Utah Innovation Fund
Venture capitalSalt Lake City · Pre-Seed–Series A · 29 people tracked
Investment thesis
The fund was created to accelerate Utah's economy by investing early and with conviction in early-stage, deep-tech ventures spun out of the state's universities and research institutions. Beyond capital, it provides founders with access to mentorship, networks, and commercialization support, aiming to connect locally developed research to global markets. Its stated goal is to drive economic, scientific, and social returns to Utah, positioning itself as an innovation engine that helps founders move discoveries from the lab bench to business launch.
Source: firm website, verified Aug 3, 2026.
Team · 29 people
from the firm's website & public directoriesWhat they invest in
from 16 of 19 portfolio companiesBiotech ×7AI & Machine Learning ×6Healthtech ×5Deep Tech ×4Hardware ×4Medical Devices ×4Digital Health ×2Enterprise Software ×2
HQs:United States×3
Investments · 19 tracked
founders shown can be your intro pathBy year:2023 · 12022 · 12 dated
BiotechSalt Lake City, US
Michael Fugman(Director)Michael Yu(Director)Noah Nasser(Director)Michael Kirkness(Executive Officer, Director)
Authentiface provides facial authentication technology that replaces passwords, keycards, and credentials with a "Facial Motion Password" combining facial recognition and movement for liveness detection.
AI & Machine LearningCybersecurityHardware
BIOS develops a Universal Neural Interface, a brain-computer interface that connects directly to the peripheral nervous system to enable communication between the brain and robotic limbs or digital devices.
Deep TechMedical DevicesRobotics
Bloom Surgical develops an origami-inspired, single-use laparoscope cleaning attachment that cleans the scope lens inside the abdomen without removing it, using a wiper and irrigation to remove fog, blood, and cautery debris.
HardwareHealthtechMedical Devices
Corventum is a biopharmaceutical company developing therapies that protect the heart from the toxic effects of cancer treatment, allowing patients to continue first-line oncology therapy.
BiotechMedical Devices
Eden Tech develops a patented Reverse Osmosis Centrifuge (ROC), a modular desalination system that produces higher freshwater recovery from high-salinity and complex brines with reduced waste.
CleantechDeep TechHardware
Inherent Biosciences uses AI to analyze epigenetic patterns in sperm to diagnose and predict fertility outcomes such as male infertility, sperm age, embryo quality, and azoospermia.
AI & Machine LearningBiotechDigital HealthSalt Lake City, US
Andrew Olson(Executive Officer)
Lucidity Sciences develops Lumawarp, a machine learning platform built on GPU-parallelizable geometric manifold regularization to train compact, low-latency models at lower cost.
AI & Machine LearningDeep TechEnterprise Software
MVT develops patented microbubble and nanobubble formulations used as ultrasound contrast agents and for ultrasound-mediated therapies, with a lead product (MVT-100) for echocardiography that has completed Phase II trials.
BiotechHealthtechMedical Devices
Paterna Biosciences develops in vitro spermatogenesis (IVS) technology that drives adult testicular stem cells to develop into optimized sperm, aiming to treat male infertility and improve IVF success rates.
BiotechDigital HealthFemTech
HealthtechSouth Jordan, US
DUSTIN WILLIAMS(CHIEF SCIENCE OFFICER)MICHAEL BENJAMIN(CHAIRMAN AND CEO)
BoardSTEPHANIE MORLEY(Director)
Tellus Sensors builds air quality monitoring hardware, including customizable and single-pollutant PM2.5 monitors, along with the CoreDI data modeling platform and AirView dashboards, APIs, and alerts.
Climate TechHardwareIoT
Frequently asked questions
- What stage does Utah Innovation Fund invest at?
- Utah Innovation Fund invests at the Pre-Seed, Seed, Series A stages.
- What sectors does Utah Innovation Fund focus on?
- Utah Innovation Fund focuses on Advanced Manufacturing, Biotech, Data & Infrastructure, Deep Tech, Energy, Enterprise Software, SaaS.
- Where is Utah Innovation Fund located?
- Utah Innovation Fund is headquartered in Salt Lake City, US.
Images
Similar investors
Khosla Ventures is a venture capital firm known for backing bold, contrarian bets in world-class teams that can reshape entire industries.
A globally recognized venture capital firm designed to provide access to highly competitive venture deals to individual investors, consistently recognized for top-decile DPI performance and as one of the most active US venture firms.
Linear Capital is a China-based frontier technology venture fund founded in 2014 by Harry Wang, backing early-stage startups applying advanced technologies to real-world problems.
Diffusion Capital Partners (DCP) is a venture firm that invests in teams building the future through progressive science and technology.
Delft Enterprises B.V. is the investment vehicle of Delft University of Technology (TU Delft) that backs early-stage, technology-based spin-off companies emerging from the university, providing investment, advice and network access.