Colorado Governor John Hickenlooper recently announced that the Advanced Industries (AI) Accelerator Program has awarded six “Proof of Concept” and six “Early Stage Capital and Retention” grants for almost $2 million to organizations within the state.
The AI Accelerator Program was created in 2013 to promote growth and sustainability in industries related to biotechnology, medical devices, agricultural-bioscience, diagnostics, pharmaceuticals, healthcare providers, research institutions, and businesses providing critical services and products to bioscience companies.
Proof-of-Concept grants are awarded for researchers to do pre-commercialization research and commercialization preparation. One grant went to the Colorado School of Mines for $30,000 to develop an energy absorbing device for sportswear to reduce trauma.
Other grants related to health needs went to the University of Colorado in Boulder to work on an ultrasonic system for activity and fall monitoring ($50,000), and for 4DCT ventilation a new lung function imaging modality to be used for radiation therapy ($103,000).
In addition, Early Stage Capital and Retention Grantees use technologies already developed along with other viable products to meet a market need and that can be created or manufactured in Colorado and exported globally.
For example, MBio Diagnostics Inc. received $250,000 to develop and commercialize an inexpensive test to diagnose human diseases. Prima-Temp Inc. received $250,000 to develop an innovative temperature monitoring device to be able to recognize at an early stage acute illness and pregnancy.
In the coming fiscal year, there will be three AI Accelerator grant program cycles. Proposals for Bioscience Discovery and Evaluation Grants will be due November 1, 2014.