CU Boulder sees 11th startup reach $1 billion unicorn status

Forge Nano, a semiconductor and advanced materials company spun out of the University of Colorado Boulder, has achieved a $1.6 billion valuation, making it the 11th "unicorn" startup from the university. Unicorns are privately held companies valued at $1 billion or more, and CU Boulder’s recent success reflects a surge in high-potential startups, with seven reaching this milestone since 2021. The company specializes in atomic layer deposition (ALD) technology, which deposits single-atom layers onto particles to enhance materials like batteries, semiconductors, magnets, pharmaceuticals, and rocket fuel. Forge Nano’s origins trace back to 2001, when CU Boulder professors Al Weimer and Steven George founded ALD NanoSolutions, which later merged with the startup in 2020. Co-founder Paul Lichty, a CU Boulder alumnus, emphasized the university’s role in developing the technology, calling ALD one of the most important manufacturing innovations of the next century. CU Boulder’s senior associate vice chancellor for innovation, Bryn Rees, noted that unicorn startups drive job creation, capital investment, and real-world impact from academic research. The university’s expanded startup ecosystem—now producing 20 to 35 new ventures annually—has accelerated high valuations by providing funding, partnerships, and resources. Rees highlighted how these companies bridge academic exploration with commercial success, creating jobs and attracting investment to Colorado. The technology behind Forge Nano began as exploratory research in Weimer’s lab, requiring years to prove scalability and cost-effectiveness. Weimer described such innovations as "platform technologies," requiring founders to demonstrate functionality, affordability, and mass production potential. His lab boasts 100% job placement for graduates, with companies actively recruiting students skilled in building and scaling new technologies. CU Boulder’s unicorns primarily focus on deep tech sectors like biosciences, quantum computing, advanced energy, and aerospace. The university’s first unicorn, Amgen, emerged in 1990, but recent growth has accelerated, with a stronger pipeline supporting breakthroughs in cutting-edge industries. Forge Nano’s success underscores the university’s role in translating academic research into high-impact, billion-dollar ventures.