Monday, March 26, 2012 4:00 (CDT), San Antonio, Texas: Startech Foundation announced today that it is now accepting applications
from south central Texas based technology startups for funding by the Texas Emerging Technology Fund. This announcement represents the fourth investment fund of the nationally
known program created by the State of Texas and is designed to provide early stage seed funding for technology startups, university faculty, and others that have an emerging
technology that may be ready for commercialization.
"Funds may be used for any legitimate business purpose but the primary focus of the fund is to facilitate those technologies that are ready to come off the lab bench and get
into the marketplace." said Jim Poage, President of Startech. "The Texas Emerging Technology Fund has been recognized by other States and national investment groups as a truly
innovative program. In South Texas alone it has helped a number of young companies and universities in the valuable role of adding jobs and launching new technologies. We have
been pleased that south central Texas companies and universities have received almost $43M," Poage continued.
In addition to the Texas Emerging Technology Fund, Startech works with clients coaching them on how to access a wide variety of funding sources including Angel Investors,
Federal Small Business Innovation Research & Small Business Technology Transfer (SBIR/STTR) programs, venture capital and many more.
Those companies interested in applying should contact Ms. Erica Amaya at Startech (210.458.2713; ea@startech1.org) for more details. Startech will be accepting applications
through 11:59PM CDT, Tuesday, April 17, 2012.
Startech Foundation is a private non-profit 501 (c)(3) Texas corporation that exists to Inspire technology innovation and commercialization, Create technology
companies, and Grow them into viable businesses in the South Texas regional economy. Startech offers Venture Innovation, Investment and Collaborative services for Entrepreneurs,
Investors, Researchers, Service Providers and Partners interested in innovation and commercialization. Startech works closely with several funding sources including the South Texas
Angel Network, the Texas Emerging Technology Fund, Venture Capital, SBIR and STTR grants, Microsoft BizSpark, and many others. From 2003 - 2011, Startech portfolio clients have
raised more than $256 million in external financing. For more information visit www.startech1.org.
In 2005, Startech was selected to be the host of the South Texas Regional Center of Innovation and Commercialization (STRCIC) by Governor Rick Perry who signed legislation that created the $200 million Texas Emerging Technology Fund (ETF). The fund provides much needed capital that is targeted for start-up and growth stage technology companies.
The STRCIC encourages new, early and mid-stage technology ventures in the region that qualify for funding to apply. The South Texas region covers a 32-county area that includes: Aransas, Atascosa, Bandera, Bee, Bexar, Blanco, Calhoun, Comal, De Witt, Frio, Gillespie, Goliad, Gonzales, Guadalupe, Jackson, Karnes, Kendall, Kerr, Kimble, Kleberg, Lavaca, Live Oak, Llano, Mason, McMullen, Medina, Nueces, Refugio, San Patricio, San Saba, Victoria, and Wilson counties. (Map)
The goals of the fund are to:
- Expedite innovation and commercialization of research;
- Attract, create or expand private sector entities that will promote a substantial increase in high-quality jobs; and
- Increase higher education applied research capabilities.
The fund is divided into three main areas of investment:
Incentives for Commercialization - Provides incentives for private entities to collaborate with public or private Institutions of Higher Education in Texas on emerging technology projects with a measurable economic benefit to the state.
Research Grant Matching - Provides matching grants to private sector companies that have received funding from outside of Texas for the development of emerging technologies with substantial commercial potential.
Acquisition of Research Superiority - Provides a resource for Texas' public Institutions of Higher Education to attract additional, established, "high profile" researchers as faculty.
To learn more about the ETF visit the Governor's wesite.
Applications for the quarterly funding rounds for Commercialization Awards must be submitted to the STRCIC by the application deadline.
Conflict of Interest Policy - Circumstances may arise in which an applicant believes that STRCIC or its staff have a conflict of interest with respect to its application. In that event, please download and follow the guidance in the State Conflict of Interest Policy.
