Gilbert company gets state innovation funds - East Valley Tribune: Business

Gilbert company gets state innovation funds

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Posted: Thursday, March 17, 2011 10:10 am

A Gilbert company is among five firms statewide to receive part of $1.5 million awarded by the Arizona Commerce Authority to speed development and the commercial launch of promising technology.

Colnatec is a woman-owned “green” tech company that designs and builds thin film process control sensors, hardware and electronics for nanotechnology manufacturing. It will receive $239,400.

Other Arizona companies receiving funding: Biovidria, MSDx, Sedona Energy Labs and TruckItNow.

“The Arizona Commerce Authority is committed to the success of Arizona’s entrepreneurs and small technology ventures. We’re funding innovators that will bridge the gap between Research & Development and commercial launch of new technologies,” said Don Cardon, president and CEO of the ACA, in a statement.  “We are proud to be able to fund such innovative technology; this gives Arizona another step up as we compete with today’s global technology industry.”

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