RARE - RETAIN, ATTRACT, REBUILD, EXPAND
RARE is an innovative business support program for Rangely businesses and entrepreneurs. The program is divided into two sections, a Small Business Grant Program and a Pitch Competition.
RARE's Small Business Grant Program will provide grants up to $40,000 per business, with approximately 8 to 10 businesses funded, over a three year period. Grant funds can be utilized for new equipment or software that supports business growth, new product development, property expansion, marketing, to name a few. The full extent of approved funding is outlined in the Rules of Eligibility portion of the grant information.
The RARE Pitch Competition is a business competition that will take place once a year for a minimum of three years, beginning with the year 2025. The competition is organized by the Town of Rangely and a committee chosen from the RDA, which is Rangely’s Urban Development Agency. Prizes will be awarded for the Pitch Competition.
RARE is funded through a grant from OEDIT and Just Transition for community economic development.
RARE Pitch Competition
RARE’s Pitch Competition provides entrepreneurs and business start-ups with funding opportunities. Competitors will present business ideas to a panel of five (5) judges. The competition will focus on the ability to deliver a Pitch that attempts to persuade the judges in favor of a new product or service for the community of Rangely. Judges will engage with contestants and score each contestant based on the pitch presentation and any Q/A. Judge assessments are based on the realistic development of a product or service, research, customer viability, and traction. Cash and other prizes will be awarded to the top 3 contestants with first place presenting an award of $15,000, second place $10,000 and third place $5,000.
RARE’s Pitch Competition includes a partnership with the Business Department of Colorado Northwestern Community College (CNCC). CNCC will provide contestants, over a two-week period, instructions on writing a business plan to include marketing plans, business research and financial plans. Qualified contestants will be required to attend the classes, which will provide necessary knowledge and skills to aid in their success.
Pitch Competition Information
RARE Business Support Program
The Small Business Support Program is an innovative, 3-year strategic program, designed by the RDA, to facilitate sustainability and expansion of existing businesses in the Town of Rangely. The program embodies strategies outlined in the Town’s economic action plan.
The grant program was created to incentivize businesses and entrepreneurs via grant funding. Grants up to $40,000 are available for 8 to 10 businesses over a 3 year period.
RARE's business support program also provides technical assistance to existing businesses for retention, rebuilding, sustainability and expansion purposes with a goal of creating economic resiliency.
Five (5) Board Members, appointed and approved by the RDA, will review each application and render a decision on the application.