Venture Partners Annual Report Unveils a Year of Unprecedented Innovation
CU Boulder’s Venture Partners has released its annual report for the 2023-24 fiscal year, a period marked by remarkable advancements in innovation, entrepreneurship, and commercialization, solidifying the university’s position as a hub for groundbreaking research and development.
A Year of Record-Breaking Achievements
The report spotlights a particularly successful year at the University of Colorado. Highlights from the 2023-24 fiscal year include:
- 36 Startups Launched: 35 from CU Boulder and 1 from CU Denver
- $426M Capital Raised: By portfolio companies.
- $32M Revenue: From commercialization returned to CU Boulder since 2019.
- 63 National Science Foundation I-Corps™ Teams: Trained through Venture Partners
- 94 License and Option Agreements: Facilitated
Bryn Rees, Associate Vice Chancellor for Innovation and Partnerships, emphasized the remarkable accomplishments: “CU Boulder had an incredible year spinning out 35 startups, each built upon a unique university innovation. This is the most ever for CU Boulder, surpassing the prior record of 20 companies in FY 2020-21.”
Driving Forces Behind the Success
A key driver of this surge in new startups is the Embark Deep Tech Startup Creator, a program that pairs promising university innovations with experienced community entrepreneurs, offering resources to launch high-growth companies, and providing resources and programs to help aspiring founders explore and test product-market fit, and find mentors and funding.
Furthermore, the broader innovation environment experienced substantial growth in 2024, including a $160 million from the U.S. National Science Foundation for the Colorado-Wyoming Climate Resilience Engine and $127 million in federal and state funding for the Elevate Quantum tech hub, in which CU Boulder and Venture Partners played important roles in both.
Massimo Ruzzene, Senior Vice Chancellor for Research and Innovation and Dean of the Institutes emphasized the significance of Venture Partners’ role: “Venture Partners is the university’s commercialization arm for CU Boulder, physical sciences at CU Denver and UCCS; our role is to support researchers, entrepreneurs, industry partners and investors who want to transform the world.”
Supporting University Innovators
Venture Partners provides a comprehensive suite of services that include:
- Intellectual Property Management: Protecting compelling innovations.
- Entrepreneurial Training: Offering tools and resources.
- Funding: Providing grants and assistance in obtaining capital.
- Mentorship & Advising: Guiding innovators and startups toward commercialization.
- Licensing & Industry Partnerships: Fostering business-friendly licensing and connecting research with markets.
Notable Startup Successes
The report also features several startups that have experienced significant milestones. Some of the most notable include:
- Eat Meati™: a sustainable food company utilizing mushroom root.
- LongPath Technologies Inc. : pioneering methane emissions monitoring.
- Mana Battery Inc. : developing innovative sodium-based battery technology.
- Mesa Quantum Inc. : focusing on advanced chip-scale quantum sensing.
- PAGE Technologies : developing innovative water and soil monitoring solutions.
- Prometheus Materials Inc. : creating zero-carbon bio-cement.
- Tynt Technologies Inc. : developing smart windows.
- Vitro3D Inc. : bringing dental aligner manufacturing to the patient’s point of care.
The Ecosystem’s Strength
CU Boulder’s success is a testament to the collaborative ‘give first’ spirit of its community, talented and committed network of entrepreneurs, and deep expertise across several industries, including bioscience, sustainability, quantum, and aerospace, according to the report. The report underscores Venture Partners’ dedication to transforming research breakthroughs into real-world impact.
Looking Forward
With a focus on empowering researchers, accelerating startups, and fostering partnerships, Venture Partners continues to drive innovation and commercialization at CU Boulder, anticipating continued growth and success in 2025.
