University Of Colorado
|
Location |
Boulder, CO |
|
|---|---|---|
|
Project Name |
Pandemic Hyper-Accelerator for Science and Technology |
|
|
Award Amount |
Federal Share |
Local Match |
|
$500,000 |
$125,000 |
The Pandemic Hyper Accelerator for Science and Technology (PHAST) will fuel innovation and drive economic recovery and growth by bringing together leading technologists, entrepreneurs, and startup resources along the Colorado Front Range to commercialize COVID-19 solutions.
Scientists and engineers at the University of Colorado (CU) are developing COVID-19 solutions including vaccines, therapeutics, diagnostics, environmental sensors, air decontaminants, supply chain innovations, and contact tracing. These technologies require entrepreneurial support and acceleration to rapidly be brought to market and meet the urgent needs related to the pandemic. PHAST is a public-private partnership between CU and Rockies Venture Institute (RVI). Venture Partners, the commercialization arm of CU, and RVI are both established engines for venture creation and economic impact in Colorado and continue to launch and grow new businesses during the pandemic. PHAST pairs scientist-founders with seasoned Entrepreneurs in Residence to rapidly advance early-stage businesses from lab to market through an intensive 34-week program, culminating with the Pandemic Hyper-Accelerator at RVI. The acceleration curriculum leverages regional assets including mentorship networks, investment groups, and world class research innovations.
PHAST graduate companies will be ready to raise early-stage capital and will be connected to regional showcase and funding opportunities.
PHAST will address pandemic-related economic, health, and safety risks by catalyzing approximately 10-15 new businesses, 20-30 pandemic inventions, and 28-38 new jobs in 34 weeks. PHAST startups are expected to attract over $40 million in early-stage investment capital and directly generate more than 100 high paying jobs within five years of program completion.