Houston health tech startup secures $20M series A, NIH grant amid clinical trials

fresh funding

VenoStent has raised additional funding. Image courtesy of VenoStent

A clinical-stage Houston health tech company with a novel therapeutic device has raised venture capital funding and secured a grant from the National Institutes of Health.

VenoStent Inc., which is currently in clinical trials with its bioabsorbable perivascular wrap, announced the closing of a $20 million series A round co-led by Good Growth Capital and IAG Capital Partners. The two Charleston, South Carolina-based firms also led VenoStent's 2023 series A round that closed last year at $16 million.

Additionally, the company secured a $3.6 million Small Business Innovation Research (SBIR) Phase II Grant from NIH, which will help fund its multi-center, 200-patient, randomized controlled trial in the United States.

Tim Boire, VenoStent CEO and co-founder, describes 2024 so far as "a momentous year" so far for his company.

"In the span of a few months, we initiated our first clinical sites, enrolled the first patients in our large RCT and closed our Series A with Norwest," Boire says in a news release. "We also received the NIH grant, which enables us to execute our trial with the highest degree of quality and rigor to make it as scientifically robust and impactful to patients as possible.

'Each of these are major company milestones that collectively represent many years of intensive and fruitful R&D and collaboration," he continues. "These recent milestones will propel our company forward to an exciting next phase."

Tim Boire is the CEO and co-founder of VenoStent. Photo via LinkedIn

The company's innovation, the SelfWrap, goes around arteriovenous (AV) access sites at the time of AV fistula creation surgery. The device is intended "to accelerate the usability and increase the durability of the fistula sites for chronic kidney disease (CKD) patients requiring hemodialysis," reads the release, "mimicking the arterial environment in veins, which experience a 10x increase in pressure and flow during AV creation and causes the veins to become unusable in dialysis."

Along with the investment, VenoStent announced two new board observers. Norwest General Partner Dr. Zack Scott and Investor Dr. Ehi Akhirome are bringing their expertise to the growing company.

"Norwest's investment is tremendous validation for VenoStent, and we are thrilled to have both Zack and Ehi joining the company's board," VenoStent COO and Co-Founder Geoffrey Lucks adds in the release. "Zack and Ehi have extensive knowledge in our space, and their added value will match the capital and cache of Norwest dollar-for-dollar."

Last year at the same time VenoStent announced its last funding round, the SelfWrap was approved by the U.S. Food and Drug Administration to begin its U.S. Investigational Device Exemption (IDE) study.

"Over half a million people in the U.S. rely on hemodialysis to survive and require an arteriovenous fistula creation surgery in order to receive the treatment. However, the AV fistula procedure has a one-year failure rate of more than 60 percent, which significantly impacts patients' survival rates and quality of life," Scott says in the release. "VenoStent's groundbreaking technology for AV fistula formation, SelfWrap, has the potential to significantly improve these odds. We look forward to working with the VenoStent team as it proves the efficacy of this breakthrough technology in order to improve the lives of hundreds of thousands of CKD patients."

Last summer, Boire told InnovationMap on the Houston Innovators Podcast that he's looking to launch the product in 2026.

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Jessica Traver Ingram, CEO and co-founder of IntuiTap, joins the Houston Innovators Podcast to share her company's latest milestone. Photo courtesy of IntuiTap

With FDA approval, Houston health tech company prepares nationwide deployment

Houston innovators podcast episode 232

Jessica Traver Ingram has been captivated by the intersection of physics and health care for most of her life, and that passion led her to contributing to the establishment of the Texas Medical Center's Biodesign Fellowship. After helping make the program a reality, Traver Ingram then participated in it as a fellow.

The program selects fellows and then lets them explore the TMC's member institutions to find ways to innovate within unmet clinical needs, and the inefficiency and challenges with placing epidurals and lumbar punctures caught Traver Ingram and her cohort's eye. The process relies completely on the health care practitioner's ability to feel the spine with their fingers to make the injection.

"We kept watching the inefficiencies of these procedures, and everyone was like, 'you're right, we don't really know why we do it this way,'" Traver Ingram says on the Houston Innovators Podcast. "It's really cool to be outsiders watching and observing, because you just see things other people don't see — and that's in any industry."

With that, IntuiTap was born. Traver Ingram describes its tool, the VerTouch, as a "stud finder for the spine." After years of growing the company, she can also now call it FDA-approved.

"FDA clearance allows us to market the device in the United States, so we are entering the commercial launch stage of the company, which is really exciting," Traver Ingram says. "We plan to have these devices available in hospitals across the country within the year."

First up is what Traver Ingram calls a soft launch. The company is picking five institutions that want to be centers of excellence for the device and doing trial launches there before entering into a greater, nationwide rollout.

"It's just crazy that what started as just an idea on paper is now FDA approved and commercially ready and something that patients can see in hospitals this year," Traver Ingram says.

And the timing is important, she explains, adding that where the health care industry seems to be at as a whole is primed for innovation like IntuiTap.

"There's a lot of really exciting developments happening in health care right now," Traver Ingram says. "I feel like we're really at a tipping point for innovation and we're going to see some really big leaps in the next couple of years.

"One of the exciting trends I think that we're seeing is a shift away from blind procedures or procedures that are seen as an art requiring a significant amount of skills toward more science-based, safer, consistent, and repeatable procedures," she continues. "We fit really well into that category, so I'm glad that we're seeing that shift."

Mara McFadden (left), CEO of Endolumik, took home the top prize at the Ignite Fire Pitch Competition. Photo courtesy of Ignite

Houston organization doles out over $775,000 in prizes to women-led health tech startups

and the winner is

After virtual and postponed events, Ignite Healthcare Network finally got to honor its 2021 cohort and name the annual winners.

The Fifth Annual Fire Pitch Competition was slated to take place last November, but was postponed to January. Affected by the Delta and then Omicron variants of COVID-19, the event finally got to return to in-person networking and pitches on Thursday, March 3.

"The opportunity to bring people together is a really different level of engagement and energy," Ayse McCracken, founder and board chair of Ignite, says ahead of the awards event. "We love seeing the energy that's being generated in Houston around innovation — and particularly health care innovation."

Seven companies pitched and three were awarded monetary prizes. Morgantown, West Virginia-based Endolumik, which has developed a patent-pending fluorescence-guided device to improve visualization and safety of robotic and laparoscopic bariatric operations, took home the top prize, which included a total of $500,000 in investment prizes from the Texas Medical Center Venture Fund and Wavemaker Three-Sixty Health.

Second place was awarded to Rx Bandz of Locust Valley, New York. The company created the MiniJect, the world’s smallest military-grade auto-injector designed to deliver a wide range of injectable medication, and was awarded $250,000 from the Texas Halo Fund and $25,000 from The Southwest National Pediatric Device Innovation Consortium.

San Antonio-based Hera Biotech took third place and was awarded a pilot program prize with Banner Health. Hera has developed the first non-surgical, tissue-based test capable of diagnosing endometriosis.

Ignite taps into Houston health care institutions to provide opportunities for its cohort of companies. According to a news release, this year’s partner organizations included Houston Methodist, Memorial Hermann Health System, Texas Children’s Hospital, Texas Children’s Pediatrics, The Menninger Clinic, Banner Health, Kindred Healthcare, Aetna, Commonwealth Care Alliance, BLUE KC, Hospital for Special Surgery, Summit Health, TMC Ventures, Texas Heart Institute, Golden Seeds, Portfolia, The Artemis Fund, Wavemaker 360 Health, Prosalus Capital Partners, 7Wire Ventures, Texas Halo Fund, Unity Point Ventures and others.

The judges who evaluated the competition’s panel of companies included:

Jay Goss, MBA General Partner, Wavemaker Three-Sixty Health
Amanda Hammel, Chief Information Officer, Memorial Hermann Health System
Karen Hill, MD, MBA, SVP and Chief Medical Officer, Texas Children’s Health Plan
Tom Luby, PhD, Director, Texas Medical Center Innovation Institute
Fiona Mack, PhD, Head of JLABS @TMC
Roberta Schwartz, PhD, EVP and Chief Innovation Officer, Houston Methodist Hospital
Andrew Truscott, Global Health Technology Lead, Accenture

These five InnovationMap stories were the most read of 2021. Photo by Dwight C. Andrews/Greater Houston Convention and Visitors Bureau

Here are Houston's top 5 health innovation stories of 2021

2021 in review

Editor's note: As 2021 comes to a close, InnovationMap is looking back at the year's top stories in Houston innovation. When it came to the health care innovation and technology — whether it's a Q&A with a health tech entrepreneur or a digital health startup raising funds — in Houston, five stories trended among readers.

Fresh off a $1.4B exit, this Houston innovator is focused on funding medical device tech

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

Earlier this year, Houston-based serial entrepreneur Larry Lawson celebrated the exit of his medical device company, Preventice Solutions, which he sold to Boston Scientific Boston Scientific in a $1.4 billion deal.

Nowadays, Lawson is laser focused on investing in the Houston innovation ecosystem, particularly in medical device, as well as working on Proxima Clinical Research, a contract research organization in the Texas Medical Center he co-founded with Kevin Coker.

Lawson joined InnovationMap for a Q&A about the exit, his role on the boards of five med device companies, and his investment activity. He also shares how he sees the impact of COVID-19 and where Houston's burgeoning innovation ecosystem is headed. Click here to read the full article.

Houston founder talks growth and innovation in the pharmaceuticals industry

Shaun Noorian, founder and CEO of Empower Pharmacy, joined InnovationMap for a Q&A on his rapidly growing compounding pharmacy business. Photo courtesy of Empower Pharmacy

When Shaun Noorian encountered what he felt was a poorly ran process, as an engineer, he built something better. Now, he runs one of the nation's largest compounding pharmacies that's at a pivotal time for growth.

Headquartered in Houston, Empower Pharmacy is opening two new facilities locally — one debuts later this year and the other in 2022. Ahead of this milestone for his company, Noorian joined InnovationMap for a Q&A about how he decided to start his company and how he's grown it from a small office to two 85,000-square-foot facilities — as well as how Houston has been a big part of his company's success. Click here to read the full article.

Report: Houston ranks among the worst cities for unnecessary medical treatments

Houston hospitals have been reported to have an excess of unnecessary health care tests and procedures. Photo by Dwight C. Andrews/Greater Houston Convention and Visitors Bureau

Houston boasts of being home to the Texas Medical Center, the world's biggest medical complex. Yet Houston's medical community also holds a distinction that's hardly boast-worthy: It's the worst major metro area in Texas for unnecessary health care tests and procedures.

A study released May 4 by the Lown Institute, a health care think tank, shows hospitals in the Houston area collectively fare worse than their counterparts in Dallas-Fort Worth, San Antonio, and Austin for overuse of tests and procedures that the institute says offer little to no benefit.

To come up with its ranking, the institute looked at Medicare data for more than 1 million tests and procedures performed at over 3,100 U.S. hospitals from 2016 to 2018. Among the overused tests and procedures identified in the study are hysterectomy for benign disease, placement of coronary stents for stable heart disease, and diagnostic tests like head imaging for fainting.

"Overuse in American hospitals is a pervasive problem that needs to be addressed," Dr. Vikas Saini, president of the Lown Institute, says in a news release. "Hospitals want to do better, and these objective measures of performance can help them move forward." Click here to read the full article.

These are the 7 newest health tech companies to join TMCx

After a virtual bootcamp, the TMCx team selected seven startups to move forward in the accelerator. Photo courtesy of TMC

Last year, TMCx, the Texas Medical Center's health tech startup accelerator pivoted to digital programming.

The accelerator revamped its program to allow for an initial Bootcamp stage that would bring in a larger group of startups and then, after the boot camp, the program would move forward with a smaller group through the official acceleration process.

"We hosted 21 companies, representing six countries and 10 states, who each engaged with subject matter experts, clinical leaders, and corporate partners," writes Emily Reiser, senior manager of Innovation Community Engagement at TMC Innovation, in a blog post. "Over half of which ended Bootcamp in advanced discussions with hospitals and/or corporate partners." Click here to read the full article.

Houston biotech startup announces merger and $10M series A

A biotech startup focused on developing therapeutics for neurodegenerative and autoimmune diseases has some big news to share. Photo via Getty Images

A Houston company has emerged from stealth mode to announce a merger and a round of financing.

Coya Therapeutics, a clinical-stage biotech startup that focuses on creating therapeutics for neurodegenerative and autoimmune diseases, announced that it has completed a merger with Nicoya Health Inc. and raised $10 million in its series A. The round was led by Florida-based Allele Capital Partners LLC. Howard Berman, founder and board of directors for imaware, has been named CEO of Coya, as well as a member of the company's board of directors.

Coya's therapeutics uses innovative work from Dr. Stanley H. Appel, co-director of Houston Methodist Neurological Institute and Chair of the Stanley H. Appel Department of Neurology at Houston Methodist Hospital. The researcher has created a way to "isolate dysfunctional Tregs from a patient, convert them to a highly functional and neuroprotective condition, and expand these cells into the billions for intravenous reinfusion back to the patient," says Berman in a news release. This revolutionary work overcomes previous limitations in the field.

"I'm excited to have the opportunity to lead Coya at such an exciting and pivotal phase of growth," Berman says. "Through our sponsored research program in conjunction with Dr. Appel, we look forward to continuing advancement of this promising work and translating this work into a meaningful therapy for patients." Click here to read the full article.

These Houston startups have created health care-related solutions amid the coronavirus outbreak. Getty Images

These 7 Houston health tech companies are providing COVID-19 solutions

startups to the rescue

It's all hands on deck in Houston in the battle against coronavirus — and local biotech startups have risen to the occasion.

From mental health solutions and online portals to virtual medicine and new treatments, these Houston companies have recently launched or pivoted to new options in health care.

Mental Health Match

Ryan Schwartz is offering free counseling to Texans. Photo courtesy of Mental Health Match

Mental Health Match, a Houston-based startup that uses tech to easily connect people to mental health professionals, has announced the opportunity for 100 Texas residents to get their first appointment free and remotely.

The company cites data that shows:

A 78 percent increase in Texans who are concerned about their marriage
A 71 percent increase in Texans concerned with their parenting or their children
A 35 percent spike in Texans feeling panicked

"You might be practicing social distancing, but you are not alone. It is easier to make it through this together if you can get support and guidance from a skilled professional. That's why we're working with therapists across Texas to provide a free session to individuals who need it most," says Ryan Schwartz, founder of Mental Health Match, in a news release.

Texans can apply for the free sessions online on a first-come, first-served basis.

Medical Informatics Corp.

Medical Informatics Corp.'s Sickbay platform can monitor patients from afar. Photo via michealthcare.com

Houston-based Medical Informatics has created a virtual ICU program, called Sickbay, and the tech tool is being used to remotely monitor patients in Houston Methodist. The program works around the clock from a control hub to use artificial intelligence and algorithms to monitor patients.

The company, which recently moved into its office in TMCx+, announced major growth in January, just ahead of the coronavirus outbreak.

"We designed our Sickbay platform to give lost data back to doctors, nurses and other members of the care team so they could save more lives," says Vincent Gagne, vice president of product for MIC, in a news release. "In fact, our apps are built in collaboration with our clients, such as Texas Children's Hospital and Houston Methodist. Having these facilities blocks away from our headquarters accelerates that collaboration and development."

MolecularMatch

MolecularMatch is bringing together COVID-19 information and trials. Photo via molecularmatch.com

MolecularMatch, a Houston startup focused on clinical informatics, has launched a free portal that accumulates research and clinical trials for COVID-19. The company is a tenant of TMCx+ and a portfolio company of Houston-based venture capital group GOOSE.

"The number of therapeutic cures and vaccines being tested are growing at an astounding rate," says Eric Pulaski, CEO at MolecularMatch, in a news release. "Our tools make it easier for clinicians and patients to find the help they need. Hopefully, we can help save lives by shortening the time it takes to get more patients into clinical trials and by speeding up research to find cures and vaccines."

The product uses the company's artificial intelligence-backed curation platform and is updated every two to three days.

Luminare

Luminare Inc. pivoted to quickly create an online COVID-19 screening tool, and local governments have tapped into the resource.Andriy Onufriyenko/Getty Images

Founded in 2014, Houston-based health care software startup Luminare Inc. seeks to prevent sepsis, a life-threatening reaction to a host of infections that causes about one-third of U.S. hospital deaths. Recently, though, Luminare pivoted to address another health concern — the threat of the novel coronavirus.

After the novel coronavirus surfaced, Luminare retooled its sepsis-detection platform to create a free online self-assessment test for people who suspect they've contracted the virus. The test, available at CheckForCorona.com, helps someone figure out whether they should seek a coronavirus test.

An online screening typically takes less than two minutes. The confidential, secure assessment complies with guidelines from the U.S. Centers for Disease Control and Prevention (CDC) and the World Health Organization (WHO). Based on your assessment results, you might be directed to contact your local health department or, in the worst-case scenario, call 911. Click here to read more.

Manatee

Manatee users can sign up for three months free. Photo via getmanatee.com

Denver-based Manatee was just announced to be selected for the 2020 TMCx cohort, and — while programming is beginning virtually — the startup will be enroute to Houston as soon as it's safe. Manatee focuses on providing connected, everyday therapy for kids.

In light of the effects of COVID-19 on both parents and children, Manatee has allowed users to register for three months free. Individuals can apply online.

Moleculin Biotech Inc.

Houston-based Moleculin, which works on oncology treatment, has filed a patent for its treatment to battle the coronavirus. Getty Images

Houston-based Moleculin Biotech Inc., a clinical stage pharmaceutical company that typically focuses on cancer treatment, announced that it has filed for a new patent for its use of one of its products to be used against the coronavirus and other potential viruses.

This patent application is for Moleculin's WP1122, and the company has entered into a partnership with a major Texas university to advance its research.

"We've actually been working on the antiviral potential of WP1122 for some time now," says Walter Klemp, Moleculin's chairman and CEO, in a news release, "but the rise of COVID-19 has obviously placed a new sense of urgency on what we are doing. We hope to be generating animal data on WP1122's antiviral potential in the near term."

Pulmotech Inc.

Pulmotect, a clinical-stage biotechnology company based in Houston, is testing a drug that could be useful in mitigating the threats of the coronavirus, which is currently been recognized as a global health emergency. Getty Images

Experiments conducted by clinical-stage, Houston-based biotechnology company Pulmotect Inc. show its PUL-042 inhaled drug has proven effective in protecting mice against two types of coronavirus: severe acute respiratory syndrome (SARS) and Middle East respiratory syndrome (MERS). Researchers performed those tests at the University of Texas Medical Branch at Galveston.

In the Galveston experiments, a single inhaled dose of PUL-042 protected lab mice from the SARS virus, and it greatly reduced the amount of virus in their lungs after the mice became infected with SARS or MERS.

"With the risks of virulent coronaviruses and other threats increasing, as shown by the recent outbreak in Wuhan that has already spread from China to other countries including the United States, Pulmotect is optimistic that its immune-stimulating technology could be useful in mitigating the threats of current and emerging pathogens and protecting vulnerable populations," says CEO Dr. Colin Broom in a news release. Click here to read more.

Houston, home to the largest medical center in the world, had a lot of trending health tech stories this year. Photo by Dwight C. Andrews/Greater Houston Convention and Visitors Bureau

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Houston VC funding surged in Q1 2025 to highest level in years, report says

by the numbers

First-quarter funding for Houston-area startups just hit its highest level since 2022, according to the latest PitchBook-NVCA Venture Monitor. But fundraising in subsequent quarters might not be as robust thanks to ongoing economic turmoil, the report warns.

In the first quarter of 2025, Houston-area startups raised $544.2 million in venture capital from investors, PitchBook-NVCA data shows. That compares with $263.5 million in Q1 2024 and $344.5 million in Q1 2023. For the first quarter of 2022, local startups nabbed $745.5 million in venture capital.

The Houston-area total for first-quarter VC funding this year fell well short of the sum for the Austin area (more than $3.3 billion) and Dallas-Fort Worth ($696.8 million), according to PitchBook-NVCA data.

While first-quarter 2025 funding for Houston-area startups got a boost, the number of VC deals declined versus the first quarters of 2024, 2023 and 2022. The PitchBook-NVCA Monitor reported 37 local VC deals in this year’s first quarter, compared with 45 during the same period in 2024, 53 in 2023, and 57 in 2022.

The PitchBook-NVCA report indicates fundraising figures for the Houston area, the Austin area, Dallas-Fort Worth and other markets might shrink in upcoming quarters.

“Should the latest iteration of tariffs stand, we expect significant pressure on fundraising and dealmaking in the near term as investors sit on the sidelines and wait for signs of market stabilization,” the report says.

Due to new trade tariffs and policy shifts, the chances of an upcoming rebound in the VC market have likely faded, says Nizar Tarhuni, executive vice president of research and market intelligence at PitchBook.

“These impacts amplify economic uncertainty and could further disrupt the private markets by complicating investment decisions, supply chains, exit windows, and portfolio strategies,” Tarhuni says. “While this may eventually lead to new domestic investment and create opportunities, the overall environment is facing volatility, hesitation, and structural change.”

Expert: Texas is building a cybersecurity wall — but it needs more bricklayers

Guest Column

Texas has always been a state that thinks in terms of scale. Big energy, big ambitions and now, big action in cybersecurity.

With the creation of the Texas Cyber Command under the Department of Information Resources, the state is recognizing what many of us in the industry have long understood: cybersecurity is not just an IT issue, it's a matter of public safety and economic resilience. Protecting municipal systems, schools, and critical energy infrastructure from cyber threats is no longer optional. It is essential.

For these efforts to succeed, Texas must invest as much in people as it does in technology. Without a capable, well-trained workforce to carry out the mission, even the strongest cyber strategies will struggle to hold the line.

The scope of the threat

Cyberattacks are not theoretical. In the last year alone, several cities in Texas experienced major ransomware attacks. One incident in Fort Worth took down core city systems, affecting everything from email access to permitting operations. The ripple effects were significant.

The energy sector is also under constant pressure. As a cornerstone of both the Texas and national economy, the it is a high-value target. Hackers are probing systems that manage oil, gas, and renewable energy infrastructure, looking for weaknesses that could be exploited to steal data or disrupt operations.

Texas has responded by centralizing its cyber incident response capabilities. The Texas Cyber Command is a smart step forward. It brings coordination and focus to an increasingly complex landscape. But its effectiveness will depend entirely on the professionals tasked with doing the work. And that’s where the challenge lies.

The workforce gap

Across the U.S., there are an estimated 400,000 unfilled cybersecurity positions. In Texas, more than 40,000 roles remain vacant, according to CyberSeek. These are not just numbers in a report. They represent a growing vulnerability with gaps in frontline defenses against real and persistent threats.

We cannot afford to rely solely on traditional pathways to fill this gap. Four-year degree programs are important, but they are not designed to scale fast enough or flexibly enough to meet today’s needs. Instead, we need to broaden our view of what a cybersecurity talent pipeline looks like and who it includes.

There needs to be an expanded focus on practical, skills-based training that takes high-aptitude individuals, including those from non-traditional backgrounds, and prepares them for success in cybersecurity careers through rigorous hands-on training that reflects the demands of real-world cyber roles. With the right structure and support, people from all walks of life are already proving they can become capable defenders of our digital infrastructure.

The same entrepreneurial spirit that drives innovation in other sectors can be applied to cybersecurity workforce development. We don’t have to wait years to grow the next generation of defenders. We can do it now, with the right focus and investment.

Texas has taken a critical first step by creating the Cyber Command, but if we want to build lasting resilience, we need to address the workforce bottleneck head-on. Cybersecurity needs more than tech…it needs talent.

---

Dean Gefen is theCEO, NukuDo, a San Antonio-based cybersecurity workforce development and staffing company.

Rice Business Plan Competition doles out $2M to 2025 student teams

big winners

Celebrating its 25th year, the Rice Alliance for Technology and Entrepreneurship hosted the celebrated Rice Business Plan Competition this month, doling out more than $2 million in investment and cash prizes to the top-performing teams.

“For 25 years, the Rice Business Plan Competition has helped shape how Rice Business shows up in the world by creating a platform where student-entrepreneurs can tackle some of the most complex challenges of our time in energy, in health care, in technology and beyond,” Peter Rodriguez, dean of Rice Business, the presenting sponsor of the event, said in a news release. “If we’re serious about changing the world — and I believe we are — then it’s our responsibility to open doors for students everywhere to imagine bold solutions and build what comes next.”

Over the course of the three-day event, the 42 startups competing this year from colleges or universities around the world presented their plans before more than 300 angel, venture capital, and corporate investors. The teams were selected from the event’s largest applicant pool to date and represented 34 universities across four countries, according to Rice. Winners were announced at the company showcase and awards ceremony April 12 in downtown Houston.

Seven finalists were selected, though each team left the competition with some form of funding, according to Rice. The University of Michigan's Intero Biosystems was the star of the show, bringing home both the top-place finish and the largest total investment. Rice's own Pattern Materials also had a strong showing, placing fourth in the pitch competition and also earning the fourth-highest investment total.

Here are the teams that won big in 2025. See a full list of winners and prizes here.

Intero Biosystems, University of Michigan - $902,000

The team finished in first place for its GastroScreen, the first stem cell-driven human “mini gut” that is ideal for organ function testing before testing on humans, and also claimed the largest total investments among the competition.

$150,000 Goose Capital Investment Grand Prize
$250,000 Goose Capital Investment Prize
$200,000 The OWL Investment Prize
$100,000 Houston Angel Network Investment Prize
$100,000 nCourage Investment Network’s Courageous Women Entrepreneur Investment Prize
$100,000 Investment Prize from Nancy Chang
$1,000 Mercury Elevator Pitch Competition - Overall Winner
$1,000 Anbarci Family Company Showcase Prize
TMC Innovation Healthcare Accelerator Bootcamp Invitation Prize

MabLab, Harvard University – $301,500

The team placed second for its rapid test capable of detecting multiple adulterants in laced drugs and spiked drinks.

$100,000 Investment Prize, sponsored by David Anderson, Anderson Family Fund, Jon Finger and Finger Interests
$100,000 The Indus Entrepreneurs (TiE) Texas Angels Investment Prize
$25,000 nCourage Investment Network’s Courageous Women Entrepreneur Investment Prize
$50,000 Valhalla Investment Network Investment Prize
$25,000 The Eagles Investor Investment Prize
$500 Mercury Elevator Pitch Competition - Life Science*
$1,000 Anbarci Family Company Showcase Prize

re.solution, RWTH Aachen University — $76,500

The team placed third for its water-based technology that recycles polyesters without generating salt waste, making textile recycling viable.

$50,000 Investment Prize, sponsored by David Anderson, Anderson Family Fund, Jon Finger and Finger Interests
$25,000 Pearland EDC Spirit of Entrepreneurship Cash Prize
$500 Mercury Elevator Pitch Competition - Energy/Cleantech
$1,000 Anbarci Family Company Showcase Prize

Pattern Materials, Rice University – $134,500

The Houston-based team placed fourth for its laser-induced graphene technology that can be rapidly performed, enabling low-cost, scalable production of the material.

$5,000 prize, sponsored by Norton Rose Fulbright
$50,000 Valhalla Investment Network Investment Prize
$25,000 Pearland EDC Spirit of Entrepreneurship Cash Prize
$25,000 New Climate Ventures Sustainable Investment Prize
$25,000 Amentum and WRX Companies Rising Stars Space Technology and Commercial Aerospace Cash Prize
$500 Mercury Elevator Pitch Competition - Hard Tech
$1,000 Anbarci Family Company Showcase Prize
$3,000 Venture Builder Innovation Prizes

Xatoms, Western University and University of Toronto — $30,000

The team placed fifth for its AI- and quantum-driven platform for discovering solar-activated semiconductor materials.

$5,000 prize, sponsored by EY
$25,000 nCourage Investment Network’s Courageous Women Entrepreneur Investment Prize

Mito Robotics, Carnegie Mellon University— $5,000

The team placed sixth for its automated manual cell culture with AI-powered robotic scientists for life science research

$5,000 prize, sponsored by Chevron Technology Ventures

FarmSmart.ai, LSU – $106,000

The team placed seventh for its AI—driven assistant that synthesizes vast agricultural research into actionable, tailored intelligence, but earned the fifth-most investments among the group.

$5,000 prize, sponsored by Shell Ventures
$100,000 The OWL Investment Prize
$1,000 Anbarci Family Company Showcase Prize
Edward H. Molter Memorial Prizes for Wildcard Round - 1st place - Advance to Finals

Other significant awards

GreenLIB Materials, University of Ottawa – $152,000

$150,000 Goose Capital Investment Prize
$2,000 Venture Builder Innovation Prizes

Microvitality, Tufts University – $26,500

$25,000 Southwest National Pediatric Device Consortium Pediatric Device Cash Prize
$1,500 Edward H. Molter Memorial Prizes for Wildcard Round - 3rd place overall in WC

Nanoborne, University of Texas at Austin - $25,000

$25,000 NOV Golden Ticket to Supernova Accelerator and Cash Prize

Last year, the Rice Business Plan Competition facilitated over $1.5 million in investment and cash prizes. MesaQuantum from Harvard University landed the highest total investment last year, although it was not named a finalist. Protein Pints from Michigan State University won the pitch competition.

According to Rice, 910 startups have raised more than $6.9 billion in capital through the competition over the last 25 years.

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