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The Global Business Development division of the Colorado Office of Economic Development and International Trade (OEDIT) announced that 34 Colorado companies and eight researchers have been awarded Proof of Concept and Early-Stage Capital and Retention grants through OEDIT’s . 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’s economy forward in communities across the state.

“Colorado is increasingly recognized as a national and global leader in the advanced industries, earning federal recognition for our work in areas like quantum and clean tech. The Advanced Industries Accelerator Program plays an important role in that success, supporting research institutions and startups as they discover and commercialize new, life-changing technologies while creating good-paying jobs for Coloradans,” said Michelle Hadwiger, Global Business Development Director. “These grants also have a proven history of aiding recipients in attracting additional third-party investment critical to helping them grow.”

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 110 applications during this grant cycle, which were reviewed in a multi-stage process by committees of business, technical and financial experts in the seven advanced industries. The Economic Development Commission approved the final recommendations on May 16, 2024, and the awards announced today represent a total of $8,980,117 in funding.

The next application cycle for Proof-of-Concept and Early Stage Capital and Retention Grants is now open, and applications are due Thursday, August 29, 2024.

Proof-of-Concept Grants Awarded to CU Researchers

• University of Colorado Boulder, PI Wei Tan - Boulder, CO $150,000: Developing stent coatings to reduce inflammation and thrombogenicity associated with vascular implants.
• University of Colorado Denver, PI Caroline Clevenger - Denver, CO $150,000: Developing an interactive digital wayfinding assistant to support people living with intellectual and developmental disabilities.
• University of Colorado Denver, PI Miguel Flores-Bellver - Denver, CO $150,000: Developing an early detection test for age-related macular degeneration.
• University of Denver, PI Casey Myers - Denver, CO $150,000: Developing an automated surgical planning tool for total shoulder arthroplasty.
• University of Denver, PI Dali Sun - Denver, CO $150,000: Developing a miniaturized elliptical dichroism spectrometer for molecular analysis in chemistry and biochemistry.

Early-Stage Capital and Retention Grants Awarded to CU Startups

• Aspero Medical - Broomfield, CO $250,000: Aspero Medical has developed a balloon overtube for gastric and esophageal intraluminal endoscopic surgical procedures.
• Austere Environmental, Inc. - Golden, CO $60,000: Austere Environmental has developed a technology that remediates soil contaminated with petroleum products without the use of chemical additives.
• Cascade Biocatalysts - Denver, CO $250,000: Cascade Biocatalysts has developed a resin technology that makes enzymes rugged and reliable for long lasting use in chemical manufacturing processes.
• Colorado Earth LLC - Lakewood, CO $250,000: Colorado Earth has developed a low carbon, unfired earthen masonry block made of waste from a local Colorado quarry.
• ExoPower Inc. - Lafayette, CO $100,000: ExoPower has developed an in-motion capacitive wireless charging technology that keeps industrial mobile robots in motion.
• Green Steel Environmental, LLC - Boulder, CO $250,000: Green Steel Environmental has developed biogas scrubbing technology to clean impurities out of naturally occuring biogas that is created at wastewater plants, landfills, and agricultural sites.
• PAGE Technologies, Inc. - Boulder, CO $250,000: PAGE Technologies has developed affordable biochemical sensors that monitor plant nutrients in real-time.
• Polaris Electro-Optics, Inc. - Broomfield, CO $250,000: Polaris Electro-Optics has developed ferroelectric nematic liquid crystals for optical communications at a lower cost and higher performance.
• RockyTech Ltd. - Boulder, CO $250,000: RockyTech has developed a compatibilizer technology that enables the upcycling of polyethylene and polypropylene blends into new high-quality plastic products.
• Silvis Materials, Inc. - Boulder, CO $100,000: Silvis Materials develops 100 percent bio-based, sustainable, recyclable, and biodegradable cellulosic emulsions made from plants and trees.