Houston startup development organizations have banded together for the third annual Houston Innovation Summit. Getty Images

For the third year, The Houston Innovation Summit is taking over the town to promote entrepreneurship and innovation within the city.

THIS begins today and runs through the weekend. Each day represents a theme — all pertinent to Houston. Impact Hub Houston has worked with other local startup development organizations to curate the programming for the week. Grace Rodriguez, CEO and executive director for Impact Hub Houston, says Houston has the innovation infrastructure by now, and now it's about execution.

"For 2019, the goal is now how do we go from inclusion to integration," Rodriguez says on a recent episode of the Houston Innovators Podcast. "I think we're at that step now of becoming more inclusive as a community."

THIS, just like last year, runs on the same week of Global Entrepreneurship Week, which is why today's programming starts with a global focus. Follow along on a global scale with #GEWecosystems.

For a complete list of THIS events (most of which are free and all over town), head to the website. Here are the events you should make sure not to miss.

Monday — Houston: We're Global

Starting strong, the first can't-miss event is the kickoff party. The free event is in the Amegy Building downtown (1801 Main Street), which is currently being transformed into The Cannon Houston's new Launch Pad. The event runs from 4 to 5:45 pm, and you can expect networking and interactive discussions on Houston's innovation ecosystem's growth and potential. Click here to register.

Tuesday: This Is Houston

While GotSpot's Female Founder Luncheon at MassChallenge is a good one to make if you can, the big event this day is Houston Exponential's 2020 Vision event. Basically an open house-style event, attendees at this free event can learn how to engage with HX and what the organization has planned for 2020. InnovationMap and Accenture are teaming up for a fireside chat about the diversity and potential in Houston. Click here to register.

Wednesday: Fresh Perspectives

The fight for technology and innovation is on. The first Houston Digital Fight Club is on Wednesday, November 20, and will feature five fights between industry experts on topics like cybersecurity, sustainable energy, primary care, and more. Audience members get to decide on a winner, and there will be tons of opportunities for networking. The event is $30 per person and will be at White Oak Music Hall. InnovationMap and Accenture are the lead sponsors. Click here to register.

If you can't make this evening event, WeWork Food Labs is cooking up a special event to discuss food innovation in Houston. Click here to register.

Thursday: The Next Generation

While the week so far has been centered around the future of Houston, Thursday focuses specifically on the next generation of people who will be powering the ecosystem. And, of course, money is essential to that equation. Join for a panel from top investor leaders at an event focused on next generation investing at HCC SouthEast Felix Fraga Academic Campus - East End. The panel itself is $5, but for $15 you can also catch two other discussions on campus that day. Click here to register.

For an early bird alternative, Mercury Fund is hosting a Female Founders breakfast at 7:30 am at their office (3737 Buffalo Speedway, Suite 1750). This one is free to attend. Click here to register.

Friday: Integrating Innovation

Friday's events all take place at The Cannon Houston (1334 Brittmoore Road), and there's a specific focus on military technology and military-affiliated entrepreneurs. The Southwest Muster Across America Tour in Houston is from 1 to 6 pm and will consist of an expo, pitch competition, expert talks, and more. The WeWork Veterans in Residence Program Powered by Bunker Labs will show off their companies, and Bunker Labs has teamed up with Ford Fund to host pitch competitions for veteran and military spouse entrepreneurs. Houston is one of seven stops for the competition, and the top two showcase pitches will win $5,000 and $3,500 from the Ford Fund to help support their businesses. Click here to register.

Following this event is Impact Hub's monthly Fuckup Night, where entrepreneurs share their stories of success, struggle, and failure. Click here to register.

Weekend: Innovation Education

The week wraps up with events focusing on education. One not to miss is on Saturday: The HCC IDEAS Pitch Competition. The competition begins at 1 pm and there is $2,500 on the line. Any HCC student is able to apply to pitch. Click here to register.

Houston's seen the effect on climate change. Now, Impact Hub Houston is putting together a brainstorming event to find sustainable solutions. Getty Images

Houston organization to host a hackathon to find sustainable solutions to climate change

It's not easy being green

Houstonians are teaming up to put on a hackathon that will gather designers, developers, entrepreneurs, students, policymakers, and more to find sustainable solutions to climate change.

Impact Hub Houston is organizing Houston's fist Climathon for October 25. The local nonprofit is teaming up with global organizer EIT Climate-KIC, the City of Houston, Citizens' Environmental Coalition, Sketch City, January Advisors, Bunker Labs, WeWork Labs, Syzygy Plasmonics, and GoodFair.

"During Hurricane Harvey, we saw Houston's talent rise to these challenges and develop solutions that not only helped rescue, feed and shelter local Houstonians, but went on to help people in Florida and Puerto Rico," says Grace Rodriguez, CEO and executive director of Impact Hub Houston, in a news release. "We're excited to join the global Climathon challenge in order to give Houston's changemakers a platform to develop sustainable air, water, energy, etc., solutions and take them to the next level. In such a diverse city with so many resources, it seems only natural that Houston can help lead the way in developing local solutions that can scale to other contexts."

The city of Houston has seen its fair share of extreme weather as a result of climate change. The Energy Capital of the World among the highest per capita greenhouse gas emissions in the country, and mayor's office recently-announced Climate Action Plan to address the concerns of climate change.

"Houston has a lot to lose as the weather changes," says Jeff Reichman, founder of January Advisors and Sketch City, in the release. "We should be using our talents to elevate good ideas for our region, and to connect with one another for long-term collaborations."

The event will zero in on Houston's biggest emissions problems: transportation and commercial and residential buildings. The best ideas coming out of the Climathon will be sent to the international database for consideration for the global awards in Paris.

For more information and to register, view partnership opportunities, or sign up to volunteer, visit the website.

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

Houston VC funding surged in 2024, fueled by major Q4 activity

by the numbers

The venture capital haul for Houston-area startups jumped 23 percent from 2023 to 2024, according to the latest PitchBook-NVCA Venture Monitor.

The fundraising total for startups in the region climbed from $1.49 billion in 2023 to $1.83 billion in 2024, PitchBook-NVCA Venture Monitor data shows.

Roughly half of the 2024 sum, $914.3 million, came in the fourth quarter. By comparison, Houston-area startups collected $291.3 million in VC during the fourth quarter of 2023.

Among the Houston-area startups contributing to the impressive VC total in the fourth quarter of 2024 was geothermal energy startup Fervo Energy. PitchBook attributes $634 million in fourth-quarter VC to Fervo, with fulfillment services company Cart.com at $50 million, and chemical manufacturing platform Mstack and superconducting wire manufacturer MetOx International at $40 million each.

Across the country, VC deals total $209 billion in 2024, compared with $162.2 billion in 2023. Nearly half (46 percent) of all VC funding in North America last year went to AI startups, PitchBook says. PitchBook’s lead VC analyst for the U.S., Kyle Stanford, says that AI “continues to be the story of the market.”

PitchBook forecasts a “moderately positive” 2025 for venture capital in the U.S.

“That does not mean that challenges are gone. Flat and down rounds will likely continue at higher paces than the market is accustomed to. More companies will likely shut down or fall out of the venture funding cycle,” says PitchBook. “However, both of those expectations are holdovers from 2021.”

Justice Department sues to block Houston-based HPE's $14B buyout of Juniper

M&A News

The Justice Department sued to block Hewlett Packard Enterprise's $14 billion acquisition of rival Juniper Networks on Thursday, the first attempt to stop a merger by a new Trump administration that is expected to take a softer approach to mergers.

The Justice complaint alleges that Hewlett Packer Enterprise, under increased competitive pressure from the fast-rising Juniper, was forced to discount products and services and invest more in its own innovation, eventually leading the company to simply buy its rival.

The lawsuit said that the combination of businesses would eliminate competition, raise prices and reduce innovation.

HPE and Juniper issued a joint statement Thursday, saying the companies strongly oppose the DOJ's decision.

“We will vigorously defend against the Department of Justice’s overreaching interpretation of antitrust laws and will demonstrate how this transaction will provide customers with greater innovation and choice, positively change the dynamics in the networking market,” the companies said.

The combined company would create more competition, not less, the companies said.

The Justice Department's intervention — the first of the new administration and just 10 days after Donald Trump's inauguration — comes as somewhat of a surprise. Most predicted a second Trump administration to ease up on antitrust enforcement and be more receptive to mergers and deal-making after years of hypervigilance under former President Joe Biden’s watch.

Hewlett Packard Enterprise announced one year ago that it was buying Juniper Networks for $40 a share in a deal expected to double HPE’s networking business.

In its complaint, the government painted a picture of Hewlett Packard Enterprise as a company desperate to keep up with a smaller rival that was taking its business.

HPE salespeople were concerned about the “Juniper threat,” the complaint said, also alleging that one former executive told his team that “there are no rules in a street fight,” encouraging them to “kill” Juniper when competing for sales opportunities.

The Justice Department said that Hewlett Packard Enterprise and Juniper are the U.S.'s second- and third-largest providers of wireless local area network (WLAN) products and services for businesses.

“The proposed transaction between HPE and Juniper, if allowed to proceed, would further consolidate an already highly concentrated market — and leave U.S. enterprises facing two companies commanding over 70% of the market,” the complaint said, adding that Cisco Systems was the industry leader.

Many businesses and investors accused Biden regulatory agencies of antitrust overreach and were looking forward to a friendlier Trump administration.

Under Biden, the Federal Trade Commission sued to block a $24.6 billion merger between Kroger and Albertsons that would have been the largest grocery store merger in U.S. history. Two judges agreed with the FTC’s case, blocking the proposed deal in December.

In 2023, the Department of Justice, through the courts, forced American and JetBlue airlines to abandon their partnership in the northeast U.S., saying it would reduce competition and eventually cost consumers hundreds of millions of dollars a year. That partnership had the blessing of the Trump administration when it took effect in early 2021.

U.S. regulators also proposed last year to break up Google for maintaining an “abusive monopoly” through its market-dominate search engine, Chrome. Court hearings on Google’s punishment are scheduled to begin in April, with the judge aiming to issue a final decision before Labor Day. It’s unclear where the Trump administration stands on the case.

One merger that both Trump and Biden agreed shouldn’t go through is Nippon Steel’s proposed acquisition of U.S. Steel. Biden blocked the nearly $15 billion acquisition just before his term ended. The companies challenged that decision in a federal lawsuit early this year.

Trump has consistently voiced opposition to the deal, questioning why U.S. Steel would sell itself to a foreign company given the regime of new tariffs he has vowed.

Houston space company lands latest NASA deal to advance lunar logistics

To The Moon

Houston-based space exploration, infrastructure, and services company Intuitive Machines has secured about $2.5 million from NASA to study challenges related to carrying cargo on the company’s lunar lander and hauling cargo on the moon. The lander will be used for NASA’s Artemis missions to the moon and eventually to Mars.

“Intuitive Machines has been methodically working on executing lunar delivery, data transmission, and infrastructure service missions, making us uniquely positioned to provide strategies and concepts that may shape lunar logistics and mobility solutions for the Artemis generation,” Intuitive Machines CEO Steve Altemus says in a news release.

“We look forward to bringing our proven expertise together to deliver innovative solutions that establish capabilities on the [moon] and place deeper exploration within reach.”

Intuitive Machines will soon launch its lunar lander on a SpaceX Falcon 9 rocket to deliver NASA technology and science projects, along with commercial payloads, to the moon’s Mons Mouton plateau. Lift-off will happen at NASA’s Kennedy Space Center in Florida within a launch window that starts in late February. It’ll be the lander’s second trip to the moon.

In September, Intuitive Machines landed a deal with NASA that could be worth more than $4.8 billion.

Under the contract, Intuitive Machines will supply communication and navigation services for missions in the “near space” region, which extends from the earth’s surface to beyond the moon.

The five-year deal includes an option to add five years to the contract. The initial round of NASA funding runs through September 2029.