Emerging Technology Fund

Emerging Technology Fund (ETF) appropriations for FY 2006-2007

At the request of Governor Perry, the 79th Legislature approved HB1765 which established the Texas Emerging Technology Fund effective September 1, 2005. View the Legislation [78KB PDF]

$100 million from General Revenue - available September 1, 2005
$100 million from Rainy Day fund surplus - estimated to be available September 1, 2006

The Emerging Technology Fund (ETF) shall be allocated as follows:

Fiscal Year 2006 to start September 1, 2005

$50million is reserved to Regional Centers of Innovation and Commercialization project activity.
$25 million is reserved for emerging technology research matching grant activity.
$25 million is reserved for acquisition of research superiority grant activity.

Fiscal Year 2007 to start September 1, 2006 (dependent on available rainy day funds)

$50million is reserved to Regional Centers of Innovation and Commercialization project activity.
$25 million is reserved for emerging technology research matching grant activity.
$25 million is reserved for acquisition of research superiority grant activity.

The Governor may reallocate money from one component of the fund to another component subject to the prior approval of the Lt. Governor and Speaker of the House.

The ETF will have 3 components:

Emerging Technology activity is eligible for funding if:

Will result in creation of high quality new jobs, immediately or over a longer period, in the state if tied to emerging technology; or
Has the potential to result in a medical or scientific breakthrough