Advanced Industries Proof of Concept Grant

The Advanced Industries Proof of Concept Grant is a funding initiative administered by the Colorado Office of Economic Development and International Trade (OEDIT), specifically under its Global Business Development division. This grant is designed to accelerate the commercialization of cutting-edge technologies developed within Colorado's research institutions. The goal is to transform applied research into viable products and services that can positively impact the state's seven designated advanced industries. These include advanced manufacturing, aerospace, bioscience, electronics, energy and natural resources, infrastructure engineering, and technology and information. By offering up to $150,000 per project, the program helps bridge the gap between early-stage research and market-ready innovation. The funding must support pre-commercialization activities such as proof of principle, intellectual property protection, prototyping, technical validation, market assessments, and corporate formation costs. Projects must not involve basic research. Joint proposals, where multiple research institutions collaborate and share intellectual property or conduct commercialization activities at multiple institutions, may receive awards beyond the $150,000 cap. Similarly, projects that impact more than one advanced industry may qualify for increased funding. In cases involving enabling technologies like electronics or IT, the application must clearly demonstrate how these enable scalability or market adoption for non-enabling technologies. Applicants must originate from approved Colorado-based research institutions or federal labs, and the project must develop disruptive technologies with the potential to impact at least one of Colorado's advanced industries. All applicants are required to provide matching funds on a 1-to-3 ratio—meaning for every $3 in state funding, at least $1 in non-state cash must be contributed. These matching funds must be dedicated to the project and traceable, and cannot include other state or OEDIT funds. In-kind contributions do not qualify toward this requirement. The grant program opens twice per year, with application windows running from January to March and July to September. The next cycle begins on July 1, 2025. The application process includes two stages: a pre-qualification application submitted by a research institution’s technology transfer office, followed by a full application accessible upon approval. Applicants must use the OEDIT online portal and work closely with their respective technology transfer offices to coordinate internal submission timelines. Some institutions receive pre-allocated grant funds and manage internal selection processes independently. Evaluation of applications involves multiple review stages: internal compliance checks, independent scoring by experts, and industry subcommittee reviews. Selected applicants may be required to participate in pitch training and present to the full committee. Fast-track options are available for top-ranking proposals. Final funding decisions are made by the Colorado Economic Development Commission. Scored sections include Stakeholder Collaboration (10 points), Commercial Potential (50 points), and Personnel/Budget/Plan (40 points). Indirect costs are limited to 8% of total direct costs. Once awarded, grant recipients must enter into a formal agreement with OEDIT. Grant funds cannot be used until the agreement is signed. If the technology is later licensed to an entity not commercializing or manufacturing in Colorado, the institution must reimburse 20% of gross licensing revenue annually until the full award is repaid. Questions or direct communication regarding the program can be directed to Program Manager Rama Haris, Advanced Industries Senior Manager, at 303-824-9768 or via email.