Houston Innovation Awards names prestigious panel of judges for 2023 awards

meet the decision makers

Here's who's making the call for this year's Houston Innovation Awards. Photos courtesy

Ten Houstonians are in the hot seat for deciding the best companies and individuals in Houston's innovation ecosystem.

InnovationMap has announced its 2023 Houston Innovation Awards judging panel, which includes startup founders, nonprofit leaders, investors, corporate innovators, and more.

The 10 selected judges will evaluate applications from the nearly 400 nominations that were submitted this year. The judges will be using their expertise to evaluate the nominees' applications, which are due to InnovationMap by midnight on October 4.

Read about this year's judges below, and don't forget to secure your tickets to the November 8 event to see who the panel selects as the winners for the annual celebration of Houston innovation.

Natara Branch, CEO of Houston Exponential

Houston Exponential was founded to amplify and support the city's innovation ecosystem, and Natara Branch has been leading this initiative since appointed as CEO last year. For the second year, HX is partnering with InnovationMap on the Houston Innovation Awards.

Born in Germany and raised all around Texas, Branch — a University of Houston alumna — previously was the first African American woman to hold a vice president position at the NFL. Based in New York, she oversaw operations in various leadership roles at the NFL for over 18 years.

Barbara J. Burger, former Trailblazer Award recipient

Barbara J. Burger, former vice president of innovation at Chevron and president of Chevron Technology Ventures, was the inaugural recipient of the Trailblazer Award at the 2021 Houston Innovation Awards, which was previously called the InnovationMap Awards.

A self-proclaimed “graduate” from Chevron, she is senior adviser to Lazard, a member of the Greentown Labs Board of Directors, adviser to Syzygy Plasmonics, Epicore Biosystems, and Sparkz Inc., and several other energy transition and philanthropic roles. Burger holds a bachelor’s degree in chemistry from the University of Rochester, a doctoral degree in chemistry from the California Institute of Technology, and an academic honor MBA in finance from the University of California, Berkeley.

Devin Dunn, head of the Accelerator for Health Tech at TMC Innovation

As head of the Accelerator for Health Tech at the Texas Medical Center's Innovation Factory, Devin Dunn works hands on with startups — specifically to help them refine their business models and plan to scale — every day.

Prior to joining TMCi, Dunn was an early employee at a London-based digital health startup. She earned her bachelor’s degree in Biological Basis of Behavior and Healthcare Management from the University of Pennsylvania and received her Master’s in Public Health from the University of Texas Health Science Center.

Noah Fons, senior coordinator of regional economic development at the Greater Houston Partnership

Working within regional economic development at the Greater Houston Partnership, Noah Fons has the pulse on companies expanding to Houston. Previously, he worked at Houston Exponential, so he also understands Houston's evolving innovation ecosystem. He studied economics at Rice University.

Aziz Gilani, managing director at Mercury Fund

As managing director at Houston-based venture capital firm Mercury, Aziz Gilani focuses on investments in enterprise SaaS, Cloud, and data science startups. He's worked at the firm for over 15 years.

A Kauffman Fellows Program graduate, he received his bachelor's degree from the University of Texas and his MBA from Northwestern University’s Kellogg School of Management. Gilani also serves in advisory roles for the Mayor of Houston’s Tech and Innovation Council, Seed Accelerator Rankings, and SXSW Interactive and is an adjunct professor of entrepreneurship at Rice’s Jones Graduate School of Business where he teaches a course on venture capital.

Natalie Harms, editor of InnovationMap

For the third year, Natalie Harms will represent InnovationMap on the annual awards judging panel as the founding editor of InnovationMap the host of the Houston Innovators Podcast.

Recently named the editor of EnergyCapitalHTX, a newly launched sister site to InnovationMap focused on Houston's role within the energy transition, she reports on innovation, technology, energy transition — and their impact on the city of Houston. A Houston native, she's worked as a business journalist for almost a decade and has a degree in journalism from the University of Houston and a certificate in publishing from New York University.

Moji Karimi, co-founder and CEO of Cemvita Factory

Moji Karimi and his co-founder and sister, Tara Karimi, were honored at last year's Houston Innovation Awards as the winners of the Green Impact Business award. Cemvita Factory, their fast-growing startup, uses biotech to sustainably create materials to lower its customers carbon footprints.

Prior to launching Cemvita in 2018, Karimi held leadership roles at Weatherford and Biota Technology. He serves as a board member for CleanTX and adviser to Houston-based ComboCurve Inc.

Margarita Kelrikh, associate at Latham & Watkins

As associate in the Emerging Companies group at Latham & Watkins in Houston, Margarita Kelrikh has supported the firm's growing startup clients since her appointment last year. Prior to joining the firm, she held in-house counsel positions at a few companies, including WeWork.

She received her bachelor's degree at the University of Chicago and her law degree at Columbia School of Law.

Brad Rossacci, creative director at Accenture

Brad Rossacci is creative director at Accenture, where he's worked since 2018. He also co-founded and co-hosts the Curiosity Podcast. A Texas A&M University alumnus and self-proclaimed "rebellious optimist," Rossacci is passionate about Houston and innovation.

Maggie Segrich, co-founder of Sesh Coworking

As co-founder and CFO of inclusive coworking company, Sesh Coworking, Maggie Segrich is dedicated to supporting entrepreneurs of all backgrounds. Last year, Sesh Coworking won the Female-Founded Business category for the Houston Innovation Awards.

She serves as board member for Midtown Management District, where Sesh is located, and board chair for nonprofit, Magpies & Peacocks.

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If you feel like it's hard to find venture capitalists in Houston, you wouldn't be wrong, according to this Houston investor. Photo via Getty Images

Houston investor outlines how rare VCs are in Houston — and how to find them

guest column

As a venture capitalist and former startup founder living in Houston, I get asked a lot about the best way to find and connect with a venture capitalist in Houston. My usual advice is to start with a list, and reach out to everyone on that list. But no one has a comprehensive list. In fact, VCs are such a quiet bunch that I’ve yet to meet someone who personally knows everyone on this proverbial list.

So, I got together with a couple of VC friends of mine, and we put together our own Houston venture capitalist list.

There are, by our count, 11 active venture capital funds headquartered in Houston of any size and type, and outside of corporate venture capital and angel investors, there are 30 total venture capitalists running funds.

Houston has always been quite thin on the VC fund front. I’ve jokingly introduced myself for a while as “one of the 13 venture capitalists in Houston.”

Let’s put this scale in some brutal perspective. With 7.2 million people in the Greater Houston Metro Area, the odds of finding a partner level active venture capitalist in Houston is about 1 in 240,000, if you take a most expanded definition of venture capitalist that might come down to 1 in 100,000. We’re the fifth largest metropolitan area in the country with a tremendous economic engine; there is a ton of capital in Houston, but it’s residing in things like institutional fixed income and equities, real estate, wealth management, corporate, private equity, family office, energy and infrastructure Basically, mostly everywhere but in venture capital funds for tech startups.

By comparison, there are almost as many Fortune 500 CEOs in Houston — 24, by our count — as venture capitalists and fewer venture capitalists than Fortune 1000 CEOs, of which there are 43. That means running into a VC in the checkout line at HEB is about as rare as running into the CEO of CenterPoint, ConocoPhillips, or Academy. In fact, as there are 115 cities in the Greater Houston area, you are three times more likely to be a mayor in Greater Houston Area than a partner at an investor at a VC firm, and more likely to be a college or university president. While we’re at it, you’re 400 times more likely to be a lawyer, 250 times more likely to be a CPA, and over 650 times more likely to be a medical doctor.

Our 30 venture capitalists in the Greater Houston Area are spread across 20 firms and all major venture sectors and stages. Venture capitalist is defined for this list as a full time managing director or partner-level investment professional actively running a venture capital fund with limited partners, currently investing in new venture capital deals from their fund from seed to growth stage, and residing in the Greater Houston Metro area.

To get to 31 we added in a couple of people running venture set asides for PE funds, and a number who work from Houston for funds with no office here. We excluded CVCs, as the decision making is more corporate than individual and rarely includes the committed fund and carried interest structure that defines venture capital, and excluded professionals at angel networks, accelerators, and seed funds that provide investment, but don’t manage conventional venture capital funds, as well as PE funds that do the occasional venture deal. We might be able to triple the number if we include venture capitalists at any professional level, and add in those professionals at PE and angel and seed funds, and corporate venture capital teams who are actively investing. But we’ll get to those other sources of funding in the next list.

The 11 venture capital funds headquartered in Houston are: Mercury, Energy Transition Ventures (my fund), Montrose Lane (formerly called Cottonwood), Texas Medical Center Venture Fund, Artemis, New Climate Ventures, Fitz Gate Ventures, Curate Capital, Knightsgate Ventures, Amplo Ventures,and First Bight Ventures.

Another half a dozen firms have a partner level venture capital investor here, but are headquartered elsewhere: Energy Innovation Capital, Decarbonization Partners, 1984 Ventures, Altitude Ventures, Ascension Ventures, Moneta Ventures, and MKB & Co. Two others, CSL Ventures and SCF Partners, are local private equity funds with a venture capital partner in Houston and a dedicated allocation from a PE fund.

Culling these for partner or managing director level currently in Houston, in alphabetical order by first name, LinkedIn profile and all.

We may have missed a couple of VCs hiding in plain sight, as venture capital is a pretty dynamic business.

VCs are just rare. And yes, perhaps more rare in Houston than in California. Something less than 1 in 100 VCs in the country live in Houston. Across the US there are somewhere around 1,000 to 2,000 active venture capital firms, and maybe another 1,000 to 2,000 active US based CVCs — so, plus or minus maybe at most 4,000 to 5,000 currently active partner level venture capitalists in the country excluding CVC professionals (active VCs and VC funds are really hard to count).

Perhaps in the most stunning statistic, the 7,386 elected state legislators in the US today outnumber the total number of American venture capitalists. Luckily for startup founders, the venture capitalists are more likely to return your phone call.

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Neal Dikeman is a venture capitalist and seven-time startup co-founder investing out of Energy Transition Ventures. He’s currently hosting the Venture Capital for First Time Founders Series at the Ion, where ETV is headquartered.

A new report finds that the Lone Star State isn't prime for innovation jobs — and more Houston innovation news. Photo via Getty Images

Houston hospital doles out DEI funds, investors join prestigious programs, and more local innovation news

short stories

Houston's summer has been heating up in terms of innovation news, and there might be some headlines you may have missed.

In this roundup of short stories within Houston startups and tech, Houston investors were tapped for impressive roles, a local hospital system has invested in the city's diversity and inclusion, and more.

Houston Methodist awards more than $4.6 million for 2022 DEI Grant program

Ryane Jackson, vice-president, community benefits at Houston Methodist, oversees the grant program. Photo courtesy of Houston Methodist

Houston Methodist announced grants to 59 Houston-area nonprofit organizations totalling more than $4.6 million thanks to the Houston Methodist Diversity, Equity & Inclusion Grant Program. The program supports "community initiatives focused on addressing the social determinants of health that lead to health inequities within racial, ethnic and social minorities, including women, people experiencing homelessness, older adults, the LGBTQ+ community, immigrants and more," per a news release.

It's the second year for the DEI Grant Program, and the latest donations will support more than 100,000 people in the Houston area through 29 healthy neighborhood programs, 16 economic empowerment programs, and 17 educational empowerment programs.

“It’s incredibly encouraging to see so many local non-profit organizations working to close the health and social disparity gaps that exist among minority groups in the Houston area,” says Ryane Jackson, vice-president, community benefits at Houston Methodist, in the release. “The goal of the Houston Methodist DEI grant program is to enact meaningful change. For us, that change entails working together with local charity agencies in our collective pursuit to build a healthier Houston that reaffirms the value and worth of everyone. Entering our second year of funding, we’re pleased to support even more local organizations this year who are critical in shaping our community.”

The program has two types of grant funding — the Social Equity Grant for health equity programs targeting racial and ethnic minorities, and the DEI Grant, which provides resources for operating growing agencies serving broader minority communities.

Some examples of the grants are:

  • DEI Grant to the The Montrose Center, which empowers the LGBTQ+ community and their families to live healthier, more fulfilling lives. DEI grant funds will benefit LGBTQ+ seniors and African American seniors from Third Ward in need of affordable and affirmative housing and will enable the hiring of a case manager to support the initiative.
  • DEI Grant tp the Santa Maria Hostel, which offers a comprehensive continuum of care for women and their families including residential detoxification, substance use disorder treatment for women, and emergency and transitional housing. DEI Grant funding will support the Recovery Support Services Program that assists formerly incarcerated women with housing and economic stability through salary support for Peer Recovery Coaches. This agency is the only recovery agency that allows women to keep their children with them while going through the program.
  • Social Equity Grant to Boat People SOS - Houston, a nonprofit social and legal services provider whose purpose is to empower, organize, and equip immigrant communities in their pursuit of liberty and dignity. The Houston Methodist Social Equity grant funding will support their senior services program designed to address social support needs and provide resources to Vietnamese seniors.

2 Mercury investors named to prestigious programs

Samantha Lewis and Aziz Gilani of Mercury have each received exciting appointments. Photos via Mercury

Houston-based venture capital firm has two employees to celebrate. Samantha Lewis, principal at Mercury, was announced as a member of the Class 27 of the Kauffman Fellows Program, a group of global innovation investors, just after Aziz Gilani, managing director at the firm, was appointed to the National Advisory Council on Innovation and Entrepreneurship, a Federal advisory committee that advises the United States Secretary of Commerce.

For Lewis, the appointment enrolls her in the two-year program, which is described as "a United Nations of venture investing," in a news release. She joins a network of 765 fellows — including 59 in the current cohort — spanning six continents and representing over 670 VC firms around the globe.

At NACIE, Gilani was one of 32 leaders appointed by U.S. Secretary of Commerce Gina M. Raimondo last month. The group, according to a news release, will be tasked with "developing a National Entrepreneurship Strategy that strengthens America’s ability to compete and win as the world’s leading startup nation and as the world’s leading innovator in critical emerging technologies."

Texas ranks as middle of the pack when it comes to innovative states

Texas ranks in the lower half of the nation when it comes to innovation jobs. Chart via Smartest Dollar

The Lone Star State was named the 30th most innovative state, according to a new report from Smartest Dollar. The report evaluated data from 350 metros and all 50 states and sought to identify the locations with the most innovative workers. Researchers calculated a composite innovation index for each location and ranked states accordingly.

Here is a summary of the data for Texas, according to the report:

  • Composite innovation index: 59.30
  • Share of workers in the most innovative jobs: 2.6 percent
  • Total workers in the most innovative jobs: 322,910
  • Average annual wage for all workers: $54,230
  • Average annual wage for workers in the most innovative jobs: $77,098

Here are the statistics for the entire United States:

  • Composite innovation index: 59.53
  • Share of workers in the most innovative jobs: 3.1 percent
  • Total workers in the most innovative jobs: 4,428,790
  • Average annual wage for all workers: $58,260
  • Average annual wage for workers in the most innovative jobs: $86,562

Applications are open for pitch competition

A new pitch competition is looking for finalists. Photo via Getty Images

Applications are now open for the Black Girl Ventures x Omaze Houston pitch competition. The deadline to submit is July 1.

This fall, seven finalists will pitch their businesses to a panel of judges, and the first place winner will win $10,000. Second and third place winners will receive $6,000 and $2,000, respectively. Capital One will match funds, effectively doubling the prize money for the top three finalists.

Eligibility includes Black and Brown woman-identifying founders with revenue-generating (under $1 million) businesses. Founders can submit their applications online. Finalists will be notified on July 18.

Black Girl Ventures has been active in Houston since 2020. According to the organization, the region has six Change Agents, or fellows, who work to strengthen and expand the local entrepreneurial ecosystem.

Houston startup joins national 5G accelerator cohort

Houston startup joins a cohort of companies changing the future of 5G. Photo via Getty Images

A Houston company has been named to a new 5G-focused accelerator program. The gBETA 5G Technology Spring 2022 cohort includes Houston-based Ohana. Using advertising revenue, the company brings free access to information and connectivity to the world and is planning to roll out a 5G smartphone and data plan free to users across the globe later this year.

gBETA, which has an industry agnostic cohort ongoing in Houston, also has this 5G-focuset version that follows a similar structure. The five companies will go through the free, seven-week accelerator — that kicked off May 5 — and receive intensive and individualized coaching and access to gener8tor’s national network of mentors, customers, corporate partners, and investors.

The program will culminate with the gener8tor Showcase Day in the fall, which will highlight each of the five companies.

“We’re so fortunate to have such a diverse set of founders from across the country, with expertise across the internet technology and communications continuum,” says Doug Applegate, gBETA director for the 5G Technology program. “They highlight the capabilities and possibilities of what 5G Technology can bring to the world, and we’re excited to see how the companies grow.”

The other companies include Chicago-based Socian Technologies, Fishers, Indiana-based Qumulex Boston-based Mentore, and Dallas-based Taubyte.

This week's innovators to know are Sean Guerre of Innovate Energy, Carolyn Rodz of Hello Alice, and Aziz Gilani of Mercury Fund. Courtesy photos

3 Houston innovators to know this week

who's who

From quickly making face masks to preparing meals for hospital workers, Houstonians everywhere are finding the best way for them to give back. For these three innovators to know this week, their way of giving back is helping startups navigate this unprecedented time.

Sean Guerre, managing director of Innovate Energy

Photo courtesy of Innovate Energy

The oil and gas industry is going through an unprecedented time. Never before have energy companies had to deal with such a large discrepancy between supply and demand, and COVID-19 closures is just the cherry on top. A victim of the situation is going to be early-stage energy tech startups. However, Guerre says he is seeing interest in startups that specialize in a specific type of technology.

"We're seeing a huge interest in autonomous, unmanned solutions," Guerre says on this week's episode of the Houston Innovators Podcast. "Anything in that remote, autonomous area that allows people to continue to do inspections, mapping, surveying, and all kinds of work that don't involve more people being involved in the process — we're seeing a real acceleration there."

Click here to read more.

Carolyn Rodz, CEO of Hello Alice

Courtesy of Hello Alice

While a bunch of companies are left idle with not much to do during the COVID-19-caused shutdown, Carolyn Rodz, CEO and co-founder of Houston-based Hello Alice, has been busier than ever. Her company, which provides digital resources for startups and small businesses, has kicked their operations into high gear.

Rodz and her team created a COVID-19 Business Center free for entrepreneurs to use, as well as announced emergency grants to businesses affected by COVID-19.

Click here to read more.

Aziz Gilani, managing director of Mercury Fund

Photo courtesy of Mercury Fund

The repercussions of the pandemic has forced Aziz Gilani to become an expert in the CARES Act in order to help Mercury Fund's portfolio companies, but Gilani has been more than willing to share his newfound expertise. He joined Rodz on a virtual panel hosted by Houston Exponential and the duo offered pertinent advice for Houston startups — especially in light of the lack of clarity in the quickly passed legislature.

"One of the challenges of the program is that it is being administered by the Small Business Administration, which traditionally hasn't worked with venture-backed and angel-backed companies," Gilani says, adding that now is the time to document everything and involve a lawyer to help you mitigate the act's details.

Click here to read more.

Carolyn Rodz of Hello Alice and Aziz Gilani of Mercury Fund discuss their advice for startups looking for federal grants. Courtesy photos

Houston experts give advice for startups seeking financial aid from the CARES Act

from the profesisonals

The United States Congress recently passed the Coronavirus Aid, Relief, and Economic Security Act, or the CARES Act, and it includes several initiatives that provide financial relief for startups and small businesses — but there are a few things these companies should know about the programs.

Houston Exponential hosted a virtual panel with Carolyn Rodz, CEO of Hello Alice, and Aziz Gilani, managing director of Mercury Fund. They broke down some of the concerns with some of the most popular programs.

The Payroll Tax Deferral stipulation allows you to push back paying your payroll tax, which is 6.2 percent of payroll, Gilani says in the livestream. Companies will be required to pay back half that tax in a year's time and the other half in two year's time.

Small businesses can also apply for emergency Economic Injury Disaster Loans, or EIDL loans, that won't require the first payment for a full year. The interest rate is 3.75 percent for for-profit businesses and 2.75 percent for nonprofits with up to a 30-year term. Businesses could even submit to receive a $10,000 grant on their application.

Then, there's the Paycheck Protection Program, or PPP.

"The PPP program is probably the most lucrative of the three programs for startups," says Gilani, "It's the one that has the largest financial impact."

To submit for PPP, business owners look at their last year's worth of payroll and utility expenses, then average out their monthly expenses, and multiply that by 2.5. Small businesses can submit for that amount or up to $10 million. If the loan is spent on their employees and utilities, it's turned into a grant and not required to be paid back. Gilani recommends checking with the SBA for the specific details, but notes that contract workers can't benefit from PPP and must submit individually for aid.

Regarding these programs, Rodz and Gilani shared some other advice as it pertains to Houston's small businesses and tech startups.

Apply ASAP

Banks are already overwhelmed with applications, and some have paused accepting new applications from some entities. Plus, you have no excuse, Rodz says, since the application is simple and can be completed in one sitting.

"Compared to what a normal government loan application looks like, it is light years better in terms of simplicity," says Rodz.

Go to your own bank

Banks are giving priority to existing customers, Rodz explains.

"Go talk to your banker, and really take the time," Rodz says. "They are prioritizing the clients they have relationships with."

There's a technical reason too, Gilani adds. It's easier for banks to submit for a pre-existing customer, and new customers require more paperwork.

Document everything

Currently, Gilani says, the way the program is working right now is it relies on good-faith self-certification of the business owner. The banks, based on approval, will just put the federal money into your bank account. However, there are people put in roles for this act that will come back to verify that everything was honest.

"Lying to the federal government about money they grant you is a felony that comes with jail time," Gilani says. "It's very important that — after all this craziness passes by and the government comes back to audit what happened — you have a lot of documentation in place in order to show that you were fulfilling your good-faith requirement of answering these questions honestly."

Gilani recommends keeping track of how you calculated your payroll, as well as being able to show the effect of the crisis is key. Then, after you receive the funds, you need to be able to show that you used the funds on your employees.

Consult a lawyer if you have questions on eligibility

There's been a lot of discussion on whether or not venture-backed startups qualify for PPP.

"One of the challenges of the program is that it is being administered by the Small Business Administration, which traditionally hasn't worked with venture-backed and angel-backed companies," Gilani says.

Usually, the SBA requires startups to indicate their employee count, which is not to exceed 500. However, if the company is venture-backed, the SBA requires the inclusion of all the employees of all the portfolio companies. Certain legislators have expressed that this wasn't the intention of the program and are working to provide solutions, Gilani explains, and he and Mercury Fund have been working with a legal team to find immediate work arounds.

"There have been lots of lawyers who have been working really hard on trying to solve this problem," Aziz "If anything, we've now created the lawyer stimulus act in the amount of billable hours we've had trying to figure out this problem."

Gilani also recommends getting your lawyer to sign a document confirming that, especially if you are a venture-backed company, that you intended to adhere to the rules of the program.

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Houston space tech company snags $9.5M contract, sets launch date for lunar mission

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Business at Houston-based space exploration company Intuitive Machines is taking off on two fronts.

First, Intuitive Machines has landed a nearly $9.5 million Air Force contract to develop technology for NASA’s Gateway project, the first space station that will orbit the moon. Specifically, the technology will support a high-powered nuclear fission system that will supply electricity for satellites, bypassing the need for power from solar, battery, or fuel-cell sources.

“As space exploration ventures become more ambitious and diverse, the need for efficient and reliable power sources in space is paramount,” Pete McGrath, vice president of business development at Intuitive Machines, says in a news release. “Developing the ability to expand power sources beyond solar, which requires heavy battery storage, could remove the burden of constantly worrying about a spacecraft’s arrays relative to the sun, and potentially deliver long-term stability for satellites that would otherwise lose power over time.”

Second, Intuitive Machines has set January window for the launch of its IM-1 lunar mission in conjunction with private aerospace company SpaceX. The liftoff is targeted for a multiday window that opens January 12, 2024.

“There are inherent challenges of lunar missions; schedule changes and mission adjustments are a natural consequence of pioneering lunar exploration,” Steve Altemus, co-founder, president, and CEO of Intuitive Machines, says in a news release. “Receiving a launch window and the required approvals to fly is a remarkable achievement, and the schedule adjustment is a small price to pay for making history.”

The IM-1 mission will be the company’s first attempted lunar landing as part of NASA’s commercial payload initiative.

Intuitive Machines went public earlier this year via SPAC. Co-founder Tim Crain shared a bit of the origin story of the company on a recent episode of the Houston Innovators Podcast.


Houston sustainable chemicals unicorn to build Midwestern biomanufacturing facility

making moves

Solugen has scored a partnership with a global company to build a biomanufacturing facility adjacent to an existing corn complex in Marshall, Minnesota.

Solugen, a Houston company that's designed a process that converts plant-derived substances into essential materials, has announced its newest strategic partnership with sustainable solutions company ADM (NYSE:ADM). The partnership includes plans for Solugen to build a 500,000-square-foot biomanufacturing facility next to an existing ADM facility in the Midwest. The two companies will collaborate on producing biomaterials to replace fossil fuel-based products.

“The strategic partnership with ADM will allow Solugen to bring our chemienzymatic process to a commercial scale and meet existing customer demand for our high-performance, cost-competitive, sustainable products,” Gaurab Chakrabarti, co-founder and CEO of Solugen, says in a news release. “As one of the few scaled-up and de-risked biomanufacturing assets in the country, Solugen’s Bioforge platform is helping bolster domestic capabilities and supply chains that are critical in ensuring the U.S. reaches its ambitious climate targets.”

The company plans to begin on-site construction early next year, with plans to startup in the first half of 2025. The project should create at least 40 permanent jobs and 100 temporary construction positions.

“Sustainability is one of the enduring global trends powering ADM’s growth and underpinning the strategic evolution of our Carbohydrate Solutions business,” Chris Cuddy, president of ADM’s Carbohydrate Solutions business, says in the release. “ADM is one of the largest dextrose producers in the world, and this strategic partnership will allow us to further diversify our product stream as we continue to support plant-based solutions spanning sustainable packaging, pharma, plant health, construction, fermentation, and home and personal care.”

Founded in 2016 by Chakrabarti and Sean Hunt, Solugen's carbon-negative molecule factory, named the Bioforge, uses its chemienzymatic process in converting plant-sourced substances into essential materials that can be used instead of fossil fuels. The manufacturing process is carbon neutral, and Solugen has raised over $600 million from investors that believe in the technology's potential.

“The initial phase of the project will significantly increase Solugen’s manufacturing capacity, which is critical for commercializing our existing line of molecules and kicks off plans for a multi-phase large-scale U.S. Bioforge buildout,” Hunt, CTO of Solugen, says in the release. “The increase in capacity will also free up our Houston operation for research and development efforts into additional molecules and market applications.”

The project should create at least 40 permanent jobs and 100 temporary construction positions.

"As a community with a strong foundation of agriculture and innovation, we look forward to welcoming Solugen to Marshall. This industry-leading facility will serve as a powerful economic driver for the city, creating new jobs and diversifying our industry,” City of Marshall Mayor Bob Byrnes says in the statement. "We are thankful for ADM’s longstanding commitment and impact to Marshall, which has paved the way for this remarkable partnership and continues to further economic growth to our region."

It's the second major company partnership announcement Solugen has made this month, with a new arrangement with Sasol being secured last week.

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This article originally ran on EnergyCapital.

TMC delivers new building, can't miss events, and more trending Houston innovation news

top stories

Editor's note:Another week has come and gone, and it's time to round up the top headlines from the past few days. Trending Houston tech and startup articles on InnovationMap included profiles on Houston Innovation Awards finalists, TMC Helix Park's first building opening, and more.

Texas Medical Center opens first building in massive Helix Park project

Mayor Sylvester Turner, TMC CEO Bill McKeon, Governor Greg Abbott, and others gave their remarks at the TMC3 Collaborative Building opening. Photo by Natalie Harms

For nearly a decade, the Texas Medical Center and its partners have been working on the plans for Helix Park, a 37-acre campus expansion of TMC. As of this week, the first building has opened its doors to the public.

The TMC3 Collaborative Building officially opened today to a crowd of media, public officials, and health care executives. The institutional agnostic, 250,000-square-foot building will anchor Helix Park and house research initiatives from the four founding partners: Texas Medical Center, The University of Texas MD Anderson Cancer Center, Texas A&M University Health Science Center, and The University of Texas Health Science Center at Houston.

“Today, we lay the cornerstone of a new campus fully dedicated to streamlining the commercialization of life-changing innovations in medicine and technologies,” William McKeon, president and CEO of TMC, says at the event. “We are incredibly excited to both welcome our founding institutions and industry partners to the Collaborative Building and to invite the community to experience the Helix Park campus and its beautiful parks with a series of special events in the months ahead." Read more.

Meet the 4 corporations best supporting Houston's innovation ecosystem

The Corporate of the Year category for the Houston Innovation Awards has four finalists — each playing a role in Houston's innovation ecosystem across energy, tech, and health care innovation. Photos courtesy

What corporations are most supporting Houston's startup ecosystem? The Houston Innovation Awards sought to find that out with a new category for the 2023 event.

The Corporate of the Year category has four finalists — each playing a role in Houston's innovation ecosystem across energy, tech, and health care innovation. Learn about each of these finalists in the interviews below. Read more.

Secure your Houston Innovation Awards tickets.

Read more of the editorial series:

10+ can't-miss Houston business and innovation events for November

Check out this curated list of innovation events in Houston for November. Photo via Getty Images

From networking meetups to the 2023 Houston Innovation Award ceremony, November is chock-full of happenings for Houston innovators.

Here's a roundup of events you won't want want to miss out on, so mark your calendars and register accordingly.Read more.

Rice University taps 11 Houston business leaders for new entrepreneurship council

Eleven business leaders were selected for a new entrepreneurship-focused council for Rice University. Photo courtesy of Rice University

Rice University has named 11 successful business leaders with ties Houston to its inaugural council focused on entrepreneurship.

Frank Liu, a Rice alumnus and founder of the Rice University Liu Idea Lab for Innovation and Entrepreneurship, or Lilie, recruited the entrepreneurs to the council, and each has agreed to donate time and money to the university’s entrepreneurship programs, according to the university.

Members of the council, known as the Lilie’s Leadership Council or LLC, individuals have experience in a variety of fields, from the industrial and automotive sectors to local government and public radio. Read more.

Houston software co. secures $39M in financing, launches latest product upgrade

Graylog, a Houston SaaS company, has new fuel to scale and develop its product. Photo via Getty Images

A Houston software-as-a-service company has secured $39 million in financing and announced its latest upgrade to its platform.

Graylog, which has created an innovative platform for cybersecurity and IT operations, raised equity funding with participation from new investor Silver Lake Waterman and existing investors Piper Sandler Merchant Banking and Harbert Growth Partners leading the round.

“The growth we are seeing globally is a response to our team’s focus on innovation, a superior user experience, low total cost of ownership, and strong execution from our Go-To-Market and Customer Success teams,” Andy Grolnick, CEO of Graylog, says in a news release. “We expect this momentum to continue as Graylog expands its reach and raises its profile in the security market.” Read more.


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