Texas Emerging Technology Fund (TETF)
In 2003, Texas Legislature approved a $200 million Texas Emerging Technology Fund designed to help Texas create jobs and grow the economy over the long-term.
TETF expedites the development of new technologies, the commercialization of those products and attracting, creating or keeping jobs in technology fields that will form the backbone of Texas' economy for the future. TETF includes three major areas of investment:
- Increasing research collaboration between public and private sector entities utilizing Regional Centers for Innovation and Collaboration where the seeds of an idea can take root in a university lab 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 needed capital to launch their idea.
- Attracting more top-notch research teams from other universities across the U.S. that will assist Texas universities to develop cutting edge technologies and advance R&D.
Richardson Companies Receive Emerging Technology Fund awards
11 Richardson companies have received a total of $13,950,000 million in TETF awards since the fund was established in 2006. Richardson ranks 4th in the state in the number of TETF awards granted, behind Austin, Houston, Dallas, San Antonio. TETF awards were made to these Richardson companies:
University Research Awards
In addition, the University of Texas at Dallas has received over $24 million in technology grants through the TETF in support of 4 significant research projects:
- Nanotech Research Initiative (NRI)
$10M awarded to UT Dallas and UT Arlington, part of a $30M commitment
- Texas Analog Center of Excellence (TxACE)
$4.5M to UT Dallas, partnering with Texas Instruments, Semiconductor Research corporation
- Atomically Precise Manufacturing Consortium (APMC)
$4.7M to UT Dallas, other universities, tech companies & federal agencies
- Future Semiconductor Commercialization (FUSION)
$5M to UT Dallas, UT Austin, UT Southwestern, UT Tyler, Samsung Austin, and South Korean semiconductor consortia
For more information on TETF, see North Texas Regional Center for Innovation and Commercialization.
REDP can assist your company by identifying the appropriate state incentives and will work with local training providers to determine possible training resources.