Exclusive: Global early stage accelerator program launches second Texas location in Houston

New to town

Palo Alto-based Founder Institute is launching its Houston program at Station Houston. Image courtesy Founder Institute

Silicon Valley-based Founder Institute has announced its second Texas program in Houston, which will operate out of Station Houston. Founder Institute Houston applications for the inaugural cohort close May 19.

The early stage accelerator focuses on advancing startup companies in the pre-funding phase.

"It's quite different from any other program in Houston currently," says Neal Murthy, director of Founder Institute Houston. "It's an accelerator, but it's an idea-stage accelerator."

Before Founder Institute, Houston's only early stage opportunities were tied to universities — like the University of Houston's Red Labs or Rice University's Owl Spark — and those are typically focused on the university's community and on education, Murthy says.

In anticipation of launch, Founder Institute Houston will host a series of free entrepreneurial events, with the first one being March 19.

The Houston chapter will be ran by three directors: Murthy, a UH lecturer and angel investor, James Phelan, innovation expert with a real estate background, and Tabbie Saenz, Alice community leader and Baker Ripley mentor. Martin Martinez, managing director of Founder Institute Texas, who launched the Austin program, will also join the team.

"What's nice about our team is because we were already colleagues and friends prior to coming together on this project, we already have rapor, we can communicate, and we know each other's working styles, strengths, and weaknesses," says Phelan.

Founded in 2009 by Adeo Ressi and Jonathan Greechan, Founder Institute has chapters in 180 cities in 65 countries. They've contributed to 3,500 companies that have now raised over $800 million.

"Houston's supportive startup community and its affordable living costs have inspired a lot of entrepreneurial enthusiasm in the city. Every year, more co-working spaces and incubators move to Houston and it's now easier to launch a startup here than ever before. We aim to help that trend," Ressi says in a release. "I believe that our structured accelerator program will give potential founders the guidance they need to launch successful technology companies in Houston."

Every chapter focuses on the same idea-stage type of company and selects around 30 companies to participate in a 14-week course of education, mentorship, and business development. The cohort spends around three hours a week in educational programming, but then is expected to spend 20 to 25 hours a week working assignments and business development. It's designed to be tough. Usually, only around 10 founders of the 30 will cross the finish line.

"If they can't handle this course, then there's no way they're going to be a successful founder because this course is a breeze compared to running a company," says Phalen.

The Founder Institute alumni network is huge, and is one of the program's biggest perks. Not only do participants get access to a network successful founders, but they also usually have a foot in the door at the next stage of competitive accelerator programs.

"That's an enormously valuable thing from a fundraising aspect if you have the support from another successful founder standing next to you, vouching for you," Phelan says.

Another thing that makes Founder Institute different is, rather than operating off an equity approach, Founder Institute and its local directors receive warrants from each participating company. And, fellow founders and even program mentors receive a cut too.

"The sharing of that [means] everyone has economic incentives and it encourages collaboration among the cohort itself," Murthy says.

Founder Institute's expansion plan for Texas doesn't end at Austin and Houston. Two other locations in Dallas and San Antonio are also in route to the Lone Star State. However, Houston's a bit different of a city to be in, with it's diversity and large size.

"We are going to be targeting a very diverse community as well. We want to have everyone who hasn't had a chance to access resources like this," Saenz says.

Murthy, who has been a mentor for the Founder Institute in Austin, says it's so remarkable to see how much these founders accomplish in the 14 weeks, and he can't wait to see that affect the Houston ecosystem.

"We think that Houston needs a number of new elements to fill out its ecosystem, and this is one of them — an idea-stage accelerator," Murthy says. "We've seen the success it's had in Austin and globally, and we're hoping to bring that to Houston."

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Houston medtech firm secures $30M for neurosurgical robot

stroke surgery

Robotic neurosurgery is an exciting new frontier in medicine, and Houston-based medtech firm XCath is leading the charge with its revolutionary Iris robotic system. The company announced in March that it had secured $30 million in Series C funding to continue developing systems to tackle blood clots in the human brain.

“We are grateful to our investors for their conviction in our shared mission to improve clinical outcomes for patients impacted by endovascular diseases,” Eduardo Fonseca, CEO of XCath, said in a news release. “In 2025, the XCath team advanced the frontiers of endovascular robotics. This funding accelerates our commitment to expanding access to life-saving care so that where a patient lives no longer determines whether they live.”

XCath–which also has campuses in Pangyo, South Korea–has already achieved a number of remarkable firsts in robotic neurosurgery. The Iris is the only endovascular robotic system currently in development to perform intracranial navigation or neurointerventional treatment, and is the only robot in the world to have performed an intracranial neurovascular procedure involving the robotic manipulation of three devices.

These new Series C funds, which bring the company's total investment to $92 million, will go toward developing a clinical telerobot capable of performing a mechanical thrombectomy. This would bring unprecedented accuracy and precision to the surgical removal of brain clots, significantly reducing the risk of neurosurgery.

“Robotic surgery succeeds when innovation is paired with practical execution,” Dr. Fred Moll, chairman of the XCath board of directors, said in the release. “XCath has built a promising technology foundation, and just as importantly, a team that values rigor and appreciates perspective. I’m excited to support them as they take on the mission of globalizing access to gold-standard care for stroke patients.”

In November 2025, the Iris debuted under the control of Dr. Vitor Mendes Pereira at The Panama Clinic in Panama City, alongside local Principal Investigator Dr. Anastasio Ameijeiras Sibauste. It was only the second time in human history that a robot had been used for intracranial neurovascular intervention, and it established Iris as a viable technology in the fight against stroke.

“Treatment of stroke and other neurovascular diseases represents one of the most significant financial opportunities in healthcare, supported by positive reimbursement dynamics and strong demand from health systems,” Nicholas Drysdale, CFO of XCath, added in the release. “With our continued investor support and disciplined capital deployment, XCath is positioned to build a category-leading platform in endovascular robotics”.

Houston geothermal unicorn Fervo officially files for IPO

going public

Fervo Energy has officially filed for IPO.

The Houston-based geothermal unicorn filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission on April 17 to list its Class A common stock on the Nasdaq exchange. Fervo intends to be listed under the ticker symbol "FRVO."

The number and price of the shares have not yet been determined, according to a news release from Fervo. J.P. Morgan, BofA Securities, RBC Capital Markets and Barclays are leading the offering.

The highly anticipated filing comes as Fervo readies its flagship Cape Station geothermal project to deliver its first power later this year

"Today, miles-long lines for gasoline have been replaced by lines for electricity. Tech companies compete for megawatts to claim AI market share. Manufacturers jockey for power to strengthen American industry. Utilities demand clean, firm electricity to stabilize the grid," Fervo CEO Tim Latimer shared in the filing. "Fervo is prepared to serve all of these customers. Not with complex, idiosyncratic projects but with a simplified, standardized product capable of delivering around-the-clock, carbon-free power using proven oil and gas technology."

Fervo has been preparing to file for IPO for months. Axios Pro first reported that the company "quietly" filed for an IPO in January and estimated it would be valued between $2 billion and $3 billion.

Fervo also closed $421 million in non-recourse debt financing for the first phase of Cape Station last month and raised a $462 million Series E in December. The company also announced the addition of four heavyweights to its board of directors last week, including Meg Whitman, former CEO of eBay, Hewlett-Packard, and Spring-based HPE.

Fervo reported a net loss of $70.5 million for the 2025 fiscal year in the S-1 filing and a loss of $41.1 million in 2024.

Tracxn.com estimates that Fervo has raised $1.12 billion over 12 funding rounds. The company was founded in 2017 by Latimer and CTO Jack Norbeck.

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This article originally appeared on our sister site, EnergyCapitalHTX.com.

New UT Austin med center, anchored by MD Anderson, gets $1 billion gift

Future of Health

A donation announced Tuesday, April 21, breaks a major record at the University of Texas at Austin. Michael and Susan Dell are now UT Austin's first supporters to give $1 billion. In response, the university will create the UT Dell Campus for Advanced Research and the UT Dell Medical Center to "advance human health," per a press release.

The release also records "significant support" for undergraduate scholarships, student housing, and the Texas Advanced Computing Center for supercomputing research.

Both the new research campus and the UT Dell Medical Center will integrate advanced computing into their research and practices. At the medical center, the university hopes that will lead to "earlier detection, more precise and personalized care, and better health outcomes." The University of Texas MD Anderson Cancer Center will also be integrated into the new medical center.

That comes with a numeric goal measured in 10s: raise $10 billion and rank among the top 10 medical centers in the U.S., both in the next decade.

In the shorter term, the university will break ground on the medical center with architecture firm Skidmore, Owings & Merrill (SOM) "later this year."

“UT Austin, where Dell Technologies was founded from a dorm room, has always been a place where bold ideas become real-world impact,” said Michael and Susan Dell in a joint statement.

They continued, “What makes this moment so meaningful is the opportunity to build something that brings every part of the journey together — from how students learn, to how discoveries are made, to how care reaches families. By bringing together medicine, science and computing in one campus designed for the AI era, UT can create more opportunity, deliver better outcomes, and build a stronger future for communities across Texas and beyond.”

This is the second major gift this year for the planned multibillion-dollar medical center. In January, Tench Coxe, a former venture capitalist who’s a major shareholder in chipmaking giant Nvidia, and Simone Coxe, co-founder and former CEO of the Blanc & Otus PR firm, contributed $100 million$100 million.

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