HOUSTON TECHNOLOGY CENTER CLIENT COMPANIES TO RECEIVE GRANTS THROUGH THE TEXAS EMERGING TECHNOLOGY FUND
HOUSTON – November 19, 2008 - The Houston Technology Center (HTC), a business accelerator that assists Houston-based emerging technology companies, is excited to announce that two client companies, DNAtriX, Inc. and Smart Imaging Technologies, have each received Pre-seed commercialization awards for $250,000 from the Texas Emerging Technology Fund (ETF), as announced at the Gulf Coast Innovation Conference. As pre-seed awardees, both companies are eligible to receive up to $1 million in assistance from the ETF.
“Technological innovation can mean the difference between economic prosperity and stagnation,” said Walter Ulrich, president and chief executive officer of HTC. “Through its programs, the HTC supports advances in science and technology that lead to the commercialization of companies. This ultimately brings the promise of a better quality of life for not only our local communities but across the globe. When our client companies receive an award such as this to continue their work, we all win,”
The first of the award recipients, DNAtriX, Inc., is a Houston-based biotechnology company focused on the development of an oncoloytic virus platform initially for the treatment of malignant glioma. DNAtriX's lead product, delta24RGD, is a next-generation adenovirus invented by company founder Dr. Juan Fueyo and Dr. Frank McCormick.
“This award will allow us to hit significant milestones in regards to our company’s progress, before we have to go back out to the venture community for additional funding. We believe that is a win for the company and our current and future investors,” said Gray Hancock, director of operations for DNAtriX, Inc.
Smart Imaging Technologies is the second award recipient. Also Houston-based, the company provides software for automated analysis of 2D and 3D images that features Natural Automation™ and enables users without programming skills to automate extraction of information from digital images. Main application markets include Medical Imaging Diagnostics, Nondestructive Testing, Semiconductors and Nanomaterial Research areas. To learn more about Smart Imaging Technologies, visit www.smartimtech.com
“Our company’s ultimate goal has always been to accelerate the discovery process by providing practical and complete solutions that work. With the ETF grant, we will be able to advance our technologies and expand into other markets,” said Vitali Khvatkov, founder and CEO of Smart Imaging Technologies.
In 2005, the Texas Legislature created the Texas ETF, offering $200 million dollars to assist small to mid-size technology companies in launching quickly, expediting the commercialization of new life-changing inventions out of the lab and into the hands of consumers, and improving research at Texas universities. The ETF program has been renewed to fund awards through August 2009.
The HTC serves as the Gulf Coast Regional Center for Innovation and Commercialization (RCIC) for the Texas ETF, collaborating with the Greater Houston Partnership, area universities, community volunteers and economic development organizations within its 30-county region. The Gulf Coast RCIC is responsible for processing all funding applications and supporting emerging technology companies in its region. For more information about the Gulf Coast RCIC, visit www.gulfcoastrcic.org.
About the Houston Technology Center
The Houston Technology Center (HTC) is a business accelerator that assists Houston-based emerging technology companies within several key sectors: Energy, Information Technology, Life Sciences, Nanotechnology and NASA/Aerospace technologies. For more information, visit www.houstontech.org.