- business iconBusiness
- press release iconPress Releases
- tourism and film iconTourism and Film
- social iconSocial
Utah Invests in Future InnovationApril 08 2013 - 4:28 pm
For Immediate Release
April 8, 2013
Director, IT/Software Cluster and Innovation
GOED Director of Communications
Utah Invests in Future Innovation
GOED hosts third round of competitive grant cycle for fiscal year 2013
Salt Lake City, UTAH — Spring is a time of new beginnings, and after a competitive review, select Utah companies may enjoy this new beginning in the form of a $40,000 grant. The Governor’s Office of Economic Development (GOED) is pleased to announce the acceptance of applications for the Technology Commercialization and Innovation Program (TCIP) grant competition.
Previously funded technologies include a breathalyzer wall mount for alcohol serving venues, winglet technology that can increases the operational efficiency and speed of a plane by up to 12 percent without increased use of the engine, and topical medication that fights glaucoma. Other technologies have included catheters that eliminate urinary tract infections and a technology that uses hair protein to identify individuals.
“The TCIP grant program has been able to accelerate the commercial success and innovation of over 100 companies.” Said David Bradford Technology cluster director at GOED. “Through this grant we are able to leverage the tremendous innovation in Utah- based universities for job creation and economic growth.
The state invests approximately $1.6 million a year in support of university technology commercialization with the goal of generating high-paying jobs and building companies that will be an economic force of the future.
TCIP is a state-funded grant program that was developed for the purpose of commercializing cutting-edge technologies developed at Utah’s colleges and universities.
There are two types of eligible applicants for this grant: 1) a faculty-led team at a Utah college or university, public or private; or 2) a company, existing or startup, that has licensed or is in the process of licensing a technology from a Utah college or university.
The grants are disbursed contingent on federal or private matching funds being furnished by the commercializing company or university to leverage the state’s contribution and are approved based on their potential for economic development in Utah.
Commercialization of the most promising research and technology out of Utah’s universities helps ensure continual economic and job growth across Utah’s most dynamic industry sectors. The grants will further help contribute to Governor Gary Herbert’s overall challenge to the private sector to accelerate the creation of 100,000 new Utah jobs in 1,000 days. Nearly 50,000 jobs have already been tabulated halfway through the challenge.
For information and instructions for the online application, visit http://business.utah.gov/programs/coe/. The deadline for applying is at noon on Monday, May 13, 2013.
About the Utah Governor’s Office of Economic Development (GOED)
The Governor’s Office of Economic Development (GOED) charter is based on Governor Gary Herbert’s commitment to economic development statewide. Utah’s economic development vision is that Utah will lead the nation as the best performing economy and be recognized as a premier global business destination. The mandate for this office is to provide rich business resources for the creation, growth and recruitment of companies to Utah and to increase tourism and film production in the state. GOED accomplishes this mission through the administration of programs that are based around targeted industries or “economic clusters” that demonstrate the best potential for development. GOED utilizes state resources and private sector contracts to fulfill its mission. For more information please contact: Michael Sullivan, 801-538-8811 or email@example.com.