6 Houston health tech startups making major advancements right now

meet the finalists

Tatiana Fofanova and Dr. Desh Mohan, founders of Koda Health. Photo courtesy Koda Health.

Home to leading hospitals, universities and health-focused incubators, Houston is a breeding ground for innovative medical technology and breakthroughs that can improve outcomes and lead to a better quality of life for patients.

The Health Tech Business category in our 2025 Houston Innovation Awards will honor an innovative startup within the health and medical technology sectors.

Six forward-thinking businesses have been named finalists for the 2025 award. They range from an end-of-life care company to others developing devices and systems for heart monitoring, sleep apnea, hearing loss and more.

Read more about these businesses, their innovative founders, and how they're shaping the future of health care below. Then join us at the Houston Innovation Awards on Nov. 13 at Greentown Labs, when the winner will be unveiled at our live awards ceremony.

Tickets are now on sale for this exclusive event celebrating all things Houston Innovation.

Bairitone Health

Bairitone Health is bringing anatomy imaging for sleep apnea to the home environment. The company's platform maps users' anatomy during natural sleep using a facial patch to determine the root cause of airway obstruction. It then offers effective therapies for each patient. The system is currently in the research and development phase and is being used in clinical trials and studies.

The company was founded in 2022 in the Texas Medical Center's Biodesign program by CEO Meagan Pitcher, CTO Onur Kilic and chief medical officer Britt Cross. It was a member of Activate Houston's inaugural cohort and has participated in numerous accelerators and incubators. It raised a pre-seed round last year of $435,000.

Corveus Medical

Corveus Medical has developed a novel catheter device that allows cardiologists to perform a splanchnic nerve ablation, restoring the pressure balance in patients with moderate heart failure. Its pre-FDA-approved, minimally invasive solution deactivates a nerve that has been demonstrated to be a root cause behind heart failure progression, which allows physicians to treat patients who have traditionally had few options.

The company, formerly known as Caridian Medical, was founded in 2021 by CEO Tyler Melton and CMO Ishan Kamat. It has participated in incubators such as TMC Biodesign, Y Combinator, MedTech Innovator and Fogarty Innovation and was named one of the 10 most promising life science companies at Texas Life Science Forum in 2022. The company says it will move toward validation and verification testing for its device in Q4 of this year.

FibroBiologics

Regenerative medicine company FibroBioligics uses fibroblasts, the body’s most common type of cell, rather than stem cells, to help grow new cells to repair tissue and modulate the immune system. The cell therapies offer treatments for chronic conditions such as degenerative disc disease, multiple sclerosis and non-healing wounds.

The publicly traded company was founded in 2021 by CEO Pete O'Heeron. It opened a new 10,000-square-foot Houston lab earlier this year to scale up research efforts and pave the way for in-house manufacturing. The company says it plans to launch its first clinical trial for diabetic foot ulcers soon, representing the transition of its fibroblast technology to the clinic setting.

Koda Health

Koda Health has developed an advance care planning platform (ACP) that allows users to document and share their care preferences, goals and advance directives for health systems. The web-based platform guides patients through values-based decisions with interactive tools and generates state-specific, legally compliant documents that integrate seamlessly with electronic health record systems. The company also added kidney action planning to its suite of services for patients with serious illnesses last year.

Koda Health was founded out of the TMC's Biodesign Fellowship in 2020 by CEO Tatiana Fofanova, chief medical officer Dr. Desh Mohan, and chief technology officer Katelin Cherry. The company raised a $7 million series A earlier this year, and also announced major partnerships and integrations with Epic, Guidehealth, Medical Home Network, Privia Health and others.

NanoEar

NanoEar has miniaturized hearing aid technology so that it can be implanted across the eardrum, allowing adults with age-related hearing loss to enjoy better sound quality than they would with behind-the-ear hearing aids.

Dr. Ron Moses, an ENT specialist and surgeon at Houston Methodist, developed the technology, and the company was founded in 2016 with CFO Willem Vermaat and COO Michael Moore. The company participated in the TMC Innovation Institute in 2016. It has issued nine U.S. patents and performed successful human cadaver and animal proof-of-concept experiments. Its next step is developing a prototype.

Wellysis USA

Wellysis USA Inc. works to detect heart rhythm disorders with its continuous ECG/EKG monitor with AI reporting. Its S-Patch cardiac monitor is designed for extended testing periods of up to 14 days on a single battery charge. The device weighs only 9 grams, is waterproof and designed to be comfortable to wear, and is considered to have a high detection rate for arrhythmias. It is ideally suited for patient-centric clinical trials to help physicians make diagnoses faster, cheaper and more conveniently.

It was established in Houston in 2023 and participated in the JLABS SFF Program the same year. It closed a $12 million series B last year. It was founded by CEO Young Juhn, CTO Rick Kim, CFO JungSoo Kim and chief strategy officer JoongWoo Kim.

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Innovation Labs @ TMC will open next year at the TMC Innovation Factory. Photo courtesy JLABS.

Innovation Labs @ TMC set to launch for early-stage life science startups

moving in

The Texas Medical Center will launch its new Innovation Labs @ TMC in January 2026 to better support life science startups working within the innovation hub.

The 34,000-square-foot space, located in the TMC Innovation Factory at 2450 Holcombe Blvd., will feature labs and life science offices and will be managed by TMC. The space was previously occupied by Johnson & Johnson's JLABS @TMC, a representative from TMC tells InnovationMap. JLABS will officially vacate the space in January.

TMC shares that the expansion will allow it to "open its doors to a wider range of life science visionaries," including those in the TMC BioBridge program and Innovation Factory residents. It will also allow TMC to better integrate with the Innovation Factory's offerings, such as the TMC Health Tech accelerator, TMC Center for Device Innovation and TMC Venture Fund.

“We have witnessed an incredible demand for life science space, not only at the TMC Innovation Factory, but also on the TMC Helix Park research campus,” William McKeon, president and CEO of the TMC, said in a news release. “Innovation Labs @ TMC enables us to meet this rising demand and continue reshaping how early-stage life science companies grow, connect, and thrive.”

“By bringing together top talent, cutting-edge research, and industry access in one central hub, we can continue to advance Houston’s life science ecosystem," he continued.

The TMC Innovation Factory has hosted 450 early-stage ventures since it launched in 2015. JLABS first opened in the space in 2016 with the goal of helping health care startups commercialize.

Here's your one-stop shop for innovation events in Houston this month. Photo via Getty Images

10+ can't-miss Houston business and innovation events in September

Where to be

This month, Houstonians have yet another good batch of in-person and online innovation events, including the inaugural InnovationMap Awards, and you and your tech network need to know about them.

Here's a roundup of virtual events not to miss this month — like demo days, workshops, conventions, and more.

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

September 8 — The InnovationMap Awards presented by Techwave

Celebrate Houston innovation's movers and shakers at this inaugural event. Find out who of the 28 finalists — listed here — will take home a win and vote IN REAL TIME on this year's people's choice winner.

The event is on Wednesday, September 8, at 5:30 pm. It's free and happening online. Click here to register.

September 9 — Illuminate Houston: An Innovation Conversation

Illuminate Houston, presented by the Greater Houston Partnership, is an event series highlighting business leaders who challenge the way we think about the future. Illuminate Houston features dynamic formats where speakers and attendees discuss trends, technologies and issues that define how we do business. Following the keynote presentation by Caleb Deerinwater, Vice President – Fiber Sales & Distribution at AT&T, the audience will participate in an interactive fishbowl discussion. A fishbowl is a format fosters group participation in conversation and lets the content emerge from the group's comments and questions.

The event is on Thursday, September 9, at noon. It's free to members ($25 for non-members) and happening online. Click here to register.

September 11 — BioVentures Pitch Day

BioVentures is Enventure's 10-week accelerator program that supports budding entrepreneurs as they turn their ideas into a life science startup. This year, the group has four startups who will pitch their technology. Each team will be giving a 10-minute pitch followed by 20 minutes of Q&A. This event will be virtual through Zoom.

The event is on Saturday, September 11, at 1 pm. It's free and happening online. Click here to register.

September 15 — Building Better Teams by Fostering Equity in the Workplace

As an early-stage entrepreneur, you want to attract the most exceptional talent who will help your company grow. Developing and implementing an effective DEI strategy can be essential to your efforts to secure the very best people to help maintain your competitive advantage. Join this panel from JLABS featuring Fiona Mack, regional head of JLABS @ TMC.

The event is on Wednesday, September 15, at noon. It's free and happening online. Click here to register.

September 16 — The State of Space

The Greater Houston Partnership is hosting its second annual State of Space event with featured speaker Vanessa Wyche, director of NASA's Johnson Space Center, and panelists Steve Altemus, President and CEO, Intuitive Machines LLC and Tim Kopra, Vice President of Robotics and Space, MDA Ltd.

The event is on Thursday, September 16, at 10:30 am at Marriott Marquis (1777 Walker St.). It's $75 for members and $150 for non-members. Click here to register.

September 16 — Rice Alliance Clean Energy Accelerator Demo Day

The Rice Alliance Clean Energy Accelerator is hosting its inaugural demo day celebrating its inaugural class. Register to hear from 12 startups and participate in audience Q&A. Prior to pitches, stroll through our virtual showcase to learn more about the startups and network or chat with your fellow attendees.

The event is on Thursday, September 16, at 1 pm. It's free and happening online. Click here to register.

September 16 — Rice Data Science Career Mixer

The Rice Data Science Career Mixer is an excellent opportunity for companies to network with the brightest students at Rice University and discuss potential career opportunities in computational and data science fields.

The event is on Thursday, September 16, at 5 pm. It's free and happening online. Click here to register.

September 18 — Houston Hackathon 2021

To celebrate the National Civic Day of Hacking, Impact Hub Houston invites all people who want to make a difference in our region to join them at the annual Houston Hackathon. This is a "civic" hackathon, focused on ideating, designing, and developing both policy-based and tech solutions to some of Houston's greatest challenges. Project stakeholders will be there from the city, local organizations, and Houston's impact community.

The event is on Saturday, September 18, at 11 am to 3 pm. It's free and happening online. Click here to register.

September 21 — Email Marketing: A How To

Join The Cannon's HubSpot for Startups partner for a fast-paced session covering the key elements of email marketing. In this workshop, we'll go over HubSpot's playbook for:

Creating a winning email marketing strategy
Generating traffic to your website and converting traffic into leads
Leveraging automation to nurture leads
Email marketing best practices and common mistakes to avoid

The event is on Tuesday, September 21, at 1 pm. It's free and happening online. Click here to register.

September 22 — Are You Ready to Fundraise?

Raising money for your new venture doesn't have to be a mystery. When it comes to fundraising, there are specific things to keep in mind. Catch The Cannon's next webinar with Founder's Compass.

Understand the timing of the process
Understand your target audience (investors) and the value proposition that will appeal to them
Understand the obligations, risks, and consequences (on both sides)

The event is on Wednesday, September 22, at 10 am. It's free and happening online. Click here to register.

September 29 — Equity in Green Jobs

The projected growth of the climatetech industry and its ability to train and employ people means that there is abundant potential to create wealth and jobs, especially for low-income communities and communities of color. Greentown Labs invites you to hear from experts who will share how we can build toward a resilient, low-carbon future while simultaneously and rapidly expanding opportunities for women and people of color to economically benefit from and help drive the climatetech revolution.

The conversation will cover:

The current state of Houston's quickly evolving energy landscape
Skills applicable to the energy transition
Examples of comprehensive climatetech workforce development programs
Incorporating equity into green jobs

The event is on Wednesday, September 29, at 4 pm. It's free and happening online. Click here to register.

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

where to be

It's the last monthly events roundup for 2020 — and this month, understandably, is a bit slow due to the holidays, but we have a roundup of the must-attend events for December.

From workshops and panels to summits and pitch parties, here are over 10 Houston innovation events you can attend virtually via online meetings. Note: This post will be updated to add more events.

December 1 — National Resilience Town Hall: Year in Review, Year Ahead

The Insurance Information Institute and ResilientH2O Partners, in partnership with the Resilience Accelerator, will hold the final session for 2020 in an ongoing series of thought-leadership among insurance, non-insurance, public sector, and technology senior executives. December's National Townhall will bring five unique perspectives together to discuss lessons-learned from 2020 and predictions for 2021's resilience and risk mitigation "agenda" across residential, commercial, industrial, government operations, infrastructure, facilities, and communities.

The event is on Tuesday, December 1, at 10 am. It's free and can be accessed online. Click here to register.

December 1 — Angel Investing 101

Learn about how to make effective angel investment decisions and find out more about the newly launched Chicago Booth Angels Network of Texas. The event's keynote speaker is Ashok Rao, serial entrepreneur and board member of Houston-based GOOSE Capital.

The event is on Tuesday, December 1, from 5 to 6 pm. It's free and can be accessed online. Click here to register.

December 1 — The Ion's Industry Day

The goal of the inaugural Industry Day is to introduce and connect minority and women owned businesses (MWBE) with The Ion's Transwestern team. The hour long event is designed to facilitate networking and connect interested businesses with Transwestern, who will run operations for The Ion and catalyze local economic growth. Following the event, interested businesses can set up a walk through of The Ion in mid-December to finalize their bid.

The event is on Tuesday, December 1, from 6 to 7 pm. It's free and can be accessed through Zoom. Click here to register.

December 2 — NASA and Your Small Business: Understanding the NASA Procurement Process

Join The Ion to learn about NASA's commitment to providing access for all categories of small businesses to participate in the procurement process.

The event is on Wednesday, December 2, at noon. It's free and can be accessed through Zoom. Click here to register.

December 3 — Capital Factory's Venture Summit

Capital Factory is calling all investors, accelerator leaders, limited partners, and more to its annual venture summit, which is taking place virtually this year.

The event is on Thursday, December 3, from 9:45 to 2 pm. It's free and can be accessed online. Click here to register.

December 3 — Evening of Pediatric Device Innovation

JLABS @ TMC and Southwest National Pediatric Device Innovation Consortium are teaming up for the sixth Annual Evening of Pediatric Device Innovation. The evening of innovation will host top experts from Houston and across the country will discuss their views on the latest in pediatric medical device innovation and updates on bringing a pediatric medical device to market.

The event is on Thursday, December 3, from 3:40 to 5 pm. It's free and can be accessed through Zoom. Click here to register.

December 3 — An Evening With Women in Corporate Innovation

Join General Assembly Houston to hear from inspiring female leaders in corporate innovation who have blazed the path to stand up and stand out. From learnings to failings and their secrets of success, this event is an opportunity to learn from the best — serious wisdom, from seriously cool women, all designed to supercharge you and your organization's success.

The event is on Thursday, December 3, from 5 to 6:30 pm. It's free and can be accessed online. Click here to register.

December 7 — Pumps and Pipes 20/20 Vision

The annual Pumps & Pipes event is focused on convergence innovation in the fields of aerospace, energy and medicine: a truly uniquely Houston approach. The day-long summit features an expo and various panels and speakers.

The event is on Monday, December 7, from 8 am to 3 pm. It's free and can be accessed online. Click here to register.

December 8 — The Cannon Q4 Pitch Party: Presented by Dell Technologies

Join The Cannon and Dell Technologies in hearing from new companies working in Digital Transformation Tech.

The event is on Tuesday, December 8, at 5:30 pm. It's free and can be accessed via Zoom. Click here to register.

December 8 — How to Start a Startup with Heath Butler of Mercury Fund

The Ion is hosting a startup 101 workshop with Heath Butler from Mercury Fund. You have an idea...now what? Before you start looking for funding, it's important to make sure that your idea is both viable and valuable — if it doesn't have a sound model and a market willing to pay for it, investors won't be interested anyway.

The event is on Tuesday, December 8, at 5:30 pm. It's free and can be accessed via Zoom. Click here to register.

December 10 — Greentown Lab's Energy Bar: Wrapping Up an Unprecedented Year

Join Greentown Labs virtually for the final edition of the EnergyBar networking event for 2020. Greentown Labs is ready to put a wrap on 2020, an unprecedent year for us all. Between the opening of the new community in Houston and a renewed national policy focus on climate action, the organization is looking ahead to 2021. Entrepreneurs, investors, students, and friends of climatetech are invited to attend, meet colleagues, and engage in a community that is focused on climate action at work.

The event is on Thursday, December 10, from 3:30 to 6:30 pm. It's free and can be access through Remo. Click here to register.

December 15 — The State of Space

The Greater Houston Partnership is hosting its first State of Space event featuring NASA Administrator Jim Bridenstine as the keynote speaker. Since his appointment as Administrator in April of 2018, Bridenstine has led NASA in advancing American aeronautic, science, and space exploration objectives.

The event is on Tuesday, December 15, at noon. It's $35 for GHP members and $60 for nonmembers. Click here to register.

Fiona Mack has joined JLABS @ TMC as head of the incubator. She shares her vision for the lab on this week's episode of the Houston Innovators Podcast. Photo courtesy of JLABS

New Houston life science incubator leader is focusing on inclusion in health innovation

houston innovators podcast episode 57

By now, Fiona Mack has worked in a few sectors and stages of health innovation — mostly within oncology and biopharmaceuticals. However, since being named the head of JLABS @ TMC a few months ago, she's jumped headfirst into Houston life science startup incubation.

"I've been kind of drinking from the fire hose. I've really tried to understand the J&J organization, which is quite global in its scope across multiple sector areas," Mack shares on this week's episode of the Houston Innovators Podcast. "On a regional level, I've been focusing on understanding my portfolio."

On her plate right now is assessing the needs of the incubator's 49 member companies in the portfolio. Additionally, she's working on recognizing any gaps in leadership — the position has been vacant around a year and a half since the former head, Tom Luby, transitioned to leading the TMC Innovation Institute — and understanding the needs of the Texas innovation ecosystem.

"As I learn more about the history of life science sector in Texas, over the past 20 years there has been an impetuous to build up this critical mass of companies here to really make it a strong hub that competes with the energy sector to make it a pillar of the economy here," Mack says.

One of the things that's top of mind for Mack is a focus on diversity — both from an entrepreneurship and a representation standpoint.

"From a research perspective, there's a strong effect of having a lack of diversity in a lot of the metrics we're looking at," she shares.

Mack says innovation is driven by data, and data, especially when your using that information to treat a diverse group of people, needs to be representative. And Houston is a great place to make that happen.

"What information are we putting into those datasets? If it only represents a homogenous population, it certainly can't be applied to the real world," Mack says. "There's a need to be much more inclusive into what we're analyzing. Houston, in terms of its population, is highly diverse — and we can speak about it ethnically and from an economic standpoint."

Mack shares more of her big picture vision for JLABS @ TMC on the episode, as well as what her early impressions of Houston have been so far. Listen to the full interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.

Here's what interactive, virtual events to log on to this month. Getty Images

Updated: 15+ can't-miss virtual business and innovation events in Houston for October

where to be online

Every year, October is jam packed with tons of business events across Houston. Even in light of the pandemic, the shows must go on — online, that is.

From fireside chats and ask-me-anything meetings to summit and startup competitions, here are over 10 Houston innovation events you can attend virtually via online meetings. Be sure to register in advance, as most will send an access link ahead of the events.

Note: This post has been edited and republished to reflect new events.

October 5 — Introduction to the Latinx Startup Alliance

The Ion is hosting this fireside chat to allow attendees to learn what resources San Francisco-based Latinx Startup Alliance will bring to Houston and the importance of promoting opportunities and access for all Houstonians launching a tech startup and funding resources.

The event will take place online on Monday, October 5, at 5:30 pm. Register here.

October 6 — HXTV| VC Ask Me Anything Virtual Event ft Companyon Ventures

Houston Exponential is hosting a virtual ask-me-anything event with Companyon Ventures, which funds B2B software startups into their expansion-stage by injecting decades of startup and VC experience through operational hands-on investing.

The event will take place online on Tuesday, October 6, at noon. Register here.

October 6, 13, 20, & 27 — ABC's of Accelerators Series

Join The Ion for a series of virtual events throughout the month that tackle the ins and outs of startup accelerator programs.

The events will take place online on every Tuesday of the month at noon. Register here.

October 8 & 15 — Houston Low-Carbon Energy Innovation Summit

The Center for Houston's Future has put together two full days of programming centered around low-carbon innovation. Registration options $50 one-day passes or $75 two-day passes.

The event will take place online on Thursday, October 8, from 9 am to 1:30 pm, and Thursday, October 15, from 9 am to 3 pm. Register here.

October 14 — HXTV| VC Ask Me Anything Virtual Event ft IronSpring Ventures

Houston Exponential is hosting a virtual ask-me-anything event with IronSpring Ventures, a network-driven venture capital fund investing in digital industrial innovation.

The event will take place online on Wednesday, October 14, at noon. Register here.

October 14 — Pandemic Rising: The Threat to Female Ambition & Our Nation's Recovery

Join Sesh Coworking for a virtual town hall to discuss the impacts of the global pandemic and economic downturn on female career trajectory, female unemployment rates, increased childcare burdens and how the pandemic has thrust female equality in the workspace backwards by decades.

The event will take place online on Wednesday, October 14, at 1 pm. Register here.

October 14 — Core Conversations: Transition with Purpose

Join a Core Conversation with Brandy Guidry to learn how she leveraged her outreach and advocacy work to start consulting with startups.

The event will take place online on Wednesday, October 14, at 4 pm. Register here.

October 16 — Design Thinking for Tech and Innovation Workshop | Prototypes+User Testing

At this Ion Online event, learn some of the ways to prototype and identify features that will make up your MVP and usability testing techniques.

The event will take place online on Friday, October 16, at 11:30 am. Register here.

October 19 — PR 101 for Startups and Small Businesses

Want to generate press for your startup but have no budget? Join General Assembly for this PR 101 session to learn how to leverage PR strategies to grow your business. This session is ideal for startup founders and marketers and general enthusiasts who would like to learn PR strategies and tips. Our panelists will cover effective story telling, media relations, and content development.

The event will take place online on Monday, October 19, at 5 pm. Register here.

October 19-29 — Space Com Expo

We are dedicated to accelerating the global business of space. SpaceCom 2020's online event will feature eight days of unprecedented innovation, superior thought-leadership, and forward-thinking strategies all for free.

The event will take place online at various times from Monday, October 19, to Thursday, October 29. Register here.

October 20 — Houston, We Have a Leader: Fireside Chat with Head of JLABS @ TMC

Fiona Mack, the new regional head for JLABS @ TMC has landed in Space City, and she's sitting down with the one-any-only Melinda Richter, Global Head of JLABS, for a fireside chat on all things Lone Star State, JLABS and her Texas-sized plans for the future of JLABS @ TMC.

The event will take place online on Tuesday, October 20, at 11 am. Register here.

October 21 — Diversity Investor Academy's panel on cleantech

The Diversity Investor Academy has announced a panel will be discussing the latest reports published, the trends in Cleantech, and how it could affect early-stage investment from different perspectives: startups, BA, and VC.

The event will take place online on Wednesday, October 21, at 2 pm. Register here.

October 22 — MassChallenge 2020 Virtual Awards

MassChallenge Texas's Houston Cohort will reveal its top companies of 2020 at MCTX's first virtual awards. Cohorts from Austin, Boston, and Rhode Island will also be represented, and headliners for the event include Arianna Huffington, founder and CEO of Thrive Global, and Linda Pizzuti Henry, managing director of the Boston Globe, and Chris Denson of Innovation Crush will be the host.

Click here to see the Houston finalists.

The event will take place online on Thursday, October 22, at 4 pm. Register here.

October 22 — How to Start a Startup: Heath Butler, Mercury Fund

Learn how to identify problems, needs, and trends worth pursuing and then how to create and evaluate possible solutions to these problems.

The event will take place online on Thursday, October 22, at 5:30 pm. Register here.

October 26-28 — 2020 Ken Kennedy Institute Data Science Conference

Now in its fourth year, the Ken Kennedy Institute Data Science Conference is a research, development, and innovation (RD&I) gathering, bringing together university and research labs (technology developers), key industry verticals (technology consumers), and IT industry (technology providers) that are looking at opportunities created by advances in AI, data analytics, machine learning and deep learning. It is structured to facilitate engagement and networking across all of these boundaries. The conference is specifically interested in highlighting use-cases that translate data to knowledge enabled by data and fueled by advances in data analytics, machine learning, deep learning, and AI.

The event will take place online on Monday, October 26, to Wednesday, October 28. Register here.

October 27-29 — ATCE Startup Village

In addition to the Energy Startup Competition, the event will include expert presentations and table discussions. Participants will have opportunities to ask questions and hear advice from investors, industry representatives and veteran entrepreneurs. ATCE Startup Village is a partnership between the Society of Professional Engineers and the Rice Alliance.

The event will take place online on Tuesday, October 27, to Thursday, October 29. Register here.

October 28 — Venture Development Series #3: No Coding Required

In the last of its Venture Development Lilie workshop series, the Liu Idea Lab for Innovation and Entrepreneurship will build upon the themes covered in previous events and show participants how to create low fidelity prototypes without spending a dollar or knowing how to write a single line of code.

The event will take place online on Wednesday, October 28, at 4 pm. Register here.

October 29 — Ignite Madness finals

Female-led health tech founders face off in a startup competition like none other. Catch the first round bracket on October 22 at 9:30 am, or just tune in to the finals to see who takes the win (and, more importantly, the investment prizes).

The event will take place online on Thursday, October 29, at 6 pm. Register here.

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Houston startup debuts new drone for first responders

taking flight

Houston-based Paladin Drones has debuted Knighthawk 2.0, its new autonomous, first-responder drone.

The drone aims to strengthen emergency response and protect first responders, the company said in a news release.

“We’re excited to launch Knighthawk 2.0 to help build safer cities and give any city across the world less than a 70-second response time for any emergency,” said Divyaditya Shrivastava, CEO of Paladin.

The Knighthawk 2.0 is built on Paladin’s Drone as a First Responder (DFR) technology. It is equipped with an advanced thermal camera with long-range 5G/LTE connectivity that provides first responders with live, critical aerial awareness before crews reach the ground. The new drone is National Defense Authorization Act-compliant and integrates with Paladin's existing products, Watchtower and Paladin EXT.

Knighthawk 2.0 can log more than 40 minutes of flight time and is faster than its previous model, reaching a reported cruising speed of more than 70 kilometers per hour. It also features more advanced sensors, precision GPS and obstacle avoidance technology, which allows it to operate in a variety of terrains and emergency conditions.

Paladin also announced a partnership with Portuguese drone manufacturer Beyond Vision to integrate its Drone as a First Responder (DFR) technology with Beyond Vision’s NATO-compliant, fully autonomous unmanned aerial systems. Paladin has begun to deploy the Knighthawk 2.0 internationally, including in India and Portugal.

The company raised a $5.2 million seed round in 2024 and another round for an undisclosed amount earlier this year. In 2019, Houston’s Memorial Villages Police Department piloted Paladin’s technology.

According to the company, Paladin wants autonomous drones responding to every 911 call in the U.S. by 2027.

Rice research explores how shopping data could reshape credit scores

houston voices

More than a billion people worldwide can’t access credit cards or loans because they lack a traditional credit score. Without a formal borrowing history, banks often view them as unreliable and risky. To reach these borrowers, lenders have begun experimenting with alternative signals of financial reliability, such as consistent utility or mobile phone payments.

New research from Rice Business builds on that approach. Previous work by assistant professor of marketing Jung Youn Lee showed that everyday data like grocery store receipts can help expand access to credit and support upward mobility. Her latest study extends this insight, using broader consumer spending patterns to explore how alternative credit scores could be created for people with no credit history.

Forthcoming in the Journal of Marketing Research, the study finds that when lenders use data from daily purchases — at grocery, pharmacy, and home improvement stores — credit card approval rates rise. The findings give lenders a powerful new tool to connect the unbanked to credit, laying the foundation for long-term financial security and stronger local economies.

Turning Shopping Habits into Credit Data

To test the impact of retail transaction data on credit card approval rates, the researchers partnered with a Peruvian company that owns both retail businesses and a credit card issuer. In Peru, only 22% of people report borrowing money from a formal financial institution or using a mobile money account.

The team combined three sets of data: credit card applications from the company, loyalty card transactions, and individuals’ credit histories from Peru’s financial regulatory authority. The company’s point-of-sale data included the types of items purchased, how customers paid, and whether they bought sale items.

“The key takeaway is that we can create a new kind of credit score for people who lack traditional credit histories, using their retail shopping behavior to expand access to credit,” Lee says.

The final sample included 46,039 credit card applicants who had received a single credit decision, had no delinquent loans, and made at least one purchase between January 2021 and May 2022. Of these, 62% had a credit history and 38% did not.

Using this data, the researchers built an algorithm that generated credit scores based on retail purchases and predicted repayment behavior in the six months following the application. They then simulated credit card approval decisions.

Retail Scores Boost Approvals, Reduce Defaults

The researchers found that using retail purchase data to build credit scores for people without traditional credit histories significantly increased their chances of approval. Certain shopping behaviors — such as seeking out sale items — were linked to greater reliability as borrowers.

For lenders using a fixed credit score threshold, approval rates rose from 15.5% to 47.8%. Lenders basing decisions on a target loan default rate also saw approvals rise, from 15.6% to 31.3%.

“The key takeaway is that we can create a new kind of credit score for people who lack traditional credit histories, using their retail shopping behavior to expand access to credit,” Lee says. “This approach benefits unbanked applicants regardless of a lender’s specific goals — though the size of the benefit may vary.”

Applicants without credit histories who were approved using the retail-based credit score were also more likely to repay their loans, indicating genuine creditworthiness. Among first-time borrowers, the default rate dropped from 4.74% to 3.31% when lenders incorporated retail data into their decisions and kept approval rates constant.

For applicants with existing credit histories, the opposite was true: approval rates fell slightly, from 87.5% to 84.5%, as the new model more effectively screened out high-risk applicants.

Expanding Access, Managing Risk

The study offers clear takeaways for banks and credit card companies. Lenders who want to approve more applications without taking on too much risk can use parts of the researchers’ model to design their own credit scoring tools based on customers’ shopping habits.

Still, Lee says, the process must be transparent. Consumers should know how their spending data might be used and decide for themselves whether the potential benefits outweigh privacy concerns. That means lenders must clearly communicate how data is collected, stored, and protected—and ensure customers can opt in with informed consent.

Banks should also keep a close eye on first-time borrowers to make sure they’re using credit responsibly. “Proactive customer management is crucial,” Lee says. That might mean starting people off with lower credit limits and raising them gradually as they demonstrate good repayment behavior.

This approach can also discourage people from trying to “game the system” by changing their spending patterns temporarily to boost their retail-based credit score. Lenders can design their models to detect that kind of behavior, too.

The Future of Credit

One risk of using retail data is that lenders might unintentionally reject applicants who would have qualified under traditional criteria — say, because of one unusual purchase. Lee says banks can fine-tune their models to minimize those errors.

She also notes that the same approach could eventually be used for other types of loans, such as mortgages or auto loans. Combined with her earlier research showing that grocery purchase data can predict defaults, the findings strengthen the case that shopping behavior can reliably signal creditworthiness.

“If you tend to buy sale items, you’re more likely to be a good borrower. Or if you often buy healthy food, you’re probably more creditworthy,” Lee explains. “This idea can be applied broadly, but models should still be customized for different situations.”

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This article originally appeared on Rice Business Wisdom. Written by Deborah Lynn Blumberg

Anderson, Lee, and Yang (2025). “Who Benefits from Alternative Data for Credit Scoring? Evidence from Peru,” Journal of Marketing Research.

XSpace adds 3 Houston partners to fuel national expansion

growth mode

Texas-based XSpace Group has brought onboard three partners from the Houston area to ramp up the company’s national expansion.

The new partners of XSpace, which sells high-end multi-use commercial condos, are KDW, Pyek Financial and Welcome Wilson Jr. Houston-based KDW is a design-build real estate developer, Katy-based Pyek offers fractional CFO services and Wilson is president and CEO of Welcome Group, a Houston real estate development firm.

“KDW has been shaping the commercial [real estate] landscape in Texas for years, and Pyek Financial brings deep expertise in scaling businesses and creating long‑term value,” says Byron Smith, founder of XSpace. “Their commitment to XSpace is a powerful endorsement of our model and momentum. With their resources, we’re accelerating our growth and building the foundation for nationwide expansion.”

The expansion effort will target high-growth markets, potentially including Nashville, Tennessee; Orlando, Florida; and Charlotte and Raleigh, North Carolina.

XSpace launched in Austin with a $20 million, 90,000-square-foot project featuring 106 condos. The company later added locations on Old Katy Road in Houston and at The Woodlands Town Center. A third Houston-area location is coming to the Design District.

XSpace condos range in size from 300 to 3,000 square feet. They can accommodate a variety of uses, such as a luxury-car storage space, a satellite office, or a podcasting studio.

“XSpace has tapped into a fundamental shift in how entrepreneurs and professionals want to use space,” Wilson says. “Houston is one of the best places in the country to innovate and build, and XSpace’s model is perfectly aligned with the needs of this fast‑growing, opportunity‑driven market.”

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