$1.3 million from Emerging Technology Funds awarded

Awards of more than $1.3 million from the Texas Emerging Technology Fund (TETF) were announced this week by Gov. Rick Perry, with two companies - Resonant Sensors Inc. of Arlington and PrincipleSoft, Inc. of Plano - receiving the grants.

The TETF is a $200 million initiative created by the Texas Legislature in 2005. The recently approved state budget for the 2008-09 biennium includes $75 million in new general revenue for the fund. Added to existing funds, that means $165 million will be available from the fund in 2008-09.

Resonant Sensors will benefit from a $600,000 grant to further develop and commercialize its new class of sensors for use in the production of biomedical compounds and drugs. The award is expected to leverage another $100,000 from the NSF Small Business Innovative Research program. PrincipleSoft will receive $750,000 for further development of multiple layer overlay modulation that will revolutionize lives by enabling a high-speed connection directly to the key people and information an individual is targeting.

"Through these grants, we are elevating our state's emerging technology sector to make Texas a strong competitor in the global marketplace," Perry said.