Innosphere Ventures Congratulates the Recipients of OEDIT’s Advanced Industries Accelerator Grants for a total of $9,978,669

Advanced Industries Grants Accelerate 37 Colorado Startups and Researchers Across the State

Fort Collins, Colorado, May 25, 2023 (GLOBE NEWSWIRE) -- Innosphere Ventures, a leading incubator supporting high-tech startups, congratulates the achievements of 37 distinguished Colorado companies and six pioneering researchers selected to receive Proof of Concept and Early-Stage Capital and Retention grants. These prestigious grants, administered by the Global Business Development division of the Office of Economic Development and International Trade (OEDIT), are part of the esteemed Advanced Industries Accelerator Program.

With a core focus on fostering innovation, facilitating commercialization, and nurturing public-private partnerships, these grants hold significant importance in propelling the growth and sustainability of Colorado's advanced industries. By driving this vital aspect of the state's economy forward, the program provides invaluable support to businesses across Colorado.

“The Colorado Advanced Industry Grant program provides early risk capital that is greatly needed in our growing technology ecosystem. Innosphere would like to thank State legislators, the Governor, and Office of Economic Development and International Trade for their unwavering support of this essential grant program,” said Mike Freeman, CEO of Innosphere Ventures.

Through the Advanced Industries Accelerator Program, the chosen companies and researchers gain the resources and backing necessary to fuel transformative advancements, bolster their market presence, and contribute to the overall economic prosperity of Colorado. Innosphere is honored to be part of this program, which solidifies Colorado's position as a global hub for cutting-edge technologies and groundbreaking ideas.

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, Colorado companies continue to have viable pathways to obtaining early stage capital.

In addition to the remarkable selection of recipients, it is noteworthy that among them, 11 companies affiliated with Innosphere's innovative ecosystem were honored, along with 1 tenant currently based within the Innosphere HQ building.

The full list of Colorado startups that received $9.5 million in Advanced Industries grant funding to fuel their growth can be found here. For more information on Innosphere Ventures, contact Betty Cozzolino, at

Innosphere client companies and graduates receiving Early-Stage Capital and Retention Grants include:

Beryl Therapeutics, Inc. - Longmont, CO $250,000

Beryl Therapeutics has developed a patented small molecule that increases bone formation and reduces bone resorption to treat postmenopausal osteoporosis.

Burst Diagnostics, Inc. - Fort Collins, CO $250,000

Burst Diagnostics has developed a first-in-class point-of-care diagnostics platform for infections for use in doctor’s offices, clinics, and urgent care facilities. 

E-Flux LLC - Fort Collins, CO $97,662

E-Flux has developed a passive soil gas trap to evaluate the greenhouse gas footprint of agriculture operations. 

Impact Cooling, Inc. - Fort Collins, CO $250,000

Impact Cooling has developed a novel data center cooling technology which achieves top-tier peak-load efficiency in high ambient temperature environments using only air. 

New West Genetics - Fort Collins, CO $250,000

New West Genetics has developed sustainable, high yielding hybrid hemp seed using a combination of traditional breeding, modern genomics, and agronomic expertise. 

OMC Hydrogen, Inc. - Fort Collins, CO $250,000

OMC Hydrogen has developed an isothermal pressure swing redox technology for thermochemical production of green hydrogen or syngas. 

Recycle Global Exchange - Castle Rock, CO $250,000

Recycle Global Exchange has developed a cloud-based marketplace that enables businesses to move end-of-life IT assets with a vast pool of recyclers and resellers. 

RoGO Communications - Lakewood, CO $250,000

RoGO Communications has developed a lightweight device that connects firefighters over cellular-denied and radio-denied areas. 

SiVEC Biotechnologies - Fort Collins, CO $250,000

SiVEC Biotechnologies has developed a live biotherapeutic delivery platform to enable the next generation of nucleic acid and gene editing therapies. 

TissueForm, Inc. - Boulder, CO $250,000

TissueForm has developed a biostimulatory and reversible dermal filler to improve life for people affected by volumetric tissue loss. 

Proof-of-Concept Grant:

Colorado State University, PI Reza Nazemi - Fort Collins, CO $150,000:

Developing modular electrochemical systems powered by renewable electricity to produce nitrogen-based fertilizers from agricultural waste streams.

About Innosphere Ventures:
Innosphere Ventures is a regional incubator program that accelerates the success of founders, researchers, entrepreneurs, and university researchers who are launching and scaling technology and science-based startups through accelerator programs, office and specialized wet laboratory facilities, and venture capital funds. Innosphere is a 501(c)(3) non-profit with a mission to grow the region's innovation ecosystem and to support the commercialization efforts of startup companies.


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