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Teksa Innovations Corp., a fledgling hatchery for high-tech start-ups in San Antonio, has signed up its first company and expects to pick up another three, possibly by the end of August.
Meanwhile, President and Chief Executive Officer Mary Pat Moyer is laying the groundwork for a $5 million round of financing. Since announcing the creation of Teksa in early 1999, she has been meeting with a number of would-be investors here and in Austin, filling them in on the business plan.
"There's been a lot of courtship over this period of time," says Moyer, who is also president and CEO of locally based biotechnology firm Incell Corp., and a part-time professor at the University of Texas Health Science Center at San Antonio.
Currently, Incell is funding the incubator out of its own pocket, Moyer says.
Like similar incubators around the country, Teksa will provide client companies with a team of local technical and business advisers, office and lab space, and, in time, access to Teksa investments, microloans and venture capital contacts. In exchange, Teksa will take up to a 10 percent equity stake in the firms, and a royalty position of up to five percent.
First in line
Teksa's first company is San Antoniobased Cognimetrics Assessment Systems LLC, currently a four-person firm that develops interactive psychological testing...