Colorado’s Advanced Industries Accelerator Program Awards $2.9 Million to Technology Startups
DENVER —May 18, 2017 – The Colorado Economic Development Commission (EDC) approved $2.9 million in Advanced Industries Accelerator (AIA) grants today for 18 Colorado companies with technologies that will positively impact key industries from health to manufacturing. The program has awarded over $40 million since its inception in 2013.
“Colorado is a national leader in innovation and business startups. The Advanced Industries Accelerator program is a key initiative in encouraging such activity within the State and we are thrilled to fund so many innovative organizations.” said Stephanie Copeland, OEDIT Executive Director.
The Advanced Industries Accelerator Grant program received 124 applications this grant cycle. Applications were reviewed by committees of business, technical and financial experts, as well as by an industry-specific reviewer. Of the applicants, 24 companies were invited to participate in a pitch session in April with the full AIA committee. Final recommendations were approved by the Colorado EDC on May 18.
“We’re so proud of the innovation happening here in Colorado. After a productive collaboration with the Colorado School of Mines last year, we’re working hard to build upon that success and expand our operations to create impact for the state. It’s an honor to receive this grant in such a competitive program.” said Andrew Maxey, President & CEO of Vartega.
Vartega will use the funds to invest in capital equipment, hire additional staff, and increase production. They have already added three interns for this summer and are planning to continue growing their team over the next 12 months.
Source: Vartega Blog