This restaurant concept will have no dining-in option for guests and will act as an incubator for restaurant ideas. Photo by www.jillianekristine.com

Gabe Medina is back. The chef, who earned raves for his work at restaurants such as Kata Robata, Soma, and Aqui, will launch a new project this week in partnership with beverage expert Steven Salazar (The Kirby Group).

Under the banner of Click Robot Run, Medina will open five restaurants in a commercial kitchen in Rice Military (4901 Rose St.). Rather than traditional sit down establishments, they're "virtual restaurants" that will only serve diners via pick-up, to-go, or delivery apps such as Uber Eats and DoorDash. They are:

  • A&J Provisions (opens Wednesday, June 26): a comfort food restaurant that offers both an array of grilled meats as well as vegan and vegetarian dishes.
  • Bowling Club (opens August 2019): a Japanese rice bowl restaurant inspired by Medina's time working at Narisawa in Tokyo, widely considered one of the best restaurants in the world.
  • Sandwich Legend (opens November 2019): meatball subs, cold cuts, sandwiches inspired by Houston's immigrant cuisines, and more will be on the menu at this restaurant.
  • 7000 Islands (opens January 2020): Medina will explore Filipino cuisine its various forms at this restaurant, which is inspired by both his heritage and trips to the island nation.
  • Fifth concept: TBD. Salazar says that he and Medina will develop the fifth restaurant in collaboration with the chefs the hire to run the other four.

While one media account stated the concepts will open in sequence in a style similar to Chris Shepherd's One Fifth, that's not correct, according to Salazar. Instead, the five concepts will operate simultaneously — making it more like a food hall where each restaurant could someday be spun off into its own brick and mortar space.

"It's important to remember there's two aspects of this," Salazar says. "We like the idea of being able to utilize multiple concepts out of the same facility, that's one rent, one labor force.

"The second thing to remember is this is an incubator for us. It's about testing multiple menus for multiple concepts. It's about getting data from multiple sources: Favor, DoorDash, even our neighbors stopping by."

Operating as a "virtual restaurant" without a dining room means that one set of cooks can do the work, which reduces costs. It also means only paying rent for one location while they use the sales data to determine which concepts to promote.

While Medina is the chef who will develop the menus, train the cooks, etc, Salazar says his role is to serve as a sounding board and provide logistical support; he will also maintain his current role as the operating partner of The Kirby Group (Wooster's Garden, Heights Bier Garten, Holman Draft Hal, etc). The two friends have a history that goes back to the two years they spent working together at Kata Robata.

"Gabe is like one of my brothers, and I want to be part of his success," Salazar says. "I said, 'please, can I help you? Let me be involved if you'll let me.' I just have so much respect for him as a chef."

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This article originally ran on CultureMap.

Gabe Medina is the culinary mind behind Click Robot Run. Photo by Eric Sandler

Vinegar Hill will be divided into a restaurant and a bar. Courtesy of Vinegar Hill

Former restaurant reemerges as showcase for up-and-coming Houston chefs

Chef incubator

A new concept aims to give chefs on the rise a space to get their feet wet. Vinegar Hill Houston will serve three distinct roles when it opens in November: A co-working space by day, a bar by night, and an incubator for the next generation of culinary talent by design.

Axelrad owner Adam Brackman and chef Monica Pope have taken over the original location of Beaver's and are turning it into the new concept. Vinegar Hill's name is taken from a nickname for the area now known as the Old Sixth Ward. The co-working aspect will provide people who have been working at coffee shops with a more comfortable environment that better suits their needs. Design changes to the space will separate the restaurant from the bar. General manager Shawn Busch will work with the space's bar manager to maintain Beaver's reputation for innovative cocktails, but it's the incubator that's the most intriguing aspect.

Described as a chefs-in-residency program, the incubator will provide chefs with the opportunity to refine their concepts before committing to a brick and mortar. Pope will offer participants mentorship based on her experience operating restaurants such as t'afia and Sparrow Bar + Cookshop.

"I'm passionate about working with entrepreneurs," Brackman tells CultureMap. "At Axelrad we have regular pop-ups. It's been neat to see these entrepreneurs go from ideas to buying food trucks, seeing these people grow and flourish. It's kind of the next step in that process."

Chefs will create two menus during this residency. The first is a dinner menu for a 30-seat area within the space that will require reservations. In addition, the chef will offer a menu of casual bar bites designed to be served in the bar area and on the patio. Residencies will typically last for three months, but Brackman also sees the potential for chefs from out of town to use Vinegar Hill for a week or two as a way to market themselves to Houstonians prior to opening here.

At a time when chefs might be considering a stand in one of Houston's new food halls, Brackman sees the setup at Vinegar Hill as an alternative for the person who wants a less permanent arrangement.

"This will be more of their own private restaurant within a bar that will give them a full kitchen to work with and be creative with their own menu and have more of a captive audience," he says. "They can do things like have wine and beer pairings. It's going to be more intimate than a food hall experience."

Evelyn Garcia, a one-time Chopped champion who has earned a devoted following for her Southeast Asian-inspired pop-ups, will take the first turn in Vinegar Hill's kitchen. "The opportunity to take my craft from a tent and portable stoves into a full kitchen and dining room to showcase what I am capable of is a thrilling opportunity," said Garcia in a statement.

"We would like to seek out the next person. We have a couple in mind," Brackman says. "The perfect candidate is someone who wants their next move to be opening a brick and mortar. We want to help them through a bit of mentorship and even crowd funding."

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This story originally appeared on CultureMap.

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Houston brain health co. secures $6.5M for rare disease study

neuro funding

Houston-based Goldenrod Therapeutics, part of Fannin Partners' portfolio, has announced the initial close of a $6.5 million series seed preferred stock round.

The round was led by Ataxia Ventures and an affiliate of Fannin, according to a news release.

Goldenrod Therapeutics plans to use the funding to support manufacturing, formulation optimization, IND-enabling studies and a Phase I study of its drug to treat brain inflammation, known as 11h.

The study will consider how 11h, which blocks the enzyme PDE4, could treat Friedreich’s ataxia (FA), a rare genetic disease that affects movement, speech and balance. To date, other PDE4 inhibitors have proven to regulate neuroinflammation and neuronal signaling, but have had adverse gastrointestinal side effects or have not reached enough of the central nervous system, according to Goldenrod.

The company says its 11h is expected to have "broad applicability" with limited emetric side effects.

“Our 11h program is a next-generation, orally bioavailable, brain-penetrant PDE4 inhibitor, where researchers overcame longstanding limitations associated with earlier PDE4 inhibitors," Dr. Dev Chatterjee, CEO of Goldenrod, said in the news release. "We believe this creates the potential for a best-in-class therapy for Friedreich’s Ataxia and a potential foundation for development across multiple neurodegenerative and neuroinflammatory disorders.”

11h was first developed at the University of Nebraska Medical Center (UNeMed). Houston-based Fannin Partners in-licensed the product 2020 and landed SBIR Phase I funding to support its initial development for opioid use disorder soon after.

Goldenrod has also received funding to study 11h's effectiveness for multiple sclerosis, methamphetamine addiction and cocaine addiction.

Goldenrod says it is developing 11h to target a variety of neurological and inflammatory conditions, including Alzheimer's disease, multiple sclerosis, ALS, substance use disorders, Batten disease, pain and traumatic brain injury.

27 Houston companies make Fortune 500 for 2026, led by energy giants

Houston HQs

Houston is a giant among U.S. hubs for corporate headquarters.

The 2026 Fortune 500 lists 27 companies based in the Houston area, with many energy companies claiming top spots. Houston ties with Chicago for the second-most Fortune 500 headquarters, preceded only by New York City (53). Dallas-Fort Worth is home to 23 Fortune 500 headquarters.

Texas leads the nation for Fortune 500 headquarters (57), with California in the No. 2 spot and New York at No. 3.

“Texas is the undisputed headquarters of headquarters,” Gov. Greg Abbott said in a news release. “The world’s leading businesses invest with confidence in Texas because of our welcoming business climate, predictable regulatory environment, and skilled and growing workforce. People and businesses are choosing Texas because Texas works.”

The 2026 Fortune 500 ranks the largest U.S. corporations based on revenue in fiscal year 2025.

Here’s a rundown of the 27 Fortune 500 companies based in the Houston area.

  • No. 9 ExxonMobil
  • No. 21 Chevron
  • No. 29 Phillips 66
  • No.55 Sysco
  • No. 75 ConocoPhillips
  • No. 89 Enterprise Products Partners
  • No. 103 Plains GP Holdings
  • No. 133 Hewlett Packard Enterprise
  • No. 149 NRG Energy
  • No. 157 Quanta Services
  • No. 164 Baker Hughes
  • No. 173 Occidental Petroleum
  • No. 179 Waste Management
  • No. 201 EOG Resources
  • No. 204 Group 1 Automotive
  • No. 207 Halliburton
  • No. 223 Cheniere Energy
  • No. 236 Corebridge Financial
  • No. 262 Targa Resources
  • No. 266 Kinder Morgan
  • No. 388 Westlake
  • No. 435 CenterPoint Energy
  • No. 438 APA
  • No. 440 Comfort Systems USA
  • No. 455 NOV
  • No. 488 KBR
  • No. 496 Coterra Energy. Oklahoma City, Oklahoma-based Devon Energy and Houston-based Coterra Energy merged in early May, with the combined company retaining the Devon Energy name and the Houston headquarters.

The Greater Houston Partnership notes the Houston area soon will welcome its 28th Fortune 500 company. Expand Energy (formerly Chesapeake Energy), appearing at No. 362 on the 2026 list, says it’s moving its headquarters from Oklahoma City to Spring this year.

As the natural gas producer prepares to relocate to Texas, it’s hunting for a new leader. Nick Dell’Osso stepped down as president and CEO earlier this year. Board Chairman Michael Wichterich is interim president and CEO.

Dell’Osso became president and CEO of Oklahoma City-based Gulfport Energy effective May 28.

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This article first appeared on EnergyCapitalHTX.com.

Elon Musk's SpaceX is about to make its debut on Wall Street

Money Moves

Elon Musk's rocket company SpaceX will make its debut on Wall Street Friday, June 12, and both institutional and retail investors are expected to gobble up the 555.6 million shares going up for sale at $135 apiece. Musk, already the world's richest man, could become its first trillionaire.

SpaceX is likely to become the biggest IPO ever, with proceeds of around $75 billion. SpaceX hopes to become the first company to send people to Mars. In fact, part of Musk’s future compensation depends on SpaceX eventually establishing a colony of at least 1 million people on the red planet.

Why SpaceX is going public now

In a video conference on Musk's social media platform X, he told JPMorgan CEO Jamie Dimon that people have suggested for the last 10 years that he take SpaceX public. He's doing it now because the company plans to put 100,000 next-generation Starlink satellites into orbit. Deploying AI data centers in space is a “massive new growth base and you need capital for that,” he said.

Going public provides access to the capital that SpaceX needs. But it also exposes it to more scrutiny from shareholders and more regulatory oversight. That includes filing quarterly financial reports, which critics say incentivizes short-term thinking over longer-term planning and creates unnecessary costs for a company. Securities regulators are currently soliciting public comment on a proposal to require public companies to file the financial reports only twice every year.

How the IPO impacts the company

Musk will hold the majority of a special class of shares, giving him control over decisions related to company strategy, finances and personnel. On the latter, because of his ownership of most of these Class B shares, the only person who can fire Musk as CEO is Musk.

The company credits Musk with being the “driving force” behind its growth, innovation and success. But what happens if Musk is no longer in the picture? SpaceX warns that the loss of Musk could disrupt its ability to execute its strategy as well as hurt its “reputation and relationships with customers, partners and other stakeholders.”

The company also warns that finding a replacement with the same skills and experience as Musk would be time-consuming, if not nearly impossible. As Wedbush Securities analyst Dan Ives wrote Wednesday, “At the end of the day Musk is SpaceX and SpaceX is Musk.”

What could make or break SpaceX

Currently in the test phase, the gigantic reusable Starship rocket is key to SpaceX realizing Musk's ambitions. Much of the commercial space business hinges on SpaceX developing Starship’s capability to be fully reusable and hearty enough for a quick turnaround between flights. If that doesn't happen, SpaceX warns that putting data centers and satellites in space will take longer and cost more money, meaning it risks customers bailing on the company.

Analysts say that by pioneering reusable rockets, SpaceX has established a clear lead on competitors such as Blue Origin, led by Amazon founder Jeff Bezos. The Starlink satellite business competes with, among others, AST SpaceMobile – which is relying on a SpaceX rocket to send its latest generation of satellites into orbit next week.

The prospectus filed last week says SpaceX’s biggest potential market is the sale of business-oriented artificial intelligence products designed to transform how people get work done. It’s an opportunity SpaceX predicts would be worth $22.7 trillion if it could somehow dominate rivals like Anthropic, OpenAI and Microsoft in a highly competitive industry. But the prospectus shows no clear path to profitability for the xAI business, which merged with SpaceX earlier this year.

Why Wall Street is paying attention

If the SpaceX IPO is as successful, the stock could quickly join the Nasdaq 100, a widely followed index that tracks the 100 largest non-financial companies in the composite. That's important because some popular funds, such as the $460 billion QQQ exchange-traded fund, mimic the index and will automatically buy whatever is listed in the index.

Nasdaq recently changed its rules to allow select companies to enter the Nasdaq 100 after just 15 trading days.

S&P Dow Jones Indices, on the other hand, is sticking to established and more traditional thresholds that will not allow SpaceX or other companies with gargantuan IPOs faster entry into its S&P 500 index. That means even high-profile companies will still need to wait for their stocks to trade a full 12 months before they can enter the index.

Companies want to be in the S&P 500 in particular because it's arguably the most important index on Wall Street, with trillions of dollars either mimicking it exactly or benchmarked against it. Vanguard's VOO fund that tracks the S&P 500 has roughly $950 billion invested in it, for example.