鶹ѰBoulder launches accelerator for university-developed COVID-19 innovations
Over the last year, 鶹ѰBoulderscientists and engineershave developedsolutions that address various challenges of the COVID-19 pandemic,including, environmental sensors,supply chain innovations and more. These technologies require entrepreneurial support and acceleration to rapidly be brought to market and address the urgent needs related to the pandemic.
Venture Partners at 鶹ѰBoulder—the university's commercialization arm—has launched the Pandemic Hyper Accelerator for Science and Technology (PHAST) tosupport the translation of these CU-developed, COVID-19innovations into new businesses.
“There is no shortage of good ideas on campus. What often differentiates ideas and impact, though, is the translation and practical application of those ideas,” said Bryn Rees, 鶹ѰBoulder assistant vice chancellor for research and innovation and managing director of Venture Partners. "That’s the goal of PHAST. We're bringing together leading technologists, entrepreneursand startup resources along the Colorado Front Range to takeCOVID-19 solutions out of the lab and into the field."
The six-month accelerator program starts virtually in June.Participants receive entrepreneurial training, fundingand mentorship from seasoned Entrepreneurs-in-Residence, altogether worth over$75,000. PHAST also culminates in a Demo Day,whichprovides a chance for angel investors, venture capitalistsand the startup community to see pitches and discuss deal opportunities.
Crucial to PHAST's programmingis the partnershipformed withlocal angel investing group Rockies Venture Club (RVC), as theprogram requires participants to completeRVC's 1-week.
"The HyperAccelerator’s purpose is to focus on commercialization strategy and preparation for venture capital investment, which is what these companies need to launch and move out of the labs and become successful businesses," said Peter Adams, ExecutiveDirector of RVC."The Rockies Venture Club’s partnership with the University of Colorado is an important step in the evolution of the HyperAccelerator programto facilitate the rapid commercialization of the impressive pandemic related innovations coming out of CU."
鶹ѰBoulder'sPHAST program was selected for funding among more than200 proposals, receivinga $500,000 federal grant and $125,000 local match. This fundingis a part of $29 million that will be awarded to 44 organizations across the country as part of the U.S. Department of Commerce Economic Development Administration’s (EDA) Scaling Pandemic Resilience Through Innovation and Technology (SPRINT) Challenge.
Last year, the SPRINT Challenge was launched to harness America’s entrepreneurial potential to address the economic, healthand safety risks caused by the coronavirus pandemic through entrepreneurship and innovation. Awardees include nonprofits, higher education institutions, and entrepreneurship-focused organizations that demonstrated alignment with their region's economic development priorities.
About Venture Partners at 鶹ѰBoulder
Venture Partners at 鶹ѰBoulderbrings the university's world-class researchers together with the business, startup and entrepreneurial communities to translate groundbreaking solutions into economic and social impact. As the commercialization arm of 鶹ѰBoulder and UCCS, Venture Partners prepares campus innovators to bringtechnologies and ideas to market through IP andlicensing consultation, entrepreneurial education, startup formation and support, partnerships, early-stage funding and more.
About the Rockies Venture Club
is the longest-running and one of the largest angel investing groups in the U.S.A., founded in 1985, whose mission is to advance economic development by actively connecting the most promising entrepreneurial companies with angel investors, venture capitalists, and other community members. Every year Rockies Venture Club offers over 140 educational programs, mastermind groups, angel investor forums, and two major conferences for both investors and entrepreneurs.
The Newsroom
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