Here's what corporate venture programs are looking for from startups within the energy industry

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At the recent Global Corporate Venture conference, two corporate venture execs peeled back the curtain on what they look for from startups. Getty Images

One of the challenges for Houston energy startups is not knowing what potential big corporate partners want from them. At the recent Global Corporate Venture, two corporate venture execs shared what all they're looking for and the challenges they are facing.

Diana Grauer, director of external technology engagement and venture capital at Technip FMC, and Bradley Andrews, president of digital at Worley joined a panel with moderator Wade Bitaraf, founder of Plug and Play Energy & Sustainability. The panel, entitled "How globalization and diversification can boost a local innovation ecosystem," explored what each exec looks for in potential partnerships with startups.

At TechnipFMC, which has a newer corporate investment group, Grauer says her team looks for startup technologies within four key categories, industry 4.0, digitization, materials and processes, and energy transition. Within those categories, she says they aren't looking for startups that will provide a big return on investment, rather technologies that will advance the company's capabilities.

"We're focused on strategic returns, not necessarily your conventional financial returns," she says.

Andrews echoed this point, admitting that while a big exit for a portfolio company is never bad, but Worley would rather have technologies that benefit their business platform.

"As long as [a technology is] under core strategy and driving internal strategy, we're kind of in," he says. "Anything around data science, automation, new energy, sustainability, those are all kind of sweet spots for us."

A big challenge, Andrews says, is communicating companywide the importance of looking outward for innovative opportunities, rather than relying on the company's staff.

"The idea of corporate tech startups coming to fruition within our industry is kind of new. We used to build from within," Andrews says. "We're still as an industry trying to figure out how to do this."

Grauer says that, similarily, her biggest challenge is getting pushback from within TechnipFMC of people who just think their company should fund its current workforce to find solutions. But Grauer responds to them explaining that the company needs to move faster than that and the way to do that is through working with startups. That's why the company has created an Open Innovation Program. According to Grauer, the organization expects to make its first investment by the end of the year.

For Andrews, the state of Houston's innovation ecosystem is exciting, and he notes that he looks at emerging technologies across industries. A technical solution in medicine might have an application in energy, for example. And, considering the state of the energy industry, now is the time to be more collaborative within Houston as more and more global challenges emerge.

"I think Houston has everything it needs to make a stake in this," Andrews says. "We're not competing with each other in this industry. We're competing against what the world is going to demand from us. It's time for us in corporate land and set our egos aside."

Grauer says she's seen the city's innovation resources grow over the years, noting the emergence of The Cannon, Rice Alliance, and Plug and Play.

"I really think that the energy industry in Houston is really starting to catch up and blossom," she says.

From enlightening talks and conventions to networking opportunities, here's where you need to be in November. Getty Images

10+ can't-miss Houston business and innovation events for November

Where to be

Looking for some help navigating an innovation-filled month in Houston? Look no further.

November is jam packed with Houston business and innovation events — from huge conventions like SpaceCom and Global Corporate Venture taking over downtown on the same days to the Digital Fight Club battling it out in Houston for the first time and The Houston Innovation Summit planning a week of programming.

If you know of innovation-focused events for this month or next, email me at natalie@innovationmap.com with the details andsubscribe to our daily newsletterthat sends fresh stories straight to your inboxes every morning.

November 5 — Female Founder Luncheon with MassChallenge and HX

Houston is full of entrepreneurial women and this event aims to bring women together and give access to top female entrepreneurs and passionate women in local businesses. They will share their 'why,' their stories, challenges, successes, tips, and answer your burning questions about local entrepreneurship. Join us for a panel and lunch in a closed setting where we discuss what it takes to be a successful female entrepreneur.

Details: The event is from 11 am to 1 pm on Tuesday, November 5, at Houston Exponential (410 Pierce St.). Learn more.

November 6 — Texas Life Science Forum

Rice Alliance's Texas Life Science Forum brings together members from industry, emerging life science companies, academic, and investors. This is the "must attend" event for anyone in the life science industry in Texas or affiliated with innovation at the life science academic institutions.

Details: The event is from 8:30 am to 5 pm on Wednesday, November 6, at BioScience Research Collaborative (6500 Main St.). Learn more.

November 6 — Baker Tilly - Six Figure #Fail

Details: The event is from 11:30 am to 1 pm on Wednesday, November 6, at The Cannon (1336 Brittmoore Road). Learn more.

November 6 — Science First: Changing the Trajectory of Lung Cancer

In honor of Lung Cancer Awareness Month, JLABS sitting down with experts at The Lung Cancer Initiative at Johnson & Johnson and MD Anderson Lung Cancer Moon Shots as well as innovators in the field to present on and create dialogue around the core challenges faced by innovators in the field, new discoveries, emerging technologies, and potential solutions.

Details: The event is from 11 am to 1:30 pm on Wednesday, November 6, at JLabs @ TMC (2450 Holcombe Blvd.). Learn more.

November 7 — TMCx Demo Day: Medical Device 2019

TMCx's annual medical device cohort celebrates the end of another program as the participating entrepreneurs take to the main stage to pitch their solutions. During the event, 16 medical device startups will showcase the progress they have made on their solutions, and what they have planned for the future.

Details: The event is from 1:30 to 8 pm on Thursday, November 7, at TMC Innovation Institute (2450 Holcombe Blvd.). Learn more.

November 8-10 — Second Annual Health Equity Hackathon

CareSet presents the second annual Health Equity Hackathon using newly available data that will help address innovations for the underserved community in the U.S.

Details: The event is from November 8 through 10, at United Way of Greater Houston (50 Waugh Dr.). Learn more.

November 12 — Houston Forum for Equitable Development without Displacement

Rice University is planning to develop 16 acres around Houston's Wheeler Station to create a neighborhood centered around technology, innovation, and entrepreneurship. To demand that the developers sign a Community Benefits Agreement, we are establishing the Houston Coalition for Equitable Development without Displacement (HCEDD). All individuals, community groups, advocacy organizations, and supporting businesses/organizations who are interested in supporting this initiative are invited to attend.

Details: The event is from 6 to 8 pm on Tuesday, November 12, at Wesley AME Church (2209 Emancipation Ave). Learn more.

November 13 — Upstream Venturing + Technology Showcase

In collaboration and partnership with Equinor Technology Ventures, BP Ventures, Shell Ventures, Saudi Aramco Energy Ventures, and Cannon Ventures, hear the latest trends in upstream technology implementation.

Details: The event is from 5 to 8 pm on Wednesday, November 13, at The Cannon (1336 Brittmoore Road). Learn more.

November 14 — TopCoder Innovation Summit

The Topcoder Innovation Summit is the premier innovation event for industry leaders. At the Innovation Summit, you'll have the opportunity to speak with industry leaders, attend panels on innovation and emerging technologies, and meet with the Wipro and Topcoder executive teams.

Details: The event is from 8 am to 4:45 pm on Thursday, November 14, at InterContinental Hotel (6750 Main St.). Learn more.

November 14 — JLABS x UH: Startup Pains: From Academia to Startup (Therapeutics)

JLABS and the University of Houston Technology Bridge present a special installment of Startup Pains, a monthly talk given by entrepreneurs who share their journey of launching a company and overcoming unanticipated obstacles in order to find success in their industry. This month's focus is to arm those contemplating entrepreneurship with a road map for navigating the startup waters, specifically focused on therapeutics.

Details: The event is from 5:30 to 7 pm on Thursday, November 14, at JLabs @ TMC (2450 Holcombe Blvd.). Learn more.

November 15 — Tilting the Grid: How Electricity Companies Will Disrupt

Tilting the Grid is the conference where you can eavesdrop on what the most daring companies in the REP space are doing and discuss what the next "big" thing might be. Ready to learn what big data can reveal about customer behavior? Prepared for a deep dive into the latest customer acquisition trends?

Details: The event is from noon to 5 pm on Friday, November 15, at Whitehall Hotel Houston (1700 Smith St). Learn more.

November 18-24 — The Houston Innovation Summit

For the third year, Houston's innovation ecosystem is taking over the city for a week of events and programming coordinated by Impact Hub Houston. To check out the panels, meetups, and all other programming, click here. Note: Some of the specific events will also appear in this curated list of Houston events.

November 20 — Houston Digital Fight Club

Entrepreneurs and experts are taking the stage — or in this case ring — to battle out their ideas on tech and innovation in Houston. The high energy debate will take place across five fights and networking opportunities. Secure your tickets — it's expected to sell out.

Details: The event is from 6 to 10 pm on Wednesday, November 20, at White Oak Music Hall (2915 N Main St.). Learn more.

November 20 — Inside Billy's Brain: Surgeon, Inventor, Innovator

Join JLABS @ TMC and explore the mind and motivations of Dr. Billy Cohn, the renowned surgeon, inventor and innovator.

Details: The event is from 11:30 am to 1:30 pm on Wednesday, November 20, at JLabs @ TMC (2450 Holcombe Blvd.). Learn more.

November 20-21 — SpaceCom

SpaceCom, America's Commercial Space Conference and Exposition, addresses the strategic issues impacting the commercial space industry that will enable your business to set a clear course to gain a competitive advantage in the coming trillion-dollar space economy. SpaceCom is operating under a Space Act Agreement with NASA. In 2019, the Department of Commerce's Office of Space Commerce and the Department of Energy's Office of Technology Transitions join NASA and the commercial space industry in collaborating on the development of the show.

Details: The event is from Wednesday, November 20, to Thursday, November 21, at the George R. Brown Convention Center (1001 Avenida De Las Americas). Learn more.

November 20-21 — Global Corporate Venture 

Never has the energy industry been more vulnerable to disruption, but as open to change. The world's leading energy and transportation companies are using venture capital to invest in, and help deploy, new technologies and business models that will fundamentally change the way we generate, distribute and use energy.

Details: The event is from Wednesday, November 20, to Thursday, November 21, and takes place at various locations throughout the two-day conference. Learn more.

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Pharmaceutical giant plans $5.9B Houston facility and more news to know

Trending News

Editor's note: It's time to look back at the top Houston innovation news from the second half of May 2025. From exciting VC raises to major manufacturing facilities in the works, here are the most-read InnovationMap stories from May 16-30.

1. Pharmaceutical giant looks to bring $5.9 billion facility to Houston

Eli Lilly is looking to build an active pharmaceutical ingredient manufacturing facility at Generation Park. Rendering courtesy of McCord

Pharmaceutical company Eli Lilly and Company is looking to build a $5.9 billion active pharmaceutical ingredient (API) manufacturing facility in Houston, according to a recent filing with the state of Texas.

The proposal states that the project plans to employ 604 full-time direct employees at the site upon ramp-up completion. Construction is projected to begin in 2026, with a completion target of 2030 and commercial operations beginning in 2031. Continue reading.

2. Houston VC firm closes $21M fund for underrepresented founders

Zach Ellis, founder and general partner of South Loop Ventures, which recently closed its debut fund. Photo via LinkedIn

Houston-based South Loop Ventures recently closed its debut fund for more than $21 million, led by investments from Rice Management Company and Chevron Technology Ventures.

The funds will go toward teams with at least one underrepresented founder of color working in the energy, health, space, sports and fintech sectors. Additional investments came from The Great Commission Foundation of the Episcopal Diocese of Texas, Texas CapitalBank and others organizations. Continue reading.

3. Houston-founded startup raises $1.2M and moves headquarters to Detroit

ChurchSpace, founded in Houston by Day Edwards and Emmanuel Brown, is moving to Detroit. Photo courtesy ChurchSpace.

Houston-founded ChurchSpace, known as the Airbnb for churches, has formed an official partnership with the City of Detroit and will relocate its headquarters.

The announcements come as the company successfully closed a $1.2 million oversubscribed funding round. The round was led by California-based Black Ops Ventures, with participation from Michigan Rise and Dug Song of Minor Capital, who is also the founder of the Song Foundation, another Michigan-based organization. Continue reading.

4. Houston aerospace co. soars with first U.S. test flight of hypersonic engine

Venus Aerospace successfully completed the flight test of its hypersonic engine, the first of an American-developed engine of its kind. Photo courtesy Venus Aerospace

Houston-based Venus Aerospace successfully completed the first U.S. flight test of its proprietary engine at a demonstration at Spaceport America in New Mexico.

Venus’ next-generation rotating detonation rocket engine (RDRE) is supported by a $155,908 federal Small Business Innovation Research (SBIR) grant from NASA and aims to enable vehicles to travel four to six times the speed of sound from a conventional runway. The recent flight test was the first of an American-developed engine of its kind. Continue reading.

5. Houston regenerative medicine company expands lab for future trials

FibroBiologics has opened a new 10,000-square-foot Houston lab to scale up research efforts and pave the way for in-house manufacturing. Photo via Fibrobiologics.com

A Houston regenerative medicine company has unveiled new laboratory space with the goal of expanding its pioneering science.

FibroBiologics uses fibroblasts, the body’s most common type of cell, rather than stem cells, to help grow new cells. With its new space, the publicly traded company, which has more than 240 patents issued or pending, will be even better equipped to power forward with its research. Continue reading.

Houston university to launch artificial intelligence major, one of first in nation

BS in AI

Rice University announced this month that it plans to introduce a Bachelor of Science in AI in the fall 2025 semester.

The new degree program will be part of the university's department of computer science in the George R. Brown School of Engineering and Computing and is one of only a few like it in the country. It aims to focus on "responsible and interdisciplinary approaches to AI," according to a news release from the university.

“We are in a moment of rapid transformation driven by AI, and Rice is committed to preparing students not just to participate in that future but to shape it responsibly,” Amy Dittmar, the Howard R. Hughes Provost and executive vice president for academic affairs, said in the release. “This new major builds on our strengths in computing and education and is a vital part of our broader vision to lead in ethical AI and deliver real-world solutions across health, sustainability and resilient communities.”

John Greiner, an assistant teaching professor of computer science in Rice's online Master of Computer Science program, will serve as the new program's director. Vicente Ordóñez-Román, an associate professor of computer science, was also instrumental in developing and approving the new major.

Until now, Rice students could study AI through elective courses and an advanced degree. The new bachelor's degree program opens up deeper learning opportunities to undergrads by blending traditional engineering and math requirements with other courses on ethics and philosophy as they relate to AI.

“With the major, we’re really setting out a curriculum that makes sense as a whole,” Greiner said in the release. “We are not simply taking a collection of courses that have been created already and putting a new wrapper around them. We’re actually creating a brand new curriculum. Most of the required courses are brand new courses designed for this major.”

Students in the program will also benefit from resources through Rice’s growing AI ecosystem, like the Ken Kennedy Institute, which focuses on AI solutions and ethical AI. The university also opened its new AI-focused "innovation factory," Rice Nexus, earlier this year.

“We have been building expertise in artificial intelligence,” Ordóñez-Román added in the release. “There are people working here on natural language processing, information retrieval systems for machine learning, more theoretical machine learning, quantum machine learning. We have a lot of expertise in these areas, and I think we’re trying to leverage that strength we’re building.”

Houston biomanufacturing accelerator adds pilot plant to support scale-ups

new digs

Houston accelerator BioWell announced this month that it has taken over operations of Texas BioTechnology’s pilot plant in Richmond, Texas.

The 33,000-square-foot facility is one of the largest of its kind in the U.S. and features molecular biology labs, advanced automation, fermentation equipment and 16 dedicated benches for early-stage industrial biomanufacturing companies, according to a release from the company. It will allow BioWell to offer on-site education, workforce development, and lab training for students and workers.

BioWell and its founding company, First Bight Ventures, report that the facility should help address the industry's "scale-up bottleneck due to limited pilot- and demonstration-scale infrastructure" in the U.S.

"As a Houston-based accelerator dedicated exclusively to early-stage biomanufacturing startups, partnering with this facility was a natural and highly strategic decision for us. The site is fully operational and offers a strong platform to support biomanufacturing companies, industry leaders, and research institutions, providing critical expertise and infrastructure across a broad range of biotechnology production processes,” Veronica Breckenridge, founder of First Bight Ventures and BioWell, said in a news release.

First Bight Ventures shares that the partnership with the facility will also allow it to better support its portfolio companies and make them more attractive to future investors.

BioWell will host an open house and tours of the fermentation and lab spaces and an overview of current bioindustrial projects Wednesday, May 28, at 10:30 a.m. and 2 p.m. RSVPs are required.

BioWell was originally funded by a $700,000 U.S. Economic Development Administration’s Build to Scale grant and launched as a virtual accelerator for bioindustrial startups. Listen to an interview with Carlos Estrada, head of venture acceleration at BioWell, here.

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