Technology Commercialization & Innovation Program
TECHNOLOGY COMMERCIALIZATION & INNOVATION PROGRAM
U.C.A. 63N-3-201 The Technology Commercialization and Innovation Program (TCIP) supports the growth and commercialization of promising technologies developed by private sector entrepreneurs and by students and faculty of Utah’s higher education communities. TCIP provides smaller, frequent funding opportunities to a wide range of projects at critical points in their product life cycle. To be eligible for a TCIP grant, applicants must either be affiliated with a Utah-based university, or be a small business as defined by the U.S. Small Business Administration and whose principal place of business is Utah. Applications are ranked according to: • Potential economic development in the state of Utah (number of jobs, average salary, etc.) • Quality of management and leadership, including experience in startups or commercialization • Strength of the company’s technology and potential for commercialization • Size and growth of the market for the proposed technology • Ability to sell and market the technology and credibility of their “go-to-market” strategy • Strength of the company’s overall value proposition and competitive advantage Grant awards are for $100,000. Qualified applicants may be awarded up to $200,000 in TCIP grants over the life of the technology. Mentorship FY 2016 Awardees by Cluster and entrepreneurial curriculum are Outdoor Products made available to award recipients Energy 1 2 as part of the grant program.
FY 2016 Summary In May, past grant recipients participated in a public “demo day.” Representatives from companies presented 10-minute pitches on
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Life Science 14
Software/IT 7
Governor’s Office of Economic Development • 2016 Annual Report • www.business.utah.gov
