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

Colorado OEDIT logoDENVER - 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.

About the Author: InnovatioNews

InnovatioNews is an online news magazine spotlighting innovative companies, products and people in Colorado. Launched in June of 2012, the site is the recipient of multiple awards.