| Name | Christine |
|---|---|
| Last Name | DiPietro |
| Home Address | 1015 Brynewood Ter Chattanooga, TN 37415 United States |
| Organization Name | The Company Lab |
| Describe Your Role In The Organization | As Director of Programs, Christine leads all CO.LAB programming, including planning curriculum, recruiting companies, and managing the day-to-day of the Outdoor Recreation Accelerator. |
| Organization Address | 1100 Market St #100 Chattanooga, TN 37402 United States |
| Website | https://www.colab.co |
| Best Phone Number To Reach You | 336-978-4140 |
| Alternate Phone Number | |
| Email Address | christine@colab.co |
| Alternate Email Address | info@colab.co |
| Please Describe Your Project In Detail | CO.LAB’s Outdoor Recreation accelerator is a 12-week accelerator program that elevates Chattanooga’s travel industry and creates a resilient outdoor recreation ecosystem. The accelerator program will build on Chattanooga’s history of change from the most polluted city to the best outdoors city in the United States by providing a combination of curriculum and services that would otherwise be costly for entrepreneurs to receive. The Outdoor Recreation Accelerator program will support 9 - 12 companies, whose products and services focus on outdoor recreation and conservation. The accelerator is a mentorship-based program, connecting founders with experienced professionals, whose expertise would not be commonly available, to founders, especially non-traditional founders and those from disadvantaged groups. In coordination with one-on-one sessions with over 50 professional mentors, the Outdoor Recreation Accelerator will focus on the future of the outdoor recreation industry, helping companies be more resilient. Outdoor recreation became more visibly diverse as a result of the COVID-19 pandemic, with more companies and organizations starting that focused on supporting people of color in the outdoors. Sessions include: product road map, building a financial model, environmental resilience, procuring capital, product-market-fit, and selling to your customers. |
| Please explain how your project meets the requirements of the American Rescue Plan | CO.LAB’s Outdoor Recreation accelerator addresses the negative economic impacts caused by the public health emergency. The interim final rule from the U.S. Department of Treasury, Sections 602(c)(1)(A) and 603(c)(1)(A), recognize that certain industries, such as tourism, travel, and hospitality, were disproportionately and negatively impacted by the COVID-19 public health emergency. On page (26,795) the rules note, “Aid may be considered responsive to the negative economic impacts of the pandemic if it supports businesses, attractions, business districts, and Tribal development districts operating prior to the pandemic and affected by required closures and other efforts to contain the pandemic.” CO.LAB’s Outdoor Recreation Accelerator strengthens the tourism and travel industry in Chattanooga focused on Outdoor Recreation in order to create resiliency and mitigate the effects of the pandemic. During the Outdoor Accelerator program, CO.LAB will introduce founders and companies to Chattanooga’s diverse outdoor recreation options, bringing new business opportunities for existing Chattanooga businesses across all sectors. Chattanooga is joining Tennessee RiverLine,a partnership that promotes paddling and other recreation activities across the Tennessee River. With $2.1 million from The University of Tennessee and $1.2 million for Tennessee Valley Authority over the next three years, RiverLine encourages outdoor recreation activities such as paddling to draw visitors and new residents, while promoting more recreation and ecotourism. CO.LAB’s Outdoor Recreation Accelerator will complement and grow Chattanooga’s Outdoor Recreation industry and create more jobs in the sector. Studies show that attending an accelerator increases startup survival, employee growth and the ability to raise capital. Entrepreneurial activity is important for economic growth. An Outdoor Recreation Accelerator in Chattanooga bolsters the entire community through new job opportunities and by attracting investors to the community. When visiting Chattanooga, investors will also use the opportunity to learn about businesses not currently in the accelerator but may be ripe for investment. CO.LAB has a proven track record working with communities that are disproportionately affected by the COVID-19 health crisis. Since 2016, CO.LAB has been committed to supporting non-traditional business owners, with 43% of founders not white and 57% female. More recently, the Company Lab has increased our commitment to diversity. In 2020, 65% of CO.LAB founders were female and 53% were not white. In 2021, 81% of CO.LAB founders were female, and 53% not white. CO.LAB remains committed to diversity in all of our projects and programming. |
| Where would your project take place? | Chattanooga, TN, with events at: CO.LAB’s offices, The Edney Building Reflection Riding Arboretum & Nature Center, Adventure Sports Innovation, and Audubon Acres and Maclellan Island, among others. |
| How much will your project cost in total? | 67500 |
| Do you have any matching funding sources from other local governments, private entities, non-profits, or philanthropic entities for your project? | No |
| Please describe the source and list amounts of any other funding. | |
| What portion of the project are you asking the city to fund? | |
| If funded, when would your project start? | April 1, 2022 |
| How long would your project take to complete? | 3 months |
| What milestones would you use to measure your project’s progress? | 10 companies in program 50+ mentors engaged to support accelerator program $150K in revenue generated by companies in first 6 months after program Follow on funding secured for years 2, 3, and beyond |
| How would you ensure accountability and transparency throughout the project lifecycle? | CO.LAB works closely with the entire Chattanooga entrepreneurial community. CO.LAB reports to foundations, Launch TN, and the City of Chattanooga on our progress. CO.LAB will measure program metrics and individual company metrics to track progress. |
| If successful, how would your project benefit the community? | Climbing alone has brought $7 million to Hamilton County in one year. Ironman has a $100 million impact over 5 years. Head of the Hooch rowing event has an annual economic impact of $5.5 million. Chattanooga startup RootsRated raised $3 million in venture dollars, then sold to Uncle Dan’s Outfitters. Chattanooga’s Outdoor Recreation industry is ripe for leadership focused on how to best integrate businesses with the outdoor industry. CO.LAB’s Outdoor Recreation Accelerator will benefit the community by elevating new, diverse leaders in the outdoor recreation space and attracting new leaders. |
| How will you attract community buy-in for your project? | CO.LAB has close relationships with the outdoor recreation and entrepreneurship communities in Chattanooga. We had several outdoor companies apply to Will This FLOAT? looking for opportunities to receive CO.LAB’s programming and business support. |
| Is there anything else you would like us to know about your project? | CO.LAB is requesting ARP funding for 1 year of the Outdoor Recreation Accelerator. After year 1 and proven results, CO.LAB will leverage our successes to fund the accelerator in year 2, 3, and beyond. |