Weekly Policy Update: CBSA Fights to Protect the Advanced Industries Accelerator Grant Program
By: Colorado BioScience Association Date: 05/01/2020
Earlier this week, staff analysts for the Joint Budget Committee (JBC) presented revised figure setting documents to guide the JBC as they work to balance the budget over the coming weeks. The documents included enormous cuts in an effort to backfill a possible $4 billion hole that the state is facing. One recommendation being considered by the JBC would eliminate the main source of funding for the Advanced Industries Accelerator Grant Program, a program that is critical to the growth and success of our life sciences ecosystem.
The AI Accelerator Grant Program has a strong track record of success, particularly for life sciences. Since the program’s inception in 2006 (then called the Bioscience Discovery Grant Evaluation Program), there have been over 450 life sciences-related grants, generating over $972 million in follow-on capital and investments. The program has also created 975 jobs and 81 new companies for the life sciences sector.
Since learning about proposed budget cuts to the program, CBSA has been engaging members of the JBC and mobilizing our community. We are asking members and leaders of Colorado’s life sciences ecosystem to take action and contact the JBC to urge them preserve full funding for the AI Accelerator Grant Program.
Learn more about how you can TAKE ACTION.
Today CBSA also sent a letter to the JBC outlining the success of the program and the value it provides to our life sciences ecosystem and the state of Colorado. Read CBSA’s full letter.
The JBC is scheduled to consider the proposed cuts to the AI Accelerator Grant Program on Monday, May 4. You can view the full schedule here.
CBSA will continue to activate our membership and engage with the JBC to ensure they understand how important the program is to life sciences and to the state of Colorado.