OEDIT awards $5M to 24 Colorado startups

Friday November 16, 2018 Tags: Denver, OEDIT, Advanced Industries Accelerator Grants, Michelle Hadwiger

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.OEDIT_logoUSE

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.