Houston Technology Center Unveils $1 Million Commitment for Major Innovation Prize

Goradia Innovation Prize recognizes the best innovations from leading Texas Gulf Coast universities and research institutions

May 13, 2010, 10:15 ET from Houston Technology Center

HOUSTON, May 13 /PRNewswire/ -- Houston Technology Center (HTC), a business accelerator and the largest business incubator in Texas, is unveiling the Goradia Innovation Prize to be awarded to early stage companies that have commercialized, or are close to commercializing, innovative technology within the Gulf Coast region. This major innovation prize will be announced by Walter Ulrich, president and CEO of HTC at their 7th annual gala, which takes place this evening at the Omni Hotel.

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"The Goradia Innovation Prize is a game-changer for the Houston Technology Center and for our community. It will encourage and accelerate building new businesses based on the best research from UH and other regional universities," said Dr. Renu Khator, Chancellor, University of Houston System and member of the organization's board of directors.

The HTC is pleased to receive this generous commitment from Mr. Vijay Goradia, his wife, Dr. Marie Goradia, and their family, to fund a $1 million innovation prize over the next 10 years. Specifically, the funding will assist early-stage companies from the academic arena in achieving commercialization at a more rapid rate.

"The Goradia Innovation Price is meant to inspire entrepreneurialism, support the Gulf Coast region with job growth, and take innovation the last mile to reach customers, consumers and patients," said Ulrich. 

The first Goradia Innovation Prizes will be awarded on September 30 at the Gulf Coast Innovation Conference & Showcase (GCIC&S), HTC's annual event that showcases its client companies and graduates in an expo format.

"GCIC&S brings together Gulf Coast academic and research institutions to highlight trends around the commercialization of technology," continued Ulrich. "We felt this would be the perfect venue to announce the first recipients of the Goradia Innovation Prize."

Vijay Goradia is the founder and chairman of Vinmar International, a $3 billion global distributor of chemicals and polymers. He has been recognized as Ernst &Young Master Entrepreneur for the Southwest Region, Top Businessman from the South Asian Chamber of Commerce, and Paul Harris Humanitarian by Rotary International. He is on the Houston Technology Center Board of Directors and is co-chair of this year's Red, White and Blue Gala, "A Celebration of Entrepreneurs." Marie Goradia has a Doctorate in Biotechnology.

Join in supporting HTC's mission of accelerating emerging technology companies in Energy, Life Sciences, Information Technology, Nanotechnology and Aerospace. For more information about the Goradia Prize or HTC's Gulf Coast Innovation Conference & Showcase (GCIC&S), please visit http://www.houstontech.org or call 713-658-1750.

About Houston Technology Center

Named among Forbes' top 10 "incubators changing the world," Houston Technology Center (HTC) is a business accelerator that assists Houston-based emerging technology companies by providing in-depth business guidance, access to capital and service providers, and education. A 501(c)(3) non-profit organization, HTC fosters innovation and technology commercialization in the Greater Houston area within five key sectors: Energy, Information Technology, Life Sciences, Nanotechnology and NASA/Aerospace technologies. For more information, visit www.houstontech.org.

Media Contact:

LaVonne Carlson

Houston Technology Center

(832) 476-9235


SOURCE Houston Technology Center