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Utah Sees Impact from Centers of Excellence
Spawning 132 new companies over thirteen years is just one of the impressive statistics cited in the latest annual report for the Utah Centers of Excellence Program (COEP). The 1998-1999 report highlights the program’s accomplishments and economic impact since its inception in 1986. Each year, COEP staff document the program’s contributions to the Utah economy through statistical data and anecdotal success stories.
Since 1986, COEP has awarded $30.7 million in state funding to Utah universities and colleges for applied R&D focused on the development of technologies which have the potential for economic development in the state. That funding has generated cumulative matching funds from private and federal sources of $332.7 million, resulting in a matching fund ratio of 10.8 to 1.
Additional accomplishments include:
- Faculty at the participating Centers of Excellence have filed for 101 patents, resulting in 175 licensing agreements with businesses;
- 985 companies have been assisted through the centers;
- The 132 technology companies created through the program today employ more than 1,300 Utah residents;
- 75 Centers of Excellence have been created: 44 of these have graduated, seven more have been recognized as Distinguished Centers for their technological impact, and 16 are currently active in the program’s funding cycle.
In 1999, COEP provided nearly $2 million in funding for 12 continuing and four new centers of excellence. Centers normally may receive state funding for a maximum of five years. While the matching requirement is 2:1, these 16 centers received private and federal contributions of $11.77 million, almost 6:1. The match was split almost evenly between private and federal sources. During the 1998-1999 fiscal year, the 16 active centers filed for 52 patents (15 already received) and negotiated 21 license agreements with businesses.
For more information on the Utah Centers of Excellence Program, visit its website at: http://www.dced.state.ut.us/techdev/coe.html