Houston startup partners with nonprofit to launch $70M fund to support businesses in marginalized communities

funding for all

The Equitable Access Fund is designed to meet demand for business credit among small businesses, especially those run by women, military veterans, people with disabilities, and members of the BIPOC, Latinx, and LGBTQ communities. Photo via HelloAlice.com

Houston-based fintech startup Hello Alice and the nonprofit Global Entrepreneurship Network have teamed up to create a $70 million fund that’ll help enable access to credit for small businesses.

Initial funding for the Equitable Access Fund, which debuted today, comes from Wells Fargo. GEN, which helps people start and build businesses, will manage the fund. Hello Alice’s fintech platform offers credit, loans, and grants to U.S. small business owners.

The new fund will provide credit enhancements — such as loan guarantees, loan-loss reserves and cash-collateral deposits — to ease risks for financing partners and free up money for underserved small business owners who face credit challenges.

The fund’s financing partners include First National Bank of Omaha, which issues Hello Alice’s small business credit card, and certain participants in Hello Alice’s financing marketplace. Other partners include the Mastercard payment network and the Kauffman Foundation, a nonprofit that fosters entrepreneurship.

The fund is designed to meet demand for business credit among small businesses, especially those run by women, military veterans, people with disabilities, and members of the BIPOC, Latinx, and LGBTQ communities. Hello Alice data shows that only one-fourth of small business owners have applied for a business credit card, and 85 percent of those applications were rejected due to poor credit or lack of credit.

Through the Equitable Access Fund, small business owners will be able to obtain a business credit card, build their credit profile, and eventually qualify for traditional credit and lending products. The $70 million fund seeks to unlock as much as $1 billion in credit for thousands of small business owners.

“We’re looking forward to creating more partnerships and bringing more institutions on board to the fund to achieve the goal of equitable access to credit,” Elizabeth Gore and Carolyn Rodz, co-founders of Hello Alice, say in a news release.

Wells Fargo Foundation is backing the Equitable Access Fund.

“Small businesses are a critical contributor to the economy and to building generational wealth,” says Otis Rolley, president of the foundation. “We need to create more pathways for historically marginalized small businesses to grow and prosper.”

In conjunction with GEN and Hello Alice’s Equitable Access Program, small business owners will receive credit-building education and technical assistance through a tool called the Business Health Score. The tool, which Hello Alice launched in April 2023, supplies an overview of a business’ financial condition.

Hello Alice Co-Founders Carolyn Rodz and Elizabeth Gore announced their latest opportunity for founders from marginalized communities to access funding. Photos via helloalice.com

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Attention small business owners: it's time for a financial wellness exam. And Hello Alice has just the tool for you to use. Photo by Hero Images

Houston fintech company launches new tool for startups and small businesses

wellness check

Much like the humans that run them, businesses need the occasional wellness exam. A fintech company founded in Houston has created a tool for conducting that health check.

Hello Alice announced that its new tool Business Health Score has launched today. The assessment tool can be used by startups and small businesses to navigate their financial and business health. The tool is the first product rolling out from the Equitable Access Program, a new initiative from Hello Alice and the Global Entrepreneurship Network with support from Wells Fargo, JPMorgan Chase, Mastercard, and the Kauffman Foundation.

Hello Alice was co-founded by Elizabeth Gore and Carolyn Rodz and has worked with over one million small businesses to help them access capital. The idea of the Score is to give business owners "a comprehensive overview of a business's financial health," according to the news release from Hello Alice. This information is critical for decision making and works hand-in-hand with all of Hello Alice's existing resources.

Operating as a self-assessment questionnaire, the Score will provide entrepreneurs with a composite number by evaluating three business aspects: financial and business management practices, financial performance and position, and credit history.

“Over the last two years, Americans have applied to start 10.5 million new businesses, leading to a surge in the small business economy and more entrepreneurs who need support to properly grow their businesses," say Gore and Rodz in the release. "We recognized data was missing from the market that would give enterprise partners and financial institutions a clearer picture of the potential that small business owners possess for massive growth and investment."

The Score will help Hello Alice and its partners, which includes financial institutions, navigate the business's unique needs and provide the appropriate financial services and resources.

“We are providing unparalleled visibility through the Business Health Score that will empower small business owners to make more strategic decisions and optimize their growth while giving partners and institutions the insight to best help them through personalized service and product recommendations," the co-founders continue. "The Score and the larger Equitable Access Program we have launched with GEN are a huge step forward in opening up more growth opportunities for small businesses and ecosystem partners.”

Hello Alice and GEN are on a mission of democratizing access to capital so that entrepreneurs from all communities have the ability to grow their businesses sustainably. Last year, Hello Alice launched an entrepreneur-focused credit card that helped businesses more easily set up a line of credit.

“Entrepreneurs are well-equipped to deal with disruption and changing dynamics, but while talent is plentiful, opportunity is not,” says Jonathan Ortmans, founder and president of the Global Entrepreneurship Network, in the release. “The Equitable Access Program and Business Health Score will open doors for small business owners to better manage and grow their businesses, which will lead to more strategic partnership and funding opportunities.”

Houston's ranking on this global report improved 14 spots between now and last year. Photo via Getty Images

Houston tech ecosystem ranks as No. 5 in the world for emerging startup hubs

tech in texas

As a startup hub, Houston is movin’ on up.

In a new report from Startup Genome and the Global Entrepreneurship Network, Houston ranks fifth among the world’s top 100 emerging ecosystems for startups. Last year, the groups’ report put Houston at No. 19 in the same category.

Ahead of Houston on the list of the top emerging ecosystems for startups are first-ranked Detroit; second-ranked Hong Kong; third-ranked Dublin, Ireland; and fourth-ranked Minneapolis.

Further bolstering Houston’s status as a rising startup hub, Bayou City ranks third among the top North American challengers to traditional startup anchors like Silicon Valley, Boston, and Seattle. Joining Houston on the challengers’ list are first-ranked Detroit; second-ranked Minneapolis; third-ranked Research Triangle, North Carolina; and fifth-ranked Pittsburgh.

A recent report from Houston Exponential, which was recently acquired, emphasizes Houston’s position as the third fastest-growing tech ecosystem in the U.S. for early-stage startups. Houston sits behind Miami (No. 2) and Bridgeport-Stamford-Norwalk, Connecticut (No. 1).

Houston startups at all stages raised $2.34 billion in 2021, setting a record for the region’s annual VC haul, the HX report says. Of that total, early-stage startups collected $618.9 million in 46 deals.

Health and information technology startups dominate the VC landscape in Houston, with each accounting for 30 percent of VC deals in 2021, according to the HX report.

Elsewhere in Texas, Austin ranks 25th among the world’s top 100 ecosystems for startups, while Dallas ties for 31st place, according to the Startup Genome and Global Entrepreneurship Network report. San Antonio is wedged into the 91-to-100 range in the ranking of the world’s top 100 ecosystems.

“The importance and dispersal of tech startups have amplified the influence — for both good and ill — of geopolitics,” the report notes. “Where once the sector was sufficiently small to avoid the kind of pressures experienced by large industries such as energy and travel, those garage-spawned entrepreneurs have grown into a major economic force. Keeping their heads down is no longer an option.”

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Axiom Space expands executive team with two C-suite hires

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Fresh off officially making Texas its legal headquarters, Axiom Space has named two new C-level executives.

The Houston-based spacetech company, which is developing the first commercial space station, announced earlier this month that it had appointed Zach Gitomer as its new chief financial officer and Erick Wegerer as chief information officer.

Gitomer served as vice president of investor relations and capital markets for Axiom from March to June of this year. Before joining Axiom, he held various leadership roles at Bank of America, Merrill Lynch, and Citi, where he supported technology and growth companies, according to Axiom.

"Building era-defining space infrastructure and pioneering the orbital economy is a complex endeavor that requires not just an audacious vision and stellar engineering talent, but the financial infrastructure, discipline, and capital strategy to match," Gitomer shared in a LinkedIn post. "I’m honored to take on this role ... I’m looking forward to partnering with the exceptional leadership team here at Axiom Space during a defining chapter for the company and commercial spaceflight broadly, as well as a crucial period for maintaining U.S. human presence in low-Earth orbit and leadership in space exploration."

Wegerer joins Axiom after most recently serving as CIO of Washington-based Insitu Inc., a subsidiary of Boeing that develops customized unmanned hardware for commercial, government and defense customers.

"My time at Insitu was defined by talented people, meaningful challenges, and work that mattered. I'm grateful for the teams, partners, and leaders who made progress there possible. Stepping into Axiom, I'm energized by the mission, the momentum, and the opportunity to help shape what's next," Wegerer shared.

Photo via LinkedIn

The duo was celebrated on the floor of the New York Stock Exchange last week.

“We are pleased to welcome these exceptional leaders to the Axiom Space team," Axiom CEO Jonathan Cirtain added in the announcement. “Their strong record of helping complex organizations advance their strategic priorities will strengthen our executive team to further advance our core business objectives."

It's been a busy summer for Axiom. The company tacked on an additional $175 million to a previously announced capital raise, bringing the oversubscribed round to a total of more than $525 million, in June.

It also announced plans to open a Japanese subsidiary July 1. It tapped veteran Japanese astronaut Koichi Wakata to lead Axiom Space Japan as chief technology officer in the Asia-Pacific region. It also shared plans to establish Axiom Space Switzerland, a wholly owned subsidiary based in Lucerne that is also expected to begin operations this summer.

Axiom also officially redomiciled its legal headquarters from Delaware to Texas last month. Read more here.

Houston hardtech accelerator names 8 founders to 2026 cohort

hardtech fellows

Hardtech-focused organization Activate has named 50 new members to its 2026 cohort of scientists, which includes eight startups joining Activate Houston.

Activate aims to support scientists at "the outset of their entrepreneurial journey." It partners with U.S.-based funders and research institutions to support its fellows in developing high-impact technology. Its fellows receive a living stipend, research and development funding, connections from Activate's robust network of mentors and access to a curriculum specific to the program for two years.

This year's fellows represent 41 companies from 22 U.S. cities and 11 states.

“This cohort clearly demonstrates that the next industry-defining companies won't choose between modern technology and deep science; they'll be built by combining both,” Cyrus Wadia, CEO of Activate, said in the announcement. “These are the scientists and engineers turning our most urgent global challenges into the companies that will deliver a more sustainable future.”

The Houston fellows are working across the energy, space, AI infrastructure and agriculture sectors. They include:

  • Sophie Clare Broun, founder of Anning Corporation, which is producing clean hydrogen by stimulating naturally occurring geologic deposits
  • Kathy Andersen, founder of Brint Tech, which builds optical sensing systems that quantify hydrogen for infrastructure operators
  • Dorsa Talebi, founder of Kinetiq Drive, which builds rare-earth-free, contact-free electric motors with wireless rotors for small appliances and heavy industry alike
  • Neethu Pottackal, founder of Nivera, which is developing natural, edible coatings made from agricultural byproducts to reduce food waste and extend the shelf life of fresh food
  • Jonathan Huffman, founder of Orbital Arc, which is shrinking spacecraft propulsion to a microchip powerful enough for deep space
  • Tim Lee, founder of Renesin, which develops advanced materials for faster, more efficient AI hardware
  • Joshua Livingston, founder of Selerra Separations, which is developing high-performance membranes that cut the cost and energy consumption of water treatment
  • Wenli Jiang, founder of SwieNitro Recovery, which is developing technology that converts nitrogen-rich waste streams into valuable fertilizer

"Home to the largest concentration of engineers in the United States and a dense ecosystem of Fortune 100 and Fortune 500 companies, Houston is uniquely positioned for scientists tackling large-scale industrial challenges. Activate Houston fellows are connected to the city's deep networks in energy, chemicals, and materials," Activate said in the announcement.

Activate named its inaugural Houston cohort in 2024. It has other hubs in Boston, New York, and Berkley, California—where Activate is headquartered. The organization also offers a virtual and remote cohort, known as Activate Anywhere. Nationally, it has supported 346 fellows and 276 companies since 2015.

Activate Houston is led by managing director Jeremy Pitts, who co-founded Greentown Labs in Boston. It is based out of the Ion. The latest cohort is Activate Houston's third. Read more about the last year's cohort here.

Rice, Houston Methodist award $90K for cancer research projects

seed grants

Rice University’s Synthesis X Center, in partnership with the Houston Methodist Neal Cancer Center, announced earlier this month the organizations would award $90,000 in seed grant funding to two projects that could help fight cancer. One would ease the pain of chemotherapy, while the other could change the way the progression of leukemia is tracked.

“We’re excited to be collaborating with the Neal Cancer Center to support collaborative, novel and interdisciplinary proposals to improve cancer care and outcomes,” Han Xiao, Rice professor of chemistry and the director of the SynthX Center, said in a news release. “Together, we can achieve translational excellence.”

The projects

Chemotherapy is one of the most effective cancer treatments, but it can be hard on the body. The human body doesn’t like being injected with radioactive material, especially the skin around the injection point, which can become extremely irritated. For patients in long-term treatment, the skin irritation can be more than just a bother; it can lead to infections that are dangerous to a compromised immune system.

Angel A Marti, a professor of chemistry at Rice University, and Biana Godin, an associate professor of nanoscience at Houston Methodist Research Institute, are experimenting with metal nanoclusters as a way to block radiation at the injection site. The nanocluster could be applied in a cream or a gel on the skin, serving as a type of shield against the harsh radioactive material.

Meanwhile, Yuan Ma, an assistant professor of chemistry at Rice, and Shu-Hsia Chen, a professor of immunology at Houston Methodist Research Institute, are working with m6A. Discovered in the 1970s, m6A is the most prevalent chemical modifier found in mRNA in mammals. It is prevalent in many cancers, including leukemia.

Ma and Chen are working on measuring the amount of m6A in leukemia to see if it can determine the most effective cancer treatments. The team is also experimenting with ways to shut off m6A to see if it makes current leukemia treatments more effective.

Progress from SynthX

SynthX was first launched in April 2024 to turn research from Rice and Houston Methodist into real-world cancer treatments. Within a year, the center had secured $1.5 million in grant money to work on crossing the blood-brain barrier in brain cancer treatments. These latest awards show that SynthX Center continues to bridge the worlds of research and clinical practice.

“This collaboration reflects a shared commitment to team science in cancer research,” Daniela Matei, the director of the Houston Methodist Neal Cancer Center, added in the release. “These are the types of translational and pioneering projects that lead to transformation in patient care.”'

The SynthX Center awarded $90,000 in seed grants to three teams in 2025 and $80,000 to three teams in 2024.

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