Utah's Innovation Economy
Utah’s thriving innovation ecosystem is a complex community of integrated stakeholders from within the state and across the globe. These stakeholders partner to create Utah’s strong innovation economy.
U Innovators
The University of Utah is a driving force on the state’s economy – pumping in talent, innovation, resources, and revenue. Its inventors - faculty, staff, and students, make the U the largest source of innovation and employment in the state. And, as a major research university, the U serves as a magnetic source for attracting research spending and investment.
Industry
Industry leaders, especially in high-tech, life sciences and advanced manufacturing, are eager to collaborate and invest in Utah’s burgeoning innovation pipeline. Strong partnerships between the U and industry groups such as Silicon Slopes and BioHive help propagate the symbiotic relationships between stakeholder groups in Utah’s innovation economy.
Entrepreneurs
Utah is a hotbed of entrepreneurial activity. These movers and shakers look to the state’s innovation ecosystem network, talent pool and favorable business climate to support and inspire their endeavors. Whether homegrown or a transplant, these driven entrepreneurs value the access to the U’s innovation and ability to explore affordable resources for a startup.
Investors
Utah’s innovation economy provides a variety of industries and stages of investment in which investors can tap. Substantial IPOs, acquisitions and funding and events like the annual Entrepreneur & Investor Summit attract investors to Utah not only to ski, but also to invest, network and mentor.
Ecosystem partners
Stakeholders, such as government, influencers and what could be considered an innovation ecosystem’s foundational building blocks, help the ecosystem leverage and magnify the potential of Utah’s innovation. The strength of an ecosystem can be determined by how well these partners understand the needs and goals of the other stakeholders, and their ability to support them.