(Sept. 9) – Rep. Dave Young (D-Greeley) applauded the launch of a grant program to promote commercialization of new technologies and growth among Colorado’s small high-tech startups.

The state Office of Economic Development and International Trade announced last week that it had begun accepting applications for grants under the Advanced Industries Acceleration Act, which had the bipartisan sponsorship of Reps. Young and Cheri Gerou (R-Evergreen).

“I’m pleased this program has gotten off the ground,” Rep. Young said. “Our advanced industries, which already account for 30 percent of Colorado’s workforce, will be the foundation of a robust, sustainable Colorado economy that’s based on modern, high-tech products, and will increase the number of high-paying, high-skilled jobs in Colorado.”

Speaker Mark Ferrandino made the AI bill it the first to be introduced in the 2013 session. It targets advanced manufacturing, aerospace, bioscience, electronics, energy and natural resources, infrastructure engineering, and information technology.

Colorado-based advanced-industry concerns are eligible for proof-of-concept grants, capped at $150,000; early stage capital and retention grants, capped at $250,000, and infrastructure grants, capped at $500,000.

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