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5 most popular innovation stories in Houston this week

Houston-based after alcohol aid Cheers rebranding from Thrive+ was one of this week's top stories. Courtesy of Cheers

Editor's note: This week's top stories were mostly roundups — female innovators to know, medical device companies changing the health tech industry, and blockchain startups to keep an eye on. Check out what InnovationMap readers were drawn to in this roundup of roundups.

Houston hangover pill startup seen on Shark Tank rebrands following multimillion-dollar raise

On his failed investor attempt on Shark Tank, Brooks Powell couldn't secure a shark investment for $400,000. Now, he just closed on $2.1 million for his startup. Courtesy of Cheers

When Brooks Powell's Houston-based startup got passed over by the investors on Shark Tank last year, he didn't let it deter him. Instead, the Houston entrepreneur buckled down and started seeking investments off the screen.

It paid off, and Cheers (née Thrive+) recently closed a $2.1 million seed round. The round was lead by NextView Ventures, which has the likes of TaskRabbit, threadUP, and Letgo among its portfolio. Click here to continue reading the story.

5 Houston companies using blockchain to unlock new opportunities across industries

These five Houston startups are linking up industries and blockchain technology. Getty Images

Blockchain has really started to come into its own as more and more companies are applying the technology across industries — from oil and gas analytics and fundraising to even social media marketing. Five Houston companies have made their mark on these different industries by incorporating this burgeoning technology. Click here to continue reading the story.

3 Houston female entrepreneurs to know this week

Reda Hicks (left) of GotSpot Inc, Ghazal Qureshi (center) of Idea Lab Kids, and Abbey Donnell of Work & Mother are this week's innovators to know. Courtesy photos

Another Monday means another set of innovators to know. This one focuses on a few female startup leaders changing the game in the commercial real estate and education industries. Click here to continue reading the story.

5 Houston medical device companies changing the industry

As medicine and technology both advance, these Houston startups are at the forefront of the industry. Getty Images

With the Texas Medical Center at the heart of Houston, health advancement opportunities are endless. Medical breakthroughs are happening across town, but as technology advances, the industry is seeing more and more startups popping up to take new tech tools and applying them to traditional medical devices and procedures. These five Houston startups are developing the future of the industry — one device at a time. Click here to continue reading the story.

Houston-based pitch contest announces 2019 finalists ahead of SXSW competition

Houston-based HATCH Pitch has revealed its four finalists. The startups will take the stage during SXSW in March. Courtesy of HATCH Pitch

For the eighth year, Houston-based HATCH Pitch is headed to Austin for SXSW to host its pitch competition focused on startups making the world a better place. This year's competition, which takes place on March 11, will be between four finalists. Click here to continue reading the story.

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this one's for the ladies

Texas named a top state for women-led startups

A new report finds that the Lone Star State is ideal for female entrepreneurs. Photo via Getty Images

Who runs the world? According to Merchant Maverick's inaugural Best States for "Women-Led Startups'' study, Texas is a great place for women to be in charge.

The Lone Star state cracked the top 10 on the list, earning a No. 6 spot according to the small business reviews and financial services company, which based the study on eight key statistics about this growing segment of the economy. Colorado (at No. 1), Washington, Virginia, Florida, and Montana were the only states to beat out Texas on the rankings—leading the Merchant Maverick team to conclude that "the part of the country that lies west of the Mississippi is great for startups led by women entrepreneurs."

Women-led startups in Texas received $365 billion in VC funding in the last five years, the report found. This is the seventh largest total among U.S. states. Too, about 20 percent of Texans are employed at woman-led firms, which is the fifth highest percentage among states. Roughly 35 percent of employers in Texas are led by women.

A few other key findings that work in female founders' favor: The startup survival rate in Texas is nearly 80 percent. And a lack of state income tax "doesn't hurt either," the report says.

Still there are shortcomings. On a per capita basis, only 1.27 percent of Texas women run their own business. The average income for self-employed women is also relatively low ranking among states, coming in around $55,907 and landing at 31st among others.

This is not the first time Texas has been lauded as a land of opportunity for women entrepreneurs. A 2019 study named it the best state for business opportunities for women. Houston too has proven to support success for the demographic. The Bayou City was named in separate studies a best city for female entrepreneurs to start a business and to see it grow.

Still, as many findings have concluded, the realities of the pandemic loom for all startups and small business owners. The Merchant Maverick study was careful to add: "The pandemic has changed the economic landscape over the past year, and often for the worse.

"This means that not every metric may be able to accurately gauge how a state might fare amidst the pandemic," the report continues. "To help factor in COVID's impact, we included some metrics that take 2020 into account, but it will be a while until we get a full picture of the pandemic's devastation.""

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