Gov. Perry Announces $9.2 Million in TETF Investments in Three Companies
Thanks everyone for being here today.
Before we get started, I want to make a brief statement regarding the incident at the University of Texas this morning.
We understand there was a shooter on University of Texas campus this morning who is now deceased.
Additional reports of what transpired continue to flow in, but this is an ongoing investigation by law enforcement at this time.
I want to thank campus officials and law enforcement including the Austin Police Department, DPS and others for their swift action that protected the students and faculty on campus this morning.
As always, they were highly-professional and swift in their response and we are blessed to have such brave peace officers protecting our citizens.
I want to thank everyone for being here this morning as we announce another significant step in the development of Texas and San Antonio as a biotechnology hub and job creator.
When Mir Imran committed to expanding in Texas we all knew great things were coming our way and, today, some of them are arriving with jobs not far behind.
I'm here today to announce Texas is investing $9.2 million through our Emerging Technology Fund in three new start-ups created by InCube Labs.
This is precisely the kind of investment for which the ETF was created strengthening our state's high-tech economy by supporting small companies during the critical phase between earliest innovation and market viability.
Thanks to the Emerging Technology Fund and our state's stronger than average economy three new start-ups are coming to Texas from California adding to our momentum and, ultimately, creating jobs.Corhythm is researching a bold new treatment for atrial fibrillation a serious condition that can lead to stroke or heart failure.
The implant they're developing promises a better life for 3 million Americans and countless more around the world.
Neurolink is developing an implant that can predict and prevent seizures in those suffering from epilepsy providing hope for a million Americans whose symptoms are resistant to drug treatment.
F.E.3 is in the process of creating a skin patch that delivers much needed iron supplements to those with iron-deficiency anemia a condition that affects more than 14 million Americans most of them women.
In addition to easing pain and suffering around the country and around the planet these companies represent the latest additions to a rapidly growing segment of the Texas economy. Like so many other companies from across the country and around the world. InCube sees the potential for high-tech growth in Texas.
That potential is not something we can take for granted.
In the not too distant past, it was not uncommon for great ideas born in Texas universities and Texas laboratories to look elsewhere for the support they needed to become great businesses.
The ETF has helped change that dynamic.
Since its creation in 2005, the ETF has invested more than $169 million in 117 early-stage companies along with $161 million in research grants to Texas universities.
Each of those investments strengthens Texas moving us closer to being the undisputed leader in high tech solutions to key health concerns.
Our state is blessed with a native pool of intelligent, experienced and talented individuals but we're adding to their numbers with strategic ETF investments that attract top flight researchers from around the world and improve the chances of even more inventions, innovations and cures.
Our state's biotechnology sector is getting stronger by the day with large companies like Medtronic which last year announced plans to bring 1,400 new jobs to San Antonio to upstarts like those we're bringing on board today.
Combined with our centers of excellence in cancer research in Houston, San Antonio, and, of course, Dallas we're building some serious momentum.
That momentum is leading us to the point where brilliant ideas will go from insight to design and testing to production all within the borders of our state.
The ETF is a team effort including my office the Lieutenant Governor's and the Speaker of the House, San Antonio's own Joe Straus represented here today by Jesse Ancira.
However, the ETF is not a top-down organization.
Most of the work begins with local officials Regional Chambers and RCICs all the way up to our advisory committee who do the real heavy lifting when it comes to identifying our investment opportunities.
We're joined today by two members of that committee Dr. C. Mauli Agrawal and John Schrock Sr.
These individuals and their fellow committee members do important work behind the scenes and deserve credit for announcements like today's.
So, Mauli, John, thank you and your associates for all your hard work in helping make today's announcement and so many others possible.
Now, I'd like to introduce the driving force behind InCube Labs someone whose very presence in Texas is a strong indicator we're on the right track Mir Imran.
Thank you Commissioner and thank you all for being here today.
Now we'd be happy to answer questions about this announcement from our friends in the working press here today.
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