Posted on 12/11/2007 3:45:59 PM PST by Dubya
Despite failure, governor defends emerging technology fund
AUSTIN — A company that received $3 million from Gov. Rick Perry's Emerging Technology Fund to develop a high-tech cooling device has closed down.
NanoCoolers Inc., an Austin company founded in 2002, is the first firm to fail after receiving a grant from the state fund. It was working on a thermoelectric cooling system that would help cool semiconductors.
The Texas Democratic Party criticized the Republican governor over the failure Monday, saying it proves "that his slush funds need more accountability."
(Excerpt) Read more at chron.com ...
How do people get “free money” ? I sure would like some too.
Remember these magic words:
"Nano-"
"Hydrogen Energy"
"MEMS"
The old Magic Words used to be "World Wide Web". Before that they were "South Sea" and "Tulip Bulbs".
If your broker ever uses the Magic Words in a churn pitch, fire it on the spot and sell out, because you are dealing with a crook or an idiot.
Sadly, MEMS has lost its sheen, at least with Silicon Valley VCs.
Thank Heavens for the sakes of all the Little Peoples' 401(k)'s.
Now for the other two. Oh. I forgot the Residuals and the bad mortgages..There is always something.
I would agree, but I’m in a MEMS start-up...
So was I. And nanophase materials, and hydrogen fuels.
I hope you do better....sigh...
They are not BAD, it's just the exaggeration and rush to market and the hype that gets people hurt. They do not wait for the Lab to finish and prove enough, and things that are really questions are touted as answers.
Hmmmm. My new tagline...
Flattered and honored.
I should have thought of that motto when I wrote proposals...I coulda BEEN something.
Pay off the right people.
We have not succeeded in answering all of your questions.
Indeed, the answers we have found only serve to raise a whole new set of questions.
In many ways we are as confused as ever, but,
We would like to think that we are confused on a higher level, and about more important things...
Government should stop investing our money and stick to paving the roads.
Hey, a startup failed. 90% of them do. Must be a slow news day...or perhaps a Republican who the media can tar for the failure of another.
The democrats are mad because the money wasn't "invested" in welfare...
I think we have a winner here.
I still remember fuming, years ago, upon reading in _Commerce Business Daily_:
"Study of the Three Toed Desert Tortoise.(ONLY Dr. Whomever is an authority on the Three Toed Desert Tortoise.):$100,000 "
Must have been Big Somebody's cousin, etc...
Which can always be resolved by funding or venture capital.
Eventually.
LOL. Another example of Perry’s crony capitalism at work.
It's ironic that you'd say that about Gov. Goodhair. He's trying to give a 99 year lease of Texas roads to a foreign company.
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