5 most popular innovation stories in Houston this week

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Austin-based FIRMSPACE opening a Houston location was among this week's top stories. Courtesy of FIRMSPACE

Editor's note: News this week's news was full of major money moves, a new workspace, and more.

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Why it's important for Texas startups to get funding within the Lone Star State

Texas startups should be getting funded with Texas money, and here's why. Getty Images

When you set out to disrupt a long-standing industry, one of the most important aspects is figuring out where you are going to get the money. Odds are, you are going to be OK with breaking the mold on other traditional practices such as forgoing the venture capitalist firms for smaller companies who share your innovative vision and want to invest in it.

That philosophy works well in Texas seeing as the big venture capitalists tend to stay on the East and West Coasts.

There are dozens of things to think about when starting a company. Funding can be the most important, and there are many ways to approach raising funding for your startup. Here are a few things to consider. Continue reading the article here.

Rice University startup competition awards record $2.9 million in prizes

The winner of the Rice Business Plan Competition walked away with over $700,000 in prizes. Courtesy of Rice University

On Saturday, over 20 organizations were prepared to write checks to entrepreneurs competing in the Rice Business Plan Competition, but the largest and richest student business plan competition doled out almost double what it initially intended to award.

Earlier this year, Rice University announced the 42 teams that would be competing for $1.5 million in prizes, but ended up giving out a record $2.9 million. While a few organizations announced they had trouble picking a single company and named two recipients, Houston-based GOOSE Society surprised everyone with almost $1 million in unexpected prizes. Continue reading the article here.

New high-end workspace opens in Houston's Galleria area

Austin-based FIRMSPACE has opened its third location in Houston with a 32,000-square-foot space in BBVA Compass Plaza. Courtesy of FIRMSPACE

Houston's getting another high-end coworking space. FIRMSPACE, an Austin-based company, selected Houston as its third location.

With 32,000 square feet of space, FIRMSPACE Houston is open for business in BBVA Compass Plaza (2200 Post Oak Boulevard) on the 10th and 11th floors of the 22-story building. The company opened its first location in Austin, followed by a Denver location last December. Continue reading the article here.

3 Houston innovators to know this week

From making major deals to advancing future innovators, here are three Houston leaders to know this week. Courtesy photos

This week's movers and shakers in Houston innovation are dealmakers and leaders — from securing huge partnerships to influencing the next generation of inventors. These are the three innovators to know in Houston this week. Continue reading the article here.

Houston energy storage software company inks major deal with Canadian tech co.

Houston-based Pason Power just inked a major deal that's giving it an edge in the industry. Getty Images

Houston-based Pason Power, which provides Internet of Things services to energy storage and solar providers, has been quietly innovating in the energy industry for years. And earlier this year, Pason Power inked a partnership with a multimillion-dollar energy tech company that's quickly expanding its US footprint.

Since it launched as a wholly owned subsidiary of Calgary-based Pason Systems Inc. in 2016, Pason Power offers an array of technologies — including AI, IoT, real-time automation — that support energy storage systems throughout a project's lifecycle. Energy storage systems is a wide umbrella that includes everything from the massive systems used to store renewable energy and biofuels, to household batteries, which store electricity. Continue reading the article here.

From making major deals to advancing future innovators, here are three Houston leaders to know this week. Courtesy photos

3 Houston innovators to know this week

Who's who

Rakesh Agrawal, CEO of SnapStream

Courtesy of SnapStream

A Houston tech innovator just made a deal with Verizon. Verizon Digital Media Services announced that SnapStream is the "official transition partner" for a product under Volicon Observer, a company that was acquired by Verizon in 2016. SnapStream's CEO Rakesh Agrawal says in a release that the two entities have similar products, features, and even customers, but have always had a respectful relationship.

"SnapStream is known, among other things, for the great support we provide, and we look forward to providing the same high-quality support to Volicon customers," Agrawal says in the release. "We hope to eventually earn the business of current Volicon customers by converting them into SnapStream customers." Read the full story here.

Enrico Ladendorf, founder and managing partner of Pason Power

Courtesy of Pason Power

Another Houston dealmaker is Enrico Ladendorf, founder and managing partner of Pason Power. In layman's terms, Pason Power offers an array of technologies — including AI, IoT, real-time automation — that support energy storage systems throughout a project's lifecycle. Energy storage systems is a wide umbrella that includes everything from the massive systems used to store renewable energy and biofuels, to household batteries, which store electricity.

"We have intelligent energy management system, which is an intelligent brain that sits inside an energy storage system," says Ladendorf. "We have this intelligent, fully-autonomous system that knows the physical operation of (energy storage and drill rigs), and it makes it brain-dead simple." Read the full story here.

Pam Rosen, general manager of the Shell Eco-marathon

Courtesy of Shell

Houstonian Pam Rosen lead Shell's Eco-marathon, which took place from April 3 to 6. Two student teams represented Houston in the competition — one from Rice University and James E. Taylor High School.

"We really needed to get more young people interested in technology careers," says Pam Rosen, general manager of the Shell Eco-marathon. "It [doesn't] even need to be with Shell. It's more about the method, science, and helping [students[ gravitate toward those opportunities."Read the full story here.

Houston-based Pason Power just inked a major deal that's giving it an edge in the industry. Getty Images

Houston energy storage software company inks major deal with Canadian tech co.

Energizing plans

"We have intelligent energy management system, which is an intelligent brain that sits inside an energy storage system," says Enrico Ladendorf, founder and managing partner of Pason Power. "We have this intelligent, fully-autonomous system that knows the physical operation of (energy storage), and it makes it brain-dead simple."

Pason's latest deal is one that'll help it continue to expand into the U.S. and Canadian markets. The company's iEMS, or intelligent energy management system, was chosen to service Eguana Technologies, a large Canadian energy storage company that reported $2.8 million in 2018 revenue, per the company's public filings, and $7 million in sales in 2018.

The deal arose from Pason Power's history with Eguana Technologies. A member of Pason Systems' leadership team has known one of Eguana's founders, Brent Harris, for more than 20 years.

"When (Pason Power) got into new ventures, and we were looking into renewables, we talked to Brent," Ladendorf says. Ladendorf adds that the companies Eguana was working with were "not very good," and that there weren't a lot of alternatives in the space.

Ladendorf declined to provide financial details associated with the deal, but said Pason Power is continuing to growing its footprint in the commercial energy sector.

"The opportunity is quite large," Ladendorf says.

Ninety five percent of the drilling rigs that Pason Systems services are in Canada, Ladendorf says, but its U.S. business is its most profitable.

"We have a huge presence (in Canada)," Ladendorf says of Pason Systems. "We are the highest market-cap oilfield services company on the Toronto stock exchange."

As of press time, shares of Pason Systems Inc. were trading at $19.97, down $0.34 from the market's opening.

Enrico Ladendorf is the founder and managing partner of Houston-based Pason Power.Courtesy of Pason Power

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Trailblazing Houston entrepreneur brings big ideas to new Yahoo Finance show

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Elizabeth Gore, co-founder and president of Houston's Hello Alice, debuted the first episode of her new video podcast series with Yahoo Finance on Thursday, April 24.

The weekly series, known as "The Big Idea with Elizabeth Gore," will focus on providing information and resources to small business owners and sharing stories of entrepreneurship, according to a news release from Yahoo Finance.

“Entrepreneurs and small business owners drive our country’s economy forward. With a record number of small businesses launching in our communities, my goal is to help every citizen live the American Dream. On the Big Idea, we will break down barriers for entrepreneurs and lift up opportunities for every person wanting to be their own boss,” Gore said in the release.

“By hosting the 'Big Idea' on Yahoo Finance, I’m looking forward to elevating business owners’ stories and providing actionable insights to small business owners at a scale like never before. I am blown away to be joining the number one finance news source that is already trusted by so many.”

Gore was joined by Hello Alice co-founder and CEO Carolyn Rodz in the premiere episode, titled "Got a big idea for a small business? Here's your first step," to discuss the steps they took when launching the business.

Gore and Rodz founded Hello Alice in 2017. The fintech platform supports over 1.5 million small businesses across the nation. It has helped owners access affordable capital and credit and distributed over $57 million in grants to businesses across various industries. The company raised a series C round backed by Mastercard last year for an undisclosed amount and reported that the funding brought the company's valuation up to $130 million at the time.

According to Yahoo Finance, Gore's experience and expertise build on its "mission to be the trusted guide of financial information to all investors, and democratize access to quality content."

“Over the past year, we invested in expanding our programming lineup with the launch of new shows and podcasts, and welcomed new financial creators and influencers into our newsroom,” Anthony Galloway, head of content at Yahoo Finance, added the release. “By diversifying our programming and talent roster, Yahoo Finance is introducing unique points-of-view that make financial topics more engaging, actionable, and personalized. Small business owners are a vital part of our audience, so we’re excited to welcome Elizabeth Gore from Hello Alice, whose insights and expertise will help us serve and connect with this important cohort in meaningful ways.”

The show is available on Spotify, Apple Podcasts, iHeart, Pandora, and Amazon Music for listening. Streamers can view it on yahoofinance.com, Amazon Prime Video, Samsung TV, Fire TV, Vizio, Haystack, DirectTV and other streaming platforms. Watch the premiere here:

7 top Houston researchers join Rice innovation cohort for 2025

top of class

The Liu Idea Lab for Innovation and Entrepreneurship (Lilie) has announced its 2025 Rice Innovation Fellows cohort, which includes students developing cutting-edge thermal management solutions for artificial intelligence, biomaterial cell therapy for treating lymphedema, and other innovative projects.

The program aims to support Rice Ph.D. students and postdocs in turning their research into real-world solutions and startups.

“Our fourth cohort of fellows spans multiple industries addressing the most pressing challenges of humanity,” Kyle Judah, Lilie’s executive director, said in a news release. “We see seven Innovation Fellows and their professors with the passion and a path to change the world.”

The seven 2025 Innovation Fellows are:

Chen-Yang Lin, Materials Science and Nanoengineering, Ph.D. 2025

Professor Jun Lou’s Laboratory

Lin is a co-founder of HEXAspec, a startup that focuses on creating thermal management solutions for artificial intelligence chips and high-performance semiconductor devices. The startup won the prestigious H. Albert Napier Rice Launch Challenge (NRLC) competition last year and also won this year's Energy Venture Day and Pitch Competition during CERAWeek in the TEX-E student track.

Sarah Jimenez, Bioengineering, Ph.D. 2027

Professor Camila Hochman-Mendez Laboratory

Jimenez is working to make transplantable hearts out of decellularized animal heart scaffolds in the lab and the creating an automated cell delivery system to “re-cellularize” hearts with patient-derived stem cells.

Alexander Lathem, Applied Physics and Chemistry, Ph.D. 2026

Professor James M. Tour Laboratory

Lathem’s research is focused on bringing laser-induced graphene technology from “academia into industry,” according to the university.

Dilrasbonu Vohidova is a Bioengineering, Ph.D. 2027

Professor Omid Veiseh Laboratory

Vohidova’s research focuses on engineering therapeutic cells to secrete immunomodulators, aiming to prevent the onset of autoimmunity in Type 1 diabetes.

Alexandria Carter, Bioengineering, Ph.D. 2027

Professor Michael King Laboratory

Carter is developing a device that offers personalized patient disease diagnostics by using 3D culturing and superhydrophobicity.

Alvaro Moreno Lozano, Bioengineering, Ph.D. 2027

Professor Omid Veiseh Lab

Lozano is using novel biomaterials and cell engineering to develop new technologies for patients with Type 1 Diabetes. The work aims to fabricate a bioartificial pancreas that can control blood glucose levels.

Lucas Eddy, Applied Physics and Chemistry, Ph.D. 2025

Professor James M. Tour Laboratory

Eddy specializes in building and using electrothermal reaction systems for nanomaterial synthesis, waste material upcycling and per- and polyfluoroalkyl substances (PFAS) destruction.

This year, the Liu Lab also introduced its first cohort of five commercialization fellows. See the full list here.

The Rice Innovation Fellows program assists doctoral students and postdoctoral researchers with training and support to turn their ideas into ventures. Alumni have raised over $20 million in funding and grants, according to Lilie. Last year's group included 10 doctoral and postdoctoral students working in fields such as computer science, mechanical engineering and materials science.

“The Innovation Fellows program helps scientist-led startups accelerate growth by leveraging campus resources — from One Small Step grants to the Summer Venture Studio accelerator — before launching into hubs like Greentown Labs, Helix Park and Rice’s new Nexus at The Ion,” Yael Hochberg, head of the Rice Entrepreneurship Initiative and the Ralph S. O’Connor Professor in Entrepreneurship, said in the release. “These ventures are shaping Houston’s next generation of pillar companies, keeping our city, state and country at the forefront of innovation in mission critical industries.”

Houston startup Collide secures $5M to grow energy-focused AI platform

Fresh Funds

Houston-based Collide, a provider of generative artificial intelligence for the energy sector, has raised $5 million in seed funding led by Houston’s Mercury Fund.

Other investors in the seed round include Bryan Sheffield, founder of Austin-based Parsley Energy, which was acquired by Dallas-based Pioneer Natural Resources in 2021; Billy Quinn, founder and managing partner of Dallas-based private equity firm Pearl Energy Investments; and David Albin, co-founder and former managing partner of Dallas-based private equity firm NGP Capital Partners.

“(Collide) co-founders Collin McLelland and Chuck Yates bring a unique understanding of the oil and gas industry,” Blair Garrou, managing partner at Mercury, said in a news release. “Their backgrounds, combined with Collide’s proprietary knowledge base, create a significant and strategic moat for the platform.”

Collide, founded in 2022, says the funding will enable the company to accelerate the development of its GenAI platform. GenAI creates digital content such as images, videos, text, and music.

Originally launched by Houston media organization Digital Wildcatters as “a professional network and digital community for technical discussions and knowledge sharing,” the company says it will now shift its focus to rolling out its enterprise-level, AI-enabled solution.

Collide explains that its platform gathers and synthesizes data from trusted sources to deliver industry insights for oil and gas professionals. Unlike platforms such as OpenAI, Perplexity, and Microsoft Copilot, Collide’s platform “uniquely accesses a comprehensive, industry-specific knowledge base, including technical papers, internal processes, and a curated Q&A database tailored to energy professionals,” the company said.

Collide says its approximately 6,000 platform users span 122 countries.

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

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