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NEWS
Oct. 2008
 Come see us at the Clean Tech Conference
Save the date! On May 3 - 7, 2009, join the City of Austin Emerging Technology team in Houston at the Clean Technology Conference & Expo 2009. Stay tuned for a discount registration code for Austin clean tech community members.
Previous News
Austin round-up: The new hotbed for mobile
Read the article about the Austin wireless community by Levi Shapiro in Fierce Mobile Content.
State of Texas Funding Programs
The Governor's Office has released information about the Texas Small Business Fund which provides financing to foster and stimulate the development of small businesses and the Texas Product Development Fund which provides financing to aid in the development, production and commercialization of new or improved products within the state.
Texas Small Business Fund (PDF)
Texas Product Development Fund (PDF)
UT System starts commercialization fund
Austin Business Journal, Dec. 7, 2007
The University of Texas System Board of Regents established a $2 million fund dedicated to the commercialization of products created at UT System institutions. The fund, called the Texas Ignition Program, is designed to accelerate the commercialization of products developed at UT System's 15 institutions.
"Global competitiveness is rapidly changing the role of higher education institutions in the economic development arena and this requires a proactive approach to the protection and translation of intellectual property from discovery to commercialization," says Mark G. Yudof, UT System chancellor. "We believe this program will foster the formation of startup companies and other related activities and eventually contribute greatly to the economic vitality of the state," Yudof adds.
Under the program, UT System institutions are eligible for grants of up to $50,000 for the development of ideas and products with the goal of putting them to market quickly. Grants applicants will be reviewed by a UT System peer-panel, and awarded on a competitive basis. Funds could be used for personnel, equipment, supplies and business plans. In limited circumstances, the money can be used for faculty support and patent costs, according to the UT System. In 2007, the UT System leveraged $1.8 billion in funds on research, 14 startup companies, 117 U.S. Patents and 655 invention disclosures. That investment has spurred the creation of jobs, products and services, according to the UT System.
The state of Texas has two other funds aimed at increasing research and technology transfer -- the Emerging Technology Fund and the Texas Enterprise Fund, both established by Gov. Rick Perry.
ATI Workshop: Emerging Technology Fund and Angel Funding Sources for Early Stage Companies
Jamie Rhodes, CEO of Perceptive Sciences, and Hall Martin, Director of the Central Texas Angel Network, will address the evolving angel funding environment, its impact on Central Texas, and what you need to know to make best use of today's opportunities. Isaac Barchas, Director of the Austin Technology Incubator will speak about the state's Emerging Technology Fund, and what companies need to do to be successful applicants.
Tuesday, Dec. 4, 2007
4 - 5:30 p.m.
University of Texas MCC Auditorium
3925 West Braker Lane Austin, Texas
For more information and to RSVP, please visit the ATI website.
ATI Forms Program to Nurture Startup Bioscience Companies
The Austin Technology Incubator (ATI), a program of the IC2 Institute and The University of Texas at Austin that accelerates early-stage technology companies, has introduced the Bioscience Incubator.
“The Bioscience Incubator is a natural extension for us,” said Isaac Barchas, ATI’s director. According to a 2006 study done by the Milken Institute, The University of Texas System produced more bioscience patents than any other university from 2000-2004.
The City of Austin has invested $125,000 in the new incubator.
“Emerging technology is a fourth pillar of the city’s economic development policy, which is why the city decided to make the investment in ATI’s latest efforts,” said Brewster McCracken, a member of the Austin City Council. “The biotech and life sciences industry is one of the top sources of venture capital funding globally. If Austin is going to remain a first-rate tech city, it has to have a stout biotech component.”
The Bioscience Incubator is the fourth incubator formed inside ATI since it was founded 18 years ago. The others have been Information Technology, Clean Energy and Wireless.
“Specialized incubators allow ATI to provide industry-specific networks and consulting to help our member companies succeed,” Barchas said. “This approach works. Over 70 percent of our recent member companies have attracted investment.”
Barchas, a former member of McKinsey & Co.’s health care leadership group, will be the interim director of the Bioscience Incubator.
He said that the new incubator will “ideally build a bridge between early stage companies’ technology and the investment community.”
Barchas said he welcomes inquiries from Central Texas biosciences entrepreneurs and investors.
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