Houston energy tech accelerator names 3 startups, announces first out-of-state pitch day

onboarding biz

Halliburton Labs has added three energy tech startups to its program. Photo via Getty Images

Halliburton Labs has announced its latest cohort — and revealed details about its next pitch day.

The program, housed at Halliburton's facilities in Houston, added FuelX, LiNa Energy, and Solaires Entreprises to the clean energy accelerator. The companies will receive support from mentors from within Halliburton's workforce and network, as well as go through the accelerator's programming.

“We’re excited to support FuelX, LiNa Energy, and Solaires with the tools they need to achieve their goals,” says Halliburton Labs Managing Director Dale Winger in a news release. “Each participant company receives customized support to enable efficient use of their time and capital by engaging Halliburton’s scaling experience and capabilities.”

The next Halliburton Labs will not take place in Houston. The program is going on the road to host its next Halliburton Labs Finalists Pitch Day on Thursday, September 21, in Denver. The event will be a part of the inaugural Energy Tech Day at Denver Startup Week and will include pitches from innovative, early-stage energy tech companies.

FuelX

FuelX, which has a production plant in the Houston area, manufactures hydrogen storage materials and fuel cell power systems with alane solid state hydrogen fuel.

“Participation in the Halliburton Labs program accelerates our ability to scale to meet existing military and commercial project milestones,” says Greg Jarvie, co-founder and CEO of FuelX.

LiNa Energy

Headquartered in Lancaster, England, LiNa Energy develops and provides low-cost, solid-state sodium batteries.

"LiNa is delighted to be selected for Halliburton Labs – the support and investment will accelerate LiNa's growth on a scale found only in the energy industry,” says Chief Commercial Officer Will Tope. “Halliburton Labs is a cornerstone of our strategy, as we scale up manufacturing to deliver bigger energy storage systems to our partners around the world."

Solaires Entreprises

Solaires Entreprises, based in Victoria, British Columbia, is developing lightweight, flexible, efficient, and transparent solar cells.

“Our company is purpose-driven toward what our technology can achieve: a more affordable and reliable alternative within solar energy and photovoltaics and where renewables become a bigger portion of the world power mix,” says Solaires Co-founder and Chief Science Officer Sahar Sam.

Proxima Clinical Research has announced an office expansion — and more Houston innovation news. Photo via Twitter

Med tech firm expands footprint, Houston innovator assumes new role, and more local innovation news

short stories

Houston's innovation ecosystem has had some big news this month, from new job titles for Houston innovators to expanding office space.

In this roundup of Houston startup and innovation news, a Houston organization expands its footprint in the TMC, Rice University opens applications for a cleantech accelerator, and more.

Organization expands footprint in Houston

Proxima CRO has announced its expansion within TMCi. Photo via Twitter

Proxima Clinical Research, a contract research organization headquartered in Houston, announced that it is expanding its office space in the Texas Medical Center Innovation Factory.

"Texas Medical Center is synonymous with innovation, and the TMC Innovation space has proven an ideal location for our CRO. It's an important part of our origin story and a big part of our success," says Kevin Coker, CEO and co-founder of Proxima CRO, in a news release.

The expansion will include around 7,500-square feet of additional office space.

"The resources found across TMC's campuses allow for companies such as Proxima Clinical Research to achieve clinical and business milestones that will continue to shape the future of life sciences both regionally and globally. We are excited for Proxima to expand their footprint at TMC Innovation Factory as they further services for their MedTech customers," says Tom Luby, director of TMC Innovation, in the release.

$20M grant fuels hardtech program's expansion

Activate is planting its roots in Houston with a plan to have its first set of fellows next year. Photo via Activate.org

A hardtech-focused nonprofit officially announced its Houston expansion this week. Activate, which InnovationMap reported was setting up its fifth program here last month, received a $20M commitment by the National Science Foundation to fuel its entrance into the Bayou City.

“Houston’s diversity offers great promise in expanding access for the next generation of science entrepreneurs and as a center of innovation for advanced energy," says NSF SBIR/STTR program director Ben Schrag in a news release.

The organization was founded in Berkeley, California, in 2015 to bridge the gap between the federal and public sectors to deploy capital and resources into the innovators creating transformative products. The nonprofit expanded its programs to Boston and New York before launching a virtual fellowship program — Activate Anywhere, which is for scientists 50 or more miles outside one of the three hubs.

“We are delighted to be opening our newest Activate community in Houston,” says Activate Anywhere managing director Hannah Murnen, speaking at the annual Advanced Research Projects Agency-Energy Innovation Summit. “Houston is a city where innovation thrives, with an abundance of talent, capital, and infrastructure—the perfect setting for the Activate Fellowship.”

Activate is still looking its Houston’s first managing director is actively underway and will select fellows for Activate Houston in 2024.

TMC names new entrepreneur in residence

Zaffer Syed has assumed a new role at TMC. Photo via TMC.org

Houston health tech innovator has announced that he has joined the Texas Medical Center's Innovation Factory as entrepreneur in residence for medtech. Zaffer Syed assumed the new role this month, according to his LinkedIn, and he's been an adviser for the organization since 2017.

Syed has held a few leadership roles at Saranas Inc., a medical device company founded in Houston to detect internal bleeding following medical procedures. He now serves as adviser for the company.

"As CEO of Saranas, he led the recapitalization of the company that led to the FDA De Novo classification and commercial launch of a novel real-time internal bleed monitoring system for endovascular procedures," reads the TMC website. "Zaffer oversaw clinical development, regulatory affairs and strategic marketing at OrthoAccel Technologies, a private dental device startup focused on accelerating tooth movement in patients undergoing orthodontic treatment.

"Prior to working in startup ventures, Zaffer spent the first 13 years of his career in various operational roles at St. Jude Medical and Boston Scientific to support the development and commercialization of Class III implantable devices for cardiovascular and neuromodulation applications."

TMC is currently looking for an entrepreneur in residence for its TMCi Accelerator for Cancer Therapeutics program.

Applications open for clean energy startup program

Calling all clean energy startups. Photo courtesy of The Ion

The Clean Energy Accelerator, an energy transition accelerator housed at the Ion and run by the Rice Alliance for Technology and Entrepreneurship, has opened applications for Class 3. The deadline to apply is April 14.

The accelerator, which helps early-stage ventures reach technical and commercial milestones through hybrid programming and mentorship, will host its Class 3 cohort from July 25 to Sept. 22.

“Accelerating the transition to a net-zero future is a key goal at Rice University. Through accelerating the commercial potential of our own research as well as supporting the further adoption of global technologies right here in Houston, the Rice Alliance Clean Energy Accelerator is proof of that commitment,” says Paul Cherukuri, vice president of innovation at Rice, in a news release. “The Rice Alliance has all the critical components early-stage energy ventures need for success: a corporate innovation network, energy investor network, access to mentors and a well-developed curriculum. This accelerator program is a unique opportunity for energy startups to successfully launch and build their ventures and get access to the Houston energy ecosystem.”

According to Rice, the 29 alumni companies from Class 1 and 2 have gone on to secure grants, partnerships, and investments, including more than $75 million in funding. Companies can apply here, learn more about the accelerator here or attend the virtual information session April 3 by registering here.

DivInc is bringing another new accelerator program to Houston — this one is focused on clean energy. Photo via DivInc.com

Chevron, Microsoft back Houston-based clean energy program for BIPOC and female founders

ready to grow

A Texas-based accelerator is bringing its third diversity-focused program to Houston.

DivInc, a startup accelerator originating in Austin and established for people of color and women entrepreneurs, has announced that the title sponsors for the inaugural Clean Energy Accelerator are Chevron and Microsoft. The new program will join DivInc's existing accelerators — Women in Tech and Sports Tech — at the Ion.

"With Houston known as the energy capital of the world, DivInc has the opportunity to provide a pipeline of women, black, and latino-led high-growth, high-impact startups focused on clean energy," says Ashley DeWalt, DivInc Houston's managing director, in a news release. "We see this initiative ultimately driving a more diverse, equitable, and inclusive ecosystem within this clean energy transition sector for generations to come."

Applications for the Spring 2023 Clean Energy Accelerator are due today, February 10, according to the website. Startups accepted into the program should be led by BIPOC and women founders committed to working 10 to 15 hours per week during the 12 week program, which will start April 10.

The founders should be "working to shift the energy sector in the areas of clean energy production, energy storage and transmission, energy efficiency, carbon economy, and sustainable cities," per the release. In addition to the two title sponsors, the new program is also supported by Houston Premier Partners, J.P. Morgan Chase & Co., Verizon, The Ion, and Mercury.

"With a booming startup industry, a commitment to innovation, and a diverse workforce, Houston and organizations like DivInc are poised to play a vital leadership role and operate as a powerful force for energy progress," says Jim Gable, president of Chevron Technology Ventures, in the release.

The cohort, which will accept up to 10 companies, will work one-on-one with both the Microsoft and Chevron teams, as well as have access to DivInc's network of mentors and curriculum. Once the selected companies have completed the program, they will each receive $10,000 in non-dilutive seed funding.

"We are committed to enabling organizations in the clean energy transition while mindful of millions still without access to energy," said Darryl Willis, Corporate Vice President, Energy Industry at Microsoft. "This collaboration with DivInc and Chevron to support underserved entrepreneurs advancing the world's clean energy needs speaks to this climate commitment as well as diversity, equity and inclusion."

The Rice Alliance has named its second annual cohort. Photo via Getty Images

5 Houston energy tech companies named to Rice accelerator

seeing green

The Rice Alliance for Technology and Entrepreneurship has announced the 17 companies joining its second accelerator — and the program didn't have to venture very far for some of them.

The Rice Alliance Clean Energy Accelerator named the early- to mid-stage startups that will participate in its second annual class — five of which are based in Houston:

  • CLS Wind is developing a unique system to lift any size wind turbine component to any height using smaller-capacity cranes, an efficient, safe and economical solution to a lack of available high-capacity cranes and vessels.
  • Dsider is developing a low code solution for climate minded organizations to visualize and analyze their carbon pathways to plan, prioritize and operate sustainably and economically.
  • Emission Critical is developing carbon accounting and management software as a service to help enterprises solve end-to-end carbon footprinting with minimum effort
  • NanoTech is developing advanced materials to help businesses and individuals solve fireproofing and thermal insulation challenges with new world particles.
  • Pressure Corp is developing waste pressure power systems to help midstream gas companies solve how they reduce emissions by providing the technology, capital and expertise required to achieve their environmental, social and governance goals.

The 10-week program kicks off at the university’s Rice Alliance Energy Tech Venture Forum in September, and concludes on Demo Day on Nov. 17. While mostly virtual, the program will welcome the complete cohort to Houston three times throughout the accelerator.

The full cohort of companies — which come from seven states and four countries — has already collectively raised more than $54.5 million. Over the 10 weeks, the companies will receive support and mentorship to help them raise funding, launch pilots, win adoption into the marketplace, and more.

The 2022 cohort specializes across the spectrum of clean energy, including advanced materials, digital technology for energy, energy efficiency, energy storage, geothermal energy, hydrogen, waste heat to power, wave energy, and wind energy. The rest of the cohort includes:

  • Atargis Energy, based in Colorado, is developing an innovative twin hydrofoil-based wave energy converter technology combined with a proprietary feedback control system that combines real-time sensors, predictive algorithms and machine learning to make possible the first predictable, low-cost, utility-scale baseload electricity sourced from ocean waves for utilities and other electricity providers.
  • Based in Somerville, Massachusetts, Eden GeoPower Inc. is developing electrical reservoir stimulation technology to help geothermal, petroleum and mineral resource developers solve issues with low-permeability reservoirs by effectively increasing permeability in a way that uses less water and emits less CO2 than traditional stimulation methods.
  • FuelX has developed solid-state hydrogen power systems to help transportation manufacturers meet their customers’ growing performance requirements by using high-energy-density systems that outperform batteries and other pure hydrogen solutions. When coupled with a green hydrogen raw material, FuelX systems provide zero-carbon power.
  • GeoGen Technologies — a Canadian company — is developing a new kind of geothermal that allows oil and gas companies to convert end of life oil and gas wells to economic geothermal.
  • Durham, North Carolina-based GOLeafe uses organic materials and non-energy or capital-intensive equipment toproduce graphene oxide — the world's strongest, thinnest and most conductive material — through a process that’s 10 times more cost efficient and eco-friendly using readily available materials such as hay, sugar and wood chips.
  • LiNa Energy is commercializing safe, sustainable, solid-state sodium batteries that contain no lithium or cobalt.
  • Luminescent, based in the United Kingdom, is building an isothermal expansion heat engine for waste heat recovery along gas transmission pipelines.
  • Nobel improves fuel efficiency for gas-fired power plants with drop in, reliable supersonic combustion technology.
  • Quino Energy — based in California — produces low-cost, long-lifetime aqueous organic flow batteries for grid storage applications. The charge is stored in specially designed organic molecules called quinones, which are produced from cheap chemical precursors in a proprietary, zero-waste process.
  • Viridly, based in Texas,is developing geothermal power plants with patent-pending generator technology alongside geothermal greenhouses to provide the first financially viable way to confidently deliver and scale up the development of baseload geothermal electricity.
  • Another Canadian company, Volta Technique’s compressed air storage and management technology addresses the unpredictable and ever-increasing cost of energy for large commercial and industrial electricity users while enabling decarbonization of the electricity grid through higher integration of renewable energy.
  • Wootz, another Texas company, is developing a scalable manufacturing process to produce sustainable, cost-effective, high-performance carbon nanotube materials at commercial scale to replace or enhance traditional metallic conductors.

Twelve companies participated in Class 1 of the Rice Alliance Clean Energy, which was delivered virtually last summer. The 12 startups in that inaugural class have raised a combined $6.5 million in funding, identified and launched pilots, met investors, hired staff and moved their offices to Houston.

The program is supported by founding sponsor Wells Fargo and supporters: BP, Baker Botts, Chevron, ExxonMobil, Halliburton Labs, Equinor, Microsoft, NRG, Saudi Aramco Energy Ventures, Shell Ventures, Sunnova, TotalEnergies, Tudor Pickering Holt, Canadian Consulate, TC Energy, Phillips 66, and ENI Next.

Kerri Smith of the Rice Alliance joins the Houston Innovators Podcast to discuss Rice's Clean Energy Accelerator. Photo courtesy of Rice

Cleantech accelerator leader looks forward to new cohort and making an impact on Houston's energy transition

HOUSTON INNOVATORS PODCAST EPISODE 134

Kerri Smith knows accelerators. Through her over 18 years at Rice Alliance, she's been responsible for overseeing several and was on the founding leadership team of Houston's first energy tech startup accelerator, SURGE. After years of focusing you accelerating Rice University's student-focused program, Owl Spark, she's transitioned back into the energy tech space.

"I've worked with many types of founders. There's not one unique characteristic that everyone has," Smith says on the Houston Innovators Podcast. "Our goal is to help move them along and help them move the needle. At the end of the day, we want them to have a good experience and to meet their goals and objectives."

The Rice Alliance's Clean Energy Accelerator launched last summer with its inaugural cohort of 12 cleantech startups, which represented energy sectors from solar and wind innovations to hydrogen, geothermal, and more. Smith says the startups represented a wide range of stages and were from all over — only two companies were from Houston originally. The out-of-town companies were able to make critical partnerships in town and set up a presence and a home here.

"We were able to build a family-like culture among our group, and that was something that was wildly appreciative," Smith, who serves as executive director of the program, says.

Applications for Class 2 of CEA are open until May 31. While the program will offer the same access to mentorship and opportunities, the program will change slightly. CEA will focus on seed and series A-stage companies and will be a hybrid program. Throughout the 10 weeks, which begins in the fall instead of the summer this year, founders will visit Houston three times at the beginning, middle, and the end of the accelerator. Each startup will receive a grant to cover the expenses of the equity-free program.

CEA is just one part of a greater ecosystem of innovation under the umbrella of Rice University, which includes the Rice Alliance for Technology and Entrepreneurship, the Liu Idea Lab for Innovation and Entrepreneurship, The Ion Houston, Owl Spark, and more. All these entities also play into the greater Houston area's innovation ecosystem.

"Rice Alliance has a strong history of demonstrating collaboration with a number of organizations," Smith says. "I think one of the primary benefits that we have in these collaborative opportunities is to ensure that we are collectively building a capable and diverse pipeline of talent to solve for these problems and provide them with access to experiencing all of the benefits of our ecosystem."

With CEA specifically, some of these collaborations include working with Greentown Houston, which is just next door to the program's home at The Ion, and the Greater Houston Partnership's Houston Energy Transition Initiative.

"We're a cog in the wheel. We do really well with that. We play well with others – in ways that the founder has a good experience and can benefit," Smith says.

Smith shares more about what she's looking for in the second cohort of CEA on the podcast episode, as well as what she sees as Houston's role in the energy transition. Listen to the full interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.

In the latest round up of Houston innovation news you may have missed, applications open for Houston accelerators, Greentown Labs has a grand opening date, and more. Photo via Getty Images

Greentown Houston announces grand opening, clean energy accelerators open apps, and more innovation news

short stories

It's been a crazy start to 2021 with the innovation ecosystem being especially busy. For this reason, Houston innovation news may have fallen through some of the cracks.

In this roundup of short stories within Houston innovation, Greentown Labs makes a big announcement, new accelerator programs open applications, a UH-born technology wins big, and more.

Greentown Labs announces grand opening for Houston location

Greentown Houston is opening next month. Photo via GreentownLabs.com

Last Earth Day, the City of Houston launched its first Climate Action Plan. This Earth Day, the Greentown Houston is opening its doors. On Thursday, April 22, from 2 to 3:30 pm, Greentown Labs is hosting a virtual event to mark the grand opening.

At the event, attendees will be able to meet startups that are a part of the program, hear from energy and civic leaders, catch the latest Greentown partners, and watch the building's ribbon cutting. The event is free and registration is open.

"Greentown Houston is our first out-of-state expansion, and we have already welcomed more than 20 startup members and more than 20 Founding and Grand Opening partners," reads a recent announcement from Greentown. "Located in the city's Innovation District, Greentown Houston will provide more than 40,000 sq. ft. of prototyping lab, office, and community space for about 50 climatetech startups, totaling 200-300 employees."

Rice Alliance opens applications for its clean energy accelerator program

The Rice Alliance Clean Energy Accelerator's inaugural cohort will be held virtually — but will eventually be housed in The Ion. Courtesy of Rice University

The Rice Alliance for Technology and Entrepreneurship has opened applications for its inaugural cohort for the recently announced Clean Energy Accelerator. The program will be held virtually this summer from June to September — but will eventually be hosted out of The Ion.

At the conclusion of the program, the cohort will present in a Demo Day in conjunction with the 19th annual Rice Alliance Energy Venture Forum.

Applications are due by April 14 and interested parties can apply online.

University of Houston-born innovation wins big at SXSW

A UH-born device won a $25,000 investment at a SXSW event. Photo via UH.edu

A University of Houston professor took home an innovation prize and $25,000 investment from the Southwest National Pediatric Device Innovation Consortium's Pediatric Device Prize at this year's SXSW. The UH-born device is the Pediatric Lower-Extremity Gait System – known as P-LEGS – which is a mobility assistant, rehabilitation platform and diagnostic tool designed to help children with motor disabilities. It won one of two prizes out of 18 devices.

The principal investigator for the project, Jose Luis Contreras-Vidal, is a Hugh Roy and Lillie Cullen Distinguished Professor of Electrical and Computer Engineering and the director of UH's BRAIN Center. Other team members include graduate student lead, David Eguren, as well as Alexander Steele, Yang Hu, Krishna Sarvani Desabhotla, Swagat Bhandari, Lujayna Taha, Nivriti Sabhnani, and Allen Shen.

"We were excited and honored to have been selected by the SWPDC for this award," Eguren says in a news release. "The award will be valuable in helping us continue device development and testing."

Halliburton Labs opens next round of applications

Halliburton Labs is looking for its next cohort. Photo courtesy of Halliburton

A new corporate accelerator has announced that its latest round of startup applications is open. Halliburton Labs looking for startups for its next cohort, and applications are due on April 23.

"We're excited to identify technology entrepreneurs with ready-to-scale solutions in energy generation, storage, distribution, conservation, and the circular economy," says Dale Winger, managing director of Halliburton Labs, in a news release. "Our program provides critical resources, including technical and operational expertise across numerous hardware disciplines and a global business network, to help participants advance their products, prepare for further scale and position for additional financing."

Halliburton Labs will make their selections by the ongoing program's pitch day, which is slated for May 21. The Halliburton Labs Finalist Pitch Day will be a part of the Houston Tech Rodeo.

To apply to participate, click here.

Innovative organization names new board members

Baylor College of Medicine-supported, and NASA-backed TRISH has new board members. Photo via NASA/JPL-Caltech

The Translational Research Institute for Space Health — known as TRISH — recently announced seven new members to its Scientific Advisory Board. The Houston-based, NASA-funded organization is focused on cultivating space health innovations.

"We are at the cusp of space becoming more accessible to regular people. We are working toward safeguarding the health of all humans -- astronauts exploring deep space and people with preexisting conditions that want to experience space for short periods," says TRISH Director Dorit Donoviel. "TRISH's diverse advisory board members will help us focus our resources on the most impactful health technology and science innovations."

According to a press release, the newly appointed members are:

They join existing members:

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Houston health care institution secures $100M for expansion, shares renderings

fresh funding

Baylor College of Medicine has collected $100 million toward its $150 million fundraising goal for the college’s planned Lillie and Roy Cullen Tower.

The $100 million in gifts include:

  • A total of $30 million from The Cullen Foundation, The Cullen Trust for Health Care, and The Cullen Trust for Higher Education.
  • $12 million from the DeBakey Medical Foundation
  • $10 million from the Huffington Foundation
  • More than $45 million from members of Baylor’s Board of Trustees and other community donors, including the M.D. Anderson Foundation, the Albert and Margaret Alkek Foundation, and The Elkins Foundation.

“The Cullen Trust for Health Care is very honored to support this building along with The Cullen Foundation and The Cullen Trust for Higher Education,” Cullen Geiselman Muse, chair of The Cullen Trust for Health Care, says in a news release. “We cannot wait to see what new beginnings will come from inside the Lillie and Roy Cullen Tower.”

The Baylor campus is next to Texas Medical Center’s Helix Park, a 37-acre project. Rendering courtesy of BCM

The Lillie and Roy Cullen Tower is set to open in 2026. The 503,000-square-foot tower is the first phase of Baylor’s planned Health Sciences Park, an 800,000-square-foot project that will feature medical education and research adjacent to patient care at Baylor Medicine and Baylor St. Luke’s Medical Center on the McNair Campus.

The Baylor campus is next to Texas Medical Center’s Helix Park, a 37-acre project that will support healthcare, life sciences, and business ventures. Baylor is the anchor tenant in the first building being constructed at Helix Park.

“To really change the future of health, we need a space that facilitates the future,” says Dr. Paul Klotman, president, CEO, and executive dean of Baylor. “We need to have a great building to recruit great talent. Having a place where our clinical programs are located, where our data scientists are, next to a biotech development center, and having our medical students all integrated into that environment will allow them to be ready in the future for where healthcare is going.”

In the 1940s, Lillie and Roy Cullen and the M.D. Anderson Foundation were instrumental in establishing the Texas Medical Center, which is now the world’s largest medical complex.

“Baylor is the place it is today because of philanthropy,” Klotman says. “The Cullen family, the M.D. Anderson Foundation, and the Albert and Margaret Alkek Foundation have been some of Baylor’s most devoted champions, which has enabled Baylor to mold generations of exceptional health sciences professionals. It is fitting that history is repeating itself with support for this state-of-the-art education building.”

The Cullen Foundation donated $30 million to the project. Rendering courtesy of BCM

5 most popular innovation stories in Houston this week

what's trending

Editor's note:Another week has come and gone, and it's time to round up the top headlines from the past few days. Trending Houston tech and startup news on InnovationMap included overheard advice from corporates to startups, a rising hub for innovation at UH, and more.

University of Houston plans to build new central campus innovation hub

The University of Houston will construct a new hub for innovation on its main campus. The building is planned to be adjacent to the M.D. Anderson Library. Photo via uh.edu

Over a year ago, the University of Houston got the greenlight from the state of Texas to create a central hub for innovation on campus, Ramanan Krishnamoorti, vice president of energy and innovation at the University of Houston, tells InnovationMap.

“We asked the state two years ago for appropriations to create an innovation hub at the University of Houston,” Krishnamoorti says on this week's episode of the Houston Innovators Podcast. “We are now in the process of creating an innovation hub central to the campus at the University of Houston."

While the project is still in its early stages, the university has revealed some details on the building, which is slated to open in 2025 next to the M.D. Anderson Library on UH's main campus. It will be around 70,000 square feet and will house a makerspace, the Cyvia and Melvyn Wolff Center for Entrepreneurship, the Energy Transition Institute, innovation programs, and Presidential Frontier Faculty labs and offices. Read more.

Overheard: What Houston corporates are looking for from startups

At its annual Activation Festival, the Ion hosted a conversation about the relationship between corporates and startups. Photo courtesy of Shannon O'Hara/the Ion

Hundreds of innovators from Houston and beyond flocked to the Ion's annual Activation Festival, and one of the topics discussed at the series of programming was the relationship between corporates and startups.

One of Houston's points of pride is having the third most Fortune 500 companies headquartered here, but how can the city's innovation ecosystem take advantage of that market? And, on the other side of it, how can corporates make the most of Houston innovators?

At a panel on May 17 entitled "Corporate-Startup Partnerships: How to Build Them, Sustain Them, and How They’re Key to Fast-Tracking Innovation and Growth," three corporate leaders explained how they navigate relationships with startups and how cultivating these opportunities is key to the future of business. Read more.

Houston bank opens new innovation hub within its location in The Woodlands

The new space allows for Amegy Bank employees as well as North Houston innovators to work collaboratively. Photo via Amegy Bank

Amegy Bank renovated it banking center in The Woodlands to add a hub for innovation, technology, and entrepreneurship.

The office, located at 4576 Research Forest Dr., now houses a refurbished space from The Cannon, a co-working and entrepreneurship hub with locations across Houston. The Cannon creates and manages spaces where startup founders, business owners, investors, and more can meet on common ground to collaborate on their entrepreneurial endeavors.

“Amegy Bank has served the needs of business owners and families across Houston for over 30 years,” Amegy Bank-Houston President Dave Stevenson says in a news release. “The banking center’s refreshed design, with The Cannon onsite, will revolutionize North Houston’s access to localized financial resources tailored for entrepreneurs and small-to-mid-size businesses."Read more.

How this Houston-based studio is tackling billion-dollar problems with internal innovation

Anu Puvvada, KPMG Studio leader, shares how her team is advancing software solutions while navigating hype cycles and solving billion-dollar-problems. Photo courtesy of KPMG

In 2021, KPMG, a New York-based global audit, accounting, and advisory service provider, formed a new entity to play in the innovation space. The Houston-based team finds innovative software that benefit KPMG's clients across industries.

"We're really focused on transformative businesses that we can offer our clients in the next three to five years to solve fairly large problems," Anu Puvvada, KPMG Studio leader, tells InnovationMap.

Now, almost two years later, KPMG Studio has spun out its first company, AI-based security startup Cranium, which has raised $7 million in a seed round led by SYN Ventures with support from KPMG.

Established to advance internal innovation, KPMG Studio's technologies don't always get spun out into startups like Cranium, but with support of the team, the early-stage ideas receive guidance from the company's resources with the potential to be rolled into KPMG's suite of services for its clients. Read more.

Houston startup with revolutionary battery technology opens new labs

TexPower's founders — Board Chairman Arumugam Manthiram, CTO Wangda Li, and CEO Evan Erickson, respectively — celebrated the opening of the company's new lab space. Photo courtesy of TexPower

A Houston startup founded off research out of a Texas university has cut the ribbon on its new lab space.

TexPower EV Technologies Inc. celebrated the opening of its 6,000-square-foot laboratory and three-ton-per-year pilot production line at a ribbon-cutting event last week. The Northwest Houston site is located at 6935 Brittmoore Rd.

The new space will help the company further commercialize its cobalt-free lithium-ion cathode, lithium nickel manganese aluminum oxide (NMA). The technology is game changing for the electrification of the United States, including the rapid adoption of electric vehicles.

Currently, the country is experiencing a supply chain crisis, says Evan Erickson, co-founder and CEO of the company, at the event. Most of the world's cobalt, a material traditionally used in lithium-ion cathodes, is sourced primarily from the Congo and refinement is mostly controlled by China, he explains.

For these reasons, Cathodes are the most expensive component of lithium-ion batteries. But TexPower has a unique technology to solve this supply chain issue, and now with its new labs, is one step closer to commercialization of its materials. Read more.

Texas angel investor group expands to make impact in Houston

angels flying in

An angel investment network founded in Austin has announced its entrance into the Houston market.

SWAN Impact Network, which focuses on funding early-stage, impact-driven startups, announced that Houston will be its next market expansion. Founded in 2016, the organization expanded to Dallas two years ago. Now, SWAN is hitting the Bayou City and is actively looking for potential angel investors to join its network.

"Houston is the logical place for us to go because a lot of our deep expertise we developed is grounded around life science, health and wellness, and environmental," Bob Bridge, executive director of SWAN, tells InnovationMap. "There's a lot of people in Houston in the spaces where we've spent most of our time and money."

SWAN, originally founded as the Southwest Angel Network, has grown from several investors to over 80 across Texas. The investors, who meet virtually, range from former entrepreneurs, seasoned investors, and first time angels.

Valerie Tompson, who's serving as the Houston market lead, is an example of someone who was drawn to SWAN's mission, even though she had never invested in startups before.

"I was intrigued by the idea of being able to invest in companies that are making a difference in the world — and it's not a charitable donation," she says, explaining that joining a network allowed for her to learn the ropes and understand the process.

Bridge says they are looking to add 20 Houston investors over the next year. He says they are also interested in adding on volunteer analysts to help in the diligence work of the group. Whether you're a frequent investor or just interested in learning more, SWAN's door is open.

"We encourage new angels not to invest at first — go with us for a ride for six months, learn how we think about companies, see a bunch of companies pitch," Bridge says. "Once they start to get the comfort level up, then they can start making investors. We're very much about helping new angels get comfortable."

Currently, SWAN has two Houston startups — Scriptly Rx and Eisana — in its investment portfolio. In addition to the investor network, SWAN, a nonprofit organization, also has its SWAN Impact Philanthropic Fund that also invests in impact-driven businesses.

SWAN is hosting an event at the Ion on Wednesday, May 31, at 6 pm to celebrate its new Houston expansion, as well as to host a panel discussing impact investing. The event is free to attend, and registration is open.

Valerie Tompson, Houston chapter lead, and Bob Bridge, executive director, will be at the May 31 event. Photos courtesy of SWAN

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