World Finance

World Finance

November 08, 2017 05:13 ET

Colorado becomes a hub for advanced industries

LONDON, ENGLAND--(Marketwired - Nov. 8, 2017) - The US state of Colorado is experiencing something of a renaissance.

As a result of a 2013 initiative, titled the AI Accelerator Programme, the state has been attracting talent across advanced industries (AI) at a rapid pace.

AI is a term that has been used to describe some of the world's most innovative sectors, such as aerospace, advanced manufacturing, electronics and energy, among others.

Colorado has invested heavily in these industries - which it sees as key to the US's growth and innovation around the world.

To promote AI, the state of Colorado has created four types of grants and two global business programmes.

These will ensure that some of the most brilliant minds can get funding and a network of support on their journey towards global transformation.

Since Colorado's programme began four years ago, around $49m has been put towards the state's AI fund and over 490 new jobs created - as well as 590 professions retained.

The programme has also helped Colorado to cement its reputation as a business ecosystem, where innovators and technologists have the opportunity to develop their ideas - in a supportive space.

As a result, Colorado has grown immensely in its appeal and the make-up of its talent.

It now has the third-highest concentration of tech workers in the US and is the second-most highly educated state in the US. In addition, it ranks third in the nation for small business innovation research grants per worker.

Speaking about the latest developments, Stephanie Copeland, Executive Director of the Colorado Office of Economic Development and International Trade, said, "It's exciting to see this programme working to bring pioneering ideas, from concept to development, to the global marketplace."

To discover why Colorado is giving Silicon Valley a run for its money, pick up the latest copy of World Finance magazine, available in print, online and on tablet now.

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