DENVER, (Jan. 12, 2006) - The Colorado Office of Economic Development and International Trade (OEDIT), under its Bioscience Discovery Evaluation Grant (BDEG) Program, has approved 27 grant requests totaling $1,948,631 to be used to accelerate the development of new bioscience products and services. 

The Bioscience Discovery Evaluation Grant Program is a new program created by the Colorado legislature in 2006.  The purpose of the program is to improve and expand the evaluation of new bioscience discoveries at research institutions with the intent of accelerating the development of new products and services-essentially a proof of concept program. 

"This funding provides support for one of our emerging industries in Colorado that has very significant growth opportunities," said OEDIT Business Finance division director Alice Kotrlik.  "This program is one of the components needed to more fully integrate commercialization of bioscience products and services within Colorado."

• Recipients of the Grants include: 
• $1,017,631 to the University of Colorado's Technology Transfer Office for 13 projects
• $441,000 to the Colorado State University's Research Foundation Technology Transfer Office for 5 projects
• $196,000 to the National Jewish Medical and Research Center's Intellectual Property & Technology Commercialization Program for 5 projects
• $78,275 for the Bonfils Blood Center Foundation's Office of Technology Transfer for 1 project
• $162,465 to the University of Denver's Department of Intellectual Property and Technology Transfer for 2 projects
• $53,260 to the University of Northern Colorado's Office of Technology Transfer for 1 project  

Representative Jim Riesberg (D-Weld Co.) sponsored the successful legislation in 2006.  After reviewing the funded proposals, he stated that, "I am pleased with the high caliber of requests and interest in this program.  I look forward to some successful job creation and economic boon for the state."
 
For more information on the BDEG Program, select the Business Finance Division at www.advancecolorado.com or contact Alice Kotrlik at 303-892-3846 or alice.kotrlik@state.co.us

The Colorado Office of Economic Development and International Trade offers a host of programs and services tailored to support business development at every level.  They include business retention and relocation services, a bioscience and emerging industries program, business finance programs like the Venture Capital Authority and CAPCO, the Colorado Tourism Office, the Colorado Council on the Arts, the Colorado International Trade Office, the Colorado Small Business Development Centers, minority- and women-owned business services and economic research. For more information or to sign up for OEDIT's free eNewsletter, visit www.AdvanceColorado.com.  

For more information, contact:  Alice Kotrlik, (303) 892-3846