Houston-based cleantech unicorn named among annual top disruptors

on the rise

Solugen claims a spot on CNBC’s annual Disruptor 50 list, which highlights private companies that are “upending the classic definition of disruption.” Photo via Getty Images

Houston-based biotech startup Solugen is making waves among innovative companies.

Solugen appears at No. 36 on CNBC’s annual Disruptor 50 list, which highlights private companies that are “upending the classic definition of disruption.” Privately owned startups founded after January 1, 2009, were eligible for the Disruptor 50 list.

Founded in 2016, Solugen replaces petroleum-based products with plant-derived substitutes through its Bioforge manufacturing platform. For example, it uses engineered enzymes and metal catalysts to convert feedstocks like sugar into chemicals that have traditionally been made from fossil fuels, such as petroleum and natural gas.

Solugen has raised $643 million in funding and now boasts a valuation of $2.2 billion.

“Sparked by a chance medical school poker game conversation in 2016, Solugen evolved from prototype to physical asset in five years, and production hit commercial scale shortly thereafter,” says CNBC.

Solugen co-founders Gaurab Chakrabarti and Sean Hunt received the Entrepreneur of The Year 2023 National Award, presented by professional services giant EY.

“Solugen is a textbook startup launched by two partners with $10,000 in seed money that is revolutionizing the chemical refining industry. The innovation-driven company is tackling impactful, life-changing issues important to the planet,” Entrepreneur of The Year judges wrote.

In April 2024, Solugen broke ground on a Bioforge biomanufacturing plant in Marshall, Minnesota. The 500,000-square-foot, 34-acre facility arose through a Solugen partnership with ADM. Chicago-based ADM produces agricultural products, commodities, and ingredients. The plant is expected to open in the fall of 2025.

“Solugen’s … technology is a transformative force in sustainable chemical manufacturing,” says Hunt. “The new facility will significantly increase our existing capabilities, enabling us to expand the market share of low-carbon chemistries.”

Texas has been known for ages as a business-friendly state, but one recent report suggests it might be falling from grace. Photo via Getty Images

Texas' business friendliness gets mixed reviews from 2 recent reports

lone star standings

It’s a tale of two views of Texas’ business-friendly reputation. For the first time ever, the Lone Star State has fallen out of the top five in CNBC’s annual ranking of the best states to do business. Meanwhile, Texas tops Business Facilities’ new ranking of the best state business climates.

On July 11, CNBC released the 2023 edition of its ranking of the top states for doing business. The ranking puts Texas at No. 6, leaving the Lone Star State out of the top five for the first time since CNBC launched its study in 2007. Texas appeared at No. 5 in 2022 and No. 4 in 2021. The state finished first in 2008, 2010, 2012, and 2018.

For the second consecutive year, North Carolina leads the CNBC ranking, thus “solidifying its position as an economic powerhouse,” according to the Economic Development Partnership of North Carolina.

Despite dropping out of the top five, CNBC acknowledges that Texas remains an economic powerhouse.

Texas grabs CNBC’s No. 2 spot, behind Florida, for the best state economy. And the state witnessed year-over-year job growth of four percent through May, the highest rate of any state. Furthermore, Texas ties with California for access to capital, the study says, and snags the No. 2 spot in the workforce category.

Texas’ fall this year includes a slide from No. 15 to No. 24 in the infrastructure category. CNBC mentions the 2021 wintertime collapse of the state’s electric grid in its explanation of the nine-spot drop.

Other knocks against Texas:

  • A decline from No. 21 to No. 35 in the education category.
  • A dip from No. 12 to No. 16 in the cost-of-doing-business category.
  • A plunge from No. 14 to No. 22 for cost of living.
  • A bottom-of-the-barrel ranking in the life, health, and inclusion category, down from No. 49 last year.

In an email to CNBC, an unnamed spokesman for Gov. Greg Abbott shrugged off this year’s sixth-place showing.

“People and businesses vote with their feet, and continually they are choosing to move to Texas more than any other state in the country,” the spokesman wrote.

The spokesman cited the state’s national lead in job creation, attracting more than 280 new corporate headquarters since 2015, and its status as a perennial front-runner in economic development projects.

“Texas remains number one because people and businesses are choosing our state over any other for the unmatched competitive advantages we offer: no corporate or personal income taxes, a predictable regulatory climate, and a young, skilled, diverse, and growing workforce,” the spokesman wrote.

While Texas didn’t fare as well in this year’s CNBC study, it can brag about its 2023 designation as Business Facilities magazine’s state with the best business climate. In second place: North Carolina.

“The strength and sustained momentum of the Texas economy made the state a clear choice for [No. 1] in this year’s rankings,” Anne Cosgrove, editorial director of Business Facilities, says in a June 26 statement. “Taking the top spot this year is based not only on the impressive capital investment and job creation numbers, but also for diversity of industries, robust infrastructure, and a business-friendly regulatory and tax climate.”

Abbott took the opportunity to publicize the No. 1 ranking from Business Facilities.

“When businesses succeed, so do Texans — and our business climate ensures that Texas continues to offer world-class educational opportunities, good-paying careers to support families, and endless possibilities to prosper,” Abbott says in a news release.

CNBC’s ranking doesn't think too kindly of Texas. Photo via Getty Images

Texas named No. 2 worst state to live, but one of the best for business

mixed messages

It’s a tale of two states. A new study from CNBC ranks Texas as the fifth best state for doing business. But CNBC simultaneously puts Texas in second place among the worst states to live.

Texas rates poorly for life, health, and inclusion, CNBC says. In fact, the Lone Star state holds the No. 49 spot in that category. Texas’ weaknesses include childcare, health resources, inclusiveness, and voting rights, according to CNBC.

Skilled workers continue to flock to Texas despite lingering quality-of-life issues, CNBC says.

“But when they arrive, they are finding limited childcare options, a stressed health care system with the highest rate of uninsured, new curbs on voting rights, and few protections against discrimination,” CNBC says.

Only Arizona fared worse on CNBC’s list of the worst states to live.

In 2021, Texas wound up at No. 31 on U.S. News & World Report’s list of the best states. Texas’ highest rankings came in the economy (No. 9) and fiscal stability (No. 10) categories. But it notched rankings below 30 in five other categories: healthcare (No. 31), education (No. 34), crime and corrections (No. 37), opportunity (No. 39), and natural environment (No. 40).

Louisiana came in last place on U.S. News’ list of the best states.

Despite its poor showing in the CNBC study as a place to live, Texas claims the No. 5 spot in the cable news network’s study of the best states for doing business. It ranks especially high for its workforce (No. 2), technology and innovation (No. 4), and economy (No. 8). In CNBC’s 2021 study, Texas landed at No. 4 among the best states for doing business.

This year, North Carolina grabs the CNBC crown as the best state for business, up from second place in 2021.

In an interview last year with CNBC, Gov. Greg Abbott emphasized Texas’ growing stature as a business magnet.

“We continue to see a massive influx of these employers coming to the state of Texas because, candidly, not only do they like the business environment, but … there’s a lot of businesses and a lot of Americans who like the social positions that the state of Texas is taking,” said Abbott, referring to recent legislative restrictions on abortion and voting rights.

Abbott went on to note that Tesla CEO Elon Musk, the world’s richest person, decided in late 2021 to shift the headquarters of the automaker from “very liberal” California to Texas.

“People vote with their feet,” the governor said, “and this [wave of socially conservative legislation] is not slowing down businesses coming to the state of Texas at all. In fact, it is accelerating the process of businesses coming to Texas.”

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This article originally ran on CultureMap.

How's startup life in Texas? Well, it's the best in the nation, according to a new ranking. Photo via Getty Images

Report: Texas ranks as the best state to start a business

lone star startups

If you're a Texan looking to launch a startup, you appear to be in the right place.

Personal finance website WalletHub puts Texas at No. 1 in its new ranking of the best and worst states for starting a business. Across the 50 states, WalletHub compared 28 key indicators of startup success to come up with the list.

In the general bucket for "business environment," Texas ranked second. It dropped to 12th in the "access to resources" category and 32nd in the "business costs" category. Digging deeper, Texas appears at No. 4 for the average length of the workweek, No. 5 for the highest total spending on incentives as a percentage of GDP, and No. 6 for average growth in number of small businesses. However, Texas scored a below-average 29th-place ranking for labor costs.

"Choosing the right state for a business is … crucial to its success," WalletHub explains. "A state that provides the ideal conditions for business creation — access to cash, skilled workers, and affordable office space, for instance — can help new ventures not only take off but also thrive."

The WalletHub accolade follows a handful of other recent plaudits for Texas' business-friendly environment.

In March, Site Selection magazine awarded its Governor's Cup to Texas. The Governor's Cup honors the top states for job creation and capital investment.

"Despite the challenges faced from the COVID-19 pandemic, we've seen what Texas can achieve when we foster an environment that empowers people to succeed," Gov. Greg Abbott said in a statement about the Governor's Cup win. "The Texas model continues to inspire entrepreneurs and innovators and attract job creators from across the country, and I look forward to spurring more job growth and opportunity for all Texans in every corner of our great state."

A month later, Chief Executive magazine crowned Texas the best state for business for the 17th consecutive year.

But Texas ranked fourth in CNBC's recent rundown of the top states for business in 2021. "A fourth-place finish would be good for most states, but not Texas. This year's finish ties for the worst-ever for the four-time Top State, which last won in 2018," CNBC says.

CNBC says Texas finished fourth based on the strength of its workforce and economy.

"But Texas was hurt this year by policies that run counter to the study's increased focus on inclusiveness," adds CNBC, pointing out that Abbott is pressing ahead with these policies during the current special session of the Texas Legislature.

Abbott's agenda for the special session includes legislation that critics view as watering down voting rights, attacking public school education about racism, and punishing transgender competitors in school sports. Supporters say these measures would preserve election integrity, strip critical race theory from public education in Texas, and protect females participating in school sports whose gender identity aligns with their birth gender.

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10+ can't-miss Houston business and innovation events for August

where to be

School is back in session this month, and a busy slate of Houston business and innovation events follows. This month brings demo days, loads of networking opportunities and a major health symposium. Here’s what not to miss and how to register. Please note: this article may be updated to add more events.

Aug. 4 — CEOs: Build With AI, Exit With a Premium

Join Blue People for this engaging presentation by David Lopez, founder of Summa, at the latest installment of Tech + Tequila Talk. Lopez will discuss AI moves that can multiply a company's value.

This event is Tuesday, Aug. 4, from 5-7 p.m. at the Ion. Register here.

Aug. 4 — SEIP Demo Day

The Rice Center for Engineering Leadership will showcase the groundbreaking projects developed by its Summer Engineering Innovation Program at the 2026 Demo Day. Attendees can meet the SEIP participants and partners and hear the teams' final presentations.

This event is Tuesday, Aug. 4, from 6-8 p.m. at the Ion. Register here.

Aug. 5 — Summer Venture Studio Preview Day

The Liu Idea Lab for Innovation and Entrepreneurship (Lilie) will present its inaugural Summer Venture Studio Preview Day this month. Hear from the student founders selected for Lilie's summer cohort, which features teams ranging from the healthcare and artificial intelligence to advanced manufacturing sectors.

This event is Wednesday, Aug. 5, from 4-6 p.m. at the Ion. Register here.

Aug. 11 — Mercury Fund Day at the Ion: How Legacy Software Giants Are Going AI-First

Don’t miss the latest installment of Mercury Fund Day at the Ion, previously known as Software Day. The recurring monthly event features office hours (by application), a keynote and networking opportunities. This month's topic will feature a working conversation with Senior Director of Growth at Twilio Mustafa Ali, Senior Director of Consumer Product at WhatsApp Zafir Khan, and Founder and CEO of utilITise Salim Gheewalla.

This event is Tuesday, Aug. 11, from 3:30-7 p.m. at the Ion. Register here.

Aug. 13 — Pints and Prototypes

TMC Innovation Lab will host its Pints & Prototypes networking event this month. Minneapolis-based Medtronic will support this month's event and has invited guest speakers to share their journey in the medtech scene.

This event is Thursday, Aug. 13, from 4-5:30 p.m. at TMC Innovation Factory. Find more information here.

Aug. 14 — Houston Methodist Cancer Symposium

The 14th Annual Houston Methodist Cancer Symposium will bring together Houston Methodist scientists and physicians from a broad spectrum of fields to discuss everything from innovative translational science to clinical updates. The symposium aims to provide education focused on improving patient care, research collaboration and leading medicine.

This event is Friday, Aug. 14, from 7:30 a.m.-4:45 p.m. at Houston Methodist Research Institute. Find more information and register here.

Aug. 14 — Hands-On Workshop: Build Your Own Reusable AI System

Impact Hub Houston and Social Media Breakfast of Houston will host this hands-on workshop on using Smart Card to create a repeatable process users can hand off to AI. Attendees should bring a laptop, an AI tool, and a task that AI could help with. The workshop will focus on working with ChatGPT, Claude or Gemini.

This event is Friday, Aug. 14, from 8:30-10:30 a.m. at the Ion. Register here.

Aug. 17-21 — Foundations of Cancer Therapeutics Crash Course

The Gulf Coast Consortia will host a virtual course focused on the commercialization aspects of moving cancer therapeutics toward the market. Presenters represent The University of Texas Medical Branch Galveston, the Greater Houston Partnership, TMC Innovation, the University of Houston, Texas Southern University and other major institutions.

This event begins Monday, Aug. 17, at 10 a.m. Register here.

Aug. 20 — Pickle Lab’s Two-Year Anniversary Celebration

Enjoy an evening of open-play pickleball, beats by a live DJ, giveaways and more at the second anniversary celebration of Pickle Lab in the Ion District. Enjoy a free beverage from Second Draught and food for purchase from the Crunchy’s for the Munchies food truck.

This event takes place Thursday, Aug. 20, from 6-9 p.m. at Pickle Lab at the Ion. Register here.

Aug. 20 — SBA Lender Matchmaking Event

Business owners can meet with multiple lenders in scheduled, one-on-one 15-minute sessions during this speed-dating style SBA event. SBA Houston District Office representatives will also be onsite to provide free business advising.

This event takes place Thursday, Aug. 20, from 8:30 a.m.–noon at SBDC Sam Houston State University – The Woodlands Center. Register here.

Aug. 27 — BiteLabs Digital Health and Innovation Summit

TMC Innovation and BiteLabs will host the Digital Health and Innovation Summit, which aims to connect clinicians, founders and investors. The event will include an AI in biotech panel, a healthcare AI ethics panel, a hiring in digital health panel, and pitches from BiteLabs USA HealthTech, AI, and Innovation Fellowship.

This event takes place Thursday, Aug. 27, from 10 a.m.–5 p.m. at TMC Innovation Factory. Register here.

Houston nonprofit wins Meta grant to study AI glasses for disabilities

Helping Houston

A grant from Meta will help Easter Seals Greater Houston determine whether wearable AI smart glasses improve accessibility for those with disabilities. The local nonprofit is one organization that received a share of $2 million that Meta allocated in late July.

"Meta is proud to select recipients, including the Easter Seals Greater Houston, based on demonstrated impact, scalability, and relevance to areas where hands-free technology can make the biggest difference," Meta executive Beth Murray said in a request for comment. "It was exciting to receive nearly 500 applications from organizations across the country, and now the real innovation begins here in Houston with the Easter Seals project to understand how different local communities can benefit from AI glasses."

Meta launched its AI Glasses Impact Grant program in January with the goal of delivering nearly $2 million in funds to organizations across the country to see how their Meta AI Glasses could improve people's lives. It selected over 30 recipients from more than 500 applicants.

Easter Seals is using the grant to help pay for its BridgingApps Program, "a community-centered pilot studying how three distinct populations — people with low vision, people with intellectual and developmental disabilities, and those with cognitive aging – can benefit from AI glasses," Meta says. Easter Seals is part of one of the oldest networks in America for disabilities, delivering disability support, veteran training, and other services. The Greater Houston branch was established in 1947.

Meta AI Glasses integrate AI personal assistance with wearable tech for a hands-free connective experience. While many people use their built-in cameras and social media access to create content, the Impact Grant promotes how the technology might assist people with disabilities as well as innovate in industrial and scientific fields.

Data storage and recall could aid people with memory loss, while interpretative AI facial recognition software may let neurodivergent and developmentally delayed people recognize social cues. The pilot program at Easter Seals will explore some of these possibilities.

Two other Texas organizations received grants. The University of North Texas will also explore disability assistance through Meta AI Glasses, in a school environment rather than in the general public space. Austin software company Embarcadero Technologies will use the glasses to build a remote training platform that can simultaneously mentor five junior workers at once.

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This article originally appeared on CultureMap.com.

Houston startup lands $10M to power up electrician staffing platform

money moves

Houston-based Buildforce, which provides a tech-enabled staff platform geared toward electricians and electrical contractors, has raised a $10 million Series A round led by Houston’s Saepio Capital.

Other investors in the round include Blue Heron Capital, Revolution’s Rise of the Rest Seed Fund, S3 Ventures and Chicago Ventures.

Buildforce says the funding will help fuel its national expansion and further development of its technology.

The startup, founded in 2019, connects electricians with electrical contractors for commercial and industrial construction projects. Buildforce’s mobile app helps electricians find and carry out work, and a web app helps electrical contractors find and manage electricians.

“This financing is a major milestone in furthering our mission to help people dedicated to a career in the construction trades lead more secure and fulfilling lives,” co-founder and CEO Moody Heard said in a news release.

Buildforce focuses solely on the electrical trade within the construction sector.

Nick Graziano, principal at Blue Heron, says the shortage of electricians is intensifying as demand for electricians accelerates, driven by data center construction, infrastructure development and energy transition initiatives.

The U.S. Bureau of Labor Statistics estimates the U.S. will need to hire about 80,000 new electricians per year through 2032 to catch up with demand. According to the National Electrical Contractors Association, the U.S. is grappling with a current shortage of 50,000 electricians.

A 2026 economic report from asset manager BlackRock says the electrical trade is expected to be the single fastest-growing employment category in the U.S. labor market over the next 10 years.

“Buildforce is capitalizing on a clear opportunity in America’s generational infrastructure buildout. We believe their mission to use technology to improve lives in the construction space will allow them to make a positive long-term impact on a large and important labor market,” added Jaan Bains, managing partner at Saepio Capital.

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