Innosphere Ventures, a leading regional incubator program dedicated to accelerating the success of technology and science-based startups, is proud to announce the remarkable achievements of its client companies in securing the Colorado Office of Economic Development and International Trade’s (OEDIT) Advanced Industries Accelerator Grants over the past two years. This grant program, aimed at providing crucial early-stage funding for promising companies, has had a profound impact on many of Colorado’s advanced industries, including bioscience.
From 2017 to 2022, OEDIT awarded more than 450 Advanced Industries grants to bioscience companies in Colorado. These grants have played a pivotal role in fostering innovation, supporting economic growth, and advancing groundbreaking research within the state.
In the recent Fall 2023 grant cycle announced in November, Innosphere Ventures client company, EnteroTrack led by Robin Shandas, PHD, secured a $250,000 OEDIT Advanced Industries Bioscience Grant that will enable EnteroTrack to further its mission of revolutionizing the life sciences industry. EnteroTrack is a clinical-stage, platform technology company that provides a simple yet comprehensive solution to monitor and screen for upper gastrointestinal diseases in the healthcare provider‘s office or at home.
EnteroTrack joins an elite group of Colorado bioscience companies that have benefited from the Advanced Industries Grant Program.
Other recent Innosphere Ventures client companies in the bioscience sector who have secured OEDIT Advanced Industries grants in 2022 and 2023 include::
Beryl Therapeutics- Fort Collins, CO $250,000 2023
Beryl is developing a patented 1st-in-class small molecule to maximize peak bone mass and treat low bone mineral density resulting from disease or naturally associated with aging.
RedDrop Dx – Fort Collins, CO $250,000 2022
RedDrop Dx has developed a low-cost, pain-free, blood collection and transportation system for blood collection at home or by a healthcare professional.
Vitro3D- Fort Collins, CO $250,000 2022
Vitro3D has developed a volumetric 3D printer that allows dentists and orthodontists to print dental aligners at the point of care for faster treatment and better patient outcomes.
Burst Diagnostics– Fort Collins, CO $250,000 2022
Burst Diagnostics exists to empower users with simple, accurate diagnostics when and where they’re needed.
Tissueform– Boulder, CO $250,000 2023
TissueForm has developed a biostimulatory and reversible dermal filler to improve life for people affected by volumetric tissue loss.
GelSana- Boulder, CO $250,000 2023
GelSana Therapeutics has developed a superior hydrogel wound dressing technology for chronic wounds.
Together, these companies have demonstrated Colorado’s exceptional potential for innovation and growth within the life sciences sector.
“We are immensely proud of our client companies and the remarkable progress they have made in the life sciences. The success of EnteroTrack, along with our other outstanding clients, highlights the vibrant innovation ecosystem in Colorado and the crucial role played by programs like the Advanced Industries Accelerator Grant,” said Mike Freeman, Innosphere Ventures’s CEO. “We look forward to continuing our mission of supporting and fostering the growth of technology and science-based startups that drive innovation and economic development in our region.”
The next application cycle for Proof-of-Concept and Early Stage Capital and Retention Grants will open on January 1, 2024 and applications will be due March 1, 2024. “Capital and growth remain a top priority for our ecosystem, as these grants are a critical source of non-dilutive funding for high-technology and bioscience companies,” said Freeman.