Houston startup partners with nonprofit to launch $70M fund to support businesses in marginalized communities

funding for all

The Equitable Access Fund is designed to meet demand for business credit among small businesses, especially those run by women, military veterans, people with disabilities, and members of the BIPOC, Latinx, and LGBTQ communities. Photo via HelloAlice.com

Houston-based fintech startup Hello Alice and the nonprofit Global Entrepreneurship Network have teamed up to create a $70 million fund that’ll help enable access to credit for small businesses.

Initial funding for the Equitable Access Fund, which debuted today, comes from Wells Fargo. GEN, which helps people start and build businesses, will manage the fund. Hello Alice’s fintech platform offers credit, loans, and grants to U.S. small business owners.

The new fund will provide credit enhancements — such as loan guarantees, loan-loss reserves and cash-collateral deposits — to ease risks for financing partners and free up money for underserved small business owners who face credit challenges.

The fund’s financing partners include First National Bank of Omaha, which issues Hello Alice’s small business credit card, and certain participants in Hello Alice’s financing marketplace. Other partners include the Mastercard payment network and the Kauffman Foundation, a nonprofit that fosters entrepreneurship.

The fund is designed to meet demand for business credit among small businesses, especially those run by women, military veterans, people with disabilities, and members of the BIPOC, Latinx, and LGBTQ communities. Hello Alice data shows that only one-fourth of small business owners have applied for a business credit card, and 85 percent of those applications were rejected due to poor credit or lack of credit.

Through the Equitable Access Fund, small business owners will be able to obtain a business credit card, build their credit profile, and eventually qualify for traditional credit and lending products. The $70 million fund seeks to unlock as much as $1 billion in credit for thousands of small business owners.

“We’re looking forward to creating more partnerships and bringing more institutions on board to the fund to achieve the goal of equitable access to credit,” Elizabeth Gore and Carolyn Rodz, co-founders of Hello Alice, say in a news release.

Wells Fargo Foundation is backing the Equitable Access Fund.

“Small businesses are a critical contributor to the economy and to building generational wealth,” says Otis Rolley, president of the foundation. “We need to create more pathways for historically marginalized small businesses to grow and prosper.”

In conjunction with GEN and Hello Alice’s Equitable Access Program, small business owners will receive credit-building education and technical assistance through a tool called the Business Health Score. The tool, which Hello Alice launched in April 2023, supplies an overview of a business’ financial condition.

Hello Alice Co-Founders Carolyn Rodz and Elizabeth Gore announced their latest opportunity for founders from marginalized communities to access funding. Photos via helloalice.com

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DivInc is bringing another new accelerator program to Houston — this one is focused on clean energy. Photo via DivInc.com

Chevron, Microsoft back Houston-based clean energy program for BIPOC and female founders

ready to grow

A Texas-based accelerator is bringing its third diversity-focused program to Houston.

DivInc, a startup accelerator originating in Austin and established for people of color and women entrepreneurs, has announced that the title sponsors for the inaugural Clean Energy Accelerator are Chevron and Microsoft. The new program will join DivInc's existing accelerators — Women in Tech and Sports Tech — at the Ion.

"With Houston known as the energy capital of the world, DivInc has the opportunity to provide a pipeline of women, black, and latino-led high-growth, high-impact startups focused on clean energy," says Ashley DeWalt, DivInc Houston's managing director, in a news release. "We see this initiative ultimately driving a more diverse, equitable, and inclusive ecosystem within this clean energy transition sector for generations to come."

Applications for the Spring 2023 Clean Energy Accelerator are due today, February 10, according to the website. Startups accepted into the program should be led by BIPOC and women founders committed to working 10 to 15 hours per week during the 12 week program, which will start April 10.

The founders should be "working to shift the energy sector in the areas of clean energy production, energy storage and transmission, energy efficiency, carbon economy, and sustainable cities," per the release. In addition to the two title sponsors, the new program is also supported by Houston Premier Partners, J.P. Morgan Chase & Co., Verizon, The Ion, and Mercury.

"With a booming startup industry, a commitment to innovation, and a diverse workforce, Houston and organizations like DivInc are poised to play a vital leadership role and operate as a powerful force for energy progress," says Jim Gable, president of Chevron Technology Ventures, in the release.

The cohort, which will accept up to 10 companies, will work one-on-one with both the Microsoft and Chevron teams, as well as have access to DivInc's network of mentors and curriculum. Once the selected companies have completed the program, they will each receive $10,000 in non-dilutive seed funding.

"We are committed to enabling organizations in the clean energy transition while mindful of millions still without access to energy," said Darryl Willis, Corporate Vice President, Energy Industry at Microsoft. "This collaboration with DivInc and Chevron to support underserved entrepreneurs advancing the world's clean energy needs speaks to this climate commitment as well as diversity, equity and inclusion."

Companies with resources to spare should step up to help support small and minority-owned businesses. Photo via Getty Images

Houston expert: Now is the time to support BIPOC-owned small businesses

Guest column

It's clear that the pandemic continues to negatively impact many businesses, and chief among them small, minority-owned businesses. In fact, a study from late last year revealed that minority-owned organizations have been hit disproportionately hard – Black business owners experienced a 41 percent drop in business activity, while Latinx business activity dropped by 35 percent and Asian business activity dropped 26 percent.

Of course, COVID-19 is not the only obstacle that small and minority-owned businesses face. They are also contending with systemic social and economic injustices, civil and social unrest, as well as environmental events. In fact, the pandemic has further spotlighted these ongoing inequities in our communities.

In Houston, nearly 30 percent of startup companies are minority-owned, and studies indicate that Black neighborhoods have driven the majority of start-up growth during the pandemic. These small businesses and their owners have been in survival mode, using their skills, creativity, resources and capacities to keep their doors open and their businesses profitable — but this heavy burden should not fall on them alone.

After all, small businesses are the backbone of our economy. When they don't make it, our nation as a whole suffers: skyrocketing unemployment rates, reduced consumer spending and less optimistic long-term forecasts for all businesses, among other effects. But when they succeed, we all succeed.

Companies with resources to spare should step up to help support small and minority-owned businesses — and that's why last year Comcast created its initiative, Comcast RISE, to help these businesses resolve their challenges and find long-term success.

As part of the first wave of RISE — which stands for "Representation, Investment, Strength and Empowerment" — we gave eligible minority-owned small businesses located in Houston (and in four other U.S. cities severely impacted by COVID-19) the chance to apply for direct grants of $10,000. More than 700 small businesses received these grants, including more than 200 businesses based in the Houston area. Now, the second round of applications for RISE grants is open, and 100 lucky applicants will be chosen to each receive $10,000.

Two local businesses have already experienced the positive impact that these grants can provide. Ashley Gomez, 132 Design partner – a brand and web design company for small businesses – used their business' RISE grant to invest in technology and professional development for the staff. Since then, 132 Design has seen a 30 percent increase in revenue. Meanwhile, Cori Xiong, owner of the Houston-area staple Mala Sichuan Bistro, was able to pay off her extra business expenses associated with the pandemic, as well as invest in publicity and marketing efforts for her storefronts.

Here's what you need to know if you're a small business owner interested in applying for a grant. If your minority-owned business is eligible — that is, at least 51 percent minority-owned, independently owned and operated, registered as a business in the U.S., in operation for more than a year, and located in Harris or Fort Bend county— simply fill out the form on the Comcast RISE website between October 1 and 14, 2021.

We, at Comcast, are deeply committed to helping drive change and bolster the process of correcting social and economic injustices. The Comcast RISE program helps meaningfully impact and support the small businesses that are shaping our communities. At the end of the day, our economy's success is just part of the equation. It's on all of us to ensure equity, diversity, and inclusion for our communities.

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Vince Margiotta is the vice president at Comcast Business.

Ten Houston companies received funding from the Founders First CDC's Job Creators Quest Grant. Photo courtesy

Nonprofit awards 10 Houston companies over $30,000 in grant funding

founders first

A national nonprofit has granted $100,000 in funding to 31 companies across the state. Ten of the recipients are based in Houston.

Founders First CDC — an organization that supports diverse founder-led, revenue-generating businesses — named the winners of its new Job Creators Quest Grant this week. Over 600 Texas businesses applied, and the selected recipients represent industries from construction and manufacturing to STEM and healthcare, to hospitality, and more.

"The challenges of simply keeping the doors open have been amplified by an unforeseen obstacle – the pandemic. Now more than ever it takes commitment, perseverance and healthy funding to succeed, which is why I'm excited about Founders First CDC," says Texas State Senator and small business owner, Royce West, in a news release. "This organization is providing small businesses with wherewithal to create jobs, which in turn help sustain operations, achieve business goals and stimulate the economy."

Launched earlier this year, the Job Creators Quest Grant is funding businesses to help them retain and grow their workforce through the pandemic. Since its inception, the program has awarded more than $220,000 to minority and underrepresented business owners throughout the United States.

"We have observed many founders working more in their business than on their business. Our priority is to give entrepreneurs resources to grow while simultaneously becoming premium wage job creators within their community," says Shaylon Scott, executive director of Founders First CDC, in the release. "Investing in diverse entrepreneurs is an impactful way to drive job and wealth creation in underserved communities. The Job Creators Quest Grant is more than a dollar amount, it's a celebration of their success."

Eligibility requirements included the company's founder must be Black, indigenous, a person of color, LGBTQIA+, military veteran, woman or located in a low to moderate income area and be a for-profit company with annual revenues between $100,000 to $3 million. Grant winners will use the funds to help create and add 1-2 net new premium wage jobs in the next 12 months. The program was funded by a $1 million grant from the Rockefeller Foundation, along with Founders First CDC Capital Partners' recent $9 million series A.

The Houston companies that received funding were:

DM Electrical and Construction LLC - $10,000
Medley Inc. - $10,000
EFS GROUP PLLC - $2,500
AtWork Personnel Services - $2,500
Camellia Alise, LLC - $1,500
Flava Wings - $1,500
Oops Steam Cleaning - $1,500
The Body: A Home for Love - $1,500
TNR Accounting & Management Consulting, LLC - $2,500
Socium Solutions LLC - $2,500

The other Texas companies that received grant money were:

COCINA 54 (Austin) - $1,500
Laundris Corp (Austin) - $1,500
Center for Music Therapy, Inc. (Austin) - $1,500
Le Rouge Cuisine Food Company (Dallas) - $5,000
TDG Scientific (Dallas) - $5,000
SCENT & FIRE CANDLE COMPANY (Dallas) - $2,500
brittani (Dallas) - $2,500
Atmospheric Home Staging (Dallas) - $1,500
RD Adams Enterprise LLC dba ONE Elite Staffing (Dallas) - $1,500
Civil Pour (Dallas) - $1,500
Lalloon Marketing Group, LLC dba Imperium Surgical Partners (Dallas) - $1,500
WEST ONE PRODUCTS LLC (Fort Worth) - $1,500
Hooked On Code, LLC (Frisco) - $5,000
Hustle Clean (Frisco) - $5,000
PriceSenz LLC (Irving) - $1,500
R2R Palliative and Hospice Care LLC (Lewisville) - $1,500
Bernadette Davis Communications (Plano) - $1,500
Channel Source Inc (Southlake) - $5,000
KoderLabs (Trophy Club) - $1,500
Brisco Wheel Repair LLC DBA Alloy Wheel Repair of San Antonio (San Antonio) - $1,500

Here's your latest roundup of innovation news you may have missed. Shobeir Ansari/Getty Images

Google grants Houston founders funds, The Ion looks for artists, and more local innovation news

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The Houston innovation ecosystem is bursting at the seams with news, and for this reason, local startup and tech updates may have fallen through some of the cracks.

In this roundup of short stories within Houston innovation, the Comcast RISE program expands to grant more funds, Google names Houston-area recipients from its Black Founder Fund, The Ion is looking for artists to participate in a new initiative, and more.

Google cohort awards Black founders $100,000 each

Google has granted funds to two Houston companies. Photo via Pexels

DOSS and SOTAOG, two Houston-based startups, have received $100,000 each as a part of the second cohort of the Google for Startups Black Founders Fund, a $10 million initiative for Black founders. Originally reported to be a part of Google's accelerator early this summer, DOSS is a digital brokerage that uses tech to make homeownership more affordable, and SOTAOG is an enterprise solutions provider within the oil and gas and heavy industrial industries.

"The Google for Startups Black Founders Fund embodies our mission of helping underrepresented founders grow their businesses. We are excited to continue the fund and contribute funding to Black founders, with no strings attached. Black founders currently receive less than 1 percent of total VC funding," says Jewel Burks Solomon, head of Google for Startups US, in a news release. "We heard loud and clear from the 2020 fund recipients that Google for Startups and Goodie Nation have been crucial to their success not only through funding, but through community, mentorship, network connections and technical expertise."

Last year, Google for Startups awarded 76 Black-led startups up to $100,000 in non-dilutive funding, as well as technical support from tools and teams across Google, including as much as $120,000 in donated search Ads from Google.org and up to $100,000 in Google Cloud credits, according to the release.

In addition to the two companies from Houston, eight companies from Austin and Dallas were also chosen for the second program.

The Ion calls for local artists

The Ion is looking for local artists to create innovative window displays. Photo courtesy of The Ion

The Ion, a Midtown innovation hub that's owned and operated by Rice Management Company, is looking for local artists to work on two prominent display windows at the front of the newly renovated historic Sears building.

"As a nexus for creativity of many different kinds, The Ion welcomes Houston's talented artists to tap into their unique skill sets and diverse backgrounds to submit inventive proposals that will ultimately comprise two different art installations. Each installation will contribute to Houston's innovation ecosystem by inspiring the growing community of creators who will see the building's display windows on a daily basis," says Artistic Consultant Piper Faust in a news release.

The two art installations will reside for six months — from February to August of next year. The submissions will be evaluated by a team of experts identified by Rice Management Co. and Piper Faust. The budget for each project will be $20,000.

According to the release, the submissions are open to Houston-area artists and should be in line with The Ion's "vision and mission of accelerating innovation, connecting communities and facilitating partnerships to create growth and opportunity in Houston."

Artists can apply online until October 1 at 5 pm.

Comcast RISE announces additional $1 million for Houston founders

Comcast to dole out $1M in grants to BIPOC-owned small businesses in Houston

The Comcast RISE program will give out another batch of $10,000 grants to BIPOC-owned small businesses in Houston. Photo via Getty Images

The Comcast RISE Investment Fund, which announced funding for 100 small businesses in Houston earlier this year, has expanded to provide an additional $1 million in support. The program is focused on BIPOC-owned small businesses in Harris and Fort Bend Counties that have been in business for three or more years with 1 to 25 employees.

Eligible businesses can apply online at ComcastRISE.com beginning October 1 through October 14 for one of the one hundred $10,000 grants.

Houston startup wins $25,000

Day Edwards, founder and CEO of Church Space

Day Edwards, founder and CEO of Church Space, won $25,000 for her company. Photo courtesy of Church Space

Dallas-based Impact Ventures, a nonprofit startup accelerator focused on empowering women and communities of color, hosted its bi-annual event, The Startup Showcase. A Houston-based company, Church Space, took the top prize of $25,000.

Billed as the "Netflix of churches," Church Space originally started as a way to allow groups to rent spaces for worship. But, in light of the pandemic, the company is pivoted to launch Church Space TV, a streaming program that allows churches and ministries to stream worship services for free.

"It felt like the perfect opportunity to give churches a way to reach more people during the pandemic," Day Edwards, founder and CEO of Church Space, previously told InnovationMap. "This would create more impact than anything we could possibly offer at this time."

The company is also one of MassChallenge Texas's 2021 cohort.

Houston health care leader receives prestigious award

Dr. Peter Hotez, a leader in the development of Texas Children's and Baylor's COVID-19 vaccine construct, has been named the recipient of a prestigious award. Photo courtesy of TCH

Dr. Peter Hotez, Texas Children's Hospital Chair in Tropical Pediatrics, has been awarded the 2021 David E. Rogers Award. Hotez is co-director of the Center for Vaccine Development at Texas Children's Hospital and Professor of Pediatrics and Molecular Virology and dean of the National School of Tropical Medicine at Baylor College of Medicine.

The annual award, presented by the Robert Wood Johnson Foundation and the Association of American Medical Colleges, "honors a medical school faculty member who has made major contributions to improving the health and health care of the American people," according to a news release.

"I am thrilled to be honored with the David E. Rogers Award," Hotez says in the release. "As we continue this fight against COVID-19, having the additional support from the AAMC will amplify our efforts to improve public health nationally and globally."

The award will be presented to Dr. Hotez at the 2021 AAMC Awards Recognition Event on Wednesday, October 27.

Hotez is leading the development of Texas Children's and Baylor's COVID-19 vaccine construct, according to the release, and he has dedicated much of his time to vaccine advocacy efforts, countering rising antivaccine and anti-science sentiments in the United States while promoting vaccine diplomacy efforts globally.

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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.

Texas residents earn 11th highest income in U.S., says 2026 study

Money Matters

A new WalletHub study comparing income disparities across America has ranked Texas residents No. 11 on the list of states with the highest earning residents in the nation.

The report, "States Where People Have the Highest Income (2026)," analyzed U.S. Census Bureau income data in all 50 states and the District of Columbia. The report evaluated the average annual income of the top five percent, the median annual household income, and the average annual income of the bottom 20 percent of residents in every state, all adjusted for the cost of living.

The report's data revealed the top five percent of Texans, the highest earners, make $520,378 on average yearly after adjusting for the cost of living. That's the seventh-highest income among the top five percent of earners nationwide.

Meanwhile, the median annual income of a Texas household is just under $76,000. The bottom 20 percent of Texas residents make $17,651 a year, the report found.

For additional context, the latest data from the Federal Reserve shows an American household's median yearly income is about $83,700. WalletHub analyst Chip Lupo also found that the highest earning 10 percent of individuals in the U.S. earn over 12 times more than those in the lowest-earning 10 percent, based on the latest Census data.

"By measuring the income of various percentiles against a state's median income, we can better identify where income disparities are more prevalent, which could help us better understand why residents of certain states struggle more to make ends meet," said Lupo.

Virginia is the state where residents earn the highest income in the U.S., WalletHub said. Based on the report's findings, the top five percent of Virginians make $545,097 on average per year after adjusting for the cost of living. The median annual income of a Virginia household comes out to $95,339, and the bottom 20 percent of residents make $19,671 annually on average.

Conversely, West Virginia is the state where people have the lowest income in the U.S. A West Virginia household makes a median annual income of $56,610, the third-lowest nationally, and the bottom 20 percent of residents make $13,260 on average per year, which is the fifth-lowest in the nation. The top five percent of West Virginians make $372,218 on average per year.

The top 10 states where residents have the highest income are:

No. 1 – Virginia
No. 2 – New York
No. 3 – New Jersey
No. 4 – Washington
No. 5 – Connecticut
No. 6 – Utah
No. 7 – Colorado
No. 8 – Minnesota
No. 9 – Illinois
No. 10 – Massachusetts

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This article originally appeared on CultureMap.com.

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