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Gateway Crimson Innovation Fund
A venture philanthropy fund at the University of UtahDonate
The University of Utah is an active laboratory for innovation and has become a leader in technological, scientific, and medical discovery. The University's Technology & Venture Commercialization (TVC) has become a leader in the commercialization of these discoveries. This success is a result of TVC's ability to vet early stage technologies, de-risk opportunities, and organize teams to find marketable applications of these technologies. TVC invites private individuals and companies to participate in this exciting process and multiply the power of their gifts, which they can do by making a financial contribution to the Gateway Crimson Innovation Fund.
Purposes of the Fund
The Fund is designed to confer long-term benefits upon the University, its faculty and students, local communities and the public at large. To fulfill this purpose, TVC's Executive Director will have discretion to allocate funds donated by generous contributors to support TVC's efforts to fulfill its mission, purpose and vision. Following are several of TVC's key objectives.
Encourage Research and Evaluation
TVC strives to quickly and efficiently identify projects worthy of research efforts, evaluate results of new University innovations and subsidize further research for the most promising technologies. In addition to vetting and de-risking University technologies, TVC seeks to identify inventions having the greatest potential for further development and commercialization and to selectively support start-up and emerging growth companies that have licensed University technologies, resulting in additional revenues to the University or its supporting organizations.
Provide a unique educational experience for students
Student involvement is an important part of TVC's efforts with emerging technologies. Students participate in the evaluation and de-risking of University technologies or technologies in which the University has an interest, thus enjoying a unique, real-world educational experience. Additional support allocated to these efforts will enable TVC to increase student participation. Employers value this type of hands-on experience, which often serves as a bridge to permanent employment by the technology licensee or similar employer following graduation.
Drive economic growth in Utah
TVC's mission positively impacts economic development in Utah. These impacts include (1) creating skilled jobs for University graduates and others living in the community and (2) matching start-up and emerging growth companies and other entities in which the University has an interest with business leaders (often donors) who share their expertise and business acumen, act as mentors to students and newly formed management teams, or serve on advisory boards or in other capacities for these entities.
By identifying and cultivating inventions that fill a need in the marketplace, TVC helps ensure that the research and innovation at the University make a meaningful impact and have practical applications that benefit society through economic development and cutting-edge products and services.
Further the mission of the University
As the number of successful technologies from the University expands, TVC and the University will continue to grow an "ecosystem" of innovation. As a result, we anticipate that human and financial capital will continue to be drawn to the University, leading to additional research, innovation, and success. The University's students and faculty will continue to be involved in the research and development of new technologies. We believe successful commercialization efforts add to the prestige of the University and help the University continue to attract the students and faculty that will help expand the innovation pipeline. Ultimately, we anticipate that this cycle will further establish the University as one of a handful of technology innovation "super centers."
In addition, as the University itself invests in successful emerging technologies, we anticipate that the University can then multiply the benefits of the financial contributions of donors. In this way, a donation today can benefit the University and its educational purposes many times over.
We encourage you to be a part of this exciting new Fund. For more information and details, contact us at 801-581-7792.