2011 Utah Code
Title 63M Governor's Programs
Chapter 1 Governor's Office of Economic Development
Section 702 Purpose.

63M-1-702. Purpose.
(1) (a) The Legislature recognizes that the growth of new industry and expansion of existing industry requires a strong technology base, new ideas, concepts, innovations, and prototypes.
(b) These generally come from strong research colleges and universities.
(c) Technical research in Utah's colleges and universities should be enhanced and expanded, particularly in those areas targeted by the state for economic development.
(d) Most states are enhancing their research base by direct funding, usually on a matching basis.
(e) The purpose of this part is to catalyze and enhance the growth of these technologies by encouraging interdisciplinary research activities in targeted areas and by facilitating the transition of these technologies out of the university environment into industry where the technologies can be used to enhance job creation.
(f) The Legislature recognizes that one source of funding is in matching state funds with federal funds and industrial support to provide the needed new technologies.
(2) The Legislature recommends that the governor consider the allocation of economic development funds for the Technology Commercialization and Innovation Program to be matched by industry and federal grants on at least a two-for-one basis for colleges and universities in the state that offer any doctoral degrees.
(3) (a) The Legislature recommends that the funds be allocated on a competitive basis to the various colleges and universities in the state and to companies working in partnership with colleges and universities to commercialize their technologies.
(b) The funds made available should be used to support interdisciplinary research in the Technology Commercialization and Innovation Program in technologies that are considered to have potential for economic development in this state and to help transition these technologies out of the colleges and universities into industry.