Texas Emerging Technology Fund - Commercialization Awards

The goal of the ETF Commercialization Awards is to grow new small businesses and existing businesses to accelerate new products and services to the marketplace. Through these investments, the goal is to ensure a vibrant economy for Texas and a global leadership position. Commercialization awards provide selected, early-stage investments in new, technology-based, private entrepreneurial entities that collaborate with public or private institutions of higher education in Texas, and which, if successful, may provide significant economic benefit to the state.

Priority for funding is given to proposals that involve emerging scientific or technology fields that have a reasonable probability of enhancing this state 's national and global economic competitiveness. Additional preference is given to proposals that:

• May result in a medical or scientific breakthrough;
• Have previous equity investment into the company;
• Have a demonstrable economic development benefit to this state; or
• Guarantee commercialization or manufacturing in Texas if successful.

Applicants are required to a Guarantee of Action by Participating Entities

Entities participating in a Regional Center of Innovation and Commercialization that receive funding or another incentive shall guarantee by contract with the governor's office that they will perform certain actions expected to benefit the state of Texas.

GUARANTEE OF COMMERCIALIZATION OR MANUFACTURING IN TEXAS. A person or entity awarded money from the fund under this subchapter must guarantee by contract that a substantial percentage of any new or expanded commercialization or manufacturing of any real or intellectual product resulting from the award will be established in this state.

AUTHORIZED EXPENSES. A person awarded money from the fund under this subchapter may use the money to expedite commercialization that will lead to an increase in high-quality jobs in this state and shall use the money in accordance with a contract between the person and the committee. Authorized expenses under this section may include salaries and benefits, travel, consumable supplies, other operating expenses, contracted research and development, capital equipment, construction or renovation of state or private facilities, and workforce training.