XI Survive & Thrive

Geographic Scope: Colorado Springs and El Paso County, Colorado

Program Type: Business recovery and growth support program

Program Origin & Evolution

• Emerged in March 2020 as rapid response to COVID-19 pandemic
• Evolved to address ongoing needs of small business community
• Continues to support businesses struggling with economic challenges

Program Focus

• Support for businesses affected by economic hardship
• Emphasis on underrepresented founders disproportionately affected by pandemic
• Early responder model for businesses facing immediate needs

Core Components

• Community: Connection and networking
• Capacity Building: Business development and training
• Access to Capital: Funding and financial support

Support Services

• Eight-week programming and curriculum
• Expert business sessions
• Mentor workshops
• Financial foundation development
• Business planning and strategy
• Visibility and storytelling support

Funding History

• Survive and Thrive: Propel COS (2022): $1.2 million awarded to 53 local businesses
  • Grants up to $50,000
  • Average grant size: $22,650
  • Funded through City of Colorado Springs American Rescue Plan Act (ARPA) allocation
  • Received over 250 applications
  • Recipients located throughout Colorado Springs (19 zip codes)
  • Industries served: hospitality, retail, personal service, manufacturing
• Club Q Tragedy Relief Fund (2022): $40,750 fund
  • Partnership with Colorado Springs Chamber & EDC and Colorado Office of Economic Development & International Trade
  • For businesses affected by November 19, 2022 Club Q shooting
  • Grants awarded in $5,000 increments
  • Independent volunteer business leaders review applications
• U.S. Economic Development Administration Grant (2023): $400,000 Economic Adjustment Assistance grant
  • Matched by $74,650 in local investment
  • Supports program advancement for economic recovery
  • Previous iterations achieved: $2.3 million in loans resulting in $156 million ROI and 220 jobs supported

Contact & More Information

Mission: Support small business recovery and resilience while building equitable outcomes for underrepresented entrepreneurs

Application Process

1. Overview: Multi-phase review process
2. Assistance Available: In-person application assistance sessions offered
3. Submission: Applications submitted through program website
4. Review: Applications reviewed by independent volunteer business leaders
5. Selection Criteria: Demonstrated need, business viability, alignment with program goals

In-Person Application Support

• Scheduled application assistance sessions available
• Guidance on strengthening applications
• Questions and concerns addressed
• Located at Exponential Impact HQ or online

Note: Specific required forms, narrative questions, and detailed application materials not provided in source materials