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Senate advances technology commercialization bill to create Utah innovation lab using Fund of Funds resources
Summary
Senate moved and passed second substitute House Bill 42, to create a Utah innovation lab to help commercialize university research and seed startup activity using money described as coming from the state's Fund of Funds; the measure passed 19–6 after exchange about whether the funding represented taxpayer dollars.
The Utah Senate passed second substitute House Bill 42 on Feb. 17, 2023, a measure to establish a technology commercialization effort — described on the floor as a Utah innovation lab — that would use existing Fund of Funds resources to invest in early‑stage commercialization of university research.
Sponsor Senator Milner said the measure is modeled on programs in other states that blend public and private sector resources and…
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