Texas: A Rising Powerhouse in
Biomedical Sciences
The state of Texas is rapidly emerging as a premier state in biomedical sciences.
With 11 tier-one research institutions and a robust network of hospitals, Texas is expanding its research capabilities at an unprecedented pace.
The state's accessible, highly skilled university network and business-friendly environment attract entrepreneurs and companies from across the U.S. and abroad.
In 2021, Texas-based biomedical firms secured $10.6 billion in venture capital funding, primarily from out-of-state investors, and $1.6 billion in National Institutes of Health (NIH) funding.
In 2020, public health institutions and universities invested an extra $1 billion in research and development throughout the state.
Infrastructure costs in Texas are approximately 25% of those in California and Boston, and Texas offers a more favorable tax environment along with substantial support from the state government, including grants and
direct investments through initiatives such as the Cancer Prevention & Research Institute of Texas (CPRIT).
Texas Needs More
In-State Venture Capital To Compete
in the Industry.
The Problem:
Historically, venture capital from Boston/Cambridge, San Francisco/San Jose, and San Diego has drawn Texas-based entrepreneurs and technologies away, depriving the Texas economy of jobs, income, and opportunity.
The Solution:
With ample in-state venture capital supporting Texas entrepreneurs, the entire state is poised to compete with its largest rivals and benefit all Texans.
WHY IT WILL WORK:
Recent advancements in Texas’ biomedical research infrastructure, enhanced university programs, substantial state grants (such as CPRIT), and improved quality of life are reversing these trends. Today, Texas is aggressively increasing its in-state investments, with a goal to raise its share of Texas-originated annual investment capital flows from 25% to 50%.