Development center seeds Texas startups

Development center seeds Texas startups

Startech, a for-profit firm that helps develop high-technology companies, has pooled the resources of five companies and the University of Texas at Dallas (Dallas, TX) with funds from a group of venture-capital firms to create the Photonic Development Center. The center will offer both money and counsel to emerging companies in the optoelectronics industry. The participating telecommunications companies include ADC Communications (Minneapolis, MN), Alcatel (Richardson, TX), Fujitsu Network Communications (Richardson, TX), MCI Worldcom (Jackson, MS), and Nortel Networks (Brampton, Ontario, Canada). The initial seed fund will contain $4 million. In late 1999, the center will move to a 40,000-sq ft facility in Richardson, TX.