Meet the 4 corporations best supporting Houston's innovation ecosystem

Houston innovation awards

The Corporate of the Year category for the Houston Innovation Awards has four finalists — each playing a role in Houston's innovation ecosystem across energy, tech, and health care innovation. Photos courtesy

What corporations are most supporting Houston's startup ecosystem? The Houston Innovation Awards sought to find that out with a new category for the 2023 event.

The Corporate of the Year category has four finalists — each playing a role in Houston's innovation ecosystem across energy, tech, and health care innovation. Learn about each of these finalists in the interviews below.

Click here to secure your tickets to the November 8 event where we announce the winner of this exciting new category.

Aramco Ventures

Jim Sledzik, North American managing director of Saudi Aramco Energy Ventures, leads the organization locally. Photo via Aramco

Describe your company's work within the Houston innovation ecosystem.

Aramco Ventures has supported the development of Houston's innovation ecosystem as a founding member of the Ion to advance energy transition and Houston's tech economy. Jim Sledzik, managing director, Aramco Ventures North America, serves on the Ion Advisory Council. In addition we support Greentown Labs with its offices in Boston and Houston with Sledzik also named to its Advisory Board. Aramco Venture professionals are frequently tapped as speakers and participants for numerous industry speaking events and "Pitch Competitions" for start-up companies. For example, the 20th Annual Energy Tech Venture Forum held in Houston and organized by the Rice Alliance for Technology and Entrepreneurship; Climate Week NYC; and the first ever Women's Capital Summit in New York City.

Why has your company decided to support the Houston innovation ecosystem?

Houston is considered the energy capital of the world and Aramco's support and involvement will help amplify the city's reputation and presence as a global energy hub.

Describe your company's impact on the Houston innovation ecosystem.

Aramco's impact has been felt throughout the city by our involvement in major innovation events, activities, and investments.

Chevron Technology Ventures

Jim Gable, vice president of innovation at Chevron and president of Chevron Technology Ventures, leads the organization locally. Photo courtesy

Why has your company decided to support the Houston innovation ecosystem?

Investing in the communities where we operate is a core Chevron value, and Chevron is committed to building the innovation ecosystem in Houston. It’s good for our company and it’s good for the city.

The Houston region, with its deep pool of engineering and industry talent, world-class university expertise, growing startup community and vast energy infrastructure, is well-positioned to lead in the creation of lower carbon energy and improve the region’s global competitiveness. By leveraging its strengths, Houston can create its own model for how it’s going to disrupt the energy space.

Describe your company's impact on the Houston innovation ecosystem.

At Chevron Technology Ventures, we leverage our trial and deployment resources, venture investments and strategic partnerships – both internal and external – to support the technological breakthroughs that will enable the evolution to a lower-carbon energy system. CTV is an active sponsor of university programs and accelerators that build up the Houston energy ecosystem. It has led Chevron’s founding partnership with Greentown Labs Houston and was The Ion’s first tenant and program partner. CTV also backs The Cannon and Rice Alliance Clean Energy Accelerator, among others. As a partner and supporter of the innovation ecosystem, Chevron is committed to helping the ecosystem thrive.

Houston Methodist

Michelle Stansbury, vice president of innovation and IT applications at Houston Methodist, leads the company's innovation efforts. Photo courtesy of Houston Methodist

Describe your company's work within the Houston innovation ecosystem.

Our new collaborative space, the Tech Hub at Ion, is one way we are expanding our culture of innovation within Houston and its growing innovation ecosystem. Beyond showcasing ongoing technology, the Tech Hub at Ion also serves as a nucleus for community engagement and networking and hosting educational initiatives, with additional programming opportunities like reverse pitch sessions in the works.

Why has your company decided to support the Houston innovation ecosystem?

Healthcare is evolving at a rapid pace thanks to digital technology, so it’s important to search for solutions that are beyond the traditional walls of the hospital and even beyond our own industry. Serving our patients both in and outside the walls, especially in the community, has been a priority for Houston Methodist since our inception. We’ve had success in the healthcare innovation space, so we think it’s important to pay it forward and support the Houston innovation community.

Describe your company's impact on the Houston innovation ecosystem.

Our new collaborative space, the Tech Hub at Ion, is one way we are expanding our culture of innovation within Houston and its growing innovation ecosystem. Beyond showcasing ongoing technology, the Tech Hub at Ion also serves as a nucleus for community engagement and networking and hosting educational initiatives, with additional programming opportunities like reverse pitch sessions in the works. Houston Methodist’s Center for Innovation often collaborates with technology companies with solutions that provide a better patient experience and/or support clinicians and often these are technology companies early in their start-up journey. One Houston start-up Houston Methodist at the beginning of the pandemic and continues to use is MIC Sickbay, the technology that powers the virtual ICU and uses algorithms and AI to monitor patients.

Microsoft

Rob Schapiro, Energy Acceleration Program director and Houston site leader for Microsoft, leads the company's local innovation support efforts. Photo courtesy of Microsoft

Describe your company's work within the Houston innovation ecosystem.

Microsoft is committed to driving tech and innovation in the Houston community with a specific focus on underrepresented communities. Microsoft is financially supporting the ion, Greentown Labs Accel, DivInc, Tejano Tech Summit, and the Rice Alliance Clean Energy Accelerator as well as programs designed to bring the next generations of Houston founders to the forefront (G-Unity Business Lab, SuperGirls Shine Foundation, Tech Fest Live, PVAMU). Aside from the financial support, Microsoft brings a dedicated team of volunteers and mentors to each of these engagements, and they are helping shape the future of innovation in the city of Houston.

Why has your company decided to support the Houston innovation ecosystem?

We believe that it is our duty to be an active and engaged corporate partner to any and all communities in which we operate. We decided to invest in Houston because of the rich, diverse talent pool and the growing energy transition industry.

Describe your company's impact on the Houston innovation ecosystem.

  • Partnered with DivInc to create an Energy Tech Accelerator program that had its first cohort of seven companies this year.
  • Driving thought leadership and bringing attention to valuable initiatives through serving on the advisory boards of the Ion (Vice Chair position), Greentown Labs Houston, Rice Alliance Clean Energy Accelerator.
  • Supporting the next generation of innovators: 120 high school students received hands on training in innovation and prototyping as part of the G-Unity Business Lab. This program doubled in size due to its success. Microsoft sponsored prototyping and design thinking training. We also seated one of the Hustle Tank judges.
  • Graduated 14 students from the Level Up fellowship program in partnership with Prairie View A&M University and Accenture; most students received and accepted employment offers from Accenture.
  • Sponsored 20 high school girls who participated in the SuperGirls Shine Foundation's 40/40 mentorship program.
  • Ten women founders received mentoring and training as part of the DivInc Women in Tech Cohort
  • Held a four-week high school internship program for BIPOC students

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Houston startup designing emergency response drones lands $5.2M in seed funding

cha-ching

Houston-based Paladin, whose remotely controlled drones help first responders react quickly to emergencies, has collected $5.2 million in seed funding.

Gradient, a seed fund that backs AI-oriented startups, led the round. Also participating were Toyota Ventures, the early-stage VC arm of Japanese automaker Toyota; venture capital firm Khosla Ventures; and VC fund 1517.

“We believe Paladin will drive meaningful change in public safety and redefine how communities are served,” Gradient said in an announcement about the seed round.

In 2019, Paladin received $1.3 million in seed funding from Khosla Ventures and Gmail creator Paul Buchheit, a group partner at Y Combinator. In 2018, the year it was co-founded by Divyaditya Shrivastava and Trevor Pennypacker, Paladin graduated from Y Combinator’s three-month boot camp.

Paladin’s AI-enhanced autonomous drones help public safety agencies, such as police and fire departments, respond to 911 calls. These drones provide aerial views of emergency scenes in an effort to decrease response times, improve “situational awareness,” and save lives, according to a Gradient blog post.

Among the agencies that have tried out Paladin’s technology is the Houston area’s Memorial Villages Police Department. The department participated in a three-month Paladin pilot project in 2019.

"(This is) one of the first departments in the country to be testing this technology," Shrivastava told InnovationMap in 2019. "We're very limited in the area that we cover, and that's just because we're taking baby steps and going as carefully and deliberately as possible."

Gradient says more than 12,000 drone missions have been performed using Paladin’s hardware and software platform. Agencies that have adopted the platform report average response times under 90 seconds. Furthermore, the technology has allowed them to resolve nearly one-third of 911 calls without dispatching first responders.

“Paladin keeps innovating, recently launching Payload Drop, a groundbreaking feature that enables drones to deliver lifesaving equipment — such as Narcan, life vests, and AEDs — directly to emergency scenes,” says Gradient.

On its website, Paladin says it envisions autonomous drones responding to every 911 call in the U.S. by 2027.

“The information is paramount, the technology exists and is rapidly improving, and the need is there. We want to help,” Paladin proclaims.

Energy, investment groups take up leases in Houston innovation hub

moving in

The Ion in Midtown has some new tenants taking up residence in its 90 percent-leased building.

Occidental Petroleum Corporation, Fathom Fund, and Activate are the latest additions to the Ion, according to a news release from Rice University and the Rice Real Estate Company, which own and operate the 16-acre Ion District where the Ion is located. With the additions, the building has just 10 percent left up for grabs.

“As the Ion continues to attract leading companies and organizations across industries, it’s clear that our vision of creating a dynamic and collaborative environment for innovation is resonating,” Ken Jett, president of the Rice Real Estate Company and vice president of facilities and capital planning at Rice, says in the release. “We are proud to set the standard for how the workplace can evolve to foster the commercialization and growth of transformative technologies that enhance quality of life in our community and beyond.”

Oxy, which was named a corporate partner of the Ion last year, now has nearly 6,500 square feet on the fourth floor where it will be housing its Zero In department that's focused on pioneering low-carbon initiatives. The build out process is slated to be completed by early 2025.

While Oxy represents the corporate side of innovation, the other two additions have their own roles in the innovation arena. Houston-based Fathom Fund, which launched its $100 million fund earlier this year, is targeting deep-tech venture opportunities and is led by Managing Partners Paul Sheng and Eric Bielke.

Founded in Berkeley, California, Activate, which announced its expansion into Houston in 2023, has officially named its local office in the Ion. The hardtech-focused incubator program recently named its inaugural cohort and opened applications for the 2025 program.

Other recent joiners to the Ion includes Kongsberg Digital, Artemis Energy Partners, CES Renewables, and Eleox.

“The partnerships we’ve forged are vital to shaping the Ion into a vibrant ecosystem for startups, where collaborative innovation is not only driving local economic growth but also positioning Houston as a global leader in the energy transition,” Paul Cherukuri, chief innovation officer at Rice University, says. “With our team leading the programming and activation across the Ion district, we are creating companies that harness cutting-edge technology for the benefit of society—advancing solutions that contribute to social good while addressing the most pressing challenges of our time. This powerful network is redefining Houston’s role in the future of energy, technology, and social impact.”

Houston's top innovators named, VC activity takes a hit, and more top tech, startup news from the week

now trending

Editor's note:Let's roundup the most-read Houston innovation news from the week. Trending Houston tech and startup articles from InnovationMap and its daily newsletter included the the Houston Innovation Awards finalists being named, a new report that shows Houston venture funding is down, and more.

Top innovators: 2024 Houston Innovation Awards finalists revealed

Here's what Houston startups and innovators will be honored at the Houston Innovation Awards on November 14. Graphic via Gow Media

After nearly 300 nominations, InnovationMap and its group of judges are ready to reveal the finalists for this year's Houston Innovation Awards.

Taking place on Thursday, November 14, the Houston Innovation Awards celebrates all of Houston's innovation ecosystem — startups, entrepreneurs, investors, mentors, and more. Over 50 finalists will be recognized in particular for their achievements across 13 categories, which includes the 2024 Trailblazer Legacy Awards that were announced earlier this month.

Click here to see the 2024 Houston Innovation Awards finalists.

After trending up all year, Houston VC activity drops in Q3

During the third quarter of 2024, Houston-area companies saw a 15 percent decrease of VC investment compared to the third quarter of 2023. Photo via Getty Images

New data from the PitchBook/NVCA Venture Monitor reveals a seesaw pattern in the Houston area’s venture capital funding.

VC fundraising by Houston-area companies climbed during the first part of this year compared with the same period last year, according to the latest PitchBook/NVCA Venture Monitor. But from 2023 to 2024, the region’s third-quarter VC haul fell by a double-digit percentage.

In the first three quarters of 2024, Houston-area companies collected $1.24 billion in venture capital, the PitchBook/NVCA Venture Monitor shows. That’s up eight percent from the $1.15 billion raised in the first three quarters of 2023. Continue reading.

Houston health care leader secures funding, milestones for latest initiatives across cancer, stroke, and more

UTHealth Houston has secured millions in grant funding — plus has reached a new milestone for one of its projects. Photo via utsystem.edu

UTHealth Houston is making waves in many disciplines right now. From cancer to Alzheimer’s disease to stroke, the institution is improving outcomes for patients in new ways. Last week, UTHealth announced three exciting updates to its roster of accomplishments.

On October 8, UTHealth announced that it had received a $4.8 million grant from the National Cancer Institute, aimed at helping cancer survivors to continue their healing and enhancing primary care capacity. It will be put into action by UTHealth researchers working with eight community health centers around Texas that treat un- and underinsured patients. The initiative is called Project CASCADE, which stands for Community and Academic Synergy for Cancer Survivorship Care Delivery Enhancement.

“Project CASCADE focuses on how primary healthcare teams provide whole-person and coordinated care to underserved patients who have a history of cancer,” says Bijal Balasubramanian, professor of epidemiology and the Rockwell Distinguished Chair in Society and Health at UTHealth Houston School of Public Health, a multiple principal investigator of the study. “Primary care is uniquely suited to deliver whole-person and coordinated care for cancer survivors because, at its core, it prioritizes, personalizes and integrates healthcare for all conditions, not just the cancer.” Continue reading.

Houston biotech VC firm's portfolio cos. score $5.3M in federal funding

Three of First Bight Venture's portfolio companies have secured federal funding. Photo via Getty Images

Three portfolio companies of Houston venture capital firm First Bight Ventures have received a combined $5.25 million from the U.S. Defense Department’s Distributed Bioindustrial Manufacturing Program.

“The allocation of funds by the federal government will be critical in helping grow biomanufacturing capacity,” Veronica Breckenridge (née Wu), founder of First Bight, says in a news release. “We are very proud to represent three dynamic companies that are awardees of this competitive and widely praised program.” Continue reading.

NASA awards Houston university $1.2M for diversity in aerospace initiative

The funding will go toward promoting diversity in aerospace workforce development. Photo via UH.edu

NASA will award the University of Houston $1.2 million toward a collaborative project with some of the biggest players in aerospace to foster diversity in the field.

The funds will go toward UH's Partnership for Inclusivity in Engineering Education and Research for Space, or PIE2RS, which is a collaboration between UH, UH-Clear Lake, NASA’s Johnson Space Center, the Boeing Company, and the Greater Houston Partnership. Continue reading.

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