Cha-ching

MassChallenge Texas wraps up inaugural Houston cohort with top 3 startups and a surprise investment

MassChallenge Texas named its top three startups of its inaugural Houston cohort and the Houston Angel Network made an unexpected investment. Courtesy of MassChallenge Texas

A new-to-Houston global accelerator program just concluded its inaugural cohort, naming three top startups and providing a platform for an unexpected prize — an investment.

MassChallenge Texas didn't originally intend to have monetary prizes for this first program, however, thanks to Houston Angel Network, one lucky startup is walking away from the program $40,000 richer.

HAN, one of Houston's oldest and most active group of angel investors, saw pitch decks from most of the companies in the cohort and then invited seven companies to pitch: Ask DOSS, Celise, DoBrain, NeuroRescue, Noleus Technologies, Sensytec, and Swoovy.

At the September 5 startup showcase event, HAN named Houston-based Sensytec as the winner of the $40,000 investment prize.

The night's other big winners were MassChallenge's top three startups, program: NeuroRescue, Noleus Technologies, and Sensytec, which were selected from the top six startups that were announced a couple weeks in advance.

HAN engaged with the MassChallenge group in a few ways — like mentorship or presenting — but managing director Stephanie Campbell says she knew she wanted to discuss investment opportunities from the very beginning.

"I just think it's really important that when a new group like MassChallenge or any other accelerator come into town that we find ways to fold them into our community and help them be successful," she tells InnovationMap.

All of this year's cohort will receive 18 months of free coworking space — six months at MassChallenge, six months at The Cannon, and six months at Station Houston — and the top three startups will receive automatic entry into another MassChallenge cohort. Because no one won a cash prize from MassChallenge directly, all of the startups are eligible to reapply for another program.

"We wanted to make sure that the companies that went through the shortened version of the program this year have the ability to apply next year to any other program," MassChallenge Texas' Houston managing director, Jon Nordby, says.

Next time around, MassChallenge Texas will likely have a longer program with money on the table. That money would be provided by the organization's corporate partners. The city of Houston has put forth $2.5 million to be dealt out over five years, and Houston-based Reliant Energy has become a central partner to MassChallenge.

"We believe in supporting organizations that are pushing the boundaries and really making an impact in the community as well as the economy and the industry," says Elizabeth Killinger, president at NRG Retail and Reliant.

Killinger says next year she expects Reliant to be just as if not more involved with the process. Campbell too says HAN is interested in continuing its work with MassChallenge, and even sees it setting an example for other angel investors to get involved too.

"We're just planting the seed for the next cohort," Campbell says.

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Building Houston

 
 

The Ion has announced its latest startup-focused program. MediaTech Venture's Houston startup incubator is launching next month. Photo courtesy of the Ion

Houston has a new incoming incubator program for innovators within the media technology space.

The Ion announced a new partnership with MediaTech Ventures, an Austin-based global media industry venture development company, that will bring the MediaTech incubator program to Houston. Applications are open now, and the first cohort will kick off the program in January.

“Modern media has to continually evolve and adapt to new market channels, and with each platform comes the opportunity for innovation to leverage what is possible. It’s why Houston continues to build its market and resources for media technology entrepreneurs and startups looking to make an impact in this constantly evolving space,” says Jan E. Odegard, executive director of the Ion, in a news release.

“We’re thrilled to partner with MediaTech Ventures to further bolster the startups that are an integral part of our innovation community," he continues.

The 12-week program will help early-stage companies tackle marketing, development, and production with education and mentorship with MediaTech Ventures' startup curriculum and platform. The Ion will house the initiative and startups will have access to the hub for programming and networking.

“Ion is the perfect home for our incubator program,” says Josh Sutton, Houston Program Manager at MediaTech Ventures, in the release. “Our goal is to not only tap into the Ion’s valuable innovation ecosystem both within its four walls and beyond it, but to catalyze the development of media technologies and offer more resources for entrepreneurs looking to advance modern media.”

Founded in 2016 to advance the media technology economy, MediaTech Ventures focuses on "unifying innovation with capital, and validating and scaling technology-enabled media startups," per the news release. The program's startups have raised over $10 million following the completion of the curriculum.

An info session is taking place on December 5 at Second Draught in the Ion, and interested applicants can meet, ask questions, and learn more about the program.

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