State awards $5.2M in Advanced Industries grants to 24 Colorado startups

Friday November 22, 2019 0 comments Tags: Denver, OEDIT, Advanced Industries Accelerator Grants

DENVER -- A Colorado company with the transformative technology behind a revolutionary prosthetic socket design that provides easier application and release is among 24 Colorado startups approved for funding as part of the Colorado Office of Economic Development and International Trade (OEDIT)’s Advanced Industries Accelerator Grant Program.

A total of $5,214,528 Proof-of-Concept and Early Stage Capital and Retention Grants that fuel the growth of Colorado’s advanced industries were awarded in this reporting cycle.OEDIT_logoUSE 

“Funding such a diverse cross-section of innovative Colorado companies continues to advance Colorado’s key industries and solidify our state’s reputation as an innovation incubator,” said senior manager of Advanced Industries Katie Woslager.

“Innovation drives economic growth, and these grants directly support Colorado’s vital innovation ecosystem.”

Twenty-four Colorado companies were approved to receive Proof-of-Concept and Early Stage Capital and Retention grants (see list below).

Proof-of-Concept grants are open to Colorado research universities, federal labs located in Colorado and other labs with valid technology transfer offices for pre-commercialization research and commercialization preparation.

Early Stage Capital and Retention grants fund companies commercializing innovative technologies to create viable products that meet a market need and can be created or manufactured in Colorado and exported globally.

One Colorado company -- Copper Labs -- successfully met all of its performance milestones and was approved for $100,000 of second round or “transition” funding.

Colorado State University funded four additional projects for $258,964 and National Jewish Health funded three projects for $59,274 as part of their annual allocation given to approved Technology Transfer Offices for Proof of Concept funding.  

The AI Accelerator Grant program received 60 applications during the current application cycle. Applications were reviewed by committees of business, technical and financial experts, as well as an industry-specific reviewer.

Twenty-three companies were invited to participate in a November pitch session with the full AI committee. Final recommendations were approved by the Economic Development Commission on Nov. 21.

The next application cycle for Proof-of-Concept and Early Stage Capital and Retention Grants will open on Jan. 2 with corresponding applications due March 2.

The Advanced Industries Accelerator Programs (AIA) were created in 2013 to promote growth and sustainability in Colorado’s advanced industries by driving innovation, accelerating commercialization, encouraging public-private partnerships, increasing access to early-stage capital and creating a strong infrastructure to increase the state’s capacity to be globally competitive.

AIA encompasses three distinct grant programs: Proof of Concept, Early Stage Capital and Retention, and Collaborative Infrastructure.

This round of Proof-of-Concept and Early Stage Capital and Retention Grants includes:

  • First Ascent Coffee Roasters, LLC -- Crested Butte, $250,000 
  • Impact CBS, Inc. -- Durango, $250,000 
  • LongPath Technologies -- Boulder, $250,000 - 
  • New Iridium, LLC -- Boulder, $250,000 
  • Quorum Prosthetics- Windsor, $248,000 - 
  • RCAM Technologies -- Boulder, $250,000 
  • Skyland Analytics, Inc. -- Niwot, $250,000.
  • SmartForce Technologies, Inc. -- Greenwood Village, $175,000 
  • Unmanned Experts, Inc. -- Denver, $120,000 
  • Artimus Robotics, Inc. -- Boulder, $250,000 
  • Barn Owl Tech, Inc. -- Colorado Springs, $240,000 
  • Brava Diagnostics -- Boulder, $250,000 
  • Career Allies -- Fort Collins, $53,750 
  • Earable , Inc. -- Boulder, $250,000 
  • Emergy, LLC. -- Boulder, $250,000 
  • BioLoomics, LLC -- Boulder, $240,000
  • STAQ Pharma -- Denver, $250,000
  • Transverse Medical, Inc. -- Golden, $250,000
  • Watchmaker Genomics -- Boulder, $250,000
  • University of Denver, Researcher Maciej Kumosa/Monika Bleszynski -- Denver, $60,000 
  • National Jewish Health, Researcher Tasha Fingerlin -- Denver, $150,000 
  • University of Colorado-Boulder, Researcher Min Han -- Boulder, $150,000 
  • Colorado School of Mines, Researcher Colin Wolden -- Golden, $109,540