Eye on Ion

Rice University's Midtown innovation hub dubbed The Ion takes shape

The historic Sears building in Midtown will transform into The Ion, a Rice University-backed hub for innovation. Courtesy of Rice University

Houston's innovation district is one step closer to the Midtown hub it was promised early last year. Rice University announced the construction details of the historic Sears building's transformation into The Ion, as it's now called.

"We chose the name Ion because it's from the Greek ienai, which means 'go'" says Rice University president David Leebron in the release. "We see it as embodying the ever-forward motion of discovery, the spark at the center of a truly original idea. It also represents the last three letters in many of the words that define the building's mission, like inspiration, creation, acceleration and innovation."

Construction on the 270,000-square-foot building will begin in May, according to Rice's release, and is expected to conclude by the end of next year. The cost of the project wasn't disclosed with the announcement. The building will serve as a coworking space, provide resources for entrepreneurs and startups, and host events, the release says, as well as offer retail space for restaurants and entertainment amenities.

"I gleefully applaud this next giant step in the creation of an innovation hub that will take Houston closer to becoming a world leader in data science and digital technologies" says Houston Mayor Sylvester Turner in the release. "As I said last year when the idea was unveiled, we have to leap, not stroll, into the economic frontier. Now the physical transformation of The Ion will help get us there."

Leading the project is the Rice Management Company, and Rice will provide academic programming, along with other educational institutions including the University of Houston, UH-Downtown, the University of St. Thomas, Houston Community College, Texas Southern University, Houston Baptist University, San Jacinto College, and the South Texas College of Law. Station Houston has been named as the programming partner and will have a huge presence in the hub.

"The Ion will inspire open innovation between universities, global corporations and investors," says Gabriela Rowe, CEO of Station Houston, in the release. "Students and faculty members from institutions like Rice University and the University of Houston will coexist and collaborate with scientists from Houston's other great institutions. Investors and corporations will meet face to face with startup entrepreneurs. Together, at The Ion, they will transform Houston into a thriving, connected, high-tech ecosystem."

Houston-based Hines was listed as the developer, and other dealmakers include New York-based SHoP Architects, James Carpenter Design Associates, James Corner Field Operations, and Gensler's Houston office. The Ion's transformation will include removing the '60s-era metal cladding, but the structure will maintain its original art deco façade.

This is the first phase of development for Houston's innovation district — a 16-acre plan for Midtown, according to the release, and the district will also feature housing, public spacing, and important infrastructure.

"We are eager to contribute to an enhanced quality of life for residents and visitors of Midtown Houston," said Matt Thibodeaux, executive director of Midtown Houston. "The Midtown innovation district is an embodiment of our shared community vision to give professionals and families a means of seizing opportunity as Houston continues to grow as a leading city in technology."

Courtesy of Rice University

TMCx is looking for members for its ninth cohort. Courtesy of TMCx

From rounds closing to accelerator applications opening, there's a lot of Houston innovation news that might not have reached your radar. Here's a roundup of short stories within tech and innovation in the Bayou City.

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Houston software company closes a $16.3 million Series A

Industrial software

Innovapptive raised its round lead by a New York-based firm. Getty Images

Innovapptive, a software-as-a-service company with clients in industrial industries, announced it closed on a $16.3 million Series A investment led by New york-based Tiger Global Management LLC. The company will use the funds for continued global growth. As of the raise's completion, company's valuation is now more than $65 million.

"We are connecting the enterprise by providing a platform that improves real-time data collaboration and communications between the field and back office. The communications and collaboration data are captured and converted into executive insights for continuous workforce optimization," says Sundeep Ravande, CEO and co-founder of Innovapptive, in a press release. "This additional capital will allow us to accelerate our strategy and development to transform the digital experience of the industrial worker to help increase revenues and margins for our customers."

TMCx opens its medical device cohort applications

The deadline to apply for the next TMCx cohort is May 24. Courtesy of TMC

The Texas Medical Center has announced that TMCx's 2019 medical device cohort applications are now open. The deadline to apply is May 24, and selected companies will be notified by June 21. The program will run from August 5 to November 8th. For more information, click here.

Nesh closes Seed round of funding

Aristos Ventures lead the round for the Houston energy startup. Courtesy of Nesh

The Siri of oil and gas, Hello Nesh Inc, has raised its first round of funding thanks to seed funding from Aristos Ventures and a LOOP contract with Equinor Technology Ventures. The funding will be used for new hires and expansion plans.

"Securing LOOP funding from ETV and seed funding from Aristos provides us with a unique mix of strategic knowledge and domain expertise, coupled with investment experience in digital technologies, artificial intelligence, and SaaS," says co-founder and CEO of Nesh, Sidd Gupta in a release. "This will enable us to further build Nesh's petrotechnical and natural language understanding and scale our business in the North America market."

ETV has chosen not to disclose the dollar amount of the round, however last fall Gupta at the Texas Digital Summit, Gupta announced that the company was seeking to close a $800,000 seed round. Read more about the company here.

Shell Oil Co. gives $2.5M to fund research, inform public policy at Rice University’s Baker Institute

Shell and Rice University have entered a partnership. Courtesy of Rice University

Following a $2.5 million commitment from Shell Oil Co., the Center for Energy Studies at Rice University's Baker Institute for Public Policy has announced five-year research program to study the global energy system — including the policies, regulations, geopolitical forces, market developments and technologies.

"We are grateful for Shell's commitment to advancing the study of critical energy issues affecting our region, the nation and the world," says Baker Institute Director Edward Djerejian in a release. "This partnership with Shell furthers our mission to provide unbiased, data-driven analysis of factors that will shape our energy future with the aim of engaging policymakers, corporate leaders and the general public with the results."

Texas improves its ranking as an innovative state

The Lone Star State is moving on up as an innovative state. Getty Images

Texas is slowly but surely moving on up as an innovative state. According to Bloomberg's newest U.S. State Innovation Index, Texas is the 17th best state for innovation. The study factors in six metrics: research and development intensity, productivity, clusters of companies in technology, "STEM" jobs, populous with degrees in science and engineering disciplines, and patent activity. Last year, the study found Texas at the No. 19 spot.

Texas' score was 60.1 — which is just over a point's difference from being in the top 15. It's also worth noting that the Lone Star State is the highest ranked in the south.

"What is most important is the construction and catalyzation of super vibrant advanced industry sectors and clusters in a state," says Mark Muro, a senior fellow at Brookings, a think tank in Washington DC, to Bloomberg. "Commercialization has not been a top priority of universities in the heartland, especially in the South."

Houston companies take home Napier Rice Launch Challenge prizes

Abbey Donnell's startup, Work & Mother, won the award for the Best Alumni team at the H. Albert Napier Rice Launch Challenge at Rice University. Courtesy of Work & Mother

On April 4, 10 teams competed in the H. Albert Napier Rice Launch Challenge at Rice University. Here are the Rice University alumni- and student-led companies that won awards.

  • LilySpec took home $2,500 as the Audience Favorite award winner.
  • CardStock Exchange won $12,500 in the Best Undergraduate category.
  • WellWorth walked away with $12,500 as the Best Graduate team winner.
  • Abbey Donnell, founder of Work & Mother, took home first place the Best Alumni category — along with $12,500.
  • UrinControl was the Grand Prize winner and scored $20,000.

BBL reverse pitch contest extends deadline

The deadline for a new pitch competition with ExxonMobil and BBL Ventures has been extended. Getty Images

BBL Ventures, which announced its reverse pitch competition with ExxonMobil earlier this year, has extended the challenge deadline to May 13.

"BBL Ventures is excited to be working with a forward-thinking partner like ExxonMobil, engaging the external innovation ecosystem is a key step in advancing the energy industry's continued success," says Patrick Lewis, managing partner of BBL Ventures, in a release. Full details for the competition are available here.

Startup Grind Houston is calling all female founders

pitch

Calling all female founders. Getty Images

Houston's Startup Grind chapter announced a female founder pitch event on May 2 at the TMC Innovation Institute. The organization is calling for teams to pitch at the event. The deadline to apply is April 23 at 5 pm.

Click here to nominate yourself or someone else for the pitch.

Sysco invites UH tech students to first-ever UHacks Hackathon competition

Sysco and AWS are teaming up for a hackathon. Getty Images

Houston-based Sysco Corp. — along with Amazon Web Services — is hosting its first-ever, university student-led hackathon event. The one-day competition takes place on Friday, April 19, from 8 am to 5 pm at the new Houston office of AWS ( 825 Town & Country Lane, 10th floor).

The student teams with focus on four hypothetical themes in Sysco's business landscape, including a spend management platform enhancing the customer shopping experience, identifying locally grown foods, proof of purchase technology, and a "best before" portal to streamline expiration data.