This bill reorganizes the Utah Innovation Lab into the Nucleus Institute and amends the Utah innovation fund.
This bill:
- reorganizes the Utah Innovation Lab and creates the Nucleus Institute (institute);
- requires the formation of a board of directors of the institute and provides for an institute executive director;
- outlines the duties of the institute board and institute executive director;
- amends the governance and structure of the Utah innovation fund (fund) under the institute;
- requires the formation of an investment committee for the fund;
- outlines the duties of the investment committee and fund;
- requires reporting and auditing; and
- makes technical and conforming changes.