A Salt Lake company manufacturing robotics and a capital formation company have been hon-ored by the Small Business Administration for their contributions to the Small Business Innovation Research Program.
Receiving the Tibbetts Award, named for Roland Tibbetts, considered by many to be the father of the 14-year-old SBIR program, were the Utah Technology Finance Corp., 177 E. 100 South, and Sarcos Inc., 360 Wakara Way.The SBIR program is administered by the SBA, although implemented through several different federal agencies, and is widely acknowledged as producing some of the government's most highly rated research, said Philip Lader, SBA administrator.
According to SBA officials, under the director of Don Welty, executive director, UTFC has started to realize the direction legislators had for the organization when it was organized in 1983. UTFC's mission is to leverage state funds as a catalyst in capital formation for the creation, growth and success of innovative Utah businesses.
In fiscal year 1995, UTFC disbursed $5.9 million of its own money to help Utah businesses, which was 86 percent more than the $3.1 million in fiscal year 1994.
Sarcos is a privately held company formed in 1983 by Stephen C. Jacobsen, an engineering professor at the University of Utah. SBIR funding allowed Sarcos to develop and become the leader in robotic arms, other telerobotic applications and the personnel status monitor system.