Report: Houston sees huge jump in new businesses amid the pandemic

by the numbers

A recent report finds that the rate of new Houston startups has popped up significantly. Photo by Zview/Getty Images

By one measure, Houston could be considered the startup capital of Texas.

A new study by personal finance website LendingTree shows the Houston metro area experienced a 37.4 percent jump in new-business applications from 2019 to 2020. That was the highest growth rate among Texas’ six biggest metro areas and the 20th highest growth rate among the 100 U.S. metro areas with the most new-business applications in 2020.

In 2019, the Houston area racked up 85,998 new-business applications, according to U.S. Census Bureau data cited by LendingTree. A year later, the number of applications in the region soared to 118,183. The data measures applications for nine-digit employer identification numbers (EINs), which the IRS uses to track businesses for tax purposes. An EIN is similar to a person’s Social Security number.

“The pandemic has created so much financial chaos for so many people, and that uncertainty surely spurred many Americans to take the plunge,” says Matt Schulz, chief credit analyst at LendingTree.

“Some folks did it out of necessity because of income or job losses,” he adds. “Some folks did it to feel more secure, as the idea of relying on one source of income just didn’t make sense anymore for a lot of people. Others likely did it because they’d wanted to for years but never felt the time was right.”

Across the U.S., the retail sector witnessed the heftiest increase (59.7 percent) in new-business applications from 2019 to 2020.

“So many companies have made it so easy to sell online that people feel good about taking the plunge,” Schulz says. “Setting up an online store is generally simpler, quicker and less expensive than ever, so the barriers to entry that once scared potential entrepreneurs away from opening a new store aren’t the obstacles that they once were.”

Memphis, Tennessee, topped the LendingTree list. The metro area saw a 77.9 rise in new-business applications from 2019 to 2020.

Elsewhere in Texas:

  • Dallas ranked 37th nationally and second in Texas, with a 29 percent increase in new-business applications.
  • San Antonio ranked 62nd nationally and third in Texas, with an 18 percent increase in new-business applications.
  • McAllen ranked 77th nationally and fourth in Texas, with a 13.3 percent increase in new-business applications.
  • Austin ranked 78th nationally and fifth in Texas, with a 13.2 percent increase in new-business applications.
  • El Paso ranked 79th nationally and sixth in Texas, with an 11.9 percent increase in new-business applications.
We're up to our ears in debt, Houston. Photo by Image Source/Getty Images

Surprising share of Houstonians saddled with $10,000 or more in credit card debt

fully charged

You hear that noise, Houston? It's the sound of your bank account screaming under the weight of the heavier debt load you're shouldering.

A report released by personal finance platform LendingTree shows Houston ranks tenth among the 100 largest U.S. metro areas for the share of people with credit card balances totaling at least $10,000.

In an aggressive jump, Houston climbed from No. 32 two years ago to No. 10 this year. According to LendingTree, 20 percent of cardholders in the metro have credit card debt of at least $10,000, and 1.6 percent have credit card debt of at least $50,000.

Elsewhere in Texas, Austin jumped 20 spots in the ranking to sixth in the nation, compared with its 26th-place showing in LendingTree's 2019 report. Some 20.8 percent of Austinites show credit card balances totaling at least $10,000. LendingTree says 1.7 percent of cardholders in Austin owe at least $50,000.

Meanwhile, Dallas-Fort Worth moved from No. 33 to No. 18. Today, 19.2 percent of cardholders in the metro have debt totaling at least $10,000 and 1.5 percent have credit card debt totaling at least $50,000.

San Antonio rose from No. 27 to No. 26. There, 18.4 percent of cardholders have credit card debt of $10,000 or more and 1.2 percent have credit card debt of $50,000 or more.LendingTree offers perhaps a partial explanation for the increase in five-digit credit card balances among Texas metros: "While the saying goes that 'everything is bigger in Texas,' that hasn't traditionally been the case with salaries in the Lone Star State. The big metros in Texas have generally trailed behind the big coastal metros in that measure."

Bridgeport, Connecticut, holds the No. 1 spot for the largest share of cardholders (24.3 percent) with at least $10,000 in debt.------

This article originally ran on CultureMap.

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Rice University spinout lands $500K NSF grant to boost chip sustainability

cooler computing

HEXAspec, a spinout from Rice University's Liu Idea Lab for Innovation and Entrepreneurship, was recently awarded a $500,000 National Science Foundation Partnership for Innovation grant.

The team says it will use the funding to continue enhancing semiconductor chips’ thermal conductivity to boost computing power. According to a release from Rice, HEXAspec has developed breakthrough inorganic fillers that allow graphic processing units (GPUs) to use less water and electricity and generate less heat.

The technology has major implications for the future of computing with AI sustainably.

“With the huge scale of investment in new computing infrastructure, the problem of managing the heat produced by these GPUs and semiconductors has grown exponentially. We’re excited to use this award to further our material to meet the needs of existing and emerging industry partners and unlock a new era of computing,” HEXAspec co-founder Tianshu Zhai said in the release.

HEXAspec was founded by Zhai and Chen-Yang Lin, who both participated in the Rice Innovation Fellows program. A third co-founder, Jing Zhang, also worked as a postdoctoral researcher and a research scientist at Rice, according to HEXAspec's website.

The HEXASpec team won the Liu Idea Lab for Innovation and Entrepreneurship's H. Albert Napier Rice Launch Challenge in 2024. More recently, it also won this year's Energy Venture Day and Pitch Competition during CERAWeek in the TEX-E student track, taking home $25,000.

"The grant from the NSF is a game-changer, accelerating the path to market for this transformative technology," Kyle Judah, executive director of Lilie, added in the release.

5 ways technology is transforming the workplace for people with disabilities

Guest Column

When Camp For All opened its barrier-free gates more than 30 years ago, our founders believed that design could level the playing field for children and adults with challenging illnesses, disabilities, or special needs. Today, that same philosophy is necessary for workplaces across Greater Houston and beyond; only now the ramps and handrails are digital as much as physical, powered by artificial intelligence (AI) and innovation.

Technology has significantly transformed the workplace for individuals with disabilities, making it easier for them to perform their roles with greater efficiency and independence. Tools such as ergonomic workstations, adaptive keyboards, closed captioning, dictation software, screen magnifiers, and robotics help customize the work environment to accommodate various needs. Additionally, advancements in remote work technology have opened the door to broader employment opportunities, reducing physical barriers to participation in the workforce.

Here are five ways that technology turns “reasonable accommodation” into universal enablement and why every employer should take note.

From closed-captioning to real-time conversation

Ten years ago, businesses relied upon human typists and translators to convert conversations and presentations for those with disabilities. Today, AI speech-to-text engines like Microsoft 365’s Live Captions or Google Workspace’s Meet Transcripts render spoken words into on-screen text across 40-plus languages and dialects in milliseconds. This means deaf and hard-of-hearing employees can follow rapid brainstorming sessions without waiting for a post-meeting transcript.

If you are not already using these tools in your workplace, it is easy to start. Most of these services are free or very low-cost, but produce a high return in employee productivity. Individuals with hearing deficiencies can participate in real-time conversations, give feedback, and bring their unique perspectives to the conversation. These tools also enhance productivity for the larger team by providing all employees with a greater flow of ideas, engagement, and recall.

Voice is the new keyboard

Voice assistants like Siri, Alexa, and Windows Voice Access have matured into integrated tools for everyday life and business. They can now handle paragraph-length dictation, code snippets, and complex spreadsheet commands.

Workers with limited dexterity or sight can participate fully in work tasks, which can level the playing field so everyone can succeed and contribute significantly to the workplace. Additionally, voice-assisted technology can help older employees or employees with differing physical needs continue working longer and retain vital organizational knowledge and expertise, contributing to their team's success.

Readability and writing coaches at scale

The new and highly sensitive AI-powered editors, such as GrammarlyGO and Microsoft Editor, flag jargon, suggest plain-language rewrites, and even adjust tone for cognitive accessibility. This can be a game-changer for neurodivergent professionals, including people with dyslexia or ADHD, as they have to use less brain power decoding dense emails and can get help writing responses in their workplace correspondence.

Again, these free or low-cost tools enable all team members to contribute their unique ideas and perspectives when working together to address workplace challenges, better serve clients, and increase productivity.

Alternative text that captures context

Image-recognition models can now draft alt-text beyond “blue shirt on chair.” Tools like Adobe’s Intelligent Captioning or Meta’s Automatic Alt Text describe emotion, action, and even brand context, giving screen-reader users a richer experience.

Employees with blindness or low vision are more likely to navigate online documents, presentations, and requests independently. These technologies also reduce workloads on marketing teams and help them meet accessibility standards without extensive labor and time.

For businesses that want a varied workforce that brings multiple perspectives, these tools give them a power that hasn’t been harnessed before. If employees living with disabilities have more tools at their disposal, they can, in turn, target specific customers in new ways.

Robots and exoskeletons

Many of us remember The Jetsons cartoon show from the 1960s and how far-fetched their housekeeper robot Rosie seemed then. But now, affordable robots and wearable devices to support employees with spinal cord injuries, chronic pain, and disabilities are helping perform repetitive tasks and reducing strain for everyday work tasks.

These devices may revolutionize unemployment to full-time employment opportunities for many individuals. Devices like ABB’s GoFa and Ottobock’s Paexo can help employers reduce injury claims and retain skilled staff; it’s truly a win-win for employees and employers.


The impact is universal

Eight-foot-wide accessible sidewalks, like the ones we have at Camp For All, help wheelchair users, parents pushing a stroller, and travelers rolling luggage. Similarly, AI captions level the playing field for hearing-impaired colleagues, neurodiverse team members, aging professionals, and every employee skimming a meeting on mute. When we treat accessibility as an innovation driver rather than a compliance checklist, we unleash the potential of productivity, loyalty, and creativity throughout our organizations and companies.

Camp For All sees this throughout the year: when design removes barriers, people discover abilities they never knew they had. Let’s bring that spirit into every Houston boardroom and breakroom — because an inclusive workplace isn’t just the right thing, it’s the smart thing.

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Pat Prior Sorrells is president and CEO of Camp For All, a Texas-based nonprofit organization. Located in Burton, Texas, the 206-acre Camp For Allsite was designed with no barriers for children and adults with special needs to experience the joy of camping and nature. Camp For All collaborates with more than 65 nonprofit organizations across the Greater Houston area and beyond to enable thousands of campers and their families to discover life each year. She speaks regularly on the need for inclusive design in public spaces.

CPRIT grants $22M to bring top cancer researchers to Houston

fresh funding

Several prominent cancer researchers are coming to the Houston area thanks to $22 million in grants recently awarded by the Cancer Prevention and Research Institute of Texas (CPRIT).

The biggest CPRIT recruitment grant — $6 million — went to genetics researcher Jean Gautier. Gautier, a professor of genetics and development at Columbia University’s Institute for Cancer Genetics, is joining the University of Texas MD Anderson Cancer Center to continue his research.

The website for Gautier’s lab at Columbia provides this explanation of his research:

“The main objective of our research is to better understand the molecular mechanisms responsible for the maintenance of genome stability. These controls are lost in cancer, which is characterized by genomic instability.”

Aside from his work as a professor, Gautier is co-leader of the Herbert Irving Comprehensive Cancer Center’s Cancer Genomics and Epigenomics Program at Columbia.

Other recipients of CPRIT recruitment grants include:

  • $2 million to recruit Xun Sun from the Scripps Research Institute to the University of Texas Medical Branch at Galveston.
  • $2 million to recruit Mingqi Han from the University of California, Los Angeles to MD Anderson.
  • $2 million to recruit Matthew Jones from Stanford University to MD Anderson.
  • $2 million to recruit Linna An from the University of Washington to Rice University.
  • $2 million to recruit Alissa Greenwald from the Weizmann Institute of Science to MD Anderson.
  • $2 million to recruit Niladri Sinha from Johns Hopkins University to the Baylor College of Medicine.
  • $2 million for Luigi Perelli to stay at MD Anderson so he can be put on a tenure track and set up a research lab.
  • $2 million for Benjamin Schrank to stay at MD Anderson so he can be put on a tenure track and set up a research lab.

Over $20.2 million in academic research grants were awarded to researchers at:

  • Baylor College of Medicine
  • Houston Methodist Research Institute
  • Rice University
  • Texas Southern University
  • University of Houston
  • University of Texas Health Science Center at Houston
  • University of Texas MD Anderson Cancer Center
  • University of Texas Medical Branch at Galveston

In addition, nearly $4.45 million in cancer prevention grants were awarded to one researcher at the University of Texas Medical Branch at Galveston and another at Texas Southern University.

Also, five Houston businesses benefited from CPRIT grants for product development research:

  • Allterum Therapeutics, $2,999,996
  • CTMC, $1,342,178
  • Instapath, $900,000
  • Prana Surgical, $900,000
  • InformAI, $465,188

“Texas is a national leader in the fight against cancer,” said Kristen Pauling Doyle, CPRIT’s CEO. “We can measure the return on investment from CPRIT grants … not only in the economic benefits flowing from increased financial activity and jobs in the state, but more importantly in the cancers avoided, detected early, and treated successfully. Thanks to the Legislature’s vision, this commitment is saving lives.”

Overall, CPRIT approved 61 grants totaling more than $93 million in this recent round of funding.

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