Investment Firm will Spend up to $25 Million on Technologies, New Building at ERP Campus
Story content courtesy of the University of Houston, US
The University of Houston has signed a deal with a group of investors to commercialize technologies created by its faculty, boosting the UH Energy Research Park as a focal point for entrepreneurial activity in the Houston region.
The deal will be worth as much as $25 million, including $15 million for a new building at the research park, which will house laboratories and startup businesses.
The agreement calls for TCRC to invest a minimum of $3 million and as much as $10 million in technologies developed by UH faculty; the company may also invest in outside technologies. The University and individual faculty members still would be able to form agreements with other companies.