There's a growing need for physician-scientists who can see from both sides of the table. Miguel Tovar/University of Houston

Physician-scientists are a group of specialized researchers at the intersection of medicine and technology. Earning both medical degrees and Ph.D.s, they offer a perspective beyond the scope of clinical practice.

Three such researchers discussed how they make the connections between discovery and patient care.

Why a dual education matters

Shaun Xiaoliu Zhang, director of the Center for Nuclear Receptors and Cell Signaling at the University of Houston and M.D. Anderson professor of biology and biochemistry, knows exactly what the clinical demands are.

"I can see from the M.D. perspective, but at the same time I have a Ph.D. — I know how to design research properly," he says. "In the clinic, you're faced with reality that a patient is struggling but you don't have the tools to treat those patients. If you engage in research you can create a tool."

Zhang says clinicians know the need but may struggle to design a solution. A Ph.D., on the other hand, may only know basic research.

Renowned hormone researcher Jan-Åke Gustafsson, Robert A. Welch professor of biology and biochemistry and founding director of the Center for Nuclear Receptors and Cell Signaling, agrees.

"The dual education makes it possible for you to see which diseases are in need of more research, drugs and so on," he says.

Physician-scientists are the driving force behind many advances of modern medicine.

"The way I look at it is, practicing medicine is relatively easy but coming up with the next diagnostic device or the next treatment for a disease is way more difficult, way more challenging," says Chandra Mohan, Hugh Roy and Lillie Cranz Cullen Endowed professor of biomedical engineering at UH.

"You see patients with certain diseases, and you know there's a dire need for better diagnostics, earlier treatment, earlier diagnosis with fewer side effects," he says.

While researchers spend time primarily in the laboratory and clinical practitioners interact with patients, they both want to make an impact.

"We have made some discoveries which have led to the development of new drugs and better understanding of certain diseases," says Gustafsson. "There's a great satisfaction that it may help people to get healthy."

Traditional research brings value to a university

The synergy of this dual education makes these investigators valuable not only to academia, but also to medical science.

"I can't imagine doing translational research without medical training," Zhang says. "If you have this part without the other, you don't know where to go. With medical training, you know exactly which direction to go."

Mohan echos that assessment.

"When you start doing research there are so many questions you can answer," he says. "Sometimes there are questions which are just too basic. They're too far removed from how it will impact a patient's life. So what are the most important questions? I think questions that really make a difference in the patient's life are the most important."

Zhang notes that the National Institutes of Health has switched its funding philosophy — once focused on basic science, it now is more interested in translational research, with a direct relationship to patient health.

As physician-scientists, these "translators" of medical research are able to bridge the chasm.

Amr Elnashai, vice president/vice chancellor of research and technology transfer at UH, says physician-scientists play an important role.

"The increasing importance of deploying technology in medicine renders it essential for a progressive research university to hire medical Ph.D. holders who are in an ideal position to bridge the gap between engineering and science on the one hand, and the broad field of medicine on the other," he says.

Research groups that bring both fields together not only have a much higher probability of impacting lives by adopting the latest technology in medical applications, he adds, but they also give interdisciplinary teams greater access to specific funding pursue such solutions.

In that sense, says Elnashai, medical Ph.D. researchers play an important part of the future research university.

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This article originally appeared on the University of Houston's The Big Idea.

Nitiya Spearman is the internal communications coordinator for the UH Division of Research.

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New Texas Stock Exchange officially begins trading in Dallas

Welcome to Y'all Street

Two-step aside, New York Stock Exchange and Nasdaq. The Dallas-based Texas Stock Exchange, nicknamed Y’all Street, just kicked off live trading with five stocks — and lots of Lone Star ambition.

“The Texas Stock Exchange aims to revitalize competition for [stock] issuers, establish the premier venue for listings, and create a world-class trading platform for all market participants,” the exchange says in a fact sheet.

The exchange — whose Texas-influenced nickname is a nod to New York City’s Wall Street — has collected at least $275 million in investments. The roughly 90 financial backers of TXSE include Bank of America, BlackRock, Charles Schwab, Citadel Securities, Dell Family Office, Fortress, Goldman Sachs, and JPMorgan Chase.

Representatives of TXSE couldn’t be reached for comment. On its website, the exchange calls itself “the most well-capitalized equities exchange to ever be approved” by the U.S. Securities and Exchange Commission (SEC).

Not to be outdone, NYSE has launched Dallas-based NYSE Texas and Nasdaq has expanded its presence in Dallas.

Y’all Street adds to Dallas-Fort Worth’s rising status as a major hub for financial services, with The Wall Street Journal naming North Texas the country’s second biggest financial hub after New York City.

“A homegrown national exchange means more jobs, more investment, and more growth opportunities for businesses and communities across the Lone Star State,” Gabriela von zur Muehlen, senior vice president and chief policy officer at the Texas Association of Business, told The Texas Tribune.

Bulent Temel, an associate professor of practice in economics at the University of Texas at San Antonio, told Texas Standard that TXSE “is going to boost the credibility of the Texas economy.”

Texas’ estimated gross domestic product (GDP), a yardstick for the size of an economy, climbed to a record-setting $2.9 trillion in 2025, making it the state with the second highest GDP after California. DFW’s estimated GDP in 2023 stood at $744.6 billion, eclipsing the GDP of many countries.

“The center of gravity for American capitalism is now headquartered in the Boom Belt,” Abbott proclaimed in April, referring to an 11-state region (including Texas) in the South and Southeast that’s seeing tremendous economic and population growth. “The Texas Stock Exchange is the natural extension of that capitalism. It ensures that capital markets will reflect the quadrant that is driving American growth.”

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This article originally appeared on CultureMap.com.

Orion vehicle manager reflects on Artemis II, looks to 2028 moon mission

Q&A

Humanity is finally headed back to the moon after more than half a century. This year's launch of the Artemis II mission in the Orion spacecraft put four crew members in lunar orbit and tested the new ship developed by Lockheed Martin.

Everything went smoothly, safely returning astronauts home, but there is always room to improve. InnovationMap chatted via email with Orion vehicle manager Branelle Rodriguez, shortly after a talk at The Ion, for insight on how Orion might perform in the future as the next lunar landing approaches in early 2028.

InnovationMap: How satisfied are you with the way Orion operated on this past mission?

Branelle Rodriguez: Orion performed exceptionally well during Artemis II, successfully demonstrating critical spacecraft capabilities, including life support systems, displays and controls, and executing manual piloting operations. Artemis II brought humans back to the moon, achieving key exploration and scientific imagery, while validating systems essential for future Artemis missions.

IM: What is the most important thing you learned about improving Orion for the next mission?

BR: The Artemis II mission provided invaluable insights into crew operations and spacecraft performance in a deep-space environment. With every mission, NASA applies lessons learned to continuously improve Orion’s operations, validate design and ensure mission readiness. Artemis II offered our first opportunity to evaluate several new systems and gain a deeper understanding of what it is like for astronauts to live and work inside the spacecraft. The operational, technical and human factors data collected are being integrated across the program to refine future missions, reduce risk and enhance overall mission success.

IM: How has Orion helped the mission to explore space?

BR: Orion is one of NASA’s foundational elements for human deep space exploration—not only supporting the mission but serving as a core component of it. It is currently the only spacecraft capable of carrying crew on deep space missions and returning them safely to Earth from the high speeds required from the vicinity of the moon. No other spacecraft has the technology to endure the extremes that come with human deep-space travel, such as advanced environmental and life support, navigation, communications, radiation shielding, and the world’s largest ablative heat shield to protect the astronauts during reentry into Earth’s atmosphere. Orion has already taken astronauts to explore space farther than ever before—252,756 miles from Earth— and will carry crews to the moon on future missions to explore the lunar South Pole region. The astronauts’ observations, samples, and data collected on these future missions will expand our understanding of our solar system and home planet.

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This conversation has been edited for brevity and clarity.

Houston VC funding nears $1B in first half of 2026, report says

by the numbers

Despite a weak second quarter, venture capital funding for Houston-area startups approached $1 billion in the first half of 2026, the region’s highest first-half total since 2022, according to the latest PitchBook-NVCA Venture Monitor.

This year’s first-half total of $962.4 million represented a nearly 8 percent increase over last year’s first-half total of $891.7 million. Dating back to 2016, this year’s first-half haul lags behind only 2021 and 2022 for the most first-half funding.

Houston’s year-over-year VC jump of 73 percent in the first quarter of 2026 more than made up for the year-over-year drop of 34 percent in the second quarter of 2026, according to the report.

Deal count tells a more encouraging story: Houston startups closed 102 deals in the first half, up from 93 a year earlier and the region’s busiest first half since 2022. However, the average deal size shrank, as no single funding source dominated the total.

Keep in mind that PitchBook and NVCA routinely revise quarterly numbers upward to reflect deals that were reported after a previous quarter’s data was published. So, in the case of Houston, numbers initially reported for the first quarter of 2026 may not match newly reported numbers.

Perhaps the most notable Houston-area deal announced in the first half of this year was Cart.com’s $180 million growth equity investment, led by Springcoast Partners. Cart.com is an e-commerce platform and logistics provider.

PitchBook-NVCA data shows Houston’s VC activity is growing modestly, delivering better numbers in the first half of 2026 versus 2024 and 2025, but it still sits below the highs of 2021 and 2022. This is one sign that so far in 2026, the national VC boom isn’t benefiting non-hub markets like Houston the way it’s boosting some hub markets, especially Silicon Valley and New York City.

Nationwide, AI dominated VC funding in the first half of this year. The sector made up 86 percent of VC from January through June. The report notes that the markets have still struggled to unlock IPOs, with SpaceX being the biggest exception, and few M&A deals outside health care have been significant.