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.