SEED Utah stands for “Stimulating the Expansion of Entrepreneur Development. It was a program sponsored by Grow Utah Ventures and Zions Bank that provided matching funds to any community in Utah on the condition that they made entrepreneurial development a community priority.
During the program, SEED offered roughly $1 for every $2 that county governments invested in entrepreneurial development, along with the expertise of Grow Utah Ventures advisers in helping companies get off the ground.
In many cases, the communities involved in the SEED program came to recognize their unique strengths and capabilities to foster entrepreneurism. Grow Utah Ventures led a community wide strategic planning project with region leaders and provided its expertise on what they could do to grow businesses in their area.
The grant money came in two phases. The first round was used to develop a strategy for fostering entrepreneurism and stimulating business growth, followed by additional funding for implementing specific programs and efforts at the county level.
SEED Utah participated with community leaders from across the state to focus their combined energies and resources on stimulating the expansion of entrepreneurism within communities. This reflected the belief that the backbone of Utah’s economy has been and will continue to be, the high growth businesses created by Utah’s entrepreneurial talent.
To keep the momentum of the individual SEED programs going, Industry Acceleration Councils have been set up to take over the work after SEED was implemented by Grow Utah Ventures. These councils are made up of a group of entrepreneur leaders who are committed to follow the SEED road map left in place and to continue to help it grow.
Please click below to learn more about individual SEED programs that have been implemented and to download the final report:
One of the main goals identified by the report is to attract people who currently commute outside the Weber/Davis/Morgan areas to stick around and start their own businesses within the WDM area by creating an atmosphere that is ripe for entrepreneurship by offering support, funding and business resources to these target individuals.
Grow Utah Ventures and SEED Weber Davis Morgan also created the North Front Entrepreneur Alliance, a networking association for entrepreneurs to meet others, get advice, and recognize accomplishments.
“These are exciting times for entrepreneurism in Cache Valley,” said Sandra Emile, Executive Director of the Cache Chamber and one of the key leaders in SEED Cache Valley. “The enthusiasm and support for SEED Cache Valley has united us across all fronts- business, academic and civic. We know this program will complement our overall economic development efforts in years to come.”
The result of SEED Cache Valley is a plan that capitalizes on Cache Valley’s unique ability to foster talented entrepreneurs with innovations that are ripe for commercialization. The final objective is to create within the community growth and high growth entrepreneur led businesses that will provide new jobs at higher wages.
Seed Dixie targets new or existing companies with potential for providing high wages and sustained growth in a national or global market. The initiative is an investment in the future of Washington County entrepreneurs. SEED Dixie and its partners focus on four main points, or pillars: entrepreneurial talent, business opportunity, funding, and support infrastructure.
- Increase general support for entrepreneurism
- Increase entrepreneurial development support resources
- Foster entrepreneurial talent in students as young as high school age
- Improve the skills and abilities of entrepreneurial talent
- Develop and capitalize on ideas, technology and research
- Increase local funding resources for entrepreneurs
- Increase supplemental and outside funding resources
The SEED Uintah Basin strategies combine with the creation of the recently completed Bingham Entrepreneurship and Energy Research Center to accelerate momentum towards expanding the regional economy through innovation.