“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.

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.

“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.