The Greater Austin Chamber announces the launch of two new initiatives today to help economic growth in Central Texas. The first effort is the creation of a Technology Division to be led by Vice Chairman of Technology, Randy Baker. Baker is the President and Founder of Tuanis Technology.

“The Technology Sector is a large percentage of our businesses and workforce,” said Baker. “This alliance will help strengthen the industry in our region and help promote development.”

The Technology Division will work with the Chamber’s economic development efforts to grow the Central Texas technology sector by growing existing companies and attracting new technology companies. Baker has created an umbrella committee named the AusTec Alliance which will work to create a shared vision on the future of Austin’s technology community. The AusTec Alliance plans to accomplish this by:

• Unite technology related organizations in the region to work collaboratively on economic development (job creation) efforts for the technology industry.
• Synchronize chamber technology efforts to insure the chamber and the tech industry are working towards a shared vision. Provide input, advice and direction to the Chamber’s management team relating to tech industry economic development efforts of the region.
• Work with local entrepreneurs and young companies to grow their organizations, creating more gazelles.
• Work collaboratively with Opportunity Austin to insure strategic support of the technology industry.
• Bridge the gap between the technology companies and the traditional business in the community.
• Provide the community with a unified voice for the technology industry. Lobby on behalf of the tech industry to local and state government
• Provide a central forum of thought leadership for technology industry.

Tim Crowley, Chair of the Greater Austin Chamber and President of Austin Community Banking Group, Frost Bank explained “Since the 1980s, the Chamber has been working to grow the technology sector through its economic development activities. It makes sense for the Chamber to establish a visible leadership for the technology sector since we have been working on behalf of this industry for more than twenty years.”

The second initiative is the Central Texas Angel Network (CTAN) which aims to help local entrepreneurs gain access to capital to start their businesses. This initiative is directed at providing quality, early-stage investment opportunities for accredited Central Texas investors. CTAN will be an additional benefit to the entrepreneurs and young companies in the technology industry and non-technology sectors. By creating a network of high net worth individuals in Central Texas who are looking for investment opportunities, CTAN will work with the Central Texas Regional Center of Innovation and Commercialization (CT-RCIC), the Texas Technology Fund, and the Universities to identify opportunities in early stages of development.

“Angels are necessary to keep the start-up environment thriving in the region,” said Jamie Rhodes, Chair of CTAN and CEO of Perceptive Sciences Corporation. “With this group, businesses will no longer have to look outside Austin to find angel funding and central Texas angel investors will have access to quality deal flow without leaving town.”

The Chamber’s Opportunity Austin initiative, now in its third year, is a five-year, five-county economic development plan to create 72,000 jobs and a $14 billion positive economic impact on the economy. Jobs created in 2004 and 2005 total 47,600.