best in class

MassChallenge Texas names top startups from its inaugural Houston cohort to move on to the final round

MassChallenge Texas named six companies, which will each pitch at a final competition on September 5. Photo via greenstreetdowntown.com

MassChallenge Texas revealed the cream of the crop from its first Houston cohort. The top six startups will now be judged in one final pitch competition on September 5.

"Each of the 25 startups in our first cohort have made incredible progress during this short program and are now better prepared to make impact in Houston, Texas, and beyond," says Jon Nordby, managing director of MassChallenge Texas in Houston, in a release. "It is our goal to strengthen the local ecosystem through a collaborative community that will attract innovators from around the world to Houston, and the Lone Star State."

The program, which began on July 26, accelerated 25 early-stage companies from around the world with mentorship, corporate partnerships, curriculum, and more. No equity was taken by the program and it's free for the selected companies to attend.

"It is an honor to support the inaugural MassChallenge Texas accelerator in Houston and the incredible journey these startups have been on," says Elizabeth Killinger, president of Reliant and NRG Retail, in a release. "We're excited to be part of the thriving startup culture in Houston, and we look forward to all that this program will continue to bring to our city."

A panel of judges selected the top six, and now they face off for a set of prizes, which will be revealed at the Houston Finale. According to a spokesperson, the judges ahead of the event will decide on the winning company or companies and delegate prizes as they see fit.

The companies involved with supporting the accelerator include: Southwest Airlines, TMAC, WeWork, Upstream, USAA, BAE Systems, Brex, BHP, Central Houston, City of Houston, Houston Texans, Ingram Micro, Lionstone Investments, Midway, Reliant, San Antonio Spurs, Winstead Attorneys. Event and media partners are Insperity, Mattress Firm, Southwest Research Institute, Juice Consulting and Texas Squared Startup Newsletter.

FloodFrame

Houston-based FloodFrame is a company that provides self-deploying flood protection devices for residential and commercial real estate properties. Read more about the company here.

Mak Studio

Another Houston company — Mak Studio — makes the top startups list. The company provides interior design efforts made easy.

Neuro Rescue Inc.

NeuroRescue Inc. is an Ohio-based company that improves the standard of care used to treat stroke, brain injury, and cardiac arrest to increase neurological outcome by up to forty percent.

Noleus Technologies Inc.

Houston-based Noleus Technologies Inc. — a member of the TMCx07 cohort — has created a solution that reduces swelling in the bowels after operation. The disposable device is inserted into the abdomen at the time of surgery, and folds up like a fan to be removed without another surgery.

Reveal Technologies

Another Houston-based medical device company making it into MC's top 6 companies is Reveal Technologies, which uses a dual camera technology to help the 17 million Americans who suffer from retinal diseases to improve their sight.

Sensytec Inc.

Last but not least is Houston-based Sensytec Inc. The company has a "smart concrete" technology that is making moves in the energy industry.

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this one's for the ladies

Texas named a top state for women-led startups

A new report finds that the Lone Star State is ideal for female entrepreneurs. Photo via Getty Images

Who runs the world? According to Merchant Maverick's inaugural Best States for "Women-Led Startups'' study, Texas is a great place for women to be in charge.

The Lone Star state cracked the top 10 on the list, earning a No. 6 spot according to the small business reviews and financial services company, which based the study on eight key statistics about this growing segment of the economy. Colorado (at No. 1), Washington, Virginia, Florida, and Montana were the only states to beat out Texas on the rankings—leading the Merchant Maverick team to conclude that "the part of the country that lies west of the Mississippi is great for startups led by women entrepreneurs."

Women-led startups in Texas received $365 billion in VC funding in the last five years, the report found. This is the seventh largest total among U.S. states. Too, about 20 percent of Texans are employed at woman-led firms, which is the fifth highest percentage among states. Roughly 35 percent of employers in Texas are led by women.

A few other key findings that work in female founders' favor: The startup survival rate in Texas is nearly 80 percent. And a lack of state income tax "doesn't hurt either," the report says.

Still there are shortcomings. On a per capita basis, only 1.27 percent of Texas women run their own business. The average income for self-employed women is also relatively low ranking among states, coming in around $55,907 and landing at 31st among others.

This is not the first time Texas has been lauded as a land of opportunity for women entrepreneurs. A 2019 study named it the best state for business opportunities for women. Houston too has proven to support success for the demographic. The Bayou City was named in separate studies a best city for female entrepreneurs to start a business and to see it grow.

Still, as many findings have concluded, the realities of the pandemic loom for all startups and small business owners. The Merchant Maverick study was careful to add: "The pandemic has changed the economic landscape over the past year, and often for the worse.

"This means that not every metric may be able to accurately gauge how a state might fare amidst the pandemic," the report continues. "To help factor in COVID's impact, we included some metrics that take 2020 into account, but it will be a while until we get a full picture of the pandemic's devastation.""

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