Two HTC Client Companies Eligible for $3 Million
HOUSTON (August 3, 2012) – The Gulf Coast Regional Center of Innovation and Commercialization (GCRCIC) announced two new Commercialization awards to area start-up companies at the Houston Technology Center (HTC) Technology Champions® event on Friday August 3rd. The companies, Rebellion Photonics and Vapogenix, are eligible to receive up to $3 million in assistance from the Texas Emerging Technology Fund (TETF).
The TETF program was established by Governor Perry and the Texas Legislature in 2005 to attract the best scientists and researchers to Texas, increase high-paying jobs, and help start-up companies get off the ground faster.
“These innovative companies are prime examples of how the TETF supports Houston’s transformation as a global hub of technology innovation and commercialization,” said Walter Ulrich, president and CEO, Houston Technology Center. “We are committed to accelerating the award winners to bring their technologies to Texas—and the world—as quickly as possible.”
The latest TETF award recipients include these HTC client companies:
Rebellion Photonics, a start-up spun out of Rice University in 2010, is commercializing their unique snap-shot hyperspectral video platform. The proprietary snap-shot hyperspectral imaging technology is a revolutionary type of video camera that can identify the chemical composition of objects within the digital image in true real-time (30Hz). Rebellion Photonics currently sells cameras for biomedical research, drone (UAV) markets, and leak imaging for the oil and gas market. The company is seeking to raise venture funds to expand operations and market their new product line for oil rig and refinery safety, the Gas Cloud Imaging camera. Rebellion Photonics has received a TETF Commercialization Award and is eligible to receive up to $1 million.
Vapogenix, in collaboration with UT MD Anderson Cancer Center, is creating a new category of analgesics, based on formulated volatile anesthetics, to treat localized pain without the systemic side effects of existing drugs. Their first product is a quick acting topical analgesic that is substantially faster than competing products and will provide pediatricians and dermatologists a much needed clinical alternative. Successful development of this product will enable the development of longer duration products to treat localized pain. Vapogenix has received a TETF Commercialization Award and is eligible to receive up to $2 million.
About Houston Technology Center
Named by Forbes' as one of "Ten Technology Incubators Changing the World," The Houston Technology Center is the largest technology business incubator and accelerator in Texas, advancing the commercialization of emerging technology companies in the greater Houston area. HTC serves as the nexus of new ideas, technological innovation, and entrepreneurship. As a catalyst for change, economic growth and development, the staff and partners of the Houston Technology Center work closely with entrepreneurs and start-up companies providing them with in-depth strategic and tactical business guidance; connecting them to opportunities, allies, and capital. HTC has established a fully staffed satellite facility at the Johnson Space Center (JSC) to harness the technical know-how and provide business advice, incubation and acceleration services. The goal of this extended campus is to leverage the incredible technologies, capabilities and expertise found in the NASA/JSC community with the commercial industry; and in the process create high technology jobs and a contribute to the economic activity in the area. HTC’s focused sectors: energy, information technology, life sciences, nanotechnology, and NASA/aerospace.
About the Gulf Coast Regional Center of Commercialization and Innovation
The GCRCIC is responsible for accepting applications for Commercialization Awards from the TETF from businesses, located within the Gulf Coast region. The Gulf Coast RCIC reviews each application and submits recommendations to the TETF Advisory Committee. The Gulf Coast RCIC assists with commercialization of the funded technologies, as well as provides private support to the companies and workforce. The GCRCIC also serves as the Bay Area Regional Center of Innovation and Commercialization, providing assistance through the Texas Emerging Technology Fund to the NASA Johnson Space Center and the surrounding community.