Utah scales Summit Venture Studio

University of Utah unveiled a venture capital fund of undisclosed size on Tuesday to drive a new accelerator, Summit Venture Studio (SVS), which is focused on university-founded software developers.
SVS will provide early-stage funding and coaching for software startups as they validate their concepts and chart a course toward market.
The initiative runs under the oversight of University of Utah’s commercialisation and industry engagement office: Partners for Innovation, Ventures, Outreach & Technology (Pivot) Center.
SVS will join Pivot Center at the outset of the innovation process to screen software-related invention disclosures for their commercial potential.
Participants will then receive dedicated resources and mentoring in areas such as product validation and software development. SVS will also connect entrepreneurs to potential business and distribution partners.
Peter Djokovich, a mentor-in-residence at Pivot Center’s tech transfer office – Center for Technology and Venture Commercialisation (TVC) – is co-managing director of SVS, working alongside Taylor Bench, TVC’s director of new ventures and investments.
Djokovich said: “I have led teams that have been successfully innovating global enterprise software here in Utah for many decades.
“We prioritise SVS’s engagement and contribution to the Utah innovation community by attracting national and global investor capital, attention from corporate licensee partners and the broader technology transfer community and serving as a catalyst for our highly-regarded local Utah talent.”