Wednesday, October 13, 2010

Perry donor's start-up firm got $4.5M without regional board's OK

Gov. Rick Perry approved a $4.5 million award from the state's technology fund to a company founded by a major campaign donor despite the company's failure to win the endorsement of a regional screening board, The Dallas Morning News has learned. The money was awarded in August to Convergen Lifesciences Inc., founded by Perry contributor David G. Nance. Convergen was allowed to bypass a key part of the Texas Emerging Technology Fund's extensive process for vetting applications, and to proceed for approval to a statewide advisory board appointed by Perry.
Steve McGonigle, James Drew and Ryan McNeill for The Dallas Morning News  http://dallasne.ws/b425G9

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