Houston Technology Center announces the fourth round of the Texas Emerging Technology Fund
FOR IMMEDIATE RELEASE - May 31, 2006 - The Houston Technology Center (HTC) announced today that the Gulf Coast Regional Center of Innovation and Commercialization (GCRCIC) is now accepting applications for the fourth round of funding for the Texas Emerging Technology Fund (TETF) – including Life Science applications.
Early application deadline for the current round of funding is Tuesday, June 20, 2006 10:00 a.m. CST and final application deadline is Tuesday, June 27, 2006, 10:00 a.m. CST.
The GCRCIC will hold a workshop on Tuesday, June 6, 2006 for companies interested in applying for funding by the Texas Emerging Technology Fund. To register or learn more visit www.houstontech.org.
To qualify for a Commercialization Grant from the Texas Emerging Technology Fund, companies must be legally formed and have some prior scientific/technical validation, either via protected IP or prior grant funding. Proposals submitted must have a well-defined collaboration with a Texas university or College and yield a demonstrable economic benefit to the state. The scope of the project should also be defined, along with a commercialization path and a complete business plan. Projects should receive matching funds (hard equity) from collaborating project partners, investors or other sources and a payback to the state must be planned in advance.
Grant requests are typically in the range of $500K to $2.5M (not to exceed $5M). The Gulf Coast RCIC is also seeking pre-seed stage companies seeking grants in the range of $100K to $250K.
Priority will be given to projects that may result in a medical or scientific breakthrough (potentially disruptive technology) or to projects that involve emerging scientific or technology fields that have a reasonable probability of enhancing the state’s national or global economic competitiveness.
For detailed information about the Emerging Technology Fund, visit the Gulf Coast RCIC web site at www.gulfcoastrcic.org.
The Houston Technology Center (HTC) is the Gulf Coast RCIC for the Texas Emerging Technology Fund, collaborating with Greater Houston Partnership (GHP) and all the Economic Development Organizations (EDO) within its 32-county region. The GCRCIC accepts all funding applications within its region, including Life Science applications.
Created in June 2005 by Governor Rick Perry, the $200 million TETF aims to assist small to mid-size technology firms to launch sooner, expedite the commercialization of new life-changing inventions out of the lab and into the hands of consumers and improve research at Texas universities. Seven regional centers and one dedicated to life sciences projects only, are assisting the administration of the fund in Texas by receiving applications from individuals and companies, researching each application and submitting recommendations to the Texas Emerging Technology Advisory Committee in Austin, TX. The Advisory Committee reviews the RCIC approved applications and submits its recommendations to the Governor, Lt. Governor and Speaker who determine quarterly which projects will be funded.
“As we launch the fourth round of funding of the Texas Emerging Technology Fund, we are excited to see our work and efforts come to fruition. The State of Texas is on the verge of announcing the first round of companies selected to receive funding by the ETF and is diligently working to complete processing the applications from the second and third rounds. With every round, we are able to apply lessons we learned and ensure an efficient process and effective execution of the fund’s goals to benefit the emerging technology companies and the State of Texas” said Paul Frison, President and CEO of the Houston Technology Center.
About the Houston Technology Center: Houston Technology Center (HTC) accelerates the commercialization of emerging technology companies in Houston. A 501(C)(3) corporation and a center of entrepreneurship in Houston, HTC assists Houston-based entrepreneurs within several key sectors: Energy, Technology, Life Sciences, Nanotechnology and NASA-originated technologies.
For more information please contact:
Director, Gulf Coast RCIC