Utah aims to erase hindrances to investing in startups

‘Less government, less bureaucracy,’ Huntsman aide says

Utah’s senior adviser for economic development offered one reason Thursday why outside investors should consider investing in Utah.

"We’re doing our best to get out of your way, quite frankly," said Chris Roybal, Gov. Jon Huntsman Jr.’s top economic adviser. "We’re looking to have less government, less bureaucracy and create an environment for you as entrepreneurs and investors to thrive and grow in Utah."

Roybal’s message may already be out, as roughly 25 private equity firms from around the country on Thursday converged on Salt Lake City for the Utah Capital Connection Conference.

Thomas R. Taylor, president of the MountainWest Capital Network, said a trove of money from private equity firms is chasing too few good deals.

For instance, Sorenson Capital, a $250 million private equity fund based in Salt Lake City, has invested in eight companies — six of which have a presence in Utah — since its launch in 2004.

And Utah, Taylor said, is attracting more attention from outside private equity funds that are realizing the state offers new opportunities.

By Dave Anderton
Deseret Morning News

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