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 fifth round of fundi
August 28, 2006
FOR IMMEDIATE RELEASE
The final application deadline is Tuesday, September 12, 2006, 10:00 a.m. CST.
The Gulf Coast RCIC will hold a workshop on Wednesday, September 6, 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.
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.
Awards from the TETF will be an equity investment by the State of Texas, in exchange for warrants.
For detailed information, 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 Gulf Coast RCIC 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.
“The Houston Technology Center congratulates its three Client companies already awarded grants by the Texas Emerging Technology Fund: CorInnova Incorporated, Endothelix, Inc. and itRobotics, Inc., and is looking forward to seeing more companies from the Gulf Coast region join the award recipient list. The State of Texas has again proven its commitment to help local emerging technology companies achieve business successes and we are proud to be part of this effort”, said Paul Frison, CEO and President of the Houston Technology Center.
The Houston Technology Center will recognize Gulf Coast region companies who have received grants from the Texas Emerging Technology Fund in its upcoming Technology Showcase event to be held on September 27, 2007, at the Hyatt Regency Houston. Lieutenant Governor David Dewhurst will deliver the keynote address at the event, discussing progress and plans for the Texas Emerging Technology Fund.
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