Emerging Tech Fund to Receive $50 million

The Texas Emerging Technology Fund is slated to receive $50 million to continue operations as part of a budget deal. Gov. Rick Perry requested that $69.5 million be allocated to the fund per year, however, negotiations between legislative leaders reduced the amount to $50 million.

Created in 2005, the Texas Emerging Technology Fund has awarded over $190 million to 137 companies, and given an additional $175 million to universities to recruit top-rated researchers.

Read more about the Texas Emerging Technlogy Fund here.