Houston tech company's venture studio names new partner and cohort

developing tech

The Softeq Venture Studio has named 14 startups — two from Houston — to its third cohort. Photo via Getty Images

A Houston-based tech company has named a new limited partner and 14 new startups to its venture arm.

Softeq Development Corporation announced its third group of early-stage startups to join the Softeq Venture Studio, which is geared at helping its resident startups quickly develop their technology and build their businesses. With 14 startups, the summer 2022 cohort is the largest yet and brings the total portfolio to 27 companies. Additionally, the $40 million Softeq Venture Fund welcomed Royal Eagle Capital Partners, a Houston-based investment firm, as a limited partner with its $3 million commitment.

“We are thrilled to see how much the Softeq Venture Studio has grown since 2021,” says Christopher A. Howard, founder and CEO of Softeq, in a news release. “We’re also pleased to welcome Royal Eagle Capital Partners as an investment partner in our Venture Fund, which allowed us to achieve more than 50 percent of our funding goal in just five months. We look forward to building on this partnership and growing Softeq in North America, Latin America, and beyond.”

Softeq is also celebrating a recent expansion into Latin America and staffing the new regional office with 30 engineers. The company has plans to grow to 150 employees in the region over the next year.

“The Softeq Venture Fund presents a unique opportunity to diversify our holdings within the alternative investments space. The concept of risk mitigation in venture investments resonates with investment firms globally, and we are excited to be working with Softeq and the amazing talent of their early-stage companies,” said Mark Valdez — co-founder, managing partner, and chief investment officer at Royal Eagle Capital Partners — in the release. "The emphasis on growth in Latin America by Softeq was a driving factor for our commitment and will open the door to new opportunities in Mexico and beyond.”

The Q2 2022 cohort is from across the United States with even some international representatives. The companies are using tech to solve problems across industries from human resources and wellness to med-tech and sports-tech and more. Applications are open for the next cohort online.

Here are the 14 companies making up the cohort:

  • Concerto Commerce, based in Southlake, Texas, is an eCommerce platform that combines automated catalog management and payment processing to streamline reseller operations.
  • New York City-based Dailyhuman is a software platform designed to help companies retain employees by fostering safety, trust, and connection in the workplace.
  • Headquartered in Houston, FrakBlock is a blockchain-based predictive tool providing financial products for the adulting process of young teens in Latin America.
  • High Tech Ranch Solutions, from The Woodlands, is a digital ranch management system designed by ranchers to bring monitoring to the palm of your hand.
  • Santa Barbara, California-based Homesavi is a platform that helps first-time homebuyers understand the home-buying process and guides them to their dream home.
  • Louder.ai is an advertising platform that revolutionizes how people can support causes they care about and see the impact of their donations.
  • Mallard Bay, founded out of Louisiana State University, is a marketplace for guided hunting and fishing trips that streamlines booking and administrative processes for consumers and outfitters. The company won Softeq's prize at the Rice Business Plan Competition.
  • RYN is a social platform to help families in the Middle East find and employ household migrant workers providing better working and living conditions.
  • Delaware-based SAmAS Gamify is building a gamified psychometric assessment platform that helps employers evaluate and select the most qualified candidates.
  • Founded in North Carolina, ShopAgain is an AI-powered customer retention platform redefining personalized customer experiences for eCommerce businesses.
  • Houston-based TeeMates Golf is a mobile app that connects golfers worldwide using social media, tee time linking, and offers a merchandise marketplace.
  • ViiT Health, based in Mexico, is a non-invasive technology to help people measure and monitor blood sugar levels more accurately without a finger prick lancet.
  • WellnessWins is a CRM to streamline intake processes for private therapy clinics to reduce waitlists and increase access to mental health care.
  • WorkHint helps retail companies manage on-demand hourly talent to increase flexibility, reduce cost, and generate actionable data-driven insights.
The 22nd annual Rice Business Plan Competition named its winners across life science, clean energy, software, and more. Photo via Rice University/Twitter

Rice University competition doles out nearly $2M in cash prizes to student startups

winner, winner

Rice University brought back its international student startup competition to its in-person format in a big way, giving out nearly $2 million in investment plus thousands more in-kind prizes to over a dozen winning teams.

The 2022 Rice Business Plan Competition took place April 7-9 on campus, ending in a banquet and awards presentation at the Marriott Marquis on Saturday. Earlier this year, Rice announced the 42 student teams competing for the awards. The student competitors represent 31 universities — including three from European universities. The 42 teams were narrowed down from over 400 applicants and divided into five categories: energy, cleantech and sustainability; life sciences and health care solutions; consumer products and services; hard tech; and digital enterprise.

Over 250 judges, mentors, and investors were involved in the competition, naming seven finalists — each receiving thousands of dollars in investment funding.

Here were this year's finalists — and what they walked away with:

  • LIDROTEC from RWTH Aachen University, a cutting-edge machine that can better cut microchips for the semiconductor industry, is the big winner this year, taking home the $350,000 GOOSE Capital Investment Grand Prize. The team also won: the Softeq Venture Studio Prize ($50,000 cash, $75,000 in-kind), the TiE Houston Angels Investment Prize ($100,000), RBPC Alumnus, Thomas Healy, Investment Prize ($50,000), the Eagle Investors Prise ($5,000), Best Elevator Pitch - Hard Tech ($500), and RG Advisors CFO Consulting In-Kind Prize. The company also received a $6,700 in-kind prize from BakerBotts and an in-kind $25,000 from RG Advisory. The company's prize totaled over $682,200 in investment and in-kind awards.
  • The second place winner was Hoth Intelligence of University of Pittsburgh, an artificial intelligence platform for health care providers, securing a $100,000 investment prize. The company also won the Owl Investment Prize ($155,000), the HAN Investment Prize ($100,000), and the Pearland EDC Spirit of Entrepreneurship Prize ($25,000). The company also received a a $6,700 in-kind prize from BakerBotts. The company's prize totaled $386,700 in investment awards.
  • Invitris from the Technical University of Munich — a synthetic biology startup targeting antibiotic-resistant bacteria — won third place, which came with a $50,000 award. The team also won the nCourage Courageous Women Entrepreneur Investment Prize ($40,000), the Best Elevator Pitch - Life Science award ($500), and a $6,700 in-kind prize from BakerBotts. bringing its total earnings to $97,200.
  • Winning fourth place and a $5,000 prize was LymphaSense of Johns Hopkins, a medical device startup that's created a wearable lymphedema detection device for at-risk patients. The company also won the TMC Innovation Healthcare Investment Prize ($250,000 and entry into the TMC accelerator) and the Nixon Institute Prize ($3,000). The company's total winnings was $258,000.
  • INIA Biosciences from Boston University — a health tech startup that's created a bioelectric wearable device for kidney donor recipients — won fifth place and $5,000 in prize money.
  • The sixth place winner was Bold Move Beverages, a canned coffee cocktail company from the University of Texas at Austin, which won $5,000 for placing sixth and $10,000 from the RBPC Alumnus, Thomas Healy, Investment Prize. The company won a total of $15,000.
  • Lastly for the finalists, Anise Health of Harvard University, a digital health startups with an inclusive, data-driven platform for culturally-adapted mental health treatment, won seventh place and the $5,000 prize. The company also won first place in the wildcard round, which came with a $2,000 Edward H. Molter Memorial Prize. Anise walked away with $7,000 total.
Several companies won monetary prizes outside of the seven finalists. Here's what other student-founded companies in the competition won:
  • Mallard Bay Outdoors from Louisiana State University, an online marketplace for securely booking outdoor activities, won $216,500 in cash and in-kind prizes. The company won the Owl Investment Prize ($65,000), the Softeq Venture Studio Prize ($50,000 cash, $75,000 in-kind), the RBPC Alumnus, Thomas Healy, Investment Prize ($25,000), the Anbarci Family Company Showcase Prize ($1,000), and the Best Elevator Pitch - Consumer ($500).
  • TransCrypts from the University of Toronto and Harvard University, a secure blockchain platform for sharing employee documents, won two awards — the Owl Investment Prize ($50,000) and the Best Elevator Pitch - Digital ($500) — for a total of $50,500 in prizes.
  • Advanced Optronics of Carnegie Mellon University, a health tech company that develops smart sensors to improve patient outcomes, won two awards — the Pediatric Device Prize ($25,000) and the OFW Law FDA Regulatory Strategy In-Kind Prize — for a total of more than $25,000 in cash and in-kind prizes.
  • EpiSLS — a novel medical device startup that's automating in-vivo allergy testing — of the University of Michigan won the $25,000 Pediatric Device Prize.
  • Farm-to-closet women's apparel brand Pareto of Stanford University won the $10,000 nCourage Courageous Women Entrepreneur Investment Prize.
  • EpiFresh of Rice University, which developed a protective produce coating material that reduces food waste, won three awards for a total of $27,000. The company won the Energy, Cleantech & Sustainability Prize ($25,000), the Anbarci Family Company Showcase Prize ($1,000), and the Overall Best Elevator Pitch ($1,000).
  • Mantel of MIT, which is developing a high temperature liquid phase carbon capture material, won two awards for a total of $28,000 in prizes. The company won the New Climate Ventures Investment Prize ($25,000) and the DK Innovation Prize ($3,000).
  • Invictus BCI — a health tech startup building a noninvasive brain computer interface tools — from MIT won the the RBPC Alumni Network NABACO Prize for a total of $10,000 in winnings.
  • Health care fintech solution Woobie of Brigham Young University won the $25,000 Urban Capital Network Investment Prize.
  • KLAW Industries of Binghamton University, which has designed a way to recycle glass into concrete, won the Anbarci Family Company Showcase Prize ($1,000) and the Best Elevator Pitch - Energy ($500) prizes for a total of $1,500 in awards.
  • Acorn Genetics of Northwestern University, which is better optimizing genetic data for patients, won second place for the wildcard round, which came with the Edward H. Molter Memorial Prize ($1,750).
  • AI-powered stroke prevention platform PLAKK from McGill University won third place for the wildcard round, which came with the Edward H. Molter Memorial Prize ($1,500).
These startups join the ranks of 269 successful RBPC alumni companies — with 50 exits, five IPOs, and over $4.6 billion raised. RBPC was established in 2001.
The Rice Business Plan Competition is back in person this year, and these are the 42 teams that will go head to head for investments and prizes. Photo courtesy of Rice University

Rice University's student startup competition names 42 teams to compete for over $1 million in prizes

ready to pitch

The Rice Alliance for Technology and Entrepreneurship and the Jones Graduate School of Business have announced the 42 student teams that will compete in the 2022 Rice Business Plan Competition, which returns to an in-person format on the Rice University campus in April.

Of the teams competing for more than $1 million in prizes and funding in this year's competition, six hail from Texas — two teams each from Rice University, University of Texas at Austin, and Texas A&M University. The student competitors represent 31 universities — including three from European universities. The 42 teams were narrowed down from over 400 applicants and divided into five categories: energy, cleantech and sustainability; life sciences and health care solutions; consumer products and services; hard tech; and digital enterprise.

This is the first in-person RBPC since 2019, and the university is ready to bring together the entrepreneurs and a community of over 250 judges, mentors, and investors to the competition.

“As we come out on the other side of a long and challenging two years, we're feeling a sense of renewal and energy as we look to the future and finding inspiration from the next generation of entrepreneurs who are building a better world,” says Catherine Santamaria, director of the RBPC, in a news release.

“This year's competition celebrates student founders with a strong sense of determination — founders who are ready to adapt, build and grow companies that can change the future,” she continues. “We hope their participation will provide guidance and inspiration for our community.”

According to a news release, this year's RBPC Qualifier Competition, which narrowed down Rice's student teams that will compete in the official competition, saw the largest number of applicants, judges, and participants in the competition’s history. The Rice Alliance awarded a total of $5,000 in cash prizes to the top three teams from the internal qualifier: EpiFresh, Green Room and Anvil Diagnostics. From those three, Rice teams EpiFresh and Green Room received invitations to compete in the 2022 RBPC..

The full list of student teams that will be competing April 7 to 9 this year include:

  • Acorn Genetics from Northwestern University
  • Advanced Optronics from Carnegie Mellon University
  • Aethero Space from University of Missouri
  • AImirr from University of Chicago
  • AiroSolve from UCLA
  • Algeon Materials from UC San Diego
  • Anise Health from Harvard University
  • Beyond Silicon from Arizona State University
  • Bold Move Beverages from University of Texas at Austin
  • Diamante from University of Verona
  • EarthEn from Arizona State University
  • Empower Sleep from University of Pennsylvania
  • EpiFresh from Rice University
  • EpiSLS from University of Michigan
  • Green Room from Rice University
  • Horizon Health Solutions from University of Arkansas
  • Hoth Intelligence from Thomas Jefferson University
  • INIA Biosciences from Boston University
  • Invictus BCI from MIT
  • Invitris from Technical University of Munich (TUM)
  • KLAW Industries from Binghamton University
  • LIDROTEC from RWTH Aachen
  • Locus Lock from University of Texas at Austin
  • LymphaSense from Johns Hopkins University
  • Mallard Bay Outdoors from Louisiana State University
  • Mantel from MIT
  • Olera from Texas A&M University
  • OpenCell AI from Weill Cornell Medicine
  • OraFay from UCLA
  • Pareto from Stanford University
  • Photonect Interconnect Solutions from University of Rochester
  • PLAKK from McGill University
  • PneuTech from Johns Hopkins University
  • Rola from UC San Diego
  • RotorX from Georgia Tech
  • SimulatED from Carnegie Mellon University
  • SuChef from University of Pennsylvania
  • Symetric Finance from Fairfield University
  • Teale from Texas A&M University
  • Team Real Talk from University at Buffalo
  • TransCrypts from Harvard University
  • Woobie from Brigham Young University
Last year's awards had 54 student teams competing virtually, with over $1.4 million in cash and prizes awarded. Throughout RBPC's history, competitors have gone onto raise more than $3.57 billion in capital and more than 259 RBPC alumni have successfully launched their ventures. Forty RBPC startups that have had successful exits through acquisitions or trading on a public market, per the news release.
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Rice leads Texas colleges on LinkedIn's first-ever career success ranking

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Houston’s Rice University leads the Texas schools in LinkedIn’s first-ever ranking of the 50 best U.S. colleges for long-term career success.

Rice appears at No. 31 in the ranking. Southern Methodist University, located in the Dallas suburb of University Park, lands at No. 37 and the University of Texas at Austin shows up at No. 46.

LinkedIn, a career networking site, says the ranking is based on exclusive data about alumni, such as job placement rates, advancement into senior-level jobs, post-graduate formation of startups, and pre-graduation internships.

“A four-year bachelor’s degree is a significant investment of time and money, especially as tuition costs rise and the job market shifts,” the LinkedIn report says. “For millions of Americans, the return on investment is worth it. Those who earn the degree can see an enduring impact on their earning potential and overall career trajectory.”

Where someone earns a degree can have an even bigger impact, according to LinkedIn, as graduates of top programs often land jobs more rapidly, build strong professional networks, and rise to leadership roles more quickly.

“Long-term success isn’t just about landing a great first job; it’s about sustained career growth and opportunity years after graduation,” Andrew Seaman, senior editor-at-large for jobs and career development at LinkedIn News, told Fortune. “For this list, that means looking at how well a school sets alumni up for the long haul.”

Here’s a breakdown of some of the data about the three Texas schools on the LinkedIn list:

Rice University

  • Top industries of graduates: Technology, business consulting, higher education
  • Top post-graduation destinations: Houston, San Francisco Bay Area, New York City
  • Notable skills: MATLAB programming language, engineering design, data science

Southern Methodist University

  • Top industries of graduates: Financial services, business consulting
  • Top post-graduation destinations: Dallas, New York City, Los Angeles
  • Most notable skills: AMPL programming language, Avid iNews content creation system, data science

University of Texas at Austin

  • Top industries of graduates: Technology, medical practices, advertising
  • Top post-graduation destinations: Austin, Dallas, Houston
  • Most notable skills: SOLIDWORKS computer-aided design software, architecture, Avid Media Composer video editing software

TMC lands $3M grant to launch cancer device accelerator

cancer funding

A new business accelerator at Houston’s Texas Medical Center has received a nearly $3 million grant from the Cancer Prevention and Research Institute of Texas.

The CPRIT grant, awarded to the Texas Medical Center Foundation, will help launch the Accelerator for Cancer Medical Devices. The accelerator will support emerging innovators in developing prototypes for cancer-related medical devices and advancing them from prototype to clinical trials.

“The translation of new cancer-focused precision medical devices, often the width of a human hair, creates the opportunity to develop novel treatments for cancer patients,” the accelerator posted on the CPRIT website.

Scientist, consultant, and entrepreneur Jason Sakamoto, associate director of the TMC Center for Device Innovation, will oversee the accelerator. TMC officials say the accelerator builds on the success of TMC Innovation’s Accelerator for Cancer Therapeutics.

Each participant in the Accelerator for Cancer Medical Devices program will graduate with a device prototype, a business plan, and a “solid foundation” in preclinical and clinical strategies, TMC says. Participants will benefit from “robust support” provided by the TMC ecosystem, according to the medical center, and “will foster innovation into impactful and life-changing cancer patient solutions in Texas and beyond.”

In all, CPRIT recently awarded $27 million in grants for cancer research. That includes $18 million to attract top cancer researchers to Texas. Houston institutions received $4 million for recruitment:

  • $2 million to the University of Texas MD Anderson Cancer Center to recruit Rodrigo Romero from Memorial Sloan Kettering Cancer Center in New York City
  • $2 million to MD Anderson to recruit Eric Gardner from Weill Cornell Medicine in New York City

A $1 million grant also went to Baylor College of Medicine researcher Dr. Akiva Diamond. He is an assistant professor at the medical college and is affiliated with Baylor’s Dan L. Duncan Comprehensive Cancer Center.

Musk’s SpaceX spends $17B to acquire spectrum licenses from EchoStar

SpaceX Update

Elon Musk’s SpaceX has reached a deal worth about $17 billion with EchoStar for spectrum licenses that it will use to beef up its Starlink satellite network.

The deal for EchoStar’s AWS-4 and H-block spectrum licenses includes up to $8.5 billion in cash and up to $8.5 billion in SpaceX stock. SpaceX will make approximately $2 billion in cash interest payments on EchoStar debt through November 2027.

SpaceX and EchoStar will enter into a long-term commercial agreement which will allow EchoStar’s Boost Mobile subscribers to access SpaceX’s next generation Starlink Direct to Cell service.

Shares of EchoStar surged 19% before the market opened Monday.

Last month AT&T said that it will spend $23 billion to acquire wireless spectrum licenses from EchoStar, a significant expansion of its low- and mid-band coverage networks.

EchoStar said that it anticipates that the AT&T deal and the SpaceX transaction will resolve recent inquiries from the Federal Communications Commission about the rollout of 5G technology in the U.S. The FCC had been calling for hearings on whether Echostar was properly using the spectrum that it is now selling, and its efforts to make 5G more available to communities.

EchoStar said Monday that it will use the proceeds from the sale partly to pay down debt. Current operations of Dish TV, Sling and Hughes will not be impacted, the company said.

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