TMC names 3 startups to Houston health tech accelerator

onboarding tech

These three health tech startups are moving on in TMCi's accelerator program. Photo courtesy of TMC

Thee Texas Medical Center named three companies to its accelerator program. The health tech startups will join the program and make key connections to grow their technology and business.

Texas Medical Center Innovation announced this year's cohort for the TMC Innovation Accelerator for HealthTech. The companies attended TMCi's boot camp earlier this year before being named to the cohort.

“It is always exciting to introduce a new group of talented entrepreneurs into our community,” says Tom Luby, director of TMC Innovation, in a news release. “Each with their own goals, and at their individual stage, we’ll work closely together to help them learn, grow and navigate this rich clinical landscape. We are honored to be the bridge between these innovators and the world’s largest medical city.”

The selected startups include Oxford, United Kingdom-based CardMedic, which joins the program by way of TMC's UK BioBridge, an international partnership established to bring cutting-edge health tech startups to the United States by way of Houston. The company's technology is a digital "One Stop Communication Shop" — an extensive library of pre-written scripts that help staff and patients communicate across any barrier, including language, deafness, cognitive impairment, or disability.

“The opportunity to connect with Texas Medical Center member institutions, understand their problem domain, and in what ways that may differ from the United Kingdom is invaluable. We are really excited about learning from the expert team of strategic advisors at the TMCi Accelerator about areas we needed to focus on to grow our company in the United States,” says Rachael Grimaldi, co-founder and CEO of CardMedic.

Chicago-based CareAdvisors, which helps hospitals and clinical social workers connect patients to the best resources and benefits to address social care needs, also joins the TMCi accelerator. The company's technology, the Social Care Automation tool, enables hospitals to generate revenue from preventive health programs and helps health plans reduce overutilization by putting the focus on preventive care.

Roboligent, based in Austin, designs and manufactures robotic and automated physical therapy exercises for patients with upper and lowers limb musculoskeletal issues. This robotic-assisted rehab help promotes recovery while increasing rehab centers’ operational efficiency.

“Introducing a new and innovative product, especially in the medical device field, is a thorough and collaborative effort,” says Bongsu Kim, founder and CEO of Roboligent, in a news release. “TMC’s HealthTech Accelerator is the perfect place to make connections with experts and stakeholders to help guide us in reaching our next milestone.”

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Texas Medical Center Innovation announced the seven health tech startups that joined the 2022 accelerator bootcamp. Photo courtesy of TMC

7 health tech startups flock to Houston for TMC bootcamp

ready to accelerate

The Texas Medical Center's innovation arm welcomed seven companies to its 2022 health tech accelerator program bootcamp.

TMC Innovation Accelerator for HealthTech is aimed at supporting early-stage life science startups through fundraising, connecting with mentors and potential customers, and more.

“Healthtech startups who connect with our network will emerge more prepared to access their customers and grow into their markets," says Emily Reiser, associate director of TMC Innovation, in a news release. "Our advisors, members, and partners unlock insights for these entrepreneurs about how to more effectively build a strategic plan for improved market access and adoption. Bootcamp ignites these connections, providing immediate value to entrepreneurs and enabling our team to define a long term plan for continued collaboration."

If selected following the bootcamp, founders will spend six months at TMCi with strategic mentorship, clinical validation, and other customized milestone development from the organization.

“Bootcamp is an intensive period of discovery and mutual selection," says Devin Dunn, head of the Accelerator for HealthTech, in the release. "Founders get a chance better understand everything that TMCi brings to bear and our team has the opportunity to select those growing companies that will add significant value to our community.”

The bootcamp focused on several innovation areas — including surgical devices, access to care, robotics, and hospital efficiency. The participating companies include:

  • CardMedic, headquartered in Oxford, United Kingdom, aims to improve communication between staff and patients across any barrier-language, deafness, cognitive impairment or disability-with an A to Z library of pre-written scripts replicating common clinical conversations.
  • Chicago-baseed CareAdvisors is connecting health plans, hospitals, and community-based organizations to streamline high risk case management and quickly close the loop on care.
  • Endolumik, founded in Morgantown, West Virginia, has developed a fluorescence-guided device that uses near-infrared light to enhance visualization for safer, faster, and more consistent bariatric surgery.
  • Orcha, based in Daresbury, United Kingdom, rigorously reviews apps to help systems, clinicians, patients, or consumers find their way to the best health-related apps.
  • Austin-based Roboligent has created a rehabilitation robot, the Optimo Regen, that provides evidence-based therapeutic interventions for upper and lower limbs.
  • Boston-founded ScienceIO's platform transforms unstructured text into structured records in real-time. The company's core product is a HIPAA-compliant API for real-time text processing and analytics.
  • Semantic Health, founded in Toronto, Canada, uses artificial intelligence to complete secondary reviews of all coded and claims data to optimize revenue cycle management.
The application for future cohorts and more information about the program are available online. The 2022 cohort will join the ranks of TMCi's community of 305 life science startups and 221 TMC Innovation Accelerator companies and will receive access to the center's dozens of member organizations.

"Having a product that the market truly needs is critical but not enough," says Bongsu Kim, founder and CEO of Roboligent, in the release. "Especially for the medical device market, I realize that introducing a new product is a thorough and collaborative effort from a variety of stakeholders and experts. Without knowing the mechanism and the right connection, it seems almost impossible to get into the market. The TMC Innovation Accelerator is the perfect place to make it happen."

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Houston space tech companies land $25 million from Texas commission

Out Of This World

Two Houston aerospace companies have collectively received $25 million in grants from the Texas Space Commission.

Starlab Space picked up a $15 million grant, and Intuitive Machines gained a $10 million grant, according to a Space Commission news release.

Starlab Space says the money will help it develop the Systems Integration Lab in Webster, which will feature two components — the main lab and a software verification facility. The integration lab will aid creation of Starlab’s commercial space station.

“To ensure the success of our future space missions, we are starting with state-of-the-art testing facilities that will include the closest approximation to the flight environment as possible and allow us to verify requirements and validate the design of the Starlab space station,” Starlab CEO Tim Kopra said in a news release.

Starlab’s grant comes on top of a $217.5 million award from NASA to help eventually transition activity from the soon-to-be-retired International Space Station to new commercial destinations.

Intuitive Machines is a space exploration, infrastructure and services company. Among its projects are a lunar lander designed to land on the moon and a lunar rover designed for astronauts to travel on the moon’s surface.

The grants come from the Space Commission’s Space Exploration and Aeronautics Research Fund, which recently awarded $47.7 million to Texas companies.

Other recipients were:

  • Cedar Park-based Firefly Aerospace, which received $8.2 million
  • Brownsville-based Space Exploration Technologies (SpaceX), which received $7.5 million
  • Van Horn-based Blue Origin, which received $7 million

Gwen Griffin, chair of the commission, says the grants “will support Texas companies as we grow commercial, military, and civil aerospace activity across the state.”

State lawmakers established the commission in 2023, along with the Texas Aerospace Research & Space Economy Consortium, to bolster the state’s space industry.

Houston experts: Can AI bridge the gap between tech ambitions and market realities?

guest column

Despite successful IPOs from the likes of Ibotta, Reddit and OneStream, 2024 hasn’t provided the influx of capital-raising opportunities that many late-stage tech startups and venture capitalists (VCs) have been waiting for. Since highs last seen in 2021—when 90 tech companies went public—the IPO market has been effectively frozen, with just five tech IPOs between January and September 2024.

As a result, limited partners have not been able to replenish investments and redeploy capital. This shifting investment landscape has VCs and tech leaders feeling stuck in a holding pattern. Tech leaders are hesitant to enter the public markets because valuations are down 30 percent to 40 percent from 2021, which is also making late-stage fundraising more challenging. After all, longer IPO timelines mean fewer exit opportunities for VCs and reduced capital from institutional investors who are turning toward shorter-term investments with more liquid exit options.

Of course, there’s always an exception. And in the case of a slowed IPO market, a select slice of tech companies—AI-related companies—are far outperforming others. While not every tech startup has AI software or infrastructure as their core offering, most can benefit from using AI to revise their playbook and become more attractive to investors.

Unlocking Growth Potential with AI

While overall tech startup investment has slowed, the AI sector burns bright. This presents an opportunity for companies that strategically leverage AI, not just as a buzzword but as a tool for genuine growth and differentiation. Imagine a future where AI-powered insights unlock unprecedented efficiency, customer engagement and a paradigm shift in value creation. This isn’t just about weathering the current storm of reduced access to capital; it’s about emerging stronger, ready to lead the next wave of tech innovation.

Here's how to navigate the AI frontier and unlock its potential:

  1. Understand that data is the foundation of AI success. AI is powerful, but it’s not magic. It thrives on high-quality, interconnected data. Before diving into AI initiatives, companies must assess their data health. Is it structured in a way that AI can understand? Does it go beyond raw numbers to capture context and meaning—like customer sentiment alongside sales figures? Rethinking data infrastructure is often the crucial first step.
  1. Focus on amplifying strengths, not reinventing the wheel. The allure of AI can tempt companies into pursuing radical reinvention. However, a more effective strategy is to leverage AI to enhance existing strengths and address core customer needs. Why do customers choose your company? How can AI supercharge your value proposition? Consider Reddit’s strategic approach: They didn’t overhaul their platform before their 2024 IPO. Instead, they showcased the value of their vast online communities as fertile ground for AI development, leading to a remarkable first-day stock surge of 48 percent.

  2. Use AI as a customer-centric force multiplier. Companies with a deep understanding of their customer base are primed for AI success. By integrating AI into the very core of their product or service—the reason customers choose them—they can create a decisive competitive advantage based on delivering tangible customer value.

From Incremental Gains to Transformative Growth

This practical, customer-centric approach has the potential to help companies generate immediate growth while laying the foundation for future reinvention. By leveraging AI to optimize operations, deepen customer relationships, and redefine industry paradigms, late-state tech startups can not only survive but thrive in a dynamic market. The future belongs to those who embrace AI not as a destination but as a continuous journey of innovation and growth.

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Hong Ogle is the president of Bank of America Houston. Rodrigo Ortiz Gomez is a market executive in Bank of America’s Transformative Technology Banking Group as well as the national software banking lead for the Global Commercial Bank.

Houston joint venture secures $5.2M for AI-powered methane tracking tech

Fresh Funds

Houston-based Envana Software Solutions has received more than $5.2 million in federal and non-federal funding to support the development of technology for the oil and gas sector to monitor and reduce methane emissions.

Thanks to the work backed by the new funding, Envana says its suite of emissions management software will become the industry's first technology to allow an oil and gas company to obtain a full inventory of greenhouse gases.

The funding comes from a more than $4.2 million grant from the U.S. Department of Energy (DOE) and more than $1 million in non-federal funding.

“Methane is many times more potent than carbon dioxide and is responsible for approximately one-third of the warming from greenhouse gases occurring today,” Brad Crabtree, assistant secretary at DOE, said in 2024.

With the funding, Envana will expand artificial intelligence (AI) and physics-based models to help detect and track methane emissions at oil and gas facilities.

“We’re excited to strengthen our position as a leader in emissions and carbon management by integrating critical scientific and operational capabilities. These advancements will empower operators to achieve their methane mitigation targets, fulfill their sustainability objectives, and uphold their ESG commitments with greater efficiency and impact,” says Nagaraj Srinivasan, co-lead director of Envana.

In conjunction with this newly funded project, Envana will team up with universities and industry associations in Texas to:

  • Advance work on the mitigation of methane emissions
  • Set up internship programs
  • Boost workforce development
  • Promote environmental causes

Envana, a software-as-a-service (SaaS) startup, provides emissions management technology to forecast, track, measure and report industrial data for greenhouse gas emissions.

Founded in 2023, Envana is a joint venture between Houston-based Halliburton, a provider of products and services for the energy industry, and New York City-based Siguler Guff, a private equity firm. Siguler Gulf maintains an office in Houston.

“Envana provides breakthrough SaaS emissions management solutions and is the latest example of how innovation adds to sustainability in the oil and gas industry,” Rami Yassine, a senior vice president at Halliburton, said when the joint venture was announced.

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This story originally appeared on our sister site, EnergyCapitalHTX.com

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