Utah Innovation Fund

Utah Innovation Fund was established in late 2023 as a state-backed venture capital fund with $15 million in initial capital. Its mission is to support and fund promising startups—especially those commercializing technologies from Utah’s higher education institutions—in sectors including healthcare, life sciences, advanced manufacturing, energy/natural resources, aerospace & defense, emerging tech, and outdoor products. The fund has already invested in several local biotech/life science firms such as Inherent Biosciences (male infertility diagnostics), Rebel Medicine (non-opioid anesthetic), and 3Helix (“bioACTIVE” collagen-hybridizing peptide therapeutics). It also supports non-biotech deep tech like water desalination through Eden Technologies. The fund provides both financial investment and mentorship/coaching to help bring academic discoveries into the market.