12 health tech startups named to Houston accelerator's next bootcamp

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Meet the latest global health tech startups to get an invite to Houston from TMC Innovation. Photo via tmc.edu

Twelve promising health tech startups have been selected for the annual bootcamp at the Texas Medical Center.

TMC's Accelerator for HealthTech selected 12 companies from around the world and across specialties for the opportunity. Following the bootcamp, TMC will move forward a selection of startups to join its accelerator.

"Houston, a thriving hub for innovation, is rapidly becoming the destination of choice for healthtech companies," reads a statement from TMC. "With the Texas Medical Center at its heart, the city offers unparalleled resources, cutting-edge research facilities, and a collaborative spirit that fosters growth. This environment not only attracts startups but also provides them with the necessary tools to navigate the complex landscape of healthcare commercialization."

Through the bootcamp, the participants will engage with advisors and industry experts, refine their business models, prepare for market entry, and have opportunities for collaboration with the TMC's member organizations.

The selected bootcamp companies, according to TMC, include:

  • Alyf, founded in Newport Beach, California, has developed a personalized cardiac care system that brings patients and providers together with real-time, AI-driven insights, enabling them to monitor, track, and improve cardiac health outcomes collaboratively.
  • Seoul, South Korea-based Deepmetrics leverages artificial intelligence to provide ICU smart care services that optimize medical device settings, such as mechanical ventilators, to reduce mortality and shorten the length of stay for critically ill patients worldwide.
  • EquityQuotient, from New York City, is a healthcare intelligence platform that automates compliance and provides actionable insights by aggregating public, private, and first-party data, using proprietary analytics to help leaders address disparities, improve outcomes, and lower care costs.
  • Also from New York City, Ethermed's AI-powered solution streamlines prior authorizations, eliminating up to 90 percent of auths and 70 percent of the labor involved. Ethermed requires no workflow changes, is fully auditable, and offers aligned incentives from a mission-driven, human-focused company.
  • Fibricheck, based in Hasselt, Belgium, transforms ordinary smartphones into regulated digital heart rhythm monitors, offering unparalleled access to cardiovascular diagnostics for patients and streamlined workflows for physicians.
  • Austin-based NearWave has developed a non-invasive, AI-powered handheld imaging device that can predict breast cancer therapy response within seven days.
  • Pragmaclin, founded in Newfoundland, Canada, developed a cutting-edge PRIMS (Parkinson’s Remote Interactive Management System) that leverages depth cameras and machine learning to monitor and assess Parkinson’s Disease symptoms, offering healthcare professionals remote and in-clinic insights to enhance treatment decisions.
  • Somnair, a Baltimore, Maryland, company, is developing a non-invasive neurostimulation oral appliance for treating obstructive sleep apnea, offering a sleek, retainer-sized device that provides an effective alternative to CPAP or invasive surgery for millions of patients.
  • Vancouver, Canada-headquartered Total Flow Medical is developing solutions to enhance the quality of care and life for patients requiring the use of a heart-lung machine during surgery or life support.
  • Tympulse, hailing from Dublin, Ireland, is commercializing TympanoColl, an innovative and disruptive solution for eardrum (Tympanic Membrane) repair in an outpatient setting through the ear canal.
  • Perth, Australia-based Vital Trace is developing a continuous lactate monitor for real-time, accurate detection of fetal distress.
  • New York City's WorkUp is a healthcare-specific talent pipeline management platform that connects students with tailored resources for their clinical career journey, providing personalized support as their needs evolve.
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Houston experts: Can AI bridge the gap between tech ambitions and market realities?

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Despite successful IPOs from the likes of Ibotta, Reddit and OneStream, 2024 hasn’t provided the influx of capital-raising opportunities that many late-stage tech startups and venture capitalists (VCs) have been waiting for. Since highs last seen in 2021—when 90 tech companies went public—the IPO market has been effectively frozen, with just five tech IPOs between January and September 2024.

As a result, limited partners have not been able to replenish investments and redeploy capital. This shifting investment landscape has VCs and tech leaders feeling stuck in a holding pattern. Tech leaders are hesitant to enter the public markets because valuations are down 30 percent to 40 percent from 2021, which is also making late-stage fundraising more challenging. After all, longer IPO timelines mean fewer exit opportunities for VCs and reduced capital from institutional investors who are turning toward shorter-term investments with more liquid exit options.

Of course, there’s always an exception. And in the case of a slowed IPO market, a select slice of tech companies—AI-related companies—are far outperforming others. While not every tech startup has AI software or infrastructure as their core offering, most can benefit from using AI to revise their playbook and become more attractive to investors.

Unlocking Growth Potential with AI

While overall tech startup investment has slowed, the AI sector burns bright. This presents an opportunity for companies that strategically leverage AI, not just as a buzzword but as a tool for genuine growth and differentiation. Imagine a future where AI-powered insights unlock unprecedented efficiency, customer engagement and a paradigm shift in value creation. This isn’t just about weathering the current storm of reduced access to capital; it’s about emerging stronger, ready to lead the next wave of tech innovation.

Here's how to navigate the AI frontier and unlock its potential:

  1. Understand that data is the foundation of AI success. AI is powerful, but it’s not magic. It thrives on high-quality, interconnected data. Before diving into AI initiatives, companies must assess their data health. Is it structured in a way that AI can understand? Does it go beyond raw numbers to capture context and meaning—like customer sentiment alongside sales figures? Rethinking data infrastructure is often the crucial first step.
  1. Focus on amplifying strengths, not reinventing the wheel. The allure of AI can tempt companies into pursuing radical reinvention. However, a more effective strategy is to leverage AI to enhance existing strengths and address core customer needs. Why do customers choose your company? How can AI supercharge your value proposition? Consider Reddit’s strategic approach: They didn’t overhaul their platform before their 2024 IPO. Instead, they showcased the value of their vast online communities as fertile ground for AI development, leading to a remarkable first-day stock surge of 48 percent.

  2. Use AI as a customer-centric force multiplier. Companies with a deep understanding of their customer base are primed for AI success. By integrating AI into the very core of their product or service—the reason customers choose them—they can create a decisive competitive advantage based on delivering tangible customer value.

From Incremental Gains to Transformative Growth

This practical, customer-centric approach has the potential to help companies generate immediate growth while laying the foundation for future reinvention. By leveraging AI to optimize operations, deepen customer relationships, and redefine industry paradigms, late-state tech startups can not only survive but thrive in a dynamic market. The future belongs to those who embrace AI not as a destination but as a continuous journey of innovation and growth.

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Hong Ogle is the president of Bank of America Houston. Rodrigo Ortiz Gomez is a market executive in Bank of America’s Transformative Technology Banking Group as well as the national software banking lead for the Global Commercial Bank.

Houston joint venture secures $5.2M for AI-powered methane tracking tech

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Houston-based Envana Software Solutions has received more than $5.2 million in federal and non-federal funding to support the development of technology for the oil and gas sector to monitor and reduce methane emissions.

Thanks to the work backed by the new funding, Envana says its suite of emissions management software will become the industry's first technology to allow an oil and gas company to obtain a full inventory of greenhouse gases.

The funding comes from a more than $4.2 million grant from the U.S. Department of Energy (DOE) and more than $1 million in non-federal funding.

“Methane is many times more potent than carbon dioxide and is responsible for approximately one-third of the warming from greenhouse gases occurring today,” Brad Crabtree, assistant secretary at DOE, said in 2024.

With the funding, Envana will expand artificial intelligence (AI) and physics-based models to help detect and track methane emissions at oil and gas facilities.

“We’re excited to strengthen our position as a leader in emissions and carbon management by integrating critical scientific and operational capabilities. These advancements will empower operators to achieve their methane mitigation targets, fulfill their sustainability objectives, and uphold their ESG commitments with greater efficiency and impact,” says Nagaraj Srinivasan, co-lead director of Envana.

In conjunction with this newly funded project, Envana will team up with universities and industry associations in Texas to:

  • Advance work on the mitigation of methane emissions
  • Set up internship programs
  • Boost workforce development
  • Promote environmental causes

Envana, a software-as-a-service (SaaS) startup, provides emissions management technology to forecast, track, measure and report industrial data for greenhouse gas emissions.

Founded in 2023, Envana is a joint venture between Houston-based Halliburton, a provider of products and services for the energy industry, and New York City-based Siguler Guff, a private equity firm. Siguler Gulf maintains an office in Houston.

“Envana provides breakthrough SaaS emissions management solutions and is the latest example of how innovation adds to sustainability in the oil and gas industry,” Rami Yassine, a senior vice president at Halliburton, said when the joint venture was announced.

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This story originally appeared on our sister site, EnergyCapitalHTX.com

Houston consulting firm opens innovation hub for business AI in collaboration with SAP

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Houston’s Sierra Digital has launched Sierra AppHaus Houston, an innovation hub for business AI in collaboration with the the AppHaus program from software giant SAP.

Sierra Digital is the second U.S. partner to join the SAP AppHaus Network, a group of spaces focused on leveraging SAP products and technology. The operation is connected to Sierra Digital’s offices in the Sharpstown area. It features three meeting rooms and a large conference room, and can host workshops for more than 100 participants.

“Sierra Digital has been recognized as a perfect addition to the SAP AppHaus Network,” Carlos Estala Velasco, co-lead SAP AppHaus Partner Network, said in a news release. “With a committed AppHaus team equipped to apply our award-winning human-centered innovation approach, they are able to inspire and support customers throughout their journey to realize innovation. We eagerly anticipate co-innovating with the local team!”

Sierra Digital, founded in 2002, focuses on modernizing legacy SAP systems. It has developed a library of over 30 pre-built business technology applications (BTA) and is also one of the first SAP partners to develop and implement use cases for business AI. The company is also a leading member of the SAP BTP Advisory Council.

Sierra’s portfolio of pre-built BTP applications helps streamline operations by automating tasks like business partner onboarding and revenue processing with AI-driven insights. The company works in the oil and gas, chemical, manufacturing, retail and public sectors.

The first SAP AppHaus location was established in 2013, and there are now 25 globally. Three of the locations are owned by SAP, and 22 are managed by partners, including Sierra Digital. According to a LinkedIn post, Sierra Digital plans to use the Houston space for design-thinking workshops, tech discussions and even hackathons.

"We are proud to be part of the SAP AppHaus Network and to contribute our design and innovation expertise," Senthil Kumar, CEO and chairman of Sierra Digital, said in a news release. "This collaboration with SAP allows us to co-create impactful solutions that accelerate digital transformation for our clients and strengthen our regional presence."

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