The Institute's mission is to improve the human condition through entrepreneurship. This is accomplished with Cooperative Venturing educational programs that transfer experience, knowledge, contacts and capital from the world's leading business and financial organizations to promising early-stage, technology-based companies for the purpose of creating new wealth, jobs and tax base. Formed in 1983 as the Utah Innovation Foundation, a 501(c)(3) non-profit educational organization, the Institute was renamed in 1988 in memory of its founder, Dr. Wayne S. Brown.

Dr. Brown held positions in mechanical engineering and had 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) and Utah Ventures (now UV Partners, Utah's first venture fund). By virtue of his academic 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.

Today, the Institute continues this legacy by educating early-stage, high-technology companies through mentor-based training in the art and science of becoming attractive, viable investments while establishing value added relationships between entrepreneurs, capital providers, and key professionals that specialize in equity capital - backed business. These education-based offerings allow early-stage, high-technology businesses to successfully present their opportunity to investors. In fact, the Institute currently runs the oldest and most successful venture accelerator program in the U.S. and is nationally recognized for its expertise in understanding and applying the venture capital funding process of Silicon Valley to capital poor areas.

The Institute is unique, in that most of its support is from the private sector. Firms such as Deutsche Banc Alex. Brown, International Venture Fund, Silicon Valley Bank, Ernst & Young, KPMG Peat Marwick, and various venture funds and service providers contribute regularly. In addition, many large law firms, and a number of other professional firms support the Institute. Lastly, other organizations such as the Utah State Division of Securities, the Hawaii Strategic Development Corporation, New York Community Investment Corporation, New York City Investment Fund, Community Development Venture Capital Alliance, and many technology trade associations and economic development organizations endorse and support the Institute in its mission.

The Institute does not have an endowment. It relies wholly on the financial support of professional corporations through donations, memberships or sponsorships and fees. In addition, its supporters donate thousands of hours of time to select and train companies as they participate in Cooperative Venturing.