OEDIT awards $5M to 24 Colorado startups
Friday November 16, 2018
DENVER -- A Colorado company providing underwater liDAR technology and services to the subsea oil-and-gas market was 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.
The Economic Development Commission approved 24 Colorado companies to receive Proof-of-Concept and Early Stage Capital Grants for a total of $5,016,997.
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.
“Since creating this program in 2013, we continue to see the breadth and depth of Colorado’s innovative communities by quality of grant applicants,” said Michelle Hadwiger, OEDIT deputy director and global business development director.
“These grants help drive economic growth in key Colorado industries and we look forward to seeing them come to market.”
Additionally, one Colorado company -- Living Ink Technologies -- successfully met all of its performance milestones and was approved for second round or “transition” funding for a total of $175,000.
The latest Proof-of-Concept and Early Stage Capital Grant awardees are:
Låda Cube, Grand Junction, $250,000
MuniRevs, Dolores, $250,000
Felt, LLC, Telluride, $250,000
University of Colorado, researcher Robert Hodges, Aurora, $150,000
Ursa Major Technologies, Denver, $250,000
3D at Depth, Inc., Longmont, $250,000
5280 Prosthetics, Littleton, $250,000
Securisyn Medical, LLC, Highlands Ranch, Denver, $250,000
Big Blue Technologies, Westminster, $250,000
Stateless, Inc., Boulder, $250,000
9Fiber, Inc., Pueblo, $250,000
Atomos Nuclear and Space Corporation, Denver, $247,497
Tendeg, LLC, Louisville, $250,000
Sinopsys Surgical, Boulder, $240,000
Aurora Oncology, Aurora, $115,000
Click Medical, Steamboat Springs, $152,500
Membrane Protective Technologies, Inc., Fort Collins, $120,000
ZeoThermal Technologies, LLC, Longmont, $250,000
SomnoHealth, Inc., Golden, $160,000
Machavert Pharmaceuticals, LLC, Aurora, $250,000
Copper Labs, Longmont, $250,000
Health Scholars, Inc., Westminster, $250,000
Principles of Athletics and Neuroscience Toward Human ExpeRtise (PANTHR), Evergreen, $7,000
Living Ink Technologies, LLC, Aurora, $175,000
The AI Accelerator Grant program received 83 applications this grant cycle. Applications were reviewed by committees of business, technical and financial experts, as well as an industry-specific reviewer. Of the 83 applicants, 22 companies were invited to participate in a pitch session in October with the full AI committee. Final recommendations were approved Nov. 15 by the Economic Development Commission.
The next application cycle for Proof-of-Concept and Early Stage Capital and Retention Grants will open Jan. 2, 2019 and applications will be due March 1, 2019.
The Advanced Industry 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 that increases the state’s capacity to be globally competitive.