Utah Technology commercialization and Innovation Program approves grants.

• Position: Around Utah

Salt Lake City - The Utah GOVERNOR'S OFFICE OF ECONOMIC DEVELOPMENT (GOED) recently approved more than $400,000 of grants in support of new technologies that universities and licensees are seeking to commercialize to help build companies, create jobs and drive economic development in the state of Utah.

The state invests approximately $1.6 million a year in support of university technology commercialization. The grants will help contribute to Gov. Gary R. Herbert's overall target of accelerating the creation of 100,000 new Utah jobs in the next 1,000 days.

With the assistance of a panel of reviewers from the private sector, the state approved Technology Commercialization and Innovation Program (TCIP) grant funding for 14 projects. The success of the state's TCIP early-stage grants is demonstrable by follow-on funding returns: several companies have reported receiving additional investment funding from outside sources totaling in excess of $23 million.

"TCIP is the premier grant program in the state for helping commercialize new technologies that have been developed by Utah...