DivInc has announced a new program that will support BIPOC and women founders of social enterprise startups working on Web3 technology. Photo via divinc.org

A Texas accelerator that's focused on supporting traditionally marginalized entrepreneurs has announced its newest program.

DivInc has introduced DWeb for Social Impact Accelerator, a new program set to support BIPOC and women founders of social enterprise startups developing global solutions with DWeb and Web3 technologies — such as blockchain, crypto-asset, artificial intelligence, machine learning, augmented reality, and more.

The first cohort of the program, which is supported by the Filecoin Foundation for the Decentralized Web, or FFDW, will run from September through November at the Ion. Applications are open now.

"Through the DWeb for Social Impact Accelerator we are marrying activism with the decentralized web in a way that builds these startups and puts them at the forefront of solving society's toughest challenges," says Preston James, CEO at DivInc, in a news release. "We want to see our creative tech economy founders playing a major role in building and benefiting from DWeb and Web3 for the greater good. This partnership with FFDW is a huge leap forward in that pursuit."

The 12-week accelerator will support up to 10 companies, and, at the end of the program, each selected company will receive $10,000 in non-dilutive seed funding. In addition to FFDW, the program is supported by Houston Premier Partners, J.P. Morgan Chase & Co., Verizon, The Ion, and Mercury.

"A core part of FFDW's mission is education about the decentralized web," says Marta Belcher, president and chair of Filecoin Foundation for the Decentralized Web, in the release. "FFDW is absolutely thrilled to bring more diverse voices into the Web3 ecosystem."

The future of Web3, investing in Houston, and how founders need to be prepared for 2023 — Samantha Lewis of Mercury joins the Houston Innovators Podcast. Photo courtesy of Mercury

Houston investor shares what startup founders need to prioritize in 2023

houston innovators podcast Episode 165

Heading into the new year, startup founders in Houston and beyond need to focus on conserving and raising cash, says Samantha Lewis, principal of Houston-based venture capital firm Mercury.

“We all know it’s turbulent market times. We’re unsure where the market is going, and when there’s uncertainty in the public markets, that puts uncertainty in the private markets,” Lewis says on this week's episode of the Houston Innovators Podcast. “What I’ve been spending the past two quarters doing is working with our portfolio companies to just make sure our balance sheets are bulked up for what’s to come in 2023.”

She says Mercury's startup portfolio has focused on extending each company's runway financially through 2024 — and she recommends all startups to try to do the same. She advises on the show that even if a company raised funding within the past year, open on the same terms and valuation just to bridge the gap.

“In 2023, if things start to look up, great. But if things continue to be volatile, then we need to be prepared for it,” she says. “What we’re advising all of our startups to do is to get as much cash in the door right now as you can.”

She outlined a lot of this analysis in a report for Mercury looking back at the market in 2022. Lewis, who was named a member of the Class 27 of the Kauffman Fellows Program, a group of global innovation investors, factors in what she's experienced through the program at an international level.

Lewis is focused on what she calls the "power theme" at Mercury, which includes fintech, blockchain, web3, and more. She says these industries have been hit in particular within market uncertainty.

"Ultimately the companies that are now getting investment and see capital flow through them within Web3 are the ones that have been building a sustainable business from the beginning," she says. "And thinking about what are the real use cases that blockchain unlocks and how it adds economic value."

When it comes to VC activity, Lewis says 2023 has been plagued with "FOMO investing" — the fear of missing out on a buzzy new technology — and "hype projects." Investors were throwing money into Web3 technology that hadn't yet been vetted in a real way.

Mercury didn't do that, Lewis says. "We've been very disciplined about where we put dollars within Web3. We've done mostly infrastructure Web3, and the only thing we'll continue to do is infrastructure." She cites Topl, a Houston-founded blockchain network company, as an example.

On the podcast, she shares more about the tumultuous ride blockchain has had in 2022, and why she's still bullish on Web3 despite the bad actors within cryptocurrency. She also shares some of the things Mercury has been up to with its Houston-based portfolio and what's next for them.

Listen to the episode below, or wherever you get your podcasts — just search "Houston Innovators Podcast."


Topl's latest fundraising round includes participation from a Houston investor as well as international partners. Image via Getty Images

Houston-founded blockchain startup raises $15M series A to increase international impact

money moves

A blockchain technology company that was founded out of Rice University has closed its latest round of funding.

Founded in 2017, Topl is a blockchain-as-a-service company that's developing a purpose-built blockchain ecosystem to empower impact and sustainability within its userbase of businesses. The company's $15 million series A round was co-led by Houston-based Mercury, Republic Asia, and Malta-based Cryptology Asset Group.

“Topl’s blockchain was purpose built to power the next wave of supply chains and markets, that are more sustainable and inclusive,” says Chris Georgen, founder and managing director of Topl, in a news release. “Every decision we’ve made has been relentlessly focused on this problem and it’s exciting to see this approach yielding results with more than 30 different impact-forward use cases already live or approaching launch. Through this latest fundraise and with the strong network we’ve built, we’re looking to accelerate the growth of our ecosystem and setting a goal of at least 100 applications launched by next year.”

The company, which is now headquartered in Austin but still has a presence in Houston, has raised over $20 million in investment to date. Topl announced its $3 million seed round of funding — also led by Mercury — in 2020.

“Despite broader market dynamics across the Web3 sector, Topl’s strategic and early focus on users allowed the team to build an incredibly strong foundation that can weather cycles by providing an increasingly in-demand service to companies implementing various sustainable initiatives,” says Samantha Lewis, principal at Mercury, in the release. “We are excited to support Topl in this pivotal growth period.”

The round included two new international investors in Topl. Republic Asia is a newly launched arm of private investing platform Republic that is focused on fintech and web3 solutions. Houstonian Youngro Lee leads the division as executive vice president at Republic and head of Republic Asia and will join Topl's board to assist with international expansion.

“Sustainability and climate considerations are no longer mere luxuries, but an absolute necessity for companies to contribute to global finance and commerce,” Lee says in the release. “Topl will make it easier than ever for any organization around the world to harness the power of blockchain to track and monetize their positive environmental impact.”

Cryptology, with its European operations, also brings Topl key international presence.

"It's been an honor to see Topl progress from when it first entered Iconic Lab's accelerator program back in 2018 to where it is today," says Patrick Lowry, CEO of Cryptology, in the release. "Cryptology is hyper-focused on driving crypto adoption in an impact-focused, sustainable manner. We are proud to add Topl to our portfolio of companies and excitedly await Topl's network decentralization."

In addition to increasing its international impact, Topl will reportedly continue to build out its blockchain and technology. Per the release, Topl expects to launch a traceability platform for ethically and sustainably sourced products later this year.

Topl, which launched a grant program to fund Web3 startups and developers with inclusive and sustainable solutions, plans to announce its first 20 grant awards early next year. The grant recipients will also receive development, go-to-market, and fundraising support from Topl's team and network.

These two innovators have linked up for a new ESG offering. Photos courtesy

2 Houston blockchain companies connect on ESG initiative

team work

Two Houston-based startups specializing in blockchain technology have announced a collaborative within the Environmental, Social and Governance, or ESG, space.

Data Gumbo and Topl have partnered up to offer companies a private-public blockchain solution for ESG reporting. The collaborative solution, according to a news release, allows for public-facing, accurate, and immutable ESG progress reports that are accessible to outside audiences and stakeholders, including public analysts, investors, governments, and more.

"As companies today face mounting pressure to report timely and accurate ESG data, including performance and progress, they need the right tools to collect, standardize and automate reporting while preserving security for sensitive data," says Andrew Bruce, CEO and founder of Data Gumbo, in the release. "For the first time, this partnership offers companies total control of their accurate ESG data, allowing them to publish and report metrics in whatever manner best suits them satisfying investors', regulator agencies' and other stakeholders' desires."

The tool will gather business operation and transaction data and compare it to defined standards. This enables the complete review and certification of ESG metrics by auditors using GumboNet ESG. Once the environmental impact is determined, the company can easily share data recorded on Topl's public-facing blockchain.

"Companies can now comprehensively collect ESG data and report to private entities and public audiences," says Kim Raath, founder and CEO of Topl. "This partnership combines the power of our two complementary solutions to support a new level of transparency for companies that desire to showcase their fully verifiable progress on crucial ESG metrics."

Both companies have been players within the ESG space. Data Gumbo launched GumboNet ESG, a sustainability measurement solution that can pull together a company's operational data to ESG standards reporting, in March. Topl's blockchain-as-a-service offering rolled out just a few weeks later.

Siloed data, lack of consistency, and confusing regulations are all challenges blockchain can address. Photo via Getty Images

Houston expert: Blockchain is the key to unlocking transparency in the energy industry

guest column

Houston has earned its title as the Energy Transition Capital of the world, and now it has an opportunity to be a global leader of technology innovation when it comes to carbon emissions reporting. The oil and gas industry has set ambitious goals to reduce its carbon footprint, but the need for trustworthy emissions data to demonstrate progress is growing more apparent — and blockchain may hold the keys to enhanced transparency.

Despite oil and gas companies' eagerness to lower carbon dioxide emissions, current means of recording emissions cannot keep pace with goals for the future. Right now, the methods of tracking carbon emissions are inefficient, hugely expensive, and inaccurate. There is a critical need for oil and gas companies to understand and report their emission data, but the complexity of this endeavor presents a huge challenge, driven by several important factors.

Firstly, the supply chain is congested with many different data sources. This puts tracking initiatives into many different silos, making it a challenge for businesses to effectively organize their data. Secondly, the means of calculating, modeling, and measuring carbon emissions varies across the industry. This lack of consistency leaves companies struggling to standardize their outputs, complicating the record-keeping process. Finally, the regional patchwork of regulations and compliance standards is confusing and hard to manage, resulting in potential fines and the headaches associated with being found noncompliant.

Better tracking through blockchain

When it comes to tracking carbon emissions, the potential for blockchain is unmatched. Blockchain is an immutable ledger, that allows multiple parties to securely and transparently share data in near real time across the supply chain. Blockchain solutions could be there at every step of operations, helping businesses report their true emissions numbers in an accurate, secure way.

Oil and gas companies are ready to make these changes. Up to now, they've been using outdated practices, including manually entering data into spreadsheets. With operations spread across the world, there is simply no way to ensure that numbers have been accurately recorded at each and every point of action if everything is done manually. Any errors, even if they're accidental, are subject to pricey fines from regulatory agencies. This forces businesses into the costly position of overestimating their carbon emissions. Instead of risking fines, energy companies choose to deflate their carbon accomplishments, missing out on valuable remediation credits in the process. In addition, executives are forced to make decisions based on this distorted data which leaves projects with great potential to cut carbon emissions either underfunded or abandoned entirely.

In conversations with the super majors, they've reported that they have cut emission reduction estimates by as much as 50% to avoid over-reporting. This is anecdotal, but demonstrates a real problem that results in slower rates to meet targets, missed opportunities, and unnecessary expenditures.

There are so many opportunities to integrate blockchain into the energy industry but tackling the carbon output data crisis should come first. Emissions data is becoming more and more important, and oil and gas companies need effective ways to track their progress to drive success. It's essential to start at the bottom and manage this dilemma at the source. Using blockchain solutions would streamline this process, making data collection more reliable and efficient than ever before.

Houston is on the right track to lead the world in energy innovation — local businesses have made impressive, action-driven efforts to make sure that our community can rightfully be called the Energy Capital of the World. The city is in a great position to drive net-zero carbon initiatives worldwide, especially as sustainability becomes more and more important to our bottom lines. Still, to maintain this command, we need to continue to look forward. Making sure we have the best data is critical as the energy world transitions into the future. If Houston wants to continue to be a leader in energy innovation, we need to look at blockchain solutions to tackle the data problem head on.

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John Chappell is the director of energy business development at BlockApps.

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Venus Aerospace picks up investment from Lockheed Martin Ventures

space funding

Venus Aerospace, a Houston-based startup specializing in next-generation rocket engine propulsion, has received funding from Lockheed Martin Ventures, the investment arm of aerospace and defense contractor Lockheed Martin, for an undisclosed amount. The product lineup at Lockheed Martin includes rockets.

The investment follows Venus’ successful high-thrust test flight of its rotating detonation rocket engine (RDRE) in May. Venus says it’s the only company in the world that makes a flight-proven, high-thrust RDRE with a “clear path to scaled production.”

Venus says the Lockheed Martin Ventures investment reflects the potential of Venus’ dual-use technology for defense and commercial uses.

“Venus has proven in flight the most efficient rocket engine technology in history,” Venus co-founder and CEO Sassie Duggleby, a board member of the Texas Space Commission, said in a news release. “With support from Lockheed Martin Ventures, we will advance our capabilities to deliver at scale and deploy the engine that will power the next 50 years of defense, space, and commercial high-speed aviation.”

Chris Moran, executive director and general manager of Lockheed Martin Ventures, said Lockheed Martin has been a longtime supporter of early-stage “transformational” technologies.

“Our investment in Venus Aerospace reflects a conviction that next-generation propulsion will define which nations lead in space and defense for decades to come,” Moran added in the release. “We are committed to helping Venus scale this technology and integrate it into critical systems.”

Since its founding in 2020, Venus has secured more than $106 million in funding. In addition to Lockheed Martin Ventures, investors include Airbus Ventures, America’s Frontier Fund, Trousdale Ventures, and Prime Movers Lab. Supporters of Venus include NASA, the Air Force Research Lab and the Defense Advanced Research Projects Agency (DARPA).

8+ can't-miss Houston business and innovation events for November

where to be

Editor's note: Houston’s innovation calendar is packed this November, with opportunities to connect across climatetech, health care and entrepreneurship. From Greentown Labs’ flagship summit and veteran-led showcases to discussions on medical innovation and startup growth, here's what not to miss and how to register. Please note: this article may be updated to include additional event listings.

Nov. 4 – Greentown Climatetech Summit

Greentown Labs' Climatetech Summit Houston will bring together philanthropists, executives and innovators in the energy transition space. Expect to hear from John Arnold, co-founder and co-chair of Arnold Ventures, and Greentown CEO Georgina Campbell Flatter, who will participate in the day-long event’s keynote fireside chat, along with remarks from Houston Mayor John Whitmire, a course led by TEX-E Executive Director Sandy Guitar and more. Ten Greentown Labs startups will present pitches, and attendees will also be able to meet founders and Greentown members during the afternoon startup showcase.

This event is Tuesday, Nov. 4, from 8 a.m.-4:30 p.m. at Greentown Labs. A networking reception follows from 5-7:30 p.m. at Axelrad Houston. Learn more here.

Nov. 11 – Veterans & Visionaries

Houston Veteran Network will celebrate the entrepreneurial spirit of veterans at its Veterans & Visionaries event. Veteran business owners will have the opportunity to showcase their businesses, connect with investors and participate in speed networking.

This event is Tuesday, Nov. 11, from 2-7 p.m. at the Ion. Find more information here.

Nov. 12 – Energy Drone and Robotics Forum

The Energy Drone + Robotics Coalition will offer a chance for industry leaders, operators and engineers to connect. Attendees will explore real-world uses, hear lessons from successful deployments, and gain practical insights and tools for scaling through various workshops, keynote addresses, Q&As and more.

This event is Wednesday, Nov. 12, from 8 a.m.-5:30 p.m. at the Ion. A Bots & Brews / Industrial AI Connect Reception will be held at Second Daught from 5:30-7:30 p.m. Find more information here.

Nov. 12 – TMC Envision 2025: Showcasing Healthcare Innovation

Celebrate 10 years of TMC Innovation at Envision, which shines a light on how TMC’s health tech companies are shaping the future. The event will feature talks from TMC’s Devin Dunn, Jason Sakamoto and Tom Luby that will focus on hospital innovation, health care policies, Texas-specific funding and regulatory dynamics and more.

This event is Wednesday, Nov. 12, from 3:30-6:30 p.m. at TMC Innovation Factory. Find more information here.

Nov. 13 — 2025 Houston Innovation Awards

Join InnovationMap at Greentown Labs on Nov. 13 for the fifth annual Houston Innovation Awards. Our annual celebration of all things Houston innovation offers an exclusive opportunity to network with leaders in the innovation ecosystem and culminates in the awards ceremony, where this year's winners across 10 prestigious categories will be unveiled. Individual tickets and corporate 10-packs with reserved seating are still available.

This event is Thursday, Nov. 13 at 7 p.m. at Greentown Labs. Get your tickets here.

Nov. 13 – Houston Methodist Leadership Speaker series

Head to the Houston Methodist Tech Hub at Ion to hear the latest installment of the Houston Methodist Leadership Speaker Series. The month’s event will feature Dr. Shlomit Schaal, executive vice president and chief physician executive at Houston Methodist. She is also the president and CEO of the Houston Methodist Physician Organization. Schaal will focus on physician group innovation.

This event is Thursday, Nov. 13, from 4:45-6 p.m. at the Ion. Find more information here.

Nov. 18 – Rice Customer-based Strategy Symposium

Rice University’s Jones Graduate School of Business will present this recurring forum for exchanging innovative ideas on customer-centered strategy planning and execution. The symposium features peer-reviewed research from leading academics with industry trends and insights from executives. Hear from Jones School Dean Peter Rodriguez, Harris County Sheriff Ed Gonzalez, Laura Lopez, SVP of marketing, communications and public relations at Houston Methodist; Farid Virani, CEO of Prime Communications; and several Rice MBA graduates and executives.

This event is Tuesday, Nov. 18, 2025, from 7:30 a.m.-3:00 p.m. at the Ion. Learn more here.

Nov. 20 – Houston Startup Speedrun

Wade Pinder, founder of Product Houston, will host the Houston Startup Speedrun. This intensive and fast-paced program is designed to provide early-stage founders and aspiring entrepreneurs with a comprehensive understanding of the “Startup Founder's Journey” and the Houston startup ecosystem. The event is broken up into 10 consecutive 50-minute sessions, including topics such as “Creating a Compelling Business Plan,” “Operations and Scaling” and others.

This event is Thursday, Nov. 20, from 9 a.m.-7 p.m. at the Ion. Find more information here.

Nov. 20 – State of the Texas Medical Center

The Greater Houston Partnership will present the State of the Texas Medical Center. Hear from William F. McKeon, president and CEO of TMC, and GHP president and CEO Steve Kean as they discuss “the tremendous progress happening in health care delivery and life sciences in the world’s largest medical center.”

This event is Thursday, Nov. 20, from 4-6:30 p.m. at Helix Park. Find more information here.