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.
IMPORTANT DATES FOR FY 2018 TCIP GRANT SOLICITATION:
- Pre-Application & Application opens: Friday, October 27th, 2017 (12:00 PM MT))
- Application closes: Monday, November 20th, 2017 (5:00 PM MT)
- In person presentations: TBD
INSTRUCTIONS FOR COMPLETING AND SUBMITTING TCIP GRANT APPLICATION FY 2018
STEP 1: Mandatory Pre-Application, enter the online portal by finding the “Click Here to Apply” link on the TCIP website and set up your portal access with your login and password. Once this has been created you’ll have access to the Pre-Application. If you’ve already created a login and password you can use your previous one. If you can’t remember your password you can reset it within our system. Upon entering the portal click the the blue Funding Opportunities button. Click the blue Apply button to begin your Pre-Application. Applicants may only submit one Pre-Application. Please plan to complete the Pre-Application in one sitting as your answers and progress will not be saved.
STEP 2: The Letter of Intent will be sent to you via email after you’ve successfully completed the Pre-Application. If you don’t meet the specifications in the Pre-Application you will receive a rejection letter with a list of what disqualified your Pre-Application. Electronically sign the Letter of Intent and submit it through the link provided.
STEP 3: The online Grant Application will ONLY be available in the online portal after you have successfully completed and submitted the pre-application and Letter of Intent. You will receive an email notifying you that you have access to submit the Full Application after the letter of intent is signed and submitted. Once you have submitted the Pre- Application and Full Application you will not be able to make changes.
NOTE: Applications can be saved in draft form before submitting. You may resume editing your application by clicking the “My Applications” link on the top menu bar, and then clicking the “Edit” icon next to the application. We recommend saving the answers to the application on a static document as you go through the process to avoid any issues due to internet connectivity to avoid any information getting lost. Each attachment submitted in the application is required to be under 20MB.
REQUIREMENTS FOR A SUCCESSFUL SUBMISSION:
- Company must conform to the small business revenue or full time employee limits as per SBA Guidelines.
- Company cannot have raised over $3,000,000 in debt or equity funding at the time the application is submitted. Utah Admin Code R357-11-4(4)
- Company cannot have generated over $500,000 in revenue for the specific technology being submitted. Utah Admin Code R357-11-4(4)
- Company must meet the required criteria of being at technology readiness levels 6-9. (Please see TCIP website for TRL information)
- Applicant must be a Utah based company who operates primarily in the United States and has a principal place of business in the state of Utah; including a manufacturing or service location and must be independently owned and operated as set forth in Utah Code Section 63N-3-203 (5) and Utah Admin Code R357-11-8 (b)
- An applicant may not submit more than one application in the same solicitation cycle if the applicant has more than one new technology that meets the eligibility requirement for a TCIP grant. Only one new technology project per applicant will be funded in a solicitation cycle.
- An applicant may apply for a TCIP grant up to three times. If an applicant has not been awarded a grant for that specific technology within three different solicitations, TCIP will reject subsequent applications without review. If an applicant who has previously received TCIP funding within the past three years wishes to apply for additional funding they can, however once that same technology has been reviewed and rejected three times without being funded it may no longer be considered for review. Executive Director of GOED or the director’s designee has the right to review and accept or reject a technology that has been submitted over three times to ensure it meets these criteria.
CHANGES TO THE PROGRAM FOR FY 2018:
Grants are up to $100,000 per technology per funding round for potential first time awardees
and up to $200,000 for previous TCIP recipients. An Applicant may apply for a TCIP grant up to
three times for a specific new technology. If a technology receives funding from TCIP that
number will reset and allow for additional application submissions in subsequent solicitation
rounds. Specific technologies may only receive up to $400,000 in TCIP grants over the life of
the technology. Only one technology per applicant or entity will be reviewed per funding round.
TCIP APPLICATION DOCUMENTS:
- A 10-slide PowerPoint Presentation of your proposal must be submitted along with your application. Please use this template for the 10 Slide Powerpoint Presentation. Formatting, font, color, etc. should remain the same. Upload as PDF.
- Budget. Attach a line item budget for how you will spend the requested grant money. Upload as a PDF.
- Projections. Upload financial projections for the next five years as a PDF.
- Current Financials. Upload a current balance sheet, statement of cash flows, and income statements as one file as a PDF.
- A Capitalization Table that outlines the founders and investors percentage of ownership, equity dilution, and value of equity in each round of investment must be submitted. Upload as a PDF.
- Applicants have the option of uploading a maximum of 2 letters of recommendation to support their application. Upload as one document in PDF format.
- An optional Two Minute Video which focuses on the team and their roles as well as the technology and company can be submitted in the application. The first minute should be devoted specifically to introducing the team, their roles, and experience. The second minute should be about the technology & company regarding what sets it apart, the competitive landscape, and the value to the end user.
NOTE: The url link to the video should be created in YouTube and submitted in the Application. Make sure the video is not marked as “private.” Private videos can only be viewed by someone logged into your account. If you would like to keep your video hidden to avoid others from viewing it, please mark it as “unlisted.” This will allow the reviewer to view the video without access problems.
If you have problems with uploading files through the portal you can send them to email@example.com
For any additional questions please submit an email with a header with the following title: “FY18 Solicitation Question” to firstname.lastname@example.org or submit a form on the TCIP website on the “CONTACT US” pop-up. Once we receive the question we’ll upload it to the Q&A section on our website within 24 hours for everyone to view.