The festival, first held in 1987, elevates Austin to the global stage, and this year’s sessions especially emphasized the critical role that the McCombs School of Business, The University of Texas at Austin, and the broader Texas ecosystem play in driving innovation and economic growth. The panel “Texas: At the Heart of Tech’s Future” focused on the state’s strategic plan for a “bigger, better” Texas — with goals including having 10% of Fortune 500 companies based in Texas and the state having its own stock exchange — and how UT contributes to these ambitious goals. A California transplant himself, Breyer emphasized that business leaders across the country are taking note of Texas’ reputation for innovation, saying “[Texas] is open for business.”