How small business accelerators can help Houston startups take off

Houston voices

“Small business incubators serve as the foundation of most innovation ecosystems." Graphic by Miguel Tovar/University of Houston

If you plan to start a new business or already have but you don’t have an office or lab space, why should you consider working with a small business incubator?

An incubator is an organization that offers assistance and resources to help newly-formed businesses get started and supports them as they move forward. Small business incubators also provide space to house these companies in a shared work environment.

According to the executive director of the University of Houston Office of Technology Transfer and Innovation, Christopher Taylor, “Small business incubators serve as the foundation of most innovation ecosystems and for startups, these hubs provide connectivity, support, and resources they can leverage to improve their odds of success.”

Community connectivity

In a small business blog on Chron.com, the author points out that even after a business leaves an incubator, the connections they make with other business owners are relationships that will continue to grow. There, startups can learn and grow together and, in turn, incubators foster a continuously growing community by looking for businesses and growing companies that serve the same field.

For example, an incubator that is focused on technology will look for companies that are in the technology sector. At Texas Medical Center Innovation, two programs support the development of health technologies. The Cancer Therapeutics Accelerator is a nine-month program where startups get support in market and technical research. The Health Tech Accelerator is a six-month program for digital health and medical device startups.

Startup support

Business incubators offer support in many ways, including critical services that help move businesses forward.

For example, the UH Technology Bridge connects new business owners to the Small Business Development Center, where they can get help with all their preliminary operational tasks. Companies housed at incubators also gain access to programming like focused workshops that cover how to find funding, how to build a business strategy and other business fundamentals.

Startup incubators also give startups with limited funds access to expensive equipment that they would otherwise not be able to afford. They also offer office space, usually at a lower cost than other commercial space. These spaces usually include office amenities such as central printing and conference rooms. They are able to offer lower costs because they are usually funded by a school, city or investors.

Some for-profit incubators make money by directly selling their services to startups or others. Some may make money indirectly, meaning their services generate sales for other services.

The Big Idea

“Many successful startups come out of incubators because they have the ability to create tremendous velocity as companies work towards commercializing their technologies,” Taylor said.

Starting a business is not an easy feat. But incubators can help improve a startup’s chances of success.

If you are in the Houston area and looking to partner with a small business incubator, visit the UH Technology Bridge, The Cannon, The Rice Alliance or any of the other many incubators in the area.

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This article originally appeared on the University of Houston's The Big Idea. Cory Thaxton, the author of this piece, is the communications coordinator for The Division of Research.

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Taking these first steps will help you determine if entrepreneurship is a good fit. Graphic by Miguel Tovar/University of Houston

University of Houston: First steps toward faculty entrepreneurship

houston voices

If you are a faculty inventor, you’re likely also interested in becoming a faculty entrepreneur. Aspiring to be an entrepreneur is the first step, but what should you do next?

Take action

Bruce Fischer, professor of business and economics at Elmhurst University, said in a blog post that “above all, you should take action” and not procrastinate.

Fischer suggests taking a course in entrepreneurship that covers the fundamentals of management.

Your university is a great place to start. For instance, the University of Houston houses the Gulf Coast chapter of the Small Business Development Center, which offers in-person and online trainings as well as free business advising.

The Bauer School of Business at UH also has programming suited to entrepreneurs at various stages of experience. Depending on where you live corporate, nonprofit, and government-sponsored startup development organizations may also provide resources to introduce you to the fundamentals of entrepreneurship.

Find a mentor

Fischer also stresses the importance of finding a mentor. Find someone, maybe someone you know, that is already in the entrepreneurial space. Maybe they already have their own business, and they can give you help on your entrepreneurial journey.

The Associate Director of Startup Development at UH, Tanushree Chatterji, offered some advice for first time entrepreneurs.

“Networking is the key. Going to every relevant event and introducing yourself and talking about what you are doing is the most effective way to network. There are a lot of folks looking to mentor, you have to find them,” she said.

One way to get the conversation going is to reach out to your university’s office of technology transfer.

What's the big idea?

If you are a creative and passionate person, then maybe entrepreneurship is right for you. Taking these first steps will help you determine if entrepreneurship is a good fit while giving you exposure to the fundamentals of establishing your own business.

Fischer leaves us with some parting words of encouragement: “Don’t be afraid to ask for help. Entrepreneurs are a close community because they can relate to one another through their shared experiences.”

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This article originally appeared on the University of Houston's The Big Idea. Cory Thaxton, the author of this piece, is the communications coordinator for The Division of Research.

Go and get connected to this global research system. Graphic by Miguel Tovar/University of Houston

University of Houston: New open index of scholarly articles helps researchers connect

houston voices

We have all needed scholarly articles to cite in our academic careers. Now, there is a place where researchers can get millions of them, all on one site.

Named after the Library of Alexandria, OpenAlex is an index of over 200 million scientific documents including publication sources, author information and research topics that can be used to conduct studies and build research tools. According to its founders, the goal of this index is to “create a comprehensive, interlinked database of the global research system.”

So, how can researchers use this database and why is it beneficial?

More data

After Microsoft announced the closure of the Microsoft Academic Graph, a non-profit scholarly service firm, OurResearch, created OpenAlex.

OpenAlex gets its information from MAG and other sources. It also integrates with Unpaywall, which has over 30 million articles. This allows for access to much more information.

There are not just free articles to read, but OpenAlex will also tell you the license and the version of the articles.

OpenAlex updates every two weeks and brings in even more data from its other sources. With all this extra information, researchers have everything they need to conduct studies using scholarly articles by their peers.

Free and easy to use

Who doesn’t like free stuff? Everyone does! OpenAlex is 100% free to use. You don’t have to register for anything or sign in every time. You just go to the website and look for what you need.

According to one researcher, “for somebody who is more computer savvy, MAG might be easier… For researchers who want to try small projects on their own, OpenAlex will be way easier to start with.”

While it can take several days to a week to get started on MAG, it only takes a few hours on OpenAlex.

What's the big idea?

If you’re a researcher looking for an open index of millions of scholarly articles, you should try OpenAlex. A more user-friendly search engine will be added in February, making it that much easier to use the site. OpenAlex’s goal is to make connections between an expansive database of scholarly articles. Go and get connected to this global research system.

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This article originally appeared on the University of Houston's The Big Idea. Cory Thaxton, the author of this piece, is the communications coordinator for The Division of Research.

University of Houston's The Big Idea highlights the three things to consider when starting a business. Graphic by Miguel Tovar/University of Houston

University of Houston research: When's the best time to start a business?

houston voices

Have you ever thought about opening your own business, but you didn’t know when to do it? Maybe you’ve heard the phrase: “the best time to start a business is today.” Is this actually good advice?

Yaro Starak, entrepreneur, blogger and podcaster, answers this question on his blog. Starak highlights three things aspiring entrepreneurs should do first when they decide to open a business.

What to do today:

1. Get prepared 

Starak believes there is some truth to the statement that starting a business today is the best time because it focuses on action and “to take action, means you need to be prepared to do so.”

He says that once you start your business you’ve, at least, taken a step towards being prepared because chances are, you’ll never have the right timing in the beginning. “By starting now, you begin the process of learning and putting in place resources that, in time, will lead you to be prepared for taking advantage of an opportunity when it presents itself,” Starak said.

2. Start building resources

“Whether you succeeded or failed, or pivot to something else, you’re always gaining experience, learning from mistakes, and building resources for your next project, whether they be financial (or capital), mental or skill-based resources,” Starak said. This is why today is the best day to start a business because everything that you do, once you get started, will contribute to you gathering the necessary resources and experiences that will help your business to excel.

3. Start building an audience

Starak believes that, just like the self-help books suggest, “the best asset to work on is yourself,” but that shouldn’t be all you focus on. “Even if you’re not sure if you intend to sell coaching, courses, write books or sell services or software or physical products, your audience is the door to taking advantage of all new opportunities… No attention, means no customers,” Starak said.

According to Starak, marketing and sales are the two most important skills to work on in order to be prepared to start a business. He suggests that aspiring business owners should learn how to use internet resources to post content in order to reach people and build their audience. Then they can use that content to advertise and sell.

What's the big idea?

Now is always the best time to start a new business because even if you’re not quite sure what it’s going to be yet, you can get yourself prepared, start building resources and start building an audience.

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This article originally appeared on the University of Houston's The Big Idea. Cory Thaxton, the author of this piece, is the communications coordinator for The Division of Research.

Should you lead the company that's taking your technology to commercialization? Maybe. But maybe not. Graphic by Miguel Tovar/University of Houston

University of Houston: What should a faculty inventor’s role be in their startup?

houston voices

Are you a faculty member at a university? Are you a researcher with an invention that you want to monetize? Do you want to start your own startup company? If you answered yes to these questions, another question you need to consider is, should you leave your research position at the university to lead your company or get out of the way entirely?

The answer to that question will be different for everyone. Some faculty inventors want to leave and launch a company based on their research. In most cases, faculty members want to keep their university roles. What is the right decision for you?

Douglas Hockard, the assistant vice president of Tech Launch Arizona at The University of Arizona, said, in a Tech Launch blog post, to consider your passion, time and expertise.

Do you have the passion?

Passion is required for anyone to enjoy their chosen career paths. Without passion, you are not going to want to dedicate your time or seek the expertise to become the best.

“Faculty researchers chose their careers intentionally, dedicating years of study and research to arrive where they are today. Most faculty are not interested in abandoning that career path,” Hockard said.

Leading a startup requires the same dedication that it took to get where you are in your university role.

Do you have the time?

A startup is not a part-time job. “While faculty researchers are rarely interested in leaving their career in the university, investors want a committed, and focused, leadership team. More than anything, the startup needs someone to focus full-time… to eschew any other pursuits and devote themselves fully to the success of the startup,” Hockard said.

Do you have the expertise?

Hockard mentions in his blog that there are roles that exist in startups for university faculty. The faculty inventor is the technology expert, and their knowledge will help in the commercialization of their technology. Sometimes there are better ways to support the startup while remaining in your university position.

“A scientific role in the company allows them to help guide the company technology direction while allowing someone else to focus on company formation, strategic planning, business development, and importantly, raising capital. What is most important is aligning the myriad needs of the startup with the knowledge, skills, and singular focus best suited to fulfill those needs,” Hockard said.

What's the big idea?

If you don’t have the passion, the time, or the expertise to run a startup or you just simply want to keep your university, maybe someone else should lead your startup.

“Without a doubt, identifying leadership can be daunting. While the desire might be to zero in on a ‘superstar,’ a startup needs someone that can commit the time and the effort and knows ‘what to do next.’ How can startups find that person?” Hockard said.

Your university’s technology transfer office can provide support and can be a good place for you to start. “TTOs provide myriad resources to help inventors move innovations ahead, including technology and market analysis, intellectual property protection, marketing, and more. Many full-service TTOs also have dedicated personnel to help launch startups based on university technologies.” Of course, it’s up to you who should join the company— especially to lead it— but having the support of “experienced potential partners” will help you make the right decision.

Startups need a lot of resources to become successful. Bringing in someone to help, if you don’t have the passion, time or expertise, could be very beneficial. If you do have all three of those things and you want to leave your university role, then go be the lead in your startup.

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This article originally appeared on the University of Houston's The Big Idea. Cory Thaxton is the communications coordinator for The Division of Research.

There are several things faculty need to think about before even considering spinning out their research. Graphic by Miguel Tovar/University of Houston

University of Houston: How to spin out university research into a startup as faculty

houston voices

Most inventors, whether they are university faculty or not, want to eventually start a company and capitalize on their inventions and research. For university faculty, this could be, or at least seems like a much more difficult thing to do. Why? Well, they already have a full-time job as a professor.

There are several things faculty need to think about before even considering spinning out their research. In his blog post on Y Combinator, Jared Friedman, the Managing Director, Software and Group Partner at Y Combinator and co-founder of Scribd, suggests to first decide if you should spin out and when.

“In a typical spin-out situation, there are several people who worked on the research, including a mix of students, post docs and faculty. The first thing you need to decide is who is going to work on the company and who is going to stay at the university,” Friedman said.

Friedman suggests that the “ideal situation” is for one or more people, who were originally involved in the research and lab work, to leave and start the company as co-founders. “One full-time founder is also ok. One of the people who leave to start the company should be the CEO.”

The others who stay behind at the university usually still want to be involved. Friedman said that this is fine. They are often call “academic cofounders” or “scientific cofounders”.

Leaving something you’re comfortable with, like your university position, can be scary but Friedman says, don’t wait too long, eventually being at a university will start to slow your progress down.

“In the early stages of developing a new technology, you’ll make faster progress still at the university, taking advantage of university resources. It’s the ideal place to do the initial experiments to prove that your idea could work. There’s a temptation to make the technology perfect before spinning out, and there’s always ‘one more experiment’ you could do. If you don’t stop this cycle, you’ll never leave,” Friedman said.

So, after you’ve decided you want to spin your research out and when, what do you do next?

Split the equity

Friedman offers two rules on how you should do this.

1) Founders who will be working on the company full-time should get equal or nearly equal amounts of equity.
2) Founders who will be leaving their job to work at the company full-time should get much more equity than founders who are going to remain in academia. Academic cofounders should typically own no more than 10% unless they are going to continue to be hands-on.
Jared Friedman, “How to spin your scientific research out of a university and into a startup”

The point of allocating equity is not to reward past contributors from the university but instead to anticipate new ones. It’s going to take an exceptionally long time to make a new company successful. The academic founders may have been helpful at first, but it’s those full-time founders that will take the company all the way. “The equity split between founders has to reflect the expected contributions over time.”

Sometimes, this means “the founders who leave will end up with much more equity than their former boss. This can be an awkward conversation, but it’s entirely sensible.”

Connect with your transfer office

If you want to commercialize the research that you started at your university, you will need to negotiate the right to the intellectual property with the university’s office of technology transfer.

Friedman mentions FOUR “key terms” in these types of agreements.

Equity

“Typically, the university will get equity in the company. This is ok as long as it is not too much. 3-5% is typical. Above 10% will cause problems.”

Royalty

“This means that you pay a percentage of revenue or profits to the university. If this is too high, it can affect the viability of the company to raise money and operate. Ideally you would make this zero. If you can’t do that, try to keep it < 5%, and to have it terminate after a certain number of years and/or a certain level of payments.”

Milestone Payments

“I.e., ‘You owe us $250K when the company raises its first $10M,’ or ‘You owe us $500K when you reach Phase II clinical trials.’ Because cash is scarce in the early days of a startup, you want to keep these as low as possible. You should never need to spend more than a few percent of the money you raise.”

Exclusivity

“If a license is not exclusive, the university could theoretically turn around and license the same IP to a big company to go compete with you. This sounds like a real problem, but often it’s not. For many inventions, in practice other companies won’t know how to use the IP and won’t value it until you’ve done years of work further developing it (at which point the university-owned IP isn’t sufficient). It may be optimal to have a non-exclusive license initially with an option to make it exclusive later, or a right of first refusal clause.”

Friedman also offers some advice on how to negotiate these agreements. First, start talking with these offices ASAP. This will give you more time to work out an agreement that you like, and you can learn how the tech transfer office works.

Also, “don’t wait for the agreement to start the company. Getting an agreement can take 6 months or longer. Many investors will fund companies before they have an agreement in place. The more progress you make on the company, the more leverage you have in the negotiation,” Friedman said.

Most importantly, get advice from other founders that have agreements with the same office to see what worked for them. You can also ask inventors, lawyers and other advisors what your best course of action is.

After spinning out

Friedman said, the first thing to do, once you’ve spun out, is to incorporate your company. He also said that it would probably make sense to keep collaborating with your university.

“In some cases, you may want to continue doing experimental work using university labs. University core facilities are commonly available to companies, albeit for higher fees. It’s possible to save a lot of money using university resources instead of buying equivalents commercially. That’s fine, as long as it isn’t slowing you down significantly and doesn’t create IP issues. Unfortunately, there is often a tradeoff between speed and cost,” Friedman said.

The big idea

The adjustment from academia to running a company is big and there are plenty of things to consider before even getting to that point. You should determine if you should even spin your research out of the university. If you decide you should, then decide when.

Once you’ve done that, then you must consider how to split the equity, negotiate with your university’s tech transfer office and continue collaborating with your university even after the spin out is successful.

A full understanding of everything that should be done when starting a business is the best way to set yourself up for success.

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This article originally appeared on the University of Houston's The Big Idea. Cory Thaxton is the communications coordinator for The Division of Research.

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Houston Innovation Awards to honor Wade Pinder as 2025 Trailblazer

And the award goes to...

On Nov. 13, we'll gather for the 2025 Houston Innovation Awards to celebrate the best and brightest in Houston innovation right now. And, as is tradition with the annual program, we'll honor one longstanding Houston innovator with the Trailblazer Award.

The award was established to recognize an individual who has left a profound impact on Houston's business and innovation ecosystem and is dedicated to continuing to support Houston and its entrepreneurs. The recipient is selected by our esteemed panel of judges from a pool of internal and external recommendations.

The 2025 Trailblazer Award recipient is Wade Pinder of Product Houston. A familiar face to those active in Houston's innovation sector, Pinder identifies as an "Ecosystem Wayseeker" and is the founder of Product Houston.

Pinder, a former product manager at Blinds.com, arrived in Houston in 2008 and has been deeply engaged in Houston’s startup and innovation scene since 2012. Over the years, he has supported hundreds of founders, product leaders, and community builders across the Houston area.

In 2023, he was honored as Mentor of the Year in the Houston Innovation Awards. Today, he fosters collaboration, clarity, and connection through his work at Product Houston, and he helps innovators find their place in the local sector via his monthly "Houston Ecosystem Mapping" sessions.

Read below for Pinder's insightful takes on the Houston innovation scene and what it means to blaze a new trail. Then, join us as we celebrate Pinder and all of our nominees and winners at the 2025 Houston Innovation Awards on Nov. 13 at Greentown Labs. Tickets are available now.

InnovationMap: Describe the growth of the Houston innovation ecosystem from your arrival in 2008 to now.

Wade Pinder: When I first arrived in Houston in 2008, the innovation ecosystem was more fragmented than it is today. Connecting with other innovators often meant attending a lot of hit-or-miss events. Over the years, it’s been incredible to see the network take shape and grow into a true community. I’ve had the privilege of being involved with several coworking spaces and accelerator programs along the way, and it’s been especially exciting to see Station Houston evolve into what is now the Ion District. What makes the Ion unique is how it blends openness and opportunity… ideas spill into and out of the space, and anyone can walk in, participate in programming, and find themselves in proximity to people who might help them take the next steps.

Additionally, the expansion of spaces like Texas Medical Center Innovation, Helix Park, The Cannon, and many others, have broadened Houston’s innovation landscape in powerful ways.

Today, when someone new moves to Houston and wants to plug into the startup and innovation scene, it’s much easier for them to find their way than when I moved here in 2008. I think that’s something Houston can really be proud of.

IM: As someone who engages with the broader Houston innovation community on a regular basis, what are the shared characteristics and traits that you see among its members?

WP: One of the things that makes Houston’s innovation community unique is how deeply it’s rooted in industry. So many of the innovators I meet come from within Houston’s major sectors, and they’ve seen firsthand where opportunities lie, which gives their innovation a certain practicality. They’re developing solutions that solve real, often complex, business and industry problems, not chasing trends or trying to create the next flashy consumer app.

What I admire most is that this community is growing in its understanding of the value of collaboration. They work with the systems and expertise that already exist, and find better ways to make them work together. Another shared trait I see across Houston’s innovators is a deep sense of curiosity and a drive to question the status quo while looking for better ways to build, improve, and solve.

IM: You’ve said, "Houston has Houston problems, and Houston needs Houston solutions." How do you see this taking shape in the innovation sector right now?

WP: When I first started getting connected to Houston’s startup and innovation scene in 2012, I noticed folks had a tendency to look at other cities and ask, "How can we do what they did?" Back then, we saw phrases like "Silicon Bayou" pop up, and while that enthusiasm was hopeful, it often discounted the things that make Houston unique. Over time, I’ve come to believe that the better question is: "What are we already great at, and how can we innovate from there?" The flip side of that question is to reflect on the things that hold us back as an ecosystem… identifying the friction points and finding practical ways to smooth them out.

From my time wandering around our ecosystem, I’ve come to understand Houston is great at infrastructure at scale, solving life-and-death challenges in the global spotlight, and "boldly going where no one’s gone before." These three things, in my opinion, capture the essence of Houston does best: We do hard things here.

What excites me today is that we’re applying innovation to those core strengths in ways that feel authentically Houston. One area I’m especially excited about is the emergence of the “New Space Economy,” captured beautifully in Wogbe Ofori’s thought piece “The Astropreneur’s Startup Journey Map.” It's a great example of how the next wave of space-related innovation might connect to Houston’s long-standing strengths in manufacturing, logistics, and problem-solving at scale.

Another challenge Houston faces is what I call a "proximity problem." Even when events are only a few miles apart, traffic can make it difficult for people to stay connected across the city. That’s why I’m so encouraged by the rise of what I think of as "intent-based gatherings" around the city: events designed with purpose, where people know they’ll find real connection and value once they arrive.

IM: Finally, what does being a "Trailblazer" mean to you?
WP: To me, trailblazing in the Houston innovation ecosystem means being willing to wander through the many different corners of the community and look for value in places we often overlook. It’s about showing up at events, community meetings, and pitch competitions — not just to participate, but to notice how each of these "nodes" in the ecosystem connects and adds value to the others.

Sometimes the trailblazer only walks a trail once: as they are discovering it. If you can help others see a newfound trail’s purpose and potential, it becomes a path others can follow more easily in the future. That’s the real work of a trailblazer: mapping connections, framing their value, and helping people recognize how those pathways strengthen the ecosystem as a whole.

In a broader sense, trailblazing is about seeing things not just as they are, but as they could be. Then taking the steps, however small, that make that vision real.

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The Houston Innovation Awards program is sponsored by Houston Community College, Houston Powder Coaters, FLIGHT by Yuengling, and more to be announced soon. For sponsorship opportunities, please contact sales@innovationmap.com.

Houston-area VC funding sunk to 5-year low in Q3 2025, report says

by the numbers

Fundraising for Houston-area startups experienced a summertime slowdown, sinking to a five-year low in the third quarter, according to the latest PitchBook-NVCA Venture Monitor.

The PitchBook-NVCA Venture Monitor shows startups in the Houston metro area attracted $204.4 million in venture capital from June through August. That’s 55 percent below the total for the previous quarter and 51 percent below the total for the third quarter of 2024.

More telling than those figures is that the third-quarter haul dropped to its lowest total for Houston-area startups since the fourth quarter of 2020, when $133.4 million in VC was raised. That was the third full quarter after health officials declared the pandemic in the U.S.

In Q3 2025, AI accounted for nearly 40 percent of VC deal volume in the U.S., Kyle Stanford, director of U.S. venture research at PitchBook, said in the report. And through the first nine months of 2025, AI represented 64 percent of U.S. deal value.

VC deal activity “has been nearly steady, emphasizing a consistent influx of companies, especially at the pre-seed and seed stages,” Stanford said. “Large deals remain the primary driver of market deal value, with almost all of these deals focused on AI.”

Bobby Franklin, president and CEO of NVCA, said that while fundraising hasn’t returned to pre-pandemic highs, deal values are going up in sectors such as AI, manufacturing, robotics and space tech, many of which have already exceeded their investment totals for all of 2024.

Meet 6 of the fastest-growing scaleup companies in Houston right now

meet the finalists

From raising funding rounds to earning FDA acceptance, some of Houston's most innovative companies have reached major milestones this year.

The 2025 Houston Innovation Awards will recognize their progress by bringing back our Scaleup of the Year category for the second year. The award honors an innovative later-stage startup that's recently reached a significant milestone in company growth.

Six breakthrough businesses have been named finalists for the 2025 award. They range from climatetech startups to a biotech company developing new drugs for neurodegenerative diseases and more.

Read more about these businesses and their impressive growth below. Then join us at the Houston Innovation Awards on Nov. 13 at Greentown Labs, when the winner will be unveiled at our live awards ceremony.

Tickets are now on sale for this exclusive event celebrating all things Houston Innovation. Corporate 10-packs, featuring reserved seating and custom branding, and individual tickets are still available. Secure your seats today.

Coya Therapeutics

Clinical-stage biotechnology company Coya Therapeutics (NASDAQ: COYA) has developed COYA-302 that enhances anti-inflammatory T cell function and suppresses harmful immune activity. The drug candidate is being advanced for several neurodegenerative diseases—including ALS, Alzheimer’s, Parkinson’s, and frontotemporal dementia—and has demonstrated promising reductions in neuroinflammation in preclinical and early clinical studies, according to the company.

Coya, founded in 2021, received FDA acceptance for its investigational new drug application for COYA-30 this summer. It closed its IPO in January 2023 for more than $15 million and added $26 million in PIPE funding that same year. Last year, the company secured an additional $15 million in PIPE funding.

Fervo Energy

Houston-based Fervo Energy is working to provide 24/7 carbon-free energy through the development of cost-competitive geothermal power. The company is developing its flagship Cape Station geothermal power project in Utah, which is expected to generate 400 megawatts of clean energy for the grid. The first phase of the project will supply 100 megawatts of power beginning in 2026. The second phase is scheduled to come online by 2028.

The company raised $205.6 million in capital to help finance the project earlier this year and fully contracted the project's capacity with the addition of a major power purchase agreement from Shell. Founded in 2017 by CEO Tim Latimer and CTO Jack Norbeck, Fervo is now a unicorn, meaning its valuation as a private company has surpassed $1 billion. In March, Axios reported Fervo is targeting a $2 billion to $4 billion valuation in an IPO.

Koda Health

Houston-based Koda Health has developed an advance care planning platform (ACP) that allows users to document and share their care preferences, goals and advance directives for health systems. The web-based platform guides patients through values-based decisions with interactive tools and generates state-specific, legally compliant documents that integrate seamlessly with electronic health record systems. The company also added kidney action planning to its suite of services for patients with serious illnesses last year.

Koda Health was founded out of the TMC's Biodesign Fellowship in 2020 by CEO Tatiana Fofanova, chief medical officer Dr. Desh Mohan, and chief technology officer Katelin Cherry. The company raised a $7 million series A earlier this year, and also announced major partnerships and integrations with Epic, Guidehealth, Medical Home Network, Privia Health and others.

Mati Carbon

Houston climatetech company Mati Carbon removes carbon through its Enhanced Rock Weathering (ERW) program that works with agricultural farms in Africa and India. Mati says the farmers it partners with are some of the most vulnerable to the impacts of climate change. The nonprofit won the $50 million grand prize in the XPRIZE Carbon Removal competition, backed by Elon Musk’s charitable organization, The Musk Foundation, earlier this year.

Mati Carbon scaled operations in India, Zambia, and Tanzania this year and has advanced its proprietary measurement, reporting and verification (MRV) platform, known as matiC, enabling seamless field data capture, chain-of-custody and carbon accounting at scale. The company was founded in 2022 by co-directors Shantanu Agarwal and Rwitwika Bhattacharya.

Molecule

Houston-based Molecule Software has developed an energy trading risk management (ETRM) platform that allows companies trading power, oil and gas, biofuels, renewables and more stay ahead as the markets evolve.

The company closed a Series B round earlier this year for an undisclosed amount. Sameer Soleja, founder and CEO of Molecule, said at the time that the funding would allow the company to "double down on product innovation, grow our team, and reach even more markets." The company was founded in 2012 by CEO Sameer Soleja and participated in the Surge Accelerator the same year.

Utility Global

Houston-based Utility Global has developed its proprietary eXERO technology that produces low-cost, clean hydrogen from water and industrial off-gases without requiring grid electricity.

First founded in 2018 by CEO Parker Meeks, the company participated in Greentown Labs and the Rice Alliance for Technology and Entrepreneurship programs. It raised a $55 million funding round earlier this year and launched commercial partnerships with ArcelorMittal Brazil and Hanwha Group in South Korea to deploy its hydrogen solutions at scale.

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The Houston Innovation Awards program is sponsored by Houston Community College, Houston Powder Coaters, FLIGHT by Yuengling, and more to be announced soon. For sponsorship opportunities, please contact sales@innovationmap.com.

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