Gov. Hickenlooper Announces Nearly $2 Million in Advanced Industry Grants to Promote Economic Growth in Colorado

Press Release

Gov. John Hickenlooper and the Colorado Office of Economic Development and International Trade (OEDIT) announced today the most recent grantees of the Advanced Industry Accelerator Grant Program.

A total of $1,944,085 is being awarded for both Proof-of-Concept and Early Stage Capital and Retention Grants that will support several key industries in Colorado's economy.

"Colorado continues to set the standard on innovative programs that accelerate key and growing industries in our economy," said Hickenlooper. "It's exciting to see this program working to bring pioneering ideas from concept to development to the global marketplace. It's companies like these and our advanced industries that will help Colorado continue to grow jobs and build our economy for the future."

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

Proof-of-Concept Grantees:

-University of Colorado - Boulder: Development of a novel class of advanced polymers for commercialization in the orthopedics/prosthetics industry. Grant award: $148,410

-University of Colorado - Boulder: Flight Validation; Working with Ball Aerospace on an Airborne Dual Frequency LIDAR to detect petrochemical leaks. Grant award: $150,000

Early Stage Capital and Retention Grant funding is used to fund companies using technologies developed in proof of concept grants and other early stage startups that have created viable products that meet a market need and that can be created or manufactured in Colorado and exported globally. These grants should enhance the commercialization of advanced industry products or services in Colorado.

Early Stage Capital and Retention Grantees:

-Ascentia Imaging, Inc., Boulder - $150,000

-Beneath the Ink, Inc., Boulder - $245,675

-Clear Comfort, Boulder - $250,000

-CO2Nexus, Inc., Littleton - $250,000

-ION Engineering, Boulder - $250,000

-Lifeloc Technologies, Inc., Wheat Ridge - $250,000

-Synkera Technologies, Inc., Longmont - $250,000

BREAK IN TRANSCRIPT

The Advanced Industry Accelerator Programs were created in 2013 to promote growth and sustainability in these 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. AIA encompasses three distinct grant programs: Proof of Concept, Early Stage Company, and Commercialization Infrastructure. Since the program's inception in 2013, the state has awarded $8.3 million in Early Stage Capital and Proof of Concept grants.

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