Texas Medical Center Innovation won a Prix Galien Award, which has been described as being comparable to the Nobel Prize for the life science community. Photo by Natalie Harms/InnovationMap

Last month, a global organization honored innovation leaders in life sciences, and the Texas Medical Center was among the recipients of the prestigious awards program.

The 18th annual Prix Galien Awards Gala awarded TMC Innovation with the win in the "Incubators, Accelerators and Equity" category. The Galien Foundation created the awards program in 1970 in honor of Galien, the father of medical science and modern pharmacology. Alongside TMC, the other winners represented biotech, digital health, startups, and more.

"We are super proud of this distinction," Tom Luby, director of TMC Innovation says at Envision 2024 last month, crediting the TMCi team and TMC leadership for the award. "We lean on a lot of advisers and experts — people who volunteer their time to work with startups. Without (them), we would not have been successful."

Luby explains that a Prix Galien Award holds a Nobel Prize level of significance for the community.

TMCi was named a finalist in August, and competed against programs from Cedars-Sinai, Mayo Foundation for Medical Education and Research, TechConnect, and more.

"The Awards Committee is honored to witness the exceptional dedication and creativity of our nominees as they turn visionary ideas into transformative solutions for patients worldwide," says Michael Rosenblatt, chair of the Prix Galien USA Awards Committee, in a news release. "Their unwavering commitment to advancing patient care is truly commendable, and we are honored to celebrate their outstanding contributions to global health."

The award is displayed at TMC Innovation's office, located in the medical center at 2450 Holcombe Blvd.

One of Houston's biggest medical office projects — the $1.3 billion, 400,000-square-foot O’Quinn Medical Tower — is expected to deliver this year. Photo courtesy of Baylor College of Medicine

Report: Houston to see highest concentration of medical office project completions this year

opening soon

Medical office and life sciences projects are making a big splash in Houston’s commercial real estate sector in 2023.

The 42Floors commercial real estate website ranks five Houston-area medical office buildings among the country’s 20 largest medical office projects set to open this year. Meanwhile, 42Floors identifies two Houston developments among the 20 biggest U.S. life sciences projects on tap to debut in 2023.

Leading the list of the largest U.S. medical office buildings scheduled to be completed this year is the $1.3 billion, 400,000-square-foot O’Quinn Medical Tower. Set to open April 14 at the McNair Campus of Baylor St. Luke’s Medical Center, the outpatient facility will adjoin the McNair Hospital Tower, which opened in 2019.

The O’Quinn tower will serve as the new clinical home of the Dan L Duncan Comprehensive Cancer Center. The center is a federally designated facility for cancer care and research.

Highlights of the 12-story O’Quinn tower, southeast of the Texas Medical Center, include:

  • Ambulatory surgery center with 12 operating rooms and 10 endoscopy suites
  • 80-bay setup for infusion therapy
  • More than 70 exam rooms
  • More than 850 parking spaces

In all, five medical office properties in the Houston area made the 42Floors list, representing the highest concentration of major projects in any U.S. metro area that are scheduled to open this year. The four medical office properties joining the O’Quinn tower on the list are:

  • Houston Methodist Sugar Land Medical Office Building 4, 159,252 square feet
  • Kelsey-Seybold Springwoods Village Campus, 157,983 square feet
  • Kelsey-Seybold Ambulatory Surgery Center in Clear Lake, 116,000 square feet
  • 1715 Project in Friendswood, 107,000 square feet

A separate 42Floors list ranks Dynamic One, part of Baylor College of Medicine’s TMC Helix Park, as the second largest life sciences project in the U.S. set to come online this year. Houston’s TMC3 Collaborative Building lands at No. 19.

The 12-story Dynamic One project will feature lab space, offices, restaurants, and stores. It represents the first of four buildings planned for the 37-acre, five-million-square-foot TMC Helix Park, which is projected to generate an economic impact of $5.4 billion.

The 42Floors list puts the square footage of Dynamic One’s north tower at 365,000. Organizations involved in the project cite the square footage as 355,000.

The Baylor College of Medicine has signed up as Dynamic One’s anchor tenant. It will occupy 114,000 square feet of lab and office space.

“Baylor College of Medicine is a major force in life sciences discovery and commercialization at TMC. Their move to TMC Helix Park will serve as a catalyst for enhanced collaboration with TMC’s other esteemed Institutions, as well as with industry leaders from around the world,” Bill McKeon, president and CEO of TMC, says in a news release.

Also located at TMC Helix Park, the four-story TMC3 Collaborative Building will span 250,000 square feet. It will contain research facilities for MD Anderson Cancer Center, the Texas A&M University Health Science Center, the University of Texas Health Science Center at Houston, and TMC.

In addition, the TMC3 Collaborative Building will house life sciences companies, the TMC Data Collaborative, the TMC Venture Fund, the Braidwell hedge fund, and venture capital and private equity firms.

A recent real estate report found that, following healthy gains, Houston's medical office market might see less action in the near future. Photo via Getty Images

Report: Houston's hot medical office market might be on track to cool

by the numbers

Houston’s medical office market is on a roll.

A report from commercial real estate services company JLL shows net absorption and transaction volume saw healthy gains in 2022:

  • The annual absorption total of 289,215 square feet was 50.5 percent higher than the five-year average.
  • Transaction volume notched a 31.7 percent year-over-year increase.

Meanwhile, net rents held steady at $26.92 per square foot, up 1.3 percent from the previous year. The fourth-quarter 2022 vacancy rate stood at 15.9 percent.

Despite those numbers, the report suggests a slowdown in medical office rentals may be underway.

“Tenants who may have previously considered building out or expanding their lease agreements are now in a holding pattern due to increased construction costs and higher interest rates,” the report says. “These factors are having a direct impact on financial decisions when it comes to lease renewals, making it more likely that tenants will remain in their existing location for the foreseeable future.”

Still, the report notes “a number of bright spots for the future of healthcare in Houston.” Aside from last year’s record-high jump in sales volume, the report indicates an aging population coupled with a growing preference for community-based treatment “will lift demand even higher in coming years.”

The report shows that in last year’s fourth quarter, 527,083 square of medical office space was under construction in the Houston area, including:

  • 152,871 square feet in the Clear Lake area.
  • 104,665 square feet in the South submarket.
  • 103,647 square feet in Sugar Land.
Last fall, JLL recognized Houston as a top city for life sciences. According to that report, the Bayou City lands at No. 13 in JLL’s 2022 ranking of the country’s top 15 metro areas for life sciences. JLL says Houston “is poised for further growth” in life sciences.
A new report shows Houston has attracted federal support as the life science industry expands locally. Photo via Getty Images

Report: Federal funding, increased life science space drive industry growth in Houston

by the numbers

Federal funding, not venture capital, continues to be the main driver of growth in Houston’s life sciences sector, a new report suggests.

The new Houston Life Science Insight report from commercial real estate services company JLL shows Houston accounted for more than half (52.7 percent) of total funding from the National Institutes of Health (NIH) across major Texas markets through the third quarter of this year. NIH funding in the Houston area totaled $769.6 million for the first nine months of 2022, exceeding the five-year average by 19.3 percent.

VC funding for Houston’s life sciences sector pales in comparison.

For the first nine months of this year, companies in life sciences raised $147.3 million in VC, according to the report. Based on that figure, Houston is on pace in 2022 to meet or surpass recent life sciences VC totals for most other years except 2021. JLL describes 2021 as an “outlier” when it comes to annual VC hauls for the region’s life sciences companies.

JLL notes that “limited venture capital interest in private industry has remained a challenge for the city’s life sciences sector. Furthermore, it may persist as venture capital strategies are reevaluated and investment strategies shift toward near-term profits.”

While life sciences VC funding has a lot of ground to cover to catch up with NIH funding, there are other bright spots for the sector.

One of those bright spots is the region’s rising amount of life sciences space.

The Houston area boasts more than 2.4 million square feet of space for life sciences operations, with another 1.1 million under construction and an additional 1.5 million square feet on the drawing board, the report says. This includes a soon-to-open lab spanning 25,000 square feet in the first phase of Levit Green.

A second bright spot is the migration of life sciences companies to the region. Two Southern California-based life sciences companies, Cellipoint Bioservices and Obagi Cosmeceuticals, plan to move their headquarters and relocate more than half of their employees to The Woodlands by the first half of 2023, according to the report.

“Houston’s low tax rate and cost of living were primary drivers for the decisions, supported by a strong labor pool that creates advantages for companies’ expansion and relocation considerations,” JLL says.

A new report says Houston “is poised for further growth” in life sciences. Photo via Getty Images

Houston named a market to watch within the life science sector

h-town on the rise

Houston is receiving more kudos for its robust life sciences sector.

Bayou City lands at No. 13 in JLL’s 2022 ranking of the country’s top 15 metro areas for life sciences. JLL says Houston “is poised for further growth” in life sciences.

Here’s how Houston fares in each of the ranking’s three categories:

  • No. 12 for supply of life sciences-oriented commercial real estate
  • No. 14 for access to life sciences talent
  • No. 15 for life sciences grant funding and venture capital

Earlier this year, Houston scored a 13th-place ranking on a list released by JLL competitor CBRE of the country’s top 25 life sciences markets. Meanwhile, commercial real estate platform CommercialCafe recently placed Houston at No. 10 among the top U.S. metros for life sciences.

JLL applauds Houston for strong growth in the amount of life sciences talent along with “an impressive base of research institutions and medical centers.” But it faults Houston for limited VC interest in life sciences startups and a small inventory of lab space.

“Houston is getting a boost [in life sciences] from the growing Texas Medical Center and an influx of venture capital earmarked for life sciences research,” the Greater Houston Partnership recently noted.

Boston appears at No. 1 in this year’s JLL ranking, followed by the San Francisco Bay Area, San Diego, Washington, D.C./Baltimore, and Philadelphia.

Last year’s JLL list included only 10 life sciences markets; Houston wasn’t among them.

“The long-term potential of the sector remains materially unchanged since 2021,” Travis McCready, head of life sciences for JLL’s Americas markets, says in a news release.

“Innovation is happening at a more rapid pace than ever before, the fruits of research into cell and gene therapy are just now being harvested, and revenue growth has taken off in the past five years as the sector becomes larger, an atypical growth track.”

The Bayou City also ranks as the No. 1 life science market in the state. Photo by Dwight C. Andrews/Greater Houston Convention and Visitors Bureau

Report: Houston ranks in the top 10 life sciences markets in the U.S.

rising star

Houston has received a big thumbs-up in a new study ranking the country’s top metro areas for life sciences companies to launch or grow.

The study, published by commercial real estate platform CommercialCafe, puts Houston at No. 10 among the top U.S. metros in the life sciences sector and No. 1 in Texas. Boston topped CommercialCafe’s ranking, with Dallas-Fort Worth at No. 16, San Antonio at No. 29, and Austin at No. 37.

For the study, CommercialCafe examined various factors that support the success of a life sciences ecosystem. The study encompassed 45 major metros in the U.S. Among the highlights for Houston:

  • No. 9 ranking for educational attainment, with 733,577 of residents ages 25 year and older holding at least a bachelor’s degree in science, engineering, or an engineering-related field.
  • No. 12 ranking for life sciences projects under development (a little over 817,000 square feet). Overall, the life sciences sector occupies roughly 2.3 million square feet in the Houston area.

Last month, commercial real estate services company CBRE put Houston at No. 13 among the country’s top 25 clusters for life sciences research talent. DFW appeared at No. 16 and Austin at No. 18.

In assessing Houston’s strength in life sciences, CommercialCafe says that “the resilient Texas powerhouse was lifted by the wave of emerging life sciences clusters across the U.S.”

Two major projects are helping Houston maintain that powerhouse status. The Texas Medical Center (TMC) last year unveiled TMC3, a 37-acre, roughly 6 million-square-foot life sciences campus, and Houston-based Hines recently topped out the 270,000-square-foot first phase of the 53-acre Levit Green life sciences district next to TMC.

“Houston is already fortunate to have such a strong healthcare and higher education ecosystem. The TMC3 project stands to be the cornerstone of our regional life sciences strategy. It will create new jobs, [and] advance innovative medical technologies and healthcare solutions,” Houston Mayor Sylvester Turner said in 2021.

According to Greater Houston Partnership data, the Houston area is home to Houston has more than 1,760 life sciences companies, hospitals, health care facilities, and research institutions. Collectively, the life sciences and healthcare sectors employ 320,500 people in the region.

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Houston company wins AHA competition for pediatric heart valve design

winner, winner

Houston-based PolyVascular, which develops minimally invasive solutions for children with congenital heart disease, was named the overall winner of the American Heart Association’s annual Health Tech Competition earlier this month.

The company was founded in 2014 by Dr. Henri Justino and Daniel Harrington and was part of TMCi's 2017 medical device cohort. It is developing the first polymer-based transcatheter pulmonary valve designed specifically for young children, allowing for precise sizing and redilation as the child grows while also avoiding degradation. PolyVascular has completed preclinical studies and is working toward regulatory submissions, an early feasibility study and its first-in-human clinical trial thanks to a recent SBIR grant from the National Heart, Lung, and Blood Institute.

With the new AHA honor, PolyVascular will be invited to join the association’s Center for Health Technology & Innovation Innovators’ Network, which connects entrepreneurs, providers and researchers to share and advance innovation in cardiovascular and brain health.

“This is a tremendous honor for PolyVascular—we’re especially proud to bring hope to families and children living with congenital heart defects,” Justino said in a news release. “Our technology—a minimally invasive valve that can be expanded over time to grow with the child—has the potential to dramatically reduce the need for repeated open-heart surgeries.”

The Health Tech Competition is a live forum for health care innovators to present their digital solutions for treating or preventing cardiovascular diseases and stroke.

Finalists from around the world addressed heart failure, hypertension, congenital heart defects and other issues that exist in cardiovascular, brain and metabolic health. Solutions were evaluated on the criteria of validity, scientific rigor and impact.

The judges included Texas-based Dr. Eric D. Peterson, professor of medicine in the division of cardiology at UT Southwestern Medical Center, and Dr. Asif Ali, clinical associate professor of cardiovascular medicine at the University of Texas Medical School in Houston and director at Cena Research Institute.

According to the American Heart Association, nearly half of U.S. adults live with some form of cardiovascular disease or stroke.

“The American Heart Association plays a pivotal role in advancing innovative care pathways, and we’re excited that our solution aligns with its guidelines and mission,” Justino said in a news release. “It’s time these life-changing technologies reach the youngest patients, just as they already do for adults.”

EO Houston is where ambitious founders go to scale smarter

Don't Go It Alone

Scaling a business from early traction into true growth is one of the most exciting — and punishing — chapters of entrepreneurship. Houston founders know this better than most. Our city is built on ambition: fast-moving industries, talent from around the world, and opportunities that expand as large as the Texas sky.

But as many entrepreneurs eventually learn, scaling isn’t simply “more of what worked.” It requires new systems, new thinking, and often, a new version of the founder. Even the most capable founders eventually face decisions, pressures, and turning points that only other entrepreneurs can truly understand.

Entrepreneurs’ Organization, a global peer-to-peer network of more than 18,000 business owners across 220 chapters in 75+ countries, exists for exactly this stage. One of the largest chapters in the organization, EO Houston brings that global community to life locally, offering founders the connection, learning, and accountability needed to grow sustainably and to grow up as leaders.

A community where founders learn at the highest level
The real value of EO emerges in the lived experiences of other entrepreneurs. When Houston-area founders talk about the moments growth nearly broke their companies, a universal theme appears: you can’t do it alone.

EO Houston member Robert De Los Santos of Sky High Party Rentals learned this the hard way when rapid post-COVID growth made expansion feel limitless — until it wasn’t.

“After COVID, we doubled every year and assumed inventory was the limit. In 2023 we overbought, only to realize demand had peaked. That taught us a hard truth: growth in one city has ceilings. Expanding into Austin and Dallas — the Texas Triangle — gave us new markets to put our inventory to work while we figured out how to penetrate Houston better. The challenge shifted from a strategy of ‘buy more units for demand’ to learning how to tackle the challenges of ‘leading across cities.’”

Founders often enter EO exhausted from trying to maintain control as things grow more complex. Many discover, like Jarred King of Summit Firms, that scaling requires the difficult shift from doing everything to building the team that can.

“We grew quickly because of my network, relationships, and hustle… but I was doing all the work,” King says. “I realized at that point you have to delegate — not just busy work, but important decisions to your key team, as well as set up really effective SOPs.”

“The uncomfortable truth is that you are no longer the best person for most jobs in your company," agrees Darren Randle of Houston Tents & Events. "Your inability to delegate or hire people smarter than you in key leadership and management level roles will become the single biggest drag on the entire business. You have to accept that your original 'hustle' is now a scalability risk."

Making hard decisions, such as walking away from customers or contracts, can feel like less of a sting when you know others have also been faced with tough choices. Aaron Gillaspie of West U's My Salon Suite recalls, “You can’t be everything to everyone, it’s ok to say no, and just understand some customers aren’t the right fit. It’s a two way street and both must win.”

Perspective is perhaps the most important reality check that members find at EO.

“Bigger volume will not make problems go away — you just got to get used to walking the tightrope," says Roger Pombrol of Emerald Standard. "Develop a system for good balance and do not freak out. Scared is no way to live your life. It’s ok if you fall. Your family will still love you. Money is just money. Love is love. The world tries to make you conflate them, but don’t."

Actionable insights from entrepreneurs who’ve already scaled
Conversations like these are happening every month inside EO Forum Meeting. Each EO chapter is divided into several small Forums. These confidential, committed group of 7–10 entrepreneurs who meet to share the real five percent of what they’re experiencing. It’s not advice, but experience — shared candidly, respectfully, and with the kind of vulnerability that leads to breakthroughs.

What makes Forum so impactful is the honesty it draws out. Entrepreneurs are often surrounded by employees, partners, and even family members who rely on them for answers, but seldom do they have a group where vulnerability is not only welcomed, but expected.

Learning experiences that match your ambition
EO supports that growth far beyond peer groups. Through the organization’s global partnerships with institutions like Harvard, Oxford, and INSEAD, Houston members gain access to executive-level learning experiences designed specifically for entrepreneurs.

These programs help founders step out of the day-to-day and think strategically about competitive advantage, innovation, and organizational leadership. Paired with ongoing learning through EO Jumpstart, Nano Learning, and its global library of member-created content, founders stay informed, challenged, and ahead of emerging trends.

And through global communities — ranging from EO Women and EO Under 35 to industry-specific groups — Houston members tap into expertise that spans continents and sectors. Whether someone is navigating M&A, exploring international expansion, or integrating new technologies, the right perspectives are always within reach.

What truly distinguishes EO Houston, however, is its culture. Houston’s entrepreneurial landscape is uniquely diverse and resilient, filled with founders who are hungry to build, innovate, and elevate the city’s business community. EO Houston amplifies that spirit, creating relationships that are as supportive as they are strategic. Many members describe the chapter not simply as a network, but as a catalyst for becoming better leaders, better thinkers, and — just as importantly — better human beings.

Your next level starts here
For entrepreneurs who are ready to scale—beyond their first million, beyond their current comfort zone, and toward a future that requires sharper leadership and stronger community—EO Houston offers an unmatched platform. It is a place where ambitious founders grow faster, think bigger, and gain the confidence to take bold next steps.

If you’re ready to elevate your business and your leadership alongside people who understand the journey, EO Houston is ready to welcome you. Your next level starts with the peers who can help you reach it. Learn more and become a member here.

3 Houston companies land on Deloitte’s Technology Fast 500 list

trending up

Three Houston companies have made this year’s Deloitte North America Technology Fast 500 list.

The report ranks the fastest-growing technology, media, telecommunications, life sciences, fintech, and energy tech companies in North America. The Houston companies to make the list, along with their revenue growth rates from 2021-2024, include:

  • No. 16 Action1 Corp., a provider of cybersecurity software. Growth rate: 7,265 percent
  • No. 92 Cart.com, a commerce and logistics platform. Growth rate: 1,053 percent
  • No. 312 Tellihealth, a remote health care platform. Growth rate: 244 percent

“Houston’s unique blend of entrepreneurial energy and innovation continues to strengthen the local business community, and I’m thrilled to see Houston companies honored on the 2025 Deloitte Technology Fast 500 list. Congratulations to all the winners,” said Melinda Yee, managing partner in Deloitte’s Houston office.

Action1 is no stranger to lists like the Deloitte Technology Fast 500. For instance, the company ranked first among software companies and 29th overall on this year’s Inc. 5000, a list of the country’s fastest-growing private companies. Its growth rate from 2021 to 2024 reached 7,188 percent.

Mike Walters, president and co-founder of Action1, said in August that the Inc. 5000 achievement “reflects the dedication of Action1’s global team, who continue to execute against an ambitious vision: a world where cyberattacks exploiting vulnerabilities are entirely prevented across all types of devices, operating systems, and applications.”

Atlanta-based Impericus, operator of an AI-powered platform that connects health care providers with pharmaceutical and life sciences companies, topped the Deloitte list with a 2021-24 growth rate of 29,738 percent.

“Our mission is to set the standard for ethical AI-powered physician connections to pharma resources, accelerating and expanding patient access to needed treatments,” said Dr. Osama Hashmi, a dermatologist who’s co-founder and CEO of Impiricus. “As we continue to innovate quickly, we remain committed to building ethical bridges across this vital ecosystem.”