Cloud Computing an Even Bigger Phenomenon Than the Advent of Personal Computing, Google CEO Says

Eric Schmidt, CEO of Google, Addresses Nearly 900 Utah Executives at Utah Technology Council’s 11^th Annual Hall of Fame Celebration Event

SALT LAKE CITY--(BUSINESS WIRE)--“Cloud computing,” the concept of devices connecting to the internet “cloud” to access powerful applications to accomplish whatever they need, is a concept Google CEO Eric Schmidt has been foretelling for the past 10-15 years. Today it is a phenomenon even greater than the advent of personal computing, he says. Schmidt shared his remarks in a couch-side keynote chat with David Bradford, CEO of Fusion-io, with a sell-out crowd of nearly 900 Utah executives at the Utah Technology Council’s (UTC) 11^th Annual Hall of Fame celebration event at the Grand America Hotel in Salt Lake City Friday night.

“We are extremely honored to recognize these tremendous individuals for their outstanding achievements and for the impact they’ve made on technology throughout the world”

In his remarks, Schmidt noted that Utah is the best place in America for starting a business. He also acknowledged Utah’s broadband initiatives in Provo and Salt Lake City as key steps in supporting a knowledge economy that will allow a tremendous new wave of business and technology innovation to occur.

At the event, UTC CEO Richard R. Nelson noted interesting data from a recent UTC survey of 172 current UTC member organizations. Of these 172 companies, 8 percent are currently thriving. More than half of the companies queried — 58 percent — report they are currently growing. Twenty-nine percent are holding steady. And only 5 percent of the 172 — a small minority — report that they are currently in a state of decline.

“Ninety-five percent of our technology companies are thriving, growing or holding steady — a success level that far exceeds the majority of the United States,” Nelson said. “In fact, several national publications have ranked Utah as the region best poised to emerge from the current recession quickly.”

Nelson noted the number of technology companies in Utah has risen dramatically, from several hundred companies in 1999 to more than 5,500 today.

Following the keynote discussion, the UTC formally inducted Greg Butterfield, Managing Partner of SageCreek Partners, and Peter D. Meldrum and Mark H. Skolnick, Ph.D., co-founders of Myriad Genetics, to its 11th Hall of Fame, which honors individuals with ties to Utah who have made key contributions to the technology and life science industries.

“We are extremely honored to recognize these tremendous individuals for their outstanding achievements and for the impact they’ve made on technology throughout the world,” Nelson said.

About Utah Technology Council

Utah’s premier professional association, the Utah Technology Council, has become the essential business resource for life science and high-tech companies seeking to achieve greater success. At its core, UTC exists to foster the Growth of the state’s more than 5,000 technology companies, ensure Utah develops the highest Quality Workforce in the nation, and attract an ever-increasing array of Funding. Members join UTC to share insights with industry peers, counsel with government and academic leaders, and receive help from professional service providers and funding resources. To become a member of this “must join” organization, visit www.utahtechcouncil.org or call 801-568-3500 today.