8th Continent Project Starts Colorado's First Aerospace Incubator

GOLDEN, Colo.--(BUSINESS WIRE)--The 8^th Continent Project, the world’s most comprehensive effort to integrate space technology and resources into the global economy, has received a $150,000 grant from the Colorado Economic Development Commission to start Colorado’s first ever aerospace business incubator – helping the state maintain its national ranking as the second largest private aerospace employer.

“The 8th Continent business incubator will serve the Space 2.0 entrepreneurial community by bringing entrepreneurs together with expertise in venture capital, legal, risk management, communications and management consulting. The incubator companies also will receive membership in the 8th Continent Chamber of Commerce and gain all the benefits that it offers.”

The 8^th Continent Project, an initiative of the Colorado School of Mines, includes a chamber of commerce, funding network, research center, and now the business incubator. The Project is organizing “Space 2.0” – the emerging generation of entrepreneurial space-related business ventures – and working to define the next frontier and solve some of the world’s biggest challenges, from global warming to resource and energy development. The infusion of space resources into the global economy will be the next big leap as we begin to bring space down to Earth™.

“For the first time, government, industry and academia have joined forces with entrepreneurs and venture capitalists to forge the next frontier in commercializing space technology and resources,” said Colorado Governor Bill Ritter. “With our region’s unique cluster of businesses, IT infrastructure, research institutions and aerospace workforce, the 8^th Continent Project and Colorado’s first aerospace incubator will position Colorado at the vortex of ‘Space 2.0.’”

The incubator, which will provide services but no office space, will serve companies that are involved in space technology and resource development for everything from activities in space to immediate opportunities on Earth. The companies can include anything that is typically associated with the space program. The 8^th Continent incubator expects to serve 14 to 15 start-ups per year. Burke Fort, executive director of the 8^th Continent Project, and John Metzger, CEO of Metzger Associates, will serve as co-directors of the incubator.

“We are delighted that the Colorado Economic Development Commission chose the 8^th Continent project to fund the first-ever aerospace incubator in Colorado,” said Burke Fort, 8^th Continent Project executive director. “The 8^th Continent business incubator will serve the Space 2.0 entrepreneurial community by bringing entrepreneurs together with expertise in venture capital, legal, risk management, communications and management consulting. The incubator companies also will receive membership in the 8^th Continent Chamber of Commerce and gain all the benefits that it offers.”

Each dollar provided by the Commission is being matched by $2.5 dollars through cash and in-kind contributions from the 8^th Continent’s founding partners, including the Colorado School of Mines, Townsend and Townsend and Crew intellectual property law firm, and Metzger Associates public relations and capital strategies firm. The grant will be distributed over three years at $75,000 the first year, $50,000 the second year and $25,000 for the third year.

“The incubator and the 8^th Continent Project also will provide more resources for the traditional large budget spacecraft and exploration-based firms, Space 1.0, that have a strong presence in the state,” Fort added.

Find out how to apply or for more information, contact Burke Fort at burke.fort@8cproject.com or visit www.8cincubator.com.

About the Colorado Economic Development Commission

The Colorado Economic Development Commission (EDC) was created by the legislature to promote economic development in Colorado. It consists of nine members five of whom are appointed by the Governor, two by the President of the Senate and two by the Speaker of the House. The EDC approves loans and grants from the economic development fund to public and private entities throughout the state to help existing businesses expand and new companies locate to Colorado. It also implements marketing programs to support ongoing business activities. All policy and funding decisions are made by commission members.

About the 8^th Continent Project

Based out of Golden, Colorado, the Colorado School of Mines’ 8^th Continent Project is the world’s most comprehensive effort to integrate space technology and resources into the global economy. 8^th Continent provides the infrastructure and resources to solve a wide range of challenges from global warming to renewable energy development. Headquartered in Colorado, home of the most concentrated entrepreneurial, investor and aerospace talent in the world, 8^th Continent brings space down to earth with the industry’s first trade association, incubator, funding network and research hub, all working together to develop the next generation of space business ventures. More information can be found at www.8cproject.com.