OEDIT announces grants to CU Boulder and CU Denver startups and researchers

This article was originally published by the Colorado Office of Economic Development and International Trade (OEDIT).

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The Global Business Development division of the Colorado Office of Economic Development and International Trade (OEDIT) announced that 22 Colorado companies and 13 researchers have been awarded Proof of Concept and Early-Stage Capital and Retention grants through OEDIT’s Advanced Industries Accelerator Program, including seven CU Denver and CU Boulder ventures.

These grants help promote the growth and sustainability of advanced industries in Colorado by driving innovation, commercialization and public-private partnerships that move this vital aspect of Colorado’s economy forward in communities across the state.

“These pioneering companies and researchers are not only advancing technology, they are creating jobs, attracting investment, and positioning Colorado at the forefront of global competitiveness,” said Michelle Hadwiger, Global Business Development Director. “From advanced materials and aerospace to quantum computing and sustainable manufacturing, this cohort showcases the bold ideas that are shaping Colorado’s future economy.”

The Proof of Concept grant is intended to help Colorado research institutions speed up applied research in the advanced industries as well as commercialize products and services in partnership with the private sector. The Early-Stage Capital and Retention grant supports businesses commercializing innovative and disruptive technologies in the advanced industries that will be created or manufactured in Colorado.

The Advanced Industries Accelerator Program received 119 applications this grant cycle, which were reviewed in a multi-stage process by committees of business, technical and financial experts in the seven advanced industries.

The next application cycle for Proof-of-Concept and Early Stage Capital and Retention Grants will open on July 1, 2025 and applications will be due August 28, 2025. Learn more here

Proof-of-Concept Grants

Sanghamitra Neogi (CU Boulder Ann and H.J. Smead Aerospace Engineering Sciences) - Boulder, CO $150,000: Developing an atomic-scale thermal modeling software tool for nanoscale semiconductor devices.
Farnoush Banaei-Kashani (CU Denver College of Engineering, Design and Computing) - Denver, CO $150,000: Developing an artificial intelligence-based software tool for optimized, preventative and cost-efficient bridge and culvert maintenance planning.

Early-Stage Capital and Retention Grants

Icarus Quantum Inc. - Boulder, CO $250,000: Icarus Quantum has developed a groundbreaking photonic interconnect technology that will enable scalable and efficient connectivity between quantum processors.
Kioga Inc. - Erie, CO $250,000: Kioga is developing novel postbiotic ingredients that reduce chronic, low-grade inflammation of the brain and body.
PrecisionTerra Inc. - Superior, CO $100,000: PrecisionTerra has developed a software-based navigation signal processor that improves positioning accuracy in areas where satellite signals are typically weak or disrupted.
Pricing Service Inc. - Boulder, CO $250,000: Pricing Service has developed an artificial intelligence powered hotel pricing software that helps hotels optimize room rates.
SteriO3, LLC - Littleton, CO $250,000: SteriO3 has developed a portable, low-temperature sterilization system for surgical instruments.