Two Houston startups won the SXSW Pitch showcase in their respective categories. Photo via Getty Images

Houston had a strong showing at this week's SXSW Pitch showcase in Austin, with two local startups claiming top prizes in their respective categories.

Little Place Labs, a Houston space data startup, won the Security, GovTech & Space competition. Clean-tech company Helix Earth, which spun out of Rice University and was incubated at Greentown Labs, won in the Smart Cities, Transportation & Sustainability contest.

As one of SWSX's marquee events, held March 8-10, the pitch competition featured 45 finalists, selected from 589 applicants, in nine categories.

"We faced impressive competition from a well-chosen set of finalists, and we're honored to be chosen as the winners. One of the judges even commented, ‘Who knew you could make air conditioning sexy,’” Brad Husick, Helix's co-founder and chief business officer, said in a release.

Helix Earth was launched in 2022 and is known for its space capsule air filtration system that was co-developed for NASA. The commercial air conditioner add-on technology, now in a pilot phase, has been used to retrofit HVAC systems for commercial buildings and can save up to 50 percent of the net energy, cutting down on emissions and operating costs, according to the company. Its co-founder and CEO Rawand Rasheed was named to the Forbes 30 Under 30 Energy and Green Tech list for 2025.

“This win validates our mission to drive sustainable innovation in commercial air conditioning and beyond. We are excited about the future of Helix Earth and the impact we will have in reducing energy consumption and emissions," Rasheed said in a statement.

Little Place Labs echoed that sentiment with a post on LinkedIn celebrating the win.

"This all started with a simple mission: To deliver real-time space insights to help first responders, mission planners, and decision-makers act before problems arise,” the post read. "Today, that mission feels even stronger."

The company uses advanced AI and machine learning to deliver near-real-time space analytics for both ground and space-based applications. Its software aims to help first responders, mission planners and decision-makers detect anomalies and make informed decisions quickly. It was co-founded in 2020 at Oxford by Houstonian and CEO Bosco Lai and Gaurav Bajaj and participated in the 2023 AWS Space Accelerator.

Tempesst Droneworx, a veteran-owned software company that provides real-time contextual intelligence for early warning detection, took home the Best Speed Pitch prize.

Jesse Martinez, founder of invincible, and Anu Puvvada of KPMG were two judges representing Houston.

According to SXSW, 647 companies have participated in SXSW Pitch over the years, with over 93 percent receiving funding and acquisitions totaling nearly $23.2 billion. See the full list of 2025 winners here.

PHIOGEN, based at Texas Medical Center Innovation, is headed to Austin next month. Photo courtesy of TMC

Houston biotech startup selected to pitch at SXSW

austin bound

Houston biotech startup PHIOGEN is among 45 finalists that will present at this year’s SXSW Pitch showcase in Austin.

PHIOGEN is one of five food, nutrition, and health startups that will participate in the pitch competition, set for March 9 and 10. A panel of judges will listen to the pitches and then pick the winners. Since 2009, SXSW Pitch finalists have raised more than $23.2 billion in funding.

PHIOGEN has developed the world’s first biogenetics technology platform to harness the power of bacteriophages in the fight against serious drug-resistant infections. Bacteriophages — viruses that are found in bacterial cells — “are ubiquitous in the environment and are recognized as the most abundant biological agent on earth,” according to an article published in 2022 by StatPearls.

Founded in 2023, PHIOGEN is a spinoff of the Baylor College of Medicine’s TAILOR Labs. The startup, based at the Texas Medical Center’s Innovation Hub, has attracted more than $5 million in funding.

“Nothing about our treatments is fabricated; it boils down to creating natural environments that mimic real-life infections, driving biological changes to create ‘super phages’ against the superbugs,” Amanda Burkardt, CEO of PHIOGEN, said in 2023. “As a result, we receive high-performing phage fighters that are trained and ready to deliver safe and effective treatments for clinical applications.”

Professional services firm KPMG is the main sponsor of SXSW Pitch.

Six of this year’s SXSW Pitch judges are from Houston:

  • Heath Butler of Mercury Fund
  • Jesse Martinez of LSA Global
  • Trevor Purvis of the Houston Astros
  • Anu Puvvada of KPMG
  • Irene Tang of StartOut
  • Nate Thompson of HTX Sports Tech

“2024 is an exciting year for startups, and we are looking forward to showcasing these inspiring companies that are making waves in their respective industries and the world as a whole, as well as help connect them with the resources needed to continue advancing,” says Chris Valentine, producer of SXSW Pitch.

Anu Puvvada, KPMG Studio leader, shares how her team is advancing software solutions while navigating hype cycles and solving billion-dollar-problems. Photo courtesy of KPMG

How this Houston-based studio is tackling billion-dollar problems with internal innovation

Q&A

In 2021, KPMG, a New York-based global audit, accounting, and advisory service provider, formed a new entity to play in the innovation space. The Houston-based team finds innovative software that benefit KPMG's clients across industries.

"We're really focused on transformative businesses that we can offer our clients in the next three to five years to solve fairly large problems," Anu Puvvada, KPMG Studio leader, tells InnovationMap.

Now, almost two years later, KPMG Studio has spun out its first company, AI-based security startup Cranium, which has raised $7 million in a seed round led by SYN Ventures with support from KPMG.

Established to advance internal innovation, KPMG Studio's technologies don't always get spun out into startups like Cranium, but with support of the team, the early-stage ideas receive guidance from the company's resources with the potential to be rolled into KPMG's suite of services for its clients.

In an interview with InnovationMap, Puvvada shares more about the program, the Cranium spin out, and why she's passionate about leading this initiative from Houston.

InnovationMap: Tell me about KPMG Studio's structure and your overall goal with the program.

Anu Puvvada: I like to think about it more around framing. We frame the studio around three pillars: incubate, accelerate and amplify. We take in a lot of ideas that come from the business and from our clients and we incubate and see which of them are really high growth solving like a very large problem across verticals and horizontals. When I say a big problem — it's got to be a $1 billion-plus problem. With Cranium, we saw some very early indicators, like a rise in AI adoption amongst our clients. We saw that AI was in this spot where it was going to hit an exponential growth marker. We also saw a rise in cyber attacks. All of that plus conversations with clients made us realize that there's there's something big brewing here.

We're looking at a ton of ideas, and then parsing out maybe 10 that we create into the next Cranium. And then in accelerate, we're finding early adopters and we're growing the idea, building it, raising venture capital for the idea if we decide to spin it out.

IM: Seems like a mutually beneficial relationship between KPMG and these innovators, right?

AP: I would say it's good for KPMG because it allows us to innovate differently and innovate with agility. My group actually operates as a startup within a large organization. And then we create this ecosystem around startups inside KPMG, so when it exits, it's got the basis to run on its own. That's important for us because it gives us agility, it lets us really capitalize on our brand. It's not just what it brings us, but also what it brings our clients.

There's a big competitive advantage to innovating inside KPMG. These innovators get to work inside our walls protected by the infrastructure of KPMG. They, they get a technology team to help them build the idea. And they get to use their brand of KPMG, use our marketing engine, our comms engine, like everything that's behind us. A startup outside, it doesn't get any of that. So, it almost like accelerates them into market when the spin out happens. We use the differentiators and the competitive advantage of KPMG in order to amplify the story of that startup and their value proposition in the market.

IM: So there are two paths for these technologies, right?

AP: We either have what we call spin ins, which means it's created and spins into the business or we have spin outs, which is what Cranium is. We classify spin outs into its own startup or a sale of an asset. And then for the spin in, we would license to our clients under the mothership of KPMG.

IM: Is the studio operating completely in Houston?

AP: We source our ideas from all over nationally. I'm in Houston and a lot of my support team is actually in Houston as well. And I work with a lot of the Houston ecosystem around innovation. I really see Houston as a big future market. We are at the center of climate and ESG, the space economy, and medicine. Those are three big like curves that are going to be hitting in the next five years. So, it is integral for studio to be integrated into that ecosystem to position KPMG for the future.

IM: What's your vision for the studio?

AP: I definitely see us taking in more ideas into studio to build internally for our pioneers, which is what we call our innovators — Jonathan Dambrot, who is the founder of Cranium, he's the pioneer. We'll definitely be doing more Craniums that spin out of the firm. And we have a number that are spinning into the firm already.

I also see us evolving to bring in external startups into the studio so we can also give them the entire ecosystem a way to be lifted up and to shepherd each other into the future.

It's really important that anything that we invest in and we work on is staying measured through these hype cycles that are happening. We need to make sure that these ideas are grounded in the problem that's being solved in an adaptable way and that there's a strong market need for it. That's something that the studio really spends a lot of time doing in the beginning, which kind of helps mitigate some of these hype cycles for us and our clients.

When you think about innovation as a whole, it's mired with risk and uncertainty. You never know if something's going to work or not. And part of what we have to do with any idea that we're building in the studio or anything that our clients are doing around innovation, we have to do as much as we can to mitigate that risk and uncertainty. And that's kind of what KPMG's wheelhouse is.

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This conversation has been edited for brevity and clarity.

While most corporations should be optimizing their company cultures, energy companies specifically need to move the needle on driving forward innovative culture for its employees. Getty Images

Sustaining a culture of innovation is key to driving the energy industry, says this Houston expert

Guest column

The prevailing economic environment has made innovation essential to gaining a competitive edge in the oil and gas industry.

Global economic shifts and the unstable oil market have been considerable factors inhibiting the advancement of innovation in the oil and gas sector. Oil prices have not significantly increased in the past four to five years, while investors and Wall Street hold corporate executives accountable for capital discipline.

In light of these trends, corporate culture and innovation are key factors that hold the potential to drive novelty in the next upcycle. To bring value to shareholders, the oil and gas industry needs to nurture an environment that fosters a radically innovative culture to create new product lines and markets, unique ecosystems, product content, and processes.

Culture from the top down

Organizational culture is one of the essential dynamics that drive innovation. Employee behavior helps influence and promote the acceptance of innovation as a fundamental corporate value. Organizations are therefore admonished to concentrate on fostering an innovative culture that allows the growth of new ideas.

This culture needs to be created by deliberate action on the part of leaders of industry or by indirect measures such as composition and institutional policy directions. A model of innovative culture which translates into cultural transformation emerges as a result of this deliberate action and institutional policy directions.

Various studies over the years have examined innovative culture models focused on cultural characteristics or factors. A comprehensive, innovative culture model that incorporates cultural traits and their determinants is reviewed in this contemplative piece.

Execution  culture vs. innovative culture

In her book, "The Culture Map: Breaking Through the Invisible Boundaries of Global Business," Erin Meyer explains that "ambidextrous culture" is the concurrent search of flexibility and alignment at a business unit/sector which is linked to several organizational outcomes including improved performance and innovation.

This ambidextrous culture can be divided into two broad categories: Execution culture and innovative culture. Execution culture is a working environment that is more process- and task-driven to get things done. The oil and gas industry has typically favored the execution culture, where there is a central decision-maker at the head of the table. Research and recommendations on pertinent matters are typically presented to decision-makers who sit through a PowerPoint presentation. Subsequently, a decision is made based on the facts presented via PowerPoint presentation.

One critical demerit of this setup is that it usually leans towards low-risk conservative judgment. The executive lifestyle has worked in the past in the oil and gas industry due to the high fixed cost, and the "failure is unacceptable" approach in the industry.

With new technologies such as 3D printing, predictive analytics, machine learning, and deep learning, one can test some ideas or thoughts through rapid prototyping in a lab setting to test their hypothesis. Therefore, this type of culture as a sole approach to decision-making in the industry may need to be reconsidered.

Meanwhile, innovative culture is a work environment where leaders encourage and nurture unorthodox thinking in approaching problem solutions and applications. If the energy industry leaned more toward this style of culture, it would help foster innovation and accelerate the innovation landscape in the industry.

Innovative culture is a more design-oriented approach that generates a large pool of options and also incorporates a visual thinking framework. It enhances a creative mode for the audience, and everybody in the company ends up being a decision-maker. This type of culture fosters open innovation, eliminates the fear of expression, and pushes for more collaboration and creativity in the ecosystem.

According to a recent survey done by Accenture Strategy, 76 percent of leaders say they regularly empower employees to be innovative, while only 42 percent of employees agree. This shows an apparent disparity in more than the perceptions of employers versus employees and the belief that innovative culture is not promoted by middle management. This barrier can be broken down by instituting and enforcing an innovative culture.

Staying agile in a transforming world

The world has changed, and it will continue to transform. Various factors are disrupting traditional methods of business management across the globe, and organizational behavior is being impacted significantly. For an organization to be competitive globally, it requires innovation and creativity.

The rate at which businesses are facing competition requires agility. Employees are pressured to give their best and to come up with new ideas at a level even beyond some of history's greatest minds. For many, uncertainty and insecurity abounds. The fear of being made redundant and a resulting lack of trust prevents creativity among employees.

Trust, productive gameplay, and fun — critical components of an innovative culture — can spark creativity and increase global competitiveness. Due to the recent downturn, most teams are burdened with the same amount of work, which was meant for double or tripled their workforce and are still expected to perform at their peak capability. They need the right conducive environment to function.

Implementing action

While the energy industry should avoid trying to copy innovative practices from technology companies, oil and gas companies should review possible case studies that can be incorporated in fostering an acceptable culture for millennials to be attracted to the industry.

Presentation is important

Take a look at your marketing materials, for instance. Skip the stereotypical image of the macho oil guy on a rig operating the brake handle and showcase how the industry is adapting open innovation across sectors such as using predictive analytics and rapid prototyping to help design a safe working environment. Showcasing the conducive culture we experience in oil and gas, which challenges us to think outside the box and solve the world's energy problems will be an excellent way to create opportunities internally in companies and also attract and retain talent from different backgrounds and industries to help solve the world's energy problems.

Consider flexible work initiatives

To help establish and foster an innovative culture in oil and gas, the industry needs to embrace virtual and remote working environments, retraining and refresher courses to keep employees' skills relevant to solving problems, leaders setting a positive example on work-life balance and cutting down or avoiding long-distance travel via virtual meetings. Others essential pointers to consider are, giving employees the freedom to be themselves at work, leadership or management having a positive attitude towards failure, allowing remote work on days on which employees have personal commitments, networking events with company leaders scheduled during office hours, having an open channel for the report of sexual discrimination/harassment incident(s) to the company, among others.


I'd like to close with a quote from another influential book, "The Innovator's Dilemma," by Harvard Professor Clay Christensen. He writes, "When an organization's capabilities reside primarily in its people, changing to address new problems is relatively simple. However, when the capabilities have come to live in processes and values and especially when they have become embedded in culture, change has become extraordinarily complicated."

Establishing a uniquely innovative culture within the energy industry will be a great foundation going forward, for spurring progress in the oil and gas sector.

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Nii A. Nunoo is senior associate and management consultant within Strategy and Energy Core Operations at KPMG.

From Rex Tillerson's thoughts on leadership and politics to Houston's role in the low-carbon energy movement, check out these powerful quotes from the 2020 KPMG Global Energy Conference. Getty Images

Overheard: Oil and gas experts weigh in on the future of low-carbon energy and Houston's role in the movement

Eavesdropping in Houston

As the energy capital of the world, Houston can't get complacent. The oil and gas industry is changing — carbon is out and finding clean energy alternatives is in.

At the 2020 KPMG Global Energy Conference on June 5 and 6, hundreds of energy professionals listened to the O&G elite — even including former Secretary of State and former ExxonMobil CEO Rex Tillerson — give their two cents about the revolution. Day two of the conference featured the Houston Low Carbon Energy Climate Summit by the Center for Houston's Future.

In case you missed it, here are a few powerful quotes from both days of the program — from Houston's role in the low-carbon energy movement to Tillerson's leadership expertise.

"Texas is one of those places where you can just get stuff done.”

— Cindy Yeilding, senior vice president at BP, says Texans are willing to collaborate on this. In the "Visions of our Energy Future" panel during the Low Carbon Energy Summit on Thursday, June 6, she predicted Houston will be a net zero carbon city by 2040 or 2035.

“One of the things we need to focus on is being able to attract and retain talent.”

— Mary Anne Brelinsky, CEO of EDF Trading, stressing the importance of talent in the effort to keep Houston the energy capital of the world. Brelinsky advocated for corporations and its execs getting involved with local universities. "We're competing against Silicon Valley," she says in the panel.

"You’ve got the source, and you’ve got the sinks. … Houston is going to be one of our focal points.”

— Charlene Olivia Russell, vice president of Low Carbon Strategies at Oxy, on how Houston is set up for success when it comes to staying as a power player in the global low carbon energy platform, but, during the panel, she emphasizes collaboration needs to continue happening.

“When Shell agreed to sponsor this summit, it was pitched as a climate change summit. It was changed to a low-carbon summit because some people in this room are uncomfortable with the phrase 'climate change.'"

— Jason Klein, vice president of U.S. Energy Transition Strategy at Shell, says at the "Energy Transformations" panel during the Low Carbon Energy Summit on Thursday, June 6.

"If we want to be the leader and the energy capital of the world, we need to attract talent, capital investment, and innovation, and if the people are going to do those things think that we don’t even like to talk about those things, then they aren’t going to come here — they’re going to go to San Francisco.”

— Klein continues. The audience responded with a round of applause.

“I think it is important as Americans to remember that our greatest strength and the most important element to our national security has been that we are a nation that has many allies and friends. Our adversaries — Russia, China, North Korea, Iran — have no allies or friends.”

— Former Secretary of State Rex Tillerson who served as CEO of ExxonMobil from 2006 to 2016. Tillerson discussed a wide range of topics on Wednesday, June 5, at the 2020 KPMG Global Energy Conference in his fireside chat with Regina Mayor, global sector head and U.S. national sector leader of energy and natural resources at KPMG US. Click here to watch the full interview.

“We’re all a work in progress. You’re never done. I’m not done — I’m still a work in progress. If you have that view and you have that set of values that are never going to change … [then] I can keep developing as a human being.”

— Tillerson says of leadership lessons learned. He's an avid proponent of the Boy Scouts of America organization, and cited many valuable lessons he's learned about himself and about leading people from his involvement in the nonprofit.

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Intuitive Machines lands $148M as part of NASA Moon Base funding

to the moon

Houston-based Intuitive Machines has been awarded $148.3 million to deliver its Nova-C lander to the moon by 2028. The funding is part of $600 million that NASA recently awarded to three companies as part of the agency’s Moon Base Program.

The contracts aim to support sustained human presence and commercial operations on the Moon. Austin-based Firefly Aerospace was awarded $144.2 million by NASA for one mission and Pittsburgh-based Astrobotic netted $297.9 million for two lunar landings. Intuitive Machine's award is the company's sixth task order under NASA's Commercial Lunar Payload Services (CLPS) program.

“We’re building a proving ground for Moon Base operations,” Ryan Stephan, NASA’s Moon Base acting director of cargo landers, said in a news release. “Accelerating our Moon mission ordering cadence and launch opportunities enable us to move quickly to learn, iterate, and improve.”

Under the latest task order, Intuitie Machines will deliver three scientific and operational payloads to the moon, which include a:

  • Linear Energy Transfer Spectrometer (LETS) radiation monitor to gather critical environmental safety data
  • Advanced stereo cameras to analyze surface-plume interactions (SCALPSS)
  • Laser retroreflector array (LRA) for precise cislunar positioning

The funding breakdown includes a $68.6 million base contract and a $79.7 million performance incentive for Intuitive Machines.

The company says the funding will allow it to create a standardized and repeatable "lunar utility pipeline" for delivering cargo to the moon.

"We are shifting the paradigm from custom aerospace engineering to commercial mass production of lunar infrastructure," Steve Altemus, CEO of Intuitive Machines, said in a separate news release. "Our flight-proven Nova-C platform allows us to build, test, and deploy multiple landers in parallel using Industry 4.0-powered manufacturing. This contract directly advances our core mission to provide persistent, reliable, and commercial baseline of transport, connectivity, and operations that allows our customers to stay longer and achieve more on the Moon."

NASA also shared that it is exploring plans to send PROMISE, a rover based on the Mars Perseverance and Curiosity rovers, to the moon and it plans to seek proposals for additional lunar lander missions, technology demonstrations, a communications and navigation satellite network, and new science payloads to support its lunar outpost. NASA is developing its Moon Base near the lunar South Pole. The agency expects it to come to fruition sometime after 2032.

Intuitive Machines had received its last CLPS award for $180.4 million in March 2026. It will be the first mission to utilize the company's larger cargo lunar lander, Nova-D. The company was also recently awarded a $1 million grant from Maryland Gov. Wes Moore to expand its robotics operations in the state.

UT team develops wearable technology for atmospheric water harvesting

In The Air

Engineers at the University of Texas at Austin have developed a prototype jacket that harvests clean drinking water directly from the atmosphere, and it works even in the driest desert conditions.

The research, published in Science Advances, marks the latest milestone in nearly a decade of work by materials scientist and chair professor Guihua Yu and his team at the Cockrell School of Engineering's Walker Department of Mechanical Engineering and Texas Materials Institute. The wearable technology marks a significant leap: instead of a bulky, stationary machine, this jacket does the work.

Photo courtesy of UT Austin

"We have been working on atmospheric water harvesting technology for a number of years," Yu says. "This current version is even more wearable. We're transitioning from conventional, more stationary water harvesting to something truly portable and personal."

Yu's lab first published work on hydrogel-based water harvesting around 2019, and the jacket is the latest evolution of that platform, now called AirGel. Last year, the broader AirGel invention won the top prize in the graduate category of the National Collegiate Inventors Competition.

The jacket is woven with specially engineered hydrogel fibers; ultra-porous materials that attract and absorb moisture from the surrounding air much like a household desiccant. Unlike a desiccant, the material doesn't require intense heat to release that water. The hydrogel is thermally responsive, meaning a modest rise in temperature — even from mild solar heating — is enough to release the water it has captured.

Condenser test in AustinSo, somebody would be wearing the jacket, or perhaps carrying this gel-like textile as a blanket, as it passively absorbs moisture from the air. Then they would detach the textile panels and place them into a small, portable collector unit; essentially a compact heater. The water evaporates out of the textile, condenses inside the collector, and drips out as clean, drinkable water.

"It immediately becomes drinkable because it already goes through the distillation process," Yu explains.

In trials, the jacket produced between 400 and 900 milliliters of water per day depending on humidity, or roughly 14-30 ounces, nearly a quart, depending on the air's humidity. With one kilogram of the textile, the researchers found they could generate approximately 3.7-4 liters of water in arid conditions, and potentially double that in humid ones. So far, the team has tried the jacket out in very dry, semi-dry, and humid areas, and the jacket was able to pull water from each climate.

Lead researcher Chuxin Lei, a postdoctoral researcher on Yu's team and co-author on the paper, says the goal was to rethink who this technology could serve.

Portable bag contents

"Many current [atmospheric water harvesting] systems are still built as rigid or stationary platforms, making them less suitable for people who are moving, working outdoors, or operating in some remote environment. This lead us to ask whether we could build a water harvesting system that could become more like clothing — light, wearable, flexible, and naturally suited for personal use," Lei says.

The potential applications are wide-ranging. Yu's team has previously worked with the Department of Defense on water solutions for soldiers, where water logistics can be dangerous and costly. The technology could also serve hikers, emergency responders, disaster relief workers, and agricultural and field workers. Anyone who needs clean water on the go and far from infrastructure.

The team also sees a potential future where the technology complements large-scale centralized water systems rather than replacing them.

"Our solution cannot be a universal solution for all," Yu acknowledges. "But I think it's an extremely important alternative."

For now, the jacket is still a laboratory prototype, but Yu and Lei are optimistic. With the right industry partnerships, they say, the technology could realistically reach commercial scale within three to five years.

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This article originally appeared on CultureMap.com, written by Natalie Grigson.

Houston ranks among world’s top 30 emerging startup ecosystems

Startup Status

Long known as the Energy Capital of the World, Houston also ranks among the world’s top 30 emerging startup ecosystems, according to a new report.

The report from Startup Genome, a research and advisory organization, doesn’t assign a specific numeric ranking to Houston’s startup ecosystem. Rather, it puts Houston in the ranking range of 21 to 30 for emerging ecosystems. Startup Genome weighed factors such as early-stage funding, performance and talent to identify the top emerging ecosystems.

Houston also gained notice for being one of the world’s 20 emerging ecosystems with at least four unicorn startups in the past 10 years. Houston and nine other ecosystems each had four unicorns.

According to StartupBlink, a startup research platform, Houston’s startup ecosystem grew 24 percent in 2025, with over 1,300 startups and total startup funding exceeding $808 million. StartupBlink places Houston at No. 46 among the world’s top 100 startup ecosystems.

In a recent post on LinkedIn, David Horsup, executive in residence at the Rice Alliance Clean Energy Accelerator, wrote that Houston “has all the ingredients to be wildly successful if it stays true to its differentiated pillars that drive the economy — energy, medical, and aerospace.”

Mumbai topped Startup Genome’s list of emerging ecosystems, followed by Istanbul, Madrid, Salt Lake City-Provo and Barcelona. After Salt Lake City-Provo, the top U.S. ecosystems were Phoenix, Detroit, Minneapolis and Las Vegas.

Silicon Valley led Startup Genome’s ranking of the world’s top established ecosystems, followed by New York City, London, Tel Aviv and Boston. Austin landed at No. 18 in this category and Dallas at No. 27.

“For much of the past decade, this report has chronicled the welcome dispersion of opportunity beyond the traditional hubs,” Startup Genome writes. “That trend has not died — but it has been complicated. Capital and scale are consolidating once more, particularly in the United States, and the gap between leading and emerging ecosystems is widening.”