Innosphere Ventures Congratulates the Recipients of OEDIT’s Advanced Industries Accelerator Grants

38 Colorado companies were approved to receive Proof-of-Concept and Early Stage Capital Grants for a total of $8,500,000

Current client companies and graduates of Innosphere Ventures’ incubation and commercialization program have been awarded proof-of-concept grants and early-stage capital grants through the Colorado’s Office of Economic Development and International Trade (OEDIT) Advanced Industries (AI) grant program.

“Congratulations to all of the talented researchers and founders from Innosphere’s program who received this early-stage grant funding – your efforts in developing technologies that will change Colorado and the world do not go unnoticed,” said Mike Freeman, Innosphere Ventures CEO. “The State of Colorado’s Advanced Industries Accelerator Grant Program is a critical source of non-dilutive funding for many of the climate tech and life sciences companies that we support in Innosphere’s incubation program.”

In addition to the incubation program, Innosphere Ventures operates a venture capital fund that has invested in companies like Aspero Medical which received $250,00 in AI grant funding. Aspero Medical’s Pillar™ micro-texture technology was developed at the University of Colorado to improve gastrointestinal endoscopy procedure performance and outcomes. “We look forward to continuing to support Aspero Medical on carrying this project to full commercialization and expanding the options currently available for endoscopic gastrointestinal procedures,” said Freeman.

“Working with Innosphere was fantastic” said Matt Irvin, CEO and co-founder of Maplewell Energy. “Participating in Innosphere’s accelerator program helped us get back core value propositions we offer customers.  By building strategy around our key value propositions, we were able to write a clear and competitive proposal for the OEDIT Advanced Industries Early Stage Capital Retention grant.  We are thrilled to have the State of Colorado behind us and grateful for Innosphere’s support.”

Innosphere Ventures would like to thank the Colorado BioScience Association’s Policy + Advocacy team who worked to preserve the Advanced Industries Accelerator Grant Program. Thanks to our partners like CBSA, access to capital can remain a top priority for our ecosystem.

View the full list of Colorado startups that received $8.5 million in Advanced Industries grant funding to fuel their growth can be found here. For more information on Innosphere Ventures, contact Emily Wilson, at [email protected] or 970.222.3493.

Innosphere client companies and graduates receiving Advanced Industries Early Stage Capital and Retention grants in May 2022 include:


Aspero Medical – Boulder, CO $250,000
Aspero Medical has developed novel and patented products to improve gastrointestinal endoscopy. The C-Tube product, designed to address colorectal cancer, will improve colonoscopy screenings and enable advanced endoscopy procedures.


Blue Cubed, LLC- Niwot, CO $250,000
Blue Cubed provides cost-disruptive satellite communications systems through new design approaches. The company’s products span RF and optical links bringing new capabilities and dramatically lowering cost to each. CDMA allows a single ground (or space) station to talk to many satellites at once. A new approach to pointing optical inter satellite links allows much relaxed manufacturing tolerances while retaining the utmost precision required for long distance links.


Caliola Engineering – Colorado Springs, CO $250,000
Caliola Engineering has developed OverKey®, a cybersecurity solution that delivers assured, secure communications in austere environments. It forms a resilient mesh on top of any network and radically simplifies the deployment of military-grade encryption.


Maplewell Energy – Lafayette, CO $250,000
Maplewell Energy has developed an energy management technology to enable a decarbonized energy future. It transforms infrastructure with AI and digital twins to maximize operational resiliency, reliability, and efficiency.


Vitro3D – Arvada, CO $250,000
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.


Proof-of-Concept grants awarded include researchers affiliated with Innosphere’s incubation program:

Colorado State University, Researcher Gary Luckasen – Fort Collins, CO $148,450: Developing a telerehabilitation device for total knee arthroplasty.

Colorado State University, Researcher Mostafa Yourdkhani – Fort Collins, CO $150,000:
Developing a new manufacturing approach for the fabrication of lightweight and high-performance composite energy storage devices.

University of Colorado Boulder, Researcher Jerome Fox – Boulder, CO $56,250:
Developing approach fur using microbial systems to build precisely targeted, readily synthesizable drug leads.

About Innosphere Ventures:
Innosphere Ventures accelerates the success of science and technology-based startups through its unique accelerator and commercialization programs, specialized laboratory facilities, and venture capital fund. Innosphere has supported founders and CEOs building high-tech companies for 24 years and is a non-profit 501(c)(3) organization with a strong mission to grow the region’s entrepreneurial ecosystem.