NEWS RELEASE

COLORADO OFFICE OF ECONOMIC DEVELOPMENT AND INTERNATIONAL TRADE

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Colorado and Wyoming are collaborating to assist a regional group working to energy progressive pathways towards local weather resiliency by using information, predictive modeling and leading edge expertise to handle key challenges. The Colorado-Wyoming Regional Innovation Engine (CO-WY Engine) is one among 16 finalists within the first-ever National Science Foundation (NSF) Regional Innovation Engines Competition, which can award as much as $160 million in funding over the following ten years.

Officials in each states acknowledge the chance to safe federal funding that may rework the area right into a nationwide chief in growing climate-resilient and sustainable applied sciences and develop financial alternatives and workforce growth in these key areas. 

To elevate the CO-WY Engine, Colorado and Wyoming have each dedicated to align assets that may assist the Engine’s objectives, together with elevated engagement of the enterprise neighborhood with the area’s analysis establishments and Federal Labs; attracting extra funding to assist the commercialization and monetization of recent applied sciences; and rising variety throughout the area’s workforce to incorporate rural communities. 

“We are thrilled to partner with Wyoming on this plan as Colorado is leading our country on environmental tech to help address climate challenges. This funding will grow the work of our universities and federal labs while creating more jobs,” stated Gov. Jared Polis.

“The pathway to a prosperous global future will be paved with adequate, affordable energy and a rigorous commitment to a healthy environment,” Governor Gordon stated. “Wyoming understands the urgency of addressing climate challenges. Our unequaled leadership in innovating and developing needed technologies supports Wyoming’s all-of-the-above energy strategy. This approach will grow our economy, develop our workforce and support thriving communities.”

The CO-WY Engine, spearheaded by Innosphere Ventures, seems to be to remodel the area into a frontrunner within the growth and commercialization of climate-resilient and sustainable applied sciences. These applied sciences will assist communities throughout the area and the nation to observe, mitigate and adapt to local weather impacts. They are anticipated to have direct purposes to water useful resource administration, agriculture expertise, and excessive climate, together with wildfires and flooding. 

“We can solve so many climate-related challenges with technology-driven solutions, and NSF funding will dramatically increase what we can accomplish,” stated Mike Freeman, CEO of Innosphere Ventures and lead of the CO-WY Engine’s proposal to the NSF. “We are pleased to have the support of both Colorado and Wyoming, which have such a strong history of collaboration and share our commitment to creating an inclusive, nationally and internationally relevant Engine that employs a diverse workforce and benefits rural and urban communities alike.”

Among the initiatives being explored by Colorado and Wyoming, the Wyoming Business Council, Wyoming Venture Capital, the Colorado Office of Economic Development and International Trade, and Colorado’s Venture Capital Authority are assessing the opportunity of a enterprise capital fund or funds that may put money into startups commercializing applied sciences that emerge from the CO-WY Engine. 

These commitments construct upon present collaboration between the 2 states, together with a 4 state Memorandum of Understanding (MoU) with New Mexico and Utah to create the Western Inter-State Hydrogen Hub to advance a regional hydrogen financial system. Colorado and Wyoming have additionally signed an MoU outlining the states’ commitments to discover the event of direct air seize to cut back carbon dioxide within the environment.

“Across the Midwest and Mountain States, Wyoming and Colorado rise to the top as one of only a handful of regions that have the talented workforce, collaborative business ecosystem, and research and development capabilities to become a national leader in developing climate resilient technologies. NSF funding will accelerate that growth exponentially, and we are committed to working with Colorado to seize this opportunity,” stated Josh Dorrell, CEO of the Wyoming Business Council.

“In Wyoming, Colorado has found a nimble partner equally committed to growing a strong, diversified economy, engaging urban and rural communities alike, and leveraging our regional strengths to create new commercial opportunities that also create climate resiliency. Elevating shared priorities and resources like a regional venture capital fund will directly support the development of the CO-WY Engine as a national and global leader in climate-resilient technologies,” stated Eve Lieberman, OEDIT Executive Director.

The NSF Engines program envisions supporting a number of flourishing regional innovation ecosystems throughout the U.S., spurring financial development in areas that haven’t absolutely participated within the expertise increase of the previous few a long time.The NSF is predicted to announce profitable Regional Innovation Engines this fall. 

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