63M-1-702 - Purpose. - Utah Statutes

63M-1-702. Purpose.
(1) (a) The Legislature recognizes that the growth of new industry and expansion ofexisting industry requires a strong technology base, new ideas, concepts, innovations, andprototypes.
(b) These generally come from strong research colleges and universities.
(c) Technical research in Utah's colleges and universities should be enhanced andexpanded, particularly in those areas targeted by the state for economic development.
(d) Most states are enhancing their research base by direct funding, usually on a matchingbasis.
(e) The purpose of this part is to catalyze and enhance the growth of these technologiesby encouraging interdisciplinary research activities in targeted areas and by facilitating thetransition of these technologies out of the university environment into industry where thetechnologies can be used to enhance job creation.
(f) The Legislature recognizes that one source of funding is in matching state funds withfederal funds and industrial support to provide the needed new technologies.
(2) The Legislature recommends that the governor consider the allocation of economicdevelopment funds for Centers of Excellence to be matched by industry and federal grants on atleast a two-for-one basis for colleges and universities in the state that offer any doctoral degrees.
(3) (a) The Legislature recommends that the funds be allocated on a competitive basis tothe various colleges and universities in the state and to companies working in partnership withcolleges and universities to commercialize their technologies.
(b) The funds made available should be used to support interdisciplinary research inspecialized Centers of Excellence in technologies that are considered to have potential foreconomic development in this state and to help transition these technologies out of the collegesand universities into industry.

Renumbered and Amended by Chapter 382, 2008 General Session