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The Global Business Development division of the Colorado Office of Economic Development and International Trade (OEDIT) announced that seven University of Colorado companies and three researchers are among the awardees of the Proof of Concept and Early-Stage Capital and Retention grants through OEDIT鈥檚 Advanced Industries Accelerator Program. These grants help promote the growth and sustainability of advanced industries in Colorado by driving innovation, commercialization, and public-private partnerships that move this vital aspect of Colorado鈥檚 economy forward in communities across the state.
鈥淐olorado is increasingly recognized as a national and global leader in the advanced industries, and this program plays an important role in that success,鈥� said Michelle Hadwiger, Global Business Development Director. 鈥淲hether it鈥檚 in federally recognized innovative industries like quantum and space, or in areas like health that consistently reimagine solutions that improve the way healthcare is delivered, these disruptive technologies create valuable opportunities for our workforce.鈥�
The Proof of Concept grant is intended to help Colorado research institutions speed up applied research in the advanced industries as well as commercialize products and services in partnership with the private sector. The Early-Stage Capital and Retention grant supports businesses commercializing innovative and disruptive technologies in the advanced industries that will be created or manufactured in Colorado.
The Advanced Industries Accelerator Program received 117 applications this grant cycle, which were reviewed in a multi-stage process by committees of business, technical and financial experts in the seven advanced industries. Final recommendations were approved by the Economic Development Commission on November 21, 2024, and the awards announced today represent a total of $5,438,734 in funding.
The next application cycle for Proof of Concept and Early-Stage Capital and Retention Grants will open on January 1, 2025 and applications will be due February 28, 2025.
The Advanced Industries Accelerator Program was created in 2013 to promote growth and sustainability in Colorado鈥檚 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鈥檚 capacity to be globally competitive. AIA encompasses five distinct grant programs: Proof of Concept, Early-Stage Capital and Retention, Collaborative Infrastructure, Export Accelerator, and Global Consultant Network.
The Colorado Office of Economic Development and International Trade (OEDIT) announced that seven University of Colorado companies and three researchers are among the awardees of the Proof of Concept and Early-Stage Capital and Retention grants through OEDIT鈥檚 Advanced Industries Accelerator Program.