Representatives from Weber, Davis and Morgan counties aim to reap a half-billion dollars in new business growth with the implementation of the new group, Stimulating the Expansion of Entrepreneurial Development, or SEED.

The tri-county economic development group is a branch of the nonprofit, Grow Utah Ventures, and it debuted Thursday on the Weber State University campus in Ogden at the Lindquist Alumni House.

F. Ann Millner, president of Weber State University, said collaboration between counties gives new entrepreneurs better access to networking, funding, leadership and education.

"We're really trying to build a regional economy. Economies don't really know that there's a county line," Millner said.

The young SEED program, which recently kicked off branches in St. George and Box Elder County, also boasts partnerships with USTAR, American Express, Zions Bank and other public and private investors who want to help new businesses succeed.

"As a community we benefit because we have high paying jobs," Millner said. "If they started in our community, they're going to stay in our community, and they're going to give back to the community."

Alan Hall, founder and chairman of Grow Utah Ventures and a SEED sponsor, said Utah leads the nation in new startups per capita and he envisions a bright future with nearly half a million dollars in venture funds already raised to support new business.

"This is a time to really keep going," Hall said.

Good ideas, talent, money and support aren't always enough to guarantee entrepreneurial success, Hall said.

"Maybe five out of 100 [startups] might make it to five years," Hall said. "We want to increase that ratio of people who succeed."

SEED director T. Craig Bott said the group is targeting new companies with potential for providing high wages and sustained growth in a national or global market.

For more information about free services available to Utah entrepreneurs, go to www.grow utahventures.com.

abrunson@sltrib.com