Ballet San Jose has just one week to raise $550,000 to keep its doors open, according to an Ballet San Jose press release.

In January, the company decided that there was a need of $3.5 million by October to ensure that the company can face a financially stable future.  Since January, the company has received half a million dollars to fund company operations but without the immediate additional funds, the company stated that it will no longer to be able to fund its current programs.

The company’s campaign, “Bridge the Future,” which started in 2013, is a push to change its business model to be more fitting to the technologically sound and fast-paced culture of Silicon Valley. In a report by Metro Newspaper, Allan Hineline, CEO of the Ballet San Jose, said losing the company would be a blow to ┬áthe creative expression of the area.

The company is the second largest ballet company in California with 32 professional dancers.

Without this emergency fundraising campaign, its recent endeavors to boost the financial stability of the company with Jose Manuel Carreno as its artistic director will have been in vain.

“I’ve danced all over the world, but I came here because I fell in love with the company, the dances and the school,” Carreno stated.

If fundraising efforts are successful, the company plans to re-launch with a new name, Silicon Valley Ballet, in September rather than San Jose Ballet in an effort to incorporated the greater Silicon Valley area.