Fund Encourages Texans to Inquire, Innovate and Inspire
by: Pat Hernandez, June 5, 2009 10:06:39 pm
Governor Perry spoke at the Houston Technology Center, a business accelerator that helps Houston-based emerging technology companies. He announced five local upstart companies — Castle Biosciences, Noninvasix, Pulmotect, SEMMT and SeprOx Corporation — were each awarded 250K dollars from the state's Emerging Technology Fund.
"We're very blessed to have a large number of wonderful institutions that are home to this state, and that are growing an army of bright and talented researchers. The research that they did back in the old days often ended up stuck on a shelf somewhere, collecting dust, rather than getting to the marketplace and impacting people's lives and create jobs and wealth. The Emerging Technology Fund is our solution to that problem ."
Established by Governor Perry and the state legislature in 2005, the Emerging Technology Fund is a 200-million dollar initiative that brings the best scientists and researchers to Texas, attracts high-paying jobs, and helps start-up companies get off the ground faster. The fund was re-authorized this legislative session with 203-million dollars for the next biennium.
"I suspect the ETF is not what most people really visualize when they think about government intervention and government work, which all to often, government stifles motivation and discourages innovation. This fund is different, because it's not about giveaways. Instead, it offers incentives and investment that spur innovation."
To date, the ETF has allocated more than 89-million dollars in funds to start-up companies.
Pat Hernandez, KUHF Houston Public Radio News.