{"id":19045,"date":"2016-01-25T17:07:02","date_gmt":"2016-01-25T22:07:02","guid":{"rendered":"https:\/\/www.wework.com\/creator\/?p=19043"},"modified":"2020-03-30T19:26:59","modified_gmt":"2020-03-30T23:26:59","slug":"why-are-millennials-flocking-to-denver","status":"publish","type":"post","link":"https:\/\/www.wework.com\/ideas\/professional-development\/why-are-millennials-flocking-to-denver","title":{"rendered":"Why are millennials flocking to Denver?"},"content":{"rendered":"\n

Millennials are flocking to Denver in such large numbers that they have officially outpaced the baby boomers in the city\u2019s workforce\u2014and the city\u2019s robust startup scene has a lot to do with it.<\/p>\n\n\n\n

Last year there were about 176,458 millennials living in Denver, compared to about 99,095 baby boomers, according to the latest U.S. Census Bureau statistics.<\/p>\n\n\n\n

One reason why so many young entrepreneurs are headed to Denver is the opportunity to find colleagues, secure funding, and build networking opportunities through Denver Startup Week<\/a>, the largest free startup conference in the nation. Another big draw is The Commons on Champa<\/a>, a public campus for entrepreneurship that attracts new founders to its free workshops. The campus was founded by Downtown Denver Partnership, Colorado Technology Association and the City and County of Denver.<\/p>\n\n\n\n

And it doesn\u2019t hurt that companies that provide collaborative workspaces have made opening an office easier. WeWork is unveiling two downtown offices \u2014WeWork Union Station<\/a> and WeWork LoHi<\/a>\u2014in the coming months.<\/p>\n\n\n\n

For young startups, Denver is the place to meet successful entrepreneurs who will mentor you after a cold call, and it\u2019s not a surprise for most around here.<\/p>\n\n\n\n

\u201cIf you have a business idea, and you want to get started, there\u2019s not a better place to cold email or call CEOs and understand how to build a startup than in Denver,\u201d says Colorado Technology Association<\/a> CEO Erik Mitisek. \u201cAlmost all of them will call you back and engage. They know they\u2019re on the backs of others who gave them a lot, so the cycle of gratuity runs deep in our community, which allows young companies to accelerate.\u201d<\/p>\n\n\n\n

\"\"<\/figure>\n\n\n\n

Mitisek, a Denver native and serial entrepreneur, has been inspired to build upon the foundation of the growing startup community by giving his time. He\u2019s the founder of Denver Startup Week, Startup Colorado<\/a>, Startup Community Fund<\/a>, and BuiltIn Colorado<\/a>.<\/p>\n\n\n\n

\u201cI spend two to four hours a week mentoring early-stage companies, and I do it every week regardless of how busy I may be,\u201d says Mitisek, a mentor at Techstars<\/a>, one of the largest mentor-driven startup accelerators. \u201cFor me the most important thing I can do is get young entrepreneurs to the stage to be successful. If I can give them a shortcut to build something great, it elevates the Denver community.\u201d<\/p>\n\n\n\n

After being inspired by Denver Startup Week two years ago, two female freelance photographers who are millennials made the decision to move to Denver and founded Artifact Uprising<\/a>, which makes tangible goods out of digital photography.<\/p>\n\n\n\n

\u201cTwo years later, they raised capital and were purchased by VSCO, the largest next gen tech company in San Diego,\u201d Mitisek recalls.<\/p>\n\n\n\n

Other ways Denver encourages millennial entrepreneurs is by providing them with access to funding. The Denver Office of Economic Development<\/a> publishes a venture capitalist report that tracks where local startups are accessing capital and how much funding they\u2019re receiving. For the past three years, the city has partnered with Rockies Venture Club, Catapult, and TiE Rockies to hold an annual VC pitch competition in which hundreds of young companies apply.<\/p>\n\n\n\n

\u201cThe Rockies Venture Club<\/a> taught me valuable information about how to ask people for money,\u201d says Chris Herr, founder of Gunlock and Denver Grant Writers<\/a>. \u201cThat was the biggest resource for me to learn how to fundraise and do a pitch in a short time frame.\u201d<\/p>\n\n\n\n

In the pitch competitions, contestants get feedback on their business plans, says Paul Washington, executive director of the Denver Office of Economic Development. They provide between $1.5 million and $2 million annually to small businesses.<\/p>\n\n\n\n

And as the next generation of startup founders grow out of their early stage needs and require access to Series A funding, the city is responding to the shift by pursuing more private partnerships to provide more grants, Washington says.<\/p>\n\n\n\n

Companies are ‘hiring like crazy’<\/strong><\/h2>\n\n\n\n

The big trend for young professionals, especially startup founders, is to move into the downtown area and get plugged into a community of entrepreneurs. Lately, the place to get free resources, space, and networking opportunities is The Commons on Champa, located in the heart of Denver\u2019s Central Business District, not far from Union Station.<\/p>\n\n\n\n

\u201cWe know that in order to build strong entrepreneurial communities, we need to build strong micro communities,\u201d says Tami Door, president and CEO of Downtown Denver Partnership and co-founder of Denver Startup Week. \u201cBefore this building, entrepreneurs didn\u2019t have a central space to meet up and receive mentorship.\u201d<\/p>\n\n\n\n

\"Reading<\/a><\/figure>\n\n\n\n

In addition, some of the fastest growing tech startups are hiring millennials, even if they don\u2019t necessarily have the exact experience that fits the job description. The idea is that companies like Ibotta are set on growing young people into their roles and providing opportunities to quickly move up the ranks.<\/p>\n\n\n\n

\u201cMost of my energy is focused on mentoring people on my team who are being promoted into leadership positions,\u201d says Luke Swanson, chief technology officer of Ibotta<\/a>, a cash-back app that launched in 2011. \u201cFrankly, for some people it\u2019s their first job out of school, and it\u2019s about showing them the ropes.\u201d<\/p>\n\n\n\n

And as capital is poured into the company left and right, Ibotta has raised $40 million Series C fundraising, moved into new offices, and hired hundreds of people.<\/p>\n\n\n\n

\u201cWe\u2019re hiring like crazy\u201360 net new employees in 2016,\u201d says Bryan Leach, founder and CEO of Ibotta. \u201cThe average age of our workforce is 28 to 29 and predominantly female. We\u2019re attracting people to Denver from places like Pittsburgh and Dallas.\u201d<\/p>\n\n\n\n

Another draw for millennials is the opportunity to give back to the community. A commonality among young entrepreneurs in Denver is they\u2019re choosing to be there, so they\u2019re going to make the most of their time by getting involved in the community.<\/p>\n\n\n\n

\u201cEverybody is doing something,\u201d says Herr, a millennial and serial entrepreneur. \u201cNone of my friends have a stereotypical career. They may work six jobs, but they don\u2019t work a 9-to-5. For instance, my friend and co-founder at Denver Grant Writers does grant writing, gives guitar lessons, and is on the board for a nonprofit and does research.\u201d<\/p>\n\n\n\n

So if you\u2019re a millennial and gun-shy about moving to Colorado, the barrier to entry has been removed. The startup community has paved the way for young people to come do what they love and be part of the vibrant community they\u2019ve always dreamed of. The only things left to do is quit your job, pack your bags, move to Denver and hit the slopes.<\/p>\n\n\n\n

Photo credits: The Commons on Champa, Tech.Co\/Flickr<\/p>\n","protected":false},"excerpt":{"rendered":"

Millennials are flocking to Denver in such large numbers that they have officially outpaced the baby boomers in the city\u2019s workforce\u2014and the city\u2019s robust startup scene has a lot to do with it. Last year there were about 176,458 millennials living in Denver, compared to about 99,095 baby boomers, according to the latest U.S. Census […]<\/p>\n","protected":false},"author":917,"featured_media":19074,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[43902],"tags":[],"class_list":["post-19045","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-professional-development"],"acf":[],"yoast_head":"\nWhy Millennials Are Moving To Denver | Ideas by We<\/title>\n<meta name=\"description\" content=\"Many young entrepreneurs are headed to Denver for the opportunity to find colleagues, secure funding, and build networking opportunities\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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