TMCx company receives investment from Houston VC, UH program recognized, and more innovation news

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A TMCx company has raised money in Houston, UH's online program named best in the nation, and more Houston innovation news. Courtesy of TMCx

Houston's innovation ecosystem has seen a busy January so far — the city has claimed a unicorn in High Radius, The Ion has named a series of new execs, and so much more.

Given this influx of news, you might've missed some other Houston innovation headlines, like UH being recognized for its online master's program, recent fundings, and Texas being named a state for female entrepreneurs. Here's a few short stories to catch you up.

Texas Halo Fund invests in TMCx company

Photo via kegg.tech

A medical device company that focuses on keeping its female users in control of their fertility health just received an investment from a Houston venture capital firm.

Texas Halo Fund invested $200K in kegg, a San Francisco-based startup that participated in the Texas Medical Center's TMCx09 cohort. The device is an easy-to-use fertility tracker that easily analyzes cervical fluid to help detect a woman's ovulation up to 7 days in advance. Kegg pairs with a smartphone app to inform and track the user's fertility.

"kegg appeals to us for many reasons. We believe the FemTech space is growing and that women are looking take charge of their fertility. There is an increased desire to have insights into one's health and understanding trends in fertility is a natural progression, says Kyra Doolan, managing Director at Texas Halo Fund, in a news release.

"We've been impressed by the company's CEO Kristina Cahojova and how far she's taken the company with a limited budget. We look forward to seeing the product hit the consumer market."

University of Houston recognized for online graduate program

Photo courtesy of University of Houston

The University of Houston's College of Education's online master's degree programs have been recognized by U.S. News & World Report as among the top in the nation.

The college ranked No. 8 for its program in a ranking that factored in student engagement, technology tools, surveys of deans, faculty credentials, and student excellence, according to a news release from UH.

"Our faculty and staff strive to give students a top-notch experience online," says Bob McPherson, dean of the UH College of Education, in the news release. "We work to emphasize high-quality instruction and support while allowing students the flexibility and personalization of an online learning environment."

UH's program tied for No. 8 with six other schools, but it's still a huge step up from last year's ranking of No. 19.

Texas ranks No. 5 for female entrepreneurs

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According to a new ranking from Fit Small Business, Texas is the fifth best state for female entrepreneurs. The Lone Star State is holding strong in the top tier but slipped from its No. 1 ranking last year.

"High start-up growth, no corporate income tax, and a moderate cost of living are all big pluses for the state, but how does it do regarding a friendly women's business and safety climate?" the report reads. "Well, sort of 'middle-of-the-road,' by the numbers we sourced."

Each state was evaluated by four equally weighted factors: its general business climate and opportunity, the number of female-owned businesses, economic and financial health, and safety and well-being for women. Texas's startup climate and opportunity, which was weighted by 35 percent in the study, was ranked No. 4. When it came to economic and financial health, weighted at 15 percent, Texas also snagged the No. 4 spot.

Rice Business Plan Competition startup raises $1.1 million

Photo via resonado.com

Resonado, the runner-up at the 2019 Rice Business Plan Competition, has raised $1.1 million in funding for its thinner, better-sounding speaker system technology.

The company was founded by four University of Notre Dame University classmates — Brian Cho, Christian Femrite, Erik Perez-Perez, and Peter Moeckel.

Rice University's OWL Investment contributed to the round.

Fannin Innovation Studio makes strategic hire

Praveen Kudithipudi

Photo via fannininnovation.com

Praveen Kudithipudi has been named as director of business development at Houston-based Fannin Innovation Studio. He supports the licensing of Fannin's portfolio technologies as well as collaborations with pharmaceutical companies and academic partners.

"I am excited to have a wonderful opportunity to work at Fannin," says Kudithipudi in the news release. "Fannin builds successful life sciences startups while helping to catalyze the formation of a thriving and sustainable life sciences entrepreneurship ecosystem in Houston. The opportunity to lead licensing, diligence, and collaboration efforts with academic institutions and biotechnology companies here in Houston is truly a unique opportunity."

Kudithipudi received his medical degree in India and specialized in neuroscience in the United Kingdom. He received his MBA from New York University. Prior to this role, he worked in banking, venture capital, and investments in New York.

"We are excited to have someone with the range of experiences and caliber of Praveen on the team," says Atul Varadhachary, Fannin managing partner, in the release. "In our business, we look for high potential technologies at an early stage. Having someone with both a medical background and Wall Street know-how is invaluable to us as we review opportunities and reach out to prospective development partners."

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Rice Alliance names Houston healthtech exec as first head of platform

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The Rice Alliance for Technology and Entrepreneurship has named its first head of platform.

Houston entrepreneur Laura Neder stepped into the newly created role last month, according to an email from Rice Alliance. Neder will focus on building and growing Houston’s Venture Advantage Platform.

The emerging platform, which is being promoted by Rice Alliance and the Ion, aims to connect founders with the "people, capital and expertise they need to scale."

"I’ve spent a lot of time thinking about what it takes to make an innovation ecosystem more navigable, more connected, and more useful for founders," Neder said in a LinkedIn post. "I’m grateful for the opportunity to do that work at Rice Alliance, alongside a team with a long history of supporting entrepreneurship and innovation."

"Houston has the talent, institutions, and industry base to create real advantage for founders," she added. "I’m looking forward to listening, learning, and building stronger pathways across the ecosystem."

Neder most recently served as CEO of Houston-based Careset, where she helped bring the Medicare data startup to commercialization. Prior to that, Neder served as COO of Houston-based telemedicine startup 2nd.MD, which was acquired for $460 million by Accolade in 2021.

"Laura brings a rare combination of founder empathy, operational experience and ecosystem leadership," Rice Alliance shared.

Neder and Rice Alliance also shared that the organization is hiring developers to design the new Venture Advantage Platform. Learn more here.

Elon Musk's SpaceX files initial paperwork to sell shares to the public

Incoming IPO

Elon Musk's space exploration company has filed preliminary paperwork to sell shares to the public, according to two sources familiar with the filing, a blockbuster offering that would likely rank as the biggest ever and could make its founder the world's first trillionaire.

A SpaceX IPO promises to be one of the biggest Wall Street events of the year, with several investment banks lining up to help raise tens of billions to fund Musk's ambitions to set up a base on the moon, put datacenters the size of several football fields in orbit and possibly one day send a man to Mars.

The sources spoke on condition of anonymity because they were not authorized to talk publicly about the confidential registration with the Securities and Exchange Commission.

SpaceX did not respond immediately to a request for comment.

Exactly how much SpaceX plans to raise has not been disclosed but the figure is reportedly as much as $75 billion. At that level, the offering would easily eclipse the $29 billion that Saudi Aramco raised in its IPO in 2019.

The offering, coming possibly in June, could value all the shares of SpaceX at $1.5 trillion, nearly double what the company was valued in December when some minority owners sold their stakes, according to research firm Pitchbook, before an acquisition that increased its size.

Musk owns 42% of the SpaceX now, according to Pitchbook, though that figure will change with the IPO when new owners are issued shares. In any case, he is likely to pierce the trillion dollar mark because he is already close. Forbes magazine estimates Musk's net worth at roughly $823 billion.

In addition to making reusable rockets to hurl astronauts and hardware into orbit, SpaceX owns Starlink, the world’s largest satellite communications company. The company also recently brought under its roof two other Musk businesses, social media platform X, formerly Twitter, and artificial intelligence business, xAI, in a controversial transaction because both the seller and the buyer were controlled by him.

SpaceX has become the biggest commercial launch company in its industry, responsible for sending payloads into orbit for customers across the globe, but has also benefited from big taxpayer spending. That has raised conflicts of interest issues given that Musk was the biggest donor to President Donald Trump's campaign and is still a big backer.

In the past five years, SpaceX won $6 billion in contracts from NASA, the Defense Department and other U.S. government agencies, according to USAspending.gov.

Among current SpaceX owners is Donald Trump Jr, the president's oldest son. He owns a shares through 1789 Capital. That venture capital firm made him a partner shortly after his father won the presidency for a second time and has been buying up federal contractors seeking to win taxpayer money ever since.

The White House and Trump himself have repeatedly denied there are any conflicts of interest between his role as president and his family's businesses.

8+ can't-miss Houston business and innovation events in April

where to be

Editor’s note: Houston's weeklong innovation festival kicks off April, followed by Rice University's globally recognized pitch competition returning for its 26th year. Plus, find coworking pop-ups, industry meetups, pitch battles and even a crawfish boil on the calendar. Here’s what not to miss and how to register. Please note: this article might be updated to add more events.

March 30-April 4 — H-Town Roundup

Celebrate innovation, entrepreneurship and collaboration at Houston Exponential's sixth-annual H-Town Roundup. During the free event series, previously known as Houston Tech Rodeo, attendees can expect insightful talks, workshops and networking events at venues across the city.

This event began March 30. Register here.

April 2 — Industrious Coworking Day

Enjoy a complimentary day of cowering at Industrious and network with professionals at the Ion. Breakfast, snacks, wifi and workspace tours are included. Following the cowering day, Industrious will host happy hour at Second Draught from 4-6 p.m.

This event is Thursday, April 2, from 8:30 a.m.-5 p.m. at the Ion. Register here.

April 2 — Technology Summit for Women

The fourth annual Women in Tech Cummil will feature speakers across three core tracks: Transformation + Digital strategy, Cyber + Risk + Resilience, and AI in Practice. Pearl Chu, director of technical domains and university relations at SLB, will give the opening remarks. Other panelists come from CenterPoint Energy, BP, Technip Energies and other leading companies.

This event is Thursday, April 2, from 2-5 p.m. at the Ion. Register here.

April 8 — Veterans Business Battle

Hear pitches from veterans and entrepreneurs as they compete for more than $10 million in investments at Rice Businesses' 12th annual Veterans Business Battle. This year, the two-day event will also feature a Small Business Expo, which invites Houston-based, veteran-owned businesses to participate in education, networking and the opportunity to showcase their business. Moonshots Capital and Mercury Fund will also host a fireside chat.

This event begins Wednesday, April 8, at 11 a.m. at the Ion. Click here to register.

April 9-11 — Rice Business Plan Competition

The Rice Alliance for Technology and Entrepreneurship will host the 26th annual Rice Business Plan Competition this month. Forty-two student-led teams from around the world, including one team from Rice, will present their plans before more than 300 angel, venture capital, and corporate investors to compete for more than $1 million in prizes.

This event begins Thursday, April 9. Find more information here.

April 10 — BioHouston Chili Cookoff

Connect with Houston's life sciences community at BioHouston's 21st annual chili cookout. This event is geared toward startup founders, researchers and industry veterans alike.

This event is Friday, April 10, from noon-4 p.m. at Bayou City Event Center. Register here.

April 14 — Mercury Fund Day at the Ion: Agentic Commerce

Don’t miss the latest installment of Mercury Fund Day at the Ion, previously known as Software Day. The recurring monthly event features office hours (by application), a keynote and networking opportunities. This month's topic focuses on agentic commerce.

This event is Tuesday, April 14, from 3:30-7 p.m. at the Ion. Register here.

April 19 – UH Energy Industry Crawfish Boil

Head to the UH Cullen College of Engineering Green Space for the 35th annual UH Energy Industry Crawfish Boil. The event will include a student showcase, STEM activities, a kids zone, live music, networking and, of course, crawfish. Proceeds from the event will support the multidisciplinary capstone fund that aims to increase professional readiness for Cullen College engineering and technology students.

This event is Sunday, April 19, from 1-5 p.m. at the Cullen College of Engineering Green Space. Find more information here.

April 24 — Rice Business Healthcare Conference

Leading experts, innovators and the next generation of healthcare leaders will converge at the Rice Business Healthcare Conference. Hosted by the Rice Business Healthcare Association, the conference will explore AI's potential impact on the sector.

This event is Friday, April 24, from 8 a.m.-2 p.m. at McNair Hall on Rice University's campus. Find more information here.

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