Advanced Industries grants totaling nearly $2M awarded to 15 recipients in latest funding round

By: InnovatioNews Friday March 14, 2014 0 comments Tags: BASiC 3C, Biota Technology, CSU Ventures, Denver, EcoVapor, FitBionic, Red Canyon Software, UC-Boulder

DENVER - Gov. John Hickenlooper and the Colorado Office of Economic Development and International Trade on Thursday announced $1,889,972 in Advanced Industry Accelerator Grant Program awards.

The awards were for both Proof-of-Concept and Early-Stage Capital and Retention Grants to support key industries in the state.

Proof-of-Concept grants went to:

• University of Colorado-Boulder--$150,000 for one project


• Colorado School of Mines--Total of $110,000 for four projects


• Colorado State University/CSU Ventures--Total of $399,972 for five projects

Early-Stage Capital and Retention Grants were awarded to:

• BASiC 3C, Boulder, $250,000


• Biota Technology, Denver, $250,000


• EcoVapor, Greeley, $250,000


• Fitbionic Inc., Idaho Springs, $250,000


• Red Canyon Software, Denver, $250,000

"Regardless of the industry, businesses must innovate or they die," Hickenlooper said. "This is not a new reality, but in today's technologically-driven world, it's a reality that has become more and more apparent.

"Colorado has a robust private sector filled with brilliant minds leading the way. Whenever possible, we will be a partner. With this Advanced Industry Accelerator Program, we are growing Colorado's innovative, collaborative business ecosystem and building a trained workforce. The grants will help entrepreneurial companies to compete globally, encourage faster commercialization of technologies and create Colorado jobs."

The Advanced Accelerator Program received a total of 58 applications in the latest funding round for $13.1 million. Applications for the next funding cycle are due April 1.