Technology hub and startup incubator 20Fathoms is on the hunt for a new executive director after current leader Andy Cole announced he will step down at the end of 2019.

20Fathoms, located in the 101 North Park Street building in downtown Traverse City, launched under Cole’s leadership in mid-2018. Since then, the organization has hosted and supported 70-plus entrepreneurs and innovators representing 30 startups, “graduated” three startups, landed a federal grant totaling $1.5 million to expand operations, and hosted 90 educational programs. The company also "operated a physical environment that led to the creation of over 100 high-value jobs, 40 of which are local and earn an average salary of $90,000 annually," according to a 20Fathoms release.

“In launching and establishing 20Fathoms, I feel as though my skill set was uniquely positioned to help the organization fulfill its mission to create a thriving and connected startup ecosystem in Traverse City,” said Cole in a statement. “In the last two years, 20Fathoms has achieved a level of success such that a different set of skills and experiences are now required to continue its upward trajectory. Our last year of growth was unprecedented and was recognized on a national level. We’re now in a strong position to attract a special leader that can take us even further, and I’m proud to have helped get us to where we are.”

Board member Casey Cowell says “20Fathoms and our greater Traverse City area are extremely fortunate to have had Andy at the helm during our launch and startup phase...we are already transforming our regional economy in the direction of year-round, long-term, high-value creating enterprises, and we look forward to amplifying this trend in years to come.”