10 years in: Houston entrepreneur reflects on lessons learned

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. The truth is that entrepreneurship is hard. It requires grit, humility, persistence, and the courage to rise above challenges. But it’s also one of the most rewarding ventures you can take on. Photo via Getty Images

Just as the job market is soaring, so is the state of entrepreneurship in America. And increasingly, people are launching their businesses in Houston.

As InnovationMap reported, our city is a top startup ecosystem, now ranked among the top 50 in the world. One of the fastest-growing sectors is climate tech. According to a recent analysis, the global climate tech market is expected to reach a massive $162 billion by 2033.

All those big numbers boil down to individual, hardworking people with high hopes, big dreams, and a willingness to take risks. Maybe that includes you.

This month, my company reached a milestone. We’ve been around for a decade, which means we’ve beaten the odds. An estimated two-thirds of businesses fail within 10 years. This has been nothing short of a chaotic, exhilarating, and sometimes unforgiving journey. I've been blessed and cursed, from hurricanes to a pandemic, losing my vision to filming documentaries, serving in the US Department of Energy during two administrations to an epic ringing of the closing bell on Wall Street. The successes have been sweet, but the lessons learned are the real treasure.

Here are my five biggest takeaways from a decade in the trenches of entrepreneurship.

Master your market

A deep understanding of the market is crucial to achieve success. By delving into the intricacies of how it operates, identifying gaps you can fill, and engaging with individuals and companies eager to see those gaps addressed, you lay the foundation for a viable and impactful venture. Building credibility and establishing a network over the long term opens doors. I experienced this firsthand in the oil and gas, where my market knowledge and 15 years of experience allowed me to create a business that champions the energy workforce of the future.

However, markets are constantly evolving, and even more so today than ever. It’s hard to bring things to market, so master the market, and listen to the voice of the customer to stay ahead.

Takeaway:

Embrace the power of market mastery and credibility to pave the path to success.

Grit is everything

When I think of resilience, one image stands out—the "man in the arena." (Or I should say the woman!). It's a metaphor often cited, and for good reason. What are you even doing if you're not stepping into the ring, getting your hands dirty, and taking the punches? Grit is what keeps you moving when the odds are against you. Change is inevitable; challenges will come. But grit? That’s what pushes you to stand back up and keep going. If you’re an entrepreneur, there’s no room for half-hearted effort. You're either in the ring or watching from the sidelines.

Takeaway:

The ability to endure setbacks and adapt separates those who thrive from those who fold.

You need more than you think

A hard truth I’ve learned the painful way. When I first started Pink Petro, a mentor of mine and now very successful entrepreneur turned investor told me to “Don’t take capital until you need it.” His advice helped me keep a large percentage of ownership in my company, however I learned that you will always need more time, money, and resources than anticipated. As a solo founder, it is easy to underestimate the financial and emotional cost of building something from scratch, alone. Whether it’s product development, marketing, an acquisition or hiring top talent, it all takes capital.

Takeaway:

Plan. Then, double that plan. Odds are, you’ll need it.

Ask without fear

Whether seeking investment, resources or support, learning to ask for what you need is a game-changer. This one didn’t come naturally to me—I had to lean in and push past the stubbornness of “never needing anyone’s help”. Here’s the truth: most people are afraid to ask. But asking is often what gets you one step closer to your goals. Whether it’s a pitch to an investor or a favor from a mentor, the worst someone can say is “no.” And in business, a "no" is just a chance to refine your pitch for the next opportunity.

Takeaway:

Advocating for your needs isn’t selfish—it’s essential.

The sharks are in the water

Building something meaningful attracts all kinds of attention. Over the years, I’ve dealt with doubters, copycats, and even former allies. At first, it stung. But then I realized something important -- sharks will always show up if you’re making waves. It’s a sign you’re on the right path. The key is to stay focused on your vision and not get distracted

by the noise.

Takeaway:

If you have skeptics and imitators, take it as validation that what you’re doing matters.

Bonus lesson: Put your mask on

This one is personal. Here’s the thing—if you’re running on empty, you’re no good to your business, team, or yourself. That’s when I learned the importance of self-care. It’s not selfish—it’s survival.

Takeaway:

Take care of yourself first. Your business depends on it.

Looking back, ten years feels like a lifetime. The truth is that entrepreneurship is hard. It requires grit, humility, persistence, and the courage to rise above challenges. But it’s also one of the most rewarding ventures you can take on.

If you’re out there building something, keep going. Step into the ring. Learn from every fall. Trust yourself, and never stop moving forward—you might surprise yourself with how far you can go.

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Katie Mehnert is founder and CEO of ALLY Energy, formerly Pink Petro and serves on the National Petroleum Council.

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How is technology affecting the energy sector? These experts weigh in. Getty Images

Overheard: Houston energy experts share how tech and startups are affecting the industry

eavesdropping in houston

Last week, Houston-based Pink Petro hosted its annual conference — but, quite like other events across the country, it took a very digital approach.

Energy 2.0, formerly called HerWorld, was always going to be streamed from two locations — Denver and Houston — but the conference, which took place from March 9 to 11, likely had more digital attendees than previous years thanks to the rising threat of COVID19, or the coronavirus.

The digital shift was pretty on par with the conversation of the "unconference," as its called. The last panel of March 10 was how tech was rattling the energy industry. Three panelists discussed the effect of technology on the industry, climate change, startups, and more. Here are some of the panelists best points made during this event.

“Technology isn’t new to the energy sector. The energy sector is used to adopting and adapting to new technologies. What we are talking about now is digital technology, and what’s happening there — we are not familiar with that.”

— Geeta Thakorlal, president at Worley Digital. It's not innovation that's unfamiliar to energy companies, but the digital aspect, which includes introducing new tech from outside the industry. "When you talk about adoption and use of digital technology, it means different things to different people," she adds.

"We’re taking a look at technology, but also addressing the people [aspect] — looking at what people are doing with technology and how the social issues are impacted by technology."

— Jennifer Hohman, CIO and vice president, at Seadrill. The conversation started with a broad scope on how the energy industry is approaching technology, and Hohman cites climate change and sex trafficking — two issues the industry has been affecting.

“As society is changing, we start to worry about people’s safety — that’s very natural in our industry, but moving that into what about social issues or even renewables."

— David Reid, CMO of National Oilwell Varco. Reid adds that the energy industry is aware of its role in the world and has a people-centric approach to technology, including being aware of how it affects the people involved in the energy company's supply chain. "I think it all ties together."

“Technology is constantly going to move fast — we have to continue to face that.”

— Hohman says on the energy industry adapting to technology, adding that tech allows for more collaboration — something energy companies should be doing, even if it means collaborating with a competitor.

"What the tech sector has done is actually helped energy industry because they challenged all these norms — diversity of thought, fail and fail fast — you don't use that language in the energy sector."

— Thakorlal says, explaining that influences from the tech sector have been crucial. Ultimately, big tech companies are looking to small startups for innovation, and energy companies will be doing more of that as well. "The tech companies have had to learn it's not they who has got the solutions, and the energy sector has learned that too."

“We’ve got a world that wants a change, and does not know and understand what we’ve done.”

— Reid says on the topic of the energy industry's role in the future of the sector. "What's missing is the potential of our industry to make a difference."

“The biggest barrier to advancing technology is fear — people not really understanding. Fear is a choice.”

— Thakorlal says, adding that fear is a choice companies can make — but shouldn't. Instead, they should maintain their business while simultaneously adopting tech that will be key in the future. "We say in our organization that if you talk about energy transition or digital transformation in our sector, it's not an 'either/or' it's an 'and.' We have to keep doing what we are doing and transition that to what we want the future to be."

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Texas tops ranking of best state for investors in new report

by the numbers

Texas ranks third on a new list of the best states for investors and startups.

Investment platform BrokerChooser weighed five factors to come up with its ranking:

  • 2024 Google search volume for terms related to investing
  • Number of investors
  • Number of businesses receiving investments in 2024
  • Total amount of capital invested in businesses in 2024
  • Percentage change in amount of investment from 2019 to 2024

Based on those figures, provided mostly by Crunchbase, Texas sits at No. 3 on the list, behind No. 1 California and No. 2 New York.

Especially noteworthy for Texas is its investment total for 2024: more than $164.5 billion. From 2019 to 2024, the state saw a 440 percent jump in business investments, according to BrokerChooser. The same percentages are 204 percent for California and 396 percent for New York.

“There is definitely development and diversification in the American investment landscape, with impressive growth in areas that used to fly under the radar,” says Adam Nasli, head analyst at BrokerChooser.

According to Crunchbase, funding for Texas startups is off to a strong start in 2025. In the first three months of this year, venture capital investors poured nearly $2.9 billion into Lone Star State companies, Crunchbase data shows. Crunchbase attributes that healthy dollar amount to “enthusiasm around cybersecurity, defense tech, robotics, and de-extincting mammoths.”

During the first quarter of this year, roughly two-thirds of VC funding in Texas went to just five companies, says Crunchbase. Those companies are Austin-based Apptronik, Austin-based Colossal Biosciences, Dallas-based Island, Austin-based NinjaOne, and Austin-based Saronic.

Autonomous truck company rolls out driverless Houston-Dallas route

up and running

Houston is helping drive the evolution of self-driving freight trucks.

In October, Aurora opened a more than 90,000-square-foot terminal at a Fallbrook Drive logistics hub in northwest Houston to support the launch of its first “lane” for driverless trucks—a Houston-to-Dallas route on the Interstate 45 corridor. Aurora opened its Dallas-area terminal in April and the company began regular driverless customer deliveries between the two Texas cities on April 27.

Close to half of all truck freight in Texas moves along I-45 between Houston and Dallas.

“Now, we are the first company to successfully and safely operate a commercial driverless trucking service on public roads. Riding in the back seat for our inaugural trip was an honor of a lifetime – the Aurora Driver performed perfectly and it’s a moment I’ll never forget,” Chris Urmson, CEO and co-founder of Pittsburgh-based Aurora, said in a news release.

Aurora produces software that controls autonomous vehicles and is known for its flagship product, the Aurora Driver. The software is installed in Volvo and Paccar trucks, the latter of which includes brands like Kenworth and Peterbilt.

Aurora previously hauled more than 75 loads per week under the supervision of vehicle operators from Houston to Dallas and Fort Worth to El Paso for customers in its pilot project, including FedEx, Uber Freight and Werner. To date, it has completed over 1,200 miles without a driver.

The company launched its new Houston to Dallas route with customers Uber Freight and Hirschbach Motor Lines, which ran supervised commercial pilots with Aurora.

“Transforming an old school industry like trucking is never easy, but we can’t ignore the safety and efficiency benefits this technology can deliver. Autonomous trucks aren’t just going to help grow our business – they’re also going to give our drivers better lives by handling the lengthier and less desirable routes,” Richard Stocking, CEO of Hirschbach Motor Lines, added in the statement.

The company plans to expand its service to El Paso and Phoenix by the end of 2025.

“These new, autonomous semis on the I-45 corridor will efficiently move products, create jobs, and help make our roadways safer,” Gov. Greg Abbott added in the release. “Texas offers businesses the freedom to succeed, and the Aurora Driver will further spur economic growth and job creation in Texas. Together through innovation, we will build a stronger, more prosperous Texas for generations.”

In July, Aurora said it raised $820 million in capital to fuel its growth—growth that’s being accompanied by scrutiny.

In light of recent controversies surrounding self-driving vehicles, the International Brotherhood of Teamsters, whose union members include over-the-road truckers, recently sent a letter to Lt. Gov. Dan Patrick calling for a ban on autonomous vehicles in Texas.

“The Teamsters believe that a human operator is needed in every vehicle—and that goes beyond partisan politics,” the letter states. “State legislators have a solemn duty in this matter to keep dangerous autonomous vehicles off our streets and keep Texans safe. Autonomous vehicles are not ready for prime time, and we urge you to act before someone in our community gets killed.”

Houston cell therapy company launches second-phase clinical trial

fighting cancer

A Houston cell therapy company has dosed its first patient in a Phase 2 clinical trial. March Biosciences is testing the efficacy of MB-105, a CD5-targeted CAR-T cell therapy for patients with relapsed or refractory CD5-positive T-cell lymphoma.

Last year, InnovationMap reported that March Biosciences had closed its series A with a $28.4 million raise. Now, the company, co-founded by Sarah Hein, Max Mamonkin and Malcolm Brenner, is ready to enroll a total of 46 patients in its study of people with difficult-to-treat cancer.

The trial will be conducted at cancer centers around the United States, but the first dose took place locally, at The University of Texas MD Anderson Cancer Center. Dr. Swaminathan P. Iyer, a professor in the department of lymphoma/myeloma at MD Anderson, is leading the trial.

“This represents a significant milestone in advancing MB-105 as a potential treatment option for patients with T-cell lymphoma who currently face extremely limited therapeutic choices,” Hein, who serves as CEO, says. “CAR-T therapies have revolutionized the treatment of B-cell lymphomas and leukemias but have not successfully addressed the rarer T-cell lymphomas and leukemias. We are optimistic that this larger trial will further validate MB-105's potential to address the critical unmet needs of these patients and look forward to reporting our first clinical readouts.”

The Phase 1 trial showed promise for MB-105 in terms of both safety and efficacy. That means that potentially concerning side effects, including neurological events and cytokine release above grade 3, were not observed. Those results were published last year, noting lasting remissions.

In January 2025, MB-105 won an orphan drug designation from the FDA. That results in seven years of market exclusivity if the drug is approved, as well as development incentives along the way.

The trial is enrolling its single-arm, two-stage study on ClinicalTrials.gov. For patients with stubborn blood cancers, the drug is providing new hope.

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