HTC announced 6th round of funding by the Texas Emerging Technology Fund

FOR IMMEDIATE RELEASE
November 1, 2006

The Houston Technology Center (HTC) announced today that the Gulf Coast Regional Center of Innovation and Commercialization (Gulf Coast RCIC) is now accepting applications for the sixth round of funding for the Texas Emerging Technology Fund (ETF) – including Life Science applications. To date, six companies from the Gulf Coast region have been awarded grants by the ETF and several more are the in review process. The ETF has awarded a total of 14 grants to companies in Texas so far.

The final application deadline is Wednesday, November 29, 2006, 10:00 a.m. CST.  

The Gulf Coast RCIC will hold a workshop on Thursday, November 9, 2006 for companies interested in applying for funding by the Texas Emerging Technology Fund. To register or learn more visit www.gulfcoastrcic.org. 

The Gulf Coast RCIC will be accepting applications for three types of awards from the Texas Emerging Technology Fund:

·         Commercialization Grants – requests typically in the range of $500K to $2.5M (not to exceed $5M)
 
·         Pre-Seed Commercialization Grants – requests up to $250K

·         Non-Consortium Research Matching Grants – matching active grants (such as SBIR, STTR)

To qualify for awards 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. Companies applying for Commercialization Grants 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.

Projects should result in a medical or scientific breakthrough (potentially disruptive technology), or involve emerging scientific or technology fields that have a reasonable probability of enhancing the state’s national or global economic competitiveness. Awards from the ETF will be an equity investment by the State of Texas, in exchange for warrants.  

Companies interested in applying for an ETF award should attend the Applicant Workshop and contact the Gulf Coast RCIC to verify that they meet the ETF funding requirements. For detailed information, visit the Gulf Coast RCIC web site at www.gulfcoastrcic.org. 

Houston Technology Center (HTC) serves as the Gulf Coast RCIC for the $200 million Fund created by Governor Perry, collaborating with Greater Houston Partnership (GHP) and all the Economic Development Organizations (EDO) within its 32-county region. The Gulf Coast RCIC accepts all funding applications within its region, including Life Science applications. The ETF 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.  

“This current round of funding by the ETF follows closely the announcements of six Gulf Coast region companies that were already awarded grants and several others are in review process. We encourage all companies who meet the fund criteria and need financial assistance to apply for grants and let the State of Texas help them launch their business and bring their technological innovations faster to the consumer. With this Fund, the State has proven once again its commitment to assist start up technology companies and the region at large, to offer even greater advantages to local businesses and the community”, said Paul Frison, CEO and President 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. 

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For more information please contact:
Bob Prochnow
Director, Gulf Coast RCIC
(
713) 658-1750
BProchnow@HoustonTech.org

Deborah Mansfield
Associate Director, Gulf Coast RCIC
Author: Bob Prochnow
Phone: (713) 658-1750
Email:
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