(1) USTAR shall establish at least one competitive grant program that: (a) is designed to: (i) address market gaps in technology development in the state; or (ii) facilitate research and development of promising technologies; (b) does not overlap with or duplicate other state funded programs; and (c) offers grants, on a competitive basis, to: (i) researchers employed by higher education institutions; (ii) private entities; or (iii) partnerships between researchers employed by higher education institutions and private entities.

(a) is designed to: (i) address market gaps in technology development in the state; or (ii) facilitate research and development of promising technologies;

(i) address market gaps in technology development in the state; or

(ii) facilitate research and development of promising technologies;

(b) does not overlap with or duplicate other state funded programs; and

(c) offers grants, on a competitive basis, to: (i) researchers employed by higher education institutions; (ii) private entities; or (iii) partnerships between researchers employed by higher education institutions and private entities.

(i) researchers employed by higher education institutions;

(ii) private entities; or

(iii) partnerships between researchers employed by higher education institutions and private entities.

(2) In accordance with Title 63G, Chapter 3, Utah Administrative Rulemaking Act, USTAR shall make rules that describe, for each grant program: (a) the purpose; (b) eligibility criteria to receive a grant; (c) how USTAR determines which proposals receive grants; (d) reporting requirements in accordance with Part 7, Reporting by Recipients of USTAR Support; and (e) other information USTAR determines is necessary or appropriate.

(a) the purpose;

(b) eligibility criteria to receive a grant;

(c) how USTAR determines which proposals receive grants;

(d) reporting requirements in accordance with Part 7, Reporting by Recipients of USTAR Support; and

(e) other information USTAR determines is necessary or appropriate.

(3) USTAR: (a) shall solicit proposals for each grant program; and (b) may, subject to legislative appropriation and Subsection 63M-2-502(1)(b), award grants for each program.

(a) shall solicit proposals for each grant program; and

(b) may, subject to legislative appropriation and Subsection 63M-2-502(1)(b), award grants for each program.

(4) In evaluating a grant proposal received in response to a solicitation under this section, USTAR shall consider, as applicable: (a) the extent to which the planned research has the potential for commercialization; (b) the market gap the technology or research fills; and (c) other factors USTAR determines are relevant, important, or necessary.

(a) the extent to which the planned research has the potential for commercialization;

(b) the market gap the technology or research fills; and

(c) other factors USTAR determines are relevant, important, or necessary.

(5) USTAR shall require a recipient of a grant under this section, as a condition of receiving a grant, to comply with the reporting requirements described in: (a) Section 63M-2-702, for a USTAR researcher; or (b) Section 63M-2-703, for a private entity or for a partnership between a USTAR researcher and a private entity.

(a) Section 63M-2-702, for a USTAR researcher; or

(b) Section 63M-2-703, for a private entity or for a partnership between a USTAR researcher and a private entity.

(6) Beginning on July 1, 2019, USTAR: (a) may not establish any new competitive grant programs; (b) may not award new grants related to any existing competitive grant program; and (c) may continue to pay grant money for a grant awarded before July 1, 2019, in accordance with the written terms of the grant.

(a) may not establish any new competitive grant programs;

(b) may not award new grants related to any existing competitive grant program; and

(c) may continue to pay grant money for a grant awarded before July 1, 2019, in accordance with the written terms of the grant.