Exponential Impact outlines local entrepreneur supports, low‑interest loan program and accelerator results

Exponential Impact, a local nonprofit that runs a tech accelerator and small‑business programs, briefed the Colorado Springs City Council on services for entrepreneurs, internship placements and loan terms available to El Paso County small businesses.

The organization’s presenter described two core programs: Xi Accelerator for tech and innovation businesses and the Survive & Thrive program for small businesses in El Paso County. He summarized program goals and recent metrics and said the accelerator has helped founders raise private investment and restart stalled companies.

Why it matters: Exponential Impact’s programs aim to keep startups and small businesses in Colorado Springs, provide mentors and channel private capital to local firms. Council members flagged internships and mental‑health support for entrepreneurs as locally relevant after the presentation.

Presenter remarks and program design Presenter, Exponential Impact said the group’s “mission is to develop the best entrepreneurs humanly possible,” and described a holistic approach that pairs founders with one‑to‑one mentors and regular community events such as pitch nights, VetNet and 1,000‑Cups sessions. He said the Xi Accelerator supports both pre‑customer founders and post‑customer scale programs, and that the organization operates a coworking space on North Nevada that is currently subsidized for local tech entrepreneurs.

Loan program and business support The presenter said the Survive & Thrive small‑business program offers loans up to $50,000. Loan terms include 0% interest if paid within the first year and then 2–4% in subsequent years. The program combines that capital with an eight‑week curriculum, mentor pods and wraparound services tailored to business needs.

Council reaction and local partnerships Council member Tallarico, who said her business received pandemic aid through Exponential Impact, praised the program and noted she repaid the loan at 0% interest. Council member Line Weber emphasized the social and mental‑health benefits of group programming for entrepreneurs and asked whether the group intentionally designs social supports; the presenter answered that weekly gatherings and alumni events are a deliberate part of programming and that the organization plans to expand workshops and alumni engagement this year.

Metrics presented The presenter provided headline results the organization tracks: the tech accelerator’s portfolio has attracted about $60 million in investment and produced close to $100 million in revenue overall, with roughly 71 new jobs created across accelerator companies. Survive & Thrive has distributed about $5.7 million in loans since inception, including a COVID response tranche of 32 loans. He cited specific alumni outcomes including one company that raised more than $4 million in private funding after program participation and another that grew monthly revenue by about $100,000.

Internships and community ties The presenter said most interns come from Colorado College and the University of Colorado Colorado Springs; most are sophomores or juniors and many remain for a year or more. He named staff and volunteers involved in programming, including Rachel Maxwell and Cora Lasky, and noted one intern who had been hired by an alumnus company.

What the city can expect next Exponential Impact said it will continue monthly pitch nights, mentor programming and cohort accelerator work. The presenter said the group seeks to scale its mentorship and alumni programming in the coming year to increase retention of founders in Colorado Springs.

Ending Council members thanked the presenter and several invited Exponential Impact to share materials or host councilmembers at the North Nevada coworking space.