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Thursday, September 16, 2010
Austin Tech Jobs Created by TETF Investment
A new round of funding will help create more Austin tech jobs.
The Texas Emerging Technology Fund recently announced that it will invest $1.5 million in FibeRio Corporation. The funding will be used to develop the company's proprietary equipment that fabricates nanofibers.
"Texas' thriving biotechnology sector has given rise to innovative research and technologies, thanks in part to investments through the Texas Emerging Technology Fund," Gov. Rick Perry said. "FibeRio’s technology will help improve the process in which nanofibers are made by improving upon current technology."
Forcespinning - the technology created by FibeRio - helps to increase the speed of nanofiber production. Nanofibers have unique properties that greatly broaden the material's applications and capabilities.
The Forcespinning technology can produce nanowires, nanofibers, and nanotubes without using electrostatic force, which allows for simpler and more versatile nanofiber production.
The TETF was created in 2005 by the Texas Legislature and was reauthorized in 2007 and 2009. The $200 million initiative is supported by a 17-member advisory committee of high-tech leaders, entrepreneurs, and research experts who review potential projects.
To date, TETF has allocated more than $160 million in funding to 114 early state companies, and $161 million in grant matching and research funds to universities throughout Texas.
The Texas Emerging Technology Fund recently announced that it will invest $1.5 million in FibeRio Corporation. The funding will be used to develop the company's proprietary equipment that fabricates nanofibers.
"Texas' thriving biotechnology sector has given rise to innovative research and technologies, thanks in part to investments through the Texas Emerging Technology Fund," Gov. Rick Perry said. "FibeRio’s technology will help improve the process in which nanofibers are made by improving upon current technology."
Forcespinning - the technology created by FibeRio - helps to increase the speed of nanofiber production. Nanofibers have unique properties that greatly broaden the material's applications and capabilities.
The Forcespinning technology can produce nanowires, nanofibers, and nanotubes without using electrostatic force, which allows for simpler and more versatile nanofiber production.
The TETF was created in 2005 by the Texas Legislature and was reauthorized in 2007 and 2009. The $200 million initiative is supported by a 17-member advisory committee of high-tech leaders, entrepreneurs, and research experts who review potential projects.
To date, TETF has allocated more than $160 million in funding to 114 early state companies, and $161 million in grant matching and research funds to universities throughout Texas.
Labels: Austin tech jobs
posted by Jen Carpenter # 9:50 AM 
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