Rice's undergraduate business school receives a 'historic' donation

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The university is not disclosing the amount of the donation. Photo via Rice University

Following a “generous philanthropic gift” by Farid and Asha Virani, the undergraduate business program at Rice University will be named after the family. The building where the business program is housed, McNair Hall, will remain unchanged.

“We are profoundly grateful to Farid and Asha Virani for their extraordinary gift, which will transform our undergraduate business education,” Rice president Reginald DesRoches said in a statement. “Their success and commitment to excellence inspire our students, and their generosity will serve as a lasting testament to what can be accomplished through vision and determination.”

Rice University declined to disclose the size of donation that has led to the creation of the Virani Undergraduate School of Business on the request of the Virani family to maintain privacy, saying only that the amount is historic. The business school currently serves roughly 300 undergrads.

Dr. Asha Virani is a proud Rice alumna who graduated in 1989. Her husband, Farid, is the founder and CEO of Prime Communications, a wildly successful AT&T retailer that started with a single store in Baybrook Mall and has grown to be the largest such retailer in the nation. Their son, Faraz, graduated from Rice in 2021 after studying sports management.

“We are incredibly excited to support Rice Business, as we believe in the transformative power of education. This contribution will play a pivotal role in preparing the next generation of business leaders and entrepreneurs to tackle the challenges and seize the future opportunities — not just for our city, but for our state and our country,” Farid Virani said.

“Our vision is to foster a culture of curious and compassionate lifelong learners who will lead with a strong ethical orientation and intellectual humility,” Asha Virani said.

A new associate dean position will be created to oversee the new business school, and a national talent search is underway to fill the job. The gift will help expand the current business undergraduate offerings, including new major focuses in areas like healthcare and artificial intelligence.

Rice launched its undergraduate business program in 2021. Last year, the university announced its plans to expand its business school, a project that is currently underway.

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This article originally ran on CultureMap.

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The new building, which will be integrated with McNair Hall at Rice University, will deliver in 2026. Rendering via Rice.edu

Houston university breaks ground on $54.5M project to expand business school

coming soon

Rice University broke ground last week on an innovative $54.5 million building for the Jones Graduate School of Business that is designed to be built around the current structure and also integrate with McNair Hall.

The 112,000-square-foot building aims to support Rice Business as it continues to grow while centralizing the university's new undergraduate business education and entrepreneurship programs. It's slated to be completed by spring 2026.

“We are energized by the momentum of our innovative new programs, the addition of new faculty and students and a fresh outlook on the future,” Peter Rodriguez, dean of the Jones Graduate School of Business, says in a statement. “Our commitment is to attract more talented and innovative students, faculty and staff to Rice, who will further improve our programs and research capabilities. This wonderful new facility is critical to fulfilling that commitment.”

The 112,000-square-foot building broke ground last week. Photo via Rice.edu

The building will feature two 120-seat classrooms, two 65-seat classrooms and breakout rooms as well as a dining area on the first floor.

It will reflect Rice's traditional brick facade while enclosing the Woodson Courtyard to create a large atrium. A new triple-heigh pathway called The Walk will connect the area to Rice's new West Commons.

Rodriguez previously shared about his vision for expanding Rice Business on the Houston Innovators Podcast.

Rice's Architecture Research Office is leading the design of the project. Houston-based Kirksey Architecture serves as the project’s executive architect.

The university is seeking to fundraise $40 million for the project. According to Rice, the university's business programs saw a 50 percent increase in students and a 41 percent increase in faculty to support new programs in the last 10 years.

Rice launched its undergraduate business program in 2021. According to the fundraising website for the building, Rice Business has seen a 79 increase in enrollment and business became the second most popular major for first-year students, after computer science, since the program began .

Rice's Architecture Research Office is leading the design of the project. Houston-based Kirksey Architecture serves as the project’s executive architect. Rendering via Rice.edu

“This remarkable new building embodies the evolution of Rice Business over the past five decades and its commitment to equipping graduates who are not only integral to organizations around the globe but are also poised to lead them,” Rice President Reginald DesRoches says in a statement. “We’re committed to offering top-tier facilities that complement our top-ranked academic programs, attracting the best students, faculty and staff to our campus.”

At the start of the academic year, Rice also opened The Ralph S. O’Connor Building for Engineering and Science, its largest core campus research facility. The 250,000-square-foot building is the new home for four key research areas at Rice: advanced materials, quantum science and computing, urban research and innovation, and the energy transition.In October, Rice and Houston Methodist teamed up to open the new Center for Human Performance.

deleteSneak Peek: The New Rice Business Buildingwww.youtube.com

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Houston-founded startup raises $1.2M and moves headquarters to Detroit

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Houston-founded ChurchSpace, known as the Airbnb for churches, has formed an official partnership with the City of Detroit and will relocate its headquarters.

The announcements come as the company successfully closed a $1.2 million oversubscribed funding round. The round was led by California-based Black Ops Ventures, with participation from Michigan Rise and Dug Song of Minor Capital, who is also the founder of the Song Foundation, another Michigan-based organization.

"This raise is more than a business milestone—it's a testament to what happens when strategy meets faith. In today's climate, raising capital takes grit and resilience—especially without deep networks or traditional access. By God's grace, doors have opened, and our mission is clearer than ever. Now, with capital in hand, we're building boldly toward a future where the Church isn't just surviving—but leading community transformation," Emmanuel Brown, co-founder and CEO of ChurchSpace, said in a statement.

In Detroit, ChurchSpace plans to activate underutilized church campuses as micro-logistics spaces for food distribution and retail partnerships, as well as last-mile delivery centers. To kick off its relocation, ChurchSpace will host a Detroit Pastor Meetup on July 19.

"We welcome ChurchSpace's investment in Detroit and the jobs and innovation it will bring," Detroit Mayor Mike Duggan added in the release. "Our faith community has long been a critical backbone of our neighborhoods. Through ChurchSpace's groundbreaking work, they will continue to be anchors of opportunity and resilience in our city's future."

ChurchSpace was originally founded to convert underutilized church real estate into event, meeting and commercial kitchen space to boost revenue and relieve financial burden while remaining compliant with IRS regulations for non-profits. The company participated in the inaugural cohort of the AWS Impact Accelerator for Black Founders, which included a pre-seed fundraising campaign and a $125,000 equity injection from Amazon in 2022. It was also one of two Houston companies to receive $100,000 as part of the Google for Startups Black Founders Fund that same year.

The company reports that its platform in Texas has generated up to $100,000 annually in new revenue that was reinvested into church ministries, food programs and community initiatives.

"What we built in Houston was more than technology—it was transformation. We expanded our purpose and packaged proven strategies to help churches thrive, transform communities, and even combat food insecurity," Day Edwards, co-founder and president of ChurchSpace, added in the statement. "Now, with prayer and the support of our team and investors, we're bringing that same impact to Detroit—to help churches, communities, and small businesses redefine pulpits and rediscover communal possibilities."

Houston space tech co. lands millions and more innovation news to know

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Editor's note: It's time to recap the top innovation news for the first half of May 2025. Our five most-read stories from May 1-15 include updates from Intuitive Machines and The Ion. Plus, driverless trucks hit the road from Houston to Dallas. Get all of the details below.

1. Houston space tech leader lands up to $10 million for Earth re-entry vehicle and lab

The Texas Space Commission has selected Houston's Intuitive Machines to develop a vehicle that will return lunar samples to Earth, along with an orbital fabrication lab. Photo courtesy Intuitive Machines.

Houston-based space technology, infrastructure, and services company Intuitive Machines has been awarded a state grant of up to $10 million to help develop an Earth re-entry vehicle and in-space biomanufacturing lab. The Texas Space Commission approved the grant, which is coming from the state’s Space Exploration and Research Fund. Intuitive Machines says the money will support its “critical risk-reduction platform” for returning lunar samples to Earth. The funding will go toward an early 12-month phase of the project. Continue reading.

2. 9 can't-miss Houston business and innovation events for May

Don't miss these May events — from an investor activation series to a crawfish cook-off. Photo courtesy Greentown Labs.

There's a lot to learn this month at events around Houston. Hear from AI and energy experts or gain insights into how to tap into funding at informative panels or sessions. Continue reading.

3. Autonomous truck company rolls out driverless Houston-Dallas route

Aurora began regular driverless deliveries between Houston and Dallas on April 27. Photo courtesy Aurora.

Houston is helping drive the evolution of self-driving freight trucks. In October, Aurora opened a more than 90,000-square-foot terminal at a Fallbrook Drive logistics hub in northwest Houston to support the launch of its first “lane” for driverless trucks—a Houston-to-Dallas route on the Interstate 45 corridor. Aurora opened its Dallas-area terminal in April and the company began regular driverless customer deliveries between the two Texas cities on April 27. Continue reading.

4. Texas-based 'DoorDash for laundry' startup tumbles into Houston market

The service has been a smash success in Austin. Courtesy photo

Laundry may seem like an endless task that piles up, but a new service offers a solution to overwhelmed Houston families. NoScrubs, an Austin-based home laundry pickup service has just expanded to Houston. Described by the company as "DoorDash — but for laundry," they wash customer's clothes at local laundromats and return them the same day, folded and ready to be put away. The service took off like gangbusters in Austin, making an expansion to the state's largest city an obvious choice. Continue reading.

5. New energy innovation and coworking spaces open at the Ion

The Oxy Innovation Center has opened at the Ion and Industrious' coworking space launches soon. Photo courtesy of The Ion

Houston-based Occidental officially opened its new Oxy Innovation Center with a ribbon cutting at the Ion. The opening reflects Oxy and the Ion's "shared commitment to advancing technology and accelerating a lower-carbon future," according to an announcement from the Ion. Oxy, which was named a corporate partner of the Ion in 2023, now has nearly 6,500 square feet on the fourth floor of the Ion. Rice University and the Rice Real Estate Company announced the lease of the additional space last year, along with agreements with Fathom Fund and Activate. Continue reading.

Houston healthtech leader launches clinical trial for innovative anxiety-treating device

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Houston-based Nexalin Technology’s proprietary neurostimulation device will move forward with a new clinical trial evaluating its treatment of anxiety disorders and chronic insomnia in Brazil.

The first of Nexalin’s Gen-2 15-milliamp neurostimulation devices have been shipped to São Paulo, Brazil, and the study will be conducted at the Instituto de Psiquiatria university hospital (IPq-HCFMUSP). The shipments aim to support the launch of a Phase II clinical trial in adult patients suffering from anxiety and insomnia, according to a news release.

“Brazil is an important emerging market for mental health innovation, and this collaboration marks our first IRB-approved study in the region,” Mike White, CEO of Nexalin, said in the release.

The study will be led by Dr. Andre Russowsky Brunoni, who specializes in neuromodulation and interventional psychiatry. He currently serves as director of the interventional psychiatry division at IPq-HCFMUSP and this summer will join UT Southwestern in Dallas and its Peter O’Donnell Jr. Brain Institute as a professor of psychiatry.

The Phase II study plans to enroll 30 adults in São Paulo and assess the efficacy of Nexalin’s non-invasive deep intracranial frequency stimulation (DIFS™) of the brain in reducing anxiety symptoms and improving sleep quality, according to the company. Using the Hamilton Anxiety Rating Scale (HAM-A), the trial’s goal is a reduction in anxiety symptoms, and assessments of sleep onset latency, total sleep time, overall sleep quality, depressive symptoms and clinical impression of improvement. The company plans to share results in a peer-reviewed scientific journal.

“Anxiety and insomnia are very common conditions that often occur together and cause significant distress,” Brunoni added in the news release. “In this study, we are testing a new, non-invasive brain stimulation technology that has shown promising results in recent research. Our goal is to offer a safe, painless, and accessible alternative to improve people’s well being and sleep quality.”

The Nexalin Gen-2 15-milliamp neurostimulation device has been approved in China, Brazil, and Oman.

The company also enrolled the first patients in its clinical trial at the University of California, San Diego, in collaboration with the VA San Diego Healthcare System for its Nexalin HALO, which looks to treat mild traumatic brain injury and post-traumatic stress disorder in military personnel and the civilian population. It also recently raised $5 million through a public stock offering. Read more here.

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