Report: E-commerce soars in 2020 — in Houston and beyond

online shopping spree

Retail trends are affecting Houston's real estate growth, a report from Avison Young finds. Photo via Getty Images

This year's holiday shopping season is keeping online retailers hopping. Commercial real estate services provider CBRE predicts holiday e-commerce sales in 2020 will exceed last year's by a whopping 40 percent.

But even before Americans were focusing intently on buying holiday gifts, e-commerce had taken off amid pandemic-generated shopping constraints. In the second quarter of this year, online sales skyrocketed by 44.5 percent compared with the same period in 2019, according to the U.S. Census Bureau. E-commerce accounted for a record-high 15.1 percent of total retail sales from April through June.

A forecast from commercial real estate services provider Avison Young indicates the U.S. upswing in e-commerce sales will benefit one segment of Houston's real estate sector more than any other in 2021 — industrial. Riding this year's e-commerce wave, Houston's industrial market will "remain solid" next year, the forecast says.

"Industrial continues to outperform all other asset types," Avison Young's report reads, "but higher vacancies and larger rent concessions will continue in 2021 as the new supply outpaces immediate demand. Online shopping is strong, and national retailers are building large distribution centers and last-mile facilities throughout the metro."

The forecast cites several industrial projects underway or recently leased in the Houston area:

  • A 1 million-square-foot spec warehouse under construction in Baytown, near the Port of Houston. It's said to be one of the largest spec industrial facilities underway in the U.S. The developer is Hunt Southwest Industrial Real Estate. The warehouse is set to open in March.
  • A 1.5 million-square-foot distribution center under construction in New Caney for home improvement retailer Lowe's. The $65 million project, which will be the largest industrial facility in Montgomery County, is supposed to be ready for occupancy in July.
  • A newly completed 402,648-square-foot facility that online retailer Costway is occupying in Pasadena, near the Port of Houston.
  • Dunavant Distribution's expansion into a 784,000-square-foot leased property in Deer Park, near the Port of Houston.

Various e-commerce players are relying more and more on regional distribution centers, last-mile distribution facilities, and micro-fulfillment centers throughout the Houston area, according to Avison Young. E-commerce behemoth Amazon is driving a lot of this activity. For instance, the retailer is planning a 1 million-square-foot fulfillment center in Missouri City. That space is scheduled to open sometime in 2021. Meanwhile, an 850,000-square-foot Amazon fulfillment center is on tap for nearby Richmond.

In a third-quarter report, Avison Young noted that 15.1 million square feet of industrial space was under construction in the Houston area and 4.1 million square feet of industrial space had been completed, with net absorption of 1.1 million square feet.

The Port of Houston is helping propel many of the moves in Houston's industrial market. In October, the port notched its busiest month on record, with cargo activity sailing 15 percent above the same period in 2019. Operators of the port hope to begin work on widening of the Houston Ship Channel in 2021.

Nationally, this year's spike in online shopping rocked the retail boat. This surge has produced new generations of retailers and consumers, Avison Young says, and has put pressure on the entire supply chain. Furthermore, it has accelerated chatter about the road ahead for last-mile delivery and brick-and-mortar retail.

"Existing retail space, which was either redundant or surplus to requirements, is being repurposed to facilitate 'click and collect' models," per the report. "Retailers are adjusting the 'front end' consumer-facing component of the store for showroom or experiential space to complement traditional browse-and-buy activity. In-store staff, coupled with technology investments, are being channeled into order picking and back-of-house fulfillment activities."

"Traditional stores were always a combination of the retail and logistics functions; recent trends suggest a renewed recognition of this dual role," the firm adds. "As surplus retail space becomes cheaper and more available, innovations around hyperlocal delivery will be a key part of reimagining the future of retail."

Florida startup Fit:Match chose Houston for its first location of its AI-enabled retail store. Photo via shopfitmatch.com

New Houston-area store pops up to optimize artificial intelligence for retail shopping

fashion forward

In November, on the first floor of Friendswood's Baybrook Mall, wedged between the Abercrombie & Fitch and the Apple Store, a small studio popped up. At the window, a bubblegum assortment of balloons replaced the usual spruced-up manakin, and the shop is sparse for racks of clothing.

That's because the Fit:Match studio isn't really trying to sell clothes — it's trying to help you buy them online. By fusing artificial intelligence with retail shopping, Fit:Match makes ordering clothes online more trustworthy. The writing on the walls promised to revolutionize the way that people could: "Shop what fits. Not what doesn't," reads a neon sign. The tech might not only reduce long waits for the dressing room — it could abolish it altogether.

"You never have to try on clothes again," says Haniff Brown, founder of the Florida-native startup.

The store does have a fitting room, but Brown says it's not really for trying on clothes — it's for preparing to "get fitched," the process through which the imaging tech measures a customer's body.

It's fitting that the pop-up sits next to the iPhone giant. Fit:Match uses the same 3D imaging tech as Apple's FaceID, Brown says, which blasts infrared light at thousands of dots at a user's face. Where the light bounces off, the AI technology images the person's face. The sensors at the Fit:Match studio in Baybrook Mall expand this to the rest of the body. In 10 seconds, the AI sensor lets people sketches a customer's shape through 150 measurements.

Those measurements become indicators of how well a piece of clothing will fit the wearer. In the initial phase of the project, Brown's team fitched thousands of women — wanting to keep things neat, the company hasn't ventured into men's fashion yet — and compared the scores of the AI's algorithm with how the women scored their own clothes.

Now, once a customer has been fitched at the Baybrook studio, she can log online through an app or the company site and sift through thousands of clothes that will likely fit her. Each clothing item — mostly smaller brands that range from eclectic pieces and dresses to athleisure right now, Brown says, although he's already working to partner with better-known labels — is rated with a percentage of how well it's likely to fit the individual customer, based on her measurements and on how snug or loose she likes her wear. From the array of brands, she'll get specific matches — clothes that have a 90 percent chance or higher of fitting — that might look completely different from a friend's. Over time, the app will also update her on the latest matches.

"You're going to have this personalized wallet," Brown says, adding that this will also decrease a store's rate of return. "You will see a completely truncated assortment of clothes that are meant to fit you."

The Baybrook Mall hosts Fit:Match's first location. Brown says he chose the Houston area for its size and demographics, calling it a "hotbed to test new ideas, to get traction, to get customer feedback," and is even considering expanding to the Woodlands Mall and other places around Texas, too. It's also not far from the Austin-based Capital Factory, which brought Fit:Match under its wing late last year to help the startup raise $5 million.

In the meantime, the five-member management team at Fit:Match is focused on getting more Houstonians fitched. In the first month of operations, the studio measured more than 1,200 mallgoers, and Brown says the company could fitch a quarter million in the next two or three years.

"We think that the opportunity here is immense," Brown says.

The Nap Bar offers "pay-by-snooze" rest. Photo by Dominique Monday

New Rice Village nap bar refreshes sleep-deprived Houstonians

Stay woke

Khaliah Guillory wants to put you to sleep. To clarify: She wants you to nap. And the power nap is all the rage right now. Busy workers, executives and entrepreneurs in New York, Europe, and Japan are all napping during the day — taking a short snooze that not only helps them be more productive in their daily tasks, but allows them to be healthier.

"Americans lose 1.2 million work days because of sleep deprivation," Guillory tells CultureMap. "That costs the economy $411 billion. And the Centers for Disease Control estimate that driving while you're sleep deprived is the equivalent of driving under the influence."

To counter the trends, Guillory will open Nap Bar in Rice Village. Slated for a late April unveiling, a pay-by-the-snooze napping facility will be at the back of New Living. Guillory has partnered with the company, already known for its commitment to sustainability. Nap Bar's custom-patented napping pods are designed with sound-proof materials and contain organic, nontoxic Bungaloom mattresses and bedding.

A Comfort Concierge will greet visitors and lead them to a private suite surrounded with T.L.C. There are also two shared nap pods with twin mattresses available. Naps are scheduled 20 to 26 minutes for short-term alertness, or longer, if needed. A 20-minute snooze will set you back $25, while 26 minutes run $32. (If you're looking for a full hour, that's available for $69). Sleeping pods have blackout curtains and are soundproof.

Guillory has also made the napping experience into a luxury one so Nap Bar nappers receive complimentary aromatherapy and custom brain wave therapy with every siesta. Other add-ons include, lymphatic massages, hot showers, espressos, and EarthCraft Juicery blends that are crafted from raw, healing ingredients. The all-organic experience all designed to provide gentle healing and peaceful rest.

"Our culture tells us that if you're napping during the day, you're either a kid or you're lazy," says Guillory. "But that's not true. If you take as little as 20 minutes to nap, you'll feel revitalized."

A snooze story
Guillory didn't intend to become a nap guru. Like many things in life, however, necessity became the mother of invention. While working as an executive for a Fortune 500 company, Guillory was traveling heavily, catching brief bits of shut-eye in airport lounges or her car. At one point she found herself in Richmond, with an hour and a half to kill before her next meeting in Houston. Driving straight into town would make her far too early for her appointment. There wasn't time to go home. And checking into a hotel seemed silly.

"That's when my wife said to me, Google nap spaces in Houston," she recalls. She did. There were none. And that's why she created her own. "I wanted a safe haven for people to unplug," Guillory says. "It doesn't have to be full-on sleep. It can be relaxation, meditation, whatever you need."

And far from resting on her own laurels with her business on the cusp of opening, Guillory is pursuing other nap-centric opportunities. She's looking to partner with area businesses to incorporate nap pods into their space for employees, and is planning a Nap Bar Snooze Unit, a mobile tour bus that will "roll through downtown and let people take power naps," she explains.

She generated a great deal of interest when she took her concept on the road to Bush Intercontinental Airport earlier this week, displaying the nap pod and sharing the feedback she'd received from Nap Bar's beta testers. That input is something she takes seriously; when Nap Bar debuts, it'll be with products that her testers recommended — and they had opinions on everything from the bedding to the materials used in the pod.

"I want to turn sustainable rest into sustained productivity," says Guillory. "And I think this is just what Houston needs."

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This article originally ran on CultureMap.

Oils and scents help you relax. Photo by Dominique Monday

SeeHerWork launched its line of female-gear in September. Courtesy of SeeHerWork

Houston company aims to equally equip female workers

If the glove doesn't fit

When Jane Henry was working on her home right after Hurricane Harvey — her house got three feet of mud in it — she went to throw a board into the dumpster, and her glove went with it.

Henry says the industry standard is to recommend small and extra-small sizes for women's workwear, but as a ladies large in athletic gloves, Henry still had a good inch or so of glove at her fingertips in her workwear gloves.

"I went upstairs to my sewing room, and I ripped that glove apart and I resewed it to fit my hand," Henry says.

Other women stopped her in hardware stores to ask her about her shoddily sewn glove, and she realized this was the idea for next company. She incorporated SeeHerWork a few months later in January of 2018, and she launched her line of clothing in September, just a year after she had the idea. Based in Houston, SeeHerWork rents warehouse space in Kingwood and has its corporate office in Midtown.

Doing the legwork
Henry is no stranger to the startup game. She created her own consulting company, Xcution Inc., over 16 years ago, but she downsized the company in 2016 when oil prices took a turn. Instead, she went into Rice University's MBA program, where, ultimately, she created a network of associates that would eventually help SeeHerWork grow.

"I've been a serial entrepreneur — been trying to avoid calling myself that," says Henry. "I have two entrepreneurial parents, and I told myself I'd never be an entrepreneur, yet that's what I keep doing."

Through her business expertise and education, she knew she had to start with a one-page business plan for the company. She then took her idea to over 50 focus groups made up of 10 to 20 female workers, safety managers, and procurement managers across industries — transportation, military oil and gas, engineering, and more.

"The response was eerily similar despite the industry," Henry says.

The focus group participants were tired of the "pink it and shrink it" approach to women's workwear and equipment. They felt like if their supplies don't fit, they don't fit. Mentorship opportunities and performance are then subsequently hindered, creating a spiral effect of deterring women from entering the skilled labor workforce. This is a huge problem, considering there's the recent labor shortage with these types of jobs.

She took this information and her first prototypes to a national pitch competition to great success — and a standing ovation. Henry also connected with the Rice Angel Network, Station Houston, The Cannon, and other local innovation-focused entities.

Roadwork ahead
Henry has big plans for SeeHerWork, and is in talks with a few large entities — like the Houston Airport System, Fluor Corp., and Toyota — that have expressed interest in using her gear for their workforce. Henry also wants to expand her products and reach female workers through retail — online and in store.

"Ultimately, SeeHerWork is the Lululemon of workwear," Henry says.

SeeHerWork is focused on keeping women safe, firstly, but also encouraging more women to enter the skilled labor workforce and then work their way up the ladder.

"I don't want people to think of us as a workwear company," Henry says. "I want them to think of us as an inclusion company. Mostly because just like professional sports team, the first step is the right clothing and equipment and the second step is working to be a team and working together."

At your fingertips

  

Courtesy of SeeHerWork

SeeHerWork has a full line of products, from gloves and bags to safety vests and long-sleeves shirts. She's launching more products — like coveralls, pants, and footwear — soon.

Suitcase company, Tiko, raised $100,000 in its first crowdfunding campaign. Courtesy photo

Texas-based travel brand unpacks stylish and affordable luggage

Wheels up

If Marcus Segui's successful 2016 Kickstarter is any indication, people are looking for innovative ways to make traveling a little easier. With that intention in mind, Segui launched Tiko, a Texas-based travel brand shaking up the industry by providing affordable, beautifully designed, quality luggage to passengers across the world.

On November 1, Tiko rolled into the world with its signature carry-on, priced at $195, and designed to fit in overhead bins (a must for those of us who find baggage fees insulting). Available only online, the company's first bag comes with 360-degree spinning wheels, and is offered in charcoal and gray.

For the Texas-born Segui, the idea for his company was born out of one thing: he travels — a lot. After a career in finance in New York, Segui traveled to Colombia, a trip that ended up lasting three years. "I got a Spanish tutor, found an apartment, and started looking for a way to do business," Segui says. "Before long I linked up with a local investment fund who asked me to launch a real estate company for them."

"Running a business in Spanish was really hard," he jokes, and by the time Segui decided to leave Colombia, he had logged countless flights across South and Central America. The University of Texas grad eventually made his way back to Austin with a busted carry-on in tow.

"After my time in New York and South America, I decided to return to Austin for two reasons: friends and family. Every entrepreneur needs to lean on their network to get a new company off the ground," he says.

And oh how that network helped. Unable to find a carry-on replacement that was both durable and affordable, Segui got the idea for a direct-to-consumer luggage company designed to bypass retailers and thus cut the price point for the luggage in half.

Segui began development on a series of prototypes, eventually landed on Tiko's current carry-on model, and decided to launch a Kickstarter to gauge interest (and funds, of course). The campaign raised over $100,000, allowing Segui to take off with the new company.

In order to move the company into its next phase, Segui assembled a who's who team of tech talent, including former execs from YETI and Airbnb. Earlier this month, the company officially launched its first product from its coworking space headquarters in South Austin.

A few weeks into the new endeavor, it remains to be seen if the public will embrace Tiko, but its launch points to a growing trend: consumers are demanding a different travel experience. Suddenly, people are beginning to question the inconvenient, expensive, and yes, unstylish things that must be endured in order to get from one point to another.

Perhaps one day we'll return to that glamorous apex of airline travel, the time where no one wore pajamas and passengers didn't have to line up like cattle to board the aircraft. Until then, at least we can have nice luggage.

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This story originally appeared on CultureMap.

B8ta has all the perks of a digital marketplace — but customers are able to physically test all the products. Photo by Natalie Harms

10 futuristic products you can buy today in this Galleria store that's flipping the script on retail

You b8ta believe it

Retail is in a transformative phase, as more and more consumers are shopping online. According to United States Census data, over 9 percent of this year's first-quarter retail sales were e-commerce transactions — that's more than doubled in less than 10 years. But one brick-and-mortar retailer has a new approach to sales for new, innovative products entering the marketplace.

San Francisco-based b8ta opened its first store in 2015, and now has 13 flagship stores nationwide — in addition to having setups in Lowe's stores across the country. Houston's first and only location opened in October of 2017 in the Galleria.

The store acts as a general marketplace, where companies can rent shelf space at the store to feature their products — everything from home accessories to tech gadgets and even items like electric skateboards. Consumers can come into the store and test products, and the developers can see — in real time — how customers are interacting with their products.

"If you look at our store, nothing's in a box. Everything is out on display," says Jalal Bsaiso, b8ta Houston's general manager. "Everything has a tablet with information on the product, and that data is controlled by the maker — they can swap photos, change pricing, all on the fly. They also can see analytics in real time. They can see how many people walk by their product and how long they are engaging. Sales associates log demos we do with the customer, so the partner can see that too."

Bsaiso says that innovators have trouble entering brick-and-mortar sales because consumers need to take the products out of the box to experience them and have a sales associate educate and demonstrate how to use the product. The company's three founders — Phillip Raub, Vibhu Norby, and William Mintun — worked at Nest, a smart home technology product, prior to launching b8ta. They saw Nest struggle to get into brick-and-mortar stores and started envisioning a concept that would be right for products like Nest.

"Online it's easy to sell something," Bsaiso says. "You post it on your website, you have analytics, and you can see how people got to your website and what they purchased. There's nothing like that in physical retail."

Product makers can apply online to become b8ta partners. Usually, each partner has products in at least half of the 13 stores, and every product has an inventory of six to 10 products in the store.

"Retail is evolving," Bsaiso says. "I think everything is moving toward experience. You don't want to spend $200 online on a product that might not even work for you from a company you're not really familiar with."

The store will stock any types of products in its stores, as long as it fits the bill as an innovative product. Here are 10 that seem like are from the future.

A self-caring herb garden

Photo by Natalie Harms

The Véritable Indoor Garden has lights that mimics the sun and a tank of water that together lets your plants be all set for up to 3 weeks.

A camera with 16 lenses

Photo by Natalie Harms

The Light L16 camera would make a spider jealous. With 16 lenses, the camera captures all the different types of lighting and focus to ensure you capture the best picture.

A gadget to make you fluent in every language

Photo by Natalie Harms

Here's one for the world traveler. Pocketalk Two-Way Voice Translator allows you to translate what someone is trying to tell you, and vice versa.

A collar that tells you everything you need to know about Fido

Photo by Natalie Harms

The LINK AKC™ Smart Dog Classic Collar tells you everything from location and body temperature to even recording activity.

A device that swims for you

Photo by Natalie Harms

Going on an underwater adventure? The WHITESHARK MIX Underwater Scooter is the smallest underwater scooter and takes you 3.35 miles per hour with its two propellers.

A shark-preventing ankle band

Photo by Natalie Harms

The Sharbanz technology prevents any nefarious sharks from coming anywhere close to you.

A robot to talk to your child

Photo by Natalie Harms

Tyche AI Learning Robot for Kids learns your child's facial expression, name, and voice to communicate, educate, and interact with him or her.

A next-gen speaker that features the song's lyrics

Photo by Natalie Harms

Ever wonder what that one lyric is in your favorite song? COTODAMA Lyric Speaker will tell you. In addition to featuring the lyrics of most popular songs, the speaker will visualize any tune you queue.

A deep tissue massager the size of headphones

Photo by Natalie Harms

The UGYM mini Deep Tissue Massager vows to relieve back pain and help you sleep better. And, it's on sale.

A handheld smart safety device

Photo by Natalie Harms

Much like your actual father, D.A.D.® 2 (Defense Alert Device), is here to keep you safe. It tracks your location and can send an emergency alert on your behalf. Plus, there's also the military-grade pepper spray to also keep an attacker at bay.

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Houston femtech co. debuts first holistic wellness suite following rebrand

work perks

Houston-based femtech company Work&, previously Work&Mother, debuted new lactation suites and its first employee wellness space at MetroNational’s Memorial City Plazas this month.

The 1,457-square-foot Work& space features three lactation rooms and five wellness suites, the latter of which are intended to offer employees a private space and time for telehealth appointments, meditation, prayer, and other needs. The hybrid space, designed by Houston-based Inventure, represents Work&'s shift to offer an array of holistic health and wellness solutions to landlords for tenants.

Work& rebranded from Work&Mother earlier this year. The company was previously focused on outfitting commercial buildings with lactation accommodations for working parents, equipped with a hospital-grade pump, milk storage bags, sanitizing wipes, and other supplies. While Work& will still offer these services through its Work&Mother branch, the addition of its Work&Wellbeing arm allows the company to also "address the broader wellness needs of all employees," according to an announcement made on LinkedIn.

"We are thrilled to bring Work&Mother and Work&Wellbeing to The Plazas," Jules Lairson, co-founder and COO of Work&, said in a news release. “This partnership brings every stakeholder together – employees, employers and landlords all benefit from this kind of forward-thinking tenant experience. We are excited to launch our Work&Wellbeing concept with MetroNational to ensure that all employees have their wellness needs met with private, clean, quiet spaces for use during the workday.”

The new space is available to all tenants across Memorial City Plazas, comprised of three office towers totaling 1 million square feet of Class A office space. In addition to the lactation and wellness suites, the space also features custom banquettes, private lounge seating and phone booths.

“As a family-owned and operated company, MetroNational is deeply committed to fostering a workplace that supports both productivity and the well-being of all our tenants,” Anne Marie Ratliff, vice president of asset management for MetroNational, added in the release. “Partnering with Work& reinforces this commitment, enhancing our workplace experience and setting a new standard for tenant amenities.”

Work& has five Houston locations and several others in major metros, including New York, Austin, D.C., Boston, Chicago, San Francisco, and Miami. According to its website, the company will also introduce a Work&Wellbeing suite in New York.

Abbey Donnell spoke with InnovationMap on the Houston Innovators Podcast about why she founded the company and its plans for growth in 2021. Click here to learn more.

9 Houston universities make U.S. News' list of best grad schools 2025

Top of the class

Nine Houston universities have climbed through the ranks in U.S. News & World Report’s recently released report of the best graduate schools nationwide for 2025. Several graduate programs also appeared among the top 10 in a Texas-wide comparison.

U.S. News published its annual national "Best Graduate Schools" rankings on April 8. They look at several programs including business, education, engineering, fine arts, health, and many others.

For the 2025 report, the publication added new Ph.D. social sciences and humanities program rankings in English, history, political science and sociology for the first time since 2021. U.S. News also ranked graduate economics and psychology programs in the social sciences and the humanities for the first time since 2022.

Among the newcomers are Houston Christian University and Texas Southern University.

Here's how the nine local schools ranked, statewide and nationally, and how they compared with last year's national ranking:

University of Houston

  • No. 4 best graduate engineering school in Texas; No. 72 nationally
  • No. 5 best graduate education school in Texas; No. 81 nationally (down from No. 63 last year)
  • No. 5 best law school in Texas; No. 63 nationally (up from No. 68)

The University of Houston Law Center has the No. 9 best health law program in the nation, and ranked No. 15 for its legal writing program. The university's part-time MBA program ranked No. 38 nationally

University of Houston, Clear Lake

  • No. 12 best graduate education school in Texas; No. 166 nationally

The Clear Lake branch of the University of Houston tied for No. 166 for its part-time MBA program.

Houston Christian University

  • No. 21 best graduate education school in Texas; tied for No. 234-258 nationally

University of Texas Health Science Center

  • No. 1 best Doctor of Nursing Practice program in Texas; No. 33 nationally (up from No. 45)
  • No. 2 best graduate nursing program in Texas; No. 41 nationally (down from No. 31)

Prairie View A&M University, Northwest Houston Center

  • No. 5 best graduate nursing program in Texas; No. 104 nationally (up from No. 117)
  • No. 7 best Doctor of Nursing Practice program in Texas; tied for No. 143-158 nationally

Rice University

  • No. 2 best graduate business school in Texas; No. 29 nationally (unchanged)
  • No. 3 best graduate engineering school in Texas; No. 26 nationally

Rice's entrepreneurship program is the 9th best in the country, and its part-time MBA program ranked 13th nationally. The George R. Brown School of Engineering earned nods for its No. 10-ranking biomedical engineering and environmental engineering programs.

University of Texas Medical Branch, Galveston

  • No. 5 best Doctor of Nursing Practice program in Texas; No. 76 nationally

South Texas College of Law Houston

  • No. 7 best law school in Texas; No. 138 nationally

Out of the 11 law programs ranked by U.S. News, the South Texas College of Law performed the best for its trial advocacy (No. 12), dispute resolution law (No. 23), and legal writing (No. 51) programs.

Texas Southern University

  • No. 10 best law school in Texas; tied for No. 178-195 nationally

More specifically, TSU has the 64th best trial advocacy law program in the nation, U.S. News said.

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This article originally appeared on our sister site, CultureMap.com.

VC firm partners with Rice Nexus to open first global office

strategic partnership

Luxembourg-based venture capital and advisory firm MoreThan Capital (MTC) has established its first global office at the new Rice Nexus in Houston’s Ion District as part of a strategic partnership aimed at fostering entrepreneurship and growing Houston as an innovation hub.

MTC has committed to offering its “time, mentorship, industry expertise and global connections” to Rice Nexus. The state-of-the-art Rice Nexus, which opened earlier this year, aims to support and provide resources for ventures that are looking to scale and have "artificial intelligence (AI) as a central pillar of its innovation strategy," according to a statement from Rice.

“The Rice Nexus is a launchpad for world-changing ideas, and this partnership with MoreThan Capital is a key step in realizing that vision,” Sanjoy Paul, executive director of the Rice Nexus, said in a news release. “By combining Rice’s research and entrepreneurial talent with MTC’s global network and mentorship, we are creating an unparalleled engine for innovation that starts in Houston and reaches the world.”

MoreThan Capital has over 100 limited partners, including senior executives and professional investors, based in more than 35 countries.

“Establishing our first global office at the Rice Nexus within the Ion District is a significant milestone for MoreThan Capital,” Guillermo Ruiz, general partner of MoreThan Capital, said in a news release. “We are dedicated to partnering with top-tier academic institutions like Rice University and aligning with organizations that share our core values of trust, engagement and impact.”

The announcement comes just a few weeks after Rice Nexus announced its partnership with Google Public Sector to launch the new Rice AI Venture Accelerator, or RAVA.

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