who's who

3 Houston innovators to know this week

This week's roundup of Houston innovators includes Barbara Burger of Chevron, Ashley DeWalt of DivInc, and Kelli Newman of Newman & Newman Inc. Courtesy photos

Editor's note: In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries — energy venture, sports tech, and communications — recently making headlines in Houston innovation.

Barbara Burger, vice president of innovation at Chevron and president of Chevron Technology Ventures

Chevron Technology Ventures made two recent investments from its brand new fund. Courtesy of CTV

In February, Chevron Technology Ventures LLC launched its newest $300 million Future Energy Fund II to build on the success of the first Future Energy Fund, which kicked off in 2018 and invested in more than 10 companies specializing in niches like carbon capture, emerging mobility, and energy storage. The initial fund contained $100 million.

"The new fund will focus on innovation likely to play a critical role in the future energy system in industrial decarbonization, emerging mobility, energy decentralization, and the growing circular carbon economy," Houston-based Chevron Technology Ventures says in a February 25 release.

Now, a few months later, Barbara Burger, vice president of innovation at Chevron and president of Chevron Technology Ventures, has announced that the fund has made its first two investments — one in a company with offshore wind turbines and one that's working on an alternative energy source from ammonia. Read more.

Ashley DeWalt, managing director of DivInc

Ashley DeWalt, managing director of DivInc, joins the Houston Innovators Podcast to discuss diversity and inclusion, sports tech, and all things Houston. Photo courtesy of DivInc

Houston has a huge opportunity for sports innovation, says Ashley DeWalt, and he should know. He's spent over 15 years in the industry at both the professional and collegiate levels.

"We have a very high concentration of current and former professional athletes that live in Houston," DeWalt says, "and I truly believe — and the data shows this — these professional athletes are going to invest in sports tech."

DeWalt — who is the Houston-based managing director at DivInc, which just expanded to Houston — joined the Houston Innovators Podcast last week to discuss sports tech and diversity in the Houston innovation ecosystem. Stream the episode and read more.

Kelli Newman, president of Newman & Newman Inc.

In her guest column, Kelli Newman explains missed communications and branding opportunities for Houston innovators. Photo courtesy of Newman & Newman

Chances are, you aren't making the most out of branding and storytelling opportunities. At least that's what Kelli Newman, president of the Houston-based communication strategies firm, Newman & Newman Inc., found in her recent research into the Houston innovation ecosystem.

"For two months we interviewed investors, accelerators, industry customers and entrepreneurs themselves, asking for missed opportunities they may be seeing in what and how companies are communicating," she writes in a guest column for InnovationMap in which she explains her findings.

From setting yourself apart from the competition and tapping into empathy, Newman shares her tips from her findings. Read more.

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Building Houston

 
 

You can now hop online and invest in this promising cell therapy startup. Photo via Getty Images

A clinical-stage company headquartered in Houston has opened an online funding campaign.

FibroBiologics, which is developing fibroblast cell-based therapeutics for chronic diseases, launched a campaign with equity crowdfunding platform StartEngine. The platform lets anyone — regardless of their net worth or income level — to invest in securities issued by startups.

The funding, according to a press release, will be used to support ongoing operations of Fibrobiologics and advance its clinical programs in multiple sclerosis, degenerative disc disease, wound care, extension of life, and cancer.

"We're excited to partner with StartEngine on this campaign. StartEngine has over 600,000 investors as part of their community and has raised over half a billion dollars for its clients," says FibroBiologics' Founder and CEO Pete O'Heeron, in the release.

"This is an exciting time at FibroBiologics as we continue progressing our clinical pipeline and developing innovative therapies to treat chronic diseases," he continues. "This new funding will fuel our growth in the lab and bring us one step closer to commercialization."

The campaign, launched this week, already has over 100 investors, at the time of publication, and has raised nearly $2 million, according to the page. The minimum investment is set at around $500, and the company's indicated valuation is $252.57 million.

In 2021, FibroBiologics announced its intention of going public. Last year, O'Heeron told InnovationMap on the Houston Innovators Podcast of the company's growth plans as well as the specifics of the technology.

Only two types of cells — stem cells and fibroblasts — can be used in cell therapy for a regenerative treatment, which is when specialists take healthy cells from a patient and inject them into a part of the body that needs it the most. As O'Heeron explains in the podcast, fibroblasts can do it more effectively and cheaper than stem cells.

"(Fibroblasts) can essentially do everything a stem cell can do, only they can do it better," says O'Heeron. "We've done tests in the lab and we've seen them outperform stem cells by a low of 50 percent to a high of about 220 percent on different disease paths."


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