Masschallenge accepted

International accelerator launches next program in downtown Houston

Midway's GreenStreet in downtown will be the site of MassChallenge Texas' Houston program. Photo via greenstreetdowntown.com

Houston entrepreneurs will have a new accelerator program to choose from — and this one has an international presence.

MassChallenge Texas, which launched in Austin last year, has expanded to include a Houston program that will operate out of downtown's GreenStreet, which is owned and operated by Houston-based Midway Cos. Applications for the 2019 cohort open in April, and the six week program runs from July through August.

The program looks for applicants that haven't raised more than $500,000 in equity-based funding and have generated less than $1 million in revenue over the past year, a release says. The cohort will support 25 startups with free GreenStreet office space, mentorship, investment opportunities, and more, all the while taking no equity in the companies.

By expanding to Houston, MassChallenge Texas is continuing its commitment to strengthening and growing the innovation ecosystem across the Lone Star State, working to make Texas the best place in the world to innovate.

Almost two years ago, the city released a report in which a task force investigated matters pertaining to innovation in Houston.

"In this report, we realized that Houston has a thriving innovation economy, but its potential is limited by the absence of a flourishing startup community," says Mayor Sylvester Turner in a release. "A key recommendation was to create critical mass in a few key areas with access to 'legacy industry' and institutional players as well as an unparalleled array of amenities."

On par with this dedication to developing innovation in Houston, the Downtown Redevelopment Authority has approved an economic development grant to operate the program. The grant will cover up to $2.5 million of operation costs to be distributed to the organization over five years, the release says.

"MassChallenge is an opportunity that we pursued in earnest," says Bob Eury, president of Central Houston and the Downtown Redevelopment Authority, says in the release. "[The grant is] an investment that we believe will garner long-term results for the GreenStreet development, Downtown and the Houston region."

MassChallenge also has locations in Boston, Israel, Mexico, and Switzerland, as well as vertical programs focused on digital health and fintech. Its Texas program was the second location in the United States and the seventh in the world. Since the April 2018 launch in Austin, MassChallenge Texas and its partners have worked to accelerate 84 companies from 5 continents, 11 countries, and five Texas cities and doled out $500,000 to startups.

"The success of the inaugural MassChallenge Texas accelerator proves that the MassChallenge model works in Texas," says John Harthorne, CEO of MassChallenge, in the release. "Houston has a strong emerging entrepreneurial ecosystem and is home to technology-advanced legacy industries—such as energy, life sciences and aerospace — that can be leveraged to help startups at their earliest stages. We are excited to bring MassChallenge to Houston."

This week's innovators to know represents a homecoming, an accelerator launch, and a call for tech education. Courtesy photos

This week's innovators to know span across industries — from sports tech to education, but they are all fighting for something here in Houston. Here's what they are focused on bringing to the Houston innovation ecosystem.

Mike T. Brown, founder of Win-Win

Courtesy of Win-Win

Mike T. Brown decided to move his Silicon Valley sports tech platform that gamifies charitable donations to his hometown of Houston. Win-Win, which launched in 2016 and since raised $1.2 million in funding, is ready to scale and launch full-scale during the 2019 NFL season.

"I couldn't be more excited about returning to Houston to become a part of the city's tech revolution," says Brown in the release. "After visiting The Cannon, I immediately felt the energy and have witnessed their commitment to pushing Houston's tech startup movement. I can't wait to get fully plugged into the city's ecosystem, to start hiring local talent and raising money from local investors." Read more about Brown and Win-Win here.

Yvette Casares Willis, director of strategic partnerships for MassChallenge Texas

Courtesy of MassChallenge Texas

Yvette Casares Willis has been working to put Houston on the map for MassChallenge Texas, and her work is finally coming to fruition. The organization opened applications for its inaugural cohort last week. As excited as she is to work with the cohort, Willis is looking forward to what it means for the program to arrive in Houston and help to connect the dots across the city's innovation ecosystem.

"I'm excited about what Houston has to offer," says Willis, who is the director of partnerships for the organization. "We have everything we could possibly provide in this ecosystem to be amazing, as long as we all work together. If we can all collaborate and if we all have the same mission, we can really make a difference in Houston." Read more about Willis and MassChallenge Texas here.

TeKedra Pierre, internship coordinator at The Village School

Courtesy of The Village School

Tekedra Pierre's job is to help students be aware of real-life needs in the workforce through internship programs. And what's extremely clear to Pierre is the need for more professionals in tech — specifically the cybersecurity space. She wrote a piece for InnovationMap on the subject.

"Employers struggle to keep employees up to speed on the latest technologies and skill sets needed to succeed and thrive in the rapidly changing and evolving business landscape," she writes. "To remain competitive, Houston businesses must attract qualified workers to fill these positions that range from cybersecurity to industrial technology, engineering and medicine. And the earlier we can reach them, the better." Read Pierre's piece here.