New to town

Downtown Redevelopment Authority approves $1.25 million grant for new-to-Houston accelerator program

The funds will go toward bringing a new, pre-accelerator program to Houston. Shobeir Ansari/Getty Images

Houston has yet again attracted a nationally recognized accelerator program to downtown. Wisconsin-based genera8tor has announced its plans to launch its pre-accelerator program, gBETA, in Houston in spring of next year thanks to a $1.25 million grant approved by the Downtown Redevelopment Authority.

"With gener8tor joining nonprofit global accelerator MassChallenge in Downtown, the Houston innovation ecosystem will be home to two nationally ranked accelerators," says Bob Eury, president of Central Houston and the Downtown Redevelopment Authority, in a news release. "This agreement furthers Central Houston's long-term goal to create a collaborative Innovation District within Downtown and helps bridge the gap between small local startups and the city's growing innovation economy."

The grant will not exceed $1.25 million and will be paid out over the next five years. Gener8tor will have two gBETA cohorts a year, and the seven-week program will have a max of five teams across industries. The program will be equity-free and at no cost to participants accepted into the program. The program will also host six lunch-and-learn events that will be free and open to the Houston innovation ecosystem.

"The city of Houston's leadership is supporting its community members to be the economic drivers of tomorrow," says Abby Taubner, partner at gener8tor and managing director of gBETA, in the release. "We are humbled and excited to be part of the palpable excitement surrounding the local startup ecosystem, and cannot wait to roll up our sleeves and get to work."

According to gener8tor, a third of gBETA graduates will advance to a later stage equity-based accelerator program or raise a seed round of at least $50,000, and gBETA graduates from across the organization's eight states have collectively raised $57.7 million and created 716 jobs.

This announcement comes on the heels of MasChallenge Texas launching its Houston program earlier this year, as well as Silicon Valley's Plug and Play Technology Center entering the Houston market as well this year. Houston's downtown landscape has become a major hotbed for tech and innovation, with UiPath opening a major Houston office and coworking space popping up across downtown.

"Innovation is the next economic frontier for Houston, and gener8tor's gBETA program will help bridge the gap between the city's legacy industries—energy, medicine, space exploration and the port—and our growing innovation ecosystem of startup accelerators, investors and entrepreneurs," says Mayor Sylvester Turner in the release. "gBETA is the latest leap into that future, following in the exciting footsteps of The Ion innovation hub; the relocation or expansion of Silicon Valley firms to Houston such as Bill.com, UiPath and Google Cloud; the plans for the Texas Medical Center's TMC3 translational research commercialization campus; and so much more."

WeWork Labs and NextSeed have teamed up to help Houston's food entrepreneurs. Photo courtesy of WeWork

Two Houston programs that exist to help grow and develop food and hospitality startups have teamed up to combine their resources and programming.

WeWork Labs, a global acceleration program with a location in downtown Houston, and NextSeed, a Houston-based online investment platform, have announced a partnership set to begin in December. Together, the two entities will build a support system for Houston-based food entrepreneurs to provide workshops, programming, events, and more.

"Houston food entrepreneurs are keen to solve the big problems the food industry is facing today," says Carlos Estrada, head of WeWork Labs in Houston, in a news release. "Houston is among the leading cities for startup innovation and we see our partnership with NextSeed as an exciting first-of-its-kind initiative that will prove to support even more food entrepreneurs in the area, arming them with the network and tools they need to get their concepts off the ground and transform into leading businesses."

WeWork brings in its international food labs programming, and NextSeed will be able to provide access to capital through its platform. In March, the company launched NextSeed Space — a pop-up retail and kitchen space for startups to test their food and operations.

"Since inception, NextSeed has been focused on developing a world-class technology platform to democratize finance and strengthen local communities," says NextSeed CEO, Youngro Lee, in a news release. "By partnering with WeWork Labs, we are excited to be able to expand the level of support we can provide to our clients and member businesses through services like coaching, mentoring and dedicated workspace to help them ultimately reach their goals."

The first joint event hosted will be a reception and panel on December 12 from 6 to 8:30 pm at WeWork's Jones Building location in downtown. For event details, click here.