New McNair fund to give big boost to HTC clients

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Bob McNair, owner of the Houston Texans

Olivia Pulsinelli

Web producer- Houston Business Journal

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The McNair Group, owned by Houston Texans owner Robert McNair, announced on Dec. 5 the creation of a new fund to invest thousands of dollars in clients of the Houston Technology Center.

The McNair Houston Ignition Fund has a $1 million annual commitment to offer emerging technology companies a $25,000 investment each upon their acceptance as a client of the HTC.

"Houston Technology Center has a proven record of commercializing breakthrough technologies in medicine and life sciences, energy, information technology, nanotechnology and materials, and aerospace," Scott Schwinger, president and CEO of The McNair Group, said in a statement. "These companies benefit society, create good jobs, and further diversify the thriving Houston economy. We are delighted to provide this investment to give these entrepreneurial companies a fast start in our community."

During a Dec. 5 ceremony, Schwinger presented a $25,000 check for the fund's inaugural investment to Stéphane Smith, co-founder and CEO of Integrated Bionics and a Houston Technology Center 2014 Client Company Graduate.

Houston Business Journal profiled Smith and his brother, Yves, among the city's entrepreneurs to watch.

Olivia Pulsinelli is the web producer for the Houston Business Journal's award-winning website. Follow her on Twitter for more.