This week's roundup of Houston innovators includes Vibhu Sharma of InnoVent Renewables, Ashley DeWalt of DivInc, and Josh Teekell of SmartAC.com. Photos courtesy

Editor's note: Every week, I introduce you to a handful of Houston innovators to know recently making headlines with news of innovative technology, investment activity, and more. This week's batch includes three innovators across sports tech, clean energy, and more.

Vibhu Sharma, founder and CEO of InnoVent Renewables

Vibhu Sharma of InnoVent Renewables joins the Houston Innovators Podcast. Photo via LinkedIn

Vibhu Sharma observed a huge sustainability problem within the automotive industry, and he was tired of no one doing anything about it.

"Globally, humans dispose 1 billion tires every year," Sharma says on the Houston Innovators Podcast. "It's a massive environmental and public health problem because these tires can take hundreds of years to break down, and what they start doing is leaking chemicals into the soil."

Today, 98 percent of all tires end up in landfills, Sharma says, and this waste contributes to a multitude of problems — from mosquito and pest infestation to chemical leaks and fire hazards. That's why he founded InnoVent Renewables, a Houston-based company that uses its proprietary continuous pyrolysis technology to convert waste tires into valuable fuels, steel, and chemicals. Continue reading.

Ashley DeWalt, managing director of DivInc

Ashley DeWalt shares news of DivInc's newest partnership. Photo courtesy of DivInc

DivInc, a Texas-based accelerator focused on uplifting people of color and women founders, is collaborating with the NBA Foundation to provide Black Houston youth with paid internships at tech startups.

Leveraging its expansive portfolio of startups, DivInc will pair 25 Houston-based undergraduate and graduate students (ages 18 to 24) with tech companies the nonprofit has mentored. The 10-week internship program will provide students with professional development workshops and firsthand entrepreneurial experiences. The program also ensures a symbiotic relationship as the startups’ founders gain access to an expanded talent pool and further development opportunities via DivInc.

"We are thrilled to partner with the NBA Foundation to bring this transformative opportunity to life," says Ashley DeWalt, managing director of DivInc. "Together, we are bridging the gap between talent and opportunity, creating meaningful experiences that empower Black youth to lead in their communities and beyond." Continue reading.

​Josh Teekell, founder and CEO of SmartAC.com

\u200bJosh Teekell, founder and CEO of SmartAC.com

Josh Teekell shares news of SmartAC's latest funding. Photo courtesy

Houston-based SmartAC.com, which provides a customer loyalty management platform for contractors, has raised a follow-on round from Mercury Fund and other investors. The dollar amount of the round wasn’t disclosed.

An October filing with the U.S. Securities and Exchange Commission (SEC) indicates SmartAC.com planned to raise $8.2 million in venture capital. Of that sum, about $4 million had already been raised, the company reported, and nearly $4.2 million remained to be raised.

“Growing a business in the trades is all about customer loyalty, and loyalty is driven by optimizing the customer’s experience,” Josh Teekell, founder and CEO of SmartAC.com, says in a news release. Continue reading.

DivInc announced a collaboration with NBA Foundation to fund and organize tech internships for Black Houston youth. Photo courtesy of Major Level Creative

Accelerator partners with NBA Foundation to provide Black Houston youth with tech internships

GAME ON & GIVE BACK

DivInc, a Texas-based accelerator focused on uplifting people of color and women founders, is collaborating with the NBA Foundation to provide Black Houston youth with paid internships at tech startups.

Leveraging its expansive portfolio of startups, DivInc will pair 25 Houston-based undergraduate and graduate students (ages 18 to 24) with tech companies the nonprofit has mentored. The 10-week internship program will provide students with professional development workshops and firsthand entrepreneurial experiences. The program also ensures a symbiotic relationship as the startups’ founders gain access to an expanded talent pool and further development opportunities via DivInc.

"We are thrilled to partner with the NBA Foundation to bring this transformative opportunity to life," says Ashley DeWalt, managing director of DivInc. "Together, we are bridging the gap between talent and opportunity, creating meaningful experiences that empower Black youth to lead in their communities and beyond."

In 2024, DivInc connected 30 students with paid internships at 13 companies as part of a program sponsored by Blackstone Launchpad. Students gained hands-on experience in marketing, product development, and web development.

DivInc previously partnered with the Houston Rockets, among other sports teams, for mentorship opportunities during its 2024 Sports Tech Accelerator. DivInc’s portfolio of startups incorporates a range of sports tech companies including a fitness app, NFT marketplace for athletes, an AR/VR learning platform for athletes, and other technologies geared towards improving athletic performance.

Since its inception in 2020, the NBA Foundation has disbursed nearly $125 million in grants to nonprofits, focused on increasing career opportunities and economic equality for Black youth.

“Providing grants to organizations in communities that need it most is one of the most fulfilling aspects of the NBA Foundation’s mission to create economic opportunity for Black youth,” Ruth Jurgensen, executive director of the NBA Foundation, says in a statement.

Houston students can apply for the internship program here. Applications are due by January 31, 2025.
Fan engagement, big partnerships, and cohorts announced — these were the top sports tech news articles this year. Photo via Getty Images

Looking back: Top 5 most-read Houston sports tech stories of 2024

year in review

Editor's note: As the year comes to a close, InnovationMap is looking back at the year's top stories in Houston innovation. Houston is a city primed for sports tech innovation — with its collection of major sports teams, vibrant population, and tech workforce. Here are five sports tech news stories that stood out to readers this year — be sure to click through to read the full story.

10 sports tech startups named to Houston-based hybrid accelerator

Introducing the 10 startups participating in the Spring 2024 cohort of the DivInc Sports Tech Accelerator, a hybrid program based in the Ion. Photo via DivInc.com

DivInc has named its latest sports tech-focused cohort of its hybrid accelerator that is housed out of the Ion.

The Sports Tech Accelerator has selected the 10 companies — with technology across human performance, fan experience, and more — for its 13th cohort to participate in the 12-week hybrid program this month and through July.

The program receives support from underdog venture team, Women In Sports Tech, The Collectiv, and HTX Sports Tech, with partners Bank of America, J.P. Morgan Chase & Co., Gunderson Dettmer, Brown Advisory, Ion, and Mercury. Continue reading.

High-tech virtual racing experience to rev up in Houston

Houston is getting 16 racing simulators, each equipped with full motion systems and immersive, 180-degree panoramic displays. Photo by Dylan McEwan

Come next year, some high-speed and high-tech race simulators will be added to one of Houston's growing districts.

Velocity - Sim Racing Lounge, described in press materials as Houston’s first premium simulation racing experience, is slated to open in early 2025 at 2110 Edwards St.Velocity will bring sim racing to Houston through 16 racing simulators, each equipped with full motion systems and immersive, 180-degree panoramic displays. The goal is provide customers with a truly authentic, virtual driving experience.

Customers will have the ability to virtually drive sports cars from iconic brands like Porsche and Lamborghini and race on world famous tracks, including the Circuit of the Americas, Laguna Seca, and the Silverstone Circuit. Classic roads, such as California’s Pacific Coast Highway, provide a more leisurely alternative to driving flat out. Continue reading.

Rice University announces partnership with Houston sports tech startup to enhance student athletics

Rice University's athletic programs will be supported by Houston startup BeOne Sports' technology. Photo courtesy of Rice University

Rice University — in an effort to enhance athletics and research-driven innovation — has formed a partnership with a startup founded by its alumni.

BeOne Sports, a sports performance technology company developed a platform for mobile motion-capture AI and advanced data analytics, will integrate its technology within Rice's sports medicine and rehabilitation programs.

“This partnership aligns perfectly with Rice University’s mission to harness innovation for the betterment of our community,” Rice President Reginald DesRoches says in a news release. “By integrating cutting-edge technology from BeOne Sports with our already world-class athletic and academic programs, we are providing our student athletes with the tools they need to excel both on the field and in life. This collaboration is a testament to Rice’s commitment to leading through innovation and offering unparalleled opportunities for our students.” Continue reading.

Diversity-focused sports tech accelerator opens applications to Houston innovators for the first time

Calling all sports tech startups founded by Black or Hispanic innovators. Photo via Getty Images

A global organization has announced it's opening applications to its equity-focused sports tech accelerator to Houston founders for the first time.

Thanks to a collaboration with Impact Hub and Black Ambition, the adidas Community Lab has expanded its footprint and is now accepting applicants from new markets, including Houston, Toronto, Los Angeles, Atlanta, and New York, for its 2024-2025 cohort.

The initiative, which has been running for three years, has a goal of supporting Black and Latino/a/e founders with mentorship, pitch training, event programming, and networking. The eight-month program also has $75,000 in grant funding to dole out to participants as well. Continue reading.

Houston sports tech startup aims to optimize unsold resale ticket market with new platform

Looking to score the best deal on your next game ticket? A new Houston-founded app promises to revolutionize the resale market. Photo via Getty Images

Online platforms have long simplified the process of buying, selling, and trading event tickets. But what happens when your tickets don’t sell or when you’re stuck with costly season tickets you can’t use? You might end up giving them away or leaving them unused, leading to a financial loss either way.

This is the challenge that Houstonian Jerin Varkey is willing to address with Offer Approved, a new platform that empowers sellers and buyers, guaranteeing that no seat goes unused.

The idea took root around two years ago when Varkey, a passionate sports fan and season ticket holder, faced a new challenge. After becoming a parent, he found himself unable to attend every game. Frustrated with traditional resale platforms, he quickly realized that high fees and limited time made it difficult to sell all his tickets, causing him to lose money each time. Continue reading.

The grant from Rice is part of "several financial commitments" the university is making to support inclusivity at the Ion District. Photo courtesy of The Ion

Houston university awards grant to Texas accelerator to support sports tech

game on

Rice University awarded DivInc. an $800,000 grant this month to support its work in sports technology.

The Texas-based company, which operates numerous accelerators, focuses on BIPOC and female founders working toward social and economic equity through entrepreneurship. The grant from Rice is part of "several financial commitments" the university is making to support inclusivity at the Ion District.

DivInc runs its Sports Tech Accelerator out of The Ion, which recently named its latest cohort for the 2024 Sports Tech Accelerator.

“We’ve been in Houston since 2021, so we’re extremely honored and grateful to partner with Rice University,” Preston James, CEO and founder of DivInc, said in a statement. “Leveraging the top university sports management program in the U.S., Rice’s highly ranked sports medicine and sport analytics programs, we’re providing exceptional value to our portfolio of companies ... Sports tech is a vast and rapidly growing industry that represents a tremendous opportunity for diverse founders.”

Among the 10 companies selected for DivInc's current 12-week sports accelerator are a cash-back powered marketplace designed for the golf industry, a scouting automation software, an artificial intelligence company that collects real-time biometrics on athletes, and others.

Selected founders can receive up to $100,000 and access to curriculum, as well as mentorship from executives from the Houston Rockets, Houston Astros, San Antonio Spurs, Rice Alliance for Technology and Entrepreneurship, Mercury Fund, The Collectiv, HTX Sports Tech and more.

“We have strategically created one of the nation’s premier accelerator programs in Houston, Texas, dedicated to supporting BIPOC and women founders driving innovation in the sports industry by leveraging best practices and insights from stakeholders within the sports tech ecosystem,” Ashley DeWalt, DivInc’s managing director of startups and programs, said in a statement.

DivInc also launched its first DWeb for Social Impact Accelerator from the Ion last fall. The 12-week intensive hybrid program sponsored by Filecoin Foundation for the Decentralized Web, supported nine companies, all of whom integrate Web3 technologies into their impact entrepreneurship, and each of the companies selected were awarded a non-dilutive $10,000 grant to use during the course of the program.

Introducing the 10 startups participating in the Spring 2024 cohort of the DivInc Sports Tech Accelerator, a hybrid program based in the Ion. Photo via DivInc.com

10 sports tech startups named to Houston-based hybrid accelerator

game on

DivInc has named its latest sports tech-focused cohort of its hybrid accelerator that is housed out of the Ion.

The Sports Tech Accelerator has selected the 10 companies — with technology across human performance, fan experience, and more — for its 13th cohort to participate in the 12-week hybrid program this month and through July.

The program receives support from underdog venture team, Women In Sports Tech, The Collectiv, and HTX Sports Tech, with partners Bank of America, J.P. Morgan Chase & Co., Gunderson Dettmer, Brown Advisory, Ion, and Mercury.

The spring 2024 cohort includes:

  • Detroit-based Athlytic, which uses real-time data to develop a recommended minimum price per social platform for creator-athletes.
  • Ballin AI, from Tulsa, Oklahoma, is a unique scouting automation software, transforming the labor-intensive scouting process into a streamlined, data-driven operation that boasts improved efficiency over manual work.
  • Cache AI, founded in Bronx, New York, is a platform that uses AI to generate a score for athletes that brands can use to value them without bias.
  • Prosper, Texas-based DRAFTED is a platform to support the of Latina community in sports through digital storytelling, weekly newsletters, in-person and virtual programming, and collaborative brand partnerships.
  • From Chicago, Drip Tech Co. created an artificial intelligence concierge software that provides real-time hydration monitoring, digestible data, and actionable insights to both athletes and coaches.
  • Canadian company, Drive Hockey, founded in Coquitlam, British Columbia, developed an advanced skill-tracking system for aspiring young hockey athletes using sensors and AI technology to make NHL-level analytics simple & affordable for 120,000 amateur hockey teams.
  • Cincinnati, Ohio-based LunchTable is working on a fan activation and engagement platform that can mobilize fans into digital brand ambassadors.
  • Parscape, co-located in Chicago and Los Angeles, is a rewards and cash-back powered marketplace designed for the golf industry. Houston-based TRAINR is a platform for sports and performance coaches that offers booking, payments, taxes, CRM, content creation, financial services, nationwide access to training locations, and more.
  • From Rochester, New York, WEVOLV is working to improve decision making and a more equitable industry for athletes by using human and artificial intelligence and democratizing access.
DivInc's newest accelerator based in Houston will support Web3 companies with a social impact. Photos courtesy of DivInc

Texas organization announces inaugural cohort of social enterprise startups with Web3 tech

Dedicated to DWeb

A Texas-based accelerator focused on helping BIPOC and female founders on their entrepreneurial journeys announced the inaugural class for its newest accelerator.

DivInc's DWeb for Social Impact Accelerator, a 12-week intensive hybrid program sponsored by Filecoin Foundation for the Decentralized Web, will mentor nine companies, all of whom integrate Web3 technologies into their impact entrepreneurship. Participating startups will have access to the Ion’s resources and receive a non-dilutive $10,000 grant to use during the course of the program.

Cherise Luter, marketing director at DivInc, says the Austin-based development program instead chose Houston to host this inaugural cohort because they have a secure partnership with the Ion and other premiere partners in the area, including Mercury, JP Morgan, and Bank of America.

“The team that we already have in place in Houston is so strong, we thought, this would be a great place to launch this concept and then from there determine if we want to launch it in Austin,” Luter says.

Amanda Moya, director of programs for DivInc, says this accelerator will truly be hybrid, enabling entrepreneurs from around the country to benefit from quality virtual mentorship and four weeks of in-person training.

“We want to really engulf them in the Houston innovation ecosystem, to let them know that this is also a landing pad if they are ever to move or travel around and come back to Houston,” Moya mentions.

One Houston-based startup, CultureLancer, will be participating in the program. A career-focused platform that matches students from HBCU with companies looking to hire in the fields of business development, data analysis, marketing, and operations, CultureLancer provides students with project-based learning opportunities.

Brianna Brazle, CultureLancer founder and therapist, says after discussing with friends and family members their struggles to get hired post-graduation she uncovered an underserved market of people in need of career guidance.

“That’s a problem that has been existing and then after doing more research I learned historically about 56%, year over year, of college graduates find themselves unemployed or underemployed,” Brazle explains. “My first solution to this problem was a hybrid marketplace.”

The rest of the inaugural cohort includes one to two entrepreneurs from the following companies:

  • Craftmerce, based in Dallas, is a B2B technology platform that brings African artisans and mainstream retail partners together through distributed production, enterprise management, and financing tools.
  • Instarails is working to simplify cross border payments through their API which provides the option to make instant global payments regardless of currency.
  • Looks for Lease, a Los Angeles based wardrobe rental company is combating the carbon emissions brought on by the fashion industry through their circular consumerism business model which operates on an AR platform.
  • Motherocity is an app that allows postpartum moms to track their mental and physical health through personal insights, experiential data, data science, and artificial intelligence, all the way through the first year after giving birth.
  • Salubata combines sustainable fashion and tech through their shoes made from old plastic bottles and integrating an NFT component that allows access to new shoe designs for customers.
  • Seed At The Table is a crowdfunding platform connecting marginalized founders with non-accredited investors, founded by a former Goldman Sachs investment manager.
  • Tribe is a mental health mobile app aiming to make mental healthcare affordable and accessible to black people through their directory of black therapists whose patients can directly book appointments within the app.
  • Subler, which was founded by a Los Angeles high school board member, is a digital marketplace that allows schools to rent out their unused spaces to local community groups.

The program will run from Sept. 18 until their demonstration day which is scheduled for Dec. 7 at the Ion.

DivInc, which runs several accelerators across Texas, originally partnered with the Ion in 2020. The organization introduced its new DWeb program earlier this year.

Last month, DivInc also introduced its inaugural cohort to another new diversity-focused accelerator. The 2023 Clean Energy Tech accelerator program sponsored by Chevron and Microsoft is currently ongoing.

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Tesla recalling more than 375,000 vehicles due to power steering issue

Tesla Talk

Tesla is recalling more than 375,000 vehicles due to a power steering issue.

The recall is for certain 2023 Model 3 and Model Y vehicles operating software prior to 2023.38.4, according to the National Highway Traffic Safety Administration.

The printed circuit board for the electronic power steering assist may become overstressed, causing a loss of power steering assist when the vehicle reaches a stop and then accelerates again, the agency said.

The loss of power could required more effort to control the car by drivers, particularly at low speeds, increasing the risk of a crash.

Tesla isn't aware of any crashes, injuries, or deaths related to the condition.

The electric vehicle maker headed by Elon Musk has released a free software update to address the issue.

Letters are expected to be sent to vehicle owners on March 25. Owners may contact Tesla customer service at 1-877-798-3752 or the NHTSA at 1-888-327-4236.

Houston space tech companies land $25 million from Texas commission

Out Of This World

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

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

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

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

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

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

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

Other recipients were:

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

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

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

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

guest column

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

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

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

Unlocking Growth Potential with AI

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

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

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

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

From Incremental Gains to Transformative Growth

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

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