The Utah Governor’s Office of Economic Development (GOED) recently announced Dinesh C. Patel, Ph.D, managing director of Patel Family Investments as the recipient of the governor’s medal for ‘Science and Technology Lifetime Achievement’.
Utah Governor Gary R. Herbert presented the award at the 2020 Utah Economic & Energy Summit (UEES) on Oct. 26, according to a press release from the Governor’s office.
The summit is organized by the Utah Governor’s Office of Economic Development, Governor’s Office of Energy Development, World Trade Center Utah, and Salt Lake Chamber.
According to a press release by GOED, Patel was presented the award for making significant contributions to Utah’s economic development, to local communities and industries.
He co-founded Utah-based TheraTech Inc., pioneering technologies used to administer controlled, time-release medicine, ultimately leading to a 1999 $350 million acquisition.
He then co-founded Salus Therapeutics, a Utah biotechnology company that developed anti-sense pharmaceuticals, also ending in a successful acquisition.
Today, Patel is the managing director of Patel Family Investments, overseeing a portfolio of over 25 early-stage companies and 12 private equity/venture funds, many of which are Utah-based.
UEES is an annual one-day event, where the state’s best and brightest government and business leaders gather to discuss economic development trends and topics, the press release said.
In 2020, the Summit combined the governor’s economic development and energy offices and the Utah Global Forum to create one super-summit. Due to COVID-19, the 2020 Summit was an all-virtual experience, broadcast live on Oct. 26 from The Grand America Hotel.
Keynote speakers addressed economic opportunities and challenges during plenary sessions.