Six Rice University student-led startups pitched and were awarded $75,000 in equity-free funding. Photo courtesy of Rice

Rice University's six student startup teams competed for thousands of dollars in investment prizes, and one company came out on top — but a few other companies walked away with fresh funding too.

The 2022 H. Albert Napier Rice Launch Challenge doled out $75,000 to student-founded companies at Rice last week. Helix Earth Technologies, which has developed a filter that helps limit water waste in power plants, and its founder, Rawand Rasheed, a doctoral candidate in mechanical engineering at Rice University, won first place ans $35,000. The company been testing its technology on the power plants on campus.

The second-place team was EpiFresh, which created a protein-based coating doubles the shelf-life of fruit and vegetables, won $25,000. Guildata, which provides global health organizations with data that shows the greatest return on investment, won third place and $10,000.

The competition also included three additional awards:

  • Guildata won the $1,000 RISE@Rice: The Sen Social Pioneer Prize
  • SkySpace won the $1,500 Frank Liu Jr. Prize for Creative Innovations
  • Aqualight Materials won the $2,500 Chevron Tech Ventures Climate Innovations Prize
  • Berman Foods, an artisanal plant-based cheese and spread provider, won the $1,500 Norman E. Leebron Audience Choice Award

This year's competition saw participation from almost 200 students and a record 84 teams. The Liu Idea Lab for Innovation and Entrepreneurship whittled those entries down for judges, which included Thomas Ball, co-founder and managing director at Next Coast Ventures; Lisa Besserman, managing director at Expa; and Xiaodi Zhang, chief product officer at 1stDibs. On April 20, six finalists pitched in the championship round in five-minute pitches followed by seven minutes of questions.

Additionally, all competitors received personalized mentoring from experienced entrepreneurs, investors, and subject matter experts. The program started in 2017 with 15 student-run companies vying for a win. This year's NRLC was sponsored by Mercury Fund, T-Minus Solutions, and Chevron Technology Ventures.

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

Mark Cuban calls AI ‘the greater democratizer’ for young entrepreneurs

eyes on AI

Texas billionaire Mark Cuban—whose investment portfolio includes Houston-based Holliball, a startup that makes and sells large inflatable holiday ornaments—believes AI is leveling the playing field for budding low-income entrepreneurs.

At the recent Clover x Shark Tank Summit in Las Vegas, the Shark Tank alum called AI “the greater democratizer.”

Cuban told Axios that free and low-cost AI tools enable disadvantaged teenagers to compete with seasoned professionals.

“Right now, if you’re a 14- to 18-year-old and you’re in not-so-good circumstances, you have access to the best professors and the best consultants,” Cuban said. “It allows people who otherwise would not have access to any resources to have access to the best resources in real time. You can compete with anybody.”

While Cuban believes AI is “the great democratizer” for low-income young people, low-income workers still face hurdles in navigating the AI landscape, according to Public Works Partners, an urban planning and consulting firm. The firm says access to AI among low-income workers may be limited due to cost, insufficient digital literacy and infrastructure gaps.

“Without adequate resources and training, these workers may struggle to adapt to AI-driven workplaces or access the educational opportunities necessary to acquire new skills,” Public Works Partners said.

Texas 2036, a public policy organization focused on the state’s future, reported in January AI jobs in Texas are projected to grow 27 percent over the next decade. The number 2036 refers to the year when Texas will celebrate its bicentennial.

As for the current state of AI, Cuban said he doesn’t think the economy is witnessing an AI bubble comparable to the dot-com bubble, which lasted from 1998 to 2000.

“The difference is, the improvement in technology basically slowed to a trickle,” Cuban said of the dot-com era. “We’re nowhere near the improvement in technology slowing to a trickle in AI.”

CPRIT hires MD Anderson official as chief cancer prevention officer

new hire

The Austin-based Cancer Prevention and Research Institute of Texas, which provides funding for cancer research across the state, has hired Ruth Rechis as its chief prevention officer. She comes to CPRIT from Houston’s University of Texas MD Anderson Cancer Center, where she led the Cancer Prevention and Control Platform.

Before joining MD Anderson, Rechis was a member of the executive leadership team at the Livestrong Foundation, an Austin-based nonprofit that supports people affected by cancer.

“Ruth has widespread connections throughout the cancer prevention community, both in Texas and across the nation,” CPRIT CEO Kristen Doyle said in a news release. “She is a long-term passionate supporter of CPRIT, and she is very familiar with our process, programs, and commitment to transparency. Ruth is a terrific addition to the team here at CPRIT.”

Rechis said that by collaborating with researchers, policymakers, public health leaders and community partners, CPRIT “can continue to drive forward proven prevention strategies that improve health outcomes, lower long-term costs, and create healthier futures for all.”

At MD Anderson, Rechis and her team worked with more than 100 organizations in Texas to bolster cancer prevention initiatives at clinics and community-based organizations.

Rechis is a longtime survivor of Hodgkin lymphoma, a type of cancer that affects the lymph nodes, which are part of a person’s immune system.