Startup and tech innovation pilots seek continued funding to accelerate SBIR conversions and ecosystem events

The subcommittee heard two related requests aimed at strengthening Utah’s early‑stage technology ecosystem.

Trent Mano (Convoy Ventures) described Utah Tech Week as an accessible, grassroots set of events that drew about 20,000 attendees last year and a mix of venture capitalists, founders and nonprofits. Presenters said the event operates on a modest budget (about $250,000 historically) and argued the week brings tens of millions in investor activity to Utah companies and provides a low‑cost stage for smaller founders.

Separately, Linda Cabrales (Nucleus Grow) outlined the Utah Technology Innovation Funding Program, a nonrecourse loan program that supports companies that have won federal SBIR/STTR phase‑1 awards and seek phase‑2 awards or commercialization. She asked for $500,001 one‑time to continue the pilot, described prior leverage (29 loans and follow‑on federal awards) and said several portfolio firms were nearing repayment, enabling the fund to be recycled.

Lawmakers asked about repayment requirements, eligibility criteria and examples of portfolio success; presenters cited a range of technology use cases, from 3‑D imaging in pediatric surgery to sensors embedded in shoe soles used by the U.S. Army. No appropriation decision occurred in the hearing.