The Colorado Economic Development Commission (EDC) http://choosecolorado.com recently approved $2.9 million in Advanced Industries Accelerator (AIA) grants to go to 18 Colorado companies with technologies that will impact key industries from health to manufacturing.
The Colorado EDC approved 15 Colorado companies to receive “Proof-of-Concept” and “Early Stage Capital and Retention Grants” for the $2.9 million. Proof-of-Concept grants are open to Colorado research universities, federal labs located in the state, and also open to other labs with valid technology transfer offices for pre-commercialization research and preparation.
Early Stage Capital and Retention Grants fund companies commercializing innovative technologies that will create viable products that will meet a market need, but must be created or manufactured in Colorado and if possible exported globally.
Three of the awardees involved in the medical field include:
- Colorado State University www.colostate.edu (CureImmune)—Developing the first immune-oncology checkpoint inhibitor drug that is a stable small molecule, inexpensive to manufacture, easy to store and ship and can be administered at home
- Matrix Analytics http://matrix-analytics.com — a Mark Cuban Company, has developed “LungDirect” which provides real-time data analytics, multidisciplinary reporting, and advanced nodule tracking to help lung cancer patients
- Solo-Dex Inc. www.solo-dex.com –has developed and now promotes the use of nerve catheters for pain management by using Continuous Peripheral Nerve Blocks (CPNB) for orthopedic surgery
The AIA grant program received 124 applications this grant cycle. Applications are reviewed by committees of business, technical, and financial experts as well as by industry-specific reviewers. Final recommendations were approved by the Colorado EDC on May, 18, 2017.
The next application cycle for Proof-of-Concept and Early Stage Capital grants will open on July 3, 2017 with applications due August 31, 2017. Infrastructure grant cycle will open February 1, 2018 and close April 2, 2018.
In addition, three Colorado companies Arthroventions http://arthroventions.com developing devices to use to inject medications into joints to improve patient care, Optienz Sensors http://optienz.com, and IM Therapeutics http://imtherapeutics.com that is developing a therapeutic approach to use to treat Type 1 Diabetes. The funding approved for the three companies for a second round or transition funding totaled of $201,511.