The Texas Emerging Technology Fund (TETF) will work in collaboration with the Center for the Advancement of Science in Space (CASIS) and the Governor’s Office of Aerospace and Aviation to support entrepreneurial ventures in Texas that are looking to utilize the International Space Station (ISS) in the development of innovative commercial projects to improve life on earth.
The role of the TETF in this endeavor will be to provide a portfolio of early-stage companies, public private consortia, and centers of excellence that CASIS will match in funding in order to maximize the funding of projects that will use the ISS U.S. National Laboratory, a segment managed by CASIS. The Governor’s Office of Aerospace and Aviation will also assist by identifying potential companies for the project.
“Today’s announcement creates an exciting opportunity for Texas’ entrepreneurs, engineers, and scientists,” said CASIS President and Executive Director Gregory H. Johnson. “We are thrilled to be partnering with the Texas Emerging Technology Fund to help businesses throughout Texas bring about discoveries in various scientific disciplines that may include nanosciences, personalized medicine, technology development, and even remote sensing to better understand our planet.”
The purpose of the partnership between CASIS’s funding and TETF’s investment in several projects is to assist the creation of new businesses and jobs, as well as the diversification of the research portfolio of the ISS National Lab to include more Texas-based companies. As a result of this collaboration, TEFT and CASIS will grant several million dollars in awards to support Texas start-ups over time.
The CASIS follow-on funding to TETF investments in various projects will attempt to assist in the creation of new businesses and jobs within the state of Texas, while diversifying the research portfolio onboard the ISS National Lab. Life sciences, healthcare and energy are fields in which several ventures are already being considered by both TETF and CASIS for potential flight projects.
“This collaboration will open the door to incredible research possibilities and build upon the rich space history in Texas, allowing businesses to take a leadership role in the emerging market of space commercialization,” Johnson added.
“Texas continues to be a leader in innovative technologies that develop products to help improve the lives of Texans and others around the globe,” Gov. Rick Perry said. “This collaboration between TETF and CASIS can further accelerate the benefits of marketplace solutions to real world problems facing our citizens, State, and Nation.”