Loading resources...
§ Grant
State-backed venture capital fund for early-stage deep-tech startups from Utah universities, funding commercialization.
A $15 million state fund investing in academic spinout startups from Utah universities in deep tech, life sciences, and engineering, bridging university research to commercial ventures.
Utah academic spinout startups based on university-developed technology or IP in deep tech, life sciences, and engineering. Faculty and student-founded ventures from Utah universities qualify.
Seed capital from the $15M fund as equity for company formation, IP licensing, proof-of-concept, and early development, plus mentoring, VC connections, and tech transfer support.
Work through your university's technology transfer office to explore eligibility. The fund evaluates technology commercial potential, IP position, team, market opportunity, and strategic alignment.
Biomedical devices from University of Utah, materials science from BYU, and engineering startups from USU, supported by Silicon Slopes' growing deep tech ecosystem.
The Utah Innovation Fund is a state-backed venture capital initiative administered by the Utah System of Higher Education and the Governor's Office of Economic Opportunity to commercialize technologies developed within local academic institutions. Established in 2023 with a $15 million initial state appropriation, the program provides early-stage equity investments and non-financial mentoring to startups operating in deep-tech, life sciences, and engineering sectors. The fund operates out of Convergence Hall at The Point and has executed recent biomedical investments totaling $700,000 across portfolio companies including Inherent Biosciences and 3Helix. Overseen by a seven-member volunteer board of investors, the initiative is structured to eventually become financially self-sustaining through returns on its equity stakes. This resource is intended for Utah-based researchers, faculty, and early-stage founders seeking capital to bridge the gap between university-affiliated academic research and market-ready commercial products.
The Utah Innovation Fund is a $15 million state fund that invests in academic spinout startups from Utah universities in deep tech, life sciences, and engineering. The fund bridges the gap between university research and commercial ventures, providing seed capital to help promising technologies make the leap from the laboratory to the market. It is part of Utah's strategy to build on the state's strong university research base to create high-value technology companies.
Utah academic spinout startups in deep tech, life sciences, and engineering are eligible. Companies must be based on technology or intellectual property developed at Utah research universities. The fund targets the earliest commercialization stage, where promising academic research needs initial capital to form a company, protect IP, and begin development. Both faculty-founded and student-founded ventures originating from Utah universities may qualify.
Investment from the $15 million fund provides seed capital for technology commercialization activities including company formation, IP licensing, proof-of-concept work, and early product development. The fund invests as equity, providing capital alongside the strategic value of state backing. Beyond direct investment, portfolio companies access mentoring from experienced deep tech entrepreneurs, connections to Utah's growing venture capital community, and support from university technology transfer offices.
Inquiries and applications should be directed through Utah's university technology transfer offices or the fund's managing organization. Companies originating from university research should work with their institution's commercialization office to explore eligibility and prepare applications. The fund evaluates the technology's commercial potential, IP position, founding team, market opportunity, and alignment with Utah's strategic technology priorities.
The Utah Innovation Fund has invested in academic spinouts across the state's research universities, including biomedical device companies from the University of Utah, materials science ventures from Brigham Young University, and engineering startups leveraging Utah State University research. Utah's Silicon Slopes technology corridor provides a growing ecosystem for these deep tech spinouts to develop and attract follow-on investment.