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About Technology Venture Development
The Technology Venture Development office ("Tech Ventures") at the University of Utah is dedicated to technology commercialization and driving economic development for the state. We accomplish this by licensing faculty inventions, building partnerships, supporting our community and educating students.
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The economic impact of commercialization
Technology Venture Development was founded in 2005 to drive all commercialization activities across the University of Utah. We strive to have a positive impact on the local and national economy. We do this by helping talented faculty bring their inventions to the marketplace and by helping students hone their professional skills. One of the most prominent examples is the number of startup companies we have helped launch based on inventions at the U. But our impact goes well beyond startups. We also drive partnerships and educational opportunities of all sorts that help grow jobs and income for many people.
Building a culture of innovation
Technology Venture Development and related departments are dedicated to growing a "Culture of Innovation." We strive to create the programs, services and partnerships necessary to support existing progress and promote additional commercialization and entrepreneurship. We do this by collaborating across the campus, state, nation and world to build the connections needed to drive sustained innovation. We welcome partners of all sorts to join this effort.
Tech Venture's mission
Technology Venture Development serves the citizens of Utah, the public interest, and the University of Utah by ensuring technologies developed by the university's laboratories meet three goals: (1) create enterprises in Utah that are technology leaders in their markets and provide quality jobs for the citizens of Utah; (2) support technology development for existing Utah businesses and enterprises founded on university technologies so they prosper and expand in Utah; and (3) generate returns on the university's technologies for investment in new research, to support and retain current faculty, and to hire world-class scientists.
Technology Commercialization Office
The Technology Commercialization Office (TCO) at the University of Utah is embedded within Technology Venture Development. TCO has managed the University's intellectual property developed by faculty, staff and students since 1967. Through the establishment of the commercial partnerships with industry, the development of products from these technologies, TCO benefits the public and promotes economic growth.
Pierre Lassonde Entrepreneur Center
The Lassonde Entrepreneur Center provides and teaches real-world business experience to help young entrepreneurs be better prepared to understand and assume the risks of business ownership and management. Through this education process we hope to inspire entrepreneurs to continue their education not only today but continually so that they may be better prepared for tomorrow's market.
Related Programs
Technology Venture Development and related departments host a wide variety of programs and services for our valued partners. A few of them include mentoring programs for faculty, student competitions for undergraduates and graduates, seminars for professionals, networking opportunities for entrepreneneurs, innovation programs for middle-school students, and more. Browse our website for a closer look at these programs, or contact us for a private consultation. We have something for everyone interested in commercialization, entrepreneurship or innovation.