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State Leaders Announce Emerging Technology Fund Investment in Trauma Care Research

Press Release

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Date:
Location: Austin, TX


State Leaders Announce Emerging Technology Fund Investment in Trauma Care Research

Governor Rick Perry, Lt. Governor David Dewhurst and Speaker Tom Craddick today announced a $5 million investment through the Texas Emerging Technology Fund (TETF) to recruit leading scientists and surgeons in trauma care and next-generation medical technologies to the University of Texas Health Science Center at Houston (UTHSC-H) for the newly-created Center for Transitional Injury Research (CeTIR).

"The Emerging Technology Fund makes Texas a global competitor in drawing the brightest minds in research and innovation to our state," said Gov. Perry. "Medical breakthroughs should never rest on a shelf, but rather be brought to the marketplace to help those in need. Continued expansion of our research and development capabilities in medical technologies will create more jobs, generate substantial capital investments, and most importantly, aid those who are suffering at home and around the world."

In addition to the TETF's investment, UTHSC-H, Memorial Hermann Hospital System and the University of Texas System Medical Foundation have pledged nearly $13 million to establish the CeTIR and attract a world-class team of experts in medical research and trauma care.

"The research and commercialization of new trauma care technologies this center develops will save lives here in Texas, across the country, and on the battlefield where Americans are defending our freedom," said Lt. Gov. Dewhurst. "The center will also enhance Texas' reputation as a national leader in clinical research of emergency medicine that will help attract more industry and capital investment in this critical field."

Each year, 85,000 Texans are hospitalized as a result of traumatic injury and more than 13,000 people die. Nationally, trauma is the leading cause of death in people between one and 44 years old. Trauma injuries cost the United States an estimated $406 billion annually in direct medical expenses ($80 billion), and lost productivity ($360 billion).

"This investment ensures that Texas will continue to be a leader in medical research and innovation." Speaker Tom Craddick said. "Not only will the development of a new generation trauma care products save lives, it will bring professional jobs and attract investment to our state."

As new trauma care and emergency medical technologies are developed, UTHSC-H's commercialization officers will assist in establishing public-private partnerships that will enable these developments to move into the private sector for commercial development.

The TETF is a $200 million initiative created by the Texas Legislature in 2005 and reauthorized in 2007.

A 17-member advisory committee of high- tech leaders, entrepreneurs and research experts reviews potential projects and recommends funding allocations to the Governor, Lt. Governor and Speaker of the House. To date, the TETF has allocated $110 million in funds to Texas companies and universities.


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