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

short stories

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

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

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

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

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

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

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

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

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

Some examples of the grants are:

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

2 Mercury investors named to prestigious programs

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

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

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

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

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

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

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

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

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

Here are the statistics for the entire United States:

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

Applications are open for pitch competition

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

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

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

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

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

Houston startup joins national 5G accelerator cohort

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

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

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

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

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

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

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Black Girl Ventures has launched in Houston. Photo courtesy of Black Girl Ventures

Organization launches Houston chapter to drive investment and social capital for women of color

a seat at the table

Everyone knows the statistics. Female-founded startups receive around 2 percent of the venture capital funding, according to some reports, and when you break that down into women of color receiving funding, it's even less.

A Washington D.C.-based organization is looking to give these women seats at the table with the launch of Black Girl Ventures in Houston. BGV is based in The Cannon locally, and is looking to partner with other Houston organizations to grow its presence.

"Black Girl Ventures is here — not just in Houston but across the country and the globe — to be able to help create social and financial capital for black and brown women," says Sharita M. Humphrey, a Houston financial adviser and team lead for BGV in town.

The organization launched its local chapters — including Houston, Miami, Durham, Philadelphia, and Birmingham —right around the same time this spring to create a huge splash across the country. The organization, which is made up of 31 employees and leaders across the country, focuses on events and programing for female founders of color to prepare them for financial growth — including the networks and know how needed for that process.

"Being an African-American women founder I did see that there was a need for more social and financial capital," Humphrey says. "We have access — especially living here in Texas — to financial capital, but we don't understand how important that social capital is to be able to obtain that financial capital."

The cornerstone event for Houston's BGV is set to be in August. It's a pitch event with a live crowdfunding campaign. The event, which uses SheRaise online to fundraise, has been done for a few years coinciding with SXSW — this year's was done digitally. Now, with the launch of the five markets, each of the new chapters will get to fo their on versions locally.

The event requires the eight companies that will pitch to: be revenue earning, have a black or brown female founder, and be based in the Houston area. The first, second, and third place startups will win prizes, and each of the startups will be able to raise money online through SheRaise. Companies can apply online for the event.

Humphrey says she has big plans for her BGV chapter, including raising $1 million for her Houston members — something she is determined to make happen with the right amount of social capital help and financial coaching.

"When they get to the table with venture capitalists, they'll be ready," she says.

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UH lands $11.8M for first-of-its-kind early language development study

speech funding

Researchers at the University of Houston have secured an $11.8 million grant from the National Institutes of Health to conduct a first-of-its-kind study of early language development.

Led by Elena Grigorenko, the Hugh Roy and Lillie Cranz Cullen Distinguished Professor of Psychology, and research professor Jack Fletcher, the study will follow 3,600 children aged 18 to 24 months to uncover how language skills develop at this critical stage and why some children experience delays that can influence later growth.

The NIH funding will also support the development of the new national Clinical Research Center on Developmental Language Disorders at UH, which aims to bring experts from psychology, education, health and measurement sciences to study how children learn language.

“This will be the first national study to estimate how common late talking is using a large, representative sample of Houston toddlers,” Grigorenko said in a news release. “By following these children as they grow, we hope to better understand the developmental pathways that can lead to conditions such as developmental language disorder and autism.”

UH’s team will partner with the pediatric clinic network at Texas Children’s Hospital, where children will be screened for early language development, allowing researchers to identify those who show signs of delayed speech. Next, researchers will follow the cohort through early childhood to examine how language abilities evolve and how early delays may lead to later challenges.

The Clinical Research Center on Developmental Language Disorders will be the 14th national research center established at UH, and will include researchers from multiple UH departments, as well as partners at Baylor College of Medicine and the Texas Center for Learning Disorders.

“This level of investment from the National Institutes of Health reflects the significance of this work to address a complex challenge affecting children, families and communities,” Claudia Neuhauser, vice president for research at UH, said in a news release. “By bringing together experts from multiple disciplines and partnering with major health systems across the region, the project reflects our commitment to advancing discoveries that impact our community.”

Rice Alliance names Houston healthtech exec as first head of platform

new hire

The Rice Alliance for Technology and Entrepreneurship has named its first head of platform.

Houston entrepreneur Laura Neder stepped into the newly created role last month, according to an email from Rice Alliance. Neder will focus on building and growing Houston’s Venture Advantage Platform.

The emerging platform, which is being promoted by Rice Alliance and the Ion, aims to connect founders with the "people, capital and expertise they need to scale."

"I’ve spent a lot of time thinking about what it takes to make an innovation ecosystem more navigable, more connected, and more useful for founders," Neder said in a LinkedIn post. "I’m grateful for the opportunity to do that work at Rice Alliance, alongside a team with a long history of supporting entrepreneurship and innovation."

"Houston has the talent, institutions, and industry base to create real advantage for founders," she added. "I’m looking forward to listening, learning, and building stronger pathways across the ecosystem."

Neder most recently served as CEO of Houston-based Careset, where she helped bring the Medicare data startup to commercialization. Prior to that, Neder served as COO of Houston-based telemedicine startup 2nd.MD, which was acquired for $460 million by Accolade in 2021.

"Laura brings a rare combination of founder empathy, operational experience and ecosystem leadership," Rice Alliance shared.

Neder and Rice Alliance also shared that the organization is hiring developers to design the new Venture Advantage Platform. Learn more here.

Elon Musk's SpaceX files initial paperwork to sell shares to the public

Incoming IPO

Elon Musk's space exploration company has filed preliminary paperwork to sell shares to the public, according to two sources familiar with the filing, a blockbuster offering that would likely rank as the biggest ever and could make its founder the world's first trillionaire.

A SpaceX IPO promises to be one of the biggest Wall Street events of the year, with several investment banks lining up to help raise tens of billions to fund Musk's ambitions to set up a base on the moon, put datacenters the size of several football fields in orbit and possibly one day send a man to Mars.

The sources spoke on condition of anonymity because they were not authorized to talk publicly about the confidential registration with the Securities and Exchange Commission.

SpaceX did not respond immediately to a request for comment.

Exactly how much SpaceX plans to raise has not been disclosed but the figure is reportedly as much as $75 billion. At that level, the offering would easily eclipse the $29 billion that Saudi Aramco raised in its IPO in 2019.

The offering, coming possibly in June, could value all the shares of SpaceX at $1.5 trillion, nearly double what the company was valued in December when some minority owners sold their stakes, according to research firm Pitchbook, before an acquisition that increased its size.

Musk owns 42% of the SpaceX now, according to Pitchbook, though that figure will change with the IPO when new owners are issued shares. In any case, he is likely to pierce the trillion dollar mark because he is already close. Forbes magazine estimates Musk's net worth at roughly $823 billion.

In addition to making reusable rockets to hurl astronauts and hardware into orbit, SpaceX owns Starlink, the world’s largest satellite communications company. The company also recently brought under its roof two other Musk businesses, social media platform X, formerly Twitter, and artificial intelligence business, xAI, in a controversial transaction because both the seller and the buyer were controlled by him.

SpaceX has become the biggest commercial launch company in its industry, responsible for sending payloads into orbit for customers across the globe, but has also benefited from big taxpayer spending. That has raised conflicts of interest issues given that Musk was the biggest donor to President Donald Trump's campaign and is still a big backer.

In the past five years, SpaceX won $6 billion in contracts from NASA, the Defense Department and other U.S. government agencies, according to USAspending.gov.

Among current SpaceX owners is Donald Trump Jr, the president's oldest son. He owns a shares through 1789 Capital. That venture capital firm made him a partner shortly after his father won the presidency for a second time and has been buying up federal contractors seeking to win taxpayer money ever since.

The White House and Trump himself have repeatedly denied there are any conflicts of interest between his role as president and his family's businesses.

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