Objectives of the Emerging Technology Fund
The Emerging Technology Fund (ETF) was created by the State of Texas to develop and diversify the economy of the state by:
· Expediting innovation and commercialization of research;
· Attracting, creating, or expanding private sector entities that will promote a substantial increase in high-quality jobs; and
·
Increasing
higher
education
applied
technology
research
capabilities.
Eligibility for Funding Consideration
An industry participant is eligible to be considered for funding by the ETF if the activity to be funded:
· Will result in the creation of high-quality new jobs in the State of Texas
· Has the potential to result in a medical or scientific breakthrough.
· Collaborates with a Texas institution of higher education.
Life Science Projects Considered for Funding
In considering proposals for funding, priority will be given to proposals that:
· Involve emerging scientific or technology fields that have a reasonable probability of enhancing the state’s national and global economic competitiveness;
· May result in a medical or scientific breakthrough;
· Are collaborative between any combination of private or non-profit entities and public or private agencies or institutions in the state;
· Are matched with other available funds, including funds from the private or non-profit entity or institution of higher education collaborating on the project; or
· Have a demonstrable economic development benefit to the state.
Entities receiving funding awards from the ETF will be expected to enter into a contract with the Governor’s Office committing to perform specific actions expected to provide benefits to the state, and guaranteeing that a substantial percentage of any new or expanded commercialization or manufacturing of any real or intellectual property product resulting from the award will be established in the state.
The TLSC was established with the purpose of identifying, for potential ETF funding, promising early-stage inventions and discoveries that might not otherwise receive funding due to their stage of development, and to advance those inventions and discoveries to the stage necessary to attract the private investment required to progress them through later stages of development and to commercialization.
The TLSC will consider proposals for the funding of eligible activities relating to the development from discovery to proof-of-concept of therapeutics, diagnostics, medical devices, life sciences research and discovery tools, veterinary medicine, telemedicine, and agricultural biotechnology.
The TLSC will not typically consider proposals for the funding of research or discovery efforts to identify a potential product. In addition, in light of the TLSC’s charge to identify proposals enabling the advancement of inventions and discoveries that might not otherwise receive funding to the stage necessary to attract private investment, the TLSC will not typically recommend for funding proposals from publicly-traded companies or other applicants that already possess or have access to private investment capital to fund such activities.
In the therapeutics field, the TLSC will principally consider proposals relating to the development of potential therapeutic products in stages ranging from preclinical pharmacology, toxicology, and pharmacokinetics studies in preparation for filing an Investigational New Drug (IND) application, up to and including proof of concept clinical trials. Generally, however, the TLSC will not recommend proposals relating to development beyond an initial Phase 2a proof of concept clinical trial.
In
the
medical
device
field,
the
TLSC
will
principally
consider
proposals
relating
to
the
development
of
potential
medical
devices
in
stages
ranging
from
the preclinical
stage
up
to
and
including
the
development
of a
working
prototype.
The
same
standards
will
apply
to
medical
devices
with
diagnostics
applications.
For
diagnostics
developed
independent
of a
medical
device,
the TLSC
will
principally
consider
proposals
relating
to
the
development
of
potential
diagnostic
products
in
stages
ranging
from
preclinical
research
up
to
and
including
the
clinical
proof-of-concept
stage.
In
the
fields
of
life
sciences
research
and
discovery
tools,
telemedicine
and
agricultural
biotechnology
(including,
but
not
limited
to,
transgenic
crops,
veterinary
therapeutics
and
vaccines,
plant-made
pharmaceuticals,
and
food
sciences),
in
which
stages
of
development
may
be
less
well
defined
than
for
therapeutics,
diagnostics
and
medical
devices,
the
TLSC
will
consider
proposals
relating
to
the
development
of
potential
products
in
stages
up
to
proof
of
concept,
with
the
expectation
that
the
completion
of
the
proposed
project
would
materially
advance
the
development
of
the
product
to a
key
milestone
(i.e.,
to
subsequent
funding
or
to
commercialization).
The TLSC will take into account, in making recommendations in any of these fields, the extent to which the proposal provides evidence of:
· The applicant’s ownership or control of appropriate intellectual property rights;
· The participation of one or more public or private institutions of higher education in the state as collaborators with the applicant in the proposal, as required for ETF funding;
· The existence of (or meaningful commitments for) funding from other sources that would be available to leverage ETF funding for the proposal; and
· The applicant’s commitment and ability to achieve the priorities and requirements established for ETF funding described above.
