The TEFT was set up as an incentive to innovation and commercial development of new products and services. Among TEFT recipients is Minimus Spine, a company seeking to produce and sell non-surgical alternatives to spinal treatments. Minimus has partnered with Texas A&M University to bring its latest two patents to the open market. Once commercialized, this breakthrough technology is expected to reduce medical costs as well as greatly improve the quality of life for individuals with herniated or degenerative spinal disks.
TETF grants have also gone to TeleMedicine Up Close, a company seeking to revolutionize bacterial infection identification and optimization of antibiotic dosage. Such technology could reduce costs of prescriptions by getting the type and dosage correct the first time. That would reduce the incidence of reinfection as well.
TETF is not reserved only for medical research and supply companies (or "big pharma"). HydroLogic, Inc. received a TETF grant for its emerging technologies for irrigation and filtering sea water. Given the current states of drought in many counties throughout Texas, this technology will help supply much needed water to the state.
Some TETF companies are successful and end up donating corporate grants to various Science, Technology, Engineering, and Mathematics (STEM) programs. STEM programs are designed to boost Texas K-12 education programs geared towards math and science driven technology and innovation curricula. Among STEM schools in Texas are the Harmony charter schools.
The TETAC holds an important role in the future of the Texas economy. They help developing businesses as well as entice successful, new companies to relocate to Texas.
Perry appointed the following individuals, per his press release:
David L. Miller of Abernathy chair of the committee for a term to expire at the pleasure of the governor. [...] Miller is chief operating officer of Flat Wireless, president of MHK Holdings Inc. and former vice chancellor of research and commercialization for the Texas Tech University System. He is a board member of Infrastructure Networks, the Product Development and Small Business Incubator Board and CASA of the South Plains. Miller received a bachelor's degree from Midwestern State University, a law degree from the Texas Tech University School of Law and a Master of Business Administration from the Texas Tech University Rawls College of Business.
Richard Battle of Lakeway is a published author and vice president of sales for KeyTrak. He is a member of the Texas Judicial Council and vice chairman of the Alpha Kappa Psi Fraternity Board. He is also a board member of the Jon Ben Shepperd Public Leadership Institute, Boy Scouts Capitol Area Council, Keep Austin Beautiful, and the Austin Chapter of the Muscular Dystrophy Association, and past president of the Austin Jaycees. Battle served as a lieutenant colonel in the Texas State Guard. He received a bachelor's degree from the University of Texas at Austin.
Deborah Dalebout-Feo of Austin is co-founder and executive vice president of Optimization Alternatives Limited Inc. and Healthcare Control Systems Inc. She is co-founder of the Dell Children's Women's Trust and St. Gabriel's Catholic School, and a member of the E3 Alliance President's Council. She is a past board member of the Girl Scouts of America Lone Star Council and A Legacy of Giving, and a past volunteer for the University of Texas McComb's School of Business Students in Free Enterprise program, Austin School of Film, St. Andrew's Episcopal School, Center for Child Protection, St. David's Foundation, and Casis Elementary School. Dalebout-Feo received a bachelor's degree from the University of Utah and a master's degree in operations research from the University of California at Berkley.
Susan "Sue" Georgen-Saad of Austin is a certified public accountant (CPA) and private investment consultant. She is a member of the American Institute of CPAs and Texas Society of CPAs, and a mentor for Capital Thought. She is also a volunteer for Family Eldercare and Safeplace. Georgen-Saad received a bachelor's degree from the University of Notre Dame. She is reappointed to the committee.
Randal "Randy" Hill of Baird is a NASCAR team owner and president and CEO of Randy Hill Racing. He is past president and CEO of APT Advanced Trailer and Equipment, a member of the Abilene and Vernon chambers of Commerce and a board member of Disability Resources Inc. He is also a past member of the American Peanut Shellers Association, National Peanut Buying Points Association and Georgia Agribusiness Council. Hill received a bachelor's degree from Abilene Christian University. He is reappointed to the committee.
Munir Lalani of Wichita Falls is president and CEO of Lalani Lodging. He is a board member of the Bank of Commerce in Oklahoma, Commerce Bancorp and Young Life Wichita Falls, and an advisory board member of the Munir Abdul Lalani Center for Entrepreneurship and Free Enterprise. He is a past board member of the Texas Higher Education Coordinating Board, Wichita Falls Metropolitan YMCA, Wichita Falls Board of Commerce and Industry, Wichita Appraisal District Board, North Texas Rehabilitation Center and Priddy Foundation Board of Trustees. He is also past president of the North Texas Restaurant Association and past chair of the Midwestern State University Board of Regents. Lalani received a bachelor's degree from Midwestern State University.
Wesley Terrell of Dallas is an attorney for AT&T. He is a member of the State Bar of Texas, Dallas Bar Association, World Affairs Council of Dallas/Fort Worth, National Black MBA Association, Urban League of Greater Dallas, and Alpha Phi Alpha Fraternity Alumni Chapter. He is a member and past director/treasurer of the J.L. Turner Legal Association and Foundation, and a past member of the U.S. Commission on Civil Rights Texas Advisory Board, City of Pearland Zoning Board of Adjustments and North Dallas Chamber of Commerce. Terrell received a bachelor's degree from Yale University, a law degree from Columbia Law School and a Master of Business Administration from the University of Houston. He is reappointed to the committee.
Richard Williams of Dallas is director of strategy and mergers and acquisitions for Energy Future Holdings. Williams received a bachelor's degree from Texas A&M University. He is reappointed to the committee.