is San Antonio’s champion for driving economic development in and around emerging technologies. We fund and develop innovative ventures, building San Antonio’s bioscience and technology economy.
The Texas Research & Technology Foundation (TRTF), has acted as the technology-based economic developer for the City of San Antonio since its establishment in 1984. The TRTF is actively engaged with the City of San Antonio and Bexar County, acting as a major stakeholder for driving economic development around emerging technologies, funding innovative ventures, and helping to build the regional bioscience, cybersecurity, and high-technology economies.
The TRTF owns and develops the Texas Research Park in West San Antonio. Over the last twenty-three years, The TRTF has received contributions for infrastructure and facilities exceeding $25 million. These contributions have drawn additional investments for university and institutions, bringing the total value of the Texas Research Park to over $110 million. The Research Park is home to the University of Texas Barshop Institute for Longevity and Aging, a 158-acre Microsoft Data Center Campus, and a number of bioscience manufacturing enterprises. Over the years, several ventures have been incubated successfully within The Research Park. Including: ILEX Oncology, acquired by Genzyme for over $1 billion; Evestra Inc., now expanding drug and device manufacturing operations locally with a European strategic partner; Biomedical Enterprises, recently acquired by a Johnson & Johnson subsidiary, and Texas Human Biologics, recently acquired by Globus Medical, which plans a dramatic expansion of human tissue manufacturing operations locally.
The TRTF seeks to support the growth and development of high-tech, cybersecurity, and biotech industry sectors in the City and County by enhancing and leveraging the capabilities of the university and research institution assets and supplying early-stage investment capital and commercialization expertise. Currently, the TRTF has many stakeholders in the community and region, including the City of San Antonio, Bexar County, the University of Texas Health Science Center at San Antonio, the University of Texas at San Antonio, the University of Texas Rio Grande Valley, the Texas Biomedical Research Institute, the Southwest Research Institute, Trinity University, Institute for Surgical Research, and various other military medical commands.
With that goal in mind, the TRTF has invested in six start-up and small bioscience ventures as well as two technology based venture funds. These ventures were successfully incubated for the first 4 years, and graduated to larger facilities. All continue to successfully execute their business plans.
In 2015 the TRTF re-established the McDermott Pre-Seed Fund as the McDermott Legacy Fund to continue investing in emerging technology ventures. To date, the Fund has invested in 31 small, growing bioscience and technology ventures, either through direct investment, or through investment in local venture capital funds.
VelocityTX will have programs designed to encourage and nurture emerging technologies in the San Antonio area. The purposes of VelocityTX will be to:
The TRTF team includes individuals with deep experience in economic development, business development, entrepreneurship, and commercialization of technologies.
Leading the efforts is the CEO and President of the TRTF & VelocityTX, Randy Harig. Mr. Harig has forty years of experience in the medical industry. As a serial entrepreneur, Mr. Harig has created several enterprises, most notably in the medical device and supply sector and will oversee all activities of the TRTF/Velocity team as well as lead all fund-raising efforts.
York Duncan, former CEO and President of the TRTF, will lead all activities related to the Texas Research Park and the newly acquired Merchant’s Ice property, to include construction-related projects. Mr. Duncan has been with TRTF for nearly 28 years, leading a number of development projects within the Research Park. Projects include: the mid-1990’s TRTF/CTRCRF pilot manufacturing facility that eventually involved the creation of over 300 jobs. He also led a similar project for an agile manufacturing facility, partially funded by a CDBG grant and an Advanced Research Project Agency grant in collaboration with UT Edinburg during that same timeframe. The establishment of the Defense Transformation Institute, LLC in 2004 to help the City of San Antonio leverage military assets for local economic development.
William “Bill” Cone, formerly the Director of Coastal Bend Business Innovation Center at Texas A&M University – Corpus Christi after retiring the first time in 2010. Previously, Mr. Cone was founder and CEO of 4 startup community banks in Houston, Austin, The Woodlands and New Braunfels, Texas. Citizens Bank, New Braunfels sold after 10 years of profitable operations. He spent 15 years with Norwest/Wells Fargo as managing officer for New Braunfels, San Marcos, Sequin, Canyon Lake offices and promoted to Regional President for the Heart of Texas region with over 50 locations, 800 employees, and approximately $3 billion in 2010. Mr. Cone is also a founder of the South Coast Angel Network in Corpus Christi, Texas, and a founding member of the San Antonio Angel Network now known as Alamo Angel Network.
Vice Chairman / Head of Investment Committee
President / CEO
Head of Finance Committee
Head of Inspiration Committee
Head of Real Estate Committee
Head of Compliance Committee