who's who

3 Houston innovators to know this week

This week's roundup of innovators includes Alfredo Arvide of MAP360, Gaurab Chakrabarti of Solugen, and Stephen Ives of YMCA of Greater Houston. Courtesy photos

Editor's note: The three innovators being called out this week for their latest news includes three leaders looking to make a difference and disrupt the norm. From innovating diversity and inclusion to making a huge splash in the chemicals industry.

Alfredo Arvide, CEO and co-founder of MAP360

This Houston startup is increasing access to marketing for other startups and small businesses

"We're here for the founders and the little guys," Alfredo Arvide says about his new venture that's redefining marketing for small businesses and startups. Photo courtesy of MAP360

Alfredo Arvide's story isn't too unfamiliar. After getting laid off amid a recession, he turned his full focus to his startup hoping to disrupt the industry he's worked in for years. The only difference here is Arvide's story is still ongoing, and the industry he's trying to disrupt is marketing for startups.

"There is a great opportunity in Houston with the accelerating innovation ecosystem," says Arvide. "When my co-founder and I were brainstorming ideas, we saw the need for a marketing program tailored specifically for startups or small businesses."

MAP360 touts a 50 percent or fewer costs of an agency with the same agency-quality talent. The services they offer range from branding, storytelling, design, to consulting. They also offer tiers or packages aimed for startups, funded or growing businesses, and established businesses. Click here to read more.

Gaurab Chakrabarti, CEO and co-founder of Solugen

Solugen, which uses plant-centered biotechnology to produce environmentally friendly chemicals, has raised an additional $30 million and is speculated to soon reach unicorn status. Photo via solugentech.com

Is Solugen going to be the next unicorn — a startup valued at $1 billion — to come out of Houston? That's what Forbes, but that's not what Gaurab Chakrabarti is focused on right now. He's got bigger goals to disrupt the entire chemicals industry.

"Quite simply, we want to become the next DowDuPont or the next iconic chemical company, but using principles of green chemistry instead of principles from petroleum chemistry," Chakrabarti says.

And he's on the right path. Recently, Solugen raised another $30 million in a bridge round after raising $36 million last year. Click here to read more.

Stephen Ives, president and CEO of the YMCA of Greater Houston

The Equity Innovation Center Powered by Reliant will have online resources as well as an interactive learning lab at Tellepsen Family Downtown YMCA. Photo courtesy of Urban Land Institute Houston

With Houston's diversity and in light of the current civil unrest, the YMCA of Greater Houston wanted to create something to help educate Houstonians and provide a space for unity and collaboration. That's why the organization is launching The Equity Innovation Center Powered by Reliant, says Stephen Ives, president and CEO of YMCA of Greater Houston.

"The YMCA of Greater Houston vows to stand with our brothers and sisters who are made to feel less safe by the many recent incidents – fighting for health equity in the face of the inequities being laid bare by the COVID-19 pandemic and unjust killings," says Ives. "The Y will continue expanding and strengthening its commitment to combat racism, bias, prejudice and inequalities while fighting for justice."

The center is coming out of a $100,000 donation from Reliant, which will be distributed in $50,000 commitments over two years. The sum is a part of Reliant and NRG's "Powering Change" initiative. Click here to read more.

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Building Houston

 
 

This Houston-based SPAC has announced the tech company it plans to merge with. Photo courtesy of Gow Media

A Houston SPAC, or special purpose acquisition company, has announced the company it plans to merge with in the new year.

Beaumont-based Infrared Cameras Holdings Inc., a provider of thermal imaging platforms, and Houston-based SportsMap Tech Acquisition Corp. (NASDAQ: SMAP), a publicly-traded SPAC with $117 million held in trust, announced their agreement for ICI to IPO via SPAC.

Originally announced in the fall of last year, the blank-check company is led by David Gow, CEO and chairman. Gow is also chairman and CEO of Gow Media, which owns digital media outlets SportsMap, CultureMap, and InnovationMap, as well as the SportsMap Radio Network, ESPN 97.5 and 92.5.

The deal will close in the first half of 2023, according to a news release, and the combined company will be renamed Infrared Cameras Holdings Inc. and will be listed on NASDAQ under a new ticker symbol.

“ICI is extremely excited to partner with David Gow and SportsMap as we continue to deliver our innovative software and hardware solutions," says Gary Strahan, founder and CEO of ICI, in the release. "We believe our software and sensor technology can change the way companies across industries perform predictive maintenance to ensure reliability, environmental integrity, and safety through AI and machine learning.”

Strahan will continue to serve as CEO of the combined company, and Gow will become chairman of the board. The transaction values the combined company at a pre-money equity valuation of $100 million, according to the release, and existing ICI shareholders will roll 100 percent of their equity into the combined company as part of the transaction.

“We believe ICI is poised for strong growth," Gow says in the release. "The company has a strong value proposition, detecting the overheating of equipment in industrial settings. ICI also has assembled a strong management team to execute on the opportunity. We are delighted to combine our SPAC with ICI.”

Founded in 1995, ICI provides infrared and imaging technology — as well as service, training, and equipment repairs — to various businesses and individuals across industries.

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