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Austin Ventures has launched an investment program that has its executives knocking on the doors of Fortune 500 companies looking for business opportunities.
The Austin-based venture capital firm intends to work with large companies to create technology start-ups by spinning out new technologies developed within the companies' walls.
Dave Panos joined Austin Ventures as a venture partner to run the new program, which got under way in late October. Panos is already in discussions on deals in Houston, Dallas and Austin, he says.
In today's economy, many large companies are unable to continue funding the development of some products and technologies …