This week's roundup of Houston innovators includes Youngro Lee of Brassica, Anu Puvvada of KPMG Studio, and Brock Murphy of Parent ProTech. Photos courtesy

Editor's note: In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries — from corporate innovation to fintech — recently making headlines in Houston innovation.


Youngro Lee, founder of Brassica

Youngro Lee joins the Houston Innovators Podcast to discuss his latest endeavor on his mission to democratize investing. Photo courtesy

Brassica Technologies, a fintech infrastructure company that's providing a platform for alternative assets, is just the next step in his career in using tech to democratize finance. The idea came from Lee's experience as a startup founder and fintech exec — first at NextSeed and then at Republic, which acquired NextSeed two years ago.

"The reason why I thought this was what I wanted to focus on next was exactly because it was an issue I struggled with as a founder of NextSeed," Lee says on the show. "The backend was always an issue. There's not one single vendor that we felt really understood our business, was doing it efficiently, or enabled us to deliver those services to our end clients."

Lee shares more about the future of Brassica, including the challenges he's facing within regulation and the state of fintech as a whole, on the podcast. He also weighs in on how he's seen the Houston innovation ecosystem grow and develop alongside his own entrepreneurial journey. Read more.

Anu Puvvada, KPMG Studio leader

Anu Puvvada, KPMG Studio leader, shares how her team is advancing software solutions while navigating hype cycles and solving billion-dollar-problems. Photo courtesy of KPMG

In 2021, KPMG, a New York-based global audit, accounting, and advisory service provider, formed a new entity to play in the innovation space. The Houston-based team finds innovative software that benefit KPMG's clients across industries.

In an interview with InnovationMap, Anu Puvvada, leader of KPMG Studio, shares more about the program, its first spin out, and why she's passionate about leading this initiative from Houston.

"When you think about innovation as a whole, it's mired with risk and uncertainty," she says. "You never know if something's going to work or not. And part of what we have to do with any idea that we're building in the studio or anything that our clients are doing around innovation, we have to do as much as we can to mitigate that risk and uncertainty. And that's kind of what KPMG's wheelhouse is." Read more.

Brock Murphy, Parent ProTech co-founder

Brock Murphy launched Parent ProTech last fall. Photo via parentprotech.com

Houston-based Parent ProTech is a one-stop shop for parental education on technology and applications that their kids use.

“Our goal is to make everyone the best digital parent possible,” Brock Murphy, Parent ProTech co-founder, tells InnovationMap. “We understand technology and the role it plays in influencing the next generation. So we help parents when it comes to understanding the platforms, how to use them and how to unlock the parental controls that can be hidden, deeper into these platforms.”

Murphy — with co-founder Drew Wooten and creative director Joshua Adams — launched the platform in September 2022. Since then, Parent ProTech has made its mark through partnerships with schools in Texas. Read more.

Parent ProTech allows for parents to learn about the platforms their kids are active on — and how to protect them from potential danger. Photo via Canva and ParentProTech.com

Houston startup develops tech to protect children from online threats

imapct-driven innovation

Worry is an unavoidable part of the job description for any parent with children that continuously explore social media and other online applications and networks.

It seems as if with each passing day, a litany of horror stories centered around online bullying and online predators come to light replete with children who were approached and violated online and parents that had virtually no idea what their kids were up against.

But imagine a world where parents are able to not only monitor a child’s online activity, but are able to finally understand it, control it, and restrict it.

It’s a lofty task, but the team behind Parent ProTech, the one-stop shop for parental education on technology and applications that their kids use, are not only equipped to tackle it, they are passionate about finally giving parents the guide to parenting in the digital age.

“Our goal is to make everyone the best digital parent possible,” Brock Murphy, Parent ProTech co-founder, tells InnovationMap. “We understand technology and the role it plays in influencing the next generation. So we help parents when it comes to understanding the platforms, how to use them and how to unlock the parental controls that can be hidden, deeper into these platforms.”

Growing the tech platform

Murphy — with co-founder Drew Wooten and creative director Joshua Adams — launched the platform in September 2022. Since then, Parent ProTech has made its mark through partnerships with schools in Texas.

“Currently we’re at over 20,000 users and last week I closed a big deal with a national charter school, so they’re looking to launch in their Texas schools starting in August, which will pull us to 56,000 users signed up,” says Murphy. “The easiest way to get this important research into as many hands as possible was going to the schools.

“In Texas they have the Texas Essential Knowledge and Skills, or TEKS, requirement, and so we’re filling some of the void when it comes to social and emotional learning when it comes to interacting with technology and others online, preventing violence and cyberbullying and different computer applications requirements that the state passes down to schools to teach to children.”

Brock Murphy launched Parent ProTech last fall. Photo via parentprotech.com

Murphy realized that there was a dearth in online protection when it comes to children when he first started looking at the data coming out of the COVID-19 pandemic.

Based on the data, it was evident that children from ages 11 to 14 years old spent over nine hours in front of a screen per day and, according to FBI reports, have the potential to encounter some 500,000 online predators during that time.

“We’re highlighting the good, the bad and the ugly,” says Murphy. “And then we’re monitoring the different platforms, so when Snapchat added a new feature, for example, and inappropriate content was popping up on my entire teams’ Snapchat, we definitely wanted to flag the families.

“We alerted them about the new feature and the inappropriate content popping up and informed them about what to look out for and how they can do to combat it. These platforms are constantly changing, and parents are busy, so we’re taking this off their plate. We’ll monitor it and let them know when there’s something major that happens that could put their child at risk.”

For convenience, Parent ProTech is web-based and mobile compatible, but with an update planned in the next few months, it will be more personalized based on the age of the child and the parent’s philosophy on social media and screen time.

Mission-driven origin with constant updates

Murphy founded the company without an application development background. Before creating Parent ProTech, Murphy took a very interesting path that brought him to the Houston area. First, he interned at the White House, then worked for SpaceX in Brownsville, Texas. After that, he was lured away to a company headquartered in Paris, France. That company, eventually sent him to Houston to open up a local branch office.

Murphy says he's routinely been asked by parents, teachers, administrators, and families about technology and how to keep their family safe online. That curiosity was the seed planted in early 2021 that sprouted into Parent ProTech and laid the foundation for the team’s mission to help parents understand technology and the role it plays in influencing the next generation.

So for those parents that have no idea what Discord or YikYak is or are still shaking their heads at the popularity of TikTok, with all of its sometimes disturbing viral challenges, Parent ProTech has it covered.

“Essentially what we’ve built is a database for families and schools to dive into the different platforms and understand them,” says Murphy. “We’re diving deep into these platforms so parents can quickly get what they need to put parental controls in place. This way, they can rest a little easier knowing that their children will see the content they want them to see and not be exposed to inappropriate content.”

Additionally, Parent ProTech wants to be able to equip parents with the tools to keep their children from talking to strangers online.

Parents, of course, love the idea for Parent ProTech, but it wasn’t as attractive to the kids on the business end of the restrictions and monitoring.

“It’s not an easy conversation because parents are scared of pushing their children away,” says the Texas A&M alum. “Kids don’t want their mom to know when they’re posting on TikTok. And that push/pull can sometimes put parents in a position where they are overwhelmed and can cause a paralysis state where they don’t do anything at all.

“I met with some sophomores in high school, and they weren’t keen on what we do, but then I told them the story about the family in San Diego where the oldest of three sons was approached by a pill pusher on Snapchat because the Snapchat map was turned on and there was Xanax delivered to the mailbox and it was laced with fentanyl and the son passed away," he continues. "Those are the kinds of stories that get the kids to listen to what we’re saying and the importance of monitoring the activity on these platforms.”

Involving the experts

The Parent ProTech team doesn’t just rely on real news fodder, though, it also regularly consults with therapists and developmental professionals for the best results.

“We talk to child psychologists and therapists on how we would recommend parents talk about the restrictions and the changes they make when they deep dive into these platforms,” says Murphy. “And what we’ve found is the education of the parents on what the platforms actually are is really important. That helps with conversation starters and plans like if a parent wants to limit their child’s screentime to 15 minutes a day.”

Parent ProTech isn’t just providing technology knowledge and parental controls, it’s also helping families monitor their digital footprint.

“What you post today could come back and haunt you when you apply to medical school or that dream job,” says Murphy. “So we focus on that and how we can promote safety and well-being of our interactions with each other online.”

Moving forward, one of Parent ProTech’s biggest goals, outside of being that one stop shop for families/parents when it comes to safely navigating technology, is also being pro technology and promoting the tools and excitement that all of this advancement has on kids and the positive activity that can come out of it.

“We also want parents and kids to realize the potential there is with all of this advancement and continue pushing that message,” says Murphy. “We’d also like to develop some AI tools to help with bullying and inappropriate content to help prevent scammers from taking advantage of kids and elderly.”

Murphy also wants to put his time on Capitol Hill to good use by helping to advocate for various policy changes in Washington D.C. and state capitals that will help protect children online.

“We have to build this army of parents that want more priority of safety when it comes to children online and part of that is parents being more engaged in what their kids are doing and we’re here to help foster that.”

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SpaceX IPO set to be biggest ever and could make Elon Musk a trillionaire

IPO News

SpaceX says it plans to raise up to $75 billion when it goes public this month, setting the stage for the largest-ever stock market debut and putting Elon Musk on course to becoming the world's first trillionaire.

The company, formally known as Space Exploration Technologies Corp., said Wednesday it will sell 555.6 million shares at $135 a piece in an initial public offering. The estimated proceeds would easily top the $26 billion raised by oil giant Saudi Aramco in 2019. The offering would also give SpaceX a market value of $1.77 trillion. Only six companies in the S&P 500 are currently worth more, with Nvidia tops at $5.2 trillion.

Besides the size of the offering and the expected proceeds, SpaceX's amended prospectus updates details about how much control of the company Musk will have. As SpaceX's CEO, chief technical officer and chairman, Musk's voting power will come primarily through his ownership of 5.22 billion Class B shares, which give the holder 10 votes for every share held. According to the filing, Musk would have 82.4% of the voting power in the company.

Forbes currently values Musk's net worth at $826 billion and his stake in SpaceX at $542 billion. The estimated value of his SpaceX holdings was based on an overall value for the company of $1.25 trillion. Based on those numbers, a $1.77 trillion valuation for SpaceX would boost Musk's net worth by $223 billion, making him a trillionaire. However, much of Musk's worth is in stock that he has yet to cash in.

Even as it makes a bid for a blockbuster market debut, SpaceX is currently losing billions of dollars a year. The filing shows that the company lost $2.6 billion from operations last year on $18.7 billion in revenue, and the losses kept piling up at the start of this year, too.

Fantastical plans

Time will tell how SpaceX fares on the market. Musk's plans for the company are as fantastical as the money he hopes raise in the sale.

Colorful, even frightening in parts, the IPO document strikes a contrast with the typically dry, technical prose in IPO documents, detailing plans to use proceeds from the sale to help put men on the moon again and perhaps even Mars. In one section, it talks of a need to build "a permanent human colony" on the red planet with "at least one million inhabitants" as existential threats loom that could consign man to "the same fate as the dinosaurs."

Musk has almost equally ambitious plans for his other publicly traded company, Tesla. His goal is to transform the maker of electric vehicles into a producer of robotaxis and humanoid robots. Dan Ives of Wedbush Securities wrote in a research note that he expects Tesla and SpaceX to merge next year.

AI plays a key role

Key to the success of both companies — and any merged entity — is artificial intelligence. In its IPO filing, SpaceX says it sees potential revenue from AI of up to $26.5 trillion. But that depends on another lofty Musk ambition — putting data centers in space, which is not technologically possible at the moment.

Transforming his space company into a primarily AI-focused company will be a challenge for Musk, who started xAI in 2023 with 11 other co-founders who have all since left. Some were recruited away by rivals.

Its main AI product, the chatbot Grok, is "less impressive than anything that we see from any other major player in the space, whether that's OpenAI, or Anthropic, or (Google's) Gemini," said IDC analyst Arnal Dayaratna.

Dayaratna said that doesn't mean SpaceX doesn't have potential as a major AI player, thanks in part to its computing partnership with Anthropic and Musk's recent deal that gave SpaceX the rights to buy AI coding tool Cursor for $60 billion later this year. Folding in Cursor's capabilities would give SpaceX access to the coveted business customers now using Anthropic's Claude or OpenAI's ChatGPT.

SpaceX plans to use the net proceeds from the IPO to fund the expansion of infrastructure for its AI and rocket businesses, and to beef up the constellation of satellites that power Starlink Mobile, among other investments.

The company plans to list on the Nasdaq under the symbol "SPCX" and could begin trading as soon as the end of next week.

And SpaceX isn't the only colossal market debut investors are now bracing for. Earlier this week, Anthropic submitted a confidential filing with the U.S. Securities and Exchange Commission to officially start its own IPO clock.

OpenAI has not yet reported filing the initial SEC paperwork, but an IPO from the ChatGPT maker is widely expected.

"This listing represents the first major test for public markets after years of muted IPO activity with SpaceX paving the way for AI giants Anthropic and OpenAI to follow soon after," Ives wrote.

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Associated Press Technology Writer Matt O'Brien contributed.

New UH survey reveals concerns over AI data center growth in Houston

data findings

A new report out of the University of Houston shows that area residents remain wary of the long-term effects of operating data centers.

The recent survey from the University of Houston’s latest SPACE City Panel, conducted by the Center for Public Policy at the Hobby School of Public Affairs, shows that while 85 percent of Houston-area residents use AI, nearly 63 percent oppose the construction of AI data centers within 1 mile of their homes.

Respondents’ concerns centered around data centers’ high energy demand and the area’s power grid reliability. According to the survey, 32 percent of residents who oppose local data center projects would be more likely to support the centers if they relied on renewable energy over fossil fuels.

“Respondents understand that AI can bring economic and educational benefits, but they are also concerned about the physical infrastructure needed to fuel AI, especially data centers,” Soran Mohtadi, post-doctoral fellow at the Hobby School and a researcher on the report, said in a news release. “This physical infrastructure demands more electricity and water, leading to environmental impacts.”

Experts estimate that 6.5 gigawatts of data center capacity will be added to the Texas grid by 2030. And Houston’s data center capacity is predicted to more than double by 2028.

The Electric Reliability Council of Texas also projects electricity demand could reach 218 gigawatts by 2031, which would be more than double the record peak set in August 2023. Data centers are expected to account for 86 gigawatts of that new demand.

Survey respondents also said they are concerned about the state's future water supply, given the large amounts of water that data centers need to stay cool.

In terms of who’s responsible for that issue, 57.6 percent of respondents said they put the onus on Texas lawmakers, while 31.5 percent say tech companies should be responsible.

Additionally, more than 75 percent of respondents believed that data center developers and technology companies—not residents—should bear the cost of infrastructure upgrades to support data centers.

“Every decision legislators make has implications on residents’ everyday lives and local infrastructure now and in the future,” Maria P. Perez Arguelles, lead researcher on the report and research assistant professor at the Hobby School, added in the news release. “This issue is going to become more important in years to come, so this is just the beginning.”

Read the full report here.

Houston-born Cemvita makes breakthrough in sustainable fuel production

clean fuels

Houston-based biotech company Cemvita announced that it recently reached a critical milestone in the development of its FermOil product, which can be used to create Sustainable Aviation Fuel (SAF) and other renewable fuels at industrial scale.

The company shared in a news release that it completed a 75,000-liter industrial fermentation run at Belgium's Bio Base Europe Pilot Plant.

The campaign achieved target technical metrics for the production of FermOil, Cemvita’s renewable natural oil (RNO). FermOil is produced from industrial crude glycerin, an industrial byproduct, as opposed to traditional sugar-based feedstocks used in many bio-oil fermentation processes. It's designed to be a drop-in feedstock for creating SAFs.

Cemvita had previously advanced its FermOil production process through multiple scale-up stages before successfully reaching the 75,000-liter demonstration campaign, according to the company.

“This is not just a fermentation milestone,” Moji Karimi, CEO at Cemvita, said in the release. “It is a blueprint for how existing industrial infrastructure can evolve into circular bioeconomy infrastructure. Every biodiesel plant generating crude glycerin is a potential platform for renewable natural oil production.”

The milestone also supports the deployment of Cemvita’s industrial biomanufacturing platform, FermWorks, which integrates with existing energy and industrial infrastructure to turn waste carbon streams into SAFs and other materials. According to the release, Cemvita plans to move forward with commercial deployment discussions with partners in Brazil, Europe and in the UK. Cemvita already has a partnership with the Brazilian sustainable research institution REMA.

“We are proud to support innovative companies like Cemvita in scaling breakthrough industrial biotechnology solutions,” Hendrik Waegeman, head of business operations at Bio Base Europe Pilot Plant, added in the release. “Successfully operating at the 75,000-liter scale using a feedstock such as crude glycerin highlights both the maturity of the technology and the quality of the scale-up execution achieved by the Cemvita team.”

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