Nanotechnology Now - Press Release: Houston Technology Center Continues its Strong Support for the Texas Emerging Technology Fund

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Abstract:
HTC Expects that Pause in Accepting Applications is Temporary

Houston Technology Center Continues its Strong Support for the Texas Emerging Technology Fund

Houston, TX | Posted on July 16th, 2010

As stewards of the Texas Emerging Technology Fund (TETF) for this region, the Houston Technology Center continues their strong support and expects that the current moratorium in accepting applications for the fund is temporary.

The Legislature appropriated $203.5 million for the Texas Emerging Technology Fund for the current two- year cycle. In June of this year, the Houston Technology Center announced four companies receiving a total of $6.5 million in commercialization awards in affiliation with the Gulf Coast Regional Center of Innovation and Commercialization from the fund. In the previous four years, the fund has awarded over $38 million to 35 companies in the region.

Walter Ulrich, president of the Houston Technology Center, points out that the TETF currently has the dollars to fully meet its commitments to the current award winners and to previous applicants who are in process.

"The state leadership is fully supportive of this landmark program and my expectation is that the delay of accepting new applications will represent a three-to-six month deferral," stated Walter Ulrich, "We continue unabated working with TETF clients and applicants that are in the pipeline and are also prepared to work with new applicants to the TETF program. This deferral in funding will have no impact on HTC's ongoing operations. We are currently working with 62 HTC client companies and we are accepting applications as usual for the HTC Acceleration Program."

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About Houston Technology Center
Named among Forbes’ top 10 “incubators changing the world,” Houston Technology Center (HTC) is a business accelerator that assists Houston-based emerging technology companies by providing in-depth business guidance, access to capital, professional services, and entrepreneurial education. A 501(c)(3) non-profit organization, HTC fosters innovation and technology commercialization in the Greater Houston area within five key sectors: Energy, Information Technology, Life Sciences, Nanotechnology and NASA/Aerospace technologies. For more information, visit www.houstontech.org.

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Contacts:
Maggie Joplin
Director, Marketing and Communications
Houston Technology Center
713-658-1750

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