Gov. Butch Otter wants Idaho to back startup companies

An investment fund would be part of an economic package to nurture new technology and research.

The Idaho Global Entrepreneurial Mission, or iGem http://www.idahotechcouncil.org/dev/itc/node/24 , as the proposal is called, includes a strategy of luring talented researchers to Idaho universities and the Center for Advanced Energy Studies in Idaho Falls. Once they arrive, they’ll research energy, materials science and manufacturing, computer science and bio and agricultural technology – areas where Idaho has a foundation – to develop products and spin off companies.

Officials running USTAR http://www.innovationutah.com/ say they’ve recruited 40 researchers so far, with the promise of competitive salaries and cutting-edge equipment not available in their current laboratories, and also benefits like downhill skiing at their doorstep. So far, Utah’s $75 million investment has leveraged $137 million in grants for federal- or industry-sponsored research, said spokesman Michael O’Malley, who credited USTAR http://www.innovationutah.com/aboutustar.html with producing 15 small companies.

Larsen hopes Idaho’s program will replicate Utah’s success in poaching all-star researchers, promoting collaboration among academia, private companies and government, and helping companies survive "the Valley of Death," where startups must weather severe financial losses before they reach profitability.

BY JOHN MILLER – THE ASSOCIATED PRESS

Full Story: http://www.idahostatesman.com/2011/12/29/1932560/otter-wants-state-to-back-startups.html