Secretary Wilson Announces Five New TETF Investments
Congratulates North Texas RCIC on second anniversary
February 29, 2008
512/ 463-5770
Secretary of State Phil Wilson presents a Texas Emerging
Technology Fund investment to one of five recipients at the
North Texas RCIC Tech Success 2008 event.
RICHARDSON – Secretary of State Phil Wilson joined Senator Florence Shapiro and other local government, business, and university leaders to celebrate the second anniversary of the North Texas Regional Center of Innovation and Commercialization (RCIC). Secretary Wilson also announced five Texas Emerging Technology Fund (TETF) investments in local companies.
“For the past two years, the North Texas RCIC has made an impressive impact on this region,” stated Wilson. “Your leadership in supporting the tech activities in this region has brought more than $32 million in investment to 15 companies in this community, further solidifying Texas’ position as a leader in the emerging technology industries.”
The Texas Emerging Technology Fund was created by the Texas Legislature under the leadership of Governor Rick Perry in 2005 to support Texas’ activities in innovation and the commercialization of new technology. To date, the TETF has invested more than $110 million in Texas companies and universities across the state.
“The Texas Emerging Technology Fund continues to draw new talent to the state, spur the commercialization of university research, and provide visionaries the financial boost they need to launch their companies and products into the marketplace,” said Gov. Perry. “By investing in revolutionary technologies, such as small-scale energy harvesting and nanotech-based pain management treatments, Texas is advancing the development of products that will make a difference in people’s lives while creating jobs for Texans.”
The five companies receiving TETF awards totaling almost $12 million are:
MicroTransponder, of Dallas, Texas – developing the next generation of nanotech-based pain management products.
NetWatch Solutions, of Richardson, Texas – developing and marketing its “System Asset Management System,” which will enable businesses to mitigate losses due to maintenance-induced software “crashes.”
Texas Piezoelectric, of Dallas, Texas – developing and marketing the next generation of “small scale energy harvesting” to create battery-free medical implants and wireless environmental sensors.
Atomically Precise Manufacturing Consortium (APMC), of North Texas – matches funding from the US Defense Advanced Research Projects Agency and APMC member businesses and universities to accelerate the affordable commercialization of nanotechnology products.
Future Semiconductor Commercialization (FUSION), of North Texas – developing, through collaboration amongst member businesses and universities, advancements in microelectronic technologies to produce “hacker-proof” personal ID tags for civilian and defense application as well as nanostructure materials to enhance medical imaging.
The TETF program has three main areas of investment:
- Increasing research collaboration between public and private sector entities through new Regional Centers of Innovation and Commercialization where the seeds of an idea can take root in a university lab and eventually grow into a new product marketed by a new or expanding firm;
- Matching research grants provided by both federal and private sponsors to help innovators acquire the capital they need to bring their idea to life; and
- Attracting more top-notch research teams from other universities around the nation that will help put Texas universities on the cutting edge of technology research and development.
A 17-member advisory committee of high-tech leaders, entrepreneurs and research experts reviews potential TETF projects and recommends funding for projects to the governor, lieutenant governor and speaker of the house.
The 2008-2009 state budget recently passed by the legislature and signed by the governor includes $75 million in new general revenue for the TETF. In addition to previous TETF balances and interest, more than $165 million will be available for the 2008-09 biennium.
Visit the TETF web site for more information.