Thursday, May 10, 2007

Nine Gulf Coast Startups Awarded Total of $8.8M

Nine Gulf Coast-area startups have received financial awards totaling $8.8 million from Texas' Emerging Technology Fund, the two agencies responsible for determining the awards announced Wednesday. The Houston Technology Center and the Gulf Coast Regional Center of Innovation and Commercialization chose to award the following Gulf Coast-area companies: Lynntech Inc. ($600,000), CorInnova Inc. ($500,000), Endothelix Inc. ($1 million), itRobotics Inc. ($750,000), NanoComposites Inc. ($1.5 million), Nanospectra Biosciences Inc. ($1.25 million), Carbon Nanotechnologies Inc. ($975,000), PLx Pharma ($2 million) and Molecular LogiX Inc. ($794,520). Texas Gov. Rick Perry established the $200 million Emerging Technology Fund to assist small- to mid-sized technology-oriented startups.