Technology Commercialization & Innovation Program
OVERVIEW U.C.A 63M-1-704 The last fiscal year highlights the successes of the changed Technology Commercialization and Innovation Program (TCIP). TCIP supports the acceleration and commercialization of promising technologies from universities and colleges in the state, leveraging in particular the investments made by USTAR and the hundreds of millions of dollars of federal research grants to the State’s colleges and universities each year. The Program offers grants to college and university teams and principal investigators seeking to commercialize their research, as well as to companies who have licensed technology from Utah’s colleges and universities. The primary goal of TCIP is to accelerate commercialization of university-based research and innovation in order to drive economic development and job creation in the State of Utah, which supports the Governor’s challenge to Utah businesses to accelerate the creation of 100,000 jobs in 1,000 days. The program supports a wide range of technology commercialization projects at critical funding points. The application process is competitive, with multiple selection cycles per year. Grants of up to $40,000 are awarded on a first application and up to an additional $40,000 in a second round, for a maximum of $80,000 per applicant for a single technology and require matching funds from federal or private sources to augment the State’s investments in these teams and technologies. The projects to be funded are recommended by a panel of private sector industry and investment experts and projects can hail from any industry sector, including IT/Software, biotechnology, medical devices, energy and cleantech.
2012 Grant Solicitation Report: The TCIP executed three grant solicitation cycles in FY 2012. The program received 99 grant applications totaling over $3.9 million in funding requests; $2.0 million in grants were awarded to 49 different applicants. The charts below provide a summary of significant TCIP-related statistics from FY 2012. Additional TCIP Program Highlights and Achievements Utah is ranked the top states for business and careers by Forbes and others in part because of the state government’s commitment to efficiency and effectiveness. Consistent with that goal, TCIP strives to execute a highly effective, efficient and responsive program as we drive toward achieving the important goals for the program.
Governor’s Office of Economic Development • 2012 Annual Report • www.business.utah.gov
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