Houston entrepreneurs awarded over $30,000 at annual competition

biz plan

Liftoff Houston took place for the 11th year this past weekend. Here's who won prizes. Photo courtesy of the city of Houston

An annual pitch competition put on by the city of Houston named its big winners for this year.

The 11th annual Liftoff Houston Startup Business Plan Competition announced its three winners — and each will receive $10,000 in startup money. The winners are:

  • Teria Johnson's e-commerce sweet and savory pies company, Charleston Kitchen
  • Zoey Barker and Mohammadmehdi Mortazavi’s ExoBraced’s ExoBak, a light-weight exoskeleton to help with back pain and prevent injuries from manual workers
  • Giovanni Garza’s Classic Borrego Retail, which offers high-end cowboy boots.

There were nine finalists that were selected from over 100 applicants and competed in Liftoff’s Pitch Day on November 18, where they were ranked on service, product, and innovation after pitching their businesses to a panel of expert judges.

In the event’s 11 years, 33 winners started businesses in the fields of merchandise/retail, software,education, hardware, hospitality, health and wellness, finance, technology,consulting, and logistics. The yearly event is sponsored by Capital One Bank and administered by the Houston Public Library and the Office of Business Opportunity. Liftoff Houston’s results have reflected the diversity of the city.

“The program is especially significant as data collected from recent competitions shows Liftoff Houston made an impact on populations that have been historically marginalized,” says Mayor Sylvester Turner in a news release. “More than 90 percent of participants identified as people of color, more than 70 percent were female, 44 percent had no college degree, and 54 percent earned less than $50,000 a year.”

Runners received $500 each. They are:

  • Francesca Bonaduc’e De Nigris: Intrecci by Francesca collaborates with artisans around the world, to deliver one-of-a-kind handmade rugs.
  • Diana Tudela and Hailee Trombley’s The Goodest Goodbye: a pet aftercare company that uses cutting-edge technology and environmentally conscious efforts.
  • Diane Nguyen’s Flourishing Nexus LLC: a virtual platform that unites health professionals worldwide.

“Liftoff Houston – and our finalists – have also made it this far because of our workshop partners, all who have given us the invaluable gift of their time,” says OBO Director Marsha Murray in a news release. “The business, financial, legal and marketing education they have provided has allowed our participants to plan a roadmap to their success, including the creation of viable business plans.”

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Intuitive Machines strikes $49.3M deal to expand lunar communications network

space deal

Houston-based Intuitive Machines is bulking up its space-to-ground data network with the acquisition of United Kingdom-based Goonhilly Earth Station and its U.S. arm, COMSAT.

The $49.3 million cash-and-stock deal would add 44 antennas to Intuitive Machines’ network. The acquisition is expected to close in the third quarter.

Intuitive Machines, a space infrastructure and services company, designs, builds, and operates spacecraft and data networks for lunar and deep-space missions. Goonhilly operates a satellite Earth station in Cornwall, England.

Intuitive Machines says Goonhilly’s and COMSAT’s civil, commercial, and government customers will complement its current customer base and broaden its reach into related sectors.

“Customers have been clear that they want a single, integrated, and resilient solution for their communications and [position, navigation, and timing] needs as they accelerate missions at an unprecedented pace,” Steve Altemus, co‑founder and CEO of Intuitive Machines, said in a news release.

Kenn Herskind, executive chairman of Goonhilly, says the acquisition “will allow us to scale that capability globally and directly support the next era of lunar exploration. Together, we will be creating a commercial lunar communications network that is interoperable, resilient, and ready to support Artemis and international missions.”

Modular nuclear reactor co. NuScale Power moves into Houston market

New to Hou

The nuclear energy renaissance continues in Texas with an announcement by NuScale Power. The Oregon-based provider of proprietary and innovative advanced small modular reactor (SMR) nuclear technology announced in April it would be opening office space in Houston’s CityCentre.

“Opening this space in Houston underscores our commitment to meeting rising energy demand with safe, scalable nuclear technology,” John Hopkins, NuScale president and CEO, said in a news release. “This move expands our presence in a key market for partners, prospective customers, and stakeholders in addition to positioning us for the future as we focus on the near-term deployment of our industry-leading technology. Texas is leading the way in embracing advanced nuclear for grid resilience and industrial decarbonization, and we’re proud to expand our footprint and capabilities in this important region.”

Interest in nuclear power has been growing in recent years thanks to tensions with oil-rich nations, concerns about man-made climate change from fossil fuels, and the rapidly increasing power needs of data centers. Both Dow and Texas A&M University have announced expanded nuclear power projects in the last year, with an eye of changing the face of Texas’s energy industry through smaller, safer fission reactors.

Enter NuScale, founded in 2007 from technology developed at the University of Oregon. Their modular SMR technology generates 77 megawatts and is one of the only small modular reactors (SMR) to receive design approval from the U.S. Nuclear Regulatory Commission (NRC). These advances have led to runaway success for NuScale, whose stock has risen by more than 1,670 percent since the start of 2024.

The new operations campus in CityCentre is expected to facilitate the movement, installation and coordination of NuScale technology into the various energy systems. Typically, SMRs are used for off-grid installations, desalination operations, mining facilities and similar areas that lack infrastructure. However, the modularity means that they can be easily deployed to a variety of areas.

It comes none too soon. ERCOT projects that Texas data centers alone will require 77,965 megawatts by 2030.

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This article first appeared on EnergyCapitalHTX.com.

Pharma giant considers Houston for $1 billion manufacturing campus

in the works

Another pharmaceutical giant is considering Houston’s Generation Park for a manufacturing hub.

According to a recent filing with the Texas Jobs, Energy, Technology and Innovation (JETI) program, Bristol Myers Squibb Co. is considering the northeast Houston management district for a new $1 billion multi-modal pharmaceutical manufacturing campus.

If approved, the campus, known as Project Argonaut, could create 489 jobs in Texas by 2031. Jobs would include operations technicians, engineering roles, administrative and management roles, production specialists, maintenance support, and quality control/assurance. The company predicts annual average wages for these positions to be around $96,000, according to the filing.

The project currently includes the 600,000-square-foot facility, but according to the filing, Bristol Myers Squibb “envisions this site growing in scale and capability well beyond its opening configuration."

The Texas JETI program offers companies temporary school property tax limitations in exchange for major capital investment and job creation. E.R. Squibb & Sons LLC applied for a 10-year tax abatement agreement in the Sheldon Independent School District.

The agreement promises a $ 1 billion investment. Construction would begin in 2027 and wrap in 2029.

“The proposed project reflects [Bristol Myers Squibb Co.’s] enduring commitment to bringing innovative medicines to patients and ensuring the long-term supply reliability they depend on,” the filing says. “The proposed project is purpose-built to support and manufacture medicines spanning multiple therapeutic areas and modalities, positioning the site as a long-term launch and commercial campus for decades to come. These medicines will provide therapies to the [Bristol Myers Squibb Co.’s] patients located in markets both nationally and internationally.”

The Fortune 100 company is considering 16 other cities for the new manufacturing facility in the Central and Eastern markets in the U.S. According to the Houston Chronicle, Bristol Myers Squibb Co is still in the “evaluation process” for its potential manufacturing site.

Last fall, Eli Lilly and Co. selected Generation Park for its $6.5 billion manufacturing plant. More than 300 locations in the U.S. competed for the factory. Read more here.

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