February 2, 2014 | Austin American Statesman

Two promising Central Texas technology companies — boosted with taxpayer money from the state’s Emerging Technology Fund — have fallen on hard times, reigniting a debate over whether taxpayers’ money should be invested in risky startups. State officials say they aren’t surprised. Investing in startups, by all accounts, is a risky business. Of the 142 companies receiving taxpayer investments, nine have been purchased or had other successful exits from the tech program while 18 have ceased operations, often failing to repay the state. The jury is out on the others.