US Latinas are contributing to the Houston economy at a volume worth celebrating

guest column

Latina businesswomen are not just contributing to the economy; they are giving life to it. Photo via Getty Images

Hispanic Heritage Month provides an opportunity each year to reflect on the impact Hispanics have made in our culture. Whether we recognize it or not, we experience this impact year-round through our food, sports, business, politics, science, education and the arts. Yet, one of the most important and lasting impacts that isn’t often celebrated is the role the Hispanic community plays in accelerating economic growth.

The recently released U.S. Latina GDP Report, commissioned by Bank of America, reveals a powerful truth: Latinas are a driving force in the U.S. economy, contributing $1.3 trillion to the GDP in 2021.

In fact, Latina economic output has grown over 50 percent in a decade - far outpacing the growth rate of any other segment. Today, the Latina GDP is larger than the entire economy of Florida, and that of every other state except California, New York and Texas.

This rapid rise reflects the resilience, hard work and entrepreneurial spirit of Latinas across the country. Here in Houston, these statistics are evident in the contributions of Latina business owners who are driving our local economy and revitalizing our community.

Known as one of the most ethnically and culturally diverse cities in America, Houston is bolstered by an ever-growing Latino population. With over 2.8 million Hispanic and Latino residents in 2023, the Houston metropolitan area is home to the fourth-largest Hispanic and Latino population in the nation. Latina entrepreneurs are playing a vital role in shaping our economic landscape. About 25 percent of all Latino-owned businesses in Texas are owned by Latinas. To provide perspective, there are more than 11,000 Latino-owned businesses in Houston that are preserving the heritage of our community while fueling economic growth.

When it comes to college education, the number of Latinas with a bachelor’s degree or higher increased 103 percent between 2010 and 2021, while the number of highly-educated non-Hispanic females increased only 38.3 percent. And despite being just 9.3 percent of the U.S. population, Latinas are responsible for 30.2 percent of the U.S. labor force growth since 2010.

Through this increased educational attainment and powerful entrepreneurial mindset, Latinas continue to build thriving businesses that uplift their local communities, propel economic mobility and create generational wealth. They provide valuable services and act as role models, showing the next generation what is possible with dedication and opportunity.

As we celebrate Hispanic Heritage Month and the significant role Latinas play in our nation’s economic growth, we applaud the women who are strengthening our city, local communities and beyond.

These women are not just contributing to the economy; they are giving life to it.

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Elizabeth Romero is the managing director of business banking and Central and Southwest Region executive at Bank of America Houston.

Introducing the 10 startups participating in the Spring 2024 cohort of the DivInc Sports Tech Accelerator, a hybrid program based in the Ion. Photo via DivInc.com

10 sports tech startups named to Houston-based hybrid accelerator

game on

DivInc has named its latest sports tech-focused cohort of its hybrid accelerator that is housed out of the Ion.

The Sports Tech Accelerator has selected the 10 companies — with technology across human performance, fan experience, and more — for its 13th cohort to participate in the 12-week hybrid program this month and through July.

The program receives support from underdog venture team, Women In Sports Tech, The Collectiv, and HTX Sports Tech, with partners Bank of America, J.P. Morgan Chase & Co., Gunderson Dettmer, Brown Advisory, Ion, and Mercury.

The spring 2024 cohort includes:

  • Detroit-based Athlytic, which uses real-time data to develop a recommended minimum price per social platform for creator-athletes.
  • Ballin AI, from Tulsa, Oklahoma, is a unique scouting automation software, transforming the labor-intensive scouting process into a streamlined, data-driven operation that boasts improved efficiency over manual work.
  • Cache AI, founded in Bronx, New York, is a platform that uses AI to generate a score for athletes that brands can use to value them without bias.
  • Prosper, Texas-based DRAFTED is a platform to support the of Latina community in sports through digital storytelling, weekly newsletters, in-person and virtual programming, and collaborative brand partnerships.
  • From Chicago, Drip Tech Co. created an artificial intelligence concierge software that provides real-time hydration monitoring, digestible data, and actionable insights to both athletes and coaches.
  • Canadian company, Drive Hockey, founded in Coquitlam, British Columbia, developed an advanced skill-tracking system for aspiring young hockey athletes using sensors and AI technology to make NHL-level analytics simple & affordable for 120,000 amateur hockey teams.
  • Cincinnati, Ohio-based LunchTable is working on a fan activation and engagement platform that can mobilize fans into digital brand ambassadors.
  • Parscape, co-located in Chicago and Los Angeles, is a rewards and cash-back powered marketplace designed for the golf industry. Houston-based TRAINR is a platform for sports and performance coaches that offers booking, payments, taxes, CRM, content creation, financial services, nationwide access to training locations, and more.
  • From Rochester, New York, WEVOLV is working to improve decision making and a more equitable industry for athletes by using human and artificial intelligence and democratizing access.
The Artemis Fund has announced that it's closed its second fund. Courtesy photos

Houston-based, female-focused VC closes $36M fund

fresh funding

A women-led venture capital group based in Houston has closed its second fund to continue its mission of supporting female-founded startups in fintech, commerce, and care.

The Artemis Fund announced its $36 million second fund this month. Co-founded in 2019 by General Partner Stephanie Campbell, General Partner Diana Murakhovskaya, and Venture Partner Leslie Goldman Tepper, the firm has invested in more than 20 female-led startups — with over 60 percent with Black, Latinx, or immigrant leadership.

"Many funds have come to market that focus on diverse founders. Few are also funding the technology to address key barriers faced by overlooked businesses, communities, and families in the U.S.," Artemis leadership writes in a news release.

"Artemis invests in the big personal, every day, economic problems that Silicon Valley doesn’t understand or know how to solve," the release continues. "We see massive opportunity in what many VCs will quickly write off as too small, too fragmented, and too hard to solve. If it keeps families and small business owners up at night, we are likely backing a company solving it."

Artemis Fund II includes support from limited partners Bank of America, Bank of Montreal, TIAA Nuveen’s Churchill Asset Management, Texas Capital Bank, Amazon, The Rockwell Fund, and Ballentine Partners.

“The Artemis Fund is not only breaking down barriers themselves, but they are also investing in companies looking to catalyze change," Hong Ogle, Houston president at Bank of America, says in the release. "Artemis keenly understands how to identify and support diverse entrepreneurs, which ultimately helps us toward achieving our goal to advance economic opportunity for all our communities."

The second fund has already made investments in five startups:

  • Alameda, California-based Hello Divorce, a tech-enabled guide to divorce with research, planning, therapy, and community support.
  • Gemist, based in Los Angeles, provides tech tools to jewelers.
  • West Palm Beach, Florida-based Max Retail, a platform to sell leftover inventory.
  • Payverse, headquartered in Sherman Oaks, California, is a cross border payment processor leveraging their modern processing platform.
  • New York-based Builder's Patch, a software platform that streamlines the process to finance the development and preservation of affordable multifamily housing for CRE lenders and developers.

Here are predictions for what current and emerging trends will further shape businesses in 2024. Photo via Getty Images

Houston expert shares 3 business trend predictions for 2024

guest column

Last year was a dynamic year for businesses across all sectors. Artificial intelligence went from a novel technology to a more widely utilized business productivity tool. Many companies invested additional resources in sustainable business practices. And digital business solutions helped companies thrive.

Here are predictions for what current and emerging trends will further shape businesses in 2024.

Digital tools will continue to unlock operational efficiencies

Businesses of all sizes and sectors are embracing digital innovation to automate tasks and streamline processes. The new year provides business owners with an opportunity to review their operations—and industry best practices—to identify how digital tools can help them expertly manage various aspects of their businesses.

The Bank of America Mid-Sized Business Owner Report found that 54 percent of owners plan to apply for a bank loan or line of credit within the next year, and among that group, 43 percent plan to use the money to invest in new technologies. For example, 87 percent of business owners said they plan to utilize more automation and AI tools during the year ahead, and when asked how they plan to use these tools, owners listed reasons such as assisting with hiring (45 percent) and streamlining payroll and bookkeeping (42 percent).

Businesses also expect to use more digital payments in 2024, with 76 percent of owners anticipating all their transactions becoming digital at some point. A confluence of trends and benefits have helped digital payments proliferate—including widespread smartphone adoption and the growth of cloud-based software solutions, as well as increased digital transaction speeds and the additional security through encryption and tokenization. Digital automation will also continue to influence how businesses manage their accounts payable, as digital solutions make it easier and more efficient to process payments, track invoices and manage cash flow.

Labor markets are beginning to shift

The wave of resignations seen over the past few years has slowed, and according to the Bank of America 2023 Workplace Benefits Report, nearly 70 percent of employees plan to stay with their current companies in 2024.

As more businesses invest in digital tools and AI, they must prepare workers to use these tools properly through upskilling. Bridging the gap between a tool’s potential and company readiness will require training, and providing that training can help boost employee attraction and retention.

Despite this, labor shortages continue to challenge business owners. This year, we expect mobility between industries to continue as businesses hire more for skills than traditional industry experience or even education. A McKinsey & Co. report notes that hiring for skill is five times more predictive of on-the-job performance than hiring for education, and this practice also widens the potential talent pool.

Savvy business leaders will continue in their efforts to meet existing and prospective employee expectations in 2024. Our Workplace Benefits Report found that over half of employers currently have in-person work models, but workers continue to value flexibility. Remote work isn’t a good fit for all businesses, but those supporting it in full or part may benefit from greater worker satisfaction and retention.

Strategic partners can help navigate uncertainty

2024 is a general election year, and with the U.S. presidential election and other global elections we can expect to see market volatility. Further economic uncertainty will be fueled by mixed views about the likelihood of a recession and when interest rates will decrease.

Fortunately, the stock market tends to restabilize after elections, regardless of which party is in power. Business owners should be prepared to steer their companies and employees through these uncertain times, and one of the best ways to do that is by leveraging the expertise and tools of their strategic partners, including bankers, financial advisors, lawyers and accountants.

It’s one thing to monitor trends, but business leaders must adapt now to remain at the forefront later. By embracing these changes and investing in new strategies and technologies to support your business objectives, companies can position themselves for success in 2024 and beyond.

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Bryce Lindner is the senior vice president and market executive, commercial banking in South Texas at Louisiana at Bank of America.

Andrew Chang, managing director of United Airlines Ventures, joins the Houston Innovators Podcast. Photo via LinkedIn

Houston corporate venture leader calls for collaboration across sustainable fuel, innovation community

HOUSTON INNOVATORS PODCAST EPISODE 212

When it comes to the future of aviation — namely, making it more sustainable, a rising tide lifts all boats. Or, in this case, planes.

Andrew Chang, managing director of United Airlines Ventures, explains that working together is the key for advancing sustainable aviation fuel, or SAF. That's why United Airlines started the Sustainable Flight Fund, a $200 million initiative with support from industry leaders, including Air Canada, Boeing, GE Aerospace, JPMorgan Chase, Honeywell, Aramco Ventures, Bank of America, Hawaiian Airlines, JetBlue Ventures, and several others.

"We all recognize that we may compete in our core business, but with the importance of sustainable aviation fuel and given that it's an industry that doesn't exist — you can't compete for something that doesn't exist — let's collaborate and work together to explore technologies that can directly or indirectly support the commercialization and production of sustainable aviation fuel," he says on the Houston Innovators Podcast.

Within United Airline Ventures, Chang's job is to find technology to invest in across the aviation industry spectrum — from SAF to digital technologies that will improve the United customer experience. This means working with startups and other organizations to find the best fit — and, because he's based in Houston, one of United's seven key hubs, this means knowing and interacting with local innovators.

"The knowledge base and the capabilities are here — that's undebatable," Chang says of the Houston innovation ecosystem. "The next step is making sure we're accessing, promoting, collaborating, and learning from one another."

Again, as Chang recognizes, collaboration is key to further developing the ecosystem, "so that we're not trying to solve the same problem in a vacuum," he explains.

United Airlines recently signed an offtake agreement with Cemvita Factory, a Houston biotech startup that's working on SAF. Chang discusses this partnership on the show, as well as explaining how he works with other startups and what he's looking for.

Supporting and honoring our Hispanic-Latino clients is not just a month-long initiative, it is a long-term, generational investment in America and we are proud to be investing in a stronger economy for Houston now and for years to come. Photo via Getty Images

Expert: Building Hispanic wealth means investing in Houston

Guest column

Every year at this time ― Hispanic Heritage Month ― we collectively celebrate the economic, cultural, and social contributions of the Hispanic-Latino community to our nation. We honor the work of past generations which have allowed children and future generations to benefit from more opportunities.

As diverse a community as is the world, we strive to build a future where there are no barriers for success, and at Bank of America, we do our part to make an impact by helping build Hispanic-Latino wealth in Houston.

The numbers are clear: The 2020 Census revealed that the Hispanic-Latino population in the United States rose to 62.1 million, making up 18.7 percent of the total U.S. population and accounting for slightly more than half (51.1 percent) of the population growth between 2010 and 2020. Hispanic-Latinos now open more small businesses than any other group in the country and are also the fastest-growing demographic of small business owners across the nation. It is not surprising that Hispanic-Latino economic power continues to rise year after year. According to Nielsen Scarborough, the number of Houston Hispanic businesses have increased 85 percent since 2013.

Investing in business

Investing in Hispanic-Latino wealth means supporting entrepreneurs so they are set up for success. Early-stage funding is critical for the growth of a new business, especially when Hispanic-Latino entrepreneurs are still faced with gaps in financial literacy and business education, funding, and networking opportunities.

According to data from Crunchbase, Latino-founded startups accounted for only 2.1 percent of venture investments in the U.S. last year. This is unjustifiable.

As part of our commitment to advancing racial equality and economic opportunity, we have dedicated $350 million in minority- and women-led companies through capital investment by mission-focused venture funds. Of the funds we have in our portfolio, one in every four are led by Hispanic-Latino managers, providing capital that will help entrepreneurs and small business owners grow their businesses, create jobs, and improve financial stability.

An important element to creating opportunities for Hispanic-Latinos to build wealth, whether as a business owner or an employee, is ensuring that young people recognize higher education as a pathway to achieve success. That means partnering with colleges and universities and investing in job creation, skills-building, and support services for students to do so. Locally, we do this with EMERGE Fellowship and with the University of Houston College of Medicine. When we invest in students, we are investing in future professionals and business leaders who will build Hispanic-Latino wealth and contribute to Houston’s economy and culture. This is something we can celebrate together for years to come.

Investing in sustainable homeownership

Sustainable homeownership provides a lasting investment for future generations and cycles capital into the community. The National Association of Hispanic Real Estate Professionals (NAHREP) recently released data showing an increase in Latino homeownership, from 47.5 percent in 2019 to 48.4 percent in 2021, the highest level since the mid-2000s. Through the Community Homeownership Commitment, which provides low down payment loans and closing cost grants, families can take their savings and turn them into lasting legacies. It is a pillar for families to build wealth.

Here in Houston, we also support organizations that assist with homeownership, like Tejano Center, Avenue CDC, and Houston Habitat for Humanity. Building Hispanic-Latino home equity increases the amount of capital families can use now or in the future helping build our Houston economy.

During the past decade, the rate of Hispanic-Latino economic development has far outpaced rates among non-Hispanics. Supporting and honoring our Hispanic-Latino clients is not just a month-long initiative, it is a long-term, generational investment in America and we are proud to be investing in a stronger economy for Houston now and for years to come.

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Rick Jaramillo is the market executive for Bank of America Houston.

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5 Houston universities named best in the world on new U.S. News list

Top of the Class

Five Houston-area universities have been named among the best universities worldwide in U.S. News & World Report's just-released comprehensive list for 2026-2027.

U.S. News' Best Global Universities report ranks more than 2,250 schools based exclusively on their academic research performance and international reputation. Only 275 universities from the U.S. were included in the global ranking, and 21 based in Texas.

Harvard University topped the list for 2026-2027, and the Massachusetts Institute of Technology and Stanford University claimed the coveted No. 2 and No. 3 spots worldwide.

Houston's Baylor College of Medicine topped the list of the best local schools, and it ranked as the 144th best university in the world.

Here's how the rest of Houston's local institutions ranked:

  • No. 201 – Rice University
  • No. 324 – University of Texas Health Science Center Houston
  • No. 390 – University of Houston
  • No. 599 – University of Texas Medical Branch Galveston

In a statement explaining global university trends, the managing editor for Education at U.S. News, LaMont Jones, Ed.D., said schools in the U.S. have continued to rank "disproportionately high" while major universities from other countries in China and South America are starting to catch up.

"The continuing strength of [American university] reputations and academic research are, for the most part, unmatched," he said. "It's why students all over the world flock here to learn."

Top-ranking Texas universities
The University of Texas at Austin ranked No. 1 statewide and No. 56 worldwide, further cementing the university's reputation as the top choice for students seeking a higher education in Texas.

Earlier in June, UT Austin ranked No. 35 in a separate list of the best universities in the world from the Center for World University Rankings, which compared 2,000 schools globally.

Here's where other Texas universities stand among the top 1,000 in this year's global rankings:

  • No. 113 – University of Texas Southwestern Medical Center, Dallas
  • No. 177 – Texas A&M University, College Station
  • No. 296 – University of Texas at San Antonio
  • No. 451 – Baylor University, Waco
  • No. 503 – University of Texas at Dallas
  • No. 562 – Texas Tech University, Lubbock
  • No. 739 – University of North Texas, Denton
  • No. 975 – University of Texas at Arlington
  • No. 944 – Southern Methodist University, Dallas
Additionally, six Texas universities ranked outside the top 1,000: University of Texas Rio Grande Valley (No. 1,153); University of Texas El Paso (No. 1,238); Texas State University in San Marcos (No. 1,531); Texas Tech University Health Sciences Center in Lubbock (No. 1,871); Texas Christian University in Fort Worth (No. 1,906); and Sam Houston State University in Huntsville (No. 2,141).

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This article originally appeared on CultureMap.com.

Rice student startup lands $1.85M to launch medical drone network

critical cargo

Students at Rice University have developed a medical cargo drone transport system to help deliver sensitive medical supplies and improve mobile healthcare efforts.

Haast Autonomous is the brainchild of graduating seniors Ege Halac, Jason Chen and Santiago Brent, who got their venture idea off the ground with help from the Liu Idea Lab for Innovation and Entrepreneurship (Lilie) Summer Venture Studio. The founders have developed the prototype at Rice’s Oshman Engineering Design Kitchen (OEDK) with fellow Rice researchers Felix Hasson, Ethan Javedan, Kenna Sanders and Caden Schmidt.

The startup has raised $1.85 million in pre-seed funding, according to Rice. The founders plan to focus on Haast full-time following graduation. They said they aim to launch pilot trials in 2027 and head to market later that year.

“We need better alternatives for a fast, safe and on-demand system of transport for life-critical cargo,” Halac said in a news release from Rice.

The Haast team has developed a custom aircraft with software that manages dispatch, routes, and chain of custody to assist in how materials move between sites in centralized medical systems. Generally, the transportation of medical supplies and materials between facilities and points of care relies on ground shipping or expensive air transport.

Haast Autonomous’ aircraft can take off and land vertically, and is designed around a mission profile of 50 to 62 miles. It can carry a payload of at least 5 pounds, with future versions intended to scale up in size. It also includes a built-in payload bay that regulates temperature, pressure, vibration and tilt to protect sensitive contents such as patient samples, antivenom or poisoning kits and radioligands or other therapies, according to Rice.

At first, the company envisioned the mission to be centered around transplants, but saw the product being best suited for a variety of operations.

“What we realized is that the platform we are building is suited for medicine, but it really underlies a much larger problem of mission-critical transport across industries,” Brent added in the news release. “We are building the fastest, most secure logistics chain for the world’s most sensitive cargo.”

Haast Autonomous was recognized at the 2026 Oshman Engineering Design Showcase and Competition, where it won Best Aerospace or Transportation Technology. It also performed well in the 2026 Napier Rice Launch Challenge.

In the future, Haast Autonomous plans to deploy a fleet of aircraft. The software will be designed to assist hospitals in requesting flights and tracking deliveries in real time.

“The drone is only part of the solution,” Chen also added in the release. “What matters is moving something from point A to point B in a way that fits into how hospitals already operate.”

Houston scientist wins prestigious Pew Scholar award for brain cancer research

standout scholar

Christina Tringides, an assistant professor of materials science and nanoengineering at Rice University, is one of 21 scientists to win a prestigious Pew Biomedical Scholar award.

She is the first faculty member from Rice to win the distinction, which provides $300,000 over four years for advances in biomedicine, according to the university. The awards are granted to researchers who are in the first few years at the assistant professor level.

In Tringides’ case, the funding will support her innovative new method of modeling glioblastoma, a common and extremely aggressive form of brain cancer. Thanks to producing its own blood supply, glioblastoma spreads quickly, weaving tendrils of blighted tissue throughout the brain. Because of this, surgery is difficult and conventional therapies ineffective.

Understanding the way glioblastoma spreads is crucial to the search for a cure. Tringides is using hydrogels that mimic the brain’s extracellular matrix. Using cultures and a microscopic labyrinth, her team can see how the cancer spreads, bonds with neurons and changes cell wall activity. Essentially, Tringides has devised an intelligence test for tumors in hopes of learning how to outsmart them.

“As cancer crawls through the maze, we can look at how it is interacting with the neurons more and more, and measure how electrical activity is changing as a result,” she said in a news release from Rice.

Examining how cancer cells grow can reveal which conditional changes slow them down. Finding ways to alter the structure of brain matter in a way that makes it inhospitable to the cancer could lead to therapies that would impede growth or even reverse it. Using her custom-made ersatz brain maze makes it easier to observe changes than it would be in a patient’s brain.

“Imaging synapses is time-intensive ⎯ it can involve large data files that are hard to visualize, but if we know that the only place where we might have a synapse is this tiny 1-by-4-by-10 micron channel, it makes it much faster and reliable to image them,” Tringides said.

Born in Ames, Iowa, Tringides received her doctorate in biophysics from Harvard before joining Rice in 2024 through a Cancer Prevention and Research Institute of Texas (CPRIT) recruitment award.

Her research was also one of the first four projects to receive research awards through the Rice Brain Institute and TMC Neuro Collaboration Seed Grant Program.

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