizations, academic institu-
tions, civic organizations, and more were inte-
gral to the formation and progress of the Net-
work. This list is always expanding.
B Lab Colorado
Boulder Chamber
Boulder Economic Council
Colorado BioScience Association
Colorado Cleantech Industries Association
Colorado College
Colorado Ofce of Economic Development
and International Trade
Colorado State University
Colorado Technology Association
Denver Metro Chamber of Commerce
Denver Ofce of Economic Development
Epicentral Coworking
Galvanize
Innosphere
Metro Denver Economic Development Corporation
Naturally Boulder
Ofce of Governor Hickenlooper
Ofce of Senator Bennet
Society of Physician Entrepreneurs
University of Colorado Boulder
University of Colorado Colorado Springs
University of Denver
Leadership Team
Partner Council
Network Advisors
Advisors are critical to the Network. Industry
Advisors are many of Colorado’s leading busi-
ness entrepreneurs, representing all of BEN
Colorado’s initial industry segments and ge-
ographies. These individuals are committed to
helping to identify and ?lter Companies joining
the Network and assess the speci?c assistance
that each of these Companies can utilize, while
opening their networks to the Network to help
grow the entrepreneurial ecosystem in the
state.
Growth Advisors are experts with substantial
networks from a range of disciplines, from legal
and marketing to ?nance and human capital.
BEN Colorado is proud to have so many of the
state’s ?nest entrepreneurial-minded leaders
participate as Advisors. For an up-to-date list,
visit bencolorado.org.
It’s tremendous to see the breadth of
focus across numerous industries, as
well as the bench strength we have
here in Colorado, when it comes to
executive leadership.
SUE KUNZ
CEO, Avenir International, Inc.;
BEN Colorado Advisor
EARLY RESULTS
20
As any entrepreneur has experienced, the ?rst year is a wild ride. BEN Colorado has grown, tried
new things, changed some approaches, and continues to perfect everything it does to support the
state’s entrepreneurial ecosystem. The Network is still in creation mode and there is a lot of energy
surrounding the next phase.
BEN Colorado companies comprised:
Network Companies Get Noticed
of the 2015 Colorado
Companies to Watch winners
of the Colorado Ofce of Economic
Development and International Trade’s
Advanced Industry Grant recipients in 2015
of the 2014 EY Entrepreneur
of the Year semi?nalists for the
Mountain Desert region
BEN Colorado has been immensely
successful in creating a very power-
ful network of experienced entrepre-
neurs who support each other in the
quest to build large and lasting en-
terprises with Colorado foundations.
I have found that the culture of the
group is wonderfully supportive and
focused on a critical segment of the
business community that historically
has been left without much community
or network engagement.
GEORGE HEINRICHS
Co-Founder and Former CEO, Intrado Inc.
Blackstone Entrepreneur 2015
20%
Early Results
PRESS COVERAGE
21
The launch of BEN Colorado has made a buzz, with mentions in
several media outlets, including CBS Denver, Denver Business
Journal, Denver Post, Id8nation.com, and Xconomy.com.
While Colorado is recognized as a top hub for entrepreneurship and innovation,
the state’s startup ecosystem still struggles to keep potential large-scale successes
from uprooting in search of capital, engineering talent or other resources. The
Blackstone Entrepreneurs Network will … aim to strengthen Colorado’s startup
community by encouraging greater collaboration among local businesses, which
are generally siloed by geography and industry.
Denver Post, April 20, 2014
The Blackstone Entrepreneurs Network in Colorado … could be the most
signi?cant initiative to launch this year in support of the state’s entrepreneurship
and innovation community.
Denver Post TECH+, April 21, 2014
A new network meant to help entrepreneurs ?nd resources and thrive in
Colorado, backed by investment giant Blackstone Group LP, will be formally
announced Wednesday, with some of the state’s and academia’s top ofcials
unveiling it. JB Holston — chairman of Denver-based software company Sitrion,
formerly called Newsgator — will manage BEN. The network will also have ties to
the Silicon Flatirons technology and entrepreneurship think tank at CU-Boulder’s
law school.
Denver Business Journal, April 22, 2014
BEN – a new model in entrepreneurial networking and mentoring – engages
a region’s most accomplished serial entrepreneurs and gives them a job: to
promote the performance of the regional entrepreneurial ecosystem. Again they
focus on what they do best: helping founders build their companies. You can
think of the BEN entrepreneurs as a talent agency for the region’s entrepreneurial
economy. While myriad programs, accelerators and incubators and resources are
available to support startups in a region, BEN instead supports the most promising
entrepreneurial companies that have the greatest potential to scale and the “grow
ups,” or companies that have already proven themselves in the market and have
demonstrated market potential. BEN, therefore, is a bold experiment that
promises substantial economic returns.
Ted Zoller / Id8nation.com, March 24, 2015
Press Coverage
BEN COLORADO
22
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