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INVESTING WITH US

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Learn about the essential criteria we require for the companies we invest in and our process for investment. If you believe your innovation, technology, or discovery fulfills our criteria and you'd like to apply for funding, fill out the form found in Apply for Funding. 

Investment Criteria
  1. Incorporated Business Entity (preferably a Delaware C Corp). Incorporation is required for investment but not required for consideration of investment. If needed, we can get a business incorporated quickly if needed.

  2. Relationship with a Utah Institution of Higher Education. This includes any public or private institutions in the state, including technical colleges, professional schools, and universities.

  3. Have principal business operations in Utah. This refers to where your employees are located and what operational activities you house in Utah. While we do not require registration in the state of Utah, we prioritize investments in companies that want to grow, mature, and stay here. 

Apply for Funding

We source companies from various sources, including inbound emails, deal-flow sharing with local venture funds, and partnerships with the commercialization programs at Utah's colleges and universities. If you have a company that meets our criteria and you'd like to apply for funding, fill out this form.

Investment Process

01. Initial Screen

Be sure to attach your initial screen when filling out the form (instructions are listed on the bottom of the linked form). Please keep your initial screen application to only one slide; it should be a high-level report that provides clearly defined key information and findings. 

 

After we receive your completed form and your initial screen, our team will determine whether we want to continue exploring an investment in your company. Incomplete forms or forms that do not include an attached initial screen will not be considered for investment.

02. Next Steps

We'll review your application and determine whether we want to continue exploring an investment in your company. We will let you know our decision, as well as any next steps or recommendations.

03. Full Due Diligence

If we decide to proceed, we will do a full due diligence of your company, and will request additional information, including the bulleted information listed below. Many companies we look at are still in the early stages of development and won't have all the information. In that is your case, we ask that you submit what you have and we will work with you to get additional materials (if needed).

We may request introductions to your advisors, employees, customers, and investors as part of this due diligence process step. We will remain in close contact with you and your team to go over any questions and better understand what support outside of capital your company needs.

  • Pitch deck

  • Management team name, positions, and bios

  • Board member bios (if applicable)

  • Product information: Science/technology, IP status, core features, product road map

  • Market Information: Management market size estimation, headwinds, and tailwinds related to the market

  • List of competitors, company advantage over competitors

  • Customer information: Current customers, sales pipeline, sales metrics (if applicable)

  • Industry feedback

  • Business model: Unit economics, revenue sources, revenue sharing plans, etc.

  • Financials: Historic projected financials (at the very least, the income statement), cash balance, monthly burn, gross margin, zero cash date, etc.

  • Funding to date: Funding sources, amount raised to date, and source of funds, including grants (CAP table if applicable)

  • Deal terms (if applicable)

 

04. Team Due Diligence

After spending up to 4 weeks on full due diligence (timing depends on how quickly your management team provides the requested information), our managing directors and analysts perform a team due diligence review of all materials and reach a consensus on an investment recommendation.

05. Team Recommendation

If we decide to recommend an investment, we will then present the due diligence to our investment committee (which is made up of the same individuals on our Utah Innovation Fund board) to seek approval for an investment.

06. Present to Board for Final Decision and Next Steps

If our board approves the investment, we will contact you and your team to share the good news and discuss the next investment steps. At that time, we will also ask that your company provides us with the following so we can prepare our press releases and social media:

  • Name of the media contact or spokesperson from your company who can speak to media/reporters for interviews about your company and your technology or product. This person should be available for up to three months after we send out a press release so they can respond to any press inquiries. 

  • Your company logo. We prefer a transparent .png, but a .psd file or .ai file is also fine.

  • Approved imagery of the technology or product being funded. Please include a description along with each image submitted describing what is happening in the image. We will include this on any social media channels or submit to press when they request it. 

  • Your social media channels and names of people who you want tagged (with their social media handles), as well as any specific hashtags you want used.

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