The new building, which will be integrated with McNair Hall at Rice University, will deliver in 2026. Rendering via Rice.edu

Rice University broke ground last week on an innovative $54.5 million building for the Jones Graduate School of Business that is designed to be built around the current structure and also integrate with McNair Hall.

The 112,000-square-foot building aims to support Rice Business as it continues to grow while centralizing the university's new undergraduate business education and entrepreneurship programs. It's slated to be completed by spring 2026.

“We are energized by the momentum of our innovative new programs, the addition of new faculty and students and a fresh outlook on the future,” Peter Rodriguez, dean of the Jones Graduate School of Business, says in a statement. “Our commitment is to attract more talented and innovative students, faculty and staff to Rice, who will further improve our programs and research capabilities. This wonderful new facility is critical to fulfilling that commitment.”

The 112,000-square-foot building broke ground last week. Photo via Rice.edu

The building will feature two 120-seat classrooms, two 65-seat classrooms and breakout rooms as well as a dining area on the first floor.

It will reflect Rice's traditional brick facade while enclosing the Woodson Courtyard to create a large atrium. A new triple-heigh pathway called The Walk will connect the area to Rice's new West Commons.

Rodriguez previously shared about his vision for expanding Rice Business on the Houston Innovators Podcast.

Rice's Architecture Research Office is leading the design of the project. Houston-based Kirksey Architecture serves as the project’s executive architect.

The university is seeking to fundraise $40 million for the project. According to Rice, the university's business programs saw a 50 percent increase in students and a 41 percent increase in faculty to support new programs in the last 10 years.

Rice launched its undergraduate business program in 2021. According to the fundraising website for the building, Rice Business has seen a 79 increase in enrollment and business became the second most popular major for first-year students, after computer science, since the program began .

Rice's Architecture Research Office is leading the design of the project. Houston-based Kirksey Architecture serves as the project’s executive architect. Rendering via Rice.edu

“This remarkable new building embodies the evolution of Rice Business over the past five decades and its commitment to equipping graduates who are not only integral to organizations around the globe but are also poised to lead them,” Rice President Reginald DesRoches says in a statement. “We’re committed to offering top-tier facilities that complement our top-ranked academic programs, attracting the best students, faculty and staff to our campus.”

At the start of the academic year, Rice also opened The Ralph S. O’Connor Building for Engineering and Science, its largest core campus research facility. The 250,000-square-foot building is the new home for four key research areas at Rice: advanced materials, quantum science and computing, urban research and innovation, and the energy transition.In October, Rice and Houston Methodist teamed up to open the new Center for Human Performance.

deleteSneak Peek: The New Rice Business Buildingwww.youtube.com

This year, Rice University's NRLC started with 100 student venture teams before being whittled down to the final five at the championship. Photo courtesy of Rice

Rice University's student startup competition names 2024 winners, awards $100,000 in prizes

taking home the W

A group of Rice University student-founded companies shared $100,000 of cash prizes at an annual startup competition.

Liu Idea Lab for Innovation and Entrepreneurship's H. Albert Napier Rice Launch Challenge, hosted by Rice earlier this month, named its winners for 2024. HEXASpec, a company that's created a new material to improve heat management for the semiconductor industry, won the top prize and $50,000 cash.

Founded by Rice Ph.D. candidates Tianshu Zhai and Chen-Yang Lin, who are a part of Lilie’s 2024 Innovation Fellows program, HEXASpec is improving efficiency and sustainability within the semiconductor industry, which usually consumes millions of gallons of water used to cool data centers. According to Rice's news release, HEXASpec's "next-generation chip packaging offer 20 times higher thermal conductivity and improved protection performance, cooling the chips faster and reducing the operational surface temperature."

The rest of the winners included:

  • Second place and $25,000: CoFlux Purification
  • Third place and $15,000: Bonfire
  • Outstanding Achievement in Social Impact Award and $1,500: EmpowerU
  • Outstanding Achievement in Artificial Intelligence and $1,000: Sups and Levytation
  • Outstanding Achievement in Consumer Goods Prize and $1,000: The Blind Bag
  • Frank Liu Jr. Prize for Creative Innovations in Music, Fashion and the Arts and $1,500: Melody
  • Outstanding Achievement in Climate Solutions Prizes and $1,000: Solidec and HEXASpec
  • Outstanding Undergraduate Startup Award and $2,500: Women’s Wave
  • Audience Choice Award and $2,000: CoFlux Purification

The NRLC, open to Rice students, is Lilie's hallmark event. Last year's winner was fashion tech startup, Goldie.

“We are the home of everything entrepreneurship, innovation and research commercialization for the entire Rice student, faculty and alumni communities,” Kyle Judah, executive director at Lilie, says in a news release. “We’re a place for you to immerse yourself in a problem you care about, to experiment, to try and fail and keep trying and trying and trying again amongst a community of fellow rebels, coloring outside the lines of convention."

This year, the competition started with 100 student venture teams before being whittled down to the final five at the championship. The program is supported by Lilie’s mentor team, Frank Liu and the Liu Family Foundation, Rice Business, Rice’s Office of Innovation, and other donors

“The heart and soul of what we’re doing to really take it to the next level with entrepreneurship here at Rice is this fantastic team,” Peter Rodriguez, dean of Rice Business, adds. “And they’re doing an outstanding job every year, reaching further, bringing in more students. My understanding is we had more than 100 teams submit applications. It’s an extraordinarily high number. It tells you a lot about what we have at Rice and what this team has been cooking and making happen here at Rice for a long, long time.”

HEXASpec was founded by Rice Ph.D. candidates Tianshu Zhai and Chen-Yang Lin, who are a part of Lilie’s 2024 Innovation Fellows program. Photo courtesy of Rice

In emerging markets, pricing — not reputation — drives the partnership between underwriter and IPO. Photo via business.rice.edu

How to evaluate an IPO, according to Houston researchers

houston voices

Many investors assume they can judge the strength of an IPO based on the reputation of the underwriter supporting it.

However, a recent study by Rice Business professors Anthea Zhang and Haiyang Li, along with Jin Chen (Nottingham University) and Jing Jin (University of International Business and Economics), proves this is only sometimes true — depending on how mature the stock exchange is.

Getting your company listed on the stock market is a big step. It opens new opportunities to raise money and grow the business. But it also means facing increased regulations, reporting requirements and public scrutiny.

To successfully launch an initial public offering (IPO), most companies hire “underwriters” — financial services firms — to guide them through the complex process. Because underwriters have expertise in valuations, filing paperwork and promoting to investors, they play a crucial role in ushering companies onto the market.

In well-established markets like the New York Stock Exchange (NYSE), an underwriter’s reputation carries immense weight with investors. Top-tier banks like Goldman Sachs have built their reputations by rigorously vetting and partnering with only the most promising companies. When Goldman Sachs takes on the role of underwriter, it sends a strong signal to potential investors that the IPO has met stringent standards. After all, a firm of Goldman’s caliber would not risk tarnishing its hard-earned reputation by associating with subpar companies.

Conversely, IPO firms recognize the value of having a prestigious underwriter. Such an association lends credibility and prestige, enhancing the company’s appeal. In a mature market environment, the underwriter’s reputation correlates to the IPO’s potential, benefiting both the investors who seek opportunities and the companies wanting to make a strong public debut.

However, assumptions about an underwriter’s reputation only hold true if the stock exchange is mature. In emerging or less developed markets, the reputation of an underwriter has no bearing on the quality or potential of the IPO it pairs with.

In an emerging market, the study finds, investors should pay attention to how much the underwriter charges a given IPO for their services. The higher the fee, the riskier it would be to invest in the IPO firm.

To arrive at their findings, the researchers leveraged a unique opportunity in China’s ChiNext Exchange. When ChiNext opened in 2009, regulations were low. Banks faced little consequence for underwriting a substandard IPO. Numerous IPOs on ChiNext were discovered to have engaged in accounting malpractice and inaccurate reporting, resulting in financial losses for investors and eroding confidence in the capital markets. So, for 18 months during 2012-2013, ChiNext closed. When it reopened, exchange reforms were stricter. And suddenly, underwriter reputation became a more reliable marker of IPO quality.

“Our research shows how priorities evolve as markets mature,” Zhang says. “In a new or developing exchange without established regulations, underwriter fees paid by IPO firms dictate the underwriter-company partnership. But as markets reform and mature, reputation and quality become the driving factors.”

The study makes a critical intervention in the understanding of market mechanisms. The findings matter for companies, investors and regulators across societies, highlighting how incentives shift, markets evolve and economic systems work.

The research opens the door to other areas of inquiry. For example, future studies could track relationships between underwriters and companies to reveal the long-term impacts of reputation, fees and rule changes. Research along these lines could help identify best practices benefiting all market participants.

“In the future, researchers could explore how cultural norms, regulations and investor behaviors influence IPO success,” says Li. “Long-term studies on specific underwriter-firm pairs could reveal insights into investor confidence and market stability. Understanding these dynamics can benefit companies, investors and policymakers alike.”

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This article originally ran on Rice Business Wisdom and was based on research from Yan “Anthea” Zhang, the Fayez Sarofim Vanguard Professor of Management – Strategic Management at Rice Business, and Haiyang Li, the H. Joe Nelson III Professor of Management – Strategic Management at Rice Business.

Here's what you should learn from social media influencers for your own business marketing. Photo via Getty Images

Key business marketing tips to take from top social media creators, according to these Houston researchers

houston voices

Influencer marketing is booming, with companies allocating 10 to 25 percent of their advertising budgets to influencer-led strategies. Between 2016 and 2020, the number of sponsored posts rose from 1.26 million to 6.12 million, and overall spending in the past few years has grown by billions.

When partnering with online ambassadors, brands certainly want a large influencer audience. However, audience size does not necessarily reflect the amount influencers are paid. Influencers with similar-sized audiences can be paid very different amounts.

That’s partly because brands also want an engaged influencer audience. An influencer may have many followers, but if those followers don’t actively interact with content, the influencer’s reach is limited. Engagement metrics like comments, shares and “likes” are often a more reliable indicator of impact than follower count alone.

The problem brands face — no matter who the influencer is — is that sponsored posts typically see a plunge in engagement, making it difficult to measure their success. Very little research examines this effect and how influencers can mitigate it.

In a new study, Rice Business professors Jae Chung and Ajay Kalra take up this issue, along with Stanford professor Yu Ding. According to the researchers, one way of boosting engagement overall, even on sponsored content where engagement often falls, is for influencers to increase audience perceptions of authenticity, perceived similarity, and interpersonal curiosity.

Even in a world full of filters and careful staging, authenticity is a key differentiator for leaders, businesses and personalities. One powerful way of appearing true to one’s own personality or character is to effectively share life stories. But social media influencers walk a fine line between presenting their authentic selves and monetizing their platforms.

To attract followers and content sponsors, influencers must curate the images they share, the words they say, and the timing and cadence of their posts. It’s a delicate dance between providing value through a genuine audience connection and aligning with brand interests.

Here are three simple but powerful ways that influencers can boost engagement by highlighting close relationships:

  • Post photos that include one or two close friends or family members.
  • Mention friends and family in the caption.
  • Use first-person language (e.g., “I,” “my” and “we”).

Referencing close social ties is an especially powerful way to boost engagement. According to Professor Chung, “Intimate social ties can make influencers seem more authentic and sponsored messaging seem less transactional.” This effect holds true even when controlling for variables like gender, frequency of posting, use of emojis and hashtags, and audience familiarity with the influencer.

The team analyzed over 55,000 Instagram posts from 763 top influencers during the second half of 2019. One of their most distinctive findings is that, in terms of boosting audience engagement, the ideal number of faces in a photo is three — the influencer plus two friends or family members. For an Instagram audience, this numerical face count proves a surprisingly effective metric for assessing the closeness of relationships.

Influencers can also seem more genuine to followers by referencing intimate social ties in their captions. Terms like “grandpa,” “bestie” and “soulmate” give followers access to an inner circle usually reserved for loved ones, making them feel more connected and invested in the influencer’s world and worldview.

In one experiment, study participants were shown a series of Instagram posts supposedly written by actor Jessica Alba. Testing the impact of language on the perception of close ties, the researchers wrote three different captions for the same image. One caption mentions Alba’s daughter (“Styling by my daughter. Isn’t this outfit cute?”). Another references a distant tie (“Styling by designer Kelmen. Isn’t this outfit cute?”). A third post provided a baseline by indicating no ties at all.

Study participants were asked to select which posts they liked most. The results supported the research hypothesis. Posts mentioning close relationships are significantly more likable than posts mentioning distant ties or no ties.

The team also examined the impact of expressing emotion on Instagram. Does sharing feelings — either positive or negative — help or hurt audience engagement? Using the Linguistic Inquiry and Word Count (LIWC) language processing program, the researchers categorized and analyzed the strength and valence of emotion-related words and emojis (e.g., “love,” “nice,” “frustrated,” “sad”).

What they found is surprising. Expressing emotion boosts audience engagement, perhaps because it bridges a perceived gap of celebrity between influencer and audience. But what’s interesting is that negative emotions are more powerful than positive ones. According to the researchers’ dataset, negative emotions are expressed only 9.08 percent of the time, while positive feelings are shared 36.03 percent of the time. So, one way of interpreting the finding is that the comparative rarity of negative feeling could take some readers by surprise, and thereby incite a stronger sense of authenticity.

Importantly, all of these findings regarding audience engagement most likely apply to platforms where a gray line exists between private and public life.

And, on this note, the researchers warn against the potential for oversharing and exploiting family and friends for the sake of monetizing content.

But the study shows how brands can strategically sponsor posts that incorporate close ties in photos, express emotion, or share anecdotes in first-person language.

By quantifying tactics to achieve a greater perception of authenticity, the research provides valuable guidance on how to cut through the noise on social media. One of the paths to a more engaged audience, it turns out, runs through an influencer’s inner circle.

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This article originally ran on Rice Business Wisdom and was based on research from Jaeyeon (Jae) Chung, an assistant professor of marketing at Rice Business, Yu Ding an assistant professor of marketing at Stanford Graduate School of Business, and Ajay Kalra, the Herbert S. Autrey Professor of Marketing at Rice Business.

This week's roundup of Houston innovators includes Peter Rodriguez of Rice University, Kike Oduba of WellnessWits, and Phil Sitter of RepeatMD. Photos courtesy

3 Houston innovators to know this week

who's who

Editor's note: In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries recently making headlines in Houston across business, software, and digital health.

Peter Rodriguez, dean of Rice University's Jones Graduate School of Business

Peter Rodriguez joins the Houston Innovators Podcast to discuss the school's growth and development as an innovation leader. Photo courtesy Annie Tao/Rice University

Entrepreneurship doesn't require a MBA from Rice University, but Dean Peter Rodriguez wants to make sure that the students who do pass through the halls of the Jesse H. Jones Graduate School of Business are well prepared for creating a successful company.

"We really want to be the deliverer of the software in people's brain of how to launch great companies and to be trumpeting the opportunities here," he says on the Houston Innovators Podcast.

Rodriguez joined the school as dean in 2016, and since then he's doubled MBA enrollment, grown the tenure-track faculty by over 40 percent, launched an online graduate degree, created an undergraduate business major, and more.

"When I came here, I thought Rice had the best strategic foundation of any university for a great business school — and a lot of that is being really closely connected to Houston and bringing in innovation," he says on the show. Read more.

Kike Oduba, founder and CEO of WellnessWits

WellnessWits, founded by Kike Oduba to enhance patient-physician interaction, has integrated AI with the help of IBM. Photo via WellnessWits.com

A Houston startup aimed at transforming healthcare with solutions for chronic disease and its prevention has teamed up with IBM technology.

WellnessWits has embedded IBM watsonx Assistant into its app for both iOS and Android. By making generative AI part of the app, WellnessWits now boasts an AI-based chat functionality.

That cutting-edge aspect of the platform allows patients to get information on chronic disease more quickly than ever, even before meeting with their physician. But it helps with that, too, aiding in scheduling appointments more easily with doctors who specialize in a host of chronic maladies.

“I founded WellnessWits as a platform for shared medical appointments where doctors with large patient loads can see them in groups and offer collective shared medical experiences to people suffering from chronic conditions. The goal is to bridge this divide, leveraging the strength of digital communities to enhance the overall well-being and healthcare experiences of individuals everywhere,” WellnessWits Founder and CEO Dr. Kike Oduba, a physician and informatician, writes in a blog post. Read more.

Phil Sitter, founder and CEO of RepeatMD

Fresh off a win at the Houston Innovation Awards, Phil Sitter's RepeatMD has raised funding. Photo via RepeatMD

Just nine months after its seed round, a Houston startup with a software platform for the aesthetic and wellness industry has secured $40 million in venture capital and $10 million in debt facility.

RepeatMD, a SaaS platform, announced today that it's secured $50 million, which includes a $10 million debt facility from Silicon Valley Bank. The round was co-led by Centana Growth Partners and Full In Partners with participation from PROOF and Mercury Fund, which also contributed to the seed round earlier this year.

The mobile ecommerce platform, launched in October 2021 by Phil Sitter, targets practices within the med spa and aesthetics industry. In the United States, the med spa market is slated to hit $19 billion in 2023, according to the company's press release, while the global aesthetics market is forecasted to reach to nearly $332 billion by 2030.

“Even though the aesthetics and wellness industry has continued to innovate a growing range of life-changing treatments, practices continue to face challenges selling treatments and services that are new and unfamiliar to patients,” Sitter, CEO of RepeatMD, says in the release. “Our goal at RepeatMD is to give these practice owners the technology to elevate their patients’ experience. Our platform serves as a med-commerce engine equipped with the same firepower as large retailers to convert sales inside and outside of practice operating hours.” Read more.

Serious product reviewers need peers and audiences to see them as credible. But new research indicates that pursuing credibility may compromise the objectivity of their evaluations. Photo via Getty Images

Houston research: How social pressures are affecting digital product evaluations

houston voices

Theoretically, product evaluations should be impartial and unbiased. However, this assumption overlooks a crucial truth about product evaluators: They are human beings who are concerned about maintaining credibility with their audience, especially their peer evaluators.

Because evaluators must also care about being perceived as legitimate yet skillful themselves, certain social pressures are at play that potentially influence their product reviews.

Research by Minjae Kim (Rice Business) and Daniel DellaPosta (Penn State) takes up the question of how evaluators navigate those pressures. They find that in some cases, evaluators uphold majority opinion to appear legitimate and authoritative. In other contexts, they offer a contrasting viewpoint so that they seem more refined and sophisticated.

Pretend a movie critic gives an uplifting review of a widely overlooked film. By departing from the aesthetic judgments of cinema aficionados, the reviewer risks losing credibility with their audience. Not only does the reviewer fail to understand this specific film, the audience might say; they fail to understand film and filmmaking, broadly.

But it’s also conceivable, in other situations, that the dissenting evaluator will come across as uniquely perceptive.

What makes the difference between these conflicting perceptions?

Partly, it depends on how niche or mainstream the product is. With large-audience products, Kim and DellaPosta hypothesize, evaluators are more willing to contradict widespread opinion. (Without a large audience, contradicting opinions are like the sound of a tree that falls in a forest without anyone nearby to hear.)

The perceived classiness of the product can affect the evaluator’s approach, as well. It’s easier to dissent from majority opinion on products deemed “lowbrow” than those deemed “highbrow.” Kim and DellaPosta suggest it’s more of a risk to downgrade a “highbrow” product that seems to require more sophisticated taste (e.g., classical music) and easier to downgrade a highly rated yet “lowbrow” product that seems easier to appreciate (e.g., a blockbuster movie).

Thus, the “safe spot” for disagreeing with established opinion is when a product has already been thoroughly and highly reviewed yet appears easier to understand. In that case, evaluators might sense an opportunity to stand out, rather than try to fit in. But disagreeing with something just for the sake of disagreeing can make people think you’re not a fair or reasonable evaluator. To avoid that perception, it might be better to agree with the high rating.

To test their hypotheses, Kim and DellaPosta used data from beer enthusiast site BeerAdvocate.com, an online platform where amateur evaluators review beers while also engaging with other users. Online reviewers publicly rate and describe their impressions of a variety of beers, from craft to mainstream.

The data set included 1.66 million user-submitted reviews of American-produced beers, including 82,077 unique beers, 4,302 brewers, 47,561 reviewers and 103 unique styles of beer. The reviews spanned from December 2000 to September 2015.

When the researchers compared scores given to the same beer over time, they confirmed their hypothesis about the conditions under which evaluators contradict the majority opinion. On average, reviewers were more inclined to contradict the majority opinions for a beer that had been highly rated and widely reviewed. When reviewers considered a particular brew to be a “lowbrow,” downgrading occurred to an even greater extent.

Kim and DellaPosta’s research has implications for both producers and consumers. Both groups should be aware of the social dynamics involved in product evaluation. The research suggests that reviews and ratings are as much about elevating the people who make them as they are about product quality.

Making evaluators identifiable and non-anonymous may help increase accountability for what they say online — a seemingly positive thing. But Kim and DellaPosta reveal a potential downside: Knowing who evaluators are, Kim says, “might warp the ratings in ways that depart from true objective quality.”

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This article originally ran on Rice Business Wisdom and was based on research from Minjae Kim, assistant professor of Management – Organizational Behavior at Rice Business, and Daniel DellaPosta, associate professor of Sociology and Social Data Analytics at Pennsylvania State University.

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Expert: How to best repurpose Houston’s infrastructure for a clean energy future

guest column

Houston, often dubbed the “Energy Capital of the World,” is at a pivotal moment in its history. Known for its vast oil and gas reserves, the city is now embracing a new role as a leader in the clean energy transition. This shift is not just about adopting new technologies but also about creatively repurposing existing infrastructure to support sustainable energy solutions.

Houston’s offshore oil wells, many of which are old or abandoned, present a significant opportunity for carbon capture. By repurposing these wells, we can sequester carbon dioxide, reducing greenhouse gas emissions and mitigating climate change. This approach not only utilizes existing infrastructure but also provides a cost-effective solution for carbon management. According to the Greater Houston Partnership, initiatives like these are crucial as Houston aims to lower its climate-changing greenhouse gas emissions. Exxon estimates that just their proposed CCS hub could capture and store 50 million metric tons of CO2 annually by 2030 and 100 million metric tons by 2040.

The proximity of abandoned offshore platforms to the coast makes them ideal candidates for renewable energy substations. These platforms can be transformed into hubs for wind, solar or tidal energy, facilitating the integration of renewable energy into the grid. This repurposing not only maximizes the use of existing structures but also minimizes environmental disruption.

Decommissioned pipelines, which are already in place, offer a ready-made solution for routing renewable energy cables. By using these existing rights of way, Houston can avoid disturbing additional seafloor and reduce the environmental impact of new cable installations. This strategy ensures a smoother transition to renewable energy infrastructure. The U.S. Energy Information Administration notes that Texas, including Houston, leads the nation in wind-generated electricity, highlighting the potential for further renewable energy development.

Onshore oil and gas facilities in Houston also hold potential for clean energy repurposing. Wells that were drilled but never used for oil or gas can be adapted for geological thermal energy storage. This process involves storing excess renewable energy in the form of heat, which can be retrieved when needed, providing a reliable and sustainable energy source. This innovative use of existing wells aligns with Houston’s broader energy transition strategy, which aims to leverage the city’s industrial expertise for a low-carbon future.

Once the land has been remediated, old and abandoned oil fields can be converted into solar farms. This transformation not only provides a new use for previously contaminated land but also contributes to the generation of clean, renewable energy. Solar farms on these sites can help meet Houston’s energy needs while supporting environmental restoration. The Environmental Protection Agency in recent years recognized Houston as the top city in the U.S. for green energy usage, with annual green power usage topping 1 billion kilowatt-hours in 2021.

Houston’s journey towards a clean energy future is a testament to the power of innovation and adaptability. By repurposing existing infrastructure, we can create a sustainable energy landscape that honors the city’s industrial past while paving the way for a greener tomorrow. These strategies highlight the potential for Houston to lead in the clean energy transition, setting an example for cities worldwide.

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Tershara Mathews is the national offshore wind lead at WSP.

This article originally ran on EnergyCapital.


Where to work: These 2024 Houston Innovation Awards finalists are hiring

growing biz

About a third of this year's startup finalists for the Houston Innovation Awards are hiring — from contract positions all the way up to senior-level roles.

The finalists, announced last week, range from the medical to energy to AI-related startups and will be celebrated next month on Thursday, November 14, at the Houston Innovation Awards at TMC Helix Park. Over 50 finalists will be recognized for their achievements across 13 categories, which includes the 2024 Trailblazer Legacy Awards that were announced earlier this month.

Click here to secure your tickets to see which growing startups win.

Let's take a look at where you could land a job at one of Houston's top startups.

Double-digit growth

When submitting their applications for the 2024 Houston Innovation Awards, every startup was asked if it was hiring. Four Houston startups replied that they are growing their teams rapidly.

Houston e-commerce startup Cart.com, one of the city's few $1 billion-plus “unicorns," reported that it is hiring approximately 50 new employees. The company, which focuses on commerce and logistics software development, secured $105 million in debt refinancing from investment manager BlackRock this summer following a $25 million series C extension round that brought Cart.com’s Series C total to $85 million. It currently has about 1,500 employees and 4 offices in three companies since it was founded in 2020, according to its website.

Houston energy tech company Enovate Ai (previously known as Enovate Upstream) reported that it is hiring 10-plus positions. The company, with 35 current employees, helps automate business and operational processes for decarbonization and energy optimization. Its CEO and founder, Camilo Mejia, sat down for an interview with InnovationMap in 2020. Click here to read the Q&A.

Square Robot is hiring about 10 new Houston employees and 15 total between Houston and other markets, according to its application. The advanced robotics company was founded in Boston in 2016 and opened its Houston office in August 2019. It develops submersible robots for the energy industry, specifically for storage tank inspections and eliminating the need for humans to enter dangerous and toxic environments. Last year it reported to be hiring 10 to 30 employees as well, ahead of the 2023 Houston Innovators Award. It currently has 25 Houston employees and about 50 nationally.

InnoVent Renewables LLC is also hiring 15 new employees to be based in Mexico. The company launched last year with its proprietary continuous pyrolysis technology that can convert waste tires, plastics, and biomass into fuels and chemicals. The company scaled up in 2022 and has operations in Pune, India, and Monterrey, Mexico, with plans for aggressive growth across North America and Latin America. It has 20 employees in Mexico and one in Houston currently.

Senior roles

Geothermal energy startup Sage Geosystems reported that it is looking to fill two senior roles in the company. It also said it anticipates further staff growth after its first commercial energy storage facility is commissioned at the end of the year in the San Antonio metro area. The company also recently expanded its partnership with the United States Department of Defense's Defense Innovation Unit and announced this month that it was selected to conduct geothermal project development initiatives at Naval Air Station in Corpus Christi. It has 12 full-time employees, according to its application.

Steady growth

Other companies reported that they are hiring a handful of new workers, which for some will increase headcount by about 50 percent to 100 percent.

Allterum Therapeutics reported that it is adding six employees to its current team of 13. The biopharmaceutical company that is under the Fannin Partners portfolio of med tech companies was awarded a $12 million product development grant from the Cancer Prevention and Research Institute of Texas this spring.

Dauntless XR will add between five and eight employees, according to its application. It currently has four employees. The augmented reality software company, originally founded as Future Sight AR in 2018, recently secured a NASA contract for space weather technology after rebranding and pivoting. The company's CEO, Lori-Lee Elliott, recently sat down with the Houston Innovators Podcast. Click here to hear the interview.

Syzygy Plasmonics is hiring four positions to add to its team of 120. The company was named to Fast Company's energy innovation list earlier this year.

Venus Aerospace is adding five to 10 key hires to its team of 72. Andrew Duggleby founded the company with his wife and CEO Sassie in 2020, before relocating to the Houston Spaceport in 2021. Last year, Venus raised a $20 million series A round, and it successfully ran the first long-duration engine test of their Rotating Detonation Rocket Engine in partnership with the Defense Advanced Research Projects Agency, or DARPA, earlier this year.

​Seeking selectively

Other finalists are adding to their teams with a handful of new hires of contract gigs.

​Future roles

Other finalists reported that they are currently not hiring, but had plans to in the near future.

NanoTech Materials Inc., which recently moved to a new facility, is not currently. Hiring but said it plans with new funding during its series B.

Renewable energy startup CLS Wind is not hiring at this time but reported that it plans to when the company closes funding in late 2024.

Houston-area researchers score $1.5M grant to develop storm response tech platform

fresh funding

Researchers from Rice University have secured a $1.5 million grant from the National Science Foundation to continue their work on improving safety and resiliency of coastal communities plagued by flooding and hazardous weather.

The Rice team of engineers and collaborators includes Jamie Padgett, Ben Hu, and Avantika Gori along with David Retchless at Texas A&M University at Galveston. The researchers are working in collaboration with the Severe Storm Prediction, Education and Evacuation from Disasters (SSPEED) Center and the Ken Kennedy Institute at Rice and A&M-Galveston’s Institute for a Disaster Resilient Texas.

Together, the team is developing and hopes to deploy “Open-Source Situational Awareness Framework for Equitable Multi-Hazard Impact Sensing using Responsible AI,” or OpenSafe.AI, a new platform that utilizes AI, data, and hazard and resilience models "to provide timely, reliable and equitable insights to emergency response organizations and communities before, during and after tropical cyclones and coastal storm events," reads a news release from Rice.

“Our goal with this project is to enable communities to better prepare for and navigate severe weather by providing better estimates of what is actually happening or might happen within the next hours or days,” Padgett, Rice’s Stanley C. Moore Professor in Engineering and chair of the Department of Civil and Environmental Engineering, says in the release. “OpenSafe.AI will take into account multiple hazards such as high-speed winds, storm surge and compound flooding and forecast their potential impact on the built environment such as transportation infrastructure performance or hazardous material spills triggered by severe storms.”

OpenSafe.AI platform will be developed to support decision makers before, during, and after a storm.

“By combining cutting-edge AI with a deep understanding of the needs of emergency responders, we aim to provide accurate, real-time information that will enable better decision-making in the face of disasters,” adds Hu, associate professor of computer science at Rice.

In the long term, OpenSafe.AI hopes to explore how the system can be applied to and scaled in other regions in need of equitable resilience to climate-driven hazards.

“Our goal is not only to develop a powerful tool for emergency response agencies along the coast but to ensure that all communities ⎯ especially the ones most vulnerable to storm-induced damage ⎯ can rely on this technology to better respond to and recover from the devastating effects of coastal storms,” adds Gori, assistant professor of civil and environmental engineering at Rice.

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This article originally ran on EnergyCapital.