Perry names Austin's Hicks to tech fund panel

January 20, 2011 6:03:38 AM PST
Gov. Rick Perry has named Austin businessman Robert S. Hicks to the advisory committee of the Emerging Technology Fund. Hicks on Wednesday was appointed to replace William E. Morrow on the 17-member panel.

Morrow was the subject of a 2010 Texas Rangers investigation into a stock deal with the tech fund's former director. The Dallas Morning News reports the review found no wrongdoing.

The committee makes recommendations to Texas leaders on which start-up technology projects should be funded with taxpayers funds.

A preliminary state budget plan released Tuesday, as Texas faces a projected shortfall of at least $15 billion, proposes slashing Emerging Technology Fund spending from $109 million to $21 million.

Hicks is president of Austin-based Capstar Partners LLC, which is a private investment firm.