$2.25 Million in Grants Awarded Through Texas Emerging Technology Fund

Texas Governor Rick Perry today announced $2.25 million in awards from the Texas Emerging Technology Fund (TETF) to three technology companies. A 17-member advisory committee of high-tech leaders, entrepreneurs and research experts reviews potential projects and recommends projects for funding to the Governor, Lieutenant Governor and Speaker of the House. All three leaders must then agree on which projects should be funded.

"With these grants, we are investing in Texas companies, the long-term economic health of our economy and keeping Texas competitive with other states investing in emerging technologies," Governor Perry said. "More importantly, though, our investments will accelerate the availability of new technologies that will make life better for Texans in diverse ways."

The TETF awards are going to:

• Endothelix, Inc. -- $1 million for the development of new diagnostic technology which will allow physicians to more accurately, quickly and inexpensively assess patients' cardiovascular health.
• itRobotics, Inc. -- $750,000 to support the development and production of pipe inspection robots, which will enable the inspection of a significant portion of tubular infrastructure for gas, nuclear plants, power plants, and non-energy pipelines.
• Bauhaus, Inc. -- $500,000 to support development and distribution of an animation software solution that replaces hybrid paper and digital methods with a complete digital system for animation and special effects.

The three main areas of investment for the TETF program are increasing research collaboration between public and private sector entities, matching research grants provided by both federal and private sponsors, and attracting more top-notch research teams from other universities around the nation.

"Over the next decade, emerging technologies will generate $3 trillion in revenue worldwide," Perry said. "Our TETF helps ensure that Texas has the competitive edge to provide greater opportunity, prosperity and a brighter future for all of our people."