Biometric Signature ID has entered history as part of the innovative Texas Emerging Technology Fund (TETF), a program created to incubate companies throughout the state and make Texas a home for invention.
The Texas Emerging Technology Fund program was begun by Governor Rick Perry in 2005 and was ended by Governor Greg Abbott in 2015. In its decade long history, the Texas Emerging Technology fund awarded over 130 selected companies over $200 million in seed money. During this period, the fund was recognized as the leading state venture capital fund focused on early-stage investments. The fund focused on technology and biotechnology and also provide funds to universities involved in promising research.
Private investments spurred by TETF awards haven’t been calculated by are believed to exceed $1B.
Biometric Signature ID in Lewisville, Texas was recognized as the maker of a “breakthrough technology” for its gesture biometric method of identifying online users with a password that is drawn, not typed. TETF awarded BSI over $500,000 to continue development of biometric products, pursue commercialization and expand operations.
BSI’s flagship product BioSig-ID “provides an improvement to current technology,” the Fund stated.
Since that investment, further investors have provided BSI with capital to expand operations and continue to develop new biometric solutions. BSI’s most notable contribution to biometrics is the ability to reset its password through the use of dynamic or gesture biometrics. Unlike physical biometrics such as fingerprints, iris, facial recognition and voice, BioSig-ID’s password offers an alternative to the user of invasive body data that may one day be hacked. The elegant solution of BioSig-ID offers the first true path forward toward a privacy sensitive biometric. Because BioSig-ID requires no hardware or software downloads by users, it is uniquely poised to gain market share by companies newly attuned to consumer demands for privacy and transparency on usage of their personal data.