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News & Press: Colorado Technology Industry

Colorado Launches Advanced Industries Accelerator Programs

Saturday, September 07, 2013   (0 Comments)
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FOR IMMEDIATE RELEASE
Office of Gov. John Hickenlooper

Office of Economic Development
andInternational Trade


Kathy Green, 720-280-9725
Holly Shrewsbury, 303-892-3847

Colorado launches Advanced Industries Accelerator Programs
Applications for Proof of Concept and Early-Stage Grants due Oct. 1, 2013
DENVER - September 6, 2013-The Colorado Office of Economic Development and International Trade today announced the first grant cycles for the Advanced Industries Accelerator Programs.

Online applications are now being accepted atwww.advancecolorado.com/aiprogramsfor two of the four grants: Proof of Concept and Early-Stage Capital & Retention grants.

The Advanced Industries Accelerator Programs (HB 13-1001,HB 13-1193) were created in 2013 to promote growth and sustainability in these industries by helping drive innovation, accelerate commercialization, encourage public-private partnerships, increase access to early stage capital and create a strong ecosystem that increases the state's global competitiveness.

Advanced industries are prime drivers of the U.S. and Colorado economy, comprised of engineering and R&D intensive companies that deliver products and services in industries ranging from aerospace to medical devices.Colorado's advanced industries include: Aerospace, Advanced Manufacturing, Bioscience, Electronics, Energy and Natural Resources, Infrastructure Engineering, and Technology and Information.

As part of the statewide strategy to support these critical industries in their various phases of growth, OEDIT offers four types of grants and two global business support programs.

Grants are available for Proof of Concept, Early-Stage Capital & Retention, Infrastructure Funding and AI Exports. A network of consultants and an export training program are also available as part of the AI Global Business Support Programs to support these industries in their efforts to tap worldwide markets.

The AI Accelerator Grant Programs include:

  • Proof of Conceptgrant applications are due onOct. 1, 2013, and are for applied research performed at Colorado research institutions. Grants up to $150,000 will be awarded (with exceptions), with matching funds at 3-to-1.
  • Early Stage Capital and Retentiongrant applications are also due on Oct. 1, 2013, and are meant to help Colorado keep and grow our companies. Grants up to $250,000 will be awarded (with exceptions), with matching funds of 1-to-2.
  • Infrastructure Fundinggrants will help build a foundation for Colorado companies to thrive. Grants up to $500,000 will be awarded (with exceptions), with matching funds of 1-to-2. This grant cycle will be announced later this year.
  • AI Exportgrant provides stipends to businesses that are new to exporting or expanding into new export markets. Grant size is limited to $15,000, with matching funds of 1-to-1.

The AI Global Business Support Programs include:

  • Global Network of Consultantsis a network of international consultants that will connect the advanced industries to global opportunities. Colorado companies have access to international consultants in major markets that provide valuable in-country market research specific to the advanced industries. Colorado companies in the advanced industries will be able to use the consultant network startingDecember 1, 2013.
  • Export Training Programconsists of OEDIT and the World Trade Center-Denver providing export training and acceleration program for businesses to learn the fundamentals of exporting and international marketing specific to the advanced industries. Classes will be scheduled for the spring semester, beginning January 2014.

For more information about the AI Accelerator Programs, including upcoming information sessions, guidelines and grant cycles, please visitwww.advancecolorado.com/aiprograms.


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