The Technology Commercialization and Innovation Program (TCIP), a program within the Governor’s Office of Economic Development (GOED), begins its grant solicitation Friday, Oct. 27 at noon. The program will accept grant applications until Monday, Nov. 20 at 5 p.m.
TCIP provides competitive grants to small businesses and university teams seeking to bring their new technologies to market. Over the last three years, 63 companies have received grant funds totaling $5.4 million. TCIP has $2.5 million to distribute among companies in this round.
“TCIP provides critical support to Utah entrepreneurs to make innovative technologies a reality,” said Val Hale, GOED executive director. “The program helps GOED fulfill its mission to grow Utah businesses and enhance quality of life.”
First-time grant awardees may receive up to $100,000 in funds, and companies that have previously received TCIP funding may qualify for a grant of up to $200,000. Past grant recipients represent a variety of industries including life science, information technology and software development. A review board selects companies based on the viability of the technology and its economic potential.
“Commercialization is an important step for a product to have real impact, economic or social,” said Clark Cahoon, TCIP fund manager. “These companies demonstrate remarkable ingenuity in tackling real-world issues, and we’re proud to provide the support they need to bring their technologies to market.”
Applications will be accepted for one month. For more information on grant eligibility and how to apply, visit business.utah.gov/TCIP.