women in business

Texas ranks as a top state for female entrepreneurs

Texas takes a stumble on an annual list that identifies the top states for female founders. Photo via Getty Images

Texas dropped three spots in Merchant Maverick’s annual ranking of the top 10 states for women-led startups.

The Lone Star State landed at No. 5 thanks in part to its robust venture capital environment for women entrepreneurs. Last year, Texas ranked second, up from its No. 6 showing in 2021.

Merchant Maverick, a product comparison site for small businesses, says Texas “boasts the strongest venture capital scene” for women entrepreneurs outside California and the Northeast. The state ranked fourth in that category, with $6.5 billion invested in the past five years.

Other factors favoring Texas include:

  • Women solely lead 22 percent of all employees working for a business in Texas (No. 4).
  • Texas lacks a state income tax (tied for No. 1).

However, Texas didn’t fare well in terms of the unemployment rate (No. 36) and the rate of business ownership by women (No. 29). Other Texas data includes:

  • Average income for women business owners, $52,059 (No. 19).
  • Early startup survival rate, 81.9 percent (No. 18).

Appearing ahead of Texas in the 2023 ranking are No. 1 Colorado, No. 2 Washington, No. 3 California, and No. 4 Arizona.

Another recent ranking, this one from NorthOne, an online bank catering to small businesses, puts Texas at No. 7 among the 10 best states for women entrepreneurs.

NorthOne says Texas provides “a ton of opportunities” for woman entrepreneurs. For instance, it notches one of the highest numbers of women-owned businesses in the country at 1.4 million, 2.1 percent of which have at least 500 employees.

In this study, Texas is preceded by Colorado at No. 1, Nevada at No. 2, Virginia at No. 3, Maryland at No. 4, Florida at No. 5, and New Mexico at No. 6. The rankings are based on eight metrics, including the percentage of woman-owned businesses and the percentage of women-owned businesses with at least 500 employees.

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Building Houston

 
 

Cemvita has some news regarding its C-level execs. Photo courtesy of Cemvita

An innovative Houston startup that's working with energy companies to decarbonize their operations has made changes to its C-suite.

Tara Karimi, who co-founded Cemvita with her brother Moji, has transition to the company's chief science officer. Liz Dennett has been hired to Karimi's previous role of CTO. The changes enable Karimi to focus on leading Cemvita's scientific research and development efforts as well as participating in driving innovation within the biotech industry as a whole, according to the company's press release.

"I'm excited to take on the role of chief science officer at Cemvita and what it represents for our company's growth," says Karimi in the release. "As chief science officer, I look forward to shaping policy and driving the conversation around the role of biotechnology in the energy transition."

As CTO, Dennett will lead the development of Cemvita's unique biotech products that tap into microbes to decarbonize operations on energy plants. Most recently, Dennett was vice president of data architecture and data engineering at Wood Mackenzie. She previously worked in tech and sustainability-focused roles at Hess Corp., Biota Technology, and Amazon Web Services.

“Working with biological systems presents a unique challenge but also a unique opportunity," says Dennett in the release. "It’s uniquely difficult to go from benchtop to in-situ reactors or oil wells with microbes and to achieve the kind of incredible results that we’re seeing in the lab. You need to build teams with deep specializations in chemistry, biology, energy systems, and geology.”

Dennett, who has her PhD and Master's from the University of Wisconsin-Madison and has served on Cemvita's advisory board for about a year, will report to CEO Moji Karimi directly.

“I know that Tara and Liz are going to make history at Cemvita,” says Moji Karimi in the release. “With 15 years of experience using data-driven approaches to solve pressing energy challenges, Liz brings to bear the kind of creativity and expertise that can quickly and meaningfully advance Cemvita’s impact on the Energy Transition.”

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