Two Durango entrepreneurs with big ideas have seen their visions come to life – with a little bit of guidance.
Southwest Colorado Accelerator Program for Entrepreneurs has given businessmen Tristan Rubadeau and Ilan Paltrow each a golden ticket to kickoff their business innovations. After being the first two companies accepted into the program known as SCAPE, they’ve managed to make it past the halfway point of their ventures.
Rubadeau and Paltrow gushed about the progress they’ve seen thus far.
“I’m a first-time entrepreneur so I don’t really have a playbook per se,” Rubadeau said. “They are kind of giving me their cheat sheet, really.”
SCAPE is a nonprofit program made up of local entrepreneurs and investors who provide funding and resources to startup business owners in a variety of industries.
The group helped Rubadeau launch his recurring credit-card billing company and Paltrow with his website that helps customers locate low-priced bikes within a geographical area.
The businessmen entered the program at different stages in their startups, but both hit the ground running with equal ambition once they had the opportunity and proper guidance. Each received $30,000 in cash and in-kind services from SCAPE.
Rubadeau, who graduated from the Fort Lewis College school of business in 2012, started his career working for Mercury, a credit-card processing company. After familiarizing himself with the credit-card business, he felt the company was missing a key component, and from there, an idea sparked – the creation of ReBill.
ReBill was designed to simplify people’s recurring payments for online accounts. Rubadeau wanted a simpler, cheaper alternative to QuickBooks, the primary online recurring payment processor used by companies, he said.
Gary Masner, one of the founding members of SCAPE, saw potential in Rubadeau’s idea and was inspired by his drive. He saw ReBill as becoming a profitable adjunct to Mercury.
“They are going to work with Mercury and develop this,” he said. “And be able to go out and reach a lot of customers and make their lives easier in terms of being able to automate this recurring billing process.”
Rubadeau has always wanted to run his own business.
“I figured out at a really young age that I didn’t really ever want to work for anybody else,” he said.
Rubadeau knew that in order to become an expert in his industry he would have to begin by working for a company, but eventually he would be able to find the gaps and make his mark, he said.
ReBill is currently in software development mode. Rubadeau is aiming for launch date of Nov. 1.
Paltrow, by contrast, had a slight upper hand with his company. With careful planning and more to work with, he wasn’t starting from scratch.
His company, CloseoutBike, is similar to what consumers would imagine as an eBay of bicycles, but with one advantage – you can use a zip code to locate the lowest priced bikes sold in nearby shops.
“I like helping people,” he said. “And for so many years, people have called me and said, ‘Hey, I need a bike, help me get this bicycle.’ This is my avenue to do this on a national basis.”
Having been in the bicycle-sales business for a number of years and an avid cyclist himself, Paltrow wanted to expand his expertise into a nationwide network. Paltrow didn’t want to be bound to a single location, he said. He wanted to be able to run a successful business and have plenty of time to bike around Italy.
He had a plan from the beginning and started by buying various domain names related to bicycles. He just needed some structure. Paltrow believes that he could have developed the company on his own, but was thankful for the mentors who taught him the skills to reroute his path to accelerate his business.
Paltrow said he’s grown as a person because of his mentors.
“It’s just been amazing how much I’ve learned,” he said. “This is like the MBA (Master of Business Administration degree) of business startups that they are paying for me to get.”
The SCAPE founders, who heavily participate in the development of these companies, are made up of various groups of “startup savvy” mentor-investors from a wide range of career backgrounds. Essentially, they form the core of the program and provide extensive support and expertise, Masner said.
Bill Smith, a lead mentor, has helped spawn new ideas within the mentoring process. With a background in computer science, his bread and butter is helping entrepreneurs develop their startup websites.
When Smith heard about the opportunity to participate with SCAPE, he said he knew he had to jump on board.
Smith primarily works with Paltrow and has guided him through the development of his online business.
“He’s been very open to this,” Smith said. “Not all entrepreneurs want to have their dreams – their big idea scrutinized. To become an entrepreneur, you’ve got to have so much confidence in it already.”
The mentors feed on the gratitude and the learning experience that comes with each new startup. They receive no financial compensation.
Along with the support of various sponsors such as Region 9 Economic Development District, a state-funded startup grant, local banks and other local investors, SCAPE hopes to continue receiving community funding in an effort to help other local entrepreneurs jump-start their business.
Masner said SCAPE will accept only applicants who are willing to headquarter their businesses in Southwest Colorado. If the applicant is applying from elsewhere but is willing to move to the area, he or she will be considered for the program. Part of developing businesses and helping these local entrepreneurs is to create more jobs in the region and bring money into the economy, he said.
The end of the program for Rubadeau and Paltrow – or “graduation” as Masner calls it – is set for Nov. 4. Both business owners will ultimately pitch their ideas to a group of potential investors.
vguthrie@durangoherald.com
Accelerator program seeks entrepreneurs
The Southwest Colorado Accelerator Program for Entrepreneurs is accepting applications for the next group of candidates.
Finalists will receive up to $30,000 in equity capital, along with free office space and discounted business services. They also will receive mentorship. At the end of the four-month program, there will be a presentation given by finalists to potential follow-on investors.
Applications are available at www.goscape.org. Applicants also will be asked to submit a short video. Application deadline is mid-November. The second program will kick off in mid-January.
