8 Houston companies earn spots among Fortune's most innovative for 2025

top honor

Health care companies dominated Fortune's America’s Most Innovative Companies report for 2025, with Houston’s top-rated company on the list falling into that sector. Photo via Getty Images

Eight Houston companies have been named to Fortune’s third annual list of America’s Most Innovative Companies, joining another 16 from the state of Texas.

The group of 300 companies nationwide was rated based on production innovation, process innovation, and innovation culture, according to Fortune. In partnership with Statista, the magazine considered IP portfolios, employee, expert and customer opinions; and many other factors.

While many of the top-rated companies fell into the tech sector, Fortune reports that health care companies made up the largest portion of the 2025 list. Sixty-three honorees fell into the health care category, including Houston’s top-rated company, Houston Methodist.

Here’s which Houston companies made the list and where they ranked:

  • No. 35 — Houston Methodist
  • No. 54. — ExxonMobil
  • No. 137 — NRG Energy
  • No. 158 — Hewlett-Packard Enterprise
  • No. 169 — BMC Software
  • No. 175 — Texas Children’s Hospital
  • No. 227 — Sysco
  • No. 268 — Chevron

“This award is a true credit to the culture we have created around innovation and the incredible work of Roberta Schwartz, our Chief Innovation Officer, and her team at the Center for Innovation,” Marc Boom, CEO of Houston Methodist, said in a LinkedIn post. “They have really set the tone for how we can use innovation and technology to continue to deliver the highest quality care for our patients.”

Dallas-Fort Worth claimed the largest number of Texas companies on the list, with 11 headquartered in the metroplex. Houston was home to the second-most with eight hailing from the Bayou City. Austin is home to only four of the companies on the list, however, companies from the Capital City ranked higher on average, with Oracle, Tesla and Dell Technologies claiming the top three spots for the state. Beloved Texas grocer H-E-B was the one company to represent San Antonio.

Here's how the other Texas companies fared:

  • No. 6 — Oracle
  • No. 11 — Tesla
  • No. 14 — Dell Technologies
  • No. 37 — AT&T
  • No. 59 — Texas Instruments
  • No. 89 — Charles Schwab
  • No. 91 — McKesson
  • No. 113 — Jacobs Solutions
  • No. 125 — Baylor, Scott & White Health
  • No. 165 — Frontier Communications
  • No. 201— H-E-B
  • No. 210 — CBRE Group
  • No. 219 — TTEC Holdings
  • No. 223 — GameStop
  • No. 251 — American Airlines Group
  • No. 271 — Caterpillar

California-based tech conglomerate Alphabet Inc. topped the list for the third year in a row, and California companies again represented the majority of companies on the list, according to Fortune. Alphabet, Microsoft, Apple, IBM and Salesforce made up the top five, of which three are headquartered in California.

The 2025 group had a median revenue of $22 billion over the last 12 months, according to Fortune. See the full report here.

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Tilman's Fertitta Entertainment is one of the largest privately owned businesses in America. Photo by J. Thomas Ford

4 Houston firms land on Forbes’ list of America’s largest private companies

BIG BIZ IN H-TOWN

Some Houston-area companies have some major bragging rights. Forbes has released its new list of the country’s largest privately owned companies based on annual revenue, and five local firms land on the list. They are:

  • Car dealership group Gulf States Toyota, No. 45, $8.3 billion in annual revenue.
  • Energy company Calpine, No. 48, $8 billion in annual revenue.
  • Petroleum and petrochemical products marketer Tauber Oil, No. 61, $6.7 billion in annual revenue.
  • Casino, restaurant, and sports conglomerate Fertitta Entertainment, No. 166, $2.8 billion in annual revenue.
  • BMC Software, No. 219, $2.1 billion in annual revenue.

Elsewhere in Texas, San Antonio-based H-E-B ranks fifth on Forbes’ new list of the country’s largest privately owned companies based on annual revenue. According to Forbes, the grocery chain’s annual revenue is $32.8 billion, making it the largest private company in Texas. On its website, H-E-B reports annual sales of $32 billion.

The only other San Antonio company on the Forbes list is construction engineering company Zachry Group. It ranks 225th, with annual revenue of $2 billion.

Nearly all of the other Texas companies in the Forbes ranking are based in the Houston and Dallas-Fort Worth and Houston areas. As well as the five Houston companies, 13 DFW companies companies show up on the list:

  • Grand Prairie-based alcohol and wine distributor Republic National Distributing, No. 25, $11.9 billion in annual revenue.
  • Dallas-based conglomerate Sammons Enterprises, No. 70, $5.8 billion in annual revenue.
  • McKinney-based roofing distributor SRS Distribution, No. 80, $5.4 billion in annual revenue.
  • Irving-based arts-and-crafts retailer Michaels, No. 81, $5.3 billion in annual revenue.
  • Dallas-based luxury retailer Neiman Marcus, No. 101, $4.7 billion in annual revenue.
  • Irving-based electrical systems and equipment maker Consolidated Electrical Distributors, No. 103, $4.6 billion in annual revenue.
  • Fort Worth-based food and beverage distributor Ben E. Keith, No. 107, $4.2 billion in annual revenue.
  • Dallas-based oil and gas explorer Hunt Consolidated, No. 113, $4 billion in annual revenue.
  • Frisco-based transportation and logistics software provider Transplace, No. 127, $3.6 billion in annual revenue.
  • Addison-based cosmetics retailer Mary Kay, No. 164, $2.8 billion in annual revenue.
  • Plano-based senior healthcare provider Golden Living, No. 178, $2.6 billion in annual revenue.
  • Dallas-based general contractor Austin Industries, No. 217, $2.1 billion in annual revenue.
  • Dallas-based transportation and logistics company Mode Transportation, No. 220, $2.1 billion in annual revenue.

One other company on the Forbes list, New Jersey-based IT company SHI International Corp., has a strong connection to Texas. Austin billionaire Thai Lee, with a net worth estimated at $4.1 billion, is co-founder, president, and CEO of SHI. The company ranks 28th on the Forbes list, with annual revenue of $11.1 billion.

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This article originally ran on CultureMap.

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Houston aerospace co. soars with first U.S. test flight of hypersonic engine

taking off

Houston-based Venus Aerospace successfully completed the first U.S. flight test of its proprietary engine at a demonstration at Spaceport America in New Mexico.

Venus’ next-generation rotating detonation rocket engine (RDRE) is supported by a $155,908 federal Small Business Innovation Research (SBIR) grant from NASA and aims to enable vehicles to travel four to six times the speed of sound from a conventional runway. The recent flight test was the first of an American-developed engine of its kind.

"With this flight test, Venus Aerospace is transforming a decades-old engineering challenge into an operational reality,” Thomas d'Halluin, managing partner at Airbus Ventures, an investor in Venus, said in a news release. “Getting a rotating detonation engine integrated, launch-ready, and validated under real conditions is no small feat. Venus has shown an extraordinary ability to translate deep technical insight into hardware progress, and we're proud to support their bold approach in their attempt to unlock the hypersonic economy and forge the future of propulsion."

Venus’ RDRE operates through supersonic shockwaves, called detonations, that generate more power with less fuel. It is designed to be affordable and scalable for defense and commercial systems.

The RDRE is also engineered to work with the company's air-breathing detonation ramjet, the VDR2, which helps enable aircraft to take off from a runway and transition to speeds exceeding Mach 6. Venus plans for full-scale propulsion testing and vehicle integration of this system. Venus’ ultimate goal is to develop a Mach 4 reusable passenger aircraft, known as the Stargazer M4.

"This milestone proves our engine works outside the lab, under real flight conditions," Andrew Duggleby, Venus co-founder and chief technology officer, said in the release. "Rotating detonation has been a long-sought gain in performance. Venus' RDRE solved the last but critical steps to harness the theoretical benefits of pressure gain combustion. We've built an engine that not only runs, but runs reliably and efficiently—and that's what makes it scalable. This is the foundation we need that, combined with a ramjet, completes the system from take-off to sustained hypersonic flight."

The hypersonic market is projected to surpass $12 billion by 2030, according to Venus.

"This is the moment we've been working toward for five years," Sassie Duggleby, CEO and co-founder of Venus Aerospace, added in the release. "We've proven that this technology works—not just in simulations or the lab, but in the air. With this milestone, we're one step closer to making high-speed flight accessible, affordable, and sustainable."

Houston-founded startup raises $1.2M and moves headquarters to Detroit

moving forward

Houston-founded ChurchSpace, known as the Airbnb for churches, has formed an official partnership with the City of Detroit and will relocate its headquarters.

The announcements come as the company successfully closed a $1.2 million oversubscribed funding round. The round was led by California-based Black Ops Ventures, with participation from Michigan Rise and Dug Song of Minor Capital, who is also the founder of the Song Foundation, another Michigan-based organization.

"This raise is more than a business milestone—it's a testament to what happens when strategy meets faith. In today's climate, raising capital takes grit and resilience—especially without deep networks or traditional access. By God's grace, doors have opened, and our mission is clearer than ever. Now, with capital in hand, we're building boldly toward a future where the Church isn't just surviving—but leading community transformation," Emmanuel Brown, co-founder and CEO of ChurchSpace, said in a statement.

In Detroit, ChurchSpace plans to activate underutilized church campuses as micro-logistics spaces for food distribution and retail partnerships, as well as last-mile delivery centers. To kick off its relocation, ChurchSpace will host a Detroit Pastor Meetup on July 19.

"We welcome ChurchSpace's investment in Detroit and the jobs and innovation it will bring," Detroit Mayor Mike Duggan added in the release. "Our faith community has long been a critical backbone of our neighborhoods. Through ChurchSpace's groundbreaking work, they will continue to be anchors of opportunity and resilience in our city's future."

ChurchSpace was originally founded to convert underutilized church real estate into event, meeting and commercial kitchen space to boost revenue and relieve financial burden while remaining compliant with IRS regulations for non-profits. The company participated in the inaugural cohort of the AWS Impact Accelerator for Black Founders, which included a pre-seed fundraising campaign and a $125,000 equity injection from Amazon in 2022. It was also one of two Houston companies to receive $100,000 as part of the Google for Startups Black Founders Fund that same year.

The company reports that its platform in Texas has generated up to $100,000 annually in new revenue that was reinvested into church ministries, food programs and community initiatives.

"What we built in Houston was more than technology—it was transformation. We expanded our purpose and packaged proven strategies to help churches thrive, transform communities, and even combat food insecurity," Day Edwards, co-founder and president of ChurchSpace, added in the statement. "Now, with prayer and the support of our team and investors, we're bringing that same impact to Detroit—to help churches, communities, and small businesses redefine pulpits and rediscover communal possibilities."

Houston space tech co. lands millions and more innovation news to know

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Editor's note: It's time to recap the top innovation news for the first half of May 2025. Our five most-read stories from May 1-15 include updates from Intuitive Machines and The Ion. Plus, driverless trucks hit the road from Houston to Dallas. Get all of the details below.

1. Houston space tech leader lands up to $10 million for Earth re-entry vehicle and lab

The Texas Space Commission has selected Houston's Intuitive Machines to develop a vehicle that will return lunar samples to Earth, along with an orbital fabrication lab. Photo courtesy Intuitive Machines.

Houston-based space technology, infrastructure, and services company Intuitive Machines has been awarded a state grant of up to $10 million to help develop an Earth re-entry vehicle and in-space biomanufacturing lab. The Texas Space Commission approved the grant, which is coming from the state’s Space Exploration and Research Fund. Intuitive Machines says the money will support its “critical risk-reduction platform” for returning lunar samples to Earth. The funding will go toward an early 12-month phase of the project. Continue reading.

2. 9 can't-miss Houston business and innovation events for May

Don't miss these May events — from an investor activation series to a crawfish cook-off. Photo courtesy Greentown Labs.

There's a lot to learn this month at events around Houston. Hear from AI and energy experts or gain insights into how to tap into funding at informative panels or sessions. Continue reading.

3. Autonomous truck company rolls out driverless Houston-Dallas route

Aurora began regular driverless deliveries between Houston and Dallas on April 27. Photo courtesy Aurora.

Houston is helping drive the evolution of self-driving freight trucks. In October, Aurora opened a more than 90,000-square-foot terminal at a Fallbrook Drive logistics hub in northwest Houston to support the launch of its first “lane” for driverless trucks—a Houston-to-Dallas route on the Interstate 45 corridor. Aurora opened its Dallas-area terminal in April and the company began regular driverless customer deliveries between the two Texas cities on April 27. Continue reading.

4. Texas-based 'DoorDash for laundry' startup tumbles into Houston market

The service has been a smash success in Austin. Courtesy photo

Laundry may seem like an endless task that piles up, but a new service offers a solution to overwhelmed Houston families. NoScrubs, an Austin-based home laundry pickup service has just expanded to Houston. Described by the company as "DoorDash — but for laundry," they wash customer's clothes at local laundromats and return them the same day, folded and ready to be put away. The service took off like gangbusters in Austin, making an expansion to the state's largest city an obvious choice. Continue reading.

5. New energy innovation and coworking spaces open at the Ion

The Oxy Innovation Center has opened at the Ion and Industrious' coworking space launches soon. Photo courtesy of The Ion

Houston-based Occidental officially opened its new Oxy Innovation Center with a ribbon cutting at the Ion. The opening reflects Oxy and the Ion's "shared commitment to advancing technology and accelerating a lower-carbon future," according to an announcement from the Ion. Oxy, which was named a corporate partner of the Ion in 2023, now has nearly 6,500 square feet on the fourth floor of the Ion. Rice University and the Rice Real Estate Company announced the lease of the additional space last year, along with agreements with Fathom Fund and Activate. Continue reading.

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