Amplifying stories from the Rochester, MN entrepreneurial ecosystem.
CO.STARTER Q&A
Take a moment to get to know one of our recent CO.STARTERS participants, Denise!
Q: What is your business or idea?
A: A social enterprise that provides ongoing age-appropriate prevention education on drugs and addiction to parents and their school-aged children. Passionate people living in recovery would help develop the education material, provide mentoring services, and produce exclusive artwork apparel for customers who wish to spread the word about our work visually (or just enjoy local wearable art). All artwork will be created by adults and children impacted by addiction, telling their stories of heartache and hope. This dual-impact model will not only provide essential education and opportunities for parents of school-aged children to connect - it will also provide economic opportunities and creative outlets for those rebuilding their lives after addiction.
Q: What do you hope to learn/get out of the CO.STARTERS program?
A: I'm in the startup phase and stuck, so I hope to learn how to figure out my next steps. I don't know what I don't know, so I hope to learn a lot from the facilitators and other participants' ideas and approaches that will help me grow my business effectively and impactfully, in the right direction, so that it will be sustainable.
Q: What is your motivation for pursuing your business idea?
A: I believe youth are at an ever-increasing risk of addiction and overdose because of the growing mental health crisis, social media pressures, and prevalence of dangerous street drugs in our community - and the county. Many people with lived experience of addiction are turning their lives around and have a passion for helping youth avoid the road they traveled. I am passionate about creating meaningful connections between the right people to help address this problem as a community.
Q: What is a fun fact about you?
A: I am an electrical engineer who worked at IBM for 28 years and then operated a custom cabinetry business with my husband for 8 years. I love camping, reading, exercising, TobyMac, and investing time with our kids and grandkids. I grew up in the Detroit area but have lived in Rochester for 35 years, so I call Rochester home. I thrive on change and solving real problems, and I love connecting with people - especially on topics that aren't commonly discussed.
Collider to Host Demo Day for Community Incubator Graduates
Collider Foundation is excited to announce that we are hosting a demo day to celebrate the four graduates of our second cohort of the Collider Community Incubator, a twelve-week program which helps participants refine their business model into a viable product or service, enhancing their idea’s potential with dedicated workshops, mentorship, networking, and support to advance their business visibility and connections.
This cohort began in September of this year with five participants, each with innovative business ideas which they have developed over the past twelve weeks through a series of in-depth educational workshops, mentorship from experienced business owners, and cohort-based support. These individuals are pursuing businesses over a wide range of industries, from automotive assessment tools to specialized food manufacturing.
The Collider Community Incubator Demo Day will take place on Thursday, December 12th at Collider’s space in the Minnesota BioBusiness Center from 9:30AM-11AM. This event will be an opportunity for program graduates to showcase their products or services and celebrate the end of their journey within the incubator. Opening remarks will be given by Nate Nordstrom, our Entrepreneur in Residence. Nate’s entrepreneurial journey started with a curbside stand at age five and has grown into multiple ventures, including BrandHoot and New Spin Bicycle Shop.
We encourage the community to come and learn more about emerging entrepreneurship and support these innovators as they take these important next steps. Interested individuals can learn more and register for the event here.
Collider Foundation believes that the support, education, and growth of our entrepreneurial ecosystem is a pathway to a more prosperous and inclusive future for the Rochester community. We are excited to have had the opportunity to fulfill our mission through the Collider Community Incubator Program and offer assistance to local entrepreneurs through this cohort.
The Collider Community Incubator is supported by MN Department of Employment and Economic Development (DEED), Altra Federal Credit Union, Southeast Minnesota Initiative Foundation (SMIF), First Alliance Foundation, and Otto Bremer Trust.
For additional information contact Amanda Leightner at amanda@collider.mn or call (507) 722-0306.
Community, Partnerships, and Creative Financing
Observations from Grassroots Growth: Exploring Rochester’s Entrepreneurial Landscape Event
Collider Foundation, as part of its Grassroots Growth: Exploring Rochester’s Entrepreneurial Landscape event, held a series of engagement stations that featured in-depth discussions with entrepreneurs about topics relevant to growing or scaling a business in Rochester. More than 60 community leaders, funders, civic leaders, and entrepreneurs participated in these stations, and the following observations represent the major themes and insights to emerge from these highly engaging conversations.
These observations lend additional perspective to the entrepreneurial ecosystem building work of Collider and other organizations in the Rochester area. Ultimately, these insights can help us keep the entrepreneur - and their needs and perspectives - at the center of all that we do to support a thriving startup and small business economy in Southeast Minnesota.
Observation #1: Entrepreneurs face barriers to understanding and accessing appropriate funding options.
There is a general misunderstanding of financing and difficulty in identifying the right stage for funding. Fear of debt, the complexity of navigating multiple funding sources, and the need for better financial education highlight a gap in financial literacy and resource accessibility.
Observation #2: The community should explore expanding nontraditional funding options and better leverage networks.
There is growing interest in creative financial solutions like seller financing, equity agreements, and braiding funding from various sources. Mentorship and leveraging community connections are essential for helping entrepreneurs access and understand nontraditional funding streams like grants and government programs.
Observation #3: Improved communication and welcoming programs are key to fostering an inclusive entrepreneurial ecosystem.
Entrepreneurs struggle with isolation and a lack of awareness of available resources. There is a call for better communication and coordination between organizations, hosting more ecosystem events, and creating support groups that improve connectivity, access to resources, and a sense of community, particularly for non-biotech sectors and brick-and-mortar businesses.
Maintaining Momentum: How Can You Support the Ecosystem?
Shop local. Shift your buying habits to a community centered focus.
Serve as a connector. Take time to mentor a new entrepreneur or point them toward a local resource.
Engage. Attend community events such as Collider’s Coffee with Creators or free days of coworking.
Own your role. Take an ecosystem-wide view of how you show up within the community and fully play that part.
Stay in the Loop. Subscribe to our newsletter to stay informed about the entrepreneurial landscape and how you can continue to engaged.
A special thanks to our Premier Event partner Destination Medical Center, Engagement Station Sponsors Merchants Bank, Minnesota Energy Resources and the Southern Minnesota Initiative Foundation, and our food sponsor People's Food Coop for helping to make this event happen.
Collider Foundation to Host Grassroots Growth: Exploring Rochester’s Entrepreneurial Landscape Event
Collider Foundation is pleased to announce that it will host Grassroots Growth: Exploring Rochester’s Entrepreneurial Landscape event on Tuesday, October 1st to discuss key economic and community insights from local leaders and engage in brainstorming activities around the strengths and gaps in the local business ecosystem.
This event will take place at Collider’s offices in the Minnesota BioBusiness Center from 5-7PM and include a keynote address from Neela Mollgaard, Executive Director of the Minnesota Department of Employment and Economic Development’s Office of Small Business and Innovation, remarks from Patrick Seeb, Executive Director of Destination Medical Center and Collider Foundation board member, a chance to hear from local business owners about specific topics related to entrepreneurs and ecosystem building at engagement stations, opportunities for networking with local community leaders, an award presentation, and light refreshments.
Collider is committed to activating, connecting, and inspiring Rochester based entrepreneurs. Over the past five years of being a community-driven nonprofit, we have had the unique opportunity to listen to and learn from the struggles and successes of local starters. As we have gathered knowledge and feedback to better understand and serve our entrepreneurial community, we have gained insights on what motivates individuals to start businesses, what factors are necessary for them to thrive, the biggest challenges they are facing, and how to best contribute to their success in the earliest stages of growth and development. We look forward to sharing these insights with the community through this event.
Thank you to our Premier Event partner Destination Medical Center, Engagement Station Sponsors Merchants Bank, Minnesota Energy Resources and the Southern Minnesota Initiative Foundation, and our food sponsor People's Food Coop for helping to make this event happen.
This is an evening you won't want to miss to engage with your community and have the chance to make an impact on the future of entrepreneurship. Individuals interested in attending this event can register here.
If you have any questions about Collider or our work within the community, please contact Amanda Leightner at amanda@collider.mn or call (507) 722-0306.
