Thirty-six Colorado startups secured almost $8.6 million in grants as part of the Colorado Office of Economic Development and International Trade’s Advanced Industries Accelerator Program.
The AI Accelerator Grant program received 119 applications for the current grant cycle, with applications reviewed by committees of business, technical and financial experts, as well as an industry-specific reviewer. A pitch session with 22 companies occurred in May with the full AI committee. Final recommendations were approved by the Colorado Economic Development Commission on Thursday.
“As Colorado begins its recovery from the economic impact of the COVID-19 pandemic, support of the economic engines that are the advanced industries is more important than ever,” Katie Woslager, senior manager, Advanced Industries, said in a statement. “These projects expand the Colorado innovation ecosystem, creating jobs, expanding industries and driving investment into the state.”