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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Houston bio-based materials startup breaks into footwear

cleaner shoes

A more sustainable shoe can’t be built on a single material swap. From the hard plastics hidden inside a heel to the material covering a sneaker’s upper, footwear is a collection of components—and each presents a different challenge for companies trying to move away from conventional, petroleum-based materials.

Houston-based Rheom Materials wants to change that equation. The biomaterials company has launched a sustainable footwear platform featuring two of its bio-based alternatives: Benree, a biodegradable plastic designed for hard internal components, and ShoraiDura, a durable leather alternative for footwear uppers.

“A shoe is not one material; it is multiple parts working together as a system. Substituting a single material has never moved the needle,” Rheom founder and CEO Zimri Hinshaw said in a news release. “Rheom wants to make it easier for brands to make a positive impact. By providing an assortment of bio-based materials, brands can change the system, not just a swatch of it.”

Benree is Rheom’s alternative to conventional hard plastics used in footwear construction. The company says it is a 100 percent USDA-certified bio-based, biodegradable material with performance comparable to acrylonitrile butadiene styrene (ABS), a widely used engineering plastic.

The material has passed SATRA testing for high-heel applications with Bared Footwear, an Australian footwear brand.

“At Bared, we're constantly on a journey to remove plastic from our shoes. At the same time, our brand won't compromise on quality for the end customer,” Millie Richards, Bared’s head of sustainability, added in the release. “From samples and testing, Rheom has proven to be solving both of those problems for us. We look forward to seeing how they develop as a company and would love to use them in our shoes.”

Rheom says it is also exploring Benree for additional internal components, including toe puffs and heel counters.

Rheom's Benree material was used for a high-heel prototype. Photo courtesy Rheom Materials

The company’s ShoraiDura material addresses another major part of shoe construction: the upper, which must withstand repeated flexing, friction and wear while maintaining its appearance.

Containing about 80 percent bio-based content, ShoraiDura is engineered as a durable leather alternative for footwear. Rheom says the material’s molecular structure is designed to deliver the strength and durability required for demanding applications.

To demonstrate how the material could be used in finished products, Rheom worked with a Los Angeles-based footwear manufacturer to create two prototypes: an athletic sneaker and a textured skater shoe, both featuring ShoraiDura uppers.

The two offerings reflect the company’s broader strategy. Rather than asking brands to evaluate a single material in isolation, Rheom is positioning its platform as a way to explore alternatives across different parts of footwear construction.

The next step is broader industry adoption. Benree’s testing with Bared Footwear and ShoraiDura’s footwear prototypes offer early examples of how the materials could be applied, while commercial use will depend on manufacturers’ evaluations and product-development decisions.

Rheom Materials is a Houston-based biomaterials company developing bio-based alternatives to petrochemical plastics. Its product portfolio includes Shorai, a leather alternative, and Benree, a hard plastic alternative.

The company debuted Shorai at the Houston Livestock Show and Rodeo in 2025 and showed a bio-based "leather" collection in Milan earlier this year. Read more here.

Houston's Rice University named the No. 1 best Texas college for 2027

We're No. 1

With early application season in full swing, a local university is racking up accolades on a new list of the 10 best Texas colleges for 2027.

Rice University topped the list as the No. 1 best university in Texas in WalletHub's annual "College & University Rankings" report, showing Houston students don't have to travel out of state to earn a top-notch degree.

WalletHub analyzed 738 colleges and universities in the U.S. using 30 relevant metrics, including factors like student-faculty ratios, graduation rates, and many more. Universities were ranked nationally, regionally, and across seven key dimensions: student selectivity; cost and financing; faculty resources; campus safety; campus experience; educational outcomes; and career outcomes.

Rice also ranked No. 2 in the regional comparison of best universities in the South, and appeared No. 11 nationwide.

Across the seven main categories, the university performed best for its faculty resources (No. 4), education outcomes (No. 11), and student selectivity (No. 16), and earned top-100 rankings for its career outcomes (No. 28) and campus experience (No. 58).

Rice only lagged behind in the national rankings for campus safety (No. 632) and cost and financing (No. 666), but neither category swayed the university's top-performing overall position.

Meanwhile, the University of Houston ranked 75th regionally and 339th nationally. UH's cost and financing rank among the top 200 nationally, landing 177th, and it ranked 284th for its campus safety.This is how the report ranked UH in the five remaining categories out of all 738 schools:
  • No. 306 – Career outcomes
  • No. 324 – Student selectivity
  • No. 343 – Education outcomes
  • No. 383 – Campus experience
  • No. 715 – Faculty resources
Four more local schools ranked among the best universities in the South: Houston Christian University (No. 204), Prairie View A&M University (No. 245), University of Houston-Downtown (No. 251), and Texas Southern University (No. 254).The Houston-area universities, including their graduate and online programs, have earned heaps of national and worldwide praise this year from prestigious educational reviewing authorities U.S. News & World Report and The Princeton Review. Rice University also topped Niche's list of the best Texas universities for 2027.

These are WalletHub's top 10 best colleges and universities in Texas for 2027:

  • No. 1 – Rice University
  • No. 2 – Trinity University
  • No. 3 – The University of Texas at Austin
  • No. 4 – Texas A&M University-College Station
  • No. 5 – Southwestern University
  • No. 6 – University of Dallas
  • No. 7 – Austin College
  • No. 8 – Texas Christian University
  • No. 9 – LeTourneau University
  • No. 10 – The University of Texas at Dallas
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This article first appeared on CultureMap.com.

UH expands Medical Center footprint with $77M research facility

breaking ground

The University of Houston broke ground on a brand new $77.5 million Medical Research Building last week that will host clinical trials and a virtual reality behavioral health suite, among other laboratories. Designed by SmithGroup, it will be the second building on the UH Medical Center campus after the Fertitta College of Medicine opened in 2022.

“The Medical Research Building was designed to foster collaboration and discovery while creating a welcoming environment for students, researchers and the community,” Kalman Nagy, higher education studio design leader for SmithGroup, said in a news release. “As the second building on the University of Houston’s medical campus, we wanted to create a strong connection to the College of Medicine and the surrounding woodlands, with outdoor terraces, shared learning spaces and natural views that inspire interaction and innovation.”

Located just behind the Fertitta building at 5150 Medical Service Drive, the 57,000-square-foot building will house wet laboratories, computational research spaces and specialized facilities for clinical research. The virtual reality behavioral health suite will use immersive technology to deliver care through manufactured audio and visual environments. It’s part of the college’s vision for developing new medical advancements in the heart of Houston’s medical community. The groundbreaking comes on the heels of the launch of the university's cross-disciplinary academic venture, UH Health, this summer.

“This groundbreaking marks an important next step in the growth of the Fertitta College of Medicine and UH Health,” Dr. Jonathan McCullers, vice president for health affairs at UH, added in the release. “We are building the research capacity to match our ambitions—bringing together scientists, physicians and experts from across the University to accelerate discovery and turn promising ideas into solutions that improve people’s lives.”

UH’s journey to establish a significant presence alongside the University of Texas and Baylor in the Medical Center started in 2009 when it became an official full institutional member. The university launched its plans for the Fertitta building in 2013, and is pursuing Health Science Center designation from the Texas Legislature in the next year’s session.

“The research that will take place here will directly benefit our community,” UH President Renu Khator added. “Diseases do not recognize disciplinary silos, and neither should our research. This building will bring together experts from across UH to break down those barriers, work across disciplines and tackle some of our most complex health challenges.”

The building is slated to open in 2028.

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