Houston SPAC announces merger with Beaumont-based tech company in deal valued at $100M

speaking of spacs

This Houston-based SPAC has announced the tech company it plans to merge with. Photo courtesy of Gow Media

A Houston SPAC, or special purpose acquisition company, has announced the company it plans to merge with in the new year.

Beaumont-based Infrared Cameras Holdings Inc., a provider of thermal imaging platforms, and Houston-based SportsMap Tech Acquisition Corp. (NASDAQ: SMAP), a publicly-traded SPAC with $117 million held in trust, announced their agreement for ICI to IPO via SPAC.

Originally announced in the fall of last year, the blank-check company is led by David Gow, CEO and chairman. Gow is also chairman and CEO of Gow Media, which owns digital media outlets SportsMap, CultureMap, and InnovationMap, as well as the SportsMap Radio Network, ESPN 97.5 and 92.5.

The deal will close in the first half of 2023, according to a news release, and the combined company will be renamed Infrared Cameras Holdings Inc. and will be listed on NASDAQ under a new ticker symbol.

“ICI is extremely excited to partner with David Gow and SportsMap as we continue to deliver our innovative software and hardware solutions," says Gary Strahan, founder and CEO of ICI, in the release. "We believe our software and sensor technology can change the way companies across industries perform predictive maintenance to ensure reliability, environmental integrity, and safety through AI and machine learning.”

Strahan will continue to serve as CEO of the combined company, and Gow will become chairman of the board. The transaction values the combined company at a pre-money equity valuation of $100 million, according to the release, and existing ICI shareholders will roll 100 percent of their equity into the combined company as part of the transaction.

“We believe ICI is poised for strong growth," Gow says in the release. "The company has a strong value proposition, detecting the overheating of equipment in industrial settings. ICI also has assembled a strong management team to execute on the opportunity. We are delighted to combine our SPAC with ICI.”

Founded in 1995, ICI provides infrared and imaging technology — as well as service, training, and equipment repairs — to various businesses and individuals across industries.

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10+ can't-miss Houston business and innovation events for December

WHERE TO BE

From networking meetups to pitch competitions, December is filled with opportunities for Houston innovators. Here's a roundup of events you won't want to miss out on so mark your calendars and register accordingly.

Note: This post might be updated to add more events.


December 3 — Cup of Joey: InnovationMap Awards Finalist Celebration

Meet the finalists of the Innovation Awards and network with like-minded, curious individuals over strong coffee.

This event is Tuesday, December 3, from 8:30 to 10:30 a.m. at 820 Gessner Rd. Click here to register.

December 3 — Antwerp-Houston Innovation Mission: Cleantech Pitching Event

Pitch your cleantech solution to members of both the Antwerp and Houston ecosystem. This cleantech pitch competition will feature networking with industry leaders, investors, and like-minded individuals passionate about sustainability. Witness groundbreaking ideas, support the future of cleantech, and take advantage of a unique opportunity to pitch to the Port Of Antwerp-Bruges, Bluechem, StartUp Flanders and more.

This event is Tuesday, December 3, from 2 to 5 p.m. at the Ion. Click here to register.

December 4-5 — Energy LIVE 2024

A full-spectrum energy exhibition, with 3000+ decision-maker attendees and 100 booths - the first meeting point for North America's clean energy ecosystem post-U.S. election, where attendees will seize emerging opportunities for sustainable profit. The Energy LIVE Expo will connect the three concurrent strategic conferences to laser focus on facilitating the next generation of net-zero partnerships.

This event begins Wednesday, December 4, at NRG Park. Click here to register.

December 5 — Holiday Block Party at the Ion

Join the Rice Alliance team for a holiday block party at the Ion featuring familiar faces and a healthy dose of Houston’s entrepreneurial energy. This is a celebration where you can catch up with old friends, meet new ones and soak in the holiday spirit. In the spirit of giving, Operation Love is hosting a toy drive at the event. Bring a toy to donate, and wrap it up at the gift-wrapping station.

This event is Thursday, December 5, from 4 to 7 pm at the Ion. Click here to register.

December 5 — SouthWest-Midwest National Pediatric Device Innovation Consortium

This annual event brings together members, colleagues, and guests of our FDA-supported consortium, dedicated to assisting pediatric device innovators throughout the entire lifecycle in delivering innovative solutions to pediatric patients. Angela Lorts, MD, MBA, of ACTION Network and Cincinnati Children’s Hospital will deliver a keynote address followed by a panel discussion on clinical trials/ evidence generation for pediatric devices and real-world evidence case studies.

This event is Thursday, December 5, from 4 to 7:30 pm at Texas A&M EnMed Tower. Click here to register.

December 6 — Inaugural Houston Methodist Neal Cancer Center GI Oncology Symposium

In this session, attendees will explore the latest advancements in surgical techniques for early-stage hepatobiliary cancer. The presentations will cover innovative operative approaches that enhance surgical outcomes and improve patient recovery. Expert surgeons will discuss their experiences with new technologies and methods, including minimally invasive procedures and enhanced imaging techniques.

This event is Friday, December 6, from 8:30 a.m. to 3:15 p.m at Houston Methodist Research Institute. Click here to register.

December 9 — Pumps & Pipes Annual Event 2024

The Pumps & Pipes Annual Event is an innovation gathering bringing together cross-industry leaders in Aerospace, Energy, and Medicine for engaging discussions and top tier networking opportunities. There will be three hour-long sessions ranging from space to medical technologies. The "Skybound Synergies: State of Texas Aerospace Investments & Their Ripple Effect" panel will spotlight Texas’ critical role in shaping the future of aerospace, with a focus on its cross-sector impact, from space exploration to innovation in energy & healthcare. Speakers include: Norman Garza, Jr., Executive Director of the Texas Space Commission (TSC); as well as two members of the TSC board of directors: Sarah “Sassie” Duggelby, CEO/Co-Founder of Venus Aerospace; & Kathryn Lueders, GM at Starbase, SpaceX.

In the "Innovating the Impossible: Real-World Applications of Robotics & Synthetic Bio" speakers will explore the groundbreaking intersection of synthetic biology and robotics as they reshape industries from aerospace to energy to healthcare. In "The Total Artificial Heart: Past, Present, & Future; a Uniquely Houston Story" Dr. Billy Cohn, will discuss the groundbreaking BiVACOR TAH, a device that fully replaces the function of the heart using a magnetically levitated rotary pump. This innovative approach is part of an FDA-approved first-in-human study, aiming to evaluate its use as a bridge-to-transplant for patients awaiting heart transplants.

This event is Monday, December 9, from 8 a.m. to 3 p.m. at Texas Medical Center Helix Park. Click here to register.

December 9 — The $2 Million to $22 Million ARR Playbook

Join Next Stage Trajectory at The Cannon West Houston and learn from leaders who have navigated the path from promising startup to established industry player. This panel brings together three accomplished founders who have successfully scaled their companies from $2 million to over $20 million in annual recurring revenue within a short time period. Expert speakers will share insights, strategies, and hard-won lessons from their journeys.

This event is Monday, December 9, from 3:30 to 5 p.m. at the Cannon. Click here to register.

December 11 — Jingle Mingle and the Houston Tech & Energytech Extravaganza

Celebrate the season with Houston’s tech, energy transition, and life science startup communities. Enjoy music, holiday lights, an ugly sweater competition, and maybe even a visit from Startup Santa. Network with fellow builders in the Houston energy transition and foster meaningful connections and collaborations.

This event is Wednesday, December 11, from 5 to 9 pm at 401 Franklin St. Click here to register.

December 12 — Houston Region Economic Outlook

The Greater Houston Partnership’s Chief Economist Patrick Jankowski will present the organization’s Houston economic forecast for 2025, discussing the regional employment outlook for the year ahead and the overall regional and national economic outlook. This year’s event is particularly significant as it marks Jankowski’s final forecast presentation before his well-earned retirement after a 41-year career with the Partnership.

The Partnership’s Houston Region Economic Outlook event will also feature a panel discussion with experts discussing their insights on their respective industries, including commercial real estate and energy, moderated by Dan Bellow, President of JLL. Panelists include Stan Chapman, Executive Vice President & COO, Natural Gas Pipelines, TC Energy; Mary Beth Gracy, Houston Office Managing Director, Accenture.

This event is Thursday, December 12, from 11 a.m. to 1:30 p.m. at the Royal Sonesta. Click here to register.

December 13 — 2024 Women In Agriculture Conference

Urban Harvest will host its third annual Women in Agriculture Conference, bringing together urban gardeners, farmers, entrepreneurs, and plant enthusiasts from across Texas to celebrate, educate, and uplift the work of women shaping the agricultural landscape. The conference features expert panels, networking opportunities, food, and prizes, and will offer a platform to share resources and knowledge for sustainable agriculture practices.

This event is Friday, December 13, from 8:30 a.m. to 3:30 p.m. at Houston Community College - West Houston Institute Campus. Click here to register.

5 top trending innovation stories in Houston this week

what you're reading

Editor's note:Let's roundup the most-read Houston innovation news from the week. Trending Houston tech and startup articles from InnovationMap and its daily newsletter included Houston ranking highly as a top city, Plug and Play re-entering the Houston market, and more.

West Coast innovation organization unveils new location in Houston suburb to boost Texas tech ecosystem

Plug and Play is opening a Sugar Land hub to accelerate startups and innovation across smart cities, energy, health, and mobility sectors. Photo courtesy of Plug and Play

Leading innovation platform Plug and Play announced the opening of its new flagship Houston-area location in Sugar Land, which is its fourth location in Texas.

Plug and Play has accelerated over 2,700 startups globally last year with corporate partners that include Dell Technologies, Daikin, Microsoft, LG Chem, Shell, and Mercedes. The company’s portfolio includes PayPal, Dropbox, LendingClub, and Course Hero, with 8 percent of the portfolio valued at over $100 million. Continue reading.

German biotech co. to relocate to Houston thanks to $4.75M CPRIT grant

Several Houston institutions scored funding from the Cancer Prevention and Research Institute of Texas. Photo via Getty Images

Armed with a $4.75 million grant from the Cancer Prevention and Research Institute of Texas, a German biotech company will relocate to Houston to work on developing a cancer medicine that fights solid tumors.

Eisbach Bio is conducting a clinical trial of its EIS-12656 therapy at Houston’s MD Anderson Cancer Center. In September, the company announced its first patient had undergone EIS-12656 treatment. EIS-12656 works by suppressing cancer-related genome reorganization generated by DNA. Continue reading.

Houston leaps back into top 50 'World's Best Cities' list for 2025

Houston made a big leap back into the top 50, ranking No. 40, after previously plummeting into No. 72 last year. Photo by Natalie Harms/InnovationMap

Lively Houston has regained its rightful place among the top 50 best cities in the world, according to a prestigious new report by Resonance Consultancy.

The Canada-based real estate and tourism marketing advisors ranked Houston the 40th best city worldwide for 2025 in its annual "World's Best Cities" list. Continue reading.

New CEO brings strategic vision to Houston co. advancing neurodegenerative disease treatments

Coya Therapeutics appoints a new CEO to lead its innovative Alzheimer's treatment development efforts. Photo via LinkedIn

Coya Therapeutics has named a new CEO. As of Nov. 1, Arun Swaminathan replaced Co-founder Howard Berman in the role. Berman has assumed the title of executive chairman, in which he will still remain active with the company.

Swaminathan started with Coya two years ago as chief business officer. This transition was planned, says the PhD-holding scientist and businessman.

“(Berman's) intent was that it was the right time to put in place a CEO that, as we move into the operational phases of the company, that can take the reins from him,” he tells InnovationMap. Continue reading.

Uniquely Houston event to convene innovation experts across aerospace, energy, and medicine

For the eighteenth year in a row, the annual Pumps & Pipes event will showcase and explore convergence innovation and common technology themes across Houston’s three major industries. Image courtesy of Pumps & Pipes

Every year, Houston's legacy industries — energy, medicine, and aerospace — come together to share innovative ideas and collaborate on future opportunities.

For the eighteenth year in a row, the annual Pumps & Pipes event will showcase and explore convergence innovation and common technology themes across Houston’s three major industries. The hosting organization, also called Pumps & Pipes, was established in 2007 in Houston and is dedicated to fostering collaboration amongst the city's three major industries.

With NASA in its backyard, the world’s largest medical center, and a reputation as the “Energy Capital of the World,” Houston is uniquely positioned to lead in cross-industry convergence innovation and is reflected in the theme of this year’s event – Blueprint Houston: Converge and Innovate. Continue reading.

Houston health startup launches tool to revolutionize kidney care, reduce costs

here to help

Chronic Kidney Disease is expensive and common. In fact, 37 million Americans live with the condition. The winner of this year’s Houston Innovation Award for best female-founded business, Koda Health, recognized the need for help among CKD sufferers and has answered the call.

Last week, Koda Health announced the addition of Kidney Action Planning to its suite of services for patients with serious illnesses.

"Kidney Action Planning is designed to fill a significant void in CKD management," Tatiana Fofanova, CEO of Koda Health, says in a statement. "Some studies indicate greater than 70 percent of patients start dialysis in the ER suboptimally, potentially navigating a life-or-death scenario. This is both frightening and largely avoidable with an intervention like Kidney Action Planning, which helps patients better understand CKD.”

Nearly one in four Medicare dollars is spent on kidney care. That’s roughly $130 billion each year. How does KAP help?

The solution uses technology to support CKD patients from the moment of diagnosis. By using KAP, patients are educated about their condition, which empowers them to make their own decisions about treatment as the disease progresses.

Using targeted patient outreach, KAP aids healthcare workers in identifying patients who require assistance with care planning. It then matches them with the best fit for solutions. The company’s interactive, gamified digital tools teach and guide users through making care plans using their own personal values. But KAP doesn’t exist entirely on a device. For higher risk cases, patients can connect with KodaCares Patient Advocates, who provide the 1:1 assistance that only a human can.

A major goal of KAP is to minimize unplanned and inappropriate treatments, dramatically minimizing the cost to patients.

“With an unplanned dialysis start estimated to cost about $95,000 per patient compared to $25,000 per planned start – our new tool enables healthcare organizations to allocate the resources necessary to deliver proactive decision-making and disease education. We believe Kidney Action Planning has the potential to transform chronic kidney care for patients and the organizations that serve them," says Fofanova.

Koda Health launched its original software platform, Advance Care Planning, in 2021. It’s now used by 700,000 patients around the country to help make their medical wishes a reality, with the help of industry leaders such as Cigna, Privia and Houston Methodist. For patients with CKD and end-stage kidney disease, the new technology could make a substantial difference in the quality and cost of their care.

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