In 2005, the SATAI Network was selected to be the host of the South Texas Regional Center of Innovation and Commercialization (STRCIC) by Governor Rick Perry who signed legislation that created the $200 million Texas Emerging Technology Fund (ETF). The fund provides much needed capital that is targeted for start-up and growth stage technology companies.
The goals of the new fund are to:
- Expedite innovation and commercialization of research;
- Attract, create or expand private sector entities that will promote a substantial increase in high-quality jobs; and
- Increase higher education applied research capabilities.
The fund is divided into three main areas of investment:
- Incentives for Commercialization - Provides incentives for private entities to collaborate with public or private Institutions of Higher Education in Texas on emerging technology projects with a measurable economic benefit to the state.
- Research Grant Matching - Provides matching grants to private sector companies that have receive funding from outside of Texas for the development of emerging technologies with substantial commercial potential.
- Acquisition of Research Superiority - Provides a resource for Texas' public Institutions of Higher Education to attracting additional, established, "high profile" researchers as faculty.
