Giving Utah Small Businesses and Entrepreneurs a Competitive Advantage

The Utah Industry and Innovation Center, an office within the Governor’s Office of Economic Development (GOED), works with companies, industry partners, and collaborators statewide to build and strengthen businesses and the state’s innovation ecosystem. The Center focuses on targeted industry sectors and assists companies in their Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) pursuits.

A Collaborative Effort

Through collaborations with the Small Business Development Centers (SBDC), which offer expertise to those interested in starting and growing a business, and the Procurement Technical Assistance Centers (PTAC), which help companies with the federal procurement process, the Innovation Center helps companies access resources to develop their business and commercial pathways. Both the SBDC and PTAC have offices across the state, each with region-specific knowledge.

“The work the Center does allows Utah innovators’ dreams to come to fruition,” said Ryan Starks, GOED’s managing director of Business Services. “Their pledge to help clients every step of the way is truly amazing and demonstrates their commitment to excellence.”

Other targeted partners include the Suazo Business Center, Women Tech Council, Womenpreneurs, and Women’s Business Center of Utah, providing expertise for minority and women-owned businesses. Additionally, local Chambers of Commerce encourage companies to share their experiences and mentor business owners to reach for the next goal.

Universities located throughout Utah also collaborate with businesses regularly. Southern Utah University hosts a Small Business Development Center with a full range of services. Both Utah State University and the University of Utah support technology transfer from their institutions. For example, the University of Utah is launching a new accelerator, Altitude Labs, open to any life science company. Utah boasts nearly two dozen accelerators statewide, each offering space and mentoring for new business owners.

Working closely with sector-specific organizations, including BioUtah and Silicon Slopes, the Center assures cohesive messaging and inclusion. There is a robust community of Angel Funds and Family Offices supporting Series A funding in Utah, each supporting companies in their equity funding pursuits. The state is also home to VentureCapital.org, one of the country’s oldest venture capital firms.

The Center also works closely with state organizations, such as World Trade Center Utah, to support companies interested in pursuing international markets.

Non-Equity Position Funding

The Utah Industry and Innovation Center offers a wide range of support services to Utah companies interested in the federal SBIR and STTR programs. Referred to as America’s Seed Fund, these programs offer $4 billion annually in competitive non-equity position dollars to move innovation forward and into the marketplace.

The Center helped bring over $44 million from these programs to 53 Utah companies in seven counties, many of which are now thriving. The Center boasts a win rate nearly twice the national average and received national recognition for its work, winning the Small Business Administration 2016 Tibbetts Award.

Utah business owners also recognize and appreciate the work of the Utah Industry and Innovation Center.

Tom Wolf, CEO of Silicon Technologies Inc. (STI), started his company in 2009 with two staff members and an idea. After winning SBIR funding in 2011, STI has grown to become a key player in electronic components and circuits resistant to damage or malfunction caused by high levels of radiation, referred to as Rad Hard Technology. “The Center staff taught us how to submit the best proposals. We know how to create new ideas, but are not good with following instructions, and I attribute our success directly to their expertise,” said Wolf. “The Air Force now believes in our technology and selected STI to host their annual Radiation Hardened Electronics conference in Salt Lake City. We will bring together hundreds of Department of Defense program managers to see firsthand how Utah is upending the chip industry from our Midvale, Utah headquarters. It would not have been possible without the Utah Industry and Innovation Center. Period.”

Companies from across all industries utilize the Center’s assistance throughout the state, running their research and development through the SBIR program exclusively. The technology innovations run the spectrum from interstellar antennas to apps, 4D X-ray to testing dust accumulation in space, pharmaceuticals and medical devices, cancer detection, and more.

“We are in awe of the technology put forth by Utah companies, where there is no lack of innovation or talent,” said Mary Cardon, director of the Utah Industry and Innovation Center. “Our job is to make certain the companies present not just the innovation, but the team that will carry the project, the market need, and the path to get there. Utah’s companies do not disappoint at any level.”