The Advanced Industries Early-Stage Capital and Retention Grant helps Colorado-based advanced industries technology businesses develop and commercialize advanced technologies that will be created or manufactured in Colorado.
Donor Name: Colorado Office of Economic Development and International Trade (OEDIT)
State: Colorado
County: All Counties
Type of Grant: Grant
Deadline: 09/01/2023
Size of the Grant: Up to $250,000
Details:
The market typically under-invests in early-stage technologies. The grant’s goal is to fill the gap left by the market. The grant is not meant to compete with existing funding.
The Global Business Development (GBD) division administers this grant in partnership with Colorado’s advanced industry trade associations and receives final approval from the Economic Development Commission.
Advanced industries technology
The technology must impact at least one of these advanced industries:
- advanced manufacturing
- aerospace
- bioscience
- electronics
- energy and natural resources (including cleantech)
- infrastructure engineering
- technology and information
Funding Information
A project or technology with a particular application may receive grant awards up to $250,000 unless the award cap is lifted. The award cap may be lifted for projects that impact more than one advanced industry. The advanced industries selected must correspond to the core technology of the project. Applicants should select no more than a primary industry and secondary industry. To receive the full requested amount, all industries selected must support the application.
Eligibility Criteria
To apply for the Advanced Industries Early-Stage Capital and Retention Grant, your business and project need to:
- create a disruptive technology that directly impacts at least one Colorado advanced industry that is either created or manufactured in Colorado
- be registered with the Colorado Secretary of State and in Good Standing
- have headquarters in Colorado or have at least 50% of your employees based in Colorado
- provide matching $2-to-$1 non-State funding to State funding
- have received fewer than $20 million from grants and third-party investors since inception
- have annual revenues of fewer than $10 million
- show that the technology is viable through the proof of concept phase through proof of principle study (own valid IP and trade secrets, have a completed prototype, have technical validation, have a commercialization plan that includes a market assessment confirming market need/opportunity, have initial start-up activities)
Applicants will receive preference points for projects that:
- developed technology licensed from a research institution in Colorado
- participated in an entrepreneurship program
- engaged with incubator or accelerator program
- were referred by a venture capital or angel investor group that decided the technology has commercial potential but is too early for the group’s investment criteria
For more information, visit OEDIT.
