OTC News Archive
Nine Texas Ignition Fund grants awarded
Austin Business Journal
July 14, 2009
Nine technologies developed at University of Texas System institutions were awarded Texas Ignition Fund grants totaling nearly $453,000.
Two of the nine technologies came out of The University of Texas at Austin. One is a device for inducing hypothermia, the other is designed to increase the drug absorption rate of bloodstreams.
The grants are designed to migrate the advancements from the laboratory to the commercial marketplace. The winning entries were awarded grants of $48,000 to $55,000 apiece, officials said.
The grants come from a $2 million fund approved by the UT System Board of Regents in 2007 to speed commercialization of products created at UT System institutions. During four rounds of TIF awards, $1.6 million in grants have been authorized for 29 proposals from 11 UT System institutions, officials said.
TIF awardees report five new startups formed, one of which has received a Texas Emerging Technology Fund commercialization grant. Two more startups are in the process of being formed.