DENVER and FORT COLLINS — The Colorado Office of Economic Development and International Trade granted Innosphere Ventures $500,000 toward its plans to build a single-story research facility in Fort Collins.
The funds were distributed as part of OEDIT’s issuance of $2.06 million in aid as part of its Advanced Industries Accelerator Grant Program. With it, the state agency said Innosphere will be able to recruit 10 bioscience startups into its accelerator and venture capital fund programs.
BizWest reported Innosphere’s plans for a second building adjacent to its current home in north Fort Collins in January, when it submitted concept plans to city officials. The project is routed for review by city staff, according to the Fort Collins city development database.
The proposed building would range 7,800 square feet alongside the existing 10,600-square-foot building and act as a “wet lab,” or a place designed to contain spillage or contamination if an accident occurs during an experiment with chemical or biological hazards.
Innosphere spokesperson Emily Wilson said the accelerator expects to complete all necessary permitting and begin breaking ground in mid-July and to start operations in the completed facility by the end of the first quarter of 2022.