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 David A. Spencer
David Spencer is a successful business and civic entrepreneur with a passion for technology commercialization and economic development. Spencer formed his first technology company in 1990, but his career as a serial entrepreneur really took off in 1996 when his then employer, Kelly Air Force Base, closed. Using his back bedroom as an office, Spencer founded OnBoard Software, Inc. with his best friend Steve Kluck.
From that initial staff of two, OnBoard Software, Inc. grew in eight years to more than 90 employees and $17 million in annual revenue. In early 2005, Spencer sold his 100 percent share in the company to MTC Technologies, Inc. for $34 million.
Since 2000, Spencer has served as an “angel investor” to technology start-ups. He formed Mandelbrot Ventures in 2005, a boutique fund which invested in early, pre-seed and seed-stage investments in Texas-based technology companies until 2008.
In August 2005, Texas Gov. Rick Perry appointed Spencer to a two-year term as the inaugural chair of the Emerging Technology Fund (ETF) Advisory Committee, a $200 million investment, commercialization, and company formation fund. Spencer served a third year on the ETF Advisory Committee as a member/past chair until September 2008.
In April 2008, he formed Texas Intrepid Ventures, a boutique fund aligned with the military medicine and commercial trauma expertise being concentrated in San Antonio, with a specific focus on medical device innovation needed in response to the current war in Iraq/Afghanistan.
He has founded and owns several businesses in diverse areas including childcare, real estate, and agriculture.
Spencer’s other activities in technology commercialization include being a founding board member and board co-chair of the San Antonio Technology Accelerator Initiative (SATAI), a regional effort aimed at company formation and growth. He played an instrumental role in founding UTSA’S Center for Infrastructure Assurance and Security, the research and operational component of the university’s burgeoning information assurance academic program. He also helped create the Information Technology Security Academy for high school students, as well as helped retain over $2.5 billion in information security workload at Lackland Air Force Base during the last round of national base closures. In 2007, he received the AT&T Technology Hero Award for his work in building the technology infrastructure across the state.
He also serves on the donor advisory committee for the Texas Resources for Iraq-Afghanistan Deployment (TRIAD) fund which will award $12.5 million in grants to charities which support families impacted by a deployment to Iraq/Afghanistan.
Spencer is an active participant in several charitable, business, academic, entrepreneurial, public policy, and technology economic development organizations. Currently, he serves on the Board of Trustees of the Comal Independent School District.
Spencer earned a B.S. in electrical and computer engineering from UT Austin in 1988. He completed the United States Air Force Air Command and Staff College in 1995. His wife, Jennifer, earned a B.S. in mathematics from UTSA in 1993. They have four young sons and reside in San Antonio.
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