Founders, investors sound off on Houston's VC scene, energy innovation potential, and more

EAVESDROPPING in Houston

Hit the highlights of Venture Houston 2023 with these overheard moments from the event. Photo courtesy of HX Venture Fund

Last week, nearly 1,000 people convened in Houston to discuss venture capital activity, startups, and decarbonization, and the Houston factor among it all.

On September 7, Venture Houston hosted several keynote addresses and panels throughout the day's programming, and investors from across the country discussed with Houston-based startup and corporate leaders on topics from seed funding to cultivating an ecosystem.

The annual event, presented by HX Venture Fund, a fund of funds that deploys capital into VC funds with an interest in Houston, had one significant through line throughout the day, and it was Houston's role within innovation and the energy transition.

Whether you missed the event or were there to soak in every second, here's a roundup of key statements on this topic from the panelists.

“We mapped out Texas as a high priority because we knew you can’t do energy without Texas. You can’t do energy without Houston."

— Carmichael Roberts, investment committee co-lead for Breakthrough Ventures. "The opportunity that Houston has to be the unambiguous leader is because everywhere else can do energy transition, but they still can’t do what Houston does,” he continues.

“There’s no better place in the world than Houston to build and scale a climate tech startup.”

— Tim Latimer, CEO and co-founder of Fervo Energy. “But I don’t know if I’m ready to make the claim that we’re the best place to start a business,” he adds.

“Houston needs that first, higher-profile investor who’s Houston-based, Houston-first, and wants to put as much capital as possible into energy transition and climate tech companies.”

— Craig Wilson, managing director of NYU’s Tandon Future Labs. “Houston is blessed with an incredible amount of CVC and late stage capital," he continues. "What it really could use is early stage capital.”

“There are a couple aspects you need for an ecosystem, and Houston has been putting a lot of those in place, but it’s not perfect yet, and there’s still work that this ecosystem needs to do."

— Trevor Best, CEO and co-founder of Syzygy Plasmonics. Startups need talent, facilities, capital, and customers. “Here in Houston, for energy transition technologies, I don’t know if there’s an ecosystem that can check the box (for customers) stronger than Houston," he adds, explaining that talent is here too. Where Houston needs improvement, according to Best, is in facilities, which is seeing some progress, and capital development.

“I think Houston is actually the perfect place for becoming the energy transition capital. If you ask me, I think we already are.” 

— Andrea Course, venture principal of Shell Ventures. “It really just takes people doing what we’re doing now to make it even greater," she adds.

“We have to figure out ways for how big energy companies work with new technology providers in partnership and not say it’s a David versus Goliath thing.”

— Gaurab Chakrabarti, co-founder and CEO of Solugen. “That’s a philosophical misalignment,” he continues. “Instead of saying it’s an absolute problem, accept that it’s a transition.”

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Texas lands at No. 13 in WalletHub innovation study

innovative states

During a SXSW reception March 12 at the Governor’s Mansion in Austin, Gov. Greg Abbott hailed Texas as the No. 1 state for innovation. Personal finance website WalletHub doesn’t see it that way, though.

A new study from WalletHub assigns Texas a No. 13 ranking for innovation among the states and the District of Columbia. D.C. comes out on top, followed by Massachusetts, California, Colorado and Washington. Mississippi appears at the bottom of the list.

Texas earns an innovation score of 49.56, compared with 69.13 for top-ranked D.C. In two broad categories, Texas ranks 12th for human capital and 13th for innovation environment.

To identify the top places for innovation, WalletHub evaluated the 50 states and D.C. by reviewing 25 key indicators of innovation friendliness. The indicators include:

  • Share of STEM professionals.
  • Forecast for Share of STEM professionals
  • Forecast for STEM jobs
  • Eighth-grade math and science performance
  • Concentration of tech companies
  • R&D spending per capita
  • Share of science and engineering graduates age 25 and over
  • Average internet speed
  • Venture capital funding per capita

“The most innovative states are especially attractive to people who have majored in science, technology, engineering and math, or STEM, as they offer abundant career opportunities and investment dollars, both for jobs at existing companies and for startups,” WalletHub analyst Chip Lupo said in the report.

“These states also instill young students with the skills they need to succeed in the current workforce, skills which are useful whether or not they pursue a STEM career,” he added.

Texas zeroes in on semiconductor industry

On the innovation front, Abbott and other state leaders have focused intently on growing the state’s semiconductor industry, which generates roughly $30 billion to $60 billion in economic activity per year. Texas ranks among the top states for semiconductor manufacturing, with major operations in North Texas and Central Texas.

To bolster the industry, Abbott signed the Texas CHIPS Act into law in 2023. The law established the Texas Semiconductor Innovation Fund, which issues grants for semiconductor research, design and manufacturing, and the Texas Semiconductor Innovation Consortium, which advises the governor and state legislators on matters related to the semiconductor sector.

Among the consortium’s appointed representatives are:

  • Joe Elabd, vice chancellor for research at the Texas A&M University System
  • David Staack, deputy vice chancellor for research at the Texas A&M University System
  • Ramanan Krishnamoorti, vice president for energy and innovation at the University of Houston
  • Magesh Rajan, vice president for research and innovation at Prairie View A&M University

Semiconductor companies with a presence in the Houston area include chip manufacturer NVIDIA, which is building an AI supercomputer factory in Houston; Labtopia, a tech staffing firm that does business in the semiconductor sector; Microchip USA, a distributor of semiconductors and other electronic components that opened an office in Kingwood last year; and Infineon Technologies, which designs, develops, and manufactures semiconductors.

The Greater Houston Partnership touts the Houston area’s track record as an innovation hub.

“As a home to world-changing innovations and a talented labor pool, Houston has been an attractive region for innovation and startups across all key industries for years,” the partnership says, “and as a major player as a center of activity for the next generation of innovators and entrepreneurs.”

Houston fuels energy innovation

As for energy innovation in the Houston area, Abbott last month announced a 455-megawatt, $617 million natural gas plant that Houston-based NRG Energy is building at its Greens Bayou facility in north Harris County is now a designated project under the Texas Jobs, Energy, Technology, and Innovation (JETI) program. JETI offers economic incentives for qualifying projects.

The NRG plant is expected to begin generating power for the Electric Reliability Council of Texas (ERCOT) in 2028.

Other energy innovators in the Houston area include Chevron, ExxonMobil, Occidental’s 1PointFive subsidiary, Schneider Electric, Shell, AB Energy USA, Fervo Energy, Solugen and Syzygy Plasmonics.

One promising area for energy innovation in Houston is carbon capture, utilization, and sequestration (CCUS). A new study from the Houston Energy Transition Initiative (HETI) and Deloitte Consulting says the Houston area is positioned to take a leading role in the development of CCUS, thanks to the region’s chemical and refining industries, energy infrastructure, energy-heavy workforce and access to global markets.

“With supportive policy, continued innovation, and strong industry partnerships, we can accelerate [CCUS] deployment, create new low-carbon value chains, and ensure Houston remains at the forefront of the global energy transition,” said Jane Stricker, HETI’s executive director and senior vice president of energy transition.

Uber rolls out women-only ride preferences to Houston users

Women Preferences

Houston women riders and drivers can now be matched to other women on the Uber app. The ride-hailing giant has expanded its pilot program nationwide in response to customer safety concerns.

“When women riders and drivers told us they wanted more control over how they ride and earn, we listened,” wrote Uber in a blog post announcing the move. “That feedback led to Women Preferences, features designed to give women the choice to ride with other women. Since our first pilots last summer, we’ve heard just how much that choice matters — from feeling more comfortable in the back seat to more confident behind the wheel.”

According to Uber, passengers can request to be matched with a woman driver by requesting an on-demand ride, scheduling a trip in advance, or setting a preference within the ride app. If wait times are longer than anticipated, the rider can opt to be paired with a driver of any sex.

Uber says it began offering the rides in 2019, after women in Saudi Arabia gained the right to drive. Since then, it has rolled out the program in Europe, Latin America, Australia, and Africa — although in some countries, only drivers can make the match.

The move forward on Women Preferences comes despite a pair of lawsuits aimed at Uber and its main competitor, Lyft. According to Time reporting, the plaintiff’s lawyers argue that women-only rides unfairly limit the volume of rides for male drivers and reinforce gender stereotypes about men.

Lyft rolled out its similar program, Women + Connect, in 2023. The initiative is slightly more expansive than Uber’s preferences, allowing both women and nonbinary people to participate.

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This article originally appeared on CultureMap.com.

6 Houston entrepreneurs land on coveted Inc. Female Founders 500 list

the future is female

Six Houston female entrepreneurs and innovators were named to the 2026 Female Founders 500 list.

The annual list compiled by Inc. Magazine recognizes female founders based in the U.S. who have built businesses that have moved their industries forward. The group collectively generated approximately $12.3 billion in 2025 revenue and $12.2 billion in funding to date, according to Inc. Five Houstonians were named to the list last year.

"Each year, we are increasingly amazed by the extraordinary leaders on our Inc. Female Founders 500 list," Bonny Ghosh, editorial director at Inc., said in a news release. "The honorees on this year's list include innovators in AI, beauty and wellness trendsetters winning devoted fans, and nonprofit leaders making a real impact in their communities. Together, they're showing all of us what trailblazing female leadership looks like."

The Houston founders are:

  • Sassie Duggleby, CEO and co-founder of Houston space tech and engine company Venus Aerospace. Duggleby also serves on the Texas Space Commission board of directors.
  • Stephanie Murphy, CEO and executive chairman of Aegis Aerospace, which provides space services, spaceflight product development, and engineering services. Murphy also serves as chair of the Texas Aerospace Research and Space Economy Consortium Executive Committee.
  • Laureen Meroueh, CEO and founder of Hertha Metals, which has developed a cost-effective and energy-efficient process that converts low-grade iron ore of any format directly into molten steel or high-purity iron in a single step.
  • LaToshia Norwood, managing partner of L'Renee & Associates (LRA), a full-service project management consulting firm.
  • Lauren Rottet, president and founding principal of Rottet Studio, an international architecture and design firm focused on corporate, lifestyle and hospitality projects
  • Nina Magon, founder and CEO of Nina Magon Studio / Nina Magon Consumer Products, a residential and commercial interior design company. She also co-founded KA Residences earlier this year.

"Grateful to be recognized again on the Inc. Female Founders 500," Duggleby said in a LinkedIn post. "The best part of building Venus Aerospace has been working with an incredible team pushing the boundaries of flight—and helping bring more women into aerospace along the way.

Meroueh, whose company emerged from stealth last year, voiced a similar push for bringing more women into the fold.

"We've seen a 7x jump in female-led IPOs over the last decade, from just two in 2014 (less than 1% of all IPOs) to 14 in 2024 (nearly 9% of all IPOs). Progress is happening," Meroueh shared in a LinkedIn post. "Yet, less than 1% of venture funding in hard tech goes to female-founded companies. But as my friend Ana Kraft says, the right man for the job may be a woman."

Twenty-nine Texas female founders made this list, including Amber Venz Box, founder of the Dallas-based LTK shopping platform, and Cheryl Sew Hoy, CEO and founder of Austin-based Tiny Health, a fast-growing at-home microbiome health platform. See the full list of winners here.

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