Gov. Perry Announces Emerging Technology Fund Advisory Committee
Gov. Rick Perry today announced the appointment of 17 high-tech leaders, entrepreneurs and research experts to the advisory committee for the newly created Emerging Technology Fund established by House Bill 1765. The committee will make recommendations to the Governor, Lieutenant Governor and Speaker of the House on collaborations, investments, research grants and recruitment associated with the Emerging Technology Fund.
"I am confident in the expertise and vast experience of these committee members and their enduring commitment to Texas' future," Perry said. "This fund will improve research at our universities, help start-up technology firms get off the ground and significantly reduce the time it takes to move new life-changing inventions out of the lab and into the hands of consumers."
Perry proposed the fund in 2004 and made it a legislative priority in his State of the State Address to the Texas legislature in January. Perry signed into law House Bill 1765, creating the $200 million Texas Emerging Technology Fund, on June 13.
The fund focuses on fostering innovation, research and job creation in emerging high-tech industries like semiconductor manufacturing, biotechnology, nanotechnology, environmental sciences and advanced energy.
"Texas is taking a significant step to ensure that the benefits from technology innovations accrue to Texas colleges, Texas workers and the Texas economy," Perry said. "The emerging Technology Fund will give Texas the competitive edge we need to ensure greater opportunity, prosperity and a brighter future for all of our people."
The Emerging Technology Fund will include three major areas of investment:
* Increasing research and commercialization collaboration between public and private sector entities to develop new Regional Centers of Innovation and Commercialization where the seeds of an idea can take root and eventually grow into a new product marketed by a new firm.
* Matching research grants provided by both federal and private sponsors to help innovators acquire the capital they need to bring their idea to life.
* Attracting more top-notch research teams from other universities around the nation that will help put Texas universities on the cutting edge of technology research and development.
"Over the next decade, emerging technologies will generate $3 trillion in revenue worldwide, thousands of new jobs and revolutionary innovations that will vastly improve our quality of life. With the Emerging Technology Fund, Texas will be at the forefront of this new frontier," Perry said.