“Texas’ technology industries continue to thrive, thanks to the environment of innovation we have fostered, in large part through the Texas Emerging Technology Fund, which has helped attract cutting-edge companies to the state,” Gov. Perry said. “The technologies created by these companies hold the potential to provide groundbreaking solutions to many issues we face in our daily lives.”
Biometric Signature ID is receiving a $550,000 investment for the commercialization of its patented identity management products.
This technology uses signature gesture biometrics, which authenticates a user’s identity by how they log in using their mouse or stylus, capturing and comparing the unique way they create their password to their stored profile.
Biometric Signature’s technology provides an improvement to current technology, which simply uses a password and doesn’t truly identify the person inputting it.
The company is working with the University of Texas to commercialize this technology.
FireFly LED, a Texas-based LED lighting company, is receiving a $3 million investment for the commercialization of its full range of smart LED light bulbs that offer a less expensive and more energy-efficient alternative to incandescent and fluorescent bulbs.
These patent-pending bulbs will allow for dramatic cost savings over traditional lighting, and provide an extended life span and better light output performance than comparable products.
The company is working with the University of Texas at Austin for the commercialization of this product.
RadioMedix Inc. is receiving a $2.8 million investment for the development of a new process to manufacture radiopharmaceuticals, or tracers used in the diagnosis and treatment of diseases through positron emission tomography.
RadioMedix’s technology provides a relatively inexpensive and portable alternative to technology that is currently available, and can be located on-site at medical-imaging facilities or research labs.
The company is working with the University of Texas M.D. Anderson Cancer Center to develop this technology.
The TETF is a $200 million initiative created by the Texas Legislature in 2005 at the governor’s request, and reauthorized in 2007 and again in 2009.
A 17-member advisory committee of high-tech leaders, entrepreneurs and research experts reviews potential projects and recommends funding allocations to the governor, lieutenant governor and speaker of the House.
To date, the TETF has allocated more than $193.7 million in funds to 131 early stage companies, and nearly $173 million in grant matching and research superiority funds to Texas universities.
For more information on the TETF, please visit http://www.emergingtechfund.com.