Utah small businesses in need of money for a new idea can once again turn to the Utah Technology Finance Corporation, which on Monday invited state entrepreneurs to submit applications for up to $50,000 in funding.
Gov. Norm Bangerter and Corporation Chairman Jim Jardine announced the opening of the fifth round of invitations during a morning press conference at Ceramatec, a company spun off from the University of Utah with the assistance of UTFC funding."The Utah Technology Finance Corporation has already provided more than $2.4 million to fund the start of 44 businesses with the aim of creating new jobs for Utahns and boosting the Utah economy," Bangerter said.
The corporation is a state-funded, public, non-profit organization created to promote innovative research and job growth. Proposals are judged mainly on the merits of the research and its potential for creating high-growth, technology-based businesses in Utah, Jardine said.
Applications are available at the corporation offices and the Utah Engineering Experiment Station, 104 Energy Minerals Research Office Building, 581-5425. Applications for the fifth round of funding must be submitted by 5 p.m. July 18. Proposals can be a maximum of 30 pages. A small business is defined as one with fewer than 500 employees.