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The Texas Emerging Technology Fund (TETF) was created by legislation in 2005 and had its first award given out by 2006. The $200 million is designed to help create jobs and to develop the economy of Texas over the long-term by expediting the development and commercialization of new technologies and attracting and creating jobs in technology fields. It focuses on three main investment areas:

  • increasing research collaboration through new Regional Centers of Innovation and Commercialization
  • matching research grants funds
  • and attracting more top-notch research talent.

As of July 2006, nearly $6 million had been awarded to emerging technology companies. Texas Tech University received the first TETF award, nearly $2 million, to help it become the international leader in agriculture genomics research and development and help make the West Texas region the fiber capital of the world.

As of October 1, 2009, the ETF became the single largest pre-seed investor for emerging technology companies in the entire United States. There are currently over 120 companies being monitored and nearly twenty have made it though the first round of the screening process in this quarter alone. Alan Kirchhoff serves as Director of the ETF and leads a team of eight.

The ETF is situated within the Economic Development sector of the Texas State Government.

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