A conversation with David Spencer, President, Mandelbrot Ventures.
Last year, David Spencer successfully sold the company he founded, OnBoard Software to MTC Technologies (NASDAQ®: MTCT), and then went on to be appointed by Governor Rick Perry to the Chairman of the Texas Emerging Technology Fund Advisory Board. He has also started a private holding company, Mandelbrot Ventures, which is aimed at angel investing in emerging technology companies in the San Antonio and South Texas region. And in between of all this, he and his wife, Jennifer, had their fourth child, Samuel.
Aptly named for Benoit Mandelbrot, who is largely responsible for the basic concepts in fractal geometry, it was Mandelbrot who successfully demonstrated that fractals could occur in many different places in both mathematics and elsewhere in nature.
Like Mandelbrot, David Spencer is a highly unconventional thinker and strong believer in chaos theory. But unlike Mandelbrot, David is, at heart an entrepreneur who has his heart and soul into growing and expanding the intellectual wealth in San Antonio.
Over a chicken salad sandwich lunch meeting at our editorial offices at the Olmos Park Pharmacy, David told me that he has one simple goal in his post-OnBoard Software life: “I want to effect a long lasting change in the State of Texas and help create an infrastructure that will help us compete not only nationally, but globally.” While David is passionate about San Antonio, he really sees his role in championing technology economic development statewide. “This is no longer a case of San Antonio vs. Houston vs. Dallas vs. Austin. It’s a case of Texas vs. the world.” David points out that Texas is number 3 in the U.S. in IP (intellectual property) development, and number 14 in commercializing its IP. In other words, Houston- we have a problem- or perhaps as the ever optimistic David sees it, an opportunity.
David’s first step in this direction is heading up a 17-person committee of state-wide leaders who are awarding the first series of funds from the Texas Emerging Technology Fund, a $200 million fund aimed at attacking “the gap” between the formation of an idea or product and the formation of a company around that idea or product. The long range goal of the Fund is to expedite the commercialization of new life-changing inventions out of the lab and into the hands of consumers and improve research at Texas universities.
In the San Antonio region, the SATAI Network is the designated host of the South Texas Regional Commercialization and Innovation Center (STRCIC) who administrates the process of taking applications from companies in South Texas that want to apply to receive funds.
NSA is Bigger Than Toyota
Yes, folks. You read it here first. According to David, while the recent win of having Toyota set up its truck manufacturing plant in San Antonio is very cool thing, a more important economic development is taking hold. Observed David, “Having the NSA (National Security Agency) set up shop at the old Sony plant is just the start of what could be an even greater economic and intellectual boost than that of Toyota. Just look at NSA’s infrastructure in Northern Virginia, and all of the surrounding economic development that took hold after the establishment of their facility, and you have a clue what could be in store for San Antonio.”
As this article went to press (virtual press if you will….) the Governor’s office was going to be announcing the award winners for the initial distribution of funds from the Texas Emerging Technology Fund. To date, there are three companies in San Antonio that will be awarded up to $1,000,000.00 each. Once the awards are made, I will be doing profiles of each of the respective companies.
Contact Information:
David Spencer
Mandelbrot Ventures, Inc.
26610 Harmony Hills
San Antonio, TX 78258
(210) 340-0116 Direct
(866) 276-0698 Fax
dspencer@mandelbrot-ventures.com
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