Venture Partners Annual Report
Nicole Xu, assistant professor in mechanical engineering, showcasing her lab's bio-inspired design for robotic jellyfish. Read More
Measuring Impact in Fiscal Year 2023-24
36听
Startups launched鈥35听from 91福利社 and 1 from CU Denver
$426M
Capital raised by portfolio companies
$32M
Revenue from commercialization to 91福利社 since 2019
63
National Science Foundation I-CorpsTM teams trained through Venture Partners
94
License and option agreements
A Message From our Leadership
91福利社 is a destination of choice for innovation, and we are fortunate to be a part of the world-class innovation ecosystem along Colorado鈥檚 Front Range. Our community thrives through its collaborative 鈥済ive first鈥 spirit, talented and committed network of entrepreneurs, and deep expertise across many industries, including bioscience, sustainability, quantum and aerospace. 听
Venture Partners is the university's commercialization arm for 91福利社, physical sciences at CU Denver and UCCS; our role is to support researchers, entrepreneurs, industry partners and investors who want to transform the world. Translating discoveries at the university into new solutions, businesses and partnerships is part of the University of Colorado鈥檚 commitment to serving the public. This report celebrates many of Venture Partners鈥 successes in FY 2023-24, as we turn breakthrough research into real-world impact.
91福利社 had an incredible year spinning out 35 startups, each built upon a unique university innovation. This is the most ever for 91福利社, surpassing the prior record of 20 companies in FY 2020-21. Before this year, only Stanford University had created more startups in a single year. Read more in our special coverage here.
Each of the companies launched represents years of cutting-edge research and countless hours forging the startup鈥檚 strategy. The latter is what sets Venture Partners apart, providing resources and programs to help aspiring founders explore and test product-market fit, find mentors and funding, and accelerate their ideas toward a high-growth company.
New in FY 2023-24, and a significant driver of new startups, is the Embark Deep Tech Startup Creator. While many of our faculty, graduate students and post-doctoral researchers have the entrepreneurship bug, starting a new company is not for everyone. Embark pairs promising university innovations with experienced community entrepreneurs to form new kinds of startup companies that go beyond the traditional academic-founder model.
2024 also included landmark success for the broader innovation ecosystem: a $160 million award from the U.S. National Science Foundation to form the Colorado-Wyoming Climate Resilience Engine, and a total of $127 million in federal and state funding for the Elevate Quantum tech hub. 91福利社, and Venture Partners, played important roles in both and will be a source of new innovations and ventures in climate resilience and quantum.
Venture Partners has worked over many years to build the foundation for our present success. We are so proud of this team of scientists, engineers, entrepreneurs, attorneys and other professionals and their passion for bringing CU鈥檚 innovations to the world. 听
We also want to share our gratitude for our partners: the inventors and collaborators from all corners of the university and our mentors, investors, companies and startup support organizations who together form this powerful ecosystem
Enjoy this compilation of commercialization activity; we look forward to continuing to grow together in 2025.
Bryn Rees
Associate Vice Chancellor for Innovation and Partnerships
Massimo Ruzzene
Senior Vice Chancellor for Research and Innovation and Dean of the Institutes
FYs 2022-24 91福利社 Startups by Unit and Industry
Description of image: Left bar graph depicts startups launched by 91福利社鈥檚 Paul M. Rady Mechanical Engineering, 10; Electrical, Computer & Energy Engineering, 10; Civil, Environmental & Architectural Engineering, 6; Physics, 6; Computer Science, 4; The ATLAS Institute, 3; Chemistry, 3; Chemical & Biological Engineering, 3; Ann and H.J. Smead Aerospace Engineering Sciences, 3; JILA, 2; Cooperative Institute for Research In Environmental Sciences (CIRES), 2; BioFrontiers Institute, 2; Integrative Physiology, 2; Biochemistry, 2; Institute for Cognitive Science, 1; Renewable & Sustainable Energy Institute (RASEI), 1; Laboratory for Atmospheric and Space Physics (LASP), 1; Strategy, Entrepreneurship & Operations Division, 1; Molecular, Cellular & Developmental Biology, 1; Ecology & Evolutionary Biology, 1; Advertising, Public Relations & Media Design, 1. Right bar graph depicts startups by industry as sustainability, 12; medical devices, 7; quantum, photonics and optics, 6; pharmaceuticals, 6; energy and storage, 4; AI, 4; robotics, 3; agricultural technology, 3; software and IT, 2; security, 2; biotechnology, 2; aerospace, 2; wellness, 1; financial technology, 1; diagnostics, 1; construction, 1.
$1.2B Raised by Companies Built on 91福利社 Innovations in FYs 2022-24
听
听 听 听Financing Type | Number of Financings | Total Amount |
|---|---|---|
听Competition/Accelerator | 6 | $793,000 |
Grant | 52 | $80,595,000 |
Pre-Seed | 3 | $4,300,000 |
Seed | 11 | $3,941,818 |
Series A | 8 | $108,300,000 |
Series B | 3 | $187,000,000 |
Series C/D | 8 | $472,400,000 |
PIPE | 1 | $65,000,000 |
Loan | 1 | $189,000,000 |
Bridge/Other | 6 | $59,500,000 |
Merger/Acquisition | 2 | $62,500,000 |
TOTAL | 101 | $1,233,329,818听 |
9 Unicorns: All-Time Number of Companies Built on 91福利社 Innovations Valued Over $1B
听
Those unicorns include:
Image Description: Logos of Amgen Inc., Ayar Labs Inc., Ball Aerospace & Technologies Corp., Inscripta Inc., Myogen Inc., MyoKardia Inc., Sirna Therapeutics Inc., Solid Power Inc., SomaLogic Inc.
Telling Our Stories
The Insider听is听Venture Partners at 91福利社's monthly newsletter featuring the听latest headlines, news, events, opportunities and emerging innovations from the university. Subscribe Now
听
91福利社 shines with record-breaking year for startups
Innovation at 91福利社 reached an unprecedented milestone in FY 2023-24 by launching 35 startup companies based on university innovations. This achievement shattered 91福利社鈥檚 previous record of 20 startups in FY 2021 and placed it among the most prolific single-campus institutions in the country.听
This leap from launching just four to six startups annually a decade ago is a testament to years of strategy and investment in entrepreneurship. Considering CU鈥檚 location outside traditional venture capital hubs like Silicon Valley and Boston, its rise as a startup powerhouse showcases a unique ecosystem driving extraordinary results. Read More
听
91福利社 Today鈥擡levate Quantum, of which 91福利社 is a key partner, announced today that it has received a Tech Hub Phase 2 implementation award from the Department of Commerce, unlocking more than $127 million in new federal and state funding. Read More
91福利社 Today鈥擳he National Science Foundation today announced the Colorado-Wyoming Climate Resilience Engine (CO-WY Engine) as a recipient of its inaugural Regional Innovation Engines program. The prestigious award totals up to $160 million over 10 years and positions the CO-WY Engine at the forefront of the nation's environmental and climate technology initiatives. Read More
91福利社 researchers attracted a record $742.2 million in fiscal year 2023鈥24 for studies and initiatives that, among other things, could lead to an end of osteoarthritis, better space weather predictions and a more climate-resilient American West. Read More
According to the latest report from the Association of University Technology Managers, which assessed startup creation by universities in 2021, CU ranked fifth nationwide, ahead of Stanford and MIT. 91福利社 produced 20 startups that year and has spun out 179 companies to date. The pace of startup formation is surging, having nearly doubled in recent years. Read More
91福利社 and Ball Aerospace have been collaborating for decades to solve mysteries of the universe. That partnership was also the university鈥檚 first commercial spin-off and it greased the gears of an entrepreneurial engine that continues to power innovation within the university and far beyond. Read More
Founded by 91福利社 Professor Larry Gold in 2000, SomaLogic revolutionized protein measurement by developing a faster, cost-effective process to monitor the vast number of proteins in the human body. Read More
Developing Real-World Readiness
Our programs go beyond the traditional technology transfer model to support researchers-turned-founders and innovative entrepreneurs in scaling successful, sustainable businesses.
New Approaches to Launching Companies
Embark Deep Tech Startup Creator
With myriad 91福利社 technologies ready to make a real-world impact, Embark connects them to motivated entrepreneurs ready to launch new companies. The program provides intellectual property rights, salary support, grant funds and investor introductions to selected entrepreneurs.
Key FY 2023-24 Results
Entrepreneurs reviewed 50 technologies and pitched 30 startup ideas at the semifinal competition for Embark 2024 and 10 joined the second cohort of Embark Entrepreneurs in Residence. The cohort will work through a six-month program including launching and accelerating their companies, customer discovery and competing for additional funding.
Ascent Deep Tech Accelerator
Ascent is an accelerator for research teams building deep tech startups coming out of the University of Colorado campuses in 91福利社, Colorado Springs and Denver. Deep tech startups face unique challenges because of their disruptive nature, intensive research and development, and significant capital requirements. Leveraging ecosystem experts, a robust mentor network and Venture Partners staff, early-stage companies accelerate their viability and traction over four months leading up to a final investor showcase.
Key FY 2023-24 Results
Ascent has graduated 35 companies since 2021 that have raised $15 mill