Utah Innovation Fund

Overview

The Utah Innovation Fund is a state-backed venture capital firm dedicated to supporting early-stage startups emerging from Utah's higher education institutions. Its mission is to commercialize technologies discovered, advanced, or developed within these institutions, thereby elevating Utah's economy. The fund focuses on investing in promising startups that are working on innovative solutions to global challenges. The fund's strategy involves providing early investments with conviction, offering access to mentorship, networks, and commercialization resources. It aims to connect research from state institutions to global markets, driving economic, scientific, and social returns to the state. The sectors of interest include deep tech, advanced manufacturing, aerospace & defense, energy & natural resources, healthcare & life sciences, emerging technologies such as AI, AR, VR, BC, and outdoor products & recreation. The Utah Innovation Fund has demonstrated its commitment to fostering innovation by investing in local healthcare and life sciences startups. In January 2024, it awarded a collective $700,000 in funding to 3Helix, Rebel Medicine, and Inherent Biosciences, all of which are associated with Utah's higher education institutions. This investment underscores the fund's dedication to advancing pioneering technologies and supporting the growth of startups that have the potential to make a significant impact on various industries and communities. The fund is managed by a team of professionals with over 100 years of combined experience. A seven-member board oversees its operations, comprising individuals with backgrounds in both bootstrapped and venture-backed startups, as well as large multinational corporations. The fund's analysts participate in a Student Analyst Program, an internship and training initiative that introduces students across Utah to the fields of venture capital and private equity, aiming to create a pipeline of talent that can contribute to Utah's brand as a source of exceptional VC/PE professionals nationwide.

Investment Focus

• Early-stage startups emerging from Utah's higher education institutions
• Innovative solutions to global challenges
• Alignment with the fund's sectors of interest

Portfolio Companies