The Colorado Association of Manufacturing and Technology signed an agreement with NASA today to promote the commercialization of technology developed for the space program.
The agreement creates a technology acceleration program and regional innovation cluster for aerospace and clean energy. The group will also develop a manufacturing park focused on rapid new product development and production.
The park is expected to boost economic growth and create new jobs, said NASA Deputy Administrator Lori Garver.
Small and mid-sized businesses in the state will have direct access to a NASA innovation ambassador, who will identify technologies ready for commercialization, conduct forums to drive partnership and help identify businesses that can benefit from technical assistance.
The agreement will expedite product development from an average of five years to as little as 18 months, bringing new products to the market more quickly.