In June 2005, the Texas Legislature established a Texas “Emerging Technology Fund”, with $200M of state funds to be made available over the 2006-07 fiscal years.  In September of 2007, ETF II was legislated allocating $193M over the biennium (9/07 - 8/09).  The primary goals established for the ETF are:

• Expediting innovations and their commercialization
• Attracting, creating or expanding private sector entities that will promote substantial increases in high quality jobs
• Increasing Texas higher education applied research capabilities
• Attracting and retaining applied research experts for Texas Institutions of Higher Education

Priority will be given to emerging technology projects that have a reasonable probability of enhancing Texas global competitiveness, that are collaborative and/or matched with non-state funds, that have a demonstrable economic development benefit, and/or that may result in a significant medical or scientific breakthrough.

A specific amount of ETF funds are designated per division to be allocated accordingly:

• $135M to provide matching funds for the commercialization of new innovations
• $19M for grant matching for the development of emerging technologies with substantial commercial potential
• $39M to attract and hire “research superiority” for Texas Institutions of Higher Education through recruiting specializations, “high profile” researchers as faculty

Central management of the ETF is through the Governor’s office as assisted by a blue-ribbon panel of 17 individuals, the “ETF Committee” appointed by the Governor from around the state.  In addition, seven regions of the state have been established to administer the program through a “Regional Center of Innovation and Commercialization”.  For locations and map visit www.emergingtechfund.com