Funding with the Future in Mind

Pete CodellaNews

Calling all innovators in academia, the Governor’s Office of Economic Development (GOED) is pleased to announce applications are open for round two of FY 2014 Technology Commercialization and Innovation Program (TCIP) grant competition.

TCIP is a state-funded grant program that was created for the purpose of commercializing cutting-edge technologies born at Utah’s colleges and universities. The Utah Legislature enacted the TCIP program in 1986 to drive economic development and job creation for the state.

Applications for the TCIP grants are due at noon on Monday January 6, 2014. After a competitive review, the Governor’s Office of Economic Development (GOED) will award grants of up to $40,000 to fund development of cutting-edge technologies.

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.

Previously funded technologies include a water conservation meter, a virtual health clinic for active military personnel, a breathalyzer wall mount for alcohol serving venues, a topical medication that fights glaucoma, catheters that eliminate urinary tract infections, and a winglet technology that can increase the operational efficiency and speed of a plane by up to 12 percent without increased use of the engine.

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 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.