DENVER — Organizers of Colorado Companies to Watch is accepting nominations for its class of 2016.

Now entering its eighth year, the program will honor 50 second-stage companies from across the state for developing valuable products and services, creating quality jobs, enriching communities and creating new industries.

Nominations are open until Jan. 31, while companies may apply directly through Feb. 19. The awards will be presented at a Gala Awards Dinner in June.

“Second-stage companies hold a unique place in our economy,” said Sean Nohavec, CCTW chairman and senior vice president of the program’s presenting sponsor, UMB Bank. “Through their leadership, innovation and growth, they ignite our communities with potential beyond measure.”

Each winner receives a year’s worth of benefits, including media attention and exposure, facilitated local celebrations with key members in their communities and exclusive access to a professional leadership retreat. Honorees also join an elite group of 350 alumni who meet and network throughout the year.

Business owners, associates, employees, or fans can nominate eligible businesses, and companies may also apply directly.

The award nomination and application forms are available online at ColoradoCompaniestoWatch.org. In 2015, the program received more than 1,000 nominations from which 50 winners were chosen.

To be considered for selection, the enterprise must meet the following for the year ending 2015:

• Be privately held (not publicly traded and not a subsidiary or division of another company).

• Be a commercial enterprise, not a nonprofit.

• Be past the startup stage.

• Be facing issues of growth, not survival.

• Employ six to 99 full-time equivalent W-2 employees, including the owner.

• Have between $750,000 and $50 million in annual revenue or working capital in place from investors or grants.

• Be headquartered in Colorado.

• Have not won this award in the past.

• Demonstrate the intent and capacity to grow based on evidence such as employee or sales growth, exceptional entrepreneurial leadership, sustainable competitive advantage or other notable factors that showcase the company’s success.

The program was launched in 2009 by the Colorado Office of Economic Development and International Trade, in conjunction with the Edward Lowe Foundation and community partners in the state.