R856-1-3. Definitions

  (1) "Applicant" means a company applying for a USTAR TAP Grant.

  (2) "Awardee" means a company that has been awarded a TAP 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) "TAP" means the USTAR Technology Acceleration Program, its activities and services.

  (6) "TAP grant" means the competitive grant funding awarded and administered by USTAR under TAP.

  (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 TAP grants using the selection criteria described in these rules.

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