In the first decade and a half of the 21st Century, the Utah Technology Council (UTC) has played a transformative leadership role in the development and passage of legislation impacting Utah’s technology industry. Some of UTC’s landmark accomplishments during this time include:
UTC led the effort to pass the Engineering Initiative with Governor Leavitt, which has been instrumental in increasing the number and quality of computer science and engineering graduates produced by Utah’s universities to “fuel the growth” of the state’s 5,000 technology companies (2001). In 2015, we were able to obtain additional funding support of the initiative resulting in $30 million per year to increase capacity with half coming from 1:1 match from university presidents to hire faculty.
UTC championed passage of this significant entrepreneurial economic development legislation – which has “fundamentally changed the state’s early-stage capital structure.” Over 200 venture capital and private equity firms have been attracted to the state’s rich high-growth innovation community investing $121M in funding commitments to 28 funds (mostly out of state since 2005) – all at no cost to state taxpayers!
UTC played a key role in the creation and funding of the $400M Utah Science Technology and Research Initiative (USTAR) as the state’s “innovation framework.” In close collaboration with the Salt Lake Chamber and EDCUtah, it was passed and has already established an excellent track record for attracting top researchers along with their teams and federal funding to Utah’s leading research institutions to create new companies and high-paying, high-skilled jobs (2006).
UTC is a watchdog for the technology industry. It plays a massive role in helping Utah grow and prosper as a state.”