The Austin Technology Incubator (ATI), a business incubator that provides resources and networks for entrepreneurs, reports a $9.8 million impact on Texas’s economy as of the 2018 fiscal year.
ATI is one of 193 incubators in Texas working to give Austin’s entrepreneurial tech companies, which develop energy, building, waste, and transportation technology, mentoring and fundraising support. The group has been able to help 120 companies over its lifespan, taking a 2% stake in each company every time. In the process, ATI has been able to assist in creating over one thousand jobs. A little over one hundred businesses have now moved beyond ATI because they are stable and self-sufficient, and 14 have been acquired by larger corporations.
ATI is funded in part by the U.S. Department of Energy’s State Energy Program funds, as well as the Texas Comptroller State Energy Conservation Office (SECO). SECO has been in partnership with ATI for 18 years now.
“SECO wants to keep the pipeline full of Texas clean energy technologies, but we lack a structured vetting process,” says SECO Director Dub Taylor. “This is where the incubators come in — they provide evaluation, mentoring and connection to valuable networks of investors and customers.”
To learn more about Texas incubators, click here.