winner, winner

Houston fintech startup snags Capital Factory's $50,000 pitch investment prize

Houston-based DonateStock is $50,000 richer after claiming a recent pitch competition win. Photo via donatestock.com

Capital Factory, one of the most active startup investors with a presence across Texas, recently hosted a virtual pitch competition — and one Houston startup took home the big prize.

As a part of the Houston Tech Rodeo, Capital Factory hosted its $50K Houston Investment Challenge with five finalists — DonateStock, Elastique, Elemental Coatings, M&S Biotics, and ScalaMed. The panel of judges included Andy Cloyd, vice president of Revolution; Aleece Hobson, venture partner at HX Venture Fund; and Juliana Garaizar launch director of Greentown Labs.

DonateStock, a tech-enabled tool that automates the stock donation process, took home the big win. Steve Latham, founder and chairman of DonateStock, presented the company's pitch and explained how the tool has the potential to unlock $100 billion for nonprofits.

"A lot of people aren't aware about the benefits of donating stock," Latham explains. "If you're sitting on stock that you've owned or several years that's appreciated quite a bit. If you sell it, you pay capital gains tax — anywhere from 15 to 30 percent. If you donate it, you avoid the tax and you get a big write off, you can deduct the full market value of the donated stock."

He goes on to explain how only 2 percent of people donate stock — and its due to the archaic process that it takes. DonateStock's platform optimizes the education of donors, the connection of nonprofits to new donors, and the simplification of the process. What used to take hours now takes just 10 minutes, Latham says.

Nonprofits get a free page, free customer support, and there is no fee to be on the platform, and DonateStock makes a 2 percent transaction fee. The company already has 40 nonprofits on the platform, and over 70 in the queue to sign up. The goal, Latham says, is to have 900 organizations online by the end of the year. He's already seen a lot of interest in light of the pandemic.

"This is the time to solve this problem," Latham says. "If you have friends at nonprofits or charities, you know what the pandemic did to giving programs. They've all been devastated and they have gotta find new ways to diversify and grow their revenue."

DonateStock anticipates a seed round later this year. It's the third startup Latham has worked on with his co-founder.

"We see a path to building a billion-dollar company over the next five years while impacting millions of lives around the world," he says.

Each of the other finalists' consolation prize is a connection and a foot in the door at Capital Factory, says CEO Joshua Baer.

"Every time we do one of these, we meet a bunch of companies that we end up working with — and many of whom we end up investing in," he says at the virtual event. "We're going to be following up with all of the companies from today. Anyone who was a finalist and up on the stage is someone we are excited about and interested in working more closely with."

Trending News

Building Houston

 
 

For over a year now, scientists have been testing wastewater for COVID-19. Now, the public can access that information. Photo via Getty Images

In 2020, a group of researchers began testing Houston's wastewater to collect data to help identify trends at the community level. Now, the team's work has been rounded up to use as an online resource.

The Houston Health Department and Rice University launched the dashboard on September 22. The information comes from samples collected from the city's 39 wastewater treatment plants and many HISD schools.

"This new dashboard is another tool Houstonians can use to gauge the situation and make informed decisions to protect their families," says Dr. Loren Hopkins, chief environmental science officer for the health department and professor in the practice of statistics at Rice University, in a news release. "A high level of virus in your neighborhood's wastewater means virus is spreading locally and you should be even more stringent about masking up when visiting public places."

The health department, Houston Water, Rice University, and Baylor College of Medicine originally collaborated on the wastewater testing. Baylor microbiologist Dr. Anthony Maresso, director of BCM TAILOR Labs, led a part of the research.

"This is not Houston's first infectious disease crisis," Maresso says in an earlier news release. "Wastewater sampling was pioneered by Joseph Melnick, the first chair of Baylor's Department of Molecular Virology and Microbiology, to get ahead of polio outbreaks in Houston in the 1960s. This work essentially ushered in the field of environmental virology, and it began here at Baylor. TAILOR Labs is just continuing that tradition by providing advanced science measures to support local public health intervention."

It's an affordable way to track the virus, says experts. People with COVID-19 shed viral particles in their feces, according to the release, and by testing the wastewater, the health department can measure important infection rate changes.

The dashboard, which is accessible online now, is color-coded by the level of viral load in wastewater samples, as well as labeled with any recent trend changes. Houstonians can find the interactive COVID-19 wastewater monitoring dashboard, vaccination sites, testing sites, and more information at houstonemergency.org/covid19.

Trending News