The first report of gunfire came in at around 1:24 a.m. near the 400 block of East Sixth Street, an area filled with bars and live music venues.
In a series of tweets, Austin Mayor Steve Adler commented on the shooting downtown.
"We had 14 people that were shot, and none of them to this point have lost their life", Chacon said.
Eleven of the injured people were taken to one local hospital, another person was taken to a different hospital, and the other person went to an urgent care facility with gunshot wounds.
Some of the victims were taken for treatment in police cars, and not ambulances.
Authorities confirmed to Plohetski that investigators were working just after noon Saturday to confirm the identities of the two suspects and arrest them.
The interim chief said "almost all" of the shooting victims appear to be innocent bystanders.
The suspect is still at large and is believed to be a man. Mr Chacon said their understanding of the offender was "not very detailed". At the time, the street was barricaded to keep out vehicle traffic, Chacon said.
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Anyone with more information or video of the shooting are encouraged to call police detectives at 512-974-8477, or contact Crime Stoppers by calling the tip line at 512-472-8477 or the mobile app.
Police have a very general description of the suspect and the incident appears to be isolated to the area, but could not say for certain that there was no additional public danger because the suspect is not in custody, Chacon said.
'They were able to immediately begin life-saving measures for many of these patients, including applications of tourniquets; applications of chest seals'.
He said that the shooting seems to be the result of an argument between two groups of people.
Chacon said Saturday's incident was part of an alarming trend of shootings in Austin.
City and state leaders are reacting to the tragic news.
"One thing is clear - greater access to firearms does not equal greater public safety".
A 29-year-old woman was killed and another 10 people were injured in a shooting on Chicago's South Side early Saturday.