FOR IMMEDIATE RELEASE (November 21, 2017 | Grand Junction, CO) – The Grand Junction Economic Partnership (GJEP) would like to congratulate ProStar Geocorp™ for receiving an Advanced Industries Accelerator (AIA) grant from the Colorado Office of Economic Development and International Trade (OEDIT) last week. This is the Grand Junction-based tech startup’s second AIA grant.
“ProStar Geocorp has been a trailblazer in the tech industry, not only on the local or state level, but internationally as well. ProStar is literally placing Colorado’s Grand Valley on the map for tech innovation and we are pleased to see the state recognize the company with this grant,” said Tim Fry, GJEP Chair.
AIA grants are available to startup companies in the proof-of-concept, early stage and retention phases to fund research, preparation and commercialization of innovative technologies to create viable products that meet a market need and can be created or manufactured in Colorado and exported globally.
After an extensive grant cycle that included a live pitch session earlier this month, OEDIT awarded a total of $3.2 million in AIA grants to 15 Colorado companies on November 16. ProStar was one of only three companies located in a rural community to receive the grant this round.
Michelle Hadwiger, global business development director and OEDIT deputy director stated “the breadth and potential impact of the companies that were awarded grants this cycle is impressive. One of Colorado’s greatest strengths is the constant innovation in our key industries and we’re thrilled to continue to support that ecosystem with funding.”
ProStar develops advanced geospatial intelligence software specifically designed for asset-centric industries, including the utilities and pipeline industries. Stakeholders can see where they are relative to critical location data including a line map, dig zone, street address, site boundary, and buried utility lines.
ProStar Geocorp was incorporated in 2016 and currently operates its headquarters in Grand Junction, alongside an affiliate office in North Carolina. The company has 15 employees and plans to double the staff by year 2020.
ProStar was the first company to be accepted into the Colorado Rural Jump-Start Zone Tax Credit program in 2016, which allows a business to operate free of most business and income taxes, provided the company hires five net new employees over a five-year period and partners with a local institute of higher education.
“The support we have received from agencies like OEDIT and GJEP has been tremendous and continues to play a vital role in our growth. This recent AI grant will assist us in placing the City of Grand Junction and the State at the forefront of the Smart City initiatives currently underway around the world,” said Page Tucker, CEO of ProStar.
The company is currently working with the City of Grand Junction, CDOT and Colorado 811 to implement its groundbreaking technology at the municipal, DOT and 811 levels, and aligning Grand Junction with “smart cities” across the globe, including New York , Singapore and London.