Exponential Impact’s COVID-19 Response
As our local, national, and global communities adjust and make changes during the COVID-19 crisis, the team at XI wanted to share how the timelines of our programs are affected, and what we are doing to best support the various parts of our ecosystem. While we shift our regular program schedule, we are dedicating our time and efforts to support our local economy. Please stay tuned on this blog and on social media for additional updates as we roll out initiatives.
The 2020 XI Accelerator.
Due to the statewide stay-at-home orders taking place, XI will be postponing the 2020 XI Accelerator. For the safety and accessibility of our participants traveling to Colorado, we want to make sure that we could host a full program on-site. This includes our annual Launch Camp, which is a crucial part of XI deciding on teams, and founders determining if XI is the best fit for them. In addition, we will be re-opening our applications in June for teams that would like to apply given the new program dates.
Here is our updated timeline:
- April 15: Send our first wave of invitations to Launch Camp. Teams selected will be invited to virtual programming to make up for the shortened Accelerator program.
- June 1: Reopen applications to the 2020 XI Accelerator for a second round of selection.
- July 1: Applications close and the XI Team reviews the second wave of teams.
- August 10-13: Launch Camp at Bear Trap Ranch
- September 8: Kickoff party at the XI Venture Space
- September 9-November 16: Ten weeks of programming at the XI Venture Space.
- November 17: Demo Day at the Broadmoor
The Amplify Program.
We will be extending our Amplify Program through the summer in order to best-support the teams in our current cohort. COVID-19 is causing many key changes to the business models and landscape, requiring startups to pivot and make changes to their roadmaps, we will be here to offer support during that time. We are bringing on an Entrepreneur in Residence and several interns to offer direct support to the teams while maintaining regular virtual programming.
Survive & Thrive COS
As of March 30, Survive & Thrive COS provides recovery funding, mentoring and other resources to increase the sustainability and future growth of small businesses based in the Pikes Peak region. Survive & Thrive COS provides recovery funding in the form of low-interest loans of up to $25,000, mentorship, and other resources to support resiliency and continue building healthy businesses. Exponential Impact, in partnership with the Pikes Peak Community Foundation, and various other community partners, businesses, and local investors have teamed up to offer immediate relief services. Additional criteria to apply, as well as opportunities to invest, can be found below.
What can I do now?
We are encouraging everyone in our community to stay up to date on guidelines and responses from the CDC and the government, and this includes engaging with working from home, practicing social distancing, and following stay at home guidelines. XI encourages other ways of providing community support, such as supporting local businesses (link to support the springs) affected by the shutdowns. In addition, we encourage everyone to engage in personal wellbeing practices that allow them to stay healthy and supported as we work through this together. In the coming weeks, we will be posting daily wellness practices on our social media platforms in the hopes of creating a healthy, mindful, and connected community in these times. Be sure to participate and share your favorite activities for a chance to win a gift card to a local Colorado Springs restaurant currently offering takeout.