2 lab-stage Houston startups receive fresh funding from Rice University grant program

cashing in on innovation

The two new awardees are LymphGuide and HEXASpec, which were selected from 26 applications. Each company received an $100,000 grant. Photo courtesy of The Ion

Rice University has doled out another batch of grants from its program supporting lab-based innovations.

The One Small Step Grant, which was announced a year ago and gave out its first grants in February, was established to fund Rice-founded, lab-stage projects on their path to commercialization

“The One Small Step Grant invites applications from students and faculty who are tackling some of the world’s most pressing challenges and preparing to bring their innovative technologies to market,” Nafisa Istami, innovation manager at Rice, says in a news release. “We received highly competitive applications from across campus, truly showcasing the growing momentum of technology innovation happening at Rice.”

The two new awardees are LymphGuide and HEXASpec, which were selected from 26 applications. Each company received an $100,000 grant.

LymphGuide was developed by Martha Fowler in Rice professor Omid Veiseh’s lab. The hydrogel platform is a customizable alginate that's combined with an engineered cell therapy to aid in lymphatic cell regrowth, initially targeting the treatment and prevention of lymphedema.

"We are profoundly grateful to the One Small Step Grant for supporting our vision to treat lymphedema,” says Martha Fowler, cofounder of LymphGuide. “This funding will propel our biotechnology into pre-clinical evaluation to make a meaningful impact in scientific research and for people suffering from lymphatic disease.” Fowler is also an active contributor in the Rice entrepreneurship ecosystem and an Liu Idea Lab of Innovation and Entrepreneurship Innovation Fellows Cohort 2 member.

Led by by Tianshu Zhai in Rice professor Jun Lou’s lab, HEXASpec develops inorganic fillers and molding compounds for next-generation chip packaging. Zhai is also one of the Liu Idea Lab of Innovation and Entrepreneurship Innovation Fellows.

“We are thrilled to receive the One Small Step Grant from Rice Innovation,” says Tianshu Zhai, cofounder of HEXASpec. “This support is crucial for advancing HEXASpec and signifies the strong backing of the Rice entrepreneurship community. We’re grateful for the opportunity to develop our technology with such robust support.”

The next round of grant opportunities will open next month with an online application process.

“The One Small Step Grant program is a demonstration of Rice’s commitment to supporting the commercialization of Rice technologies,” says Adrian Trömel, associate vice president of Innovation Strategy and Investments. “Each cycle further highlights the impactful work of Rice students and faculty to solve global problems across industries.”

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Rice University has launched the One Small Step Grant program and has plans to establish the One Giant Leap VC fund. Photo courtesy of Rice University

Rice University launches research innovation grant program with VC fund in the works

coming soon

Over 60 years ago at Rice University, President John F. Kennedy recommitted the country to the Space Race. Now, decades later, the university is announcing its commitment to moonshot innovators.

Rice University's Office of Innovation established the One Small Step Grant — named for Neil Armstrong's first words spoken from Tranquility Base just several years after JFK's speech at Rice — last month. The program will provide funding to faculty working on "promising projects with commercial potential," according to the website.

The grant initiative will provide as many as five awards a year, each with funding of up to $100,000. Applications, which are open now, are accepted on a rolling basis, and the university's Rice Investment Committee will review submissions on a quarterly basis.

"The One Small Step Grant is a beacon of hope by providing support to enable critical experiments that pave the way for groundbreaking startups or licensing breakthrough tech," reads the website. "We seek projects within 12-18 months of forming a spin-out or embarking on a licensing event."

Paul Cherukuri, vice president of innovation at Rice University, shared the news of the grant program at an August 28 panel for the opening of Houston Methodist's Tech Hub at the Ion.

He says the initiative comes out of the need to financially support faculty-led, research-focused projects and to incentivize these faculty members to take their innovative ideas and commercialize them. Since he took on his role at Rice a year ago, he's observed the need for this type of funding.

"As soon as we announced this, in the same day, we had five professors fill out the form," Cherukuri says about the One Small Step Grant program.

The initiative has two parts to it, with the new grant program being the first to deliver. Next will be the One Giant Leap Fund, which Rice has not yet revealed details on.

Paul Cherukuri, vice president of innovation at Rice University, shared details about the new program at a recent event at the Ion. Photo via Rice.edu

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6+ can't-miss Houston business and innovation events in March

where to be

Editor's note: March brings the return of some of Houston’s signature innovation events, plus insightful talks and celebrations in honor of Women's History Month. Here’s what not to miss and how to register. Please note: this article may be updated to include additional event listings.

March 3-4 — Houston MedTech Rodeo

Head to Armadillo Palace for the annual Houston MedTech Rodeo. The casual, Texas-themed conference brings together 350 medtech professionals who come from over 10 countries and 15 states to highlight Houston's growing medtech ecosystem. The event will feature panel discussions, startup showcases, networking sessions—plus, armadillo races, mechanical bull riding and live country music.

The event begins March 3 at Armadillo Palace on Kirby Drive. Register here.

March 4 – Humans of Healthcare

Houston Methodist Center for Innovation will present its new quarterly speaker series, Humans of Healthcare. The series will feature a panel of experts who will share about their career paths and discuss the nuances of the health care industry. This month's session will focus on IT. The panel will be moderated by Houston Methodist's Director of Innovation Murat Uralkan.

The event is Wednesday, March 4, from 5-6 p.m. at the Ion. Register here.

March 5 — The Future of Women in STEM

Celebrate Women's History Month at SUPERGirls SHINE Foundation's The Future of Women in STEM event, presented in partnership with the Ion. The event will feature speakers and panelists, including Kalila Winters Hines, senior public affairs advisor for Holland & Knight; Dr. Natacha Chough, NASA Johnson Space Center Flight Surgeon; and Andrea Course, rocket scientist and founder of Course Investments.

The event is Thursday, March 5, from 8:30-10 a.m. at the Ion. Register here.

March 10-12 — World Hydrogen & Carbon Americas

S&P Global Energy brings together two leading events—Carbon Management Americas and World Hydrogen North America—to form a new must-attend event for those in the hydrogen and carbon industries. More than 800 senior leaders from across the energy value chain will attend this event featuring immersive roundtable discussions, hands-on training, real-world case studies and unparalleled networking opportunities.

This event begins March 10 at the Marriott Marquis Houston. Register here.

March 20 — Ideas to Impact Accelerator Graduation and Showcase

Join Impact Hub Houston as it celebrates its inaugural Ideas to Impact Accelerator cohort. The 16-week accelerator is designed to help early-stage entrepreneurs validate their business models, strengthen confidence and gain traction. Hear short pitches and network with founders and mentors.

The event is Friday, March 20, from noon-2 p.m. at the Ion. Register here.

March 23-27 — CERAWeek 2026

CERAWeek 2026 will focus on "Convergence and Competition: Energy, Technology and Geopolitics." The industry's foremost thought leaders will convene in Houston to cultivate relationships and exchange transformative ideas during the annual event. CERAWeek 2026 will explore breakthroughs, cross-industry connections and powerful partnerships that are accelerating the transformation of the global energy system. 2026 highlights include an appearance by tech magnate Bill Gates.

This event begins March 23. Register here.

March 24-25 — 2026 Energy Venture Day and Pitch Competition

The Energy Venture Day and Pitch Competition, co-hosted by the Rice Alliance, Ion, HETI and TEX-E, offers two days of exciting pitches from more than 40 global energy ventures that are transforming the industry. On Tuesday, March 24, you can attend a fast-paced pitch preview event at the Ion, followed by the official Pitch Competition at 1 pm on Wednesday, March 25, at the George R. Brown Convention Center.

March 30-April 4 — H-Town Roundup

Celebrate innovation, entrepreneurship and collaboration at Houston Exponential's sixth-annual H-Town Roundup. During the free event series, previously known as Houston Tech Rodeo, attendees can expect insightful talks, workshops and networking events at venues across the city.

This event begins Monday, March 30. Register here.

Intuitive Machines secures $175M equity investment to fuel growth

space funding

Houston-based space infrastructure and services company Intuitive Machines has secured a $175 million equity investment from unidentified institutional investors. The investors received shares of Class A stock in exchange for their funding.

Publicly held Intuitive Machines (Nasdaq: LUNR) says it plans to use the capital to help build revenue and invest in technology, including communications and data-processing networks.

“We are building a scalable infrastructure platform from low-Earth orbit to the moon and into deep space,” Intuitive Machines CEO Steve Altemus said in a news release. “With this investment, we can accelerate the integration of the combined company’s collective capabilities to deliver next-generation data, communications, and space-based infrastructure services.”

Intuitive Machines says the $175 million investment will improve its ability to secure deals for satellite systems, the proposed Golden Dome missile defense system and the proposed Mars telecommunications orbiter.

As the company pursues those deals, it’s seeking partners to develop space-based data centers.

The $175 million equity stake comes on the heels of Intuitive Machines completing its $800 million cash-and-stock purchase of Lanteris Space Systems. Intuitive Machines bought the satellite manufacturer from private equity firm Advent International.

In the third quarter, which ended Sept. 30, Intuitive Machines posted a $10 million net loss on revenue of $52.4 million.

Rice to revolutionize lymphatic disease research and more news to know

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Editor's note: We're looking back at the five biggest innovation headlines from the second half of February 2026, which include exciting Rice research advancements and Apple doubling down on production in Houston. Below are the five most-read InnovationMap stories from Feb. 16-28, 2026.

1. Rice University lands $18M to revolutionize lymphatic disease detection

Rice University scientists are pioneering two technologies to better diagnose and treat complex lymphatic anomalies. Photo via Getty Images.

An arm of the U.S. Department of Health and Human Services has awarded $18 million to scientists at Rice University for research that has the potential to revolutionize how lymphatic diseases are detected and help increase survivability. Continue reading.

2. Tech giant Apple doubles down on Houston with new production facility

Apple doubles down on Houston with new production facility, training centerPhoto courtesy Apple.

Tech giant Apple announced that it will double the size of its Houston manufacturing footprint as it brings production of its Mac mini to the U.S. for the first time. The company plans to begin production of its compact desktop computer at a new factory at Apple’s Houston manufacturing site later this year. The move is expected to create thousands of jobs in the Houston area, according to Apple. Continue reading.

3. Houston startup debuts new drone for first responders

Paladin Drones has revealed its next-gen emergency response drone, Knighthawk 2.0. Photo courtesy Paladin.

Houston-based Paladin Drones has debuted Knighthawk 2.0, its new autonomous, first-responder drone. The drone aims to strengthen emergency response and protect first responders, the company said in a news release. “We’re excited to launch Knighthawk 2.0 to help build safer cities and give any city across the world less than a 70-second response time for any emergency,” said Divyaditya Shrivastava, CEO of Paladin. Continue reading.

4. XSpace adds 3 Houston partners to fuel national expansion

XSpace, an innovative commercial real estate company, has partnered with three Houston firms to help grow its footprint. Rendering via xspacegroup.com

Texas-based XSpace Group has brought onboard three partners from the Houston area to ramp up the company’s national expansion. The new partners of XSpace, which sells high-end multi-use commercial condos, are KDW, Pyek Financial and Welcome Wilson Jr. Houston-based KDW is a design-build real estate developer, Katy-based Pyek offers fractional CFO services and Wilson is president and CEO of Welcome Group, a Houston real estate development firm. Continue reading.

5. Houston doctor wins NIH grant to test virtual reality for ICU delirium

Dr. Hina Faisal will test the effects of VR games on patients coming out the ICU, thanks to a recent NIH grant. Photo via Getty Images.

Think of it like a reverse version of The Matrix. A person wakes up in a hospital bed and gets plugged into a virtual reality game world in order to heal. While it may sound far-fetched, Dr. Hina Faisal, a Houston Methodist critical care specialist in the Department of Surgery, was recently awarded a $242,000 grant from the National Institute of Health to test the effects of VR games on patients coming out of major surgery in the intensive care unit (ICU). Continue reading.

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