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Thomas Wadsworth
TCIP Fund Manager
801-538-8825

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Technology Commercialization & Innovation Program

The Technology Commercialization and Innovation Program, administered by the Governor’s Office of Economic Development, provides competitive grants to small businesses and university teams to accelerate the commercialization of their innovative technologies. This program helps companies secure non-dilutive funding at critical points in their funding and commercialization lifecycles, resulting in long-term success and economic development in the state.

Eligibility Requirements:

  • A technology developed by a university team or be a licensee of a university technology

OR

  • Be a small business (per the SBA definition)

AND

  • Have less than $500,000 in revenue and have raised no more than $3,000,000 in private capital

Criteria to Determine Grant Awardees

  • Potential economic development in the state of Utah (number of jobs, average salary, etc.)
  • Quality of management and leadership, including experience in startups or commercialization
  • Strength of the company’s technology and potential for commercialization
  • Size and growth of the market for the proposed technology
  • Ability to sell and market the technology and credibility of their “go-to-market” strategy
  • Strength of the company’s overall value proposition and competitive advantage

Grant Size and Resources:

  • Teams may apply for grants up to $100,000
  • Teams may only apply for funding in up to three funding rounds
  • Technologies can only be awarded up to $200,000 in TCIP grants over the life of the technology
  • All grant awardees will have the opportunity to receive free consulting from GOED approved business team consultants

Application Instructions
Other Resources
TCIP & COE Grantees and Annual Reports
TCIP News and Events