By October 1, 2009, the ETF was the single largest pre-seed investor for emerging technology companies in the entire United States.
RCICs work closely with applicants in assisting with ETF proposal development, post-proposal debriefings, and commercialization activities.
In addition, RCICs are a strong focal point to increasing cooperation and spurring collaboration between industrial, financial, and academic entities.
[8] Cardiospectra, Inc., an ETF portfolio company, was acquired by Volcano Corporation in December 2007 for $25M in cash with an additional $38M available upon the achievement of specific milestones.
You can visit the TETF website at: http://www.emergingtechfund.com ETF has consistently maintained an extremely low analyst to project investment ratio.
An October 2010 article by the Dallas Morning News editorial board argued for fundamental reform in how the fund works.
Although the board considered it "a valuable program", it remarked that "other states have tried to keep politicians at arm's length from the selection and funding process... Texas needs to do the same".
[2] In response to criticisms, Governor Perry has said that it "is a pretty rare occurrence" for him to know that political supporters have connections to firms that receive funding.
Many involved in the ETF process firmly believe the implications and criticisms of the press, most notably the Dallas Morning News, to be "inaccurate and ignoring the hundreds of individuals around the state that freely devote their time, energy and efforts to the process to ensure that Texas is pushing the technological envelope that will lead to scientific breakthroughs and a stronger economy.
The Texas state auditor's report of 2011 was not complete, in that job creation and valuation methodology remain opaque up to the present day.