we're no. 3

Houston rises in the ranks among the top cities for women in tech

Houston is again ranked a top city for women in tech. Photo via Getty Images

Houston has again made it into the top cities for women in tech — beating out everywhere but Arlington, Virginia, and Washington, D.C.

Up four spots compared to last year, Houston comes in third place on SmartAsset's eighth annual list, which factors in four metrics: gender pay gap in the tech industry, income for women in tech after deducting housing costs, women as a percentage of tech workers, and three-year growth in tech employment. Aside from Houston, Texas's only other top 15 representation is Fort Worth, which ranks as No. 6.

The Bayou City ranks No.1 overall for the gender pay gap —women earned 98 percent of what men do in the tech workforce on average, the report finds. Female tech workers earn $65,662 after housing expenses are accounted for — ranking ninth-best. Between 2017 and 2020, total tech employment grew by 13 percent and in that workforce, 27.5 percent of workers are women.

The annual study found that while the tech industry is seeing steady growth and is projected to see another 178,000 tech jobs enter the market in 2022, the gender gap is also consistently disappointing. Women only make up 26.1 percent of all tech workers, per the report, and earn just 84 percent of what their male counterparts do.

The West Coast doesn't make a great impact on the list this year.

"Surprisingly, no California cities made the top 10," SmartAsset reports. "Overall, California cities fall behind for tech employment growth over the last three years and the gender pay gap. The highest ranked California city is Sacramento which ties for No. 11 with Nashville, Tennessee."

Houston ranked No. 6 on the same study in 2020 and No. 4 in 2019.

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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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