Oct. 27, 2006

Perry Announces $4.1 million For the University of Texas Health Science Center in San Antonio

AUSTIN – Gov. Rick Perry today announced a $4.1 million Texas Emerging Technology Fund (TETF) grant for the University of Texas Health Science Center in San Antonio for its research imaging programs. The funding will help establish a Comprehensive Facility for Animal Imaging Research where scientists will use imaging to evaluate new drugs and medical devices prior to and during human trials.

“With this grant we are investing in an established Texas medical institution that is a world leader in the field of research imaging. This investment has the potential to lead to breakthroughs in the treatment of many diseases and create promising commercial applications,” Perry said.

Animal imaging research makes it possible to more quickly study treatments of diseases. What would take 50 to 75 years to study in humans can be achieved in a few years in animals and lead to effective applications to human care. Scientists, students, medical device manufacturers and pharmaceutical companies can conduct research on battlefield conditions as well as discover potential new treatments for a variety of human diseases.

The Texas legislature created the $200 million TETF in 2005 at the governor’s request. Since that time, the fund has awarded more than $48 million in emerging technologies.

A 17-member advisory committee of high-tech leaders, entrepreneurs and research experts reviews potential projects and recommends projects for funding to the Governor, Lieutenant Governor and Speaker of the House.

The TETF program has three main areas of investment:

Increasing research collaboration between public and private sector entities through new Regional Centers of Innovation and Commercialization where the seeds of an idea can take root in a university lab and eventually grow into a new product marketed by a new or expanding firm.
Matching research grants provided by both federal and private sponsors to help innovators acquire the capital they need to bring their idea to life.
Attracting more top-notch research teams from other universities around the nation that will help put Texas universities on the cutting edge of technology research and development.

Many states, including California, Ohio, Florida, Pennsylvania and North Carolina, are pumping billions of dollars into high-tech research and development, and without the Emerging Technology Fund, Texas could be left behind, Perry noted.

“Over the next decade, emerging technologies will generate $3 trillion in revenue worldwide,” Perry said. “The question is, where will those investments be made and who will reap the benefits? Our TETF helps ensure that Texas has the competitive edge to provide greater opportunity, prosperity and a brighter future for all of our people.”