Policy + Advocacy: Legislature Passes New Funding for Advanced Industries Accelerator Grant Program
By: Colorado BioScience Association Date: 03/09/2021
On Tuesday, the Colorado General Assembly passed Senate Bill 42, which includes a one-time, $10 million infusion for the Advanced Industries Accelerator Grant Program. Governor Polis is expected to sign the bill into law. This is a victory for our life sciences ecosystem, following funding cuts to the program during the 2020 budget shortfall.
Our Policy + Advocacy team has worked closely with the Office of Economic Development and International Trade (OEDIT) and members of the General Assembly to highlight the importance of the Advanced Industries Accelerator Grant program to our life sciences community.
The Advanced Industries Accelerator Grant Program is a critical source of non-dilutive funding for Colorado life sciences companies and organizations. It demonstrates a significant return on investment, delivering value back to the state through company creation and high-paying jobs.
Since inception, the program’s success metrics for life sciences alone include:
- 500+ grants
- 1,022 jobs
- 82 new companies
- $1 billion in follow-on capital
CBSA thanks our members who have shared your Advanced Industries Accelerator Grant success stories, led facility tours, participated in panel discussions, and reached out to legislators about the program.