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Incubator, Houston Technology Center Proposes New $100 Million Venture Fund for the Houston Technology Future Fund
April 7th, 2011 No comments
Based in Houston, Texas, the Houston Technology Center is an incubator for new entrepreneurs who are in the tech industry that show promise to become large corporations. The incubator announced on April 5, 2011, that it has proposed a new $100 million venture fund for its Houston Technology Future Fund, which is a fund that the Houston Technology Center has earmarked for the entrepreneurs whom it incubates in its incubation program. The incubator wants to allocate funds from this new future fund to select companies the Houston Technology Center sees fit to disrupt the entire tech industry. The primary candidate entrepreneurs who are to benefit from this fund are primarily early stage tech companies who are within a 30 county region in southern Texas.
The Houston Technology Center is an incubator for south Texas entrepreneurs who need the right education and insight that young entrepreneurs need, as well as access to the necessary capital that young entrepreneurs need to bring their innovative technologies to the market. The incubator focuses on helping entrepreneurs commercialize their product and develop their companies into the position where they have the potential to change the world. The Houston Technology Center has also not gone on without recognition. Many companies which have received funding from the Houston Technology Center have also been recognized by using the tools the incubator has given them. One example is that portfolio company, RecycleMatch was named one of the 100 Most Brilliant Ideas in Entrepreneur Magazine in June 2010.
Other portfolio companies have also received recognition for their efforts and they have all attested that the results come from the insight and valuable lessons they have learned at the Houston Technology Center. The biggest recognition the incubator has received, however, was from Forbes Magazine, which named the Houston Technology Center as one of the Ten Technology Incubators Changing the World.
According to John White, who is both the CEO and general partner at the Houston Technology Future Fund, the fund managed by the Houston Technology Center, the Houston Technology Future Fund will not only allow entrepreneurs to have the funding to commercialize their innovative technologies, but as other investors invest in these fledgeling companies, they will have more potential to provide a high ROI for their investors.
Though Mr. White has a positive out look on the proposal, he is not the only one who is able to give the green light for the $100 million fund. Other members of the incubator’s board of directors include Scott Crist, Managing Partner of Texas Ventures, J. Benton Mayberry, President of Winston Sage Partners, David McWilliams of BoiHouston INC, and Dennis Murphee, who is the Managing Director of Murphee Ventures.
The realization of this new $100 million Houston Technology Future Fund looks bright, since many of the above mentioned people believe that the fund would help investors gain a higher ROI on companies who become clients of the Houston Technology Center. Some of the incubator’s portfolio companies include RecycleMatch, Aptia Systems, Blue Box Health, CO2AL, Cognitas Technologies, the Covelo Group, and many other great tech companies got their head start at the Houston Technology Center.
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