Advanced Industries program offers grants to advance technology in Colorado

The Colorado Office of Economic Development and International Trade (OEDIT) is coming to the WestSlope to discuss opportunities for funding to support technology and business development for companies operating in the state's Advanced Industries and to support Colorado company export growth.  Informational sessions in the region include;

8/8 Grand Junction

·       4:30 – 6:30PM

·       Mesa County Public Meeting Room at 544 Rood Ave.

8/9 Montrose

·       10AM – 12PM

·       Proximity Space at 210 E. Main St.

8/9 Telluride

·       3 – 5PM

·       Wilkinson Public Library at 100 W. Pacific Ave.

8/10 Durango

·       1 – 3PM

·       SCAPE at 1211 Main Ave., Suite #1

The Advanced Industries Accelerator Grant program received 124 applications in their last grant cycle. Twenty-four companies were invited to participate in a pitch session in April and the Colorado Economic Development Commission approved 15 Colorado companies to receive Proof-of-Concept and Early Stage Capital Grants for a total of $2.9 million. Two of these companies were from the WestSlope.  

GitPrime (Durango, CO)- is cloud software that provides productivity analytics for teams of software developers.

Mountain Racing Products (Grand Junction, CO) – Eko Sport, Inc. dba Mountain Racing Products (MRP) is a manufacturer of high end bicycle components and will be launching a new suspension fork line aimed at the new hub standard.

The next application cycle for Proof-of-Concept and Early Stage Capital and Retention Grants is open now and applications will be due September 8, 2017. For more information https://choosecolorado.com/doing-business/incentives-financing/advanced-industries/ or contact Katie Woslager, katie.woslager@state.co.us.

Approximately $40,773,560.79 from the Advanced Industry Fund has been granted since the inception of the program in 2013. To date, the program successes include the creation of 492 new jobs and approximately 593 jobs retained. Additionally, these funds have helped the technologies acquire an additional $200,353,734.29 dollars in grants and investments to further commercialize these advanced technologies.

The Advanced Industries Accelerator Program (AIA) was created in 2013 to promote growth and sustainability in Colorado’s advanced industries by driving innovation, accelerating commercialization, encouraging public-private partnerships, increasing access to early stage capital and creating a strong infrastructure that increases the state’s capacity to be globally competitive. AIA encompasses three distinct grant programs: Proof of Concept, Early Stage Capital and Retention, and Commercialization Infrastructure.

Paid, Local and Remote Summer Internships still available with Startups in Southwest Colorado

9 SWIC internships are still available for this summer.  These opportunities are with exciting new growth companies in Southwest Colorado which include current Telluride Venture Accelerator (TVA) companies, and graduates of both TVA and the Southwest Colorado Accelerator Program for Entrepreneurs (SCAPE) in Durango.

Internships are available for current college students or recent graduates and involve both on-site and remote work.  Most internships involve engaging potential customers through social media and marketing, but also offer the opportunity for hands on production of products and services.  All of the internships are listed on the SWIC website internship page, https://www.innovatesouthwest.org/internships/.  

These internships provide candidates with a unique chance to get involved with innovative growth companies at an early stage where interns can have a meaningful impact.  Participants in the Spring cohort stated that they felt their experience was both diverse and their ideas were valued.  A recent article in the Durango Herald interviewed Durango companies regarding their experience, https://durangoherald.com/articles/147433. 

Employers are looking for applicants to start immediately!!  

Announcing the SWIC Innovation Internship Spring Cohort!

Announcing the SWIC Innovation Internship Spring Cohort!

The Southwest Innovation Corridor Innovation Internship Program has officially launched its first round of internships for the spring! We have matched five Fort Lewis College students and recent alumni with five regional innovation based companies to work together over the next 10 weeks. The students are excited to apply their experience, skills, and knowledge in a highly innovative and entrepreneurial environment, and the companies are eager to develop local talent and help grow their businesses. Keep reading to learn more about the SWIC interns, companies, and projects!

State makes 2-3 million in grants available to emerging companies

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.