January 24, 2016 – Earlier this week, our friends at the Southwest Innovation Corridor published a blog post on the Colorado Advanced Industries Accelerator Grant, which provides millions in grants and incentives to emerging companies located in the state. Grand Junction-based ProStar Geocorp received this grant last year.
Here’s an excerpt from the blog post:
“In an effort to support the launch and growth of new firms and innovation, Colorado Office of Economic Development and International Trade (OEDIT) created several programs and incentives to assist companies in their development, one of which is the Colorado Advanced Industries Accelerator Grant.
Over 40 million dollars in grants has been awarded since the beginning of the program in 2013, 20.751 million in 84 awards were granted in FY2016. This amount includes funding in several different programs; Proof of Concept, Early Stage Capital Retention, Infrastructure and Export. 2-3 million will be available for this round. Applications for Proof of Concept and Early Stage Capital Retention are open now and are due by 5:00 PM on 3/1/17.
Only 12 applications have been received for funding from Western Colorado and 1 company funded since inception in 2013.
The program that should be of most interest to companies on the West Slope is the Early Stage Capital Retention program. Grant funding ranges from $50k-$250k and is intended to help fund companies to develop their technologies and increase sales, thus creating jobs and economic growth throughout the state. There are six targeted industries where this funding is available:
· Advanced Manufacturing,
· Energy and Natural Resources including Cleantech,
· Infrastructure Engineering, and
· Technology and Information”