Houston innovator joins ESG roundtable, Rice names cohort of student startups, and more innovation news

short stories

In the latest round up of Houston innovation news you may have missed, student startups selected for a summer program, Texas might be among the best states for nurses, and more. Photo by Scott Halleran/Getty Images

It's been a busy season for the Houston innovation ecosystem, and for this reason, local startup and tech news may have fallen through some of the cracks.

In this roundup of short stories within Houston innovation, a software startup is focusing on diversity and inclusion, an angel network has a new partner organization, a Houston innovator is playing a major role in ESG, and more.

GoCo hosts its first-ever DEI Hackathon

GoCo is hosting its first hackathon. Photo via Getty Images

GoCo.io, a Houston-based human resources software-as-a-service company, is hosting its first hackathon for diversity, equity, and inclusion begining today, May 6, and continuing through tomorrow, May 7.

GoCo's entire staff is going to work for over 36 hours to build solutions aimed at promoting diversity, equity, and inclusion for small businesses.

"Building technology to help HR make a difference in the workplace is what we're all about at GoCo," says Allie Collins, head of GoCo's DEI Task Force, in a news release. "HR professionals are being called upon to make profound and meaningful changes to combat racism and inequities. We're hosting this event because our whole team is passionate about creating apps and resources to facilitate that change."

The competitors will be on teams and will present their projects on Monday, May 10, for a panel of judges.

Rice Alliance backs diversity-focused angel investment network

Maria Maso, CEO of baMa, has announced Rice Alliance as a partner organization. Photo courtesy of Nijalon Dunn

The Rice Alliance for Technology and Entrepreneurship has become a baMa champion of diversity for angel network baMa, or the Business Angel Minority Association.

"Rice Alliance aims to foster an innovative and entrepreneurial culture that not only values differences, but also elevates them as sources of strength and innovation," says Rice Alliance's managing director, Brad Burke, in a news release.

According to the release, baMa will help to introduce Rice to more diverse businesses. The angel network has already tapped into Rice's ecosystem with the $50,000 investment prize baMa awarded during the Rice Business Plan Competition in March.

"Diversity and education go hand by hand so counting with the support of Rice Alliance is a huge step in order to accomplish baMa's goal: close the investment gap in minority-led startups," says baMa CEO, Maria Maso.

Topl named to ESG council

Kim Raath will serve on CNBC's ESG Council. Photo courtesy of Topl

Kim Raath, CEO of Houston-based blockchain company, Topl, has announced that she has been invited to join the CNBC's ESG Council. She was selected among execs from large corporations like companies such as The HEINEKEN Company, Nestlé, IHG Hotels & Resorts, Nissan Motor Corporation, Bain & Company, Credit Suisse, and more.

"As a young startup, this is one of our most exciting milestones. Sitting at the table with industry leaders is great momentum for both Topl's success and our larger ESG mission," Raath writes in Topl's newsletter. "Traceable transparency in supply chains is a game changer for global commerce, and now Topl can learn from and collaborate with multinational corporations. This opportunity will help position our purpose-built blockchain as a solution to solve some of the biggest and most critical problems our world faces, and as we strive to build a more sustainable future for all."

The council is a roundtable of 30 business leaders across industries focused on the challenges posed by sustainability — and the strategies needed to overcome them, according to Raath.

Is Texas a good state for nurses?

A new report ranks states based on their opportunities and friendly environment for nurses. Photo via Getty Images

The Lone Star State's nursing industry was put to the test for a new report from WalletHub, a personal financial website. The study compared all 50 states based on opportunity and competition and work environment. Texas ranked No. 12 overall.

Ranked solely on opportunity and competition — which included evaluating salary, schools, nurses per 1,000 residents, and more — Texas came in at No. 11.

The top states on the list were Arizona, Washington, and Nevada, respectively.

Rice University announces OwlSpark's ninth cohort

Meet the 10 student startups that are joining the OwlSpark family this summer. Photo courtesy of OwlSpark

Rice University's student startup accelerator has named 10 startup teams to its ninth cohort, which kicks off later this month. OwlSpark's 2021 cohort includes teams from across industries — hospitality, sports, oil and gas, consumer, staffing, automotive and more. According to a release from Rice, these are the companies selected:

  • Capybara - a networked platform that facilitates the company-to-company transfer of IT employees with similar skill sets (for example, software developers)
  • ChckMate – a data-driven platform designed to improve customer dining experiences, drive loyalty and increase revenue
  • GatherX Analytics – an AI software platform that predicts location and quantity of hydrocarbon liquid dropout for use by the upstream oil and gas industry
  • HARK – an easy-to-use app designed to significantly enhance the way in which neurodivergent or cognitively impaired individuals communicate real-time with caregivers and loved ones
  • Home Maintainer - a comprehensive solution for homeowners to manage and simplify home maintenance and efficiency
  • OneLab - a robust cloud-based repository designed for effective organization and easy access to a body of data on a specific area of research
  • Oversox– waterproof, durable, sock-like coverings designed to easily slip over the outside of a shoe for use by the serious hiker
  • rutd – an enterprise software and mobile application that provides immediate, actionable, suicide prevention resources to military veterans and family members
  • Tailer – a training platform and sales tool for electric vehicle dealerships and sales personnel
  • Yellow Saffron Labs – a risk analysis platform that gathers datasets from peer-reviewed scientific publications for use by organizations to observe industry trends or upcoming scientific disruptions or discoveries

Auburn University's SwiftSku took first place in this year's virtually held Rice Business Plan Competition, but it was the second place company that went home with over half a million in cash and investment prizes. Photo via rice.edu

Over $1.4M in prizes awarded at Rice University's student startup competition

RBPC 2021

In its 21st year, the Rice Business Plan Competition hosted 54 student-founded startups from all over the world — its largest batch of companies to date — and doled out over $1.4 million in cash and investment prizes at the week-long virtual competition.

RBPC, which is put on by the Rice Alliance for Technology and Entrepreneurship, took place Tuesday, April 6, to Friday, April 9 this year. Just like 2020, RBPC was virtually held. The competition announced the 54 participating startups last month, and coordinated the annual elevator pitches, a semi-finals round, wildcard round and live final pitches. The contestants also received virtual networking and mentoring.

Earlier this week, Rice Alliance announced the seven student-led startups that then competed in the finals. From this pack, the judges awarded the top prizes. Here's how the finalists placed and what won:

  • SwiftSku from Auburn University, point of sales technology for convenience stores that allows for real time analytics, won first place and claimed the $350,000 grand prize from Goose Capital. The company also won the $50,000 Business Angel Minority Association Prize, the $500 Best Digital Elevator Pitch Prize from Mercury Fund, and the $500 Third Place Anbarci Family People's Choice prize, bringing the company's grand total in cash and investment prizes to $401,000. The company also won the CFO Consulting Prize, a $25,000 in-kind award.
  • AgZen from the Massachusetts Institute of Technology, a pesticide alternative spray and formulation technology company, won the second place $100,000 investment prize (awarded by Finger Interests, Anderson Family Fund, Greg Novak, and Tracy Druce). The startup also won a $300,000 Owl Investment Prize, the $100,000 Houston Angel Network Prize, the $500 Best Energy Elevator Pitch Prize from Mercury Fund, and the $1,500 Third Place Anbarci Family People's Choice prize, bringing the company's grand total in cash and investment prizes to $502,000. The company also won the $30,000 in-kind Polsinelli Energy Prize.
  • FibreCoat GmbH from RWTH Aachen University, a startup with patented spinning technology for the production of inexpensive high-performance composite fibers, won the third place $50,000 investment prize (also awarded by Finger Interests, Anderson Family Fund, Greg Novak, and Tracy Druce). The company also won the $100,000 TiE Houston Angels Prize and the $500 Best Hard Tech Elevator Pitch Prize from Mercury Fund, bringing the company's grand total in cash and investment prizes to $150,500.
  • Candelytics from Harvard University, a startup building the digital infrastructure for 3-D data, won the fourth place $5,000 prize.
  • OYA FEMTECH Apparel from UCLA, an athletic wear company that designs feminine health-focused clothing, won the fifth place $5,000 prize. The company also won the $5,000 Eagle Investors Prize, the $25,000 Urban Capital Network Prize, and the $1,000 Second Place Anbarci Family People's Choice prize, bringing the company's grand total in cash and investment prizes to $36,000.
  • LFAnt Medical from McGill University , an innovative and tech-backed STI testing company, won the sixth place $5,000 prize and the $20,000 Johnson and Johnson Innovation Prize, bringing the company's grand total in cash and investment prizes to $25,000.
  • SimpL from the University of Pittsburgh, an AI-backed fitness software company, won the seventh place $5,000 prize. The company also won the $25,000 Spirit of Entrepreneurship Prize from the Pearland Economic Development Corp., bringing the company's grand total in cash and investment prizes to $30,000.

Some of the competition's participating startups outside of the seven finalists won monetary and in-kind prizes. Here's a list of those.

  • Mercury Fund's Elevator Pitch Prizes also included:
    • Best Life Science $500 Prize to Blue Comet Medical Solutions from Northwestern University
    • Best Consumer $500 Prize to EasyFlo from the University of New Mexico
    • Best Overall $1,000 prize to Anthro Energy from Stanford University
  • The Palo Alto Software Outstanding LivePlan Pitch $3,000 Prize went to LiRA Inc. from the University of North Carolina at Chapel Hill
  • The OFW Law FDA Regulatory Strategy Prize, a $20,000 in-kind award went to Paldara Inc. from Oklahoma State University.
  • The Silver Fox Mentoring Prize, which included $20,000 in kind prizes to three winners selected Ai-Ris from Texas A&M University, BruxAway from the University of Texas, and Karkinex from Rice University as recipients.
  • The first, second, and third place winners also each received the legal service prize from Baker Botts for a total of $20,000 in-kind award.
  • The Courageous Women Entrepreneurship Prize from nCourage — a $50,000 investment prize — went to Shelly Xu Design from Harvard University.
  • The SWPDC Pediatric Device Prize — usually a $50,000 investment divided its prize to two winners to receive $25,000 each
    • Blue Comet Medical Solutions from Northwestern University
    • Neurava from Purdue University
  • TMC Innovation Healthcare Prize awarded a $100,000 investment prize and admission into its accelerator to ArchGuard from Duke University
  • The Artemis Fund awarded its $100,000 investment prize to Kit Switch from Stanford University
The awards program concluded with a plan to host the 22nd annual awards in 2022 in person.

If you missed the virtual programming, each event was hosted live on YouTube and the videos are now available on the Rice Alliance's page.

Texas cities dominate list of best places to work in tech, a startup contest is accepting applications, Amazon invests in Houston community, and more local innovation news. Getty Images

Houston named a best place to work in tech, Capital Factory opens $100,000 contest, and more innovation news

Short stories

Just like Houston's temperatures, the Bayou City's innovation news is heating up for the summer. From a new startup competition and a big donation from Amazon to Texas cities dominating a list of best places to work in technology, here's a roundup of innovation news happening in town.

Study finds greater Houston area ranks as best place to work in tech

Four Texas metros appear on the ranking. Chart via SmartAsset

A new study from SmartAsset identified the best places to work in technology, and Houston ranked at No. 15. The researchers looked into the country's top 50 populated areas across five metrics: percentage of workers employed in tech, average salary for tech workers, ratio of average tech salary to average salary across all fields, percentage of currently listed bachelor's jobs that are in tech and cost of living.

Texas was well represented on the list, and three Lone Star State metroplexes landed on the list ahead of Houston. Dallas-Fort Worth-Arlington tied for the No. 3 position with Raleigh, North Carolina. Meanwhile, central Texas' Austin-Round Rock and San Antonio-New Braunfels tied for No. 7.

The study found that most of these top cities reside in the south, and the northeastern part of the country ranked poorly on these metrics.

Capital Factory launches $100,000 startup competition

Calling all cognitive tech startups. Photo via austinstartups.com

Austin-based Capital Factory, which has a presence across the state, has opened applications for a $100,000 contest for tech startups. The Human Performance Investment Challenge is looking for hardware and/or software solutions that enhance physical or cognitive capabilities, according to an article the organization posted.

The challenge will conclude at Fed Supernova, a virtual event on July 15. The event is in collaboration with the Army Futures Command's Innovation Combine and xTechSearch programs. Applications are open now and close June 28.

Amazon teams up with Houston Food Bank to feed at-risk seniors

The Houston Food Bank is working with Amazon to feed senior citizens. Photo courtesy of Houston Food Bank

Last month, Amazon made a strategic donation focused on providing food to senior citizens disproportionately impacted by COVID-19. The tech giant's Amazon Flex sent drivers around town to make contactless deliveries to residents' doors, and, in just two days after launching, Amazon has delivered over 3,000 pounds of food — representing more than 2,000 meals.

"For so many of our senior citizens, the pandemic is especially troubling as they have health concerns, limited mobility and need assistance for such regular tasks as grocery shopping," says Brian Greene, president and CEO of Houston Food Bank, in a news release. "Because this population needs help, we wanted to add direct food deliveries for them, and we are so thankful to Amazon for stepping up to make this happen for our beloved senior citizens."

Amazon's efforts within the Bayou City are just one part of its commitment to deliver millions of meals across the country. In addition to the donated delivery service, Amazon has gifted a $50,000 COVID-19 response grant to the local organization to go to operational needs and food supplies.

"Communities around the world are facing the COVID-19 pandemic together, and in Houston we're proud to be doing our part to support our local community," says Bri Tye, general manager at Amazon's Fulfillment Centre in Katy, in the release. "The donation of $50,000 to the Houston Food Bank, and Amazon's Flex deliveries will go directly to helping feed seniors and families who need it most."

Houston fintech startup launches new product

HighRadius has premiered a new software product. Photo via highradius.com

Houston-based fintech startup, HighRadius, which provides software solutions and automation technology, announced its new RadiusOne A/R Suite for mid-sized businesses.

"We launched the RadiusOne B2B Network to facilitate suppliers and A/R teams to digitally connect with their buyers and A/P teams for faster processing of receivables and payments. Currently, the network has millions of active businesses," says Sashi Narahari, founder and CEO of HighRadius, in a news release. "The RadiusOne A/R Suite will provide the essential apps for A/R teams at mid-sized businesses to instantly plug their ERPs and A/R processes into this network and digitally connect with their buyers across the globe."

The new product is especially key in today's work-from-home environment in order to prevent slowdowns in accounts receivable departments.

"COVID-19 is putting a lot of working capital strain on businesses globally," Narahari says. "We are hoping to help by automating clerical A/R processes for mid-sized businesses and by reducing the friction for supplier A/R teams to digitally collaborate with their buyers and A/P teams."

The Cannon partners with minority-focused angel investment group

The Business Angel Minority Association launched at a breakfast event in March. Photo by Nijalon Dunn

The Cannon — an entrepreneurial hub — has joined forces with The Business Angel Minority Association, or baMa, to prioritize diversity within angel investing in Houston.

"Diversity plays an important role in early-stage investment decisions. The existing Business Angel associations are not diverse enough and this translates to a lack of pre-seed and seed angel investment in Minority-led startups", says Maria Maso, founder and CEO of baMa, in a news release.

The organization launched earlier this year to connect angel investors to minority-led startups. This partnership is in line with The Cannon's commitment to diversity, says the Cannon's CEO, Jon Lambert.

"baMa's mission to fill the glaring need for an early-stage investment focus on minority-led startups and/or startups targeting minority-driven markets is fundamental to The Cannon's vision to deliver every entrepreneur access to the startup resources needed to thrive," Lamber says in the release.

"For us, community is diversity – our partnership with baMa will extend and enhance the support system we are passionately growing and will provide baMa with access to our expanding community of startups and partners. We're excited to see where this partnership takes us – there is so much alignment in our desire to help the entire entrepreneurial community, we are expecting to accomplish big things together."

UH program addresses need for technology teachers

UH's teachHOUSTON program is preparing the next generation of technology educators. Photo courtesy of Chris Watts/uh.edu

With the number of jobs within technology expected to grow, the University of Houston has geared up to train the future's tech educators. UH's teachHOUSTON program, which trains STEM teachers who work in economically disadvantaged high schools within Houston, recently received $1.2 million from the National Science Foundation to continue its mission.

The funding will go toward a new program called UH-ACCESS — short for Advancing Cultural and Computational Engagement in STEM Scholars. The program, which begins this fall, will train 30 UH students from varying disciplines to teach computer science, physics and technology at the high school level.

"Our goal is to prepare a diverse group of teachers who will inspire students to become the country's next technologically advanced, highly-skilled workforce," says Paige Evans, associate director of teachHOUSTON and principal investigator on the project, in a news release.

The selected UH-ACCESS scholars will receive a $12,000 scholarship per year for two years, and they will work in the field across Houston, Alvin, Pasadena, Spring Branch, and Cy-Fair Independent School Districts.

"We are trying to find potential teachers who already exhibit a sociocultural awareness," continues Evans. "Research has shown that students do better in science, technology, engineering and math if the content is connected to their community and culture."

HCC launches tech tool for job hunters

HCC is helping job hunters across the city. VioletaStoimenova/Getty Images

Houston Community College has launched a new tool for job hunters that identifies occupations and the accelerated certificate programs within the higher educational system. JobsNowHouston.org will help Houston's unemployed gain key skills and certifications to make them a more marketable employee.

"COVID-19 has challenged us all, forcing us to rethink every facet of education and community responsiveness," says Dr. Cesar Maldonado, chancellor of Houston Community College, in a news release. "JobsNowHouston.org will connect people with the resources they need to gain the skills and knowledge necessary to compete in our new workforce and is a great example of how everyone at Houston Community College is working even harder to provide training and education to fill in- demand jobs."

According to the release, COVID-19 pushed over 1.5 million Texas residents into unemployment but — at the same time — nearly 481,000 job openings have been posted recently. HCC hopes its JobsNowHouston.org initiative can connect the dots to more easily facilitate retainings and upskilling for these unemployed.

The Business Angel Minority Association launched at a breakfast event during Houston Tech Rodeo. Photo by Nijalon Dunn

Houston investors create angel network focused on minorities

money on minorities

Maria Maso was frustrated with her investment opportunities in Houston. So, she's doing something about it.

Maso has launched the Business Angel Minority Association, or baMa, to gather established or brand new angel investors to move the needle on investments into minority-founded startups. The organization, which launched at a breakfast event at Amegy Bank's Cannon Tower during the Houston Tech Rodeo week, is now seeking investor members.

A native of Barcelona, Maso moved to Houston around seven years ago and started investing in startups a few years later. She tapped into a local organization, but didn't have a positive experience.

"I joined an organization in town, and I started to see deals. But I never made an investment in those deals. I faced two issues: They weren't inclusive enough and no one was telling me how to invest," Maso says.

She joined other angel groups around the world, wrote a lot of checks, and still was frustrated with what was available in Houston. She reached a breaking point in October and her friend and colleague, Juliana Garaizar, told her, "If you don't like it, change it."

So, baMa was born and has launched with lofty goals. Maso, founder and CEO, and Garaizar, president, want to round up 100 investors by the end of 2020. And they want these investors to write checks.

"We are not a networking organization. We are an investment organization. We are expecting at some point that you are writing a check to a startup," Maso tells the crowd. "If we are doing our job properly and we are showing you the right startups, you should be able to make a check at some point."

The organization's members will see deal flow and regular pitches and programming. At the launch event, three Houston companies — Kanthaka, on-demand personal training app, Security Gate, cybersecurity startup, and Pantheon, wellness program app — pitched to the room.

"This is a great opportunity — this is not impact investing or doing the right thing," Garaizar says. "This is actually going to generate money. Investing in diversity gives a 35 percent more ROI to investors."

BaMa already has plans to grow, Maso says. The organization will have a national presence with multiple chapters across the country.

"We are already discussing with Boston, Miami, and Palo Alto," says Maso. "We don't have an agreement yet, but my plan is by the end of the year open the second chapter."

But starting in Houston was intentional. There's so much untapped potential in Houston — money wise and in terms of startups.

"We are in Houston, the most diverse city in the U.S., and still our investment community doesn't look like our entrepreneurship community," Garaizar says. "The only way we are going to bridge this gap is if our investment community starts looking more like the entrepreneurship community."

For Carolyn Rodz, founder of Houston-based Alice and baMa partner, she's tired of hearing about the lack of minority investors and diversity of investments. This organization is about making a move.

"We've had enough talk with all these issues — how do we actually take the actions to move this forward," Rodz says. "I'm tired of hearing the same story year after year, and every time I hear the statistics, I roll my eyes. We know the story. We've heard it. Let's actually do something to change it."

Houston is hosting a bit of a tech takeover week during the first week of March. Photo by Zview/Getty Images

These are the events to attend each day during the Houston Tech Rodeo

Where to be

Houston Exponential has tapped into the Houston innovation ecosystem to coordinate a week of events to speak to the city's startups, investors, and startup development organizations.

The week, called the Houston Tech Rodeo, will take place March 2 to 6 — in coordination with the start of the Houston Livestock Show And Rodeo — all across town. From panels and meetups to office hours and pitch events, there's a lot to navigate in the inaugural week. For a complete list of Tech Rodeo events (most of which are free and all over town), head to the website.

Here are the events you should make sure not to miss. Each featured event is free and open to the public.

Monday: Houston Tech Rodeo Kickoff Event

Launching the week is a happy hour event with a networking opportunity and a panel brought to you by InnovationMap, KPMG, and Houston Exponential. The event is on Monday, March 2, from 4 to 6:30 pm at Karbach Brewing Co. (2032 Karbach St.). After a short introduction from KPMG and HX, Blair Garrou, managing director at Mercury Fund; Leslie Goldman, general partner at The Artemis Fund; and Samantha Lewis, director of GOOSE, will discuss the VC culture in Houston vs. the world. Click here to register.

Tuesday: The Founders Round Up at The Cannon

Why attend one event when you can attend a day full of constructive events geared at entrepreneurs? From 9 am to 5 pm on Tuesday, March 3, at The Cannon, catch workshops and panels ranging from startup failure reasons to revenue tips. From 3 to 5 pm, there's a lean startup meet-up workshop to attend. Click here to register.

Additional events:

  • HX will also be hosting its "Conventional Financing for your Tech Business" workshop at 9 am at their office (410 Pierce St.) to help startups navigate their financial options. Click here to register.
  • DivInc. will be hosting an evening event to address "Diversity's Impact on Innovation" at The Ion (1301 Fannin St. Suite 2100). This event runs from 5:30 to 9 pm. Click here to register.

Wednesday: Jason Calacanis Founder Office Hours

Seven Houston entrepreneurs will join investor Jason Calacanis onstage for office hours — but with an audience. The event, which is on Wednesday, March 4, from 9:30 to 11 am with networking to follow, is at Rice University - McNair Hall McNair Hall, Loop Road Shell Auditorium. Click here to register.

Additional event: The University of Houston's Office of Research is hosting a "Women in Science and Beyond" panel of successful female scientists. The event will take place at 5 pm at UH Technology Bridge Innovation Center, Building 4 (5000 Gulf Freeway). Click here to register.

Thursday: Reverse Pitch, Accelerators and Funds with the Ask

The tables have turned. Rather than Houston entrepreneurs pitching, accelerators and startup development organizations are taking the stage to pitch their programs to potential startup members. The event, which is at 9 am at Sesh Coworking (1210 West Clay St. #Suite 18) on Thursday, March 5, will be hosted by Brittany Barreto of Capital Factory. Click here to register.

Additional events:

  • Learn from the leading ladies of Houston innovation in The Ion's EmpowerHER event at 11 am at 1301 Fannin St. Suite 2100. Click here to register.
  • Wrap up your day with a networking opportunity from MassChallenge Texas at the C. Baldwin, Curio Collection by Hilton (400 Dallas Street). Click here to register.

Friday: BAMA Houston Launch Event

Celebrate the launch of the Business Angel Minority Association — a new organization looking to increase investments for minority-run startups. The networking and pitch event is on Friday, March 6, from 8 to 10 am at The Cannon Tower - Amegy Conference Center (1810 Main St, Suite 1300). Click here to register.

Additional event: Wrap up your week with networking hosted by HX. The event is from 5 to 7 pm at Saint Arnold Brewing Company (2000 Lyons Ave.) Click here to register.

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

Property Showcase

2 Houston startups selected by US military for geothermal projects

hot new recruits

Two clean energy companies in Houston have been recruited for geothermal projects at U.S. military installations.

Fervo Energy is exploring the potential for a geothermal energy system at Naval Air Station Fallon in Nevada.

Meanwhile, Sage Geosystems is working on an exploratory geothermal project for the Army’s Fort Bliss post in Texas. The Bliss project is the third U.S. Department of Defense geothermal initiative in the Lone Star State.

“Energy resilience for the U.S. military is essential in an increasingly digital and electric world, and we are pleased to help the U.S. Army and [the Defense Innovation Unit] to support energy resilience at Fort Bliss,” Cindy Taff, CEO of Sage, says in a news release.

A spokeswoman for Fervo declined to comment.

Andy Sabin, director of the Navy’s Geothermal Program Office, says in a military news release that previous geothermal exploration efforts indicate the Fallon facility “is ideally suited for enhanced geothermal systems to be deployed onsite.”

As for the Fort Bliss project, Michael Jones, a project director in the Army Office of Energy Initiatives, says it’ll combine geothermal technology with innovations from the oil and gas sector.

“This initiative adds to the momentum of Texas as a leader in the ‘geothermal anywhere’ revolution, leveraging the robust oil and gas industry profile in the state,” says Ken Wisian, associate director of the Environmental Division at the U.S. Bureau of Economic Geology.

The Department of Defense kicked off its geothermal initiative in September 2023. Specifically, the Army, Navy, and Defense Innovation Unit launched four exploratory geothermal projects at three U.S. military installations.

One of the three installations is the Air Force’s Joint Base San Antonio. Canada-based geothermal company Eavor is leading the San Antonio project.

Another geothermal company, Atlanta-based Teverra, was tapped for an exploratory geothermal project at the Army’s Fort Wainwright in Alaska. Teverra maintains an office in Houston.

------

This article originally ran on EnergyCapital.

Houston investor calls for all angels to move the ecosystem forward

houston innovators podcast episode 233

One of the biggest components of a well-functioning startup ecosystem is inarguably access to capital, and Mitra Miller is dedicated to enhancing education around investment and growing Houston's investor base.

As vice president and board member of the Houston Angel Network, the oldest angel network in Texas and one of the most active angel networks in the country, Miller strives to provide guidance to new and emerging angel investors as well as founders seeking to raise money from them.

"Most founders have no idea or understanding of how investors think — we are not an ATM," Miller says on the Houston Innovators Podcast. "We are really partners you are getting married to for the next 5, 8, 10 years — sometimes longer. We need to bring your allies in every sense of the word."



HAN, a nonprofit, provides a unique opportunity for its members, as Miller explains. The group consists of around 100 individuals from all business backgrounds, so evaluating companies together brings more than just a wealth of capital — but also a wealth of knowledge.

"What HAN provides is access to investments," Miller says, adding that members have the benefit in evaluating companies together with people from different backgrounds. "Inside a group like HAN, we have extraordinary expertise."

In addition to educating both founders and investors in the process, Miller has dedicated herself to providing opportunities for students in low-income parts of Houston to learn about the startup world. Eight years ago, she founded Eagle Investors, an organization that provides a year-long program that culminates in a group of students participating as judges for the Rice Business Plan Competition.

"They spend a year learning about innovation, entrepreneurship, and investing by meeting local investors, entrepreneurs, and service providers. They go around Houston to get to visit and ... experience all of the ecosystem," Miller says.

At RBPC, the cohort of high school students evaluate the pitches and select a company to provide a $5,000 prize.

Miller herself has been a judge at RBPC for 20 years now, and she's had a front row seat for watching Houston develop as an ecosystem. She's seen the city make real progress, but has one major call to action.

"The piece that I am most aware of that I would like to see grow is activating more accredited investors who are interested in this asset class of early-stage companies and plugging in," Miller says. "They can also invest their time and knowledge to help companies in our region grow and scale."

Report: Houston secures spot on list of top 50 startup cities

by the numbers

A new ranking signals great promise for the growth of Houston’s startup network.

Houston ranks among the world’s top 50 startup cities on a new list from PitchBook, a provider of data and research about capital markets. In fact, Houston comes in at No. 50 in the ranking. But if you dig deeper into the data, Houston comes out on top in one key category.

The city earns a growth score of 63.8 out of 100 — the highest growth score of any U.S. city and the seventh highest growth score in the world. In the growth bucket, Houston sits between between Paris (64.4) and Washington, D.C. (61.7).

The PitchBook growth score reflects short-term, midterm, and long-term growth momentum for activity surrounding venture capital deals, exits, and fundraising for the past six years.

PitchBook’s highest growth score (86.5) goes to Hefei, a Chinese manufacturing hub for electric vehicles, solar panels, liquid crystal displays, home appliances, and Lenovo computers.

The overall ranking is based on a scoring system that relies on proprietary PitchBook data about private companies. The system’s growth and development scores are based on data related to deals, exits, fundraising and other factors.

Houston earns a development score of 34.1 out of 100, which puts it in 50th place globally in that regard. This score measures the size and maturity of a city’s startup network.

Topping the overall list is San Francisco, followed by New York City and Beijing. Elsewhere in Texas, Austin appears at No. 16 and Dallas at No. 36.

The ranking “helps founders, operators, and investors assess locations when deciding where to expand or invest,” says PitchBook.

“Network effects matter in venture capital: Investors get more than half of their deals through referrals, according to research led by Harvard professor Paul Gompers,” PitchBook goes on to say. “So it stands to reason that dealmakers should seek these networks out when deciding where to do business.”

View All Listings