Not all startups can raise capital. That’s where the EDRLF comes in.
This fund is meant to supply loans to high-tech and manufacturing businesses that have been turned down for traditional bank loans.* Up to a $400,000 loan amount is available, with competitive terms and rates. You need money, and we have it! As a 501(c)(3) not-for-profit, we want to help your business, not monetize it.
The Wayne Brown Institute was founded by the late Dr. Wayne Brown in 1983. Dr. Brown held positions in mechanical engineering and served as Dean of the College of Engineering at the University of Utah. In addition to his academic postings, he was a founder of Kenway Engineering (HK Systems), TerraTek, NPI (Agridyne Technologies), the Utah Innovation Center (the world’s first venture accelerator/incubator) and Utah Ventures (now Pelion Partners, Utah’s first and largest venture fund). By virtue of his academic, government, and business background, Dr. Brown was a leading authority in technological innovation and entrepreneurship. Many of the world’s science/research parks, innovation centers, and incubators have their roots with Dr. Brown. In addition to his many accomplishments, he has affected the role of government in innovation and entrepreneurship as the architect with Roland Tibbitts of the national Small Business Innovation Research (SBIR) program. Later, as head of the State’s Science Council he spearheaded legislation to create the Utah Technology Finance Corporation (UTFC, now Innoventures), and Utah’s Centers of Excellence program. He successfully negotiated with the U. S. government to obtain military land for the establishment of the University of Utah’s Research Park, and key in the establishment of the USU Research Park and Timpanogos technology Park in Orem (Novell campus). His knowledge, experience and passion live on in the Wayne Brown Institute, its staff, its investor-led Board, and its countless supporters.