3 Houston innovators to know this week

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This week's roundup of Houston innovators includes Stephanie Campbell of HAN and The Artemis Fund, Larry Lawson of Proxima Clinical Research, and Vanessa Wyche of the Johnson Space Center. Courtesy photos

Editor's note: In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries — from medical device development to fintech — recently making headlines in Houston innovation.

Stephanie Campbell, managing director of the Houston Angel Network and general partner at The Artemis Fund

Local investment leader talks trends in Houston venture capital activity

Stephanie Campbell joins the Houston Innovators Podcast last week to share some trends in early-stage investing. Photo courtesy of HAN

There were so many question marks at the beginning of the pandemic, especially for startup funding. Stephanie Campbell, who manages the most active angel network as well as a venture capital fund, says no one was sure how anything was going to pan out. Now, looking back on last year, VC did ok, she says on the Houston Innovators Podcast, and the Houston Angel Network saw membership growth.

"I think that given the markets with quite a bit of liquidity, people were looking for new and interesting ways to invest and make a return," Campbell says on the podcast. "In 2020, we actually grew by 30 percent and are up to 130 members of the Houston Angel Network and are continuing to grow through 2021."

Campbell shares more of her observations on the show and what she's focused on next. Click here to read more and stream the episode.

Larry Lawson, co-founder of Proxima Clinical Research

Larry Lawson joined InnovationMap for a Q&A about his startup's recent exit, his role on the boards of five med device companies, his investment activity, and more. Photo courtesy of Larry Lawson

When Larry Lawson started his career in the medical device industry, it was hard to get funding. The health tech founder and investor says if it wasn't oil or real estate, banks couldn't understand well enough to make a loan. So, he bootstrapped, raised from friends and family, and found venture capital support for his business endeavors over the years. Now, he's celebrating a $1.4 billion exit of his last business, Preventice Solutions, a deal that closed earlier this year.

The ecosystem in Houston has changed, he says, and he's seen it evolve as the Texas Medical Center grew and the Rice Business Plan Competition brought impressive student innovators from all around the globe.

"The health science community here in Houston is now known all over the world," he tells InnovationMap. "It's gonna just continue to grow and develop, and I hope to be a part of continue to be a part of it." Click here to read more.

Vanessa Wyche, director of Johnson Space Center

Vanessa Wyche is the first Black woman to lead a NASA center. Photo courtesy of NASA

For the first time, NASA has a Black woman at the helm of a space center. Vanessa Wyche has been named director of Johnson Space Center in Houston after serving as acting director since May 3.

"Vanessa is a tenacious leader who has broken down barriers throughout her career," Pam Melroy, deputy administrator of NASA, says in a news release. "Vanessa's more than three decades at NASA and program experience in almost all of the human spaceflight programs at Johnson is an incredible asset to the agency. In the years to come, I'm confident that Houston will continue to lead the way in human spaceflight."

As director of Johnson Space Center, Wyche now leads more than 10,000 NASA employees and contractors. Click here to read more.

The SEC expanded its definition of accredited investors, so now is the time for potential venture capitalists and angels to step up. Pexels

Here's what the new SEC accredited investor definition means for potential Houston VCs

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This month. the Security and Exchange Commission, or SEC, modified the definition of "accredited investor," with the effect of dramatically increasing the number of people eligible to participate in non-publicly traded investments.

The SEC definition of accredited investor establishes requirements for who may invest in private deals, startups, and private funds. These rules are meant to protect individuals from investing in assets that are high risk and have little publicly accessible information.

Historically, accredited investor status was limited to those that met certain wealth or income thresholds — specifically, a net worth of $1 million excluding primary residence, or $200,000 in annual income for an individual or $300,000 combined annual income for married couples. The SEC's thinking was that higher net worth individuals or higher earners likely have the sophistication to evaluate the risks and the ability to financially withstand potentially losing money they invested in a private investment.

However, with fewer companies going public and an increased interest in participating in private deals, startups, and funds many have suggested the accredited investor rule appeared more and more antiquated.

The SEC's new definition adds individuals with certain professional certifications (Series 7, Series 65, or Series 82 license) and "knowledgeable employees" at private funds, regardless of an individual's level of wealth or income.

Now, individuals with heavy involvement in and responsibility for investment activities and those with financial certifications are assumed to have the financial sophistication and ability to assess the risks of private investments. The SEC also added the clients and employees of family offices, which are investment arms of high net worth families. In addition, the SEC also expanded the married couples' income calculation to include "spousal equivalent" to capture non-married couples.

It remains to be seen whether these additions to the definition of accredited investors will add a significant number of new angel investors, as many of the individuals with such certifications already meet the previous net worth or income requirements. The startup ecosystem, however, has welcomed the move away from wealth and income criteria, as a good first step toward opening the private offering markets to more qualified individuals.

If you now find yourself meeting any of these qualifications of accredited investor, what now? The Houston Angel Network is a great resource to help you navigate these new waters, by providing a framework and network to learn how to evaluate investment opportunities. A common rule of thumb is that nine out of ten startups fail and will return zero dollars to investors. It is prudent to invest in several startups or through a fund with experienced and capable managers to get the needed diversification to expect a return on your investment in this asset class.

Angel networks throughout the country exist to educate accredited investors and provide a network of sophisticated and experienced individuals across industries to support due diligence. By working together and learning from experienced investors, newly accredited investors can avoid common investment mistakes and can develop skills to evaluate non-public investment opportunities.

The upshot of the expansion of accredited investors is that the SEC still expects such investors to be sophisticated and well educated about investment opportunities with high risks and rewards. Investors new to non-public markets should consider joining a network like the Houston Angel Network, where they can see hundreds of startups a year and learn from experienced investors.

Additionally, new accredited investors can engage in the local startup community by volunteering their services as a mentor at a local startup development organization like the Ion, Rice Alliance, Capital Factory, Mass Challenge, Plug and Play and many more. If you are considering investing in startups or a fund, please reach out to us at the Houston Angel Network for more ways to get involved and learn.

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Stephanie Campbell is managing director of Houston Angel Network and co-founder of The Artemis Fund.

Over the past few years, the Houston Angel Network has doubled its members and continues to grow despite COVID-19's economic effects. Photo via Getty Images

Houston Angel Network sees membership growth amid pandemic

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While the COVID-19 pandemic caused some investors to hit pause on some deals, the Houston Angel Network, which has doubled its membership over the past couple years, has maintained its deal flow and investment, while taking every opportunity to connect members virtually.

"Nothing's really changed — in terms of our activity — other than the fact that we can't meet in person," says Stephanie Campbell, managing director of HAN. "We quickly pivoted to virtual."

Campbell — who also is also a founding partner at Houston-based, female-focused venture capital group, The Artemis Fund — says she still saw the interest and need on each side of venture deals.

"What I realized was, especially working at a venture fund, the deal flow isn't going away. Companies still need capital — and investors are still interested in looking at deals," Campbell tells InnovationMap.

HAN, which was founded as a nonprofit in 2001, continues to be touted as among the most active angel network in the country. The organization has five industry groups that it focuses its deals on — energy, life sciences, technology, consumer products, and aerospace.

At each monthly meeting, members hear three pitches. However, Campbell is vetting many more companies far more deals and passing them along the network as she goes. All in all, HAN investors do around 100 deals a year with an average investment of $100,000.

Since Campbell joined in 2018, membership has doubled from 60 members to 120. Campbell says it's her goal to get to 150 members by the end of the year.

Stephanie Campbell has led HAN as managing director since 2018.

"Despite COVID, we've continued to grow," Campbell says, adding that she's heard investors express that they have more time now to dive in. "People are very much still interested in learning about deploying their capital into early-stage venture. They're looking for a network of like-minded individuals."

Campbell explains that, with the switch to virtual pitches and events, HAN is congregating more than ever. In the spring, Campbell introduced a thought leadership series, called Venture Vs. The Virus, that brought investment leaders together to discuss how the pandemic was affecting venture capital.

HAN is also using this time to better tap into technology to connect members with startups. On the back end, Campbell says, she's looking to enhance digital engagement with members and also improve data reporting within the organization.

From increasing networking and educational events and growing membership, HAN is prioritizing growing its place in the Houston innovation ecosystem. Campbell says she sees the pandemic is causing investors and tech talent on the coasts to re-evaluate where their living, and that's going to benefit Texas. Houston is going to see an influx of tech talent coming to town, and that's going to translate to more startups being founded locally.

"We want to make sure that we are a big part of this transition toward a more diverse and resilient economy," Campbell says. "Now's the time to lean in on Houston."

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Houston universities climb the ranks on annual list of most patents issued

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The University of Houston and Rice University have claimed spots on the National Academy of Inventor's Top 100 U.S. Universities Granted Utility Patents.

The list is based on data obtained from the U.S. Patent and Trademark Office and ranks U.S. academic institutions that are advancing innovation by the number of utility patents issued in the prior year.

Utility patents are among the world’s most valuable assets because they give inventors exclusive commercial rights to produce and use their technology. The universities ranked on the list collectively hold nearly 6,500 patents.

“In the ever-evolving innovation landscape, it is imperative that the U.S. is remaining competitive and at the forefront of today’s emerging research and technologies,” Paul R. Sanberg, president of the NAI, said in a news release. “Ensuring the security of intellectual property through patenting is a crucial component to this and allows those innovations to be effectively moved to market, where they can create valuable societal and economic impact. The Top 100 U.S. list celebrates U.S. universities and their inventive staff and faculty for their dedication in ensuring their innovations and IP are protected.”

The University of Houston System came in at No. 62 with 34 patents, and Rice University claimed the No. 68 spot with 30 patents.

Both universities climbed up the rankings this year. Last year, UH was ranked No. 63 with 27 patents. Rice climbed an impressive 26 spots this year, after ranking No. 94 with 14 patents issued in 2023.

“Granted U.S. utility patents can tremendously help in commercializing the technologies covered by such patents by attracting industry investment and commercial partners on a global level,” Neha Malik, assistant director for intellectual property management in Rice's Office of Technology Transfer, said in a release. “Advancing in this list memorializes Rice’s commitment to support research programs of Rice faculty by generating a path for the university to bring its research to the marketplace.”

Other Texas universities on the list include:

  • No. 3 University of Texas System (234 patents)
  • No. 35 The Texas A&M System (61 patents)
  • No. 73 Texas Tech University System (25 patents)
  • No. 80 Baylor University (20 patents)

The University of California (540 patents) claimed the No. 1 spot again this year, followed by the Massachusetts Institute of Technology (295 patents), which also placed second for 2024.

First large-scale affordable housing project of 3D-printed homes rises in Houston

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What’s being promoted as the world’s first large-scale affordable housing development built using 3D technology is taking shape in Houston.

Houston-based 3D construction company HiveASMBLD has teamed up with Houston-based Cole Klein Builders and the City of Houston on the Zuri Gardens project. Located near Hobby Airport on Martindale Road, the first 3D-printed home at Zuri Gardens is set to be completed in October.

“Zuri Gardens was born from the frustration of watching hardworking families get priced out of safe, resilient housing. We knew there had to be a better way — and with this project, we’re proving that there is,” says Vanessa Cole, co-founder of Cole Klein Builders.

“By combining visionary design, advanced construction technology, and powerful partnerships, we’re building more than just homes — we’re creating a blueprint for the future of equitable homeownership in Houston and beyond.”

The development is being created for households earning up to 120 percent of the median income in the Houston metro area. For a four-member household in the Houston area, the 120 percent limit in 2025 is $121,300, as set by the U.S. Department of Housing and Urban Development (HUD).

The 13-acre Zuri Gardens development will feature 80 energy-efficient homes averaging 1,360 square feet. Prices will be in the mid to high $200s. The homes will qualify for up to $125,000 in down payment assistance from the City of Houston.

HiveASMBLD will print two different home designs, each with two-bedroom and two-and-a-half bathroom configurations, along with an office/flex space and a covered patio.

Zuri Gardens home model Houston Courtesy rendering

“The community we envision for Zuri Gardens is modern, safe, and one that residents will be proud to call home. When completed using HiveASMBLD’s innovative technology, this 3D-printed multifamily community will exemplify the future of residential affordable living,” says Timothy Lankau, founder and co-CEO of HiveASMBLD.

Developments like Zuri Gardens are popping up around the country.

“3D-printed homes are revolutionizing the construction industry by making home builds faster, cheaper, and more sustainable,” according to The Zebra, an Austin-based insurance marketplace. “In less than 24 hours, 3D printers can print the foundation and walls for a small home at a fraction of the cost of typical construction.”

U.S. News & World Report explains that unlike a traditional home, a 3D-printed home is printed in place, “just like you’d print a knickknack on your home 3D printer. Layer by layer, proprietary concrete blends are used to build the wall systems of the home in any type of design that a builder can imagine.”

Texas is home to several trailblazing 3D-printed projects.

In the U.S., the first 3D-printed home was built in 2018 in Austin, and the first 3D-printed multistory home was completed in 2023 in Harris County’s Spring Branch neighborhood. Meanwhile, the world’s largest neighborhood of 3D-printed homes is located in the Austin suburb of Georgetown.

Grand View Research predicts the global market for 3D-printed construction will approach $4.2 billion by 2030.

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This article originally appeared on CultureMap.com.

Houston tech company secures $450M NASA contract

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NASA’s Johnson Space Center awarded Houston-based aerospace technology and engineering services company Barrios Technology the Mission Technical Integration Contract (MTIC).

The two-year contract is worth $450 million and will begin Oct. 1, 2025.

Barrios will provide technical and management support to some of NASA’s human spaceflight programs, which include the Orion and Gateway programs, the International Space Station (ISS) and possibly more human spaceflight initiatives.

The contract represents a continuation of Barrios’ Human Space Flight Technical Integration Contract (HSFTIC), which has been in effect since 2020.

“We are incredibly proud to have been selected by NASA to continue working side by side with them in shaping the future of human space exploration,” Kelly Page, president of Barrios Technology, said in a news release.

The contract also includes support for program, business, configuration and data management, information technology, systems engineering and integration, mission integration, safety and mission assurance, and operations according to Barrios.

Barrios will be supported by subcontractors ARES Technical Services Corp., Booz Allen Hamilton, Intuitive Machines, Summit Technologies & Solutions, and TechTrans International (TTI).

“This award is a testament to the passion, hard work, and extraordinary value that our Barrios family brings every single day,” Page added in the release. “This is not just another contract award—it is the continuation of a generational commitment to our NASA customers and their critical missions.”

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