About USTAR at the University of Utah
“USTAR represents the University of Utah’s commitment to ensuring innovation and technology development are as robust over the next 30 years as they were in the previous 50. While it is impossible to know exactly what technologies will emerge 30 years in the future, it is clear that the technologies under development at the University of Utah today will play a major role in daily life in 30 years and innovative entrepreneurs will continue to find Utah an outstanding place to work, live and grow companies.”
Vice President Technology Venture Development
What is USTAR?
Utah’s business community rallied in 2005-06 to encourage the Utah Legislature to invest in the USTAR Economic Development Initiative, a long-term investment in Utah’s economic future. The business community support was broad-based and included the participation of the State’s many chambers of commerce, the Utah Technology Council, the Economic Development Corporation of Utah, and many local economic development agencies.
This group effectively lobbied the Legislature, and as a result SB 75 passed with overwhelming support. SB 75 allocated $179 million to the USTAR Economic Development Initiative, $15 million in ongoing annual funding to support research teams at the University of Utah and Utah State University, $4 million to support economic outreach programs around the State, and $160 million toward the construction of $200 million in new research facilities at the University of Utah and Utah State University. The University of Utah and Utah State University will each contribute matching funds toward the research buildings. $10 million from Utah State University and $30 million from the University of Utah.
For more detailed information about USTAR and the legislative objectives, please click here.