Gulf Coast RCIC

The Gulf Coast Regional Center of Innovation and Commercialization (Gulf Coast RCIC) was established to service the 30-county Gulf Coast region for the TETF (the $200 million state administered Texas Emerging Technology Fund). The Houston Technology Center is the Gulf Coast RCIC, partnering with the Greater Houston Partnership, Economic Development Organizations and universities throughout the 30-county region. The Gulf Coast RCIC processes applications for TETF Commercialization Grants from companies located within the Gulf Coast region. TETF awards have been announced to forty-four Gulf Coast region companies, eligible to receive up to $54,679,520. All Gulf Coast region awardees are able to take advantage of one year of Client Services from the Houston Technology Center (see profile). For-profit companies that have raised less than $500,000 in prior equity investments are qualified to apply for a Pre-Seed Commercialization Award of up to $250,000. These businesses may be earlier stage companies, with less mature management teams and business plans. The State will reserve $1,000,000 of TETF funding for Pre-Seed awardees. The awardee will receive up to $250,000 for an initial project, and upon project completion can request their remaining TETF funding. The first $500,000 received in TETF funding may be in the form of convertible debt. Businesses receiving Pre-Seed Commercialization Awards may have up to 30 months to raise matching funds from qualified investors. Renewal of the Texas Emerging Technology Fund has been renewed for through August 2013.