Sixteen startup teams pitched at the seventh annual — but first-ever virtual – Bayou Startup Showcase. Photo courtesy of OwlSpark and RED Labs

Even despite a global pandemic, two university-based summer startup accelerator programs were determined to continue on. And, that's exactly what they did.

University of Houston's RED Labs and Rice University's OwlSpark pivoted their summer program, which they put on collaboratively, to a virtual approach. On Thursday, August 6, the program's 16 startup teams pitched their projects at the seventh annual Bayou Startup Showcase.

Here are this year's Class 8 presentations:

EVA

Vascular access requires a medical team to use an ultrasound machine to help navigate a needle's precision during the procedure. However, 5 percent of procedures result in an inexact and painful outcome. OwlSpark company, EVA — which stands for Exact Vascular Access, has created a device that works with the ultrasound machine to endure navigation of the needle during the procedure.

CareSafe

Seven million people fall every year, but as great and helpful wearable devices are, they aren't foolproof. CareSafe, a RED Labs company, taps into home WiFi to visualize when a fall occurs and the company can even notify emergency contacts and emergency services.

Ai-Ris

People who live in underserved and rural areas don't have regular access to eye care — which means that these people are exposed to preventable eye diseases. Ai-Ris has created a portable, telemedicine-ready device that can help get these populations access to eye care.

Dividends360

Ninety million people invest in the stock market — and more than half of those investors are self directed and spending several hours a week on planning their investments. RED Labs company Dividends360 is a web-based platform to help the modern investor make his or her decisions in a more efficient way.

FirstGen Solutions

Expecting mothers can't take the majority of medications in the market because the effects of the chemicals on the unborn child is unknown, and testing is limited to costly, inaccurate, and highly regulated animal testing. FirstGen Solutions, an OwlSpark company, is producing a stem cell testing kit for pharmaceutical companies to use as an earlier and easier way to indicate potential risks a medicine could have.

nisa EFFECT

Women undergoing menopause have no control over their hot flashes, which can happen often, last up to 20 minutes, and be debilitating to daily activities. Nisa EFFECT has created a cooling bra so that the 80 percent of women who experience hot flashes during menopause can have a discrete way to cool down.

FreeFuse

Five hundred hours of video content is uploaded every minute, and the sheer oversaturation of the industry makes growing an audience extremely difficult for content producers. Interactive video platform FreeFuse, an OwlSpark company, wants to flip the script and allow content creators to see what its audient wants to see in terms of content.

Morpheus Health

Pharmaceutical companies don't make it easy to find out about side effects medicines can have on its users. Morpheus Health, an OwlSpark company, uses data and patient information to better customize and predict potential side effects a medicine can have. Morpheus's results don't replace prescriptions or doctor consultations, but instead allow the patient to take that information into the consultation room.

Phase Filter

​Changing the air filters is an easily forgotten chore that, if undone, can cause unnecessary air quality issues and a higher electricity bill for homeowners. Phase Filter has designed a self-scrolling air filter that's easy to install and only needs to be changed once a year,

Bloodhound

The OwlSpark and RED Labs summer programs are meant to help early-stage startups figure out their market need and determine whether or not their product is a viable business. The Bloodhound team explains how they came up with their idea for a software that helps detect bleed in surgeries, and then how they realized, after research and mentorship through the program, that it wasn't an idea worth pursuing. Doctors need more help with stopping bleeds than finding them.

Crew Trace Solutions

The Navy needs an upgrade to their accountability practice. That's where Crew Trace Solutions, an OwlSpark company run by two military veterans, comes in. The technology mirrors something like EZ-Tag where personnel onboard are tracked throughout the ship as they pass through sensors set up in doorways around the boat.

VAYL

Everyone dreads the discomfort and disappointment that usually comes with dental appointments. The oral hygiene tools on the market today aren't cutting it, says the VAYL team, a RED Labs company. VAYL has created a device that brushes the entire mouth in an optimal way for time and for cavity prevention.

MoodyCorium

Finding the right moisturizer is a costly and exhausting industry for women. MoodyCorium, an OwlSpark company, is working on a solution so that women can navigate the hundreds of products available on the market.

ElastEye

Half of the glaucoma patients could have had their disease prevented by better diagnostics — and that's exactly what ElastEye has developed. The RED Labs company has created a non-invasive, early detection device that determines the elasticity of the eye.

BitGrange

Supporting local farmers can be hard — it might raise the price of produce for consumers while orders tend to be smaller than farmers prefer. BItGrange, an OwlSpark company, created an e-commerce platform to allow consumers to go in on purchases together to create a win-win situation for both sides of the transaction.

dext

Simple daily tasks can be overwhelming to stroke survivors and the only solution is exercise and rehabilitation. Dext is a wearable tool to help take that exercise and rehab into a daily, easy to use setting.

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Houston lab explores how AI bots can help the elderly

AI for aging

The University of Houston’s Empathetic Lifespan AI & Robotics for Aging (ELARA) Lab is currently conducting research into how AI bots may be able to help the elderly live more social and independent lives through several ongoing initiatives.

The lab officially launched last month as part of the Gerald D. Hines College of Architecture & Design under the leadership of Assistant Professor Chorong Park. Part of the lab’s mission is tackling ongoing problems with aging, such as dealing with disabilities and social isolation. Researchers’ current work is focused on designing a new AI companion bot specifically tailored to the needs of older people.

“We need to take all the needs of older adults seriously,” Park said in a news release. “They won't use the robot if they don't feel at ease or if they feel they are being constantly watched.”

The field testing of new AI bots in this population hopes to overcome several traditional obstacles in technology use among the elderly. A study by Park shows that many older people have a fear of overt surveillance when using advanced AI. There is also ageism to consider. Most new technologies are designed with younger and employed buyers in mind, not retirees who may need help remembering daily tasks or accessing important information.

“The more older adults are excluded from technology development, the worse those technology gaps will become,” Park said. “AI and the majority of technologies are created for younger people, so my research method integrates older adults directly into the design process.”

ELARA recently collaborated with the Mamie George Community Center in Richmond, Texas, to track seniors’ response to desktop AI bots like Emo and Cupboo. Researchers also had participants use air-dry modeling clay to create their ideal robotic companion.

While the eventual AI bot may be able to help the elderly feel less isolated and more supported, there are concerns to consider. A study published in the Asian Journal of Psychology charted the development of delusional thinking in a 72-year-old woman who became convinced the empathic-response bot was in love with her. The rise of “AI psychosis” has the potential to exacerbate mental health problems, particularly in socially isolated people, which a quarter of Americans over the age of 65 are.

ELARA’s research is focused on creating “pet-like” AI models with enhanced trust cues. If it can overcome the dangers of socially isolated people relying on AI for companionship, it could be a big step forward for independent aging.

SpaceX IPO set to be biggest ever and could make Elon Musk a trillionaire

IPO News

SpaceX says it plans to raise up to $75 billion when it goes public this month, setting the stage for the largest-ever stock market debut and putting Elon Musk on course to becoming the world's first trillionaire.

The company, formally known as Space Exploration Technologies Corp., said Wednesday it will sell 555.6 million shares at $135 a piece in an initial public offering. The estimated proceeds would easily top the $26 billion raised by oil giant Saudi Aramco in 2019. The offering would also give SpaceX a market value of $1.77 trillion. Only six companies in the S&P 500 are currently worth more, with Nvidia tops at $5.2 trillion.

Besides the size of the offering and the expected proceeds, SpaceX's amended prospectus updates details about how much control of the company Musk will have. As SpaceX's CEO, chief technical officer and chairman, Musk's voting power will come primarily through his ownership of 5.22 billion Class B shares, which give the holder 10 votes for every share held. According to the filing, Musk would have 82.4% of the voting power in the company.

Forbes currently values Musk's net worth at $826 billion and his stake in SpaceX at $542 billion. The estimated value of his SpaceX holdings was based on an overall value for the company of $1.25 trillion. Based on those numbers, a $1.77 trillion valuation for SpaceX would boost Musk's net worth by $223 billion, making him a trillionaire. However, much of Musk's worth is in stock that he has yet to cash in.

Even as it makes a bid for a blockbuster market debut, SpaceX is currently losing billions of dollars a year. The filing shows that the company lost $2.6 billion from operations last year on $18.7 billion in revenue, and the losses kept piling up at the start of this year, too.

Fantastical plans

Time will tell how SpaceX fares on the market. Musk's plans for the company are as fantastical as the money he hopes raise in the sale.

Colorful, even frightening in parts, the IPO document strikes a contrast with the typically dry, technical prose in IPO documents, detailing plans to use proceeds from the sale to help put men on the moon again and perhaps even Mars. In one section, it talks of a need to build "a permanent human colony" on the red planet with "at least one million inhabitants" as existential threats loom that could consign man to "the same fate as the dinosaurs."

Musk has almost equally ambitious plans for his other publicly traded company, Tesla. His goal is to transform the maker of electric vehicles into a producer of robotaxis and humanoid robots. Dan Ives of Wedbush Securities wrote in a research note that he expects Tesla and SpaceX to merge next year.

AI plays a key role

Key to the success of both companies — and any merged entity — is artificial intelligence. In its IPO filing, SpaceX says it sees potential revenue from AI of up to $26.5 trillion. But that depends on another lofty Musk ambition — putting data centers in space, which is not technologically possible at the moment.

Transforming his space company into a primarily AI-focused company will be a challenge for Musk, who started xAI in 2023 with 11 other co-founders who have all since left. Some were recruited away by rivals.

Its main AI product, the chatbot Grok, is "less impressive than anything that we see from any other major player in the space, whether that's OpenAI, or Anthropic, or (Google's) Gemini," said IDC analyst Arnal Dayaratna.

Dayaratna said that doesn't mean SpaceX doesn't have potential as a major AI player, thanks in part to its computing partnership with Anthropic and Musk's recent deal that gave SpaceX the rights to buy AI coding tool Cursor for $60 billion later this year. Folding in Cursor's capabilities would give SpaceX access to the coveted business customers now using Anthropic's Claude or OpenAI's ChatGPT.

SpaceX plans to use the net proceeds from the IPO to fund the expansion of infrastructure for its AI and rocket businesses, and to beef up the constellation of satellites that power Starlink Mobile, among other investments.

The company plans to list on the Nasdaq under the symbol "SPCX" and could begin trading as soon as the end of next week.

And SpaceX isn't the only colossal market debut investors are now bracing for. Earlier this week, Anthropic submitted a confidential filing with the U.S. Securities and Exchange Commission to officially start its own IPO clock.

OpenAI has not yet reported filing the initial SEC paperwork, but an IPO from the ChatGPT maker is widely expected.

"This listing represents the first major test for public markets after years of muted IPO activity with SpaceX paving the way for AI giants Anthropic and OpenAI to follow soon after," Ives wrote.

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Associated Press Technology Writer Matt O'Brien contributed.

New UH survey reveals concerns over AI data center growth in Houston

data findings

A new report out of the University of Houston shows that area residents remain wary of the long-term effects of operating data centers.

The recent survey from the University of Houston’s latest SPACE City Panel, conducted by the Center for Public Policy at the Hobby School of Public Affairs, shows that while 85 percent of Houston-area residents use AI, nearly 63 percent oppose the construction of AI data centers within 1 mile of their homes.

Respondents’ concerns centered around data centers’ high energy demand and the area’s power grid reliability. According to the survey, 32 percent of residents who oppose local data center projects would be more likely to support the centers if they relied on renewable energy over fossil fuels.

“Respondents understand that AI can bring economic and educational benefits, but they are also concerned about the physical infrastructure needed to fuel AI, especially data centers,” Soran Mohtadi, post-doctoral fellow at the Hobby School and a researcher on the report, said in a news release. “This physical infrastructure demands more electricity and water, leading to environmental impacts.”

Experts estimate that 6.5 gigawatts of data center capacity will be added to the Texas grid by 2030. And Houston’s data center capacity is predicted to more than double by 2028.

The Electric Reliability Council of Texas also projects electricity demand could reach 218 gigawatts by 2031, which would be more than double the record peak set in August 2023. Data centers are expected to account for 86 gigawatts of that new demand.

Survey respondents also said they are concerned about the state's future water supply, given the large amounts of water that data centers need to stay cool.

In terms of who’s responsible for that issue, 57.6 percent of respondents said they put the onus on Texas lawmakers, while 31.5 percent say tech companies should be responsible.

Additionally, more than 75 percent of respondents believed that data center developers and technology companies—not residents—should bear the cost of infrastructure upgrades to support data centers.

“Every decision legislators make has implications on residents’ everyday lives and local infrastructure now and in the future,” Maria P. Perez Arguelles, lead researcher on the report and research assistant professor at the Hobby School, added in the news release. “This issue is going to become more important in years to come, so this is just the beginning.”

Read the full report here.