7 can't miss Houston business and innovation events for July

where to be

Don't miss these July events—from a new biotech summit to the Ion Bike Club. Photo via the Ion.

Editor's note: While many Houstonians are flocking to vacation destinations, there are still plenty of opportunities to network and learn at tech and business events for those sticking close to home this month. From an inaugural biotech summit to the 12th edition of a local pitch showcase, here are the Houston business and innovation events you can't miss in July and how to register. Please note: this article might be updated to add more events.

July 10 - Out in Tech Mixer

Out in Tech Houston provides an inclusive networking space for LGBTQ+ people and allies working in tech. Check out this relaxed, social-mixer event, hosted on the second Thursday of every month.

This event is Thursday, July 10, from 7 to 8:30 p.m. at Second Draught. Register here.

July 14 – Latinas in Tech Coworking Day

Connect with fellow Latinas in the industry at Sesh Coworking. Network or work alongside peers, board members and community leaders in a shared office environment.

This event is Monday, July 14, from 9-11:30 a.m. at Sesh Coworking. Find more information here.

July 17 – UTMB Innovation VentureX Summit

Attend the inaugural UTMB Innovation VentureX Summit, where innovators, entrepreneurs, researchers and investors will dive into the future of biotech. Expect panel discussions, fireside chats, a technology showcase and networking opportunities.

This event is Thursday, July 17, from 7:30 a.m.-4 p.m. at The University of Texas Medical Branch at Galveston. Find more information here.

July 17 – Open Project Night

Collaborate on solutions for some of Houston’s most pressing issues at this month’s Open Project Night at Impact Hub Houston. Hear from guest speakers and listen to open mic pitches. July’s theme is Decent Work & Economic Growth.

This event is Thursday, July 17, from 5:30-7:30 p.m at Impact Hub Houston. Register here.

July 24 – NASA Tech Talks

Every fourth Thursday of the month, NASA experts, including longtime engineer Montgomery Goforth, present on technology development challenges NASA’s Johnson Space Center and the larger aerospace community are facing and how they can be leveraged by Houston’s innovation community. Stick around after for drinks and networking at Second Draught.

This event is Thursday, July 24, from 6-7 p.m. at the Ion. Register here.

July 30 – Ion Bike Club

Join Bike Houston at the Ion for a 45-minute guided cruise through the Ion District and Midtown. Afterward, enjoy a complimentary beer and network with like-minded riders at Second Draught.

This event is Wednesday, July 30, from 5:30-7:30 p.m. at the Ion. Register here.

July 31 – Bayou Startup Showcase

Hear pitches from startups and small businesses from Rice University’s OwlSpark and the University of Houston’s RED Labs accelerators at the 12th annual Bayou Startup Showcase. Read more about this year’s teams here.

This event is Thursday, July 31, from 3:30-7 p.m. at the Ion. Register here.

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Rice University's Owl Spark and the University of Houston’s RED Labs will culminate at The Bayou Startup Showcase in July. Photo courtesy Rice University.

Houston universities launch summer 2025 accelerators for student ventures

summer session

OwlSpark, a startup and small business accelerator for Rice University-affiliated ventures, has named the latest 11 companies to its program that focus on challenges across technology, health care, consumer products and other sectors. The program is hosted in tandem with the University of Houston’s RED Labs and will take place at the Ion.

The early-stage accelerator runs for 12 weeks and culminates at The Bayou Startup Showcase on July 31.

According to a news release from Rice, “the accelerator cultivates a vibrant environment where founders are empowered to build, test, and scale their ideas in a setting built for entrepreneurship.”

The program is divided into two tracks: one for high-growth tech startups and another for small businesses.

The latest OwlSpark class includes:

Web and mobile platform EasilyBEE, which boosts family and community engagement in K-12 schools
Diagnos, a wearable-integrated wellness platform that monitors health and prevents injuries in college athletes
Johnnie, an AI-powered records management software for rural and midsize first responder agencies
JustKindHumility, which offers faith-based travel journals
Klix, which automates early-stage clinical trial management from document screening to AI-driven patient outreach and eligibility checks
Lizzy’s Gourmet Gains, which offers high-protein, flavor-forward dips and dressings
NextStep, an AI-powered multilingual assistant helping underserved communities navigate resources for health care
A catheter-integrated sensor device PeriShield, which detects early infection in peritoneal dialysis patients
Right Design, which connects creatives with vetted employers, mentors and projects via job matching and commissions
UCoreAlly, which provides business support for biotech startups in marketing, business development, customer support, human resources and accounting
Ultrasound-based ablation system VentriTech that treats ventricular arrhythmias

The Owl Spark accelerator has supported 229 founders and launched 104 ventures with participants raising more than $116 million in funding since 2013, according to Rice.

UH also shared the 9 teams that will participate in RED Labs' latest cohort.

The latest RED Labs class includes:

BLEED, an art agency that helps artists commercialize their work by connecting art collectors to original artwork and artists
Brain Haven, which is developing nasal inhalers designed to stimulate the emotional and memory processing centers to preserve neuroplasticity and delay cognitive decline
Candi Wands Automated Cotton Candy, which has developed a continuously operating cotton candy machine to help entertainment venues boost passive revenue
ChériCollectible, a series of in-person events where Gen Z and collectors can buy, sell, and trade modern collectibles
JobRadar, a job board that uses AI to analyze and categorize positions in real-time and then apply candidates instantly
Stage Select LLC, a supplementary talent booking service that partners with multi-stage venues to help fill gaps in programming and increase profitability by finding and booking local talent for their "second stage."
P-LEGS, a pediatric lower-limb exoskeleton that reduces physical strain on therapists while delivering customizable gait training.
Roll ‘N’ Reel Photo Booth, an interactive event-based equipment rental business
Stayzy, which automates guest communication and handles maintenance issues with an AI-powered software for short-term rental companies that manage 20-plus rentals

UH's RED Labs and Rice's OwlSpark will be hosted at the Ion over 11 weeks of programming, networking, and training as each of the 18 participating companies are introduced to Houston's innovation ecosystem. Photo courtesy of the Ion

Rice, UH name student startup cohorts to annual summer accelerator

ready to grow

For the 11th year, Rice University and the University of Houston have teamed up to present their summer student accelerator programs.

“The collaboration the University of Houston has with Rice University gives founders in RED Labs and OwlSpark a unique opportunity to grow along their peers in the larger Houston community and really exemplifies the spirit of collaboration that the Houston business ecosystem is known for,” Managing Director of RED Labs Liana Gonzalez-Schulenberg says in a news release. “It never fails to surprise me at the end of the summer the relationships built, the support systems created and collaborations produced across our universities. By working together, we empower the next generation of entrepreneurs to work together as they turn their visions into reality and drive positive change in the community.”

The programs conclude with the Bayou Startup Showcase on August 1, an event that's open to the public. Those interested can sign up online for more information.

“We’re celebrating more than just an 11-year partnership; we’re recognizing a dynamic alliance that has been instrumental in fostering entrepreneurship and propelling Houston to the forefront of innovation,” Managing Director of OwlSpark Jessica Fleenor adds. “This partnership exemplifies our dedication to cultivating a thriving environment where entrepreneurs can connect, grow and succeed surrounded by unparalleled resources and support. We are incredibly excited to see these new ventures grow as they join our growing network and are thrilled to host our cohorts at the Ion, positioning us at the core of our city’s vibrant innovation landscape.”

Here are the companies selected for each of the two programs, as outlined in the news release:

University of Houston RED Labs Class 12

Root Planters develops smart indoor plant care devices designed to prevent plant death by providing automatic watering, tailored for busy individuals and gardeners looking to maintain plant health with minimal effort.
Burb Groceries is an online grocery retailer for people with chronic health conditions.
That Dude’s Bakehouse offers premium, half-pound cookies, combining choice ingredients and craftsmanship with the mission of being the best part of somebody’s day
Mulligan Bandit aims to redefine golf fashion, offering affordable yet high-quality clothing that seamlessly transitions from the fairway to the streets, reflecting personal style while ensuring durability and comfort.
Surreal Vision offers immersive mixed reality solutions that provide dynamic visualization experiences to enhance design collaboration and client presentations.
Agave Catering is a catering company focused on providing high-quality, gourmet boxed lunches for professionals on the go.
Digitally Marie is a purposeful creative agency dedicated to reducing the opportunity gap for female entrepreneurs. Through our heart-driven approach, we elevate content production embodying their brand perception with unapologetic authenticity.
Unison is a personal contact relationship management tool that alleviates the risk of data loss and helps to build more meaningful professional and personal relationships.
Brain-eNet is a platform that provides hardware and software tools to enable the development of brain-controlled Internet of Things applications.
Pasha Blend Collection specializes in creating modern skincare products that embodies purity, authenticity and inclusivity.
Arresting Motion is a brand strategy design consultancy and marketing agency that transforms Houston’s top real estate firms into the brands they deserve.
CalliDanna is a consulting company that coaches girls 12 to 18 to help improve their lives professionally and personally.

Rice University OwlSpark Class 12

EcoFleet Solutions offers rechargeable electric power units for semitrucks, powering air conditioning and cabin functions during stops without engine idling, cutting fuel costs, maintenance and emissions.
Houston Community Print Shop offers printmaking classes and equipment access, focusing on community building and supporting underserved areas.
KOQ Agency curates and organizes global tours and live entertainment opportunities for queer and ally artists in drag, music and entertainment.
Euvivo Diagnostics is developing a direct-to-consumer test that analyzes cell aging by examining mitochondrial performance and new aging markers, tailored for individuals with mitochondrial disorders.
Hair Hub provides a compilation of styling tutorials, educational content, planning tools and a comprehensive database of products tailored for Black hair to provide resources for users to perform cost-efficient DIY haircare.
xMAD.ai is a compression-as-a-service platform that democratizes access to LLMs (Large Language Models) by making them faster, more private, cost-effective and accessible to businesses of all sizes.

UH business students can opt into “The Entrepreneurial Genius of Taylor Swift,” a course covering the success and strategy of the billion-dollar performer's career. Photo courtesy of UH Bauer College of Business

University of Houston lines up entrepreneurship course featuring Taylor Swift's billion-dollar career

Cougar Red (Taylor's Version)

By any measure, Taylor Swift put on a masterclass with her Eras Tour this year — her Houston stop was a study in three-hours of pop-culture-perfect brand execution and fan frenzy.

Now, University of Houston is taking Tay studies to the next level with a new biz class.

Appropriately dubbed “The Entrepreneurial Genius of Taylor Swift,” the new class is part of the curriculum at coming to the C. T. Bauer College of Business at the University of Houston next spring. Swfities who’re super “ready for it,” however, can get a jump on enrollment now.

Study “the 1” at a No. 1 institution

Though Swifties and Tay (and Travis) fiends will surely soak up every class hour, the program isn’t just for fans, the prof notes in a press statement. And Bauer College offers serious cred for current and new students, as its Wolff Center for Entrepreneurship has long ranked No. 1 in the U.S.

“You definitely don’t have to be a hardcore fan — a Swiftie — to learn and appreciate the entrepreneurial genius that has made Taylor Swift an international phenomenon,” notes Kelly McCormick, the Professor of Practice leading the course, citing Swift’s expertise in marketing, fan engagement, community building, and brand strategies.

Don’t hate, hate, hate, hate, hate on this Tay tutorial

Sure, Swift haters night hate on a Taylor course. But before they do, they should consider that at age 33, Swift boasts an estimated net worth of $1 billion, according to Forbes. And her aforementioned Eras Tour? Swift earned more than $780 million on the U.S. leg alone this year on the tour, which — by current estimates — cues her up to become the highest-grossing female touring artist of all time.

Her Eras Tour concert film also just became the highest-grossing concert film in North America, raking between $95 million to $97 million in ticket sales during its opening weekend — alone.

Swift can flex a $1 billion net worth, per Forbes. Photo by Marco Torres/Marco from Houston

And then of course, her music acumen and savvy. In 2021, Swift smartly re-recorded a version of her album Fearless and launched a series of releases of her back catalog, in order to secure ownership of her first six albums.That move came after the masters (the original recordings) sold for a reported $300 million in 2019.

Here in Houston, as CultureMap reported, the Post-Tay Effect (we’re making that a thing) had a lasting economic effect, notbaly for areas pet and food nonprofits.

Hardcore business aside, the class Still, the course will be Taylor-made for Swifties. McCormick, who also serves as managing director for the university’s startup accelerator RED Labs, has themed each session around a different album — or Era, obvi for fans — of Swift’s career.

What to expect on the “mornin' of your very first day”

So, when students take a deep breath and walk through the door of their very first day (obligatory “Fifteen,” callout) they will score friendship bracelet gifts — a huge Swiftie phenomenon — and will be treated to surprise songs during breaks and even Easter eggs hidden in class content. (That’s a clever nod to Swift, who regularly hides clues, callbacks, and “oh yeaaahhhh” moments for fans in her music videos, album artwork, and social media posts).

As for the Tay inspo, McCormick says she has been a Swift fan since the early days of mega-hits “Our Song” and “Love Story.” But like so many who were blown away by the sheer Tay Machine during the Houston Eras Tour stop in April, the professor quickly noted entrepreneurship lessons to be learned over Swift’s in her 17-year career.

The professor says Swift's dazzling Eras Tour stop in Houston inspired the class. Photo: Bob Levey/Getty Images/Taylor Swift Twitter

“I saw the show and loved it,” McCormick adds. “And I realized I actually didn’t know that much about her career. I became absolutely enamored basically overnight and started getting into her whole discography. Taylor is truly impressive!”

She added: “Never have I ever — like ever — been so engrossed in someone’s career after so little time.” (Should anyone doubt all the Tay references, McCormick’s “never have I ever — like ever” comments is shoutout to Swift’s most popular singles, “We Are Never Ever Getting Back Together.” Very clever.)

Travis-Tay included?

But perhaps the top Tay lesson is how to ensure satisfied customers.

“The number one business lesson students can learn from Taylor is the way she treats her fans,” McCormick notes. “She is beloved because she truly does so much to make sure they are happy, appreciated and feel like they are important to her. If every company acted that way about their customers — they’d have way more customers.”

Oh, and, no word — and we didn’t ask, for the record — if Kansas City Chiefs tight end/Swift squeeze Travis Kelce is part of the curriculum. Also no word if, to quote “Fifteen,” students will “sit in class next to a redhead named Abigail.”

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This article originally ran on CultureMap.

Four Houston accelerators will be working together this summer to advance nearly 30 university-associated startups. Photo via UH.edu

Houston universities reveal teams for summer accelerators

bayou startups

The University of Houston and Rice University have announced the cohorts for their summer accelerators that advance university-founded startups and small businesses.

The two schools run four programs in tandem with each other every summer for about a decade. There are nearly 30 companies this year being accelerated across the four programs, which are:

Rice's OwlSpark is focused on early-stage startup teams.
UH's RED Labs is focused on early-stage startup teams.
Rice's BlueLaunch is focused on non-tech small businesses.
UH's RED Launch is focused on non-tech small businesses.

"A very cool part of the program is that we partner every summer with Rice University's OwlSpark and Blue Launch," says Liana Gonzalez-Schulenberg, managing director of RED Labs. "It creates this really incredible network across the universities and allows both schools to bolster and benefit from each other.

"We share staff, we share mentors, we share speakers, we co-host the demo day, and we even share the catering bill," she continues. "It's a really special part of the program that I think has brought endless value to the founders, the universities, and Houston."

The 12-week program takes each of the teams — all of which have a university-affiliated founder, from undergrad to faculty — through key programming and mentorship. The final event includes a pitch day, called the Bayou Startup Showcase, where all of the companies share their business plans they've created through the program.

“I’m excited to support these new ventures with highly curated offerings and rich mentorship, propelling them to commercial success,” said Jessica Fleenor, managing director of BlueLaunch and OwlSpark. "We have built a long-standing culture of advocacy and collaboration, and look forward to upholding that in our largest cohort to date."

The selected companies for the four programs are as follows.

RED Labs (cohort 11)

We Felt It 3-D prints customized modifications to mobility devices like canes, walkers, and wheelchairs that maximizes comfort during use.
Zoop makes nutrition easy, clean and sustainable smoothie premixes which can be consumed anywhere and anytime by just mixing it with any of the preferred mixer (Water, Vegan milk, Milk, etc.)
Orbit is an application that allows users to understand the stock market through practice and training.
Team X is creating a company around nanoporous membrane technologies that recovers metals from wastewater and brine.

OwlSpark (cohort 11)

Terradote will manufacture cost-competitive, petroleum-free chemicals using captured carbon dioxide, methane and renewable bio-based materials.
Biomethanator’s biofilm bioreactors utilize biomethanation to convert industrial-waste carbon dioxide to methane, which can be used as fuel or in other industrial applications.
Taurus Vascular is developing a minimally invasive catheter for addressing the most pressing complication of endovascular aortic aneurysm repair: endoleaks.
Voythos offers a mobile physician companion that monitors electronic medical records, prompting action and initiating care workflows.
AiKYNETIX is developing a video analytics platform for human motion insights, focusing on a mobile running lab for runners and coaches.
AllStars is building an affect-sensitive educational tool for self-studying and blended classroom learning.
Eureka Hub is developing a marketplace where data and research scientists can publish, manage, share and revise analytical models for data sets across diverse applications.
ScoutBetter is an end-to-end recruiting platform that connects students with corporate campuses and provides recruiters access to university talent.

RED Launch (cohort 2)

Curio Sweets is a vegan dessert brand that provides wholesale desserts and services including: consultation; recipe development; and contract baking of their product.
Space City Vinyl is a vehicle wrapping business that offers a quick and non permanent color change of vehicles.
Venus by Design is a handmade jewelry company
First Byte Digital consulting firm that helps mom and pop restaurants and non-profits establish a robust online presence by offering a wide range of digital conversion services.
2tinys designs, prints, and cuts stickers with the plan of expanding into art prints and stationery items.
Lacey's Art paints dog portrait artwork. They partner with shelters to find models (and provide some help to getting the dog adopted), and then sells the prints.

BlueLaunch (cohort 2)

Archway Family Medicine provides medical care to patients through a monthly membership model known as direct primary care.
rdy helps communities recover from disasters faster and more equitably by working with local organizations to plan for them.
610 Smokehouse is a mobile food service and catering company that serves “Texan Fusion,” a unique cuisine that combines traditional Texas barbecue with diverse Houston food.
Serendipity Picnic is a unique picnic with all the goodies and essentials wrapped in a beautiful, lightweight, easy-to-carry and reusable “BlanKIT.”
La Mer Macaron offers an assortment of homemade French macarons.
TenTwelve provides residential construction and remodeling services.
DHA America customizes, designs and sells powder-coated and galvanized fence panels, posts and accessories.
All About Baby provides bespoke tableware for babies transitioning to solid foods.
MeowPlanet is opening a cat lounge.

Rice University and the University of Houston have opened applications for its inaugural cohort for a new small business accelerators. Photo by Hero Images

2 Houston universities team up to premiere small business accelerators

apply now

After years of supporting university-affiliated tech startups, two Houston colleges are launching a new program to support small businesses.

University of Houston and Rice University have announced two new programs — RED Launch and BlueLaunch, respectively — to run alongside its tech startup programs. While RED Labs and OwlSpark are geared toward technology startups, RED Launch and BlueLaunch focus on small businesses. The programs are open to University of Houston and Rice University affiliates who are interested in starting or growing a small business.

"Since inception, RED Labs programming focused mostly on tech entrepreneurship," says Kelly McCormick, managing director of RED Labs. "A few years ago, we began to build out course offerings at the Wolff Center for Entrepreneurship for students interested in small businesses.

"Through those courses, I saw incredible engagement and enthusiasm from students interested in starting a small business, but recognized the need for intensive support beyond classes," she continues.

McCormick says that last summer, UH piloted the first iteration of RED Launch with a small group of UH students, and now UH has brought in Rice to the initiative as well.

"This year, we formalized and will expand the program, and we’re teaming up with the Rice Alliance at Rice University to make the program even stronger," she says.

The two organizations have been working together each summer on accelerating student-run startups for about a decade now, and these new programs are just the next step for the collaborators.

Applications for the program are due April 1. UH Cougars can apply by clicking here, and Rice Owls can submit their application here. For 12 weeks this summer, selected participants will receive comprehensive training and mentorship, access to resources, and at the conclusion of the program, the opportunity to showcase their businesses to the greater Houston community. The small business accelerators will tackle business necessities in the following areas: accounting, finance, legal, marketing, and sales.

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Houston institutions launch Project Metis to position region as global leader in brain health

brain trust

Leaders in Houston's health care and innovation sectors have joined the Center for Houston’s Future to launch an initiative that aims to make the Greater Houston Area "the global leader of brain health."

The multi-year Project Metis, named after the Greek goddess of wisdom and deep thought, will be led by the newly formed Rice Brain Institute, The University of Texas Medical Branch's Moody Brain Health Institute and Memorial Hermann’s comprehensive neurology care department. The initiative comes on the heels of Texas voters overwhelmingly approving a ballot measure to launch the $3 billion, state-funded Dementia Prevention and Research Institute of Texas (DPRIT).

According to organizers, initial plans for Project Metis include:

Creating working teams focused on brain health across all life stages, science and medical advances, and innovation and commercialization
Developing a regional Brain Health Index to track progress and equity
Implanting pilot projects in areas such as clinical care, education and workplace wellness
Sharing Houston’s progress and learnings at major international forums, including Davos and the UN General Assembly

The initiative will be chaired by:

Founding Chair: Dr. Jochen Reiser, President of UTMB and CEO of the UTMB Health System
Project Chair: Amy Dittmar, Howard R. Hughes Provost and Executive Vice President of Rice University
Project Chair: Dr. David L. Callender, President and CEO of Memorial Hermann Health System

The leaders will work with David Gow, Center for Houston’s Future president and CEO. Gow is the founder and chairman of Gow Media, InnovationMap's parent company.

“Now is exactly the right time for Project Metis and the Houston-Galveston Region is exactly the right place,” Gow said in a news release. “Texas voters, by approving the state-funded Dementia Prevention Institute, have shown a strong commitment to brain health, as scientific advances continue daily. The initiative aims to harness the Houston’s regions unique strengths: its concentration of leading medical and academic institutions, a vibrant innovation ecosystem, and a history of entrepreneurial leadership in health and life sciences.”

Lime Rock Resources, BP and The University of Texas MD Anderson Cancer Center served as early steering members for Project Metis. HKS, Houston Methodist and the American Psychiatric Association Foundation have also supported the project.

An estimated 460,000 Texans are living with dementia, according to the Alzheimer’s Association, and more than one million caregivers support them.

“Through our work, we see both the immense human toll of brain-related illness and the tremendous potential of early intervention, coordinated care and long-term prevention," Callender added in the release. "That’s why this bold new initiative matters so much."

Texas launches cryptocurrency reserve with $5 million Bitcoin purchase

Money Talks

Texas has launched its new cryptocurrency reserve with a $5 million purchase of Bitcoin as the state continues to embrace the volatile and controversial digital currency.

The Texas Comptroller’s Office confirmed the purchase was made last month as a “placeholder investment” while the office works to contract with a cryptocurrency bank to manage its portfolio.

The purchase is one of the first of its kind by a state government, made during a year where the price of Bitcoin has exploded amid the embrace of the digital currency by President Donald Trump’s administration and the rapid expansion of crypto mines in Texas.

“The Texas Legislature passed a bold mandate to create the nation’s first Strategic Bitcoin Reserve,” acting Comptroller Kelly Hancock wrote in a statement. “Our goal for implementation is simple: build a secure reserve that strengthens the state’s balance sheet. Texas is leading the way once again, and we’re proud to do it.”

The purchase represents half of the $10 million the Legislature appropriated for the strategic reserve during this year’s legislative session, but just a sliver of the state’s $338 billion budget.

However, the purchase is still significant, making Texas the first state to fund a strategic cryptocurrency reserve. Arizona and New Hampshire have also passed laws to create similar strategic funds but have not yet purchased cryptocurrency.

Wisconsin and Michigan made pension fund investments in cryptocurrency last year.

The Comptroller’s office purchased the Bitcoin the morning of Nov. 20 when the price of a single bitcoin was $91,336, according to the Comptroller’s office. As of Friday afternoon, Bitcoin was worth slightly less than the price Texas paid, trading for $89,406.

University of Houston energy economist Ed Hirs questioned the state’s investment, pointing to Bitcoin’s volatility. That makes it a bad investment of taxpayer dollars when compared to more common investments in the stock and bond markets, he said.

“The ordinary mix [in investing] is one that goes away from volatility,” Hirs said. “The goal is to not lose to the market. Once the public decides this really has no intrinsic value, then it will be over, and taxpayers will be left holding the bag.”

The price of Bitcoin is down significantly from an all-time high of $126,080 in early October.

Lee Bratcher, president of the Texas Blockchain Council, argued the state is making a good investment because the price of Bitcoin has trended upward ever since it first launched in early 2009.

“It’s only a 16-year-old asset, so the volatility, both in the up and down direction, will smooth out over time,” Bratcher said. “We still want it to retain some of those volatility characteristics because that’s how we could see those upward moves that will benefit the state’s finances in the future.”

Bratcher said the timing of the state’s investment was shrewd because he believes it is unlikely to be valued this low again.

The investment comes at a time that the crypto industry has found a home in Texas.

Rural counties have become magnets for crypto mines ever since China banned crypto mining in 2021 and Gov. Greg Abbott declared “Texas is open for crypto business” in a post on social media.

The state is home to at least 27 Bitcoin facilities, according to the Texas Blockchain Council, making it the world’s top crypto mining spot. The two largest crypto mining facilities in the world call Texas home.

The industry has also come under criticism as it expands.

Critics point to the industry’s significant energy usage, with crypto mines in the state consuming 2,717 megawatts of power in 2023, according to the comptroller’s office. That is enough electricity to power roughly 680,000 homes.

Crypto mines use large amounts of electricity to run computers that run constantly to produce cryptocurrencies, which are decentralized digital currencies used as alternatives to government-backed traditional currencies.

A 2023 study by energy research and consulting firm Wood Mackenzie commissioned by The New York Times found that Texans’ electric bills had risen nearly 5%, or $1.8 billion per year, due to the increase in demand on the state power grid created by crypto mines.

Residents living near crypto mines have also complained that the amount of job creation promised by the facilities has not materialized and the noise of their operation is a nuisance.

“Texas should be reinvesting Texan’s tax money in things that truly bolster the economy long term, living wage, access to quality healthcare, world class public schools,” said state Sen. Molly Cook, D-Houston, who voted against the creation of the strategic fund. “Instead it feels like they’re almost gambling our money on something that is known to be really volatile and has not shown to be a tide that raises all boats.”

State Sen. Charles Schwertner, R-Georgetown, who authored the bill that created the fund, said at the time it passed that it will allow Texas to “lead and compete in the digital economy.”

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This story was originally published by The Texas Tribune and distributed through a partnership with The Associated Press.

Houston-based HPE wins $931M contract to upgrade military data centers

defense data centers

Hewlett Packard Enterprise (HPE), based in Spring, Texas, which provides AI, cloud, and networking products and services, has received a $931 million contract to modernize data centers run by the federal Defense Information Systems Agency.

HPE says it will supply distributed hybrid multicloud technology to the federal agency, which provides combat support for U.S. troops. The project will feature HPE’s Private Cloud Enterprise and GreenLake offerings. It will allow DISA to scale and accelerate communications, improve AI and data analytics, boost IT efficiencies, reduce costs and more, according to a news release from HPE.

The contract comes after the completion of HPE’s test of distributed hybrid multicloud technology at Defense Information Systems Agency (DISA) data centers in Mechanicsburg, Pennsylvania, and Ogden, Utah. This technology is aimed at managing DISA’s IT infrastructure and resources across public and private clouds through one hybrid multicloud platform, according to Data Center Dynamics.

Fidelma Russo, executive vice president and general manager of hybrid cloud at HPE, said in a news release that the project will enable DISA to “deliver innovative, future-ready managed services to the agencies it supports that are operating across the globe.”

The platform being developed for DISA “is designed to mirror the look and feel of a public cloud, replicating many of the key features” offered by cloud computing businesses such as Amazon Web Services (AWS), Microsoft Azure and Google Cloud Platform, according to The Register.

In the 1990s, DISA consolidated 194 data centers into 16. According to The Register, these are the U.S. military’s most sensitive data centers.

More recently, in 2024, the Fort Meade, Maryland-based agency laid out a five-year strategy to “simplify the network globally with large-scale adoption of command IT environments,” according to Data Center Dynamics.

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