From a new, innovative mixed use development to food and fitness startups, here's what lifestyle innovation trended in Houston this year. Courtesy of The MKT

Innovation surrounds us, from the B2B startups designing software solutions for huge oil and gas corporations to a fitness app that allows users to safely and efficiently book private trainers.

During 2019, InnovationMap published stories on these startups, burgeoning mixed-use spaces, innovative sustainable stores, and more. Here's which of those stories readers flocked to.

Houston hangover pill startup seen on Shark Tank rebrands following multimillion-dollar raise

On his failed investor attempt on Shark Tank, Brooks Powell couldn't secure a shark investment for $400,000. Now, he just closed on $2.1 million for his startup. Courtesy of Cheers

When Brooks Powell's Houston-based startup got passed over by the investors on Shark Tank last year, he didn't let it deter him. Instead, the Houston entrepreneur buckled down and started seeking investments off the screen.

It paid off, and Cheers (née Thrive+) recently closed a $2.1 million seed round. The round was lead by NextView Ventures, which has the likes of TaskRabbit, threadUP, and Letgo among its portfolio.

With the new investment, Brooks says the company is rebranding from Thrive, its original moniker, to Cheers.

"Thrive+ doesn't really say anything about what we did or who we are about," Powell says. "We knew we needed something fitting for the alcohol industry but at the same time has the connotation of fun, responsibility, and health." Continue reading.

Massive mixed-use project to bring creative office and coworking space to the Houston Heights

The MKT expects to revolutionize the live-work-play model with everything from retail and restaurant to office and coworking space. Courtesy of The MKT

On a stroll or a spin down the Heights Hike and Bike Trail, you might not notice a complete transformation is eminent. The MKT — a mixed-use renovation and build out project — is getting ready to break ground.

The five-building, 200,000-square-foot project will bring 30 retail and restaurant concepts, and 100,000 square feet of office space together along with four acres of green space, parking, and an outdoor venue alongside 1,000 linear feet of the trail between North Shepherd Drive and Herkimer Street. The MKT name comes from the Missouri-Kansas-Texas railroad — later known as the Katy Railroad — that was transformed into the Heights Hike and Bike Trail. Continue reading.

5 Houston lifestyle startups changing the way you live, work, and play

From restaurant finding apps to a healthy food startup — these are the lifestyle startups to watch in Houston. Getty Images

While sometimes it seems like a lot of the Houston innovation landscape is energy and medical tech companies, there are several lifestyle-focused startups that fly under the radar. Whether it's a fizzle cocktail creator — or a cure for a hangover from said fizzy cocktail — these five Houston startups are ones to watch. Continue reading.

Houston nonprofit that's upcycling textiles and clothing opens new store

Magpies & Peacocks has prevented over 220,000 pounds of textiles in landfills by upcycling fabrics for new fashion items. The nonprofit now has a new store to keep up with demand. Magpies & Peacocks/Instagram

Magpies & Peacocks, the nation's only nonprofit design house that collects and reuses post consumer textiles, clothing, and accessories, opens their first permanent retail space in Houston on Saturday, June 1. The Co:Lab Marketplace will be located inside the organization's current warehouse space in Houston's East End.

The 6,000-square-foot space holds luxury upcycled sustainable clothing, jewelry, accessories, and home decor, along with partner sustainable and ethical brands. There will also be a bar offering cocktails and coffee, a lounge area, and a capsule gallery featuring the work of local artists.

Sustainability and avoiding unnecessary waste — coupled with fashion — are the goals of the nonprofit, which is also a part of the United Nations Alliance for Sustainable Fashion. Continue reading.

4 fitness-focused Houston startups changing the industry

From what you wear to where you go, here are some Houston fitness startups changing the game. Courtesy of Accel Lifestyle

Houston has developed into a city full of boutique fitness studios and updated parks, and now the city is seeing fitness startups popping up as well. From creating a smell-free fabric to engaging NASA technology into training, these Houston fitness startups are working out innovative ideas into the exercise industry. Continue reading.

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Justice Department sues to block Houston-based HPE's $14B buyout of Juniper

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The Justice Department sued to block Hewlett Packard Enterprise's $14 billion acquisition of rival Juniper Networks on Thursday, the first attempt to stop a merger by a new Trump administration that is expected to take a softer approach to mergers.

The Justice complaint alleges that Hewlett Packer Enterprise, under increased competitive pressure from the fast-rising Juniper, was forced to discount products and services and invest more in its own innovation, eventually leading the company to simply buy its rival.

The lawsuit said that the combination of businesses would eliminate competition, raise prices and reduce innovation.

HPE and Juniper issued a joint statement Thursday, saying the companies strongly oppose the DOJ's decision.

“We will vigorously defend against the Department of Justice’s overreaching interpretation of antitrust laws and will demonstrate how this transaction will provide customers with greater innovation and choice, positively change the dynamics in the networking market,” the companies said.

The combined company would create more competition, not less, the companies said.

The Justice Department's intervention — the first of the new administration and just 10 days after Donald Trump's inauguration — comes as somewhat of a surprise. Most predicted a second Trump administration to ease up on antitrust enforcement and be more receptive to mergers and deal-making after years of hypervigilance under former President Joe Biden’s watch.

Hewlett Packard Enterprise announced one year ago that it was buying Juniper Networks for $40 a share in a deal expected to double HPE’s networking business.

In its complaint, the government painted a picture of Hewlett Packard Enterprise as a company desperate to keep up with a smaller rival that was taking its business.

HPE salespeople were concerned about the “Juniper threat,” the complaint said, also alleging that one former executive told his team that “there are no rules in a street fight,” encouraging them to “kill” Juniper when competing for sales opportunities.

The Justice Department said that Hewlett Packard Enterprise and Juniper are the U.S.'s second- and third-largest providers of wireless local area network (WLAN) products and services for businesses.

“The proposed transaction between HPE and Juniper, if allowed to proceed, would further consolidate an already highly concentrated market — and leave U.S. enterprises facing two companies commanding over 70% of the market,” the complaint said, adding that Cisco Systems was the industry leader.

Many businesses and investors accused Biden regulatory agencies of antitrust overreach and were looking forward to a friendlier Trump administration.

Under Biden, the Federal Trade Commission sued to block a $24.6 billion merger between Kroger and Albertsons that would have been the largest grocery store merger in U.S. history. Two judges agreed with the FTC’s case, blocking the proposed deal in December.

In 2023, the Department of Justice, through the courts, forced American and JetBlue airlines to abandon their partnership in the northeast U.S., saying it would reduce competition and eventually cost consumers hundreds of millions of dollars a year. That partnership had the blessing of the Trump administration when it took effect in early 2021.

U.S. regulators also proposed last year to break up Google for maintaining an “abusive monopoly” through its market-dominate search engine, Chrome. Court hearings on Google’s punishment are scheduled to begin in April, with the judge aiming to issue a final decision before Labor Day. It’s unclear where the Trump administration stands on the case.

One merger that both Trump and Biden agreed shouldn’t go through is Nippon Steel’s proposed acquisition of U.S. Steel. Biden blocked the nearly $15 billion acquisition just before his term ended. The companies challenged that decision in a federal lawsuit early this year.

Trump has consistently voiced opposition to the deal, questioning why U.S. Steel would sell itself to a foreign company given the regime of new tariffs he has vowed.

Houston VC funding surged in 2024, fueled by major Q4 activity

by the numbers

The venture capital haul for Houston-area startups jumped 23 percent from 2023 to 2024, according to the latest PitchBook-NVCA Venture Monitor.

The fundraising total for startups in the region climbed from $1.49 billion in 2023 to $1.83 billion in 2024, PitchBook-NVCA Venture Monitor data shows.

Roughly half of the 2024 sum, $914.3 million, came in the fourth quarter. By comparison, Houston-area startups collected $291.3 million in VC during the fourth quarter of 2023.

Among the Houston-area startups contributing to the impressive VC total in the fourth quarter of 2024 was geothermal energy startup Fervo Energy. PitchBook attributes $634 million in fourth-quarter VC to Fervo, with fulfillment services company Cart.com at $50 million, and chemical manufacturing platform Mstack and superconducting wire manufacturer MetOx International at $40 million each.

Across the country, VC deals total $209 billion in 2024, compared with $162.2 billion in 2023. Nearly half (46 percent) of all VC funding in North America last year went to AI startups, PitchBook says. PitchBook’s lead VC analyst for the U.S., Kyle Stanford, says that AI “continues to be the story of the market.”

PitchBook forecasts a “moderately positive” 2025 for venture capital in the U.S.

“That does not mean that challenges are gone. Flat and down rounds will likely continue at higher paces than the market is accustomed to. More companies will likely shut down or fall out of the venture funding cycle,” says PitchBook. “However, both of those expectations are holdovers from 2021.”