April 4, 2025
Funding Sources for Utah Entrepreneurs
Securing funding is essential for businesses or products to move from the idea stage to revenue. From grants and investors to crowdfunding and government programs, the benefits and constraints of each vary based on the business needs and models. Entrepreneurs can also consider combining funding sources to achieve sustainable growth.
Learn about the different sources of funding and what could be right for your business.
Savvy Productions
Savvy Productions, an Emmy-winning video production company, has built a strong reputation for creating high-quality corporate videos, commercials, and TV ads. Despite the challenges of entrepreneurship, founder Stephen Smith credits his success to unwavering dedication, family support, and business development programs. With numerous industry accolades, Savvy Productions thrives in Utah’s vibrant film industry, benefiting from the state’s stunning landscapes and business-friendly environment.
Baugh Entrepreneurship Institute
The Baugh Entrepreneurship Institute at Utah Valley University’s Woodbury School of Business is a driving force for student innovation, recently strengthened by a donation from alumni Chelsea and Casey Baugh. Their support enhances programs that help students launch revenue-generating businesses, with 80% of alums starting ventures in Utah. The Baughs’ investment positions UVU as a key player in the region’s entrepreneurial ecosystem.
Using company data to make informed decisions can be a strong advantage for startups and entrepreneurs aiming for growth. By tracking key metrics such as user engagement, sales, client retention rate, and more, you can make smarter choices and reduce uncertainty. But it’s not just about the numbers — your instincts, what you’re seeing in the market, and your own experience are all part of the equation. You’ll be better equipped to make the right decisions and keep moving forward.
– Brad Bonham, Utah’s Entrepreneur-In-Residence
March Winners
Do you have a business idea? Utah’s Get Started Business Idea Challenge encourages aspiring entrepreneurs to transform their ideas into thriving businesses. The competition is open each month to Utah residents with any idea, awarding winners with $500 in non-equity funding.
March’s Get Started winners include:
Defiant Fungi, InventorSpeak, La Luz Foundation, Lever AI, MoonButter Co, Red Rock Chocolate, Rocky Mtn Brine, ToneTip, and Trigger Hog.
Learn about each winner and how you can join Utah’s thriving startup community.
- How the Startup State Chatbot Can Assist You
- March Founder Feature Spotlights
- Savvy Productions’ Award-Winning Success in Utah’s Film Industry
- Business Elevated Podcast Showcases Utah’s Thriving Entrepreneurial Scene
- Where Women in Utah Can Find Support for Business Growth
- Baugh Family Donation Fuels Next Generation of Entrepreneurs at UVU
- ICYMI: March Newsletter Recap
Thank you to these companies for being a part of Utah’s startup community. Share your story with us for the chance for your company to be featured.
Want this sent right to your inbox? Subscribe to the Startup State Initiative newsletter so you can receive monthly updates on entrepreneur resources, tips, events, and more.