The FY12 Business, Economic Development and Labor budget approved by lawmakers includes $25.7 million for USTAR, the state-funded initiative to grow a knowledge-based economy. This is the same amount recommended by Gov. Gary Herbert, but down from FY11 projected spending of $35.4 million. That amount included some ARRA funding from previous years, however. Research Teams will receive $23 million and $1.9 million is slated for Technology Outreach.
USTAR's recent annual report points to impressive returns for the state, especially over the last six months, during which time USTAR researchers increased grant funding by 50 percent. Since its inception in 2007, USTAR researchers have received $66 million in out-of-state funding. In the last two years, the outreach team helped Utah companies secure $35 million in outside investment, the majority coming from angel and venture capital investors.
To read the full, original article click on this link: SSTI - SSTI Weekly Digest
