Downtown Denver's explosive growth expected to continue for next 5 years

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The largest entrepreneurial event in the United States is officially underway. Yup, you heard that right, Denver Startup Week is huge.

"When we started Denver Startup Week three years ago we had no idea it would become this big, this fast,” Erik Mitisek, CEO of the Colorado Technology Association said. “Now, as the largest free entrepreneurial event in the United States, it is a reflection of the zeal, energy and broad based startup phenomenon in Denver."

For anybody who works at a startup in Denver, it’ll come as no surprise to hear that the entrepreneurial scene is growing rapidly. According to a study released today from the Downtown Denver Partnership, over 600 startups now call downtown Denver home. Those startups employ over 4,300 people, and account for about 8 percent of all of the businesses in Denver’s central business district.

“The entrepreneurial energy in downtown Denver is palpable, and it’s clear that we are building a culture of innovation and entrepreneurship that makes the city center the absolute best place to start and grow a business,” Tami Door, president and CEO of the Downtown Denver Partnership, said in a statement.

Downtown Denver has seen an explosion of startup growth over the last couple of years. Of the startups that call the area home, 153 of them were founded in 2014.

And as young as many of Denver’s startups are, they are not short on venture capital. In the last year, 42 startups have raised over $400 million in new funding. That’s an increase of 70 percent since 2013.

What’s more, the growth doesn’t appear to be slowing anytime soon. The study notes that downtown Denver is expected to outpace the national average for growth by four times for at least the next five years.

"Denver is on a rocket-ride and Startup Week is but one more reason that the city is the best place to live, work and play in the United States," Mitisek said.

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