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5 most popular innovation stories in Houston this week

A story about creative nonprofit collaboration called Good Measure is one of the top stories this week. Alan Nguyen/Good Measure

Editor's note: The theme of the week here at InnovationMap was creative collaborations and rapid growth. Check out this week's top stories in Houston innovation.

10 most promising Texas startups revealed at inaugural Houston summit

Station Houston CEO Gabriella Rowe and Rice Alliance Managing Partner Brad Burke named 10 startups to watch. Photo by Natalie Harms

Texas is booming with digital startups, and Station Houston and the Rice Alliance for Technology and Entrepreneurship hosted a meeting of the minds to discuss the digital revolution at the inaugural Texas Digital Summit at Rice University on December 6.

Thirty-nine companies presented throughout the day; among the group were 26 from the Houston area. At the conclusion of the day, Gabriella Rowe, CEO of Station Houston, and Brad Burke, managing director of the Rice Alliance, announced 10 "most promising companies" that stood out to a group of investors who attended the event.

All 10 selected were Texas-based, with eight from the Houston area. Here's who the venture capitalists and investors picked for the prize. Read the full story here.

Houston creatives relaunch nonprofit's brand through a 3-day collaboration

Allison Williams, who has been working with the Transformational Prison Project for two years, attended Good Measure to consult on the brand development. Alan Nguyen/Good Measure

What if you could harness the power of a city's top creative professionals to create a brand identity for a nonprofit that otherwise couldn't afford it? Alex Anderson posed that question to some of his colleagues, and Good Measure was born.

"Good Measure exists to broaden the conversation about good in the world and what that means and how people can contribute to good no matter their skill set," says Anderson, who is a senior brand strategist and account manager at Houston-based NUU Group.

Good Measure is a Houston-based nonprofit that hosts three-day creative collaborations with local designers, writers, brand strategists, and more. The goal is simple: Equip a nonprofit with new storytelling tools — like a website, social media, and video communicating the organization's message. Read the full story here.

Growing Houston company makes pipeline data more accessible for natural gas trading

Jay Bhatty looked at how pipeline data reached traders and thought of a better way. Getty Images

In the energy capital of the world, Houston entrepreneur Jay Bhatty has established a rapidly growing technology hub for the natural gas industry.

Bhatty, a veteran of the natural-gas-trading business, founded Houston-based NatGasHub.com in October 2016 to streamline the traditionally complicated processes of moving natural gas from one point to another, and of unearthing data about natural gas pipelines. After only a little over two years in business, NatGasHub.com already is profitable — a rare feat in the startup world. Read the full story here.

3 Houston innovators to know this week

These three entrepreneurs didn't see their careers coming. Courtesy photos

The career paths of startup or innovation leaders isn't usually a direct path. All three of this week's innovators to know took a roundabout way to their current gigs, which included a leap of faith or two for each of them. If their winding careers are any indication, they've got more exciting leadership ahead. Read the full story here.

Houston electronics manufacturing company gears up for growth

Houston-based MacroFab has created the Uber or Airbnb of electronics manufacturing. Getty Images

It takes an unnecessarily long time for electronic devices to get from idea to reality — and much of that is due to inefficiency in manufacturing. Just getting a prototype together takes weeks of back and forth between the engineer and the manufacturer.

"The business model for contract manufacturing hadn't changed in 30 years," Chris Church says. "It was phone calls, emails, going out and playing golf, going to lunch, and negotiating everything endlessly."

Houston-based MacroFab is addressing these antiquated and outdated ways of manufacturing and changing the way electronics manufacturing is done. For its revolutionary work, the company has consistently seen its revenue at least double — sometimes tripling or quadrupling — every year, and projects to at least triple in 2019. Read the full story here.


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Building Houston

 
 

“Entrepreneurship is driven by the desire for independence,” Capital on Tap COO Damian Brychcy said. Photo via Getty Images

Creating a small business might be daunting, but new research shows starting it in Texas is one of the best decisions you can make to follow your passion.

Business credit card experts Capital on Tap determined Texas is the second best state to start a small business, right after Florida. They retrieved their data from the U.S. Bureau of Labor Statistics based on several factors, including new firm survival rates, corporate tax rates, the number of entrepreneurs per state, and more.

Texas has very friendly tax frameworks when it comes to small businesses; it is one of five total states that don’t impose any income tax. Furthermore, all Texas businesses that make less than $1.08 million in revenue don’t owe any franchise tax. That also includes all businesses that have less than $1,000 in tax liability.

If a small business owner in Texas needed to take out a loan, they’d be able to secure $4,811 per employee, which is the fifth-highest average loan amount in a calculation of all 50 states.

Capital on Tap COO Damian Brychcy says in a release that the decision to start a small business involves assessing several factors and risks, but he hopes his team’s research can provide future guidance for businesses and entrepreneurs no matter where they reside.

"Entrepreneurship is driven by the desire for independence,” he says. “This includes the freedom to pursue your passion, choose your workplace and working hours, and foster personal growth.”

Florida earned its top spot in the report due to its strong support of local economies with the highest number of jobs created by start-ups per 1,000 residents in the state. However, unlike Texas, Florida small businesses have to pay a 5.5 percent corporate tax rate.

The top states that are the best places to start a small business include:

  • No. 1 – Florida
  • No. 2 – Texas
  • No. 3 – Idaho
  • No. 4 – Nevada
  • No. 5 – North Carolina
  • No. 6 – Colorado
  • No. 7 – Washington
  • No. 8 – Georgia
  • No. 9 – California and Montana (tied)
  • No. 10 – Utah

Texas regularly appears near the top of lists of business-friendly states. It ranked third in personal finance website WalletHub's January report, 2023's Best & Worst States to Start a Business. In February, Texas was named fifth best state for women entrepreneurs in Merchant Maverick’s annual ranking.

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This article originally ran on CultureMap.

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