Texas Emerging Technology Fund Accepting New Applications Through April 24th
The Texas Emerging Technology Fund (TETF) has announced new applications for Commercialization Awards will be accepted by the Regional Centers of Innovation and Commercialization (RCIC) in April. The Gulf Coast RCIC serves the 30 county region in southeast Texas, including Houston, College Station, Beaumont, The Woodlands, Galveston and the NASA/JSC area. Since the TETF program was launched in 2005, 41 area companies have qualified for over $50M in assistance from the TETF program.
The TETF program provides equity investments to qualified early stage companies commercializing breakthrough emerging technologies. Companies must have significant collaboration with a Texas Research Institution – which includes Texas Institutions of Higher Education (universities, medical schools, colleges, …), and, for the first time, collaboration with the NASA Johnson Space Center (JSC). Companies can request Commercialization Awards starting at $150,000, with award sizes typically ranging up to $2,500,000. Awarded companies are expected to raise matching funds from other sources, and make a commitment to grow their companies in Texas.
The Gulf Coast RCIC will be holding 3 workshops on the TETF program next week – on Monday (April 2) at the Houston Technology Center, Tuesday (April 3) in the NASA/JSC area, and Wednesday (April 4) on the Texas A&M campus in College Station. Visit the RCIC’s website for more information on these workshops and registration details.
Interested companies located in the Gulf Coast region should review the information available on the Gulf Coast RCIC’s website – www.gulfcoastrcic.org, and register for one of next week’s workshops.
The deadline for submitting applications to the Gulf Coast RCIC for this funding round will be Tuesday, April 24, at 10AM.
In addition to expanding the TETF program’s collaboration criteria to include the NASA/JSC, the TETF program also announced in February an award of $250,000 from the TETF to the Houston Technology Center to help establish HTC’s new JSC Campus, along with matching donations from area sponsors. The HTC and Gulf Coast RCIC currently have 3 staff members located on the JSC Campus in Building 45, with off-site office space provided by the Bay Area Houston Economic Partnership, providing assistance to the Johnson Space Center and the surrounding Bay Area community.