Who's who

3 Houston innovators to know this week

These three Houstonians have a lot up their sleeves for their companies. Courtesy photos

This week's three Houston entrepreneurs are all about improving access for startups — either to capital or to resources — and that's no small undertaking in a market like Houston. With its urban sprawl and large population, Houston's been considered to have a connectivity problem. Luckily, these three folks have solutions.

Grace Rodriguez, executive director and co-founder of Impact Hub Houston

Grace Rodriguez is the co-founder and executive director of Impact Hub Houston. Courtesy of Grace Rodriguez

Grace Rodriguez has been working to launch Impact Hub Houston for a while now, but her and her team's moment has come. For Rodriguez, the goal is to both advance Houston startups, as well as the innovation ecosystem as a whole.

"Our real vision is to help Houston become a role model for how the world solves the most pressing issues," she says. "We want to show the rest of the world that Houston has the talent, expertise, insight, and resources to solve issues around the world." Read more about Rodriguez and Impact Hub Houston here.

Nicolas Carnrite, co-founder of LetsLaunch

Nicolas Carnrite founded LetsLaunch to improve access to funding. Courtesy of LetsLaunch

Something didn't add up for Nicolas Carnrite. The opportunity to invest in companies was limited to such a small percentage of the population.

"There's something like 30 million people globally that have a $1 million net worth, which is the definition of being an accredited investor," Carnrite says. "Thirty million people out of 7.7 billion, so it's a little less than half a percentage."

This translated into an opportunity to create LetsLaunch, a securities investment online platform that democratizes investment. The Houston company has taken it a step further in its recent partnership with The Cannon. Read more about this partnership here.

Youngro Lee, co-founder and CEO of NextSeed

Youngro Lee NextSeed

Youngro Lee, co-founder and CEO of NextSeed, wants to create a connection between business and their communities. Courtesy of NextSeed

Thanks to a recent SEC accreditation, Youngro Lee is now able to announce that his Houston online fundraising platform, NextSeed, is a broker-dealer. The platform, which has helped the likes of Buffalo Bayou Brewery and The Waffle Bus raise thousands of capital dollars, is now able to offer its community more investment opportunities. Read more about what the deal means for the company here.

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Building Houston

 
 

This Houston-based SPAC has announced the tech company it plans to merge with. Photo courtesy of Gow Media

A Houston SPAC, or special purpose acquisition company, has announced the company it plans to merge with in the new year.

Beaumont-based Infrared Cameras Holdings Inc., a provider of thermal imaging platforms, and Houston-based SportsMap Tech Acquisition Corp. (NASDAQ: SMAP), a publicly-traded SPAC with $117 million held in trust, announced their agreement for ICI to IPO via SPAC.

Originally announced in the fall of last year, the blank-check company is led by David Gow, CEO and chairman. Gow is also chairman and CEO of Gow Media, which owns digital media outlets SportsMap, CultureMap, and InnovationMap, as well as the SportsMap Radio Network, ESPN 97.5 and 92.5.

The deal will close in the first half of 2023, according to a news release, and the combined company will be renamed Infrared Cameras Holdings Inc. and will be listed on NASDAQ under a new ticker symbol.

“ICI is extremely excited to partner with David Gow and SportsMap as we continue to deliver our innovative software and hardware solutions," says Gary Strahan, founder and CEO of ICI, in the release. "We believe our software and sensor technology can change the way companies across industries perform predictive maintenance to ensure reliability, environmental integrity, and safety through AI and machine learning.”

Strahan will continue to serve as CEO of the combined company, and Gow will become chairman of the board. The transaction values the combined company at a pre-money equity valuation of $100 million, according to the release, and existing ICI shareholders will roll 100 percent of their equity into the combined company as part of the transaction.

“We believe ICI is poised for strong growth," Gow says in the release. "The company has a strong value proposition, detecting the overheating of equipment in industrial settings. ICI also has assembled a strong management team to execute on the opportunity. We are delighted to combine our SPAC with ICI.”

Founded in 1995, ICI provides infrared and imaging technology — as well as service, training, and equipment repairs — to various businesses and individuals across industries.

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