Fifteen promising innovative technologies just got a $40,000 boost. For the first round of the new fiscal year, the Utah Governor’s Office of Economic Development (GOED) approved $600,000 of grants in support of new technology and research that universities and university licensees are seeking to take to market. The grants are designed to help build companies and create quality new jobs from groundbreaking innovation.
Based on the recommendations of a panel of private sector industry experts, the state approved Technology Commercialization and Innovation Program (TCIP) grant funding for 15 projects, some of which were new grants while others were follow-on grants to existing companies and projects — projects or companies may obtain up to two grants for the same application of the same technology.
To leverage the state’s dollars, the critical-stage grants are given to selected technologies with commercial promise that can show achievable milestones and can provide matching funds from federal grants or private investors. Utah Policy
