Texas Private Plane Crash Victim Is Millionaire Tech CEO Joshua Baer

The person killed in the tragic Texas plane crash has been identified ... and he's even being honored by folks at the highest reaches of government.

Joshua Baer -- a prominent tech and finance mogul who has been called the godfather of Austin, Texas' startup scene -- died in Tuesday night's crash, according to multiple reports.

Joshua was the founder of Capital Factory ... a startup accelerator and investment group, which injected life into Texas' economy by bringing in and nurturing multiple businesses over the last two decades.

According to the Austin Business Journal, Joshua helped the state land a large contract with the United States Army, which brought in billions of dollars for the state ... and seemingly put him in contact with Senator Ted Cruz, who honored him and sent condolences to his family in a social media post.

The Senator from Texas wrote, in part, "Josh has been one of the most significant figures driving innovation and entrepreneurship across America. In Texas, he made our state a global leader. His impact was incalculable."

As we told you ... the twin-jet Cessna was flying from Los Cabos International Airport in Mexico to Austin, when the plane reportedly suffered a mechanical failure around 10 PM local time.

Video captured the plane hurtling from the sky ... slamming down onto a highway in Laredo and catching fire.

Good Samaritans driving by stopped their cars and jumped out ... using tools to smash open the cockpit window and help people out of the burning plane.

Officials did not have much to say in Wednesday's press conference ... though they did make clear they're working diligently with the Federal Aviation Administration and the National Transportation Safety Board to clear the roadway.

Joshua was 50.