Turns out Austin-born millennials haven't moved too far. Photo by Getty Images

For the most part, Austin millennials have stayed close to home after entering adulthood, a new report indicates.

At age 26, nearly 70 percent of people who were born from 1984 to 1992 and raised in Austin remained there, according to the report. That leaves more than 30 percent who moved elsewhere.

Data compiled by researchers at Harvard University and the U.S. Census Bureau pinpoints Houston as the No. 1 target for millennials who lived in Austin at age 16 and grew up here but lived somewhere else in the U.S. at age 26. The Bayou City attracted 3.9 percent of millennial movers born from 1984 to 1992 (a large subset of the millennial generation) who grew up in Austin.

Bayou City was followed by San Antonio (3.1 percent), Dallas (2.8 percent), Killeen (1.3 percent), and Fort Worth (1.2 percent). These were the only Texas cities to surpass the 1 percent mark for the share of millennials born from 1984 to 1992 who had moved away from Austin. In 2022, these millennials are celebrating birthdays from 30 to 38.

These are the top five out-of-state destinations for Austin-raised, on-the-move millennials:

  • Los Angeles — 0.86 percent
  • New York City — 0.79 percent
  • Denver — 0.64 percent
  • Seattle — 0.50 percent
  • Washington, D.C. — 0.43 percent

The list of Texas places that sent millennials to Austin looks very similar to the list of places that gained millennials from Austin. The top five are Houston (6.7 percent of movers born from 1984 to 1992 who came to Austin), Dallas and San Antonio (3.7 percent each), Fort Worth (2 percent), and Brownsville (1.6 percent).

Los Angeles is the only out-of-state destination that broke the 1 percent barrier for millennials who relocated to Austin (1.6 percent), followed by Chicago (0.97 percent), Washington, D.C. (0.63 percent), Detroit (0.51 percent), and Boston and New York City (0.49 percent each).

The geographic regions cited in the report are not metro areas but, instead, are commuting zones. A commuting zone represents a collection of counties that define an area’s labor market.

Researchers relied on federal tax, population, and housing data to assemble the report.

The statistics for Austin largely align with nationwide trends. The researchers say 80 percent of young-adult movers in the U.S. had relocated less than 100 miles from where they grew up and 90 percent had moved less than 500 miles.

“The majority of young adults stay close to home,” the researchers explain. “Average migration distances are shorter for Black and Hispanic young adults than for White and Asian young adults. Average migration distances are also shorter for those with lower levels of parental income.”

“For many individuals,” the researchers conclude, “the ‘radius of economic opportunity’ is quite narrow.”

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This article originally ran on CultureMap.

Based on business activity in town, a new study ranks Houston as a top city for Asian Americans. Photo via Getty Images

Houston ranks as No. 3 city for Asian American entrepreneurs

diverse city

Known for its diversity, Houston ranks as the third best major metro area in the U.S. for Asian American entrepreneurs, according to a new study.

Personal finance website SmartAsset analyzed data for 52 of the largest metro areas to come up with the ranking. The analysis looked at nine metrics in three categories: prevalence of Asian-owned businesses, success of new businesses, and income and job security.

About 9 percent of the Houston metro area’s residents identify as Asian.

The SmartAsset study puts Houston in fifth place for the number of Asian-owned businesses (nearly 19,900) and in fourth place for the share of Asian-owned businesses (almost 17.9 percent) among all businesses. Furthermore, Houston ranks 14th for the increase (nearly 9.6 percent) in the number of Asian-owned businesses from 2017 to 2019.

Leading the SmartAsset list is the San Francisco metro area, followed by Dallas-Fort Worth. Austin comes in at No. 11 and San Antonio at No. 14.

The largest minority-owned business in the Houston area, as ranked by annual revenue, is Asian-owned private equity firm ZT Corporate.

Founded in 1997 by Chairman and CEO Taseer Badar, who was born in Pakistan, ZT Corporate is valued at more than $1 billion. ZT Corporate generates more than $900 million in annual revenue, according to the company, and employs over 3,000 people.

“As we look ahead, the vision for ZT Corporate is limitless. Our team will continue pushing boundaries and finding the bright spots in the economy that produce consistent financial gains for our investors,” Badar says in a news release marking his company’s 25th anniversary.

ZT Corporate’s flagship businesses are:

  • Altus Community Healthcare, a provider of health care services.
  • ZT Financial Services, a wealth management firm.
  • ZT Motors, which owns and operates auto dealerships. Last year, ZT Motors bought three Ron Carter dealerships in the Houston area.

“ZT Corporate is a vital asset to our citizens as a longtime local employer,” Houston Mayor Sylvester Turner says, “and has positively affected many lives through their health care organizations and philanthropic efforts.”

The city tapped key partners for the initiative, including a Houston startup. Photo courtesy

City of Houston launches annual career development and internship program for young adults

for the kids

City officials and business leaders in Houston are recruiting employers to collectively offer at least 12,000 paid jobs and internships this summer for local 16- to 24-year-olds.

Organizers on March 8 kicked off this year’s Hire Houston Youth initiative. It encourages employers in the public, private, and philanthropic sectors to bring aboard youth for summertime jobs and internships.

One of the program's partner is Ampersand, a Houston-based startup and tech platform that has designed a career-readiness curriculum for this age group. In partnership with the City of Houston, Ampersand customized a portion of its curriculum to upskill and prepare young Houstonians for the workforce across 35 lessons, five modules, and four hours of content — all of which provide essential job skills ranging from email best practices to mental health management in the workplace.

Employers can sign up for Hire Houston Youth online. The deadline for youth to apply for jobs or internships through this program has been extended from March 11 to April 8.

“Employment plays a pivotal role in reducing gender, ethnic, racial, and other social inequalities,” Mayor Sylvester Turner says in a news release. “Therefore, providing meaningful employment experiences for our youth is in the best interest of all, including young people, their communities, and Houston as a whole.”

In 2021, as the city coped with the height of the COVID-19 pandemic, Hire Houston Youth offered more than 9,500 opportunities. This year, Turner hopes the program can produce at least 12,000 jobs and internships, and as many as 15,000.

The National League of Cities recently awarded a $150,000 grant to Hire Houston Youth. In addition to the grant, Houston will receive assistance from National League of Cities staff and other experts to advance the city’s efforts to expand STEM career opportunities for marginalized young people.

The unemployment rate for 16- to 24-year-olds in the U.S. ranks as the highest among all age groups. In the pre-pandemic year of 2019, the national unemployment rate for the 16 to 24 age group stood at 8.4 percent. No other age group had an unemployment rate above 4.1 percent in 2019.

The jobless rate for people of color and lower-income people in this age group has historically been higher than the overall rate for that age group.

The pandemic exacerbated unemployment woes for 16- to 24-year-olds in the Houston area around the country. Data compiled by the Schultz Family Foundation and Mathematica shows that during the peak of the pandemic, youth unemployment rates in the Houston area ranged between a low of 12.6 percent from July to December 2020 and a high of 16.1 percent from January to June 2021.

The Measure of America project estimates that more than 4.1 million Americans in the 16-24 group are neither working nor attending school. In Harris County, 13.4 percent of 16- to 24-year-olds in Harris County met that definition in 2017, according to the Federal Reserve Bank of Dallas.

“The years 16-24 are crucial for the development of human capital — through activities such as education and workforce preparation that pay dividends in the form of higher wages, lower unemployment, and other benefits later in life. Yet even before the pandemic, many young people were disconnected from school and work and the economic opportunities that follow,” the Federal Reserve Bank of Dallas says in a 2021 report.

“Flex space has become a skeleton key that companies can use to address their changing office needs." Photo via Getty Images

Houston real estate report reflects growth in flex space

flexing on Hou

Flex office space is finding favor with businesses in Houston.

While the Houston area’s office vacancy rate climbed as high as 25 percent last year, the region recently added more flex office space than any other U.S. office market on a percentage basis. From the fourth quarter of 2020 through the third quarter of 2021, the Houston market gained a little over 5 percent more flex space compared with the previous 12-month period, according to a data analysis by Dallas-based commercial real estate services provider CBRE.

Dallas-based Common Desk, a provider of flex office space being acquired by coworking giant WeWork, accounted for 84 percent of the Houston market’s net expansion of flex office space during the 12-month span analyzed by CBRE. Of the 152,977-square-foot net expansion during that time, Common Desk represented 129,000 square feet, CBRE says.

Common Desk has six open or soon-to-open spaces in the Houston area: five locations in Houston and one location in Spring. Aside from Common Desk, flex space operators in the Houston market include Houston-based Boxer Property Management and Austin-based Firmspace, as well as New York City-based companies Industrious, Serendipity Labs, and WeWork.

As of the third quarter of 2021, Houston’s inventory of flex office space stood at 3.1 million square feet. That was the seventh largest inventory among the 49 North American markets examined by CBRE. Flex space made up 1.4 percent of overall office space in Houston.

Flex office space appeals to a variety of tenants, such as startups looking to cut costs, businesses needing short-term space, and companies navigating the pandemic-driven rise in hybrid work arrangements.

“During the pandemic, flexible space has become a more important office amenity in Houston as companies respond to employee desires for flexibility in how they work,” Rich Pancioli, executive vice president in the Houston office of CBRE, says in a news release. “As companies seek to optimize their office portfolios, many are using flexible space as a key tool to test new strategies in a fast-changing environment.”

At one time, CBRE clients heavily emphasized amenities like food services, fitness centers, and health care facilities during their office searches, Pancioli says. Now, many clients are placing a greater priority on flex space or coworking space.

As demand goes up, developers such as Toronto-based Brookfield Asset Management and Houston-based Hines (whose offering is known as The Square) have dipped their toes into the flex office pool. Hines has two flex office spaces in Houston and one space in Salt Lake City. When Hines rolled out The Square in 2019, it identified Atlanta, Boston, Denver, New York City, the San Francisco Bay Area, and Washington, D.C., as potential expansion markets.

While Houston’s availability of flex office space increased during the period studied by CBRE, flex space providers in North America collectively trimmed their portfolios by 9 percent. That led to a decline in the sector’s share of the overall office market from about 2 percent to about 1.75 percent. However, a CBRE survey of 185 U.S.-based companies finds a growing appetite for flex space.

“Flex space has become a skeleton key that companies can use to address their changing office needs,” says Julie Whelan, CBRE’s global head of occupier research.

“They can use it to adjust their office portfolio as they figure out how hybrid work will affect their employees’ office use patterns. They can use flex space to quickly secure a foothold in new markets to tap a different base of talent,” she adds. “Some will use flexible office space to offer employees more choice like access to physical space closer to their homes. In short, flex space allows companies to be more nimble.”

Houstonians and visitors alike have a new technology to help them find their way around town. Photo courtesy of the city of Houston

Houston installs new smart city tech to better engage community and visitors

upgrade

Finding your way around Houston is going digital.

On February 7, city officials and others unveiled the first in a series of interactive wayfinding kiosks in Houston. The inaugural kiosk sits at Walker Street and Avenida De Las Americas, adjacent to the George R. Brown Convention Center.

IKE (Interactive Kiosk Experience) Smart City, a venture of Columbus, Ohio-based Orange Barrel Media, secured the city contract for the kiosks.

According to a City of Houston news release, the citywide IKE initiative is designed “to build smart city infrastructure that enhances the pedestrian experience for residents and visitors, while adding vibrancy to Houston’s urban landscape.”

The new IKE kiosks are touch screen. Photo courtesy of the city of Houston

Installation of the 25 IKE kiosks will happen in phases. Among the areas where kiosks will appear are downtown, Uptown, Midtown, Montrose, the Museum District, the Texas Medical Center, the Greater Third Ward, EaDo, Upper Kirby, Gulfton, and Sunnyside.

Mayor Sylvester Turner says Houston “has so much to offer, and the IKE digital kiosks will be an exciting new amenity to help guide people in various directions to enjoy events, restaurants, and much more. These kiosks are one of the many ways Houston is moving forward with creating more walkable spaces that make for a safer and more pleasant experience.”

Each free-to-use kiosk serves as a geo-located Wi-Fi hotspot that enables information about what’s in the vicinity to be displayed on dual-sided touchscreens. The multilingual kiosks feature detailed listings of nearby restaurants, shops, businesses, cultural institutions, events, social services, and other resources. The kiosks also supply information about transportation modes such as public transit, bike share, scooters, ride-hailing, and walking.

Furthermore, the IKE system spreads critical real-time emergency information. This could include alerts about hurricanes, active-shooter situations, and missing people.

As if that weren’t enough, IKE has teamed up with the Contemporary Arts Museum Houston to promote their exhibitions and artwork on the kiosks.

“We are excited to partner with the City of Houston, one of the largest and most diverse cities in the country. IKE will further activate the pedestrian experience providing widespread connectivity and equal access to information to all communities,” says Pete Scantland, CEO of IKE Smart City. “We look forward to serving Houston’s residents and visitors through IKE.”

The first IKE kiosk was unveiled February 7. Photo courtesy of the city of Houston

Houston job growth is taking a while to bounce back, according to a new report. Photo by Scott Halleran/Getty Images

Houston scores surprising ranking in new U.S. job growth report

growing pains

The COVID-19 pandemic continues to hammer job markets around the country.

In Houston, a booming metropolis by any measure, latest figures from the Greater Austin Chamber of Commerce’s recent report give the Bayou City a 27th-place ranking among the 50 biggest metro areas in the U.S.

That works out to a negative 2 percent growth, per the study and a far cry from Austin. From February 2020 to November 2021, the Austin area posted a job growth rate of 4.11 percent, landing the Capital City at No. 2 on the jobs list of the best-performing markets among the top 50 metros, slightly below the 4.14 percent rate for the No. 1 rated Salt Lake City area, according to the chamber’s report.

For February 2020 to November 2021, here are the job growth rates for Texas’ other major metro areas, according to the Austin chamber:

  • Dallas-Plano-Irving — 4.1 percent, fourth-place ranking among the 50 biggest metro areas.
  • Fort Worth-Arlington — 2.2 percent, fifth-place ranking among the 50 biggest metro areas.
  • San Antonio — 1.3 percent, ninth-place ranking among the 50 biggest metro areas.

In an employment forecast, the Greater Houston Partnership calls for some 75,500 jobs to be created in 2022. The greatest gains, per the report, will occur in administrative support and waste management; government; health care and social assistance; and professional, scientific and technical services.

Yet, with this healthy job growth, Houston will likely fall 10,000 to 20,000 jobs shy of pre-COVID employment levels at the end of 2022, the report surmises.

Despite Houston’s job market not having rebounded to its pre-pandemic level, Austin-based job website Indeed recently ranked Houston one of the best U.S. cities for recent graduates seeking employment. Indeed cited opportunities in Houston sectors such as aerospace, aviation, and digital technology.

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This article originally ran on CultureMap.

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VC roundup: Here's what Houston startups raised funds last quarter

following the money

Houston startups are keeping pace when it comes to venture capital raised this year. In this roundup of funding closed in the second quarter, Houston businesses across sectors and industries close significant rounds from seed to series C.

Eleven startups raised over $222 million last quarter, according to InnovationMap reporting, which is more than in the first and second quarters. In chronological order, here's what companies snagged fresh funding recently.


Houston EV charging tech company raises $6M series A

Revterra Corp. closed a $6 million series A round led by Equinor Ventures. Photo courtesy of Revterra

Houston-based tech company Revterra Corp. has picked up $6 million in a series A funding round to propel development of its battery for electric vehicle charging stations.

Norway’s Equinor Ventures led the round, with participation from Houston-based SCF Ventures. Previously, Revterra raised nearly $500,000 through a combination of angel investments and a National Science Foundation grant.

Revterra says its kinetic flywheel battery enables quick, simple, cost-effective installation of high-powered DC chargers for electric vehicles. The technology eases the burden placed on electrical grids, the company says. Continue reading.

Houston-founded blockchain startup raises $15M series A to increase international impact

Topl's latest fundraising round includes participation from a Houston investor as well as international partners. Image via Getty Images

A blockchain technology company that was founded out of Rice University has closed its latest round of funding.

Founded in 2017, Topl is a blockchain-as-a-service company that's developing a purpose-built blockchain ecosystem to empower impact and sustainability within its userbase of businesses. The company's $15 million series A round was co-led by Houston-based Mercury, Republic Asia, and Malta-based Cryptology Asset Group.

“Topl’s blockchain was purpose built to power the next wave of supply chains and markets, that are more sustainable and inclusive,” says Chris Georgen, founder and managing director of Topl, in a news release. “Every decision we’ve made has been relentlessly focused on this problem and it’s exciting to see this approach yielding results with more than 30 different impact-forward use cases already live or approaching launch." Continue reading.

Houston-based gig economy startup raises $1.2M, launches beta platform

Madison Long, left, and Simone May co-founded Clutch to democratize side gig success on college campuses. Photo courtesy of Clutch

Two Houstonians on a mission to enable safe and equitable entrepreneurship on college campuses have launched a new beta platform and closed pre-seed funding.

Clutch, a digital marketplace startup founded by Simone May and Madison Long, closed its pre-seed round of funding at $1.2 million – led by Precursor Ventures and other partners such as Capital Factory and HearstLab. The investment from this round will support Clutch’s national open beta launch of its platform for brands and student creators nationwide and its continued investment in customer and product strategy.

“We are at this inflection point where marketing is changing,” May says in a press release. “We know that the next generation can clearly see that and I think a lot of marketing agencies are starting to catch on. We need to be prioritizing the next generation’s opinion because they are driving who is interested in what they buy. This upcoming generation does not want to be sold to and they don’t like inorganic, inauthentic advertisements. That’s why user generated content is so big, it feels authentic.” Continue reading.

Houston hydrogen startup closes $25M series B

This hydrogen company has fresh funding. Photo via utility.global

Utility Global, a Houston-based sustainable hydrogen company, has closed its series B round of funding to the tune of $25 million, Axios reports.

Houston-based private equity firm Ara Partners led the round. Other participating investors included: Samsung Ventures, NOVA, and Aramco.

Utility Global, founded in 2018, has developed a clean hydrogen solution. The proprietary tech — called the eXERO Technology Platform — includes a zero electricity process that converts sustainable waste streams into high-purity hydrogen. Additionally, the company developed its H2Gen Product Line that delivers customers reliable, low carbon, and high purity hydrogen, which offers unparalleled feedstock flexibility and highly competitive economics. Continue reading.

Industrial blockchain tech company headquartered in Houston closes $4M series C round

Houston-based Data Gumbo, an industrial blockchain-software-as-a-service company, announced that its latest round or funding. Photo courtesy of Data Gumbo

Data Gumbo, a Houston-based tech startup, has picked up $4 million in a series C round from the venture capital arms of foreign energy companies Saudi Aramco and Equinor.

The funding for Data Gumbo came from Saudi Aramco Energy Ventures, the VC subsidiary of government-owned oil and natural gas giant Saudi Aramco, and Equinor Technology Ventures, the VC subsidiary of Norwegian energy operator Equinor. The U.S. headquarters for both Saudi Aramco and Equinor are in Houston. Continue reading.

Houston company raises $138M for next-generation geothermal energy

The future of geothermal energy is here — and just got a big payday. Photo via Getty Images

Houston-based startup Fervo Energy has picked up $138 million in funding to propel its creation and operation of carbon-free power plants fueled by geothermal energy.

Fervos says the series C round will help it complete power plants in Nevada and Utah and evaluate new projects in California, Idaho, Oregon, Colorado, and New Mexico, as well as in other countries.

California-based investment firm DCVC led the round, with participation from six new investors. Continue reading.

Houston 'sneakerheads' raise $8.9M to further develop digital marketplace

Tradeblock's three co-founders have known each other since childhood. Photo via tradeblock.us

A Houston-based company is kicking it with some fresh funding with plans to expand development of its marketplace platform.

Unique sneaker trading platform, Tradeblock, has raised $8.9 million in funding from investment partners Courtside VC, Trinity Ventures, and Concrete Rose Capital. Per the news release, the company expects additional funding of around $4.5 million to its seed round.

Tradeblock — founded in 2020 by self-proclaimed "sneakerheads" and childhood friends Mbiyimoh Ghogomu, Tony Malveaux, and Darren Smith — will use the fresh funding to expand and improve its digital marketplace for shoes. Continue reading.

Health tech startup with Houston HQ raises $14M series A

Optellum, which has its United States operations based in the TMC Innovation Institute, has raised fresh funding. Photo via Getty Images

A Oxford-based health tech startup that has its United States headquarters in Houston has announced the close of its series A round of funding.

Optellum, which has created a breakthrough AI platform to diagnose and treat early-stage lung cancer, has raised $14 million in a series A funding round. The round was led by United Kingdom-based Mercia, with additional investors California-based Intuitive Ventures and New York-based Black Opal Ventures. Existing investors, including St John's College in the University of Oxford, IQ Capital, and the family office of Sir Martin & Lady Audrey Wood, also participated in the round, per a news release.

"Lung cancer is an urgent public health crisis and Optellum's groundbreaking approach utilizing AI to accelerate early detection and intervention may fundamentally alter the healthcare community's approach to combating this disease," says Dr. Oliver Keown, managing director of Intuitive Ventures, in the release. "Optellum is uniquely positioned to align and provide considerable value to patients, providers, and payers alike. Intuitive Ventures is thrilled to provide our full arsenal of financial and strategic support to Optellum as we work towards a world of better outcomes for cancer patients." Continue reading.

Houston-based biomaterials company raises $1.1M to grow team, build new HQ

BUCHA BIO has raised over $1 million to grow its team, build a new headquarters, and accelerate its go-to-market strategy. Image courtesy of BUCHA BIO

A Houston company that has created a plant-based material that can replace unsustainable conventional leathers and plastics has announced the close of its oversubscribed seed funding round.

BUCHA BIO announced it's raised $1.1 million in seed funding. The round included participation from existing partners New Climate Ventures, Lifely VC, and Beni VC, as well as from new partners Prithvi VC, Asymmetry VC, and investors from the Glasswall Syndicate, including Alwyn Capital, as well as Chris Zarou, CEO & Founder of Visionary Music Group and manager of multi-platinum Grammy-nominated rapper, Logic, the startup reports in a news release.

“I’m excited to back BUCHA BIO’s amazing early market traction," Zarou says in the release. "Their next-gen bio-based materials are game-changing, and their goals align with my personal vision for a more sustainable future within the entertainment industry and beyond.” Continue reading.

Houston-based Codenotary has expanded its series B fundraising round

Codenotary's software enables tools for notarization and verification of the software development life cycle. Photo via Getty Images

A Houston software startup that raised $12.5 million earlier this year has announced additional funding of $6 million. Codenotary, whose technology helps secure software supply chains, closed its series B round in January. The fresh funding brings the company's total investment raised to $24 million — thanks to investors Bluwat and Elaia.leaders and following a series A round that was announced in 2020.

Codenotary, formerly known as vChain, was founded in 2018 by CEO Moshe Bar and CTO Dennis Zimmer. The additional capital, which will go towards scaling up sales in the U.S. and Europe as well as entering the Asian market, was raised as an extension of the series B round. Continue reading.

Houston-based virtual reality startup raises $3.2M in first outside capital round

VR training startup, HTX Labs, has raised funding from an outside investor for the first time. Courtesy of HTX Labs

HTX Labs, a Houston-based company that designs extended reality training for military and business purposes, announced last week that it has raised its first outside capital.

The company has received a $3.2 million investment from Cypress Growth Capital. Founded in 2017, HTX Labs — developer of the EMPACT Immersive Learning Platform — has been granted funding from the Department of Defense as well as grown its client base of commercial Enterprises. The platform uses virtual and extended reality that "enables organizations to rapidly create, deploy, measure, and sustain cost-effective, secure, and centralized immersive training programs, all within engaging, fully interactive virtual environments," per a news release.

“We have been looking to secure outside capital to accelerate the growth of our EMPACT platform and customer base but we hadn’t found the right partner who provided an investment vehicle that matched our needs,“ says HTX Labs CEO Scott Schneider in the release. Continue reading.

Houston robotics company secures multi-million-dollar government contract

more collaboration

Webster-based Nauticus Robotics Inc., a newly minted public company, continues to make waves with government contracts.

Nauticus says it has been awarded a second multimillion-dollar contract from the U.S. Defense Innovation Unit, part of the U.S. Defense Department, for development of a self-piloted amphibious robot system powered by the company’s ToolKITT command-and-control software.

In February, Nauticus said it had been given a ToolKITT contract by the Defense Innovation Unit. Under that contract, ToolKITT is being used aboard a remotely controlled undersea vehicle operated by the Navy.

Similar contracts with the Defense Innovation Unit could be on the horizon, Nauticus says.

Nauticus develops oceangoing robots under the brand names Aquanaut and Hydronaut, along with the ToolKITT autonomy software and related services. It’s forecasting 2023 revenue of $90 million.

Driven by machine learning, ToolKITT helps identify, categorize, and perform activities that can “remove, detect, identify, inspect, and neutralize hazards underwater,” according to a Nauticus news release.

ToolKITT is used for various self-piloted robotics products, including Nauticus’ Aquanaut.

“We are humbled and honored to be doing our part to advance the usage of robotics and autonomous systems to remove servicemembers from harm’s way,” says Ed Tovar, director of business development for defense systems at Nauticus.

Nauticus’ stock began trading September 13 on the Nasdaq market. The milestone came four days after Nauticus merged with publicly traded CleanTech Acquisition Corp., a “blank check” shell company formed to acquire or merge with a business. At one point, the merger was valued at $560 million.

The new combo, operating under the Nauticus name, is led by Nauticus founder and CEO Nicolaus Radford.

“The closing of this business combination represents a pivotal milestone in our company’s history as we take public our pursuit of transforming the ocean robotics industry with autonomous systems,” Radford says in a news release. “Not only is the ocean a tremendous economic engine, but it is also the epicenter for building a sustainable future.”

Houstonian designs new experiences to encourage innovation in students

HOUSTON INNOVATORS PODCAST EPISODE 154

As director of social innovation at Teach For America Houston, it's Sarah Essama's job to come up with new ways for the organization to support both students and teachers. But, as she explains on the Houston Innovators Podcast this week, Essama realized a huge lesson modern students needed was to learn this innovation process themselves.

Part of being an educator is to prepare students for tomorrow, Essama explains, but with rapid technology development and adaption, no one knows what the future will hold for the job market or the world in general. The best way to prepare the future generation of the workforce is to teach them how to innovate, think differently, and adapt to new ways of doing things.

"That's what people are looking for right now — people who can provide out-of-the-box solutions to problems," Essama says on the show.

This line of thinking turned into Essama founding The Dream Lab, powered by Teach for America Houston.

"The Dream Lab is a set of immersive design spaces where young people leverage their imagination and creativity to innovate and solve problems within their community," she explains.

Last month, the new concept rolled out to high school students in partnership with DivInc Houston, a nonprofit focused on social and economic equity in entrepreneurship, and 21 ninth graders spent the day at the Ion for a mini-innovation accelerator and design showcase.

Strategically, Essama tapped into the Houston innovation ecosystem with the intent of showcasing the community.

"Innovation to me is being able to create something that has never been seen or done before — and that has a very important purpose," she says. "Exposing ourselves to innovation and people who think this way — and learning from them —is key to be able to be competitive tomorrow."

Essama says this program is still in the development phase. She's been testing out the concept with fourth graders and now ninth graders. She hopes the full program will be up and running by next fall.

She shares more details about the grant and the future of The Dream Lab on the podcast. Listen to the interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.