Office of the Governor Rick Perry

Texas Emerging Technology Fund

Texas Emerging Technology Fund

In Texas, we understand that high-tech companies don't just happen overnight but are a product of forethought, sound vision and planning, and strategic investments by both the public and private sectors. Through our Emerging Technology Fund, we are bringing the best scientists and researchers to Texas, attracting high-tech jobs and helping start-up companies get off the ground faster.”   -- Gov. Rick Perry

What is the Texas Emerging Technology Fund (TETF)?
The TETF is a $485 million fund created by the Texas Legislature in 2005 at the governor's request and reauthorized in 2007, 2009, 2011 and 2013. To date, the TETF has allocated nearly $220 million in grant matching and research superiority funds to Texas universities and more than $205 million to over 145 early stage companies. Additionally, since the inception of the TETF, more than $2.2 billion in additional investment from other non-state sources has followed on to the TETF investment, more than quadrupling the amount invested by the TETF.

Mission:

  • Make Texas the best place in the nation to pursue the next great idea.
  • Give Texas an unparalleled advantage in the research, development and commercialization of emerging technologies.
  • Bring the best scientists, researchers and innovators to Texas.
  • Help startup companies get off the ground faster and attract high-tech jobs.

TETF Funding Opportunities:

  1. Commercialization Awards: investments in university spin-off or university-related startup companies.
  2. Research Award Matching: funds create consortia which leverage the unique strengths of universities, federal government grant programs, and industry.
  3. Acquisition of Research Superiority: grants to enable public institutions of higher education in Texas to recruit the best research talent in the world.
  4. Regional Centers for Innovation and Commercialization: grants to universities and not-for-profit organizations to support the Texas entrepreneurial ecosystem and to recommend company investments to the TETF Advisory Committee.

All applicants make presentations to a 17-member advisory committee of high-tech leaders, entrepreneurs and research experts who recommend funding allocations to the governor, lieutenant governor and speaker of the house. Meet the TETF Advisory Committee.

After trustee approval, the formal contracting process begins and the applicant becomes part of the TETF portfolio, managed by Office of the Governor staff. Contact TETF staff.

Enabling Legislation: Government Code 490

Annual Reports:

FY 2014 - FY2015 Interim Report
FY2013 Annual Report to the Texas State Legislature on the Texas Emerging Technology Fund.
FY2012 Annual Report to the Texas State Legislature on the Texas Emerging Technology Fund.
FY2011 Annual Report to the Texas State Legislature on the Texas Emerging Technology Fund.