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5 most popular innovation stories in Houston this week

Austin-based FIRMSPACE opening a Houston location was among this week's top stories. Courtesy of FIRMSPACE

Editor's note: News this week's news was full of major money moves, a new workspace, and more.

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Why it's important for Texas startups to get funding within the Lone Star State

Texas startups should be getting funded with Texas money, and here's why. Getty Images

When you set out to disrupt a long-standing industry, one of the most important aspects is figuring out where you are going to get the money. Odds are, you are going to be OK with breaking the mold on other traditional practices such as forgoing the venture capitalist firms for smaller companies who share your innovative vision and want to invest in it.

That philosophy works well in Texas seeing as the big venture capitalists tend to stay on the East and West Coasts.

There are dozens of things to think about when starting a company. Funding can be the most important, and there are many ways to approach raising funding for your startup. Here are a few things to consider. Continue reading the article here.

Rice University startup competition awards record $2.9 million in prizes

The winner of the Rice Business Plan Competition walked away with over $700,000 in prizes. Courtesy of Rice University

On Saturday, over 20 organizations were prepared to write checks to entrepreneurs competing in the Rice Business Plan Competition, but the largest and richest student business plan competition doled out almost double what it initially intended to award.

Earlier this year, Rice University announced the 42 teams that would be competing for $1.5 million in prizes, but ended up giving out a record $2.9 million. While a few organizations announced they had trouble picking a single company and named two recipients, Houston-based GOOSE Society surprised everyone with almost $1 million in unexpected prizes. Continue reading the article here.

New high-end workspace opens in Houston's Galleria area

Austin-based FIRMSPACE has opened its third location in Houston with a 32,000-square-foot space in BBVA Compass Plaza. Courtesy of FIRMSPACE

Houston's getting another high-end coworking space. FIRMSPACE, an Austin-based company, selected Houston as its third location.

With 32,000 square feet of space, FIRMSPACE Houston is open for business in BBVA Compass Plaza (2200 Post Oak Boulevard) on the 10th and 11th floors of the 22-story building. The company opened its first location in Austin, followed by a Denver location last December. Continue reading the article here.

3 Houston innovators to know this week

From making major deals to advancing future innovators, here are three Houston leaders to know this week. Courtesy photos

This week's movers and shakers in Houston innovation are dealmakers and leaders — from securing huge partnerships to influencing the next generation of inventors. These are the three innovators to know in Houston this week. Continue reading the article here.

Houston energy storage software company inks major deal with Canadian tech co.

Houston-based Pason Power just inked a major deal that's giving it an edge in the industry. Getty Images

Houston-based Pason Power, which provides Internet of Things services to energy storage and solar providers, has been quietly innovating in the energy industry for years. And earlier this year, Pason Power inked a partnership with a multimillion-dollar energy tech company that's quickly expanding its US footprint.

Since it launched as a wholly owned subsidiary of Calgary-based Pason Systems Inc. in 2016, Pason Power offers an array of technologies — including AI, IoT, real-time automation — that support energy storage systems throughout a project's lifecycle. Energy storage systems is a wide umbrella that includes everything from the massive systems used to store renewable energy and biofuels, to household batteries, which store electricity. Continue reading the article here.


Trending this week on InnovationMap is news about a new electric vehicle initiative from the mayor's office, three Houston innovators to know, and more. Photo by PeopleImages

Editor's note: If you zoned out of Houston innovation news this week — perhaps distracted by baseball post-season games — we've got you covered. Some of the highlights include a new electric vehicle initiative from the mayor's office, updates from The Ion, and the Houstonians with the deepest pockets.

3 Houston innovators to know this week

Samantha Lewis, Tilman Fertitta, and Tiffany Masterson are this week's innovators to know in Houston. Courtesy images

Houston entrepreneurs never cease to impress, leaving a mark on the city for their business minds, creativity, and overall gumption. This week's three innovators to know are no exception.

From a startup venture capitalist and Houston's most recognizable billionaire to a local mom that created — and now sold — a skincare line with a cult following, these are this week's innovative Houstonians to keep an eye on. Continue reading.

Station Houston CEO to lead operations at The Ion

The Rice Management Company has created a new operations organization for The Ion and has selected Gabriella Rowe to lead it. Courtesy of Rice University

A Houston innovation leader is switching sides of the table to support on a highly anticipated entrepreneurial hub.

Rice Management Company has created an operating organization for The Ion and has named Gabriella Rowe as the executive director. Rowe has served as CEO of Station Houston since August 2018. The Ion, which broke ground on the site of the Midtown Sears building in July, is expected to deliver early 2021. Continue reading.

Houston billionaires named to Forbes' list of richest Americans for 2019

Pipeline mogul and Memorial Park benefactor Richard Kinder (pictured with his wife, Nancy) leads the Houston billionaires. Photo by Michelle Watson/Catchlight Group

Who's the richest person in Texas? That title once again goes to Walmart heiress Alice Walton, of Fort Worth, according to the newly released Forbes 400 ranking. But seven very wealthy Houstonians also appear on the list of the 400 richest people in the country right now.

The top Houstonian on the list is Houston pipeline mogul Richard Kinder, who is tied with another Walmart heiress, Ann Walton Kroenke, for sixth place in Texas and No. 67 nationally. Forbes estimates they're each worth $7.5 billion. Continue reading.

Mayor announces major effort to reduce emissions on Houston's roadways

Through increasing awareness, affordability, and accessibility, the city of Houston hopes to grow the number of electric vehicles on Houston roads by 2030. Courtesy of EVolve Houston

The city of Houston has taken a major step toward reducing carbon emissions caused by its estimated 1.3 million vehicles that drive the city's streets daily.

Mayor Sylvester Turner announced a new partnership between the government, local businesses, and academic leaders that has created EVolve Houston. The coalition is aimed at boosting electric vehicle sales to 30 percent of new car sales in Houston by 2030. Continue reading.

A Houston entrepreneur is thinking out of the box with smart lockers for food and personal items

Dommonic Nelson wants to make sure everyone's lunches are safe. Photo via cleverboxcompany.com

Someone kept taking Dommonic Nelson's lunch. A Texas Southern University student living at home and commuting from Greenspoint, Nelson only had a few minutes to scarf down his lunches between studying Maritime Transportation. But regularly, he'd reach into the community refrigerator on campus, only to find, well, nothing.

One night, Nelson was in the shower, wondering why his lunch had been taken again, and the long journey to Clever Box Co. began. He barged into his grandfather's room — it was 2:40 in the morning — and told him he had an idea for a series of high-tech boxes designed for storing various things. The boxes could keep personal items (the Stash Box) and packages (the Happy Box) in large companies and coworking spaces, and for people to quickly pick up their food from restaurants without having to wait in line (the Yummy Box). If Nelson couldn't get his lunches back, he was going to make an entire business on making sure no one got stolen from again. Continue reading.