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Salt Lake City — The Governor’s Office of Economic Development (GOED) is now accepting applications for the Technology Commercialization and Innovation Program (TCIP) grant competition, which could give winners up to $40,000.
TCIP is a state-funded grant program that was developed to commercialize cutting-edge technologies developed at Utah’s colleges and universities. Two types of applicants are eligible for the grant: faculty-led teams at a Utah college or university or companies that have licensed or are in the process of licensing a technology from a Utah college or university.
The grants are disbursed contingent on federal or private matching funds being furnished by the commercializing company or university to leverage the state’s contribution and are approved based on their potential for economic development in Utah.
Previously funded technologies include a breathalyzer wall mount for alcohol serving venues, winglet technology that can increases the operational efficiency and speed of a plane by up to 12 percent without increased use of the engine, and topical medication that fights glaucoma. Other technologies have included catheters that eliminate urinary tract infections and a technology that uses hair protein to identify individuals.
“The TCIP grant program has been able to accelerate the commercial success and innovation of over 100 companies,” said David Bradford, technology cluster director at GOED. “Through this grant we are able to leverage the tremendous innovation in Utah- based universities for job creation and economic growth.”
The state invests about $1.6 million a year in support of university technology commercialization with the goal of generating high-paying jobs and building companies that will be an economic force of the future.
For information and instructions for the online application, visit http://business.utah.gov/programs/coe/. The deadline for applying is at noon on Monday, May 13, 2013.