Colorado Springs Startup Week kicked off its packed schedule of networking, education and information with a rock star panel focused on the city’s unique sports infrastructure.
Entrepreneurs hoping to hitch their startup star to the rapidly developing sports economy attended “Why Sports Startups Will Thrive in Colorado Springs” at the Pikes Peak Market and were treated to the opportunity to hear from some of the industry’s top professionals.
Panelists included Andy Jackson, VIVOBAREFOOT angel investor, Scott Schnitzspahn, VP of elite athletics at USA Cycling, Gloria Winters, YMCA chief medical officer, and Suzanne Crespo, an attorney at Bryan Cave Leighton Paisner and member of the firm’s sports and entertainment group.
The hour-long session was moderated by Rachel Beisel, chief marketing officer and senior vice president at CableLabs and the founder of the Colorado Women’s Cycling Project.
The panel tackled a variety of topics on how sports startups can leverage the unique sport infrastructure in Colorado Springs to drive their growth and success.
Jackson addressed one of the key issues impacting startups — sustainability.
“Sustainability is key,” said Jackson. “If you are not doing something that is sustainable, you are already out of the game.”
Noting that many entrepreneurs struggle to be eco-conscious in the early phases of development, Jackson said that no matter the obstacles, it’s imperative to start green and stay green if a startup wants to achieve success. If materials are too expensive to source responsibly, Jackson said to look for partners and investors who will help make ethical production a priority.
Sustainability doesn’t just apply to materials, either. How products are made, packaged, delivered and used is equally important. In cities like Colorado Springs, where the outdoor spaces are key to both industry and quality of life, Jackson said it’s important to show that a business will be a good steward to the environment and the community.
Asked about harnessing some of the city’s Olympic assets for support, Schnitzspahn provided his insight into how to partner with some of the city’s 15,000 athletes to promote products and build brand equity.
“Think beyond logo placement and involve athletes in the development phase of your product,” said Schnitzspahn. “They’ll give you great feedback because they will actually use your product as it is intended.”
Schnitzspahn also pointed out that because a significant portion of the Olympic hopefuls who live and train in Colorado Springs live at or below the poverty level, there are excellent opportunities to secure affordable endorsements while also helping to support aspiring athletes in their careers. Schnitzspahn said athletes make great employees, too, with an ability to work during the off-season in their respective sports.
“There are lots of opportunities to align their goals with your goals,” said Schnitzspahn.
Crespo cautioned startups to do their due diligence in ensuring they are legally compliant when working with athletes who are involved in the Olympics.
“When you partner with an Olympic athlete, you are also partnering with their National Governing Body in terms of compliance and rules,” said Crespo.
She also offered advice on transparency in advertising, advising marketers to use caution in social media marketing and in their use of influencers. When in doubt, Crespo said that full disclosure is the key to avoiding fines or damaging partnerships.
“Always be intentional in what you are doing,” said Crespo.
Winters provided attendees with tips on how to leverage demographics and data to support the creation or development of a sports startup. She stressed the importance of examining community needs as part of a solid strategy, recommending that entrepreneurs lean on resources like El Paso County Public Health for solid data.
“Ask yourself, how can we take what we are already doing and apply it to an unmet need in the community,” said Winters.
One opportunity she sees in Colorado Springs is the need to improve and advance behavioral health and she said that the sports industry can directly impact that.
Asked what makes Colorado Springs the perfect place to launch a sports startup, all the panelists agreed that the quality of life was an enormous attraction for athletes and entrepreneurs alike. Also included in the city’s advantages were the high altitude for training, the trail system, the demographics, the focus on health and the highly supportive and inclusive startup ecosystem.
