Houston's market can expect more foreign investment. Photo via Getty Images

Houston is in the midst of a residential real estate "buying bonanza." Now, a new report reveals that the Bayou City is no slouch when it comes to commercial real estate, as well.

In a recent survey released by AFIRE, an industry group for real estate investors, Houston tied for No. 14 on the list of cities favored by foreign real estate investors. Last year, Houston sat at No. 12.

Elsewhere in Texas, foreign real estate investors favored Austin over any other U.S. city for buying property in 2021. Boston ranked second, with Dallas in third place. San Antonio tied for No. 15.

In this year's survey, foreign real estate investors chose apartment buildings as their favorite property type, with warehouses landing at No. 2.

Mike McDonald, vice chairman of commercial real estate services company Cushman & Wakefield, recently told The New York Times that Austin is "the hottest market in the country right now."

"Commercial transactions are likely to pick up in the second half of 2021 and in 2022 as more people get vaccinated, more businesses operate at higher capacity, personal leisure and business travel pick up, and consumer spending rises," the National Association of Realtors noted in a first-quarter report about Austin's commercial real estate market.

Speaking of the Capital City, this is the first time in the 30-year history of the AFIRE survey that a city as small population-wise as Austin has topped the list or even showed up in the top three. Twenty-three percent of those questioned in the survey put Austin in the No. 1 spot, and 33 percent ranked Austin first, second, or third.

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This article originally ran on CultureMap.

A new report from the Greater Houston Partnership found that Houston saw over $33 billion in foreign investments over the past 10 years. Photo by Scott Halleran/Getty Images

Houston sees boom of foreign investment and exports over the past decade

Global city

Throughout the past decade, over 500 foreign-owned companies from 36 countries have planned investments in Houston. The investments are spread across more than 600 deals within 63 industries in Houston. Adding up the amount of disclosed valuations, the total exceeds $33 billion.

The city has a lot to offer these companies from all over the world, says Greater Houston Partnership's senior vice president of research, Patrick Jankowski, in a release.

"These foreign-owned companies came to Houston for a variety of reasons, from being closer to their clients to establishing a beachhead for entering the U.S. market," Jankowski says in the release.

The information is compiled in the new Global Houston report from the GHP that analyzes data on foreign investment over the past decade. The research shows that now

The foreign investment movement greatly impacts the local economy, Jankowski adds.

"It infuses new capital into the region, expands the manufacturing base, helps underpin jobs, facilitates the exchange of ideas and best practices, increases trade, adds to the tax base and stimulates growth," he says.

Aside from the investments, the report found that locally, more than 2,500 Houston manufacturing firms have their hands in global trade. Around 17.3 percent of Houston's economy is related to exports, which amounts to double than what was recorded in 2003, according to the Brookings Institution. The Bayou City regularly leads the nation in exports, such as oil field services, refined products, chemicals, and fabricated metals.

The report also took into account Houston's diversity, which has also evolved over the past 10 years. About one in four residents are born outside the country, and a third of the population growth is attributed to immigrants — who account for 390,000 of the city's new residents. In 2017 alone, foreign-born Houstonians made up almost a third of the total GDP of Houston, or $142.1 billion.

"Over the last couple of decades, Houston's economy has become more diversified," says Bob Harvey, GHP president and CEO, in a news release. "We've surged beyond traditional oil and gas to include a burgeoning energy tech and renewables industry, a thriving life sciences and healthcare sector, and a robust advanced manufacturing ecosystem. And in that time, as this report shows, Houston's trade and investment ties with the rest of the world have grown as well. These global connections are essential to our long-term success."

In 2018, Houston's top five trade partners all increased activity. The top countries are, Mexico ($24.6 billion in 2018, compared to $20.1 billion in 2017), China ($20.3 billion, compared to $18.8 billion in 2017), Brazil ($12.9 billion, compared to $12.6 billion in 2017), The Netherlands ($10.4 billion, compared to $8.6 billion in 2017), and South Korea ($10.3 billion, compared to $6.8 billion in 2017).

By the numbers

Here are some key findings from the report.

  • The Houston/Galveston Customs District handled 289.2 million tons of cargo in 2018, or 33,000 metric tons every hour.
  • The Houston/Galveston Customs District ranked first in the nation in foreign tonnage handled and 7th in the nation by dollar value in 2018.
  • The three ports of Houston, Galveston and Freeport support 343,525 jobs, according to a report from Martin & Associates and Texas A&M University
  • Of Houston's 1.6 million foreign-born residents, 39.8 percent are naturalized (i.e. U.S. citizens). That's up from 32.3 percent a decade ago.
  • Latin America leads among regions of origin for Houston's foreign-born population with 1.02 million people in 2017, up 42 percent from 2008. Asia follows at 409,395, up 37 percent and Africa with 95,017, a 14 percent increase.
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CultureMap Emails are Awesome

Trailblazing Houston entrepreneur brings big ideas to new Yahoo Finance show

tune in

Elizabeth Gore, co-founder and president of Houston's Hello Alice, debuted the first episode of her new video podcast series with Yahoo Finance on Thursday, April 24.

The weekly series, known as "The Big Idea with Elizabeth Gore," will focus on providing information and resources to small business owners and sharing stories of entrepreneurship, according to a news release from Yahoo Finance.

“Entrepreneurs and small business owners drive our country’s economy forward. With a record number of small businesses launching in our communities, my goal is to help every citizen live the American Dream. On the Big Idea, we will break down barriers for entrepreneurs and lift up opportunities for every person wanting to be their own boss,” Gore said in the release.

“By hosting the 'Big Idea' on Yahoo Finance, I’m looking forward to elevating business owners’ stories and providing actionable insights to small business owners at a scale like never before. I am blown away to be joining the number one finance news source that is already trusted by so many.”

Gore was joined by Hello Alice co-founder and CEO Carolyn Rodz in the premiere episode, titled "Got a big idea for a small business? Here's your first step," to discuss the steps they took when launching the business.

Gore and Rodz founded Hello Alice in 2017. The fintech platform supports over 1.5 million small businesses across the nation. It has helped owners access affordable capital and credit and distributed over $57 million in grants to businesses across various industries. The company raised a series C round backed by Mastercard last year for an undisclosed amount and reported that the funding brought the company's valuation up to $130 million at the time.

According to Yahoo Finance, Gore's experience and expertise build on its "mission to be the trusted guide of financial information to all investors, and democratize access to quality content."

“Over the past year, we invested in expanding our programming lineup with the launch of new shows and podcasts, and welcomed new financial creators and influencers into our newsroom,” Anthony Galloway, head of content at Yahoo Finance, added the release. “By diversifying our programming and talent roster, Yahoo Finance is introducing unique points-of-view that make financial topics more engaging, actionable, and personalized. Small business owners are a vital part of our audience, so we’re excited to welcome Elizabeth Gore from Hello Alice, whose insights and expertise will help us serve and connect with this important cohort in meaningful ways.”

The show is available on Spotify, Apple Podcasts, iHeart, Pandora, and Amazon Music for listening. Streamers can view it on yahoofinance.com, Amazon Prime Video, Samsung TV, Fire TV, Vizio, Haystack, DirectTV and other streaming platforms. Watch the premiere here:

7 top Houston researchers join Rice innovation cohort for 2025

top of class

The Liu Idea Lab for Innovation and Entrepreneurship (Lilie) has announced its 2025 Rice Innovation Fellows cohort, which includes students developing cutting-edge thermal management solutions for artificial intelligence, biomaterial cell therapy for treating lymphedema, and other innovative projects.

The program aims to support Rice Ph.D. students and postdocs in turning their research into real-world solutions and startups.

“Our fourth cohort of fellows spans multiple industries addressing the most pressing challenges of humanity,” Kyle Judah, Lilie’s executive director, said in a news release. “We see seven Innovation Fellows and their professors with the passion and a path to change the world.”

The seven 2025 Innovation Fellows are:

Chen-Yang Lin, Materials Science and Nanoengineering, Ph.D. 2025

Professor Jun Lou’s Laboratory

Lin is a co-founder of HEXAspec, a startup that focuses on creating thermal management solutions for artificial intelligence chips and high-performance semiconductor devices. The startup won the prestigious H. Albert Napier Rice Launch Challenge (NRLC) competition last year and also won this year's Energy Venture Day and Pitch Competition during CERAWeek in the TEX-E student track.

Sarah Jimenez, Bioengineering, Ph.D. 2027

Professor Camila Hochman-Mendez Laboratory

Jimenez is working to make transplantable hearts out of decellularized animal heart scaffolds in the lab and the creating an automated cell delivery system to “re-cellularize” hearts with patient-derived stem cells.

Alexander Lathem, Applied Physics and Chemistry, Ph.D. 2026

Professor James M. Tour Laboratory

Lathem’s research is focused on bringing laser-induced graphene technology from “academia into industry,” according to the university.

Dilrasbonu Vohidova is a Bioengineering, Ph.D. 2027

Professor Omid Veiseh Laboratory

Vohidova’s research focuses on engineering therapeutic cells to secrete immunomodulators, aiming to prevent the onset of autoimmunity in Type 1 diabetes.

Alexandria Carter, Bioengineering, Ph.D. 2027

Professor Michael King Laboratory

Carter is developing a device that offers personalized patient disease diagnostics by using 3D culturing and superhydrophobicity.

Alvaro Moreno Lozano, Bioengineering, Ph.D. 2027

Professor Omid Veiseh Lab

Lozano is using novel biomaterials and cell engineering to develop new technologies for patients with Type 1 Diabetes. The work aims to fabricate a bioartificial pancreas that can control blood glucose levels.

Lucas Eddy, Applied Physics and Chemistry, Ph.D. 2025

Professor James M. Tour Laboratory

Eddy specializes in building and using electrothermal reaction systems for nanomaterial synthesis, waste material upcycling and per- and polyfluoroalkyl substances (PFAS) destruction.

This year, the Liu Lab also introduced its first cohort of five commercialization fellows. See the full list here.

The Rice Innovation Fellows program assists doctoral students and postdoctoral researchers with training and support to turn their ideas into ventures. Alumni have raised over $20 million in funding and grants, according to Lilie. Last year's group included 10 doctoral and postdoctoral students working in fields such as computer science, mechanical engineering and materials science.

“The Innovation Fellows program helps scientist-led startups accelerate growth by leveraging campus resources — from One Small Step grants to the Summer Venture Studio accelerator — before launching into hubs like Greentown Labs, Helix Park and Rice’s new Nexus at The Ion,” Yael Hochberg, head of the Rice Entrepreneurship Initiative and the Ralph S. O’Connor Professor in Entrepreneurship, said in the release. “These ventures are shaping Houston’s next generation of pillar companies, keeping our city, state and country at the forefront of innovation in mission critical industries.”

Houston startup Collide secures $5M to grow energy-focused AI platform

Fresh Funds

Houston-based Collide, a provider of generative artificial intelligence for the energy sector, has raised $5 million in seed funding led by Houston’s Mercury Fund.

Other investors in the seed round include Bryan Sheffield, founder of Austin-based Parsley Energy, which was acquired by Dallas-based Pioneer Natural Resources in 2021; Billy Quinn, founder and managing partner of Dallas-based private equity firm Pearl Energy Investments; and David Albin, co-founder and former managing partner of Dallas-based private equity firm NGP Capital Partners.

“(Collide) co-founders Collin McLelland and Chuck Yates bring a unique understanding of the oil and gas industry,” Blair Garrou, managing partner at Mercury, said in a news release. “Their backgrounds, combined with Collide’s proprietary knowledge base, create a significant and strategic moat for the platform.”

Collide, founded in 2022, says the funding will enable the company to accelerate the development of its GenAI platform. GenAI creates digital content such as images, videos, text, and music.

Originally launched by Houston media organization Digital Wildcatters as “a professional network and digital community for technical discussions and knowledge sharing,” the company says it will now shift its focus to rolling out its enterprise-level, AI-enabled solution.

Collide explains that its platform gathers and synthesizes data from trusted sources to deliver industry insights for oil and gas professionals. Unlike platforms such as OpenAI, Perplexity, and Microsoft Copilot, Collide’s platform “uniquely accesses a comprehensive, industry-specific knowledge base, including technical papers, internal processes, and a curated Q&A database tailored to energy professionals,” the company said.

Collide says its approximately 6,000 platform users span 122 countries.

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This story originally appeared on our sister site, EnergyCapitalHTX.com.