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A Logical Choice

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A Logical Choice Utah Governor’s Office of 8 | WHY UTAH? Economic Development Israel Tel Aviv, Israel +Utah A Logical Choice In 2012, the Utah State Legislature unanimously Salt Lake City, Utah passed senate joint resolution (SJR) 18 that recognized Utah’s cultural, economic, military Utah Accolades and security bonds with Israel. Utah #1 “Best State for Business” - Forbes Utah is Open for Business Utah #1 “Technology Concentration and Dynamism” Due to its strong economic and cultural ties to Israel, Utah - Milken Institute is well positioned as a strategic trade partner. Utah #2 Rate of Business Creation Both Israel and Utah have well-diversified economies - U.S. Chamber of Commerce that are supported largely by key industries such as life sciences, transportation, software development, tourism, Brigham Young University #1 and high-tech manufacturing. Among U.S. universities for the number of startups, licenses, and patent applications per Israel and Utah also produce, export, and import a research dollar spent - Association of University complementary array of goods, including but not limited Technology Managers to: medical devices, electric machinery, precious stones University of Utah #1 and metals, and industrial machinery. The similarities Among U.S. universities for research between these two economies make Utah an ideal commercialization - Association of University market for such products as well as a strategic location for Technology Managers Israeli firms looking to expand operations in the United States. Utah #4 Fastest growing state for science, technology, For more information about doing business in Utah, engineering, and math occupations please contact: 855-204-9046 - U.S. Chamber of Commerce Utah Governor’s Office of Economic Development WHY UTAH? | 9 Technology Commercialization Utah has a wide array of organizations that facilitate the commercialization of new and innovative technologies, including three state research universities, plus 11 additional universities and colleges. Utah also has a network of state-funded economic development organizations and grant programs. Utah Science Technology and Research Utah Fund of Funds initiative (USTAR) • $300 million State of Utah economic development • Fund strategic investments in original or marketable program aimed at providing access of alternative research to leverage the success of Utah’s universities capital to Utah entrepreneurs. in creating and commercializing innovative • Invest in venture capital and private equity funds, technologies. located both in Utah and outside Utah, that commit to establishing a working relationship with Utah’s start- Technology Commercialization Offices at: up and business community and commit to making investments in qualifying companies. Utah State, Brigham Young and the University of Utah Technology Commercialization and • Recognized leaders in transforming new ideas into practical, commercially viable products and services. Innovation Program (TCIP) • State-funded grant that accelerates the process of • Provide process support services to companies to help taking promising university-developed cutting-edge them successfully commercialize university-created technologies, that have strategic value, to market, intellectual property. thereby driving economic development. • Facilitate the transfer of university-developed • Issues grants to companies who license technology technologies to the marketplace by protecting the developed at Utah’s colleges and universities, such intellectual property through patents and copyrights as the Utah Valley University, including startups as and subsequently licensing the protected intellectual well as existing companies who plan to create a new properties to companies outside the university. product or product line from the licensed technology. Selected Utah Strategic Industries Aviation & Aerospace Software Development & Information • Advanced Composite Materials and Manufacturing Technologies • Aircraft Maintenance, Repair & Overhaul • Software and Hardware • Semiconductors Companies: Boeing, Northrop Grumman, Lockheed Martin, • Digital Media General Atomics, ATK, Parker-Hannifin Corporation, Hexcel • Data Centers Corporation, Barnes Aerospace, Advanced Composite Inc., Zoltek Companies: Adobe, Microsoft, Disney Interactive, eBay, Twitter, Corporation, ITT Exelis, Wencor, Kaddas Enterprises Inc. Oracle, IM Flash, Fairchild, Novell, IBM, Linux Networks, Consonus, Red Sky IT Solutions, EMC, Hirevue, V.I.E.W. Life Sciences Association: Utah Technology Council • Medical Devices • Biotechnology Defense and Homeland Security • Personalized Medicine and Healthcare • Unmanned vehicles • Natural Products and Dietary Supplements • Internet Securities • Digital signal processing & radar systems Companies: BD Medical, Edwards Lifesciences, Boston Scientific, Thermo Fisher Scientific, Huntsman Cancer Institute, Myriad Companies: Merit Sensor Systems, ATK, Hill Air Force Base, SAIC, Genetics, Merit Medical, Nuskin, USANA Health Sciences, imSAR, Autonomous Solutions, Kairos Autonomi, Digicert, Solera Sorenson Genomics, Intermountain Healthcare Networks, Panoptic Security, Action Target Association: Bioutah.
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