IACMI is a $259 million public-private partnership announced by President Barack Obama in a visit to Clinton, Tennessee, in January 2014. The institute was funded by a $70 million commitment from the US Department of Energy and $189 million from IACMI’s partners. The selected team, led by UT, included 122 partners and connected the world’s leading manufacturers across the supply chain with universities and national laboratories pioneering advanced composites technology and research. The UT Research Foundation established IACMI as a 501(c)(3) nonprofit entity.