Thirty-six Colorado startups have won nearly $ 8.6 million in grants under the Colorado Office of Economic Development and International Trade’s Advanced Industries Acceleration Program.
The AI Accelerator Grant program received 119 applications for the current grant cycle, with applications being reviewed by expert trade, technical and financial panels, as well as an industry-specific reviewer. A pitch session with 22 companies took place in May with the entire AI committee. The final recommendations were approved by the Colorado Economic Development Commission on Thursday.
“As Colorado begins to recover from the economic impact of the COVID-19 pandemic, supporting the economic drivers of advanced industries is more important than ever,” said Katie Woslager, senior director, Advanced Industries, in a statement. “These projects expand Colorado’s innovation ecosystem, create jobs, develop industries, and stimulate investment in the state.”
The program offers proof-of-concept grants to Colorado research universities, state federal labs, and other labs with technology transfer offices seeking to commercialize research. Seed and Retention Capital Grants fund companies that “commercialize innovative technologies to create viable products that meet a market need and that can be created or manufactured in Colorado and exported around the world.”
Two Colorado companies – Local News Network and Serenity App Inc. – have reached performance milestones and have been approved for second-round or “bridging” funding for a total of $ 250,000.
Regional grants included:
FinGoal Inc., Lafayette – $ 250,000. FinGoal builds infrastructure and analytics for financial brands to better understand individual users on a human level – what they value and what drives them.
Hippo Health, Boulder – $ 125,000. The Hippo Health platform allows patients to see doctors on demand.
CardioScout Innovations Inc., Boulder – $ 250,000. CardioScout is a minimally invasive platform for the visually directed treatment of life-threatening conditions on the surface of the beating heart, enabling cardiac interventions designed to be safer, faster and more efficient than current techniques.
Mosaic Biosciences Inc., Boulder – $ 242,257. Mosaic provides experienced biopharmaceutical teams to advance challenging protein therapy programs from discovery to preclinical development.
SunPath, Louisville – $ 250,000. SunPath, a cleantech startup funded by the U.S. Department of Energy, is developing technology to advance efficient buildings, including commercial, residential, and indoor (controlled environment) agriculture.
Phase IV Engineering Inc., Boulder – $ 381,000. Phase IV Engineering produces industrial wireless sensors that reduce costly unexpected downtime and increase process efficiency.
Boulder Sterilization Services, Boulder – $ 250,000. Boulder Sterilization Services develops equipment to provide “Quick Turn” sterilization services to medical device companies.
Contour Printworks LLC, Longmont – $ 250,000. Contour Printworks enables brewers and other beverage companies to create and can thousands of products for the first time, and to create thousands of new production and sales options for their current canned products.
Orbit Genomics Inc., Boulder – $ 250,000. Orbit Genomics’ technology platform analyzes novel genomic markers, repetitive DNA called microsatellites, that uniquely reflect not only the risk of inherited disease, but also the acquired risk of lifestyle and environmental exposures.
The next proof-of-concept and start-up and retention grant application cycle will open on July 1 and applications will be due September 1.
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