for the kids

Business accelerator focused on child care centers launches in Houston following $3M grant

A new business accelerator is launching to help grow access to child care. Educational First Steps/Facebook

A Houston-based organization has launched the state's first business accelerator program focused on child care centers in order to strengthen Texans' access to child care.

The Texas Workforce Commission has awarded Collaborative for Children a $3 million grant as the organization has rolled out an eight-week business training program that will provide instruction and guidance for budgeting, performance management and emergency preparedness within the K-12 space.

"We are thrilled that the state has entrusted us with this grant to build a program that will provide the support so many child care programs need, particularly those in quality child care deserts," says Melanie Johnson, president and CEO of Collaborative for Children, in a news release. "Child care is a priority for every community. It makes it possible for parents to earn a living and for businesses to have a stable workforce, but most importantly, it prepares our youngest citizens for the 21st century workforce. We must gird our child care system so that child care programs not only survive, but also thrive after the next crisis."

The program is a collaboration between Collaborative for Children and Texas A&M University's Bush School of Government and Public Policy Center for Nonprofits and Philanthropy. The school will be providing resources and will develop several online modules for the accelerator.

Collaborative for Children has also created a Centers of Excellence program as a part of the accelerator, and the Houston area has 24 locations within the program. The COEs will receive support within the program and have been recognized as providing "high-quality early childhood education." The type of support the COEs receive include professional development, emotional support, access to tallent, marketing help, and more.

The organization has been in Houston supporting local child care professionals since the late 1980s. Collaborative for Children has several programs for educators and families and has specialized COVID-19 help online as well.

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Building Houston

 
 

VR training startup, HTX Labs, has raised funding from an outside investor for the first time. Courtesy of HTX Labs

HTX Labs, a Houston-based company that designs extended reality training for military and business purposes, announced last week that it has raised its first outside capital.

The company has received a $3.2 million investment from Cypress Growth Capital. Founded in 2017, HTX Labs — developer of the EMPACT Immersive Learning Platform — has been granted funding from the Department of Defense as well as grown its client base of commercial Enterprises. The platform uses virtual and extended reality that "enables organizations to rapidly create, deploy, measure, and sustain cost-effective, secure, and centralized immersive training programs, all within engaging, fully interactive virtual environments," per a news release.

“We have been looking to secure outside capital to accelerate the growth of our EMPACT platform and customer base but we hadn’t found the right partner who provided an investment vehicle that matched our needs,“ says HTX Labs CEO Scott Schneider in the release. “We found everything we were looking for in Cypress Growth Capital. They have a non-dilutive funding model that aligns with our capital expectations and have the level of experience that really makes this smart money.

"Cypress has a decade-long track record of success in helping emerging software and services companies achieve scale," he continues. "It is clear that the team’s collective entrepreneurial and operating experience will be of tremendous benefit to us as we focus on expanding our customer base in a very intentional way.”

The fresh funding will go toward growing and scaling the company's operations — both within the current Department of Defense and expansion opportunities into key commercial markets, like heavy industry, manufacturing, and higher education. Additionally, the funding will support increased customer adoption.

“Scott and his team have built an exceptional business that is poised for dramatic growth,” says Cypress Partner Pat McCaffrey in the release. “HTX Labs’ modern, immersive training solution provides clients with a force multiplier for modernizing training and an unmatched ROI.”

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