Qcue Lands $1M from the ETF
0 comments / Posted on 22. Oct, 2009 by Bryan Menell in Enterprise
The State of Texas has awarded $1,000,000 to Qcue, a member company of the Austin Technology Incubator, through the Texas Emerging Technology Fund (ETF). The investment was announced today at the Gulf Coast Regional Center of Innovation and Commercialization.
Qcue develops dynamic pricing software that helps sports and entertainment organizations adjust ticket prices to evolving market conditions. In early 2009, Major League Baseball’s San Francisco Giants became the first professional sports franchise to implement Qcue’s dynamic pricing solution. The success of the Giants’ dynamic pricing initiative has led to deals with other major league organizations, including a recent announcement with the National Hockey League’s Dallas Stars.
“This investment from the State of Texas makes a big statement about the positive impact innovative pricing strategies can have on consumers and local economies,” said Barry Kahn, CEO of Qcue. “We look forward to helping more organizations implement creative, cost-effective pricing strategies to get more fans out to ballparks and stadiums across the country.”
Qcue joined the Austin Technology Incubator in May 2008. “Qcue is what the Emerging Technology Fund is all about: taking innovation from the university environment and getting it into companies where it can have a breakthrough impact,” said Isaac Barchas, Director of The Austin Technology Incubator.
The ETF is a $200 million initiative created by the Texas Legislature in 2005. Qcue was awarded the funds after an in-depth analysis of the company’s market and financial opportunity, technology potential, management team and economic impact to Texas.
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Posted by Bryan Menell
http://austinstartup.com |