Linking Utah's Innovation Community
Grants support commercialization efforts of regional Higher Ed innovators and associated companies
The 4th Quarter round (noon MT, Monday, January 3rd) is now closed.
USTAR held two new rounds of the Technology Commercialization Grant (TCG) program for Utah public regional higher education institutions and associated companies in FY2011.
In an effort to bring innovative new technologies to market, USTAR launched the TCG program in 2009 and conducted three rounds. USTAR conducted two more rounds with application deadlines of Sept. 30, 2010 and Jan. 3, 2011. In USTAR resumes the program in the future, we will announce it on this website, and through our e-Connections newsletter.
With a typical award size of $30,000, these grants assist faculty to prototype, test, assess markets, and commercialize new products and services in high-growth markets. Utah-based companies and other third parties willing to sponsor technology development work at regional public higher education institutions may jointly apply with a faculty member.
Results from the 27 projects funded in the first three rounds are promising. As of June 30, 2010, seven prototypes have been completed, three new patents or disclosures filed, and three new distribution agreements launched.
“USTAR has long recognized the role our regional institutions have in economic development and fostering innovation, and this program has supported that role very effectively,” said Steven Roy, Central Utah Technology Outreach Director. “To date, most projects have had an industry co-applicant, evidence that ‘town and gown’ can work together to boost regional economies.”
USTAR’s Technology Outreach directors evaluate the overall potential of each opportunity. Some of the factors they weigh include the technical merit of the innovation, size and accessibility of the potential market, potential strength of intellectual property, quality of management team, and financial viability of a business built upon the innovation.
“We purposely kept the criteria broadly defined,” Roy said. “This grant program can help to bring together the talents to develop new innovations in the fields of digital media, aerospace technology, alternative energy, and biomedicine, to name just a few opportunities.”
Details of the program and application process can be found at:
Funds for the program come from the federal American Recovery and Reinvestment Act (ARRA) and have been deployed to USTAR through the state’s Senate Bill 240, passed in March 2009. USTAR TCG funds are intended for use by faculty at Applied Technology Colleges (UCAT), Dixie State College, Salt Lake Community College, Snow College, Southern Utah University, Utah Valley University, and Weber State University.
“If the grant leads to the establishment of a commercially successful business, the grantee will be expected to repay the original grant amount in full to a foundation at the granting public institution of higher learning,” Roy said. “The intent is for these repayment funds to be reinvested in further technology commercialization efforts. By this means, success will beget more success.”
The regional higher education TCG program is part of an overall strategy to promote commercialization of higher education innovation.
For more information, contact ustarinfo@utah.gov.
Updated: Jan. 3, 2011