USTAR is publishing a new kind of annual report, one that’s in “bite-sized” pieces you might have time to read. We’ll be adding chapters over the next few weeks. Today’s edition covers the USTAR Technology Outreach and Innovation Program.
Information Technology and Renewable Energy incubator opens in St. George
Utah’s first business incubator focused on IT and renewable energy opened its doors in mid-January near the campus of Dixie State College in St. George. A collaborative effort spearheaded by USTAR, the Southern Utah Information Technology and Renewable Energy Incubator (ITRE) helps Utah join several other states and cities investing in the start-up of new businesses focused on high technology, green technology and alternative energy.
Alternative energy and other clean technology could diversify the economy of Southern Utah. ITRE clients receive comprehensive and regular mentoring on a range of business issues.
Incubators: Proven success
High-tech, clean-tech incubators have proven successful in other rural areas around the nation. Recent research suggests that businesses involved in an incubator are successful 87 percent of the time, compared to a success rate for non-incubated companies of less than 60 percent.
“This incubator is part of our effort to diversity the economic base and create quality, new jobs. The SEED Dixie steering committee hopes that this incubator will have as much early success and momentum as they have experienced with two other SEED-initiated programs – Dixie Techs and Dixie Angels,” said Jill Elliss, USTAR Southern Utah technology outreach director.
Collaborative effort forging ahead with first client
The incubator’s first tenant is an information technology company called Truescale Technologies, a cloud computing start-up with four pending patents. The company started with two employees and is already adding three more.
The ITRE is a collaborative effort of USTAR, the Dixie Business Alliance, the Small Business Development Center, SEED Dixie, Washington County Economic Development, Dixie State College, and Dixie Applied Technology College. Internet service provider InfoWest is ITRE’s corporate sponsor.
Impact: USTAR support was both timely and critical in bringing this business resource to So. Utah.
USTAR focus areas:
- Diversify Utah’s economy with high quality jobs
- Build Utah’s innovation infrastructure
- Recruit & grow world-class research talent
- Commercialize technology and promote innovative
