Houston tech company hires innovator to lead startup accelerator
A Houston software company has announced a new leader of its venture studio that supports tech startups.
Softeq Development Corp. has named Payal Patel as director of the Softeq Venture Studio. The studio, which announced its inaugural cohort last fall, a startup accelerator that provides business mentoring and engineering development resources. Recently, Softeq announced the $40 million Softeq Venture Fund that will support the operations and invest in member companies.
“We’re thrilled to have Payal join the team at Softeq. Her in-depth knowledge of the Houston startup community combined with her management consulting background makes her uniquely qualified for her new role,” says Christopher A. Howard, Softeq founder and CEO.
Patel will oversee programming and operation for the studio, and she will help in in selecting startups for investment as principal of the fund.
“I’m excited to join the talented team at Softeq," she says. "Having been a part of the Houston tech and startup community for a few years, I see a niche our team can fill. We aim to do our part supporting founders by providing capital, advice, and helping level up the community."
Patel joins Softeq most recently from Plug and Play's Houston office, which focuses on energy and sustainability startups, where she served as director of the program. She began her career as a management consultant for restructuring firm Alvarez & Marsal before she transitioned to running the corporate business development function for Station Houston.
Softeq Venture Studio is currently accepting applications for its spring cohort, which will run April to June, and applications are available online. The deadline for applications is Saturday, March 19. Candidates who apply for the program receive $125,000 in cash and services in exchange for 6 percent equity in their eligible company.