Chevron has doubled down on its commitment to The Cannon in West Houston, a new study finds Houston a top city for STEM, a Houston startup takes home a win from a digital pitch competition, and more. Photo courtesy of The Cannon

Houston's innovation ecosystem has been booming with news, and it's likely some might have fallen through the cracks.

For this roundup of short stories within Houston innovation, a startup snags a win at a pitch competition, Chevron announces a new makerspace, a software company makes an acquisition, and more.

Houston named a best city for STEM

Image via SmartAsset

For the fifth year, personal finance website, SmartAsset, analyzed data for the 35 cities in the county with the largest STEM workforces. The study looked at the racial diversity index as well as the gender diversity index. The data for both metrics comes from the Census Bureau's 2019 1-year American Community Survey.

Houston ranked No. 7 on the list, and according to the report, the total number of STEM workers in Houston, Texas exceeds 79,500. Around 70 percent of the total STEM workers there are men, and more than 30 percent are women. Additionally, Houston has the third-best race/ethnicity index score in the study with more than 19 percent of STEM workers are Hispanic or Latino, almost 20 percent are Asian, and more than 8 percent are Black.

Texas makes up about a third of the top 10 list with Dallas and Fort Worth coming in at No. 9 and No.10, respectively.

Chevron announces digital makerspace in The Cannon

Photo courtesy of The Cannon

The Cannon and its surrounding Founders District in West Houston has announced the addition of Chevron's digital makerspace, which will be dedicated to startup partnerships and community organizations.

"Chevron's support for The Founders District and The Cannon expands our commitment to Houston's growing innovation ecosystem," says Barbara Burger, Chevron vice president, Innovation and president of Chevron Technology Ventures, in a news release. "We look forward to utilizing this new space to collaborate with other Chevron organizations, such as our Wells group, as we work to deliver more reliable, affordable, ever-cleaner energy."

While Chevron has been a key partner for The Cannon since 2018 and even had branded office space within the hub, this new space represents a new lease agreement for a significantly larger footprint.

"We are thrilled to partner with Chevron Technology Ventures in developing this exciting makerspace at The Founders District," says Mark Toon, CEO of Puma Development, the company developing The Founders District and founder of Work America Capital, a venture capital firm dedicated to investing in Houston-based businesses. "CTV is the paradigm for meaningful innovation in Houston. By investing in emerging technologies in energy, they are paving the way for innovation to remain at the heart of Houston's most prominent industry."

Lazarus 3D wins The Ion's pitch competition

Photo via Laz3d.com

After months of pitching events, The Ion's Startup Demo Day for 2020 concluded on November 18 with four final pitches from Lazarus 3D, Skylark Wireless, HelloWoofy, and Swoovy.

After each of the four founders presented at the virtual event, which was powered by Dell Technologies, Lazarus 3D, a startup that produces 3D-printed organs and tissues for surgical practice, took home the win and the cash prize.

"I'm so grateful to Ion Houston — I've met so many people and made so many connections," says Smriti Zaneveld, co-founder and president. "All of the companies that present at these events are doing something so meaningful."

Applications are now open for the next series. Apply online by clicking here.

Houston tech co. acquires New Zealand business

Photo via Onit.com

Houston-based Onit Inc., a legal software provider, announced that the company has acquired McCarthyFinch and its artificial intelligence platform.

"Our vision is to build AI into our workflow platform and every product across the Onit and SimpleLegal product portfolios," says Eric M. Elfman, Onit CEO and co-founder, in a news release. "AI will have an active role in everything from enterprise legal management to legal spend management and contract lifecycle management, resulting in continuous efficiencies and cost savings for corporate legal departments.

"Historically, legal departments have been thought of as black boxes where requests go in and information, decisions or contracts come out with no real transparency," Elfman continues. "AI has the potential to enhance transparency and contribute to stronger enterprise-wide business collaboration in a way that conserves a lawyer's valuable time."

The newly acquired software has the capacity to accelerate contract processing by up to 70 percent and increase productivity by over 50 percent. With the acquisition, Onit is enhancing its new artificial intelligence platform Precedent and the company's first release on the platform will be ReviewAI.

New sustainability-focused app launches at Climathon

Photo courtesy of Footprint

Houston-based Footprint App Inc. launched its latest carbon footprint education and action software during the Houston Climathon that was hosted earlier this month by Impact Hub Houston.

By tracking the user's sustainable habits, the student-focused tool allows users to compete to reduce their environmental impact. Footprint has launched in over 50 classrooms across the nation and is also being used by several corporations.

"With the state of Texas recently receiving an 'F' in climate education from the National Science Foundation, we see Footprint as the perfect tool for K-12 and beyond to help Texas students engage with climate science in a fun, competitive way," says Dakota Stormer, Footprint App, Inc. CEO and co-founder, in a news release.

Four Houston-based companies have been ranked among the country's fastest growing tech businesses. Photo via Getty Images

4 Houston companies make fastest-growing tech biz list

H-town representing

In a newly released annual ranking, four Houston-based technology companies scored spots.

Deloitte's 26th annual North America Technology Fast 500 is an annual ranking of the fastest-growing North American companies across tech sectors. The companies on the list were selected based on percentage fiscal year revenue growth from 2016 to 2019. The Houston companies that made the top 500 were:

  • No. 37 (5,881 percent growth): Enercross — An oil and gas logistics software company.
  • No. 190 (641 percent growth): Onit — A B2B software company that designs streamlining solutions.
  • No. 328 (306 percent growth): Lexicon Pharmaceuticals Inc. — A biopharmaceutical company developing treatments for diseases.
  • No. 426 (221 percent growth): Vendor Credentialing Services (aka symplr)— A tech platform that simplifies vendor services, compliance, and more for health professionals.

"The varied industries represented in this year's local Fast 500 winners is evidence of Houston's positive momentum in diversifying its core competencies beyond the energy sector," says Amy Chronis, Houston managing partner at Deloitte, in the release. "Innovation continues to be the driving force behind our city's evolution, and the Fast 500 winners are helping spur its progress. They inspire and provide a glimpse into our future."

According to the release, the 2020 Technology Fast 500 companies achieved revenue growth ranging from 175 percent to 106,508 percent over the three-year time frame, with a median growth rate of 450 percent.

Silicon Valley-based companies dominated the list, accounting for the top three companies as well as 20 percent of the entire list. The second largest region represented was New York, with 13 percent of the list.

In terms of sector, software has the biggest hold on the ranking with 71 percent of the companies being categorized in that realm, which is the highest percentage Deloitte has ever seen in this study.

The report also looked ate venture backing and found that this year 81 percent of the 500 fastest-growing tech companies received venture funding, which includes, according to the release, 26 of the top 30 companies.

"Each year the Technology Fast 500 listing validates how important technology innovation is to our daily lives. It was interesting to see this year that while software companies continued to dominate, biotech companies rose to the top of the winners list for the first time, demonstrating that new categories of innovation are accelerating in the pursuit of making life easier, safer and more productive," says Mohana Dissanayake, partner at Deloitte, in the release. "We extend our congratulations to these well-deserved winners — who all embody a spirit of curiosity, and a never-ending commitment to making technology advancements possible."

Three Houston companies are among the best startups for employees. 10'000 Hours/Getty Images

3 Houston companies plug into Forbes' first-ever best startup employers list

FORCES IN THE WORKFORCE

Three businesses based in the Houston area appear in Forbes magazine's inaugural ranking of the best startup employers.

Forbes teamed up with market research company Statista to identify up-and-coming companies that are liked most by those who work there. Researchers evaluated 2,500 U.S. businesses with 50 or more employees on three criteria: employer reputation, employee satisfaction, and growth. The result: Forbes' first-ever ranking, released March 10, of the country's 500 best startup employers.

To create the ranking, Statista looked at articles, blogs, and social media posts about each employer; employee reviews on job websites like Glassdoor and Indeed; and website traffic and employee headcounts for each startup over a two-year span.

The three Houston-area startups that are ranked are: Houston-based 2nd.MD (No. 280), Pearland-based Code Ninjas (No. 350), and Houston-based Onit (No. 463).

San Francisco-based footwear retailer Allbirds snags the No. 1 ranking on the Forbes list, and the Dallas-Fort Worth leads Texas metro areas for the most startups on the list with its 13 startup companies.

Ranked 25th, the highest in Texas, Fort Worth-based Koddi garners the top ranking among all Texas startups. The company provides marketing software for advertisers in the travel industry. In 2019, the Digiday Worklife Awards program named Koddi the tech company with the most collaborative culture.

"Koddi gives its employees the ability to shape the direction of their own careers and empowers them to succeed," Zachary Rector, associate director of account services, said in a 2017 release. "Every day at Koddi offers a unique challenge to overcome and the opportunity for personal growth. All of your coworkers are fully committed to one another's success and help each other learn. Koddi is a fast-paced, ever-changing, and engaging place to work."

Here are the 12 other Dallas-Fort Worth startups that appear in the Forbes ranking:

  • No. 50 — Bestow, Dallas
  • No. 59 — Veryable, Dallas
  • No. 118 — Sector 5 Digital, Fort Worth
  • No. 149 — Stryve Biltong, Plano
  • No. 231 — PestRoutes, McKinney
  • No. 265 — Titus Industrial, Dallas
  • No. 275 — Student Success Agency
  • No. 271 — Meritize, Frisco
  • No. 272 — Defi Solutions, Westlake
  • No. 305 — Crystal Clear Concepts, Grand Prairie
  • No. 325 — WellKept, Arlington
  • No. 411 — Tap Water Watch, Dallas

Meanwhile, Austin had a dozen startups on the list. At No. 87, Austin-based SchooX is the top-ranked startup in the Central Texas region. The company provides a workplace learning platform.

"Working at SchooX provides an awesome environment with great people that changes the way people learn," employee George Litos says on the company's website. "SchooX is shaping the future of e-learning, and I'm proud to be a part of it."

Here are the 11 other Austin-area companies that claim spots in the top 500:

  • No. 97 — Iris Telehealth, Austin
  • No. 201 — Jungle Scout, Austin
  • No. 226 — RigUp, Austin
  • No. 301 — TrustRadius, Austin
  • No. 315 — Shipwell, Austin
  • No. 399 — AlertMedia, Austin
  • No. 430 — Everlywell, Austin
  • No. 451 — Innovetive Petcare, Cedar Park
  • No. 457 — SubjectWell, Austin
  • No. 463 — ScaleFactor, Austin
  • No. 478 — Outdoorsy, Austin
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This article originally ran on CultureMap.

The East End Maker Hub receives a huge grant, Chevron commits to two tech companies, and more in this Houston innovation news roundup. Courtesy of The East End Maker Hub

City council approves $24M for East End hub, TMCx opens apps, and more Houston innovation news

Short stories

Houston is busting at the seams with innovation news as the ecosystem prepares to wrap up its year of growth. From grants and M&A activity to expansions and awards, there's a lot of news you may have missed.

In this latest news roundup, millions of federal funds are doled out, a female networking app commits to Houston, an accelerator launches applications, and more.

Makerspace in the East End to receive $24 million in federal funds

The East End Maker Hub

The East End Maker Hub plans to move tenants in next summer. Courtesy of TXRX

Last week, the Houston City Council voted in approval of $24 million in federal funds going toward a makerspace in the East End. The renovated 307,000-square-foot East End Maker Hub will be a place for education, training, and small-batch manufacturing.

The project is a collaboration between Urban Partnerships Community Development Corp., or UP CDC, and TXRX Lab, which will occupy around 60,000 square feet in the facility. The rest of the space will be leased out to startups.

The $37 million project is also being funded by a $5 million grant from the Economic Development Association, $7 million from New Market Tax Credits, and around $1.25 of TXRX's funds, including funds the nonprofit raised in donations.

The new facility is expected to create over 400 jobs, reach 14,000 young people annually, and support 100 small urban manufacturers, including 20 startups. The purchase close is planned for this month, and construction will begin next month. The first tenants are slated to move in next summer.

TMCx opens applications for redesigned accelerator program

The revamped TMCx program is accepting applications until December 13. Courtesy of TMC

Applications for the Texas Medical Center Innovation Institute's new and improved accelerator program are open for the spring 2020 cohort. Life science startups from around the world can apply online.

After celebrating five years of digital health and medical device startup acceleration, TMCx announced its team had been working to rethink the program to make it more something TMC's member institutions can benefit from.

Themes for the upcoming cohort include remote monitoring, virtual care, hospital efficiency, accessibility, and ideating for the clinics and operating rooms of the future.

Applications close on December 13, and finalists for an in-person bootcamp will be announced by the end of January for the two-week program from February 24 to March 6. After the program, TMCx will select the cohort members on March 20. The program then will run five sessions from April to August before a showcase slated for September.

Chevron Technology Ventures makes two strategic investments

Chevron Technology Ventures, lead by CEO Barbara Burger, has committed to two California-based companies. Courtesy of CTV

Chevron's Houston-based tech investment arm, Chevron Technology Ventures, made two moves recently. Silicon Valley-based NovoNutrients was invited to join the CTV Catalyst Program and Palo Alto, California-based Orbital Insight closed a recent round with help from CTV.

NuroNutrients, which has developed a way to create proteins through carbon capture, is the first biotech company to join CTV's Catalyst Program. The program will help advance the company's technology through market validating opportunities like pilot programs.

Orbital Insight, a geospatial analytics software company, closed its series D funding round at $50 million. The round was led by Sequoia Capital and Clearvision Ventures with contribution from CTV, as well as from Invicta Growth, Bunge Ventures Ltd, Goldman Sachs, Tech Pioneers Fund, and others. The company has raised over $125 million of funding since its founding in 2013.

Houston SaaS company makes acquisition

Coworking Space

A Houston company specializing in digital workplace software solutions has made a strategic acquisition following an exit to private equity. Getty Images

Houston-based iOFFICE, a software-as-a-service company providing solutions in the digital workplace experience, recently acquired Canadian management software entity, Hippo CMMS.

"Incorporating Hippo's solution into iOFFICE's broader application suite is a logical next stage in our company's evolution," says Mark Peterson, CEO of iOFFICE, in a news release. "As one of the leading native SaaS, asset management systems on the market today, Hippo is an ideal fit to join our brand. Their culture is very much like our own - they're strong and they move fast. Their offerings are robust, agile and they share our passion for disrupting the market with solutions that are unlike any other."

iOFFICE was recently acquired by Chicago-based private equity, Waud Capital, which has opened doors for the company to grow at a rapid pace.

Two Houston companies rank on Deloitte's annual Technology Fast 500 list

Two Houston companies made Deloitte's international list of growing tech companies. Shobeir Ansari/Getty Images

Two Houston companies have secured spots on Deloitte's annual Technology Fast 500 annual Technology Fast 500. Onit came in at No. 249, and symplr just made the list at No. 495. In its 25th year, the list represents the fastest-growing tech, media, life science, energy tech, and telecommunications companies from around the world.

The top company on the list was New York-based UiPath, which also has a large office in Houston. The company reported 37,458 percent growth. The 500 companies represent 41 states and provinces in North America, and Silicon Valley companies made up 19 percent of the list. New York City companies held on to 12 percent of the list, the New England region comprised 8 percent of the list, Washington D.C. companies were 7 percent of the list, and Los Angeles companies represented 5 percent of the 500 companies.


HerHeadquarters app plans to launch in Houston ahead of relocation

herheadquarters

HerHeadquarters is rolling out its app locally ahead of relocating to Houston. Courtesy of HerHeadquarters

Female-founded, female-focused tech company, HerHeadquarters, has plans to relocate its business operations to Houston — but first, it's rolling out its app to local female executives. The app plans to go live for the over 103,000 female CEOs in Houston on November 25.

The app's user experience is focused on making digital connections between women-run organizations. The app is live in Los Angeles, Miami, and New York City and is expected to launch simultaneously in San Francisco.

"These collaborations give them the power to increase revenue, company exposure, and expand their territory. We're excited Houston women entrepreneurs get to experience a faster and easier way to secure powerful partnerships, " says founder and CEO of HerHeadquarters, Carina Glover, in a news release.

HighRadius expands to Amsterdam

The Houston-based SaaS company is opening its fourth office to support its growth in Europe. Photo via highradius.com

Houston-based HighRadius Corp., a growing fintech software-as-a-service company, has announced a new office in Amsterdam just three years after opening its London office. Since entering the European market, the region has seen a 400 percent increase in bookings. The company, which has its headquarters in West Houston, also has an office in India.

"Automating order-to-cash and treasury management is a problem that transcends borders," says Sashi Narahari, founder and CEO of HighRadius, in a news release. "Building on the recent addition of Jon Keating as our general manager for EMEA, we continue to invest aggressively in the European market with the opening of our Amsterdam office."

Fannin Innovation Studio granted $2 million for new study

microscope

Getty Images

Houston-based Fannin Innovation Studio has received a $2,000,000 Phase II Small Business Innovation Research grant from the National Institute of Health. The grant is for the development of the ChorioAnchor device, which is designed to reduce preterm birth and infections in fetal surgery.

The device is being developed in partnership with Fannin, Texas Children's Hospital, Baylor College of Medicine, and Texas A&M University. The grant will be delivered over the next two years to devlop the device for pre-clinical and clinical testing.

"The ChorioAnchor has the potential to reduce these complications by providing mechanical support to the chorioamniotic membranes following fetal surgery, thus reducing the risk for chorioamniotic separation and PPROM," says Dr. Jimmy Espinoza of Texas Children's and BCM in a news release. "The additional support from the NICHD in the form of a Phase II SBIR grant will significantly help in refining the ChorioAnchor device with the objective of obtaining an investigational device exemption from the FDA to evaluate the efficacy and safety of the device in fetal surgeries."

Zibrio named honoree at CES Innovation Awards

The Zibrio SmartScale received national recognition at CES this year. Courtesy of Zibrio

Houston-based Zibrio, which developed a scale for measuring balance, has been named an honoree for CES Innovation Awards. The company has been invited to exhibit in the 2020 showcase.

Zibrio, founded in 2015 by Katharine Forth and Erez Lieberman Aiden, has a technology that came out of the founders' research at NASA. The medical device allows users to keep track of their balancing abilities as its convenient for them, and is especially helpful for the aging population.

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ExxonMobil announces $100B carbon-capture hub for Houston area

greener thinking

In a move that would be a gamechanger for Houston, oil and gas giant ExxonMobil envisions creating a $100 billion carbon-capture hub along the Houston Ship Channel.

ExxonMobil foresees the Houston Ship Channel being the site of an "innovation zone" for carbon capture and storage. In a blog post on the ExxonMobil website, Joe Blommaert, the Houston-based president of ExxonMobil Low Carbon Solutions, says Houston would be "the perfect place" for the project because:

  • The ship channel is home to dozens of refineries and petrochemical plants.
  • The geological formations in the Gulf of Mexico could "safely, securely, and permanently" store tons of carbon emissions under the sea floor, according to the blog post. The U.S. Department of Energy estimates the storage capacity along the U.S. Gulf Coast could handle 500 million metric tons of CO2.

Irving-based ExxonMobil, which employs more than 12,000 people in the Houston area, says the project could capture and store about 50 million metric tons of CO2 annually by 2030. By 2040, that number could rise to 100 million metric tons.

"We could create an economy of scale where we can reduce the cost of the carbon dioxide mitigation, create jobs, and reduce the emissions," Blommaert tells the Reuters news service.

In a news release, Houston Mayor Sylvester Turner applauds the ExxonMobil plan.

"This proposal by ExxonMobil is the type of bold ambition and investment we will need to meet our climate goals and protect our communities from climate change," Turner says. "ExxonMobil's proposal represents a significant step forward for the energy industry, and I hope it brings more companies to the table to help Houston lead a global energy transition."

Turner notes that the Houston area is home to some of the largest emitters of carbon in the U.S., adding that everyone has "a responsibility and role to play in decarbonization."

Blommaert says the project would require public and private funding, along with "enhanced regulatory and legal frameworks that enable investment and innovation." According to Politico, ExxonMobil wants the federal government to kick in tax breaks or to set carbon-pricing policies to help get the project off the ground.

Politico reports that the Biden administration isn't considering ExxonMobil's idea as it prepares a climate-change package.

"Meanwhile, environmental groups and many Democrats have slammed carbon-capture proposals as a climate strategy, saying the only way to permanently reduce greenhouse gas pollution is a wholesale switch away from fossil fuels," Politico says.

Meanwhile, the International Energy Agency maintains that carbon capture and storage "are critical for putting energy systems around the world on a sustainable path." Achieving net-zero goals "will be virtually impossible" without carbon capture and storage, the group says.

ExxonMobil announced creation of its Low Carbon Solutions business unit in February as part of its push to invest $3 billion in lower-emission energy initiatives through 2025. Low Carbon Solutions initially will focus on technology for carbon capture and storage. The business unit is exploring opportunities along the Gulf Coast, as well as in Wyoming, Belgium, the Netherlands, Qatar, Scotland, and Singapore.

Last year, ExxonMobil hit the pause button on a $260 million carbon-capture project in Wyoming due to fallout from the COVID-19 pandemic, according to the Bloomberg news service.

In a December report, the Global CCS Institute, a think tank, said 65 commercial carbon-capture projects were in various stages of development around the world.

"Climate ambition, including efforts to decarbonize industry, has not been curtailed despite the adversities faced in 2020," Brad Page, CEO of the institute, says in a news release about the report. "We're continuing to see an upward trajectory in the amount of CO2 capture and storage infrastructure that is being developed. One of the largest factors driving this growth is recognition that achieving net-zero emissions is urgent yet unattainable without CO2 reductions from energy-intensive sectors."

Newly appointed innovation leader calls for more health care collaboration in Houston

HOUSTON INNOVATORS PODCAST EPISODE 80

Allison Post is a professional dot connector for the Texas Heart Institute. Located in the Texas Medical Center and founded in 1962, THI has long had a history of innovation — from Denton Cooley, THI's founder, performing the first artificial heart implementation in 1970.

Now, Post — who was appointed to a newly created position of manager of innovation partnerships — is focused on working with THI's latest generation of cardiac health innovators. She works internally to foster and support THI's brightest inventors as well as externally to make sure the institute is bringing in the best new technologies out there to its patients.

"The whole mission of the Texas Heart Institute is to help our patients. If that means that someone else has an incredible idea we want to jump onboard and bring it to people," Post says in this week's episode of the Houston Innovators Podcast.

Post, who has a bioengineering background and has worked on both sides of the table as an entrepreneur and a startup mentor, is looking to support breakthrough cardiac innovations within stem cells, pharmaceuticals, medical devices, and more. And unfortunately, the cardiac health space has an increasing need to develop new health care solutions.

"Because of the growing burden of heart disease, heart failure, coronary artery disease, the unfortunately long list of things that can go wrong with someone's heart means the pressing need for therapies is just growing," she says on the show. "We're trying to keep up and break into things that people haven't done a lot of work on, such as women's heart health."

Another factor in Post's role, which she's had since last fall, is to bring THI further into both the TMC's innovation efforts as well as the greater Houston innovation ecosystem — as well as beyond. To her, Houston has a huge opportunity to lead health care innovation.

"It makes no sense that we aren't the health care leaders yet in med tech development. It should not be Boston, San Francisco, or Minneapolis. It should be Houston," Post says. "We have everything we need to do it. We just need to bring it all together."

The key to getting there, she says, is further collaboration. If there's one thing the world has learned about health care innovation from COVID-19, it's that when experts are rallying behind and collaborating on solutions, the speed of development is much faster.

"The more minds we have the better the solutions I going to be," she says.

Post says that she hopes her work at THI can inspire other institutions to collaborate ‚ since everyone has the same goal of helping patients.

"I only see just phenomenal things for Houston, and what I really want is for the Texas Medical Center to become even more interconnected. We've got to be able to transfer ideas and thoughts and intentions seamlessly between these institutions and right now there are a lot of barriers," Post says. "And I really think Texas Heart is hopefully going to serve as an example of how to take down those barriers."

Post shares more about what she's focused on and where THI is headed on the episode. Listen to the full interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.

New Houston accelerator supporting BIPOC in aerospace announces inaugural cohort

out of this world

A new accelerator program that is focused on aerospace innovation and supporting entrepreneurs who are Black, Indigenous, and people of color has announced its first cohort.

The Ion's Aerospace Innovation Accelerator for Minority Business Enterprises, or AIA for MBEs, has named the four companies that well be a part of its inaugural cohort. The 12-week program will guide the entrepreneurs through the development of their innovations, the growth of their businesses, and the development of relationships with mentors, corporate partners, and stakeholder networks.

"Aerospace contains a myriad of dimensions and by demystifying the industry in the form of the AIA for MBEs, we are able to build a more inclusive innovation ecosystem," says Christine Galib, senior director of programs at The Ion, in a news release. "It's our goal to not only support participants to be successful, but to open the playing field for other minority business enterprises hoping to enter the space."

The program's existence was possible through a partnership with NASA's Johnson Space Center, DivInc, and The Ion — as well as a $1.4 million grant from the U.S. Department of Commerce's Minority Business Development Agency.

Here are the four companies to take part in the cohort, according to the release:

  • Axialnics Systems Inc., led by Vincent Mbuvi, is an aerospace technology platform developing a Disc-wing Rotor Aircraft Concept, which takes-off as a helicopter, carries as much payload as an airplane and flies just as fast beyond the range of typical helicopters. The innovation solves runway inefficiencies and enhances military efficiency.
  • Boozed Beverages LLC, led by Damyanna Cooke and Jim Luu, specializes in intelligent vending in the liquor industry. The company provides a contactless, AI-driven cocktail making and dispensing vending machine, for locations such as weddings and events, sporting venues, festivals, restaurants, and nightclubs and lounges.
  • NANCo Aero, led by Shern Peters, provides urban air vehicles and drones to commercial, small business, government, and nonprofit organizations. It is working to develop the first Hybrid Personal Air Vehicle capable of transporting a family over the city of Houston.
  • Stratos Perception LLC, led by Rube Williams, develops artificial intelligence solutions for space systems to benefit human productivity, safety, and enterprise. It is also developing an intelligent transducer, a tool that can monitor and control multiphase flow, for use in space such as lunar water extraction and waste processing.

The hub and its associated accelerator will be housed at The Ion when it opens up later this year — along with the organizations other accelerators — but the program is being launched virtually on Wednesday, April 21, at noon.

"The Aerospace Innovation Hub came from the idea that the aerospace industry is well-known in Houston but for many people, particularly underrepresented communities, there have been barriers in entering the aerospace industry," says Jan E. Odegard, executive director of The Ion, in the release. "By offering mentorship, introduction to capital and training opportunities, with significant backing from Microsoft, The Ion is working to remove the barriers."