USTAR’s fall round of Technology Acceleration Program (TAP) grants is now open.
Required letters of intent, new for this program, are due August 25, 2017, with submissions closing October 2, 2017. TAP is a competitive research grant program designed for startup and early-stage companies. Anticipated available funding for this round is approximately $2M.
“We are excited with the results that have come from previous rounds of TAP,” said Ivy Estabrooke, PhD, USTAR executive director. “We are seeing strong movement as companies meet their technical milestones and advance their projects along the development pipeline.”
TAP funding is available to Utah-based companies and may be used to address research and development, proof of concept, product validation, and product development. Companies applying for TAP should be at a technology readiness level (TRL) of 3-5. For FY18, USTAR is focused on five technology sectors: aerospace, automation and robotics (including IoT and smart cities technologies), big data and cybersystems, energy and clean technology, and life sciences.
“Utah has a rich technology community that spans all areas of the state,” said Estabrooke. “TAP can be a vital tool for local technology startups seeking initial funding for their businesses. The grants have the ability to move a company closer to additional funding and the marketplace.”
Applicants are evaluated by review panels made up of technical and industry experts. These review panels recommend funding for the projects based on a rubric which includes technical merit, potential economic impact, commercial viability, and team evaluations. Funding is dispersed based on achievement of technical milestones. It is important to note that a letter of intent is mandatory for this round of TAP.
USTAR recently hosted webinars and information sessions about the program. A recording of the presentation as well as the slides can be found at tap.ustar.org, along with the program announcement and information on the application process.