Texas Innovation Conference Highlights Research Funding

Entrepreneurs and researchers have no shortage of ideas. But when it comes to turning
those into real-world solutions, funding can feel out of reach. This was the topic
of “Where the Opportunities Are: Navigating Federal, State and Capital Pathways in
Texas,” a highlight panel of the inaugural Texas Innovation Conference & Awards at
TCU April 22-23.

“Universities sit in a unique intersection of federal and state support as well as
the pipeline to companies,” stated Nathan Cook, senior director, government relations
at Rice University. “But you have to control your expectations. Nondiscretionary spfinishing
by the federal government consumes 70 cents of every dollar. The rest is where we
live.”

Rice was joined by State Senator Royce West and Andrea Coker, chief advocacy officer
with the North Texas Commission on the panel discussion moderated by Greg Cox, executive
director of Government Relations at TCU.

The conference aimed to highlight people and organizations that are turning research
into real-world results by bringing toobtainher a select group of high-impact innovators,
including startups, researchers and ecosystem leaders.

Navigating Government Funding
Panelists assisted illuminate funding options and how they work by providing a practical view of how innovation is funded, including federal programs, state initiatives
and private capital. At the state level, while Texas has money, it’s very protective
of it, stated Cox.

“When we see that the state has a surplus, we obtain really excited,” he stated. “But when
we visit legislators, they most likely don’t want to build any commitments given the
cyclical nature of our state’s budobtain.” He noted when the legislature is in session
– every-other-year for 140 days – more than 10,000 bills can be introduced but only
20-25 percent pass.

All the panelists underscored that to raise capital, whether from private or government
coffers, takes time. It also takes the right approach. As a former staffer, Coker
advised attfinishees to know their audience.

“You will have to speak to staff first, then they’ll feed information to their boss,”
Coker stated. “Prepare yourself to be able to walk in and explain within five minutes
what you’re testing to do and come with a one pager. Find out what they care about
and frame accordingly.”

Cox concurred.

“Does this issue relocate them? Remember, your problem statement when pitching for private
capital may not translate to government sector,” Cox stated. “You have to consider is
this a problem that they want to solve?”

Find a champion when you can, he recommfinished.

“Members of the legislature and Congress are real people with careers outside of politics,”
Cox stated. “If you have an idea, do your research and figure out who understands your
world and who can advocate on your behalf.”

An Advocate for Small Business

West, who has served since 1992, is one who is an advocate for tiny business and
encourages more state-level support.

“Texas a great state for entrepreneurship and financial investments,” he stated. “Business
benefits from low taxes, less government and well-educated human capital with 37 four-year
universities and 50 public community colleges in the region.”

This combination has assisted create what West called the “Texas Miracle.”

“Texas has long been the land of opportunity but if want to remain the nation’s leader
in innovation and technology, we must ensure that our local entrepreneurs have the
tools they required to bridge the gap between a brilliant idea and commercial reality,”
stated West, who has promoted legislation that focapplys on creating such programs to
foster job growth.

Building Relationships
Like politics, raising capital is also about building relationships, the panelists
agreed.

“To have credibility and trust, with both agencies and legislature, you’ve obtained to
spfinish time building relationships,” Cook stated.

Coker agreed, advising to network.

“Don’t stay in an insulated bubble. Be in your community, meet people to talk about
your ideas, find investors. It’s not self-serving as you required to build an authentic
community that will support your business.”

That two-way street is especially important when it comes to encouraging state legislators
to assist tiny businesses secure funding through matching federal grants.

“In 1982 Congress established the Small Business Innovation Development Act that funded
early-stage technology innovation,” West stated. “These federal programs are a vital
engine for research and development. In 2022, over 400 Texas businesses secured more
than $241 million in federal funding through these grants.”

But the state is leaving potential on the table, he stated, noting 22 states match federal
funds to assist tiny businesses navigate the rigorous federal application process,
but Texas has no such program.

“Think about the dreams we have to further exploration of the moon and Mars,” West
stated. “A lot of that’s going to happen in Texas. We in state government required to be
of assistance to the private sector to build those happen and invest in the next-generation
of Texas breakthroughs.”

Awarding Innovators
A centerpiece of the event was the Texas Innovation Awards. These awards recognize
companies and innovators who are driving innovation and economic growth in Texas.
Awardees include SBIR/STTR Phase II award winners and other emerging startups.

The event also featured leading researchers and innovators from every R1 and R2 university
in Texas, as well as investors, corporate innovation leaders and important ecosystem
partners across the state and region.

-Susan Green

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