Houston student startup competition doles out record-breaking more than $3M in prizes

show me the money

Seventeen of the RBPC student teams walked away with investment prizes this year. Photo courtesy of Rice

Over the weekend, Houston hosted what is known as the world’s largest and richest intercollegiate student startup competition, and a Texas team took the overall win and over $3 million in investment prizes were given out at the annual banquet.

The 2023 Rice Business Plan Competition was held May 11-13 and included mentoring, pitching, and networking for the 42 student teams with over 350 judges before culminating in over 80 prizes being announced. The $3.4 million in investment and in-kind prizes marks the largest yet for the 23-year-old competition.

"Judges told us that the quality of the startups at this year’s competition was the best ever,” says Catherine Santamaria, director of the RBPC, in the news release. “One judge went so far as to say that every startup this year was worthy of investment.”

Over 450 startups applied to the competition, and the 42 startups selected hailed from 35 universities from five countries. There were five categories: energy, clean tech and sustainability; life sciences and health care solutions; consumer products and services; hard tech; and digital enterprise. Based on the judges scores, seven startups reached the finals, and this year, three Texas teams made the finals, with two being from Rice University.

All 42 companies were eligible for investment or in-kind prizes, and, even though $1.75 million in prizes was expected to be awarded, some of this year's investors doubled — or even tripled — down on investment awards. While the finalists walked away with various in-kind prizes too, here's a round up of the investment prizes each startup won at the awards.

Zaymo, Brigham Young University — $885,000

Zaymo, a tool for e-commerce brands that embeds the shopping experience within customers’ email, won the most amount of money at the awards ceremony. The company won third place and a $50,000 Investment Prize sponsored by David Anderson, Jon Finger, Anderson Family Fund, Finger Interests, Greg Novak and Tracy Druce. Zaymo also won the following awards:

$200,000 OWL Investment Prize
$100,000 Houston Angel Network Investment Prize
$500,000 Softeq Venture Fund Prize
$15,000 Eagle Investors Prize
$20,000 Novak Druce Carroll Investment Prize

Boston Quantum, Massachusetts Institute of Technology — $455,000

Boston Quantum, which is using enterprise quantum computing software to disrupt the financial industry, won the second-most amount of investment prizes and sixth place in the competition.

$5,000 Chevron Technology Ventures Sixth-Place Cash Prize
$300,000 OWL Investment Prize
$125,000 Softeq Venture Fund Prize
$25,000 Urban Capital Network Diversity Investment Prize in partnership with South Loop Ventures

FluxWorks, Texas A&M University — $350,000

Based on the judges scores, the big winner was FluxWorks, a Texas company that's technology includes magnetic gears that are four times quieter than standard with 99 percent efficiency and can offer unprecedented reliability from outer space to under the sea and even inside the human body. The company won the $350,000 GOOSE Capital Investment Grand Prize.

Skali, Northwestern University — $300,000

Skali, which didn't make it into the prestigious finalist positions, still walked away with $300,000 courtesy of the Softeq Venture Fund Prize. Skali's technology aims to better equip flights with medical emergency assistance.

TierraClimate, Rice University — $280,000

TierraClimate, a marketplace for selling verified carbon offsets to corporate buyers, won fourth place and the Norton Rose Fulbright $5,000 Prize. The company also won a $200,000 Softeq Venture Fund Prize and the $75,000 OWL Investment Prize.

AirSeal, Washington University in St. Louis — $250,000

Another non-finalist that still scored big was AirSeal, a company that's created a simple blood test for cardiovascular diagnostics. The startup secured the $250,000 TMC Innovation Healthcare Investment Prize.

Sygne Solutions, Rice University — $200,000

Sygne Solutions, a startup on a mission of eliminating a group of chemicals known as PFAS in water through its patent-pending technology, won second place and the $100,000 Investment Prize, sponsored by David Anderson, Jon Finger, Anderson Family Fund, Finger Interests, Greg Novak and Tracy Druce. The company also received the $100,000 TiE Houston Angels Investment Prize.

BlueVerse, Texas Tech University — $145,000

BlueVerse, a startup with tech to merge social media with reviews and rewards for small businesses, didn't make the finals but walked away with on of the $125,000 Softeq Venture Fund Prizes and the $20,000 Novak Druce Carroll Investment Prize.

Atma Leather, Yale University —$130,000

Atma Leather, a material innovation company that's created plant-based leather from banana stems and other crop waste, came in fifth place and secured the $5,000 EY Fifth-Place Cash Prize. The startup also won:

$75,000 OWL Investment Prizes
$50,000 nCourage Investment Group’s Courageous Women Entrepreneurs Investment Prize

MyLÚA Health, Cornell University — $30,000

MyLÚA Health's AI technology supports the maternal health industry. The company won the $30,000 Pearland Economic Development Corporation Spirit of Entrepreneurship Prize.

Active Surfaces, Massachusetts Institute of Technology — $25,000

With its flexible and lightweight solar panel technology, Active Surfaces scored the $25,000 New Climate Ventures Sustainability Investment Prize.

Integrated Molecular Innovations, Michigan Technological University — $25,000

Integrated Molecular Innovations, which created a wearable device that can monitor hormone levels, won the $25,000 Southwest National Pediatric Device Consortium Prize.

MiraHeart, Johns Hopkins University — $25,000

MiraHeart, which created a non-invasive way of monitoring child heart conditions, also won the $25,000 Southwest National Pediatric Device Consortium Prize.

Biome Future, University of Florida — $20,000

Biome Future, which creates ocean-safe chemicals via microbes in corals, won one of the $20,000 Novak Druce Carroll Investment Prizes.

Citrimer, University of Michigan — $10,000

A sustainable materials company, Citrimer won the $10,000 NABACO RBPC Alumni Network Prize.

Thryft Ship, University of Georgia — $10,000

Thryft Ship, which streamlines the shipping process for social media sellers, won a $10,000 nCourage Investment Group’s Courageous Women Entrepreneurs Investment Prize.

Pathways, Harvard University — $5,000

Pathways, which is developing a full-stack sustainability platform for the construction industry, won $5,000 Shell Ventures Seventh-Place Cash Prize.

In addition to these investment prizes, the startups have the chance to score in-kind prizes. This year, that included:

$6,667 Baker Botts Legal Services In-Kind Prize to FluxWorks, Texas A&M University
$6,667 Baker Botts Legal Services In-Kind Prize to Sygne Solutions, Rice University
$6,667 Baker Botts Legal Services In-Kind PrizeFluxWorks to Zaymo, Brigham Young University
$10,000 New York Technology Capital CFO Consulting In-Kind to FluxWorks, Texas A&M University
EFN Mentoring Services to all startup competitors
Amazon Web Services to all startup competitors
Stage 2 Competition Entry to Sygne Solutions, Rice University

All 42 of the RBPC companies wins at least $950. In each of the three semi-final rounds, third place wins $2,000, fourth place wins $1,750, and fifth place wins $1,500. The wild card round, which acts as a second-chance competition for the companies that didn't originally make it to the finals, advances the wild card winner into the finals and also awards second place $1,000, third place $975, fourth place $950, and fifth place $950.

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Here's what student teams from around the world were invited to compete in the Rice Business Plan Competition. Photo via rice.edu

Annual student startup competition in Houston names teams for 2023

getting pitch perfect

Rice Alliance for Technology and Entrepreneurship has named the 42 student startup teams that were extended invitations to compete in the 23rd annual Rice Business Plan Competition

The 2023 startup competition will take place on Rice University campus May 11 to 13, and the teams representing 37 universities from six countries will pitch to investors, mentors, and other industry leaders for the chance to win funding and prizes. Last year's RBPC doled out nearly $2 million in investment prizes.

This year, Rice saw its largest number of student startups applying for the RBPC internal qualifier from within campus. The university selected three to move on to compete at RBPC in May — Sygne Solutions, Neurnano Therapeutics, and Tierra Climate, which also received a total of $5,000 in cash prizes to these top three teams.

The 2023 RBPC will focus on five categories: energy, cleantech and sustainability; life science and health care solutions; consumer products and services; hard tech; and digital enterprise.

This invited companies, if they attend, will join the ranks of the 784 teams that previously competed in RBPC and have raised more than $4.6 billion in capital, as well as seen more than 50 successful exits including five IPOs.

The 2023 Rice Business Plan Competition invitees, according to Rice University's news release:

Active Surfaces, Massachusetts Institute of Technology
Adrigo Insights, Saint Mary’s University (Canada)
AirSeal, Washington University in St. Louis
Algbio, Yeditepe University (Turkey)
Arch Pet Food, University of Chicago
Astria Biosciences, University of Pittsburgh
Atma Leather, Yale University
Atop, UCLA
Biome Future, University of Florida
BioSens8, Boston University
BlueVerse, Texas Tech University
Boardible, Northwestern University
Boston Quantum, Massachusetts Institute of Technology
ceres plant protein cereal, Tulane University
Citrimer, University of Michigan
Dart Bioscience, University of Oxford (United Kingdom)
DetoXyFi, Harvard University
E-Sentience, Duke University
Edulis Therapeutics, Carnegie Mellon University
FluxWorks, Texas A&M University
Integrated Molecular Innovations, Michigan Technological University
Inzipio, RWTH Aachen University (Germany)
LoopX AI, University of Waterloo (Canada)
Magnify Biosciences, Carnegie Mellon University
MiraHeart, Johns Hopkins University
MyLÚA, Cornell University
Outmore Living, University of Texas
Pathways, Harvard University
Pediatrica Therapeutics, University of Arkansas
Perseus Materials, Stanford University
Pike Robotics, University of Texas
Quantanx, Arizona State University
Sheza, San Diego State University
Skali, Northwestern University
Sundial Solar Components, University of Utah
Thryft Ship, University of Georgia
Tierra Climate, Rice University
TrashTrap Sustainability Solutions, Visvesvaraya Technological University (India)
Unchained, North Carolina A&T State University
Unsmudgeable, Babson College
Vivicaly, University of Pennsylvania
Zaymo, Brigham Young University

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Houston robotics co. unveils new robot that can handle extreme temperatures

Hot New Robot

Houston- and Boston-based Square Robot Inc.'s newest tank inspection robot is commercially available and certified to operate at extreme temperatures.

The new robot, known as the SR-3HT, can operate from 14°F to 131°F, representing a broader temperature range than previous models in the company's portfolio. According to the company, its previous temperature range reached 32°F to 104°F.

The new robot has received the NEC/CEC Class I Division 2 (C1D2) certification from FM Approvals, allowing it to operate safely in hazardous locations and to perform on-stream inspections of aboveground storage tanks containing products stored at elevated temperatures.

“Our engineering team developed the SR-3HT in response to significant client demand in both the U.S. and international markets. We frequently encounter higher temperatures due to both elevated process temperatures and high ambient temperatures, especially in the hotter regions of the world, such as the Middle East," David Lamont, CEO of Square Robot, said in a news release. "The SR-3HT employs both active and passive cooling technology, greatly expanding our operating envelope. A great job done (again) by our engineers delivering world-leading technology in record time.”

The company's SR-3 submersible robot and Side Launcher received certifications earlier this year. They became commercially available in 2023, after completing initial milestone testing in partnership with ExxonMobil, according to Square Robot.

The company closed a $13 million series B round in December, which it said it would put toward international expansion in Europe and the Middle East.

Square Robot launched its Houston office in 2019. Its autonomous, submersible robots are used for storage tank inspections and eliminate the need for humans to enter dangerous and toxic environments.

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This article originally appeared on EnergyCapitalHTX.com.

Houston's Ion District to expand with new research and tech space, The Arc

coming soon

Houston's Ion District is set to expand with the addition of a nearly 200,000-square-foot research and technology facility, The Arc at the Ion District.

Rice Real Estate Company and Lincoln Property Company are expected to break ground on the state-of-the-art facility in Q2 2026 with a completion target set for Q1 2028, according to a news release.

Rice University, the new facility's lead tenant, will occupy almost 30,000 square feet of office and lab space in The Arc, which will share a plaza with the Ion and is intended to "extend the district’s success as a hub for innovative ideas and collaboration." Rice research at The Arc will focus on energy, artificial intelligence, data science, robotics and computational engineering, according to the release.

“The Arc will offer Rice the opportunity to deepen its commitment to fostering world-changing innovation by bringing our leading minds and breakthrough discoveries into direct engagement with Houston’s thriving entrepreneurial ecosystem,” Rice President Reginald DesRoches said in the release. “Working side by side with industry experts and actual end users at the Ion District uniquely positions our faculty and students to form partnerships and collaborations that might not be possible elsewhere.”

Developers of the project are targeting LEED Gold certification by incorporating smart building automation and energy-saving features into The Arc's design. Tenants will have the opportunity to lease flexible floor plans ranging from 28,000 to 31,000 square feet with 15-foot-high ceilings. The property will also feature a gym, an amenity lounge, conference and meeting spaces, outdoor plazas, underground parking and on-site retail and dining.

Preleasing has begun for organizations interested in joining Rice in the building.

“The Arc at the Ion District will be more than a building—it will be a catalyst for the partnerships, innovations and discoveries that will define Houston’s future in science and technology,” Ken Jett, president of Rice Real Estate Company, added in the release. “By expanding our urban innovation ecosystem, The Arc will attract leading organizations and talent to Houston, further strengthening our city’s position as a hub for scientific and entrepreneurial progress.”

Intel Corp. and Rice University sign research access agreement

innovation access

Rice University’s Office of Technology Transfer has signed a subscription agreement with California-based Intel Corp., giving the global company access to Rice’s research portfolio and the opportunity to license select patented innovations.

“By partnering with Intel, we are creating opportunities for our research to make a tangible impact in the technology sector,” Patricia Stepp, assistant vice president for technology transfer, said in a news release.

Intel will pay Rice an annual subscription fee to secure the option to evaluate specified Rice-patented technologies, according to the agreement. If Intel chooses to exercise its option rights, it can obtain a license for each selected technology at a fee.

Rice has been a hub for innovation and technology with initiatives like the Rice Biotech Launch Pad, an accelerator focused on expediting the translation of the university’s health and medical technology; RBL LLC, a biotech venture studio in the Texas Medical Center’s Helix Park dedicated to commercializing lifesaving medical technologies from the Launch Pad; and Rice Nexus, an AI-focused "innovation factory" at the Ion.

The university has also inked partnerships with other tech giants in recent months. Rice's OpenStax, a provider of affordable instructional technologies and one of the world’s largest publishers of open educational resources, partnered with Microsoft this summer. Google Public Sector has also teamed up with Rice to launch the Rice AI Venture Accelerator, or RAVA.

“This agreement exemplifies Rice University’s dedication to fostering innovation and accelerating the commercialization of groundbreaking research,” Stepp added in the news release.

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