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Tue Feb 5, 2013, 12:41 AM

Report: Tech fund firms better at attracting investment than jobs

Companies funded by the Texas Emerging Technology Fund have done a better job of attracting outside investment dollars than of creating jobs, the fund’s 2012 annual report shows.

The state fund has awarded $194.8 million to 137 applicants since the fund’s creation in 2005.

During that time, the award recipients attracted almost $762 million in private investment, federal funding and contributions from other sources. That number grew by 28.6 percent during fiscal year 2012.

The bulk of the so-called “follow-on” money came to biotechnology and life sciences, but those sectors also enjoyed slightly more than half of the state fund’s investment — $103.8 million.

More at http://www.statesman.com/news/business/report-tech-fund-firms-better-at-attracting-invest/nWFwm/ .

Federal funding--isn't that socialism?

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Reply Report: Tech fund firms better at attracting investment than jobs (Original post)
TexasTowelie Feb 2013 OP
Downwinder Feb 2013 #1

Response to TexasTowelie (Original post)

Tue Feb 5, 2013, 06:46 AM

1. $157,605.18 per job.

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