Emerging technology is not only enhancing Texas' global competiveness, but it is igniting the economy with the formation of startup companies. OTC serves as the startup catalyst for The University of Texas at Austin, with over 75 startups created since its inception in 1991. These startups (based on UT Austin technologies) play an ever-increasing role as they grow and build the economy, create jobs, and help attract the best scientists and researchers to Texas. In the latest year reported by the Texas Higher Education Coordinating Board, The University of Texas at Austin led the state in institutional startups, creating three times more new companies than any other Texas institution of higher education.
OTC works closely with university inventors and a network of entrepreneurs, venture capitalists, and angel and corporate investors, as well as the State of Texas Emerging Technology Fund, law firms, ATI, and other members of the technology ecosystem, to form new ventures that serve the public interest by finding practical applications for university-developed technologies.
The university actively supports the creation of startups and encourages experienced entrepreneurs and investors to submit startup proposals. OTC will give due consideration to all fiscally sound proposals. OTC is geared to get licenses completed quickly and on terms that are supportive to the startup's business model. University technologies have been licensed to traditional startups as well as to LLCs, partnerships, subchapter S companies, and other corporate structures. The University of Texas at Austin leads the state in institutional startups, with 40-plus currently active startups working to commercialize UT Austin technology.
|Over the past eight fiscal years, The University of Texas at Austin has created a total of 54 new companies to commercialize UT Austin technology.
Source: Texas Higher Education Coordinating Board reports, 2005 through 2010; OTC, 2011-12
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