R856-2-3. Definitions

  (1) "Applicant" means a collaboration between a company and university researcher for a particular project.

  (2) "Awardee(s)" means a project that has been awarded an Industry Partnership Program Grant.

  (3) "Governing authority" means the Utah Science, Technology, and Research Governing Authority.

  (4) "Company" means a privately-owned corporation, limited liability company, partnership, or other business entity or association and:

  (a) does not include an individual, sole proprietorship, or higher-education institution; and,

  (b) is represented by persons at least 18 years old.

  (5) "IPP" means the USTAR Industry Partnership Program, its activities and services.

  (6) "IPP Grant" means the competitive grants awarded and administered as part of the USTAR Industry Partnership Program.

  (7) "Technology" includes applications of scientific research such as inventions, methods, processes, or other material, virtual, or intellectual property.

  (8) "Technology gap" means the disparity between a company's existing technology or technological capacity and what is needed to develop a commercial application for a product.

  (9) "Technology Readiness Level" or "TRL" level means the method of estimating technology maturity used by the Federal Government and is available on the USTAR website.

  (10) "Targeted Industry Sector" means the Utah industry or industries designated as such by USTAR for purposes of eligibility for IPP grants using the selection criteria described in these rules.

  (11) "Commercialization plan" means the strategy or process by which a company will introduce a technology into the market.

  (12) "University" means any public or not-for-profit institution of higher education with its primary location in Utah.

  (13) "USTAR" means the Utah Science, Technology, and Research Initiative.

  (14) "Utah Company" means any company that meets the eligibility criteria