Houston hospital awards third infusion of grant-funding to local nonprofits

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Houston Methodist has doled out $4.8 million to Houston nonprofits. Photo via TMC.edu

Houston Methodist has awarded $4.8 million to 50 Houston-area nonprofits as part of its Diversity, Equity & Inclusion Grant Program, the hospital announced this month.

The funds go toward "addressing the root causes of health inequities experienced by social, racial and ethnic minorities," according to the hospital. An estimated 51,000 Houstonians are expected to be impacted by these dollars.

Of the nonprofits selected, 24 are healthy neighborhood programs, 16 are educational empowerment programs and 14 are economic programs.

The grant program is broken up into two types of funding: The Social Equity Grant and the DEI Grant. Now in its third year, the program has for the first time selected recipients of the Social Equity Grant that all support economic empowerment.

"We know there is a direct correlation between economic stability and health outcomes," Ryane Jackson, vice president, community benefits at Houston Methodist said in a statement. "Without livable wages or employer backed insurance, access to health care can be limited. If we can help those in underserved communities obtain employment and increase their wages in a short amount of time, then we can provide immediate and meaningful change that can potentially be felt for years to come.”

Capital IDEA Houston is a local nonprofit that’s received the Social Equity Grant. The organization helps low-wage workers find living-wage careers. Capital IDEA plans to use the funds to support Black and Hispanic Women in health care professions and launch a pilot program that will assist women with an associate degree who are interested in pursuing a bachelor’s degree in nursing.

Another recipient, Compudopt, will focus on digital literacy training to low income African American and Hispanics, while Montrose Center will use the funds to support its Seniors Preparing for Rainbow Years program at the Law Harrington Senior Living Center. Other recipients include Avondale House, BakerRipley, Interfaith Caring Ministries, Kids Meals Inc., and the Tejano Center for Community Concerns. Click here to find a full list.

DEI is at the forefront of Houston Methodist's vision for the future of health care. In a recent interview with InnovationMap, Arianne Dowdell, vice president and chief diversity, equity and inclusion officer at Houston Methodist, shared how linked diversity and innovation are to her.

"I think we're in a very interesting time when we think about how health care looks. It's changing drastically and so people have a lot more options for where they choose to get their health care and who their providers are," she tells InnovationMap. "So I think that the thought of the patient comes first is really going to be the key of understanding how do we tackle health equity."

Since launching Houston Methodist's DEI Grant Program has awarded more than $11 million to 83 Houston-area nonprofits. Last year it awarded $4.6 million to 59 organizations. Click here to see who else has been awarded funding through the program.
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This year, 32 nonprofits providing essential services to Houstonians will receive grant funding from Houston Methodist. Photo courtesy of Houston Methodist

Houston hospital system grants $6.8M to community nonprofits

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A Houston-area hospital system has announced the latest recipients of its grant program, benefiting nonprofits that are providing essential services to Houstonians.

Houston Methodist announced this month the 32 local nonprofit organizations receiving more than $6.8 million in community grants as a part of the Community Benefits Grant Program. This year, these nonprofits will give access to health care services to more than 188,000 individuals in underserved communities in the Greater Houston area.

“For three decades, the Houston Methodist Community Benefits Grant Program has helped create pathways to care for some of the most vulnerable in the Greater Houston community who often are struggling to afford basic necessities,” says Ryane Jackson, vice president of community benefits at Houston Methodist, in a news release.

Since the program's inception, it's provided $168 million to 82 local charities.

“Access to high quality health care is one of many issues that our community faces, and this grant helps makes much-needed health care resources affordable and accessible," she continues. "I’m proud that we can continue to partner with local organizations focused on expanding the health and well-being of all Houstonians.”

Houston Methodist announced the full list of this year’s Community Benefits grant awardees online.

Last year, Houston Methodist announced grants to 59 Houston-area nonprofit organizations totalling more than $4.6 million thanks to the Houston Methodist Diversity, Equity & Inclusion Grant Program.

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Houston investor on why 2025 will be the year of exits

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Samantha Lewis will be the first to admit that the past few years have been tough on startups and venture capital investors alike. However, as she explains on the Houston Innovators Podcast, the new year is expected to look very different.

"We're super excited going into 2025," says Lewis, who is a partner at Houston-based VC firm Mercury. "For us, 2024 was a year of laying a lot of groundwork for what we believe is going to be a massive year of startup exits and liquidity for the venture ecosystem. We've been hard at work making sure our companies are prepared for that."

Mercury, in fact, has already gotten a taste, with three of its portfolio companies celebrating exits — all with Houston roots. Fintech platform Brassica was acquired by BitGo in February, and Apparatus, founded as Topl in Houston, was acquired early last year. The third deal has yet to be announced publicly.

And it's just getting started, Lewis says. She explains that all of the companies in Mercury's portfolio that are promising — albeit not break-out, to-be-billion-dollar companies — are going to have opportunities to sell in 2025 and 2026.

"What we've started to do — and I encourage everyone to do this if you're working on a startup — is just start to just engage with strategic buyers, investment bankers, and people you think might be a great fit to buy your company," Lewis says, "because we really think that the next few years will be the best liquidity years we've seen in a really long time. And if you're not ready for it, you're going to miss the boat."

In addition to sharing her advice to get "exit preparedness," Lewis explains some specific tech trends she's keeping an eye on in Mercury's "power theme," which she works on directly. This encompasses fintech, blockchain, web3 and more.

SpaceX loses mega rocket in latest thrilling Starship test flight

Testing

SpaceX launched its Starship rocket on its latest test flight Thursday, but the spacecraft was destroyed following a thrilling booster catch back at the pad.

Elon Musk’s company said Starship broke apart — what it called a “rapid unscheduled disassembly." The spacecraft's six engines appeared to shut down one by one during ascent, with contact lost just 8 1/2 minutes into the flight.

The spacecraft — a new and upgraded model making its debut — was supposed to soar across the Gulf of Mexico from Texas on a near loop around the world similar to previous test flights. SpaceX had packed it with 10 dummy satellites for practice at releasing them.

A minute before the loss, SpaceX used the launch tower's giant mechanical arms to catch the returning booster, a feat achieved only once before. The descending booster hovered over the launch pad before being gripped by the pair of arms dubbed chopsticks.

The thrill of the catch quickly turned into disappointment for not only the company, but the crowds gathered along the southern tip of Texas.

“It was great to see a booster come down, but we are obviously bummed out about [the] ship,” said SpaceX spokesman Dan Huot. “It’s a flight test. It’s an experimental vehicle," he stressed.

The last data received from the spacecraft indicated an altitude of 90 miles and a velocity of 13,245 mph.

Musk said a preliminary analysis suggests leaking fuel may have built up pressure in a cavity above the engine firewall. Fire suppression will be added to the area, with increased venting and double-checking for leaks, he said via X.

The 400-foot rocket had thundered away in late afternoon from Boca Chica Beach near the Mexican border. The late hour ensured a daylight entry halfway around the world in the Indian Ocean. But the shiny retro-looking spacecraft never got nearly that far.

SpaceX had made improvements to the spacecraft for the latest demo and added a fleet of satellite mockups. The test satellites were the same size as SpaceX’s Starlink internet satellites and, like the spacecraft, were meant to be destroyed upon entry.

Musk plans to launch actual Starlinks on Starships before moving on to other satellites and, eventually, crews.

It was the seventh test flight for the world’s biggest and most powerful rocket. NASA has reserved a pair of Starships to land astronauts on the moon later this decade. Musk’s goal is Mars.

Hours earlier in Florida, another billionaire’s rocket company — Jeff Bezos’ Blue Origin — launched the newest supersized rocket, New Glenn. The rocket reached orbit on its first flight, successfully placing an experimental satellite thousands of miles above Earth. But the first-stage booster was destroyed, missing its targeted landing on a floating platform in the Atlantic.

Houston private equity firm beats target on first investment fund

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Houston-based private equity firm Sallyport has raised $160 million for its first investment fund, exceeding the target amount by $10 million.

The Sallyport Partners Fund focuses primarily on investments in founder- and family-owned businesses, corporate carve-outs and startups in various industries.

The firm’s chairman, Doug Foshee, seeded the fund. He and managing partners Kyle Bethancourt and Ryan Howard started the firm in 2023.

“Sallyport Partners Fund was created to utilize the proven processes our team has developed over time to generate value for like-minded investors on a larger and more impactful scale,” Foshee says in a news release.

Investors in the Sallyport fund include entrepreneurs, business executives and influential Texas families. Aside from Foshee, names of the fund’s investors weren’t disclosed.

“We are deeply committed to working hand-in-hand with management teams to drive transformative growth and generate long-term value,” says Bethancourt. “Our operational capabilities are forged from decades of firsthand experience leading, investing in, and building thriving businesses from the ground up. We have a unique appreciation for the management team’s perspective because we’ve been in their shoes.”

Those shoes have covered some pretty impressive ground:

  • Foshee is former chairman, president, and CEO of Houston-based El Paso Corp., which owned and operated a 44,000-mile natural gas pipeline network. In 2012, El Paso merged with Houston-based pipeline company Kinder Morgan in a multibillion-dollar deal.
  • Before Sallyport, Bethancourt was a vice president in the credit division of Blackstone, an investment powerhouse with more than $1 trillion in assets under management. Earlier, he worked at D.E. Shaw & Co., a New York City-based hedge fund with more than $65 billion in assets under management.
  • Before Sallyport, Howard worked at Platform Partners, a Houston-based private equity firm. Earlier, he worked for the natural resources arm of investment banking giant Goldman Sachs.
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