The Founders District in West Houston has an NFT investment opportunity. Rendering via foundersdistrict.com

Developers are turning to blockchain technology to help finance a new indoor-outdoor bar at Houston’s Founders District innovation campus.

Under the umbrella of the Powder Keg Collective, the Powder Keg bar is selling non-fungible tokens (NFTs) to finance construction and operation of its 14,000-square-foot expansion. NFTs, similar to cryptocurrencies, are stored on a blockchain and represent ownership of a unique asset.

The new venue will be at 1300 Brittmoore Rd., near the existing Powder Keg bar and The Cannon West Houston entrepreneurial hub. Aside from catering to everyday patrons, the venue will host community events, festivals, private events, and concerts.

Buyers of the Powder Keg NFTs will be entitled to gain proceeds from the development, and will receive beer discounts, access to VIP events, and other privileges.

“These utility NFTs provide owners with tangible financial value and membership in a real estate club, not empty hype,” Mark Toon, co-owner of the Powder Keg, The Cannon and the Founders District, says in a news release.

“The Powder Keg Collective is another way we’re building community around technology, demystifying it, and bringing together Houstonians — whether they’re investors, NFT collectors, crypto-enthusiasts, or people who just want a stake in their neighborhood bar.”

On the Ethereum blockchain platform, the collective will sell 2,361 tokens ranging in price from $250 to $500,000 each. Tokens can be purchased with cryptocurrencies or U.S. dollars. The venue itself will accept the same two payment methods.

The Powder Keg is planning an expansion. Photo courtesy

The Cannon's new building is 88 percent leased and ready for move in. Courtesy of The Cannon

Photos: The Cannon unveils its 120,000-square-foot startup hub in West Houston

Homecoming

The Cannon is finally getting to move its 150 startups and partners into its 120,000-square-foot campus in West Houston.

The original plan was to open in March, but construction, which began in April 2018, faced a series of setbacks due to weather. Current grand opening celebration plans are expected to be in September.

The flagship building is just the first step developing the campus, which is dubbed the Founders District.

"Our team has worked tirelessly to build this community over the past eighteen months, and we are incredibly proud to see our vision coming to life with the completion of this building," says The Cannon's CEO Lawson Gow in a news release. "The work isn't over though, and The Cannon will continue to grow our network of resources and locations to cater to the needs of Houston's growing entrepreneurial community." (Gow is the son of David Gow, owner of InnovationMap's parent company Gow Media.)

The building is currently 88 percent leased. Cannon Ventures, the company's investor group, will operate out of the new building, as will Capital Factory's Houston outpost. Austin-based Capital Factory, a statewide startup accelerator announced it would have its Houston operations at The Cannon in May. Since then, the company hired two Houston-based employees to run the programming.

According to the release, The Cannon will continue to grow its community relations for a "full suite" of partners. Houston-based investment fund Work America Capital, which led The Cannon's initial fundraising round, will also be joining The Cannon's community in the new building.

"It has been incredible to watch The Cannon's exceptional growth from inception two years ago to the vibrant community they've built today," says Mark Toon, managing partner of Work America Capital, in the release. "We can't wait to see the progress first-hand as The Cannon continues to establish themselves as a leader in building entrepreneurial communities."

The Cannon previously operated out of a 20,000-square-foot adjacent building called "The Waiting Room," which will be torn down and the space will be used as a part of the bigger Founders District plan.

The Cannon's new space will feature:

  • A 16-TV video wall
  • Outdoor courtyard
  • Movie theater
  • Snacks, coffee, and beer
  • Office needs, such as printers, scanners, and mail services
  • Showers
  • 24/7 accessibility
  • Professional and social events are organized on an ongoing basis for the community
  • Private event hosting for both members and non-members

Spacious setting

Courtesy of The Cannon

The Cannon is currently 88 percent leased.

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CultureMap Emails are Awesome

3 Houston innovators to know this week

who's who

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 a podcast with the founder of a new venture firm, a former astronaut and recent award recipient, and a health care innovator with fresh funding.

Zach Ellis, founder and managing partner of South Loop Ventures

Zach Ellis explains on the Houston Innovators Podcast that South Loop Ventures plans to invest in promising companies from across the country and bring them into Houston's ecosystem to grow and scale. Photo via LinkedIn

Houston has a lot of the right ingredients for commercialization and scaling up companies, so when Zach Ellis moved to town to stand up a venture capital firm that made investments in diverse founders, he decided to go about it in an innovative way.

South Loop Ventures, which Ellis launched two years ago, invests in pre-seed and seed-stage startups across health care, climatetech, aerospace, sports, and fintech. While the first handful of investments, which have already been made, are into Houston-based companies, Ellis explains on the Houston Innovators Podcast that the firm plans to invest in promising companies from across the country and bring them into Houston's ecosystem to grow and scale.

"Any investor wants to feel like they are looking at the best possible investment opportunities in which to deploy capital," Ellis says on the show. "So that's reason No. 1 to cast your net as widely as possible.

"At the same time, you want to give any investment that you make greatest chances of success," he continues. "The biggest factor of success outside of the team and the capital you give them, is the customers that they can call upon. In bringing targeted companies to Houston or connecting them with Houston, you introduce the opportunity for them to achieve rapid scale and work with world-class partners very efficiently." Read more.


Toby R. Hamilton, founder and CEO of Hamilton Health Box

Dr. Toby Hamilton has secured $10 million to grow his company. Photo via tmc.edu

A Houston company that is working on a value-based model for primary care has fresh funding to support its mission.

Hamilton Health Box announced the completion of a $10 million series A funding round led by 1588 Ventures with participation from Memorial Hermann Health System, Impact Ventures by Johnson & Johnson Foundation, Texas Medical Center Venture Fund, and the Sullivan Brothers.

The company, founded in 2019 by Dr. Toby R. Hamilton, will use the funding to fuel its expansion into rural areas to help assist those living in Health Professional Shortage Areas, or HPSAs. Read more.

Ellen Ochoa, former astronaut and center director at the NASA's Johnson Space Center

Ellen Ochoa was recognized for her leadership at NASA Johnson and for being the first Hispanic woman in space. Photo via NASA

Two astronauts recently received Presidential Medals of Freedom from President Joe Biden for their leadership in space.

Ellen Ochoa, the former center director and astronaut at the NASA's Johnson Space Center in Houston, and Jane Rigby, senior project scientist for NASA’s James Webb Space Telescope, were honored at the White House on May 3.

Ochoa spent 30 years with NASA, which included being the 11th director of JSC, deputy center director of JSC, and director of Flight Crew Operations. She served on the nine-day STS-56 mission aboard the space shuttle Discovery in 1993, and became the first Hispanic woman in space. She flew four more times to space with STS-66, STS-96, STS-110, and more.

“I’m so grateful for all my amazing NASA colleagues who shared my career journey with me,” Ochoa says in a NASA news release. Read more.

Houston health care institutions receive $22M to attract top recruits

coming to Hou

Houston’s Baylor College of Medicine has received a total of $12 million in grants from the Cancer Prevention & Research Institute of Texas to attract two prominent researchers.

The two grants, which are $6 million each, are earmarked for recruitment of Thomas Milner and Radek Skoda. The Cancer Prevention & Research Institute of Texas (CPRIT) announced the grants May 14.

Milner, an expert in photomedicine for surgery and diagnostics, is a professor of surgery and biomedical engineering at the Beckman Laser Institute & Medical Clinic at the University of California, Irvine and the university’s Chao Family Comprehensive Cancer Center

In 2013, Milner was named Inventor of the Year by the University of Texas at Austin. At the time, he was a professor of biomedical engineering at UT. One of his major achievements is co-development of the MasSpec Pen, a handheld device that identifies cancerous tissue within 10 seconds during surgical procedures.

Skoda is a professor of molecular medicine in the Department of Biomedicine at the University of Basel and the University Hospital Basel, both in Switzerland. He specializes in developing treatments for myeloproliferative neoplasms, which are a group of blood diseases including leukemia.

Other recruitment grants provided by the institute to Houston-area organizations are:

  • $4 million for recruitment of Susan Bullman to the University of Texas M.D. Anderson Cancer Center. She was an assistant professor at Seattle’s Fred Hutchinson Cancer Center, where she studied the connection between microbes and cancer.
  • $4 million for recruitment of Oren Rom to the University of Texas M.D. Anderson Cancer Center. Rom is an assistant professor of pathology and translational pathobiology at Louisiana State University Shreveport.
  • Nearly $2 million for recruitment of Lauren Hagler to conduct RNA cancer biology at Texas A&M University. She is a postdoctoral scholar in biochemistry at Stanford University.

The institute also awarded grants to five companies in the Houston area:

  • $4.7 million to 7 Hills Pharma for development of immunotherapies to treat cancer and prevent infectious diseases.
  • $4.5 million to Indapta Therapeutics for the Phase 1 trial of a cell therapy for treatment of multiple myeloma and non-Hodgkin’s lymphoma.
  • $2.75 million to Bectas Therapeutics for development of antibodies and biomarkers to overcome a type of resistance T-cell checkpoint therapy.
  • $2.69 million to MS Pen Technologies for development of technology that differentiates between normal tissue and cancerous tissue during surgery.
  • $2.58 million to Crossbridge Bio for development of an antibody-drug combination to treat certain solid tumors.