At a time when the University of Utah is tapping the philanthropic community to fund scholarships and buildings for research, academics, athletics and cultural amenities, the school this week added another request: funding for technology commercialization.
Money donated to a new Gateway Crimson Innovation Fund will help push university inventions, such as medical devices and treatments, drugs, energy technologies and software, into the marketplace.
Officials are seeking "venture philanthropists" to kick in $2 million for the fund’s first year, according to the U.
"I don’t think corporations or individuals could find a more direct way to have a positive influence on people’s lives and the state of Utah," said Bryan Ritchie, director of the U.’s Technology Commercialization Office, said in a statement. "Donations to this fund help create new companies, jobs and wealth."