SALT LAKE CITY – August 12, 2009 – In an effort to bring innovative new technologies to market from Utah’s public colleges and universities, USTAR has launched the Technology Commercialization Grant (TCG) program.
With a typical award size of $30,000, TCG grants will assist faculty at regional institutions to prototype, test, assess markets, and commercialize new products and services in high-growth markets. In addition, Utah-based companies and other organizations willing to sponsor technology development work at regional public institutions of higher learning may jointly apply with a faculty member.
USTAR TCG funds are intended for use by faculty at Applied Technology Colleges (UCAT), College of Eastern Utah, Dixie State College, Salt Lake Community College, Snow College, Southern Utah University, Utah State University Extension – Uintah Basin, Utah Valley University, and Weber State University.
The regional higher education TCG program is part of an overall strategy to promote commercialization of higher education innovation. USTAR is funding similar grant programs at the University of Utah and Utah State University, augmenting or expanding existing technology development resources at the research universities.
“USTAR has long recognized the role our public institutions have in economic development and fostering innovation,” said Steven Roy, Central Utah Technology Outreach Director. “The purpose of the program is to accelerate the movement of innovative ideas and technologies out of a college, university, or company's lab and into commercial markets quickly in order to create high paying jobs in the state of Utah.”
An overview of the regional higher education TCG program is available at http://www.innovationutah.com/TCGrants.html. Detailed information is available at:
• Terms and Conditions
• FAQs (Frequently Asked Questions)
• Application form and detailed instructions
In addition, USTAR plans to hold an online orientation conference for interested faculty on August 26th. Contact email@example.com for registration and dial-in information.
Applications are due September 30th, with awards announcement anticipated in November. There is no charge to apply. USTAR anticipates offering the TCG program on a quarterly basis through mid-2010.
USTAR’s Technology Outreach directors will evaluate the overall potential of each opportunity. Some of the factors they will 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, to encourage collaborations between industry and regional faculty,” 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.”
Funds for the TCG and related programs 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.
“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 Utah Science Technology and Research initiative (USTAR) is a long-term, state-funded investment to strengthen Utah's "knowledge economy” and generate high-paying jobs. Funded in March 2006 by the State Legislature, USTAR is based on three program areas. The first area involves funding for strategic investments at the University of Utah and Utah State University to recruit world-class researchers. The second area is to build state-of-the-art interdisciplinary facilities at these institutions for the innovation teams. The third program area involves teams that work with companies and entrepreneurs across the State to promote science, innovation, and commercialization activities. For more information, go to www.innovationutah.com or follow http://twitter.com/Innovationutah.