Now is Houston's chance to create a modern economic cluster around health information and knowledge exchange. Photo by Dwight C. Andrews/Greater Houston Convention and Visitors Bureau

For the most part, Houstonians were either born here or came here in pursuit of economic opportunity — a job of some sort that brought us to Houston, either directly or indirectly. Economic opportunity is part of the DNA of this city. The breadth of opportunities our city affords people from all over our country and all over our world are seemingly endless.

Houston's growth in the 20th century was fueled by large, strategic, capital investments in our region's infrastructure. Railroads, Hobby and Bush airports, the Port of Houston, the Texas Medical Center, NASA's Johnson Space Center, the Astrodome, and our surrounding petrochemical facilities have all been enormous economic drivers of investment, jobs, and prosperity for our region.

We are all familiar with the names of our early city visionaries and leaders. Were it not for their vision and leadership, Houston would still be a backwater town on the bayou, 50 miles inland from the closest seaport. Many of these leaders of early Houston had both a legitimate self-interest and a sense of civic virtue that inspired them to give back to a community that nurtured their success. They strongly believed in building a better Houston both for themselves and for succeeding generations with a can-do community spirit. Much of their success in developing Houston into the international city of today was a result of employing innovative mechanisms for matching private and public funding.

Today, the Texas Medical Center located in Houston is comprised of over 50 hospitals, medical schools, and other institutions that are all dedicated to public health. The TMC itself has an intertwined and symbiotic relationship with Houston and is a case study in how public and private institutions can work together to create such a unique medical complex that has benefited so many — and will benefit so many more in the future.

The good news is that today most institutions and physicians have electronic medical records. The bad news is that there is still a problem sending a patient's data across the street to a different health care provider electronically. This problem is called a lack of "interoperability" of health records, and this remains an unsolved problem nationally.

Making the data available to enable access to the right information at the right time to deliver the right care, is a challenge for every health care community in the country. That unresolved national problem can be Houston's opportunity to offer solutions and to leverage one of its largest industries.

We can transform health care delivery by enabling access to comprehensive electronic patient information when and where needed. There is now a strong consensus that new health information and communication technologies have a critical role to play in building a twenty-first century health care system that is safe, effective, patient-centric and equitable.

Most consumers today carry a powerful computer in their pocket called a smartphone. These consumers, also known as patients, are the most underutilized member of the health care delivery team and the only constant factor in the delivery of care. Moreover, the patient should care most about effective delivery of care and outcome. Notably, the added cost to have the patient involved is essentially zero in relation to the cost of delivery so patients would get better care at less cost.

We grew up thinking that doctor knows best, but that was until Dr. Google showed up able to make virtual house calls, whenever, and on demand. How many industries have we witnessed that were disrupted by the Internet? All indications are that this transformation will increase is size, scope and speed and is set to disrupt the largest industry in the largest economy in the world. We are at the dawn of the consumerization of health care.

Because of the enormous social challenges, there is currently no community in the United States that is an economic cluster for health information technology and health information exchange. Houston has the resources to become that community and create a health care hi-tech economic cluster. This suggestion is no more bold than a proposal to dig the Ship Channel 50 miles, or creating the first domed stadium in the world, or landing a man on the surface of the moon and returning him safely to Earth.

Now is Houston's chance to create a modern economic cluster around health information and knowledge exchange. If we are successful, Houston can then not only legitimately claim to be the home of the largest medical center in the world, but also the best.

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Manfred Sternberg of Manfred Sternberg & Assoc. PC Attorneys at Law has practiced consumer and commercial law for over 30 years.

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Uber, Nuro and Lucid plan to roll out robotaxi services in Houston

autonomous autos

More autonomous vehicles are expected to hit the roads in Houston next year.

Ridesharing giant Uber announced that it plans to roll out its premium robotaxi service in the Bayou City in mid-2027. Houston will be Uber’s second planned market for the program, following the San Francisco Bay Area, where the program is expected to be rolled out later this year.

Uber, Nuro and Lucid Group will bring the robotaxi program to Houston with more markets planned for the future. Currently, Nuro is conducting autonomous on-road testing with safety operators in Houston. Testing includes simulation, closed-course testing and supervised public-road testing.

“Houston is a city Nuro knows well, and we’re excited to help bring this robotaxi service to the city through our partnership with Uber and Lucid,” Andrew Chapin, chief operating officer at Nuro, said in a news release. “Houston’s large, complex metro area is an ideal market for demonstrating how Nuro’s universal autonomy platform can generalize across different geographies and operating environments. We look forward to continued engagement with the community as we prepare to launch service in 2027.”

The fleet of 100 vehicles across California and Texas will feature Lucid Gravity EVs and future Lucid Midsize vehicles equipped with Nuro Driver technology, Nuro’s Level 4 universal autonomy platform, plus a redundant sensor suite with cameras, lidar, radar and a roof-mounted halo.

The vehicles will be owned and operated by Uber and its fleet partners and made available to riders through the Uber network, according to the company.

In addition to the fleet of autonomous vehicles, Uber also announced that it has secured a 50,000-square-foot depot facility and dedicated charging pitstop in Houston. The facility will allow Uber and its partners to control vehicle maintenance, repairs, charging, cleaning, and day-to-day operations.

“Houston marks an important next step in our partnership with Lucid and Nuro as we expand autonomous mobility to more riders throughout the world,” Sarfraz Maredia, global head of autonomous mobility & delivery at Uber, added in the release. “Together, we’re combining best-in-class vehicle and autonomy technology with Uber’s scale, fleet operations expertise, and infrastructure capabilities to build a service that can grow across dozens of markets in the years ahead.”

Waymo launched its autonomous vehicle program in Houston in February.

The company later suspended its driverless car services in Houston, other major Texas cities, and Atlanta, after one of its vehicles was stranded by flooding during heavy rains. However, according to the Houston Chronicle, the fleet has resumed activity in Houston and is fully active.

Houston fintech company closes $7M funding round

fintech funding

Houston-based fintech company Receipts Depositary Corporation has closed a $7 million oversubscribed funding round and plans to scale.

The round was led by Austin-based LiveOak Ventures, with participation from Hivemind Capital, Onigiri Capital, OTC Markets Group, GTS, and Redbeard Ventures, according to a release from RDC.

RDC's platform issues depositary receipts (DRs) to qualified investors on digital and alternative assets, making it easier for investors to buy and trade hard-to-access and less traditional assets. Currently, the company offers DRs for cryptocurrencies including Bitcoin, Ethereum, Solana and XRP.

RDC says the new funding will allow it to launch new DR products across a wider range of asset categories, potentially including commodities. Additionally, it plans to grow its relationships with "banks, broker-dealers, market makers, custodians and exchange partners" and add to its product, operations, technology, and commercial functions teams. The company is actively hiring, according to a press release.

“Depositary Receipts are trusted, regulated capital markets products which RDC is bringing to an entirely new universe of assets, from commodities to digital assets, that have historically been out of reach of traditional securities markets," Krishna Srinivasan, founding partner at LiveOak Ventures, said the release. “The team's depth of experience in the DR business on a global scale, combined with the broad institutional validation from co-investors, anchor customers, and strategic partners across asset classes, makes RDC uniquely positioned to define this category. We're proud to lead this round and support the company as it scales.”

RDC was founded in 2022 by three Citibank alumni: CEO Ankit Mehta, CEO Bryant Kim and COO Ishaan Narain. It began offering its first DRs for Bitcoin in 2024.

“This funding round is a strong validation of what we’re building at RDC and the growing demand for modernized Depositary Receipt infrastructure,” Mehta added in the release. “With the support of LiveOak Ventures and our investor partners, we are accelerating development across our DR platform expanding our market reach, and building the team needed to support the next generation of DR product

Houston space co. adds local colleges to university alliance

space schools

Houston’s Axiom Space has added 26 new members to its University Alliance—including two from Houston—to support the next generation of space exploration.

Engineers, researchers and students from the partnering universities will be dedicated to advancing microgravity research, technology development and commercial innovation in low-Earth orbit.

Rice University and the University of Houston are among the new colleges to join the alliance, which launched with 15 members last year. The University of Texas at Austin and the University of Texas at El Paso have also joined, in addition to international institutions in Europe, Asia and Australia, and others from around the U.S. See full list here.

“Through the University Alliance, Axiom Space is uniting the international research community driven to enable human progress,” Lucie Low, Axiom Space chief science officer, said in a news release. “Together, alliance members are taking the initiative to ensure microgravity research benefits everyone on Earth and our shared goals fulfill a scientific purpose to advance civilization.”

Axiom is building the world’s first commercial space station, known as Axiom Station. The University Alliance “will support and advance space science during the transition from government-led to commercially owned and operated space stations,” the company said in a release. Partnering universities will contribute to the research community by participating in international collaborative scientific initiatives, identifying future research, and bolstering strategic positions in the commercial orbit research field.

Recently, the Rice Space Institute was also selected to lead the U.S. Space Force Strategic Institute 4 in addition to other space-centric partnerships.

“We’re excited to bring our expertise to this global alliance and to benefit from the deep expertise of our partners,” David Alexander, professor of physics and astronomy and director of the Rice Space Institute, said in a news release. “Space is truly a collaborative and global endeavor. Alliances like these are key to progress.”

UH and NASA’s Johnson Space Center expanded their collaboration in 2022. In 2024, UH launched its NASA MIRO Inflatable Deployable Environments and Adaptive Space Systems Center (IDEAS2) via a five-year, $5 million grant.

“As a major public research university located in Space City, the University of Houston has a unique opportunity and responsibility to help lead the future of space innovation, and our participation in Axiom Space’s University Alliance represents a major step forward in that mission,” Karolos Grigoriadis, the Hugh Roy and Lillie Cranz Cullen Endowed Professor and chair of mechanical and aerospace engineering at UH, added in a separate release.

Meanwhile, Axiom recently tacked on an additional $175 million to a previously announced capital raise, bringing the oversubscribed round to a total of more than $525 million. It also has announced plans to launch Swiss and Japanese subsidiaries.