TMCx receives national award for unique startup accelerator program

x marks the spot

TMCx was nationally recognized by Seed Accelerator Rankings Project. Courtesy of TMCx

The Texas Medical Center has once again received national acclaim — this time, for its innovation.

Seed Accelerator Rankings Project selected TMCx for a "Silver" distinction in its 2018 awards. SARP evaluated accelerators' success and selected 25 honorees in four categories — Platinum Plus, Platinum, Gold, and Silver. The distinction is aimed to help startups navigate accelerators and find the ones of quality.

SARP objectively measures the impact of these accelerator programs, says Erik Halvorsen, director of the TMC Innovation Institute. There simply isn't non-biased information about accelerators out there. Most startups are forced to rely on marketing materials from the programs.

"One of the things I say often is, 'If you see one accelerator, you've seen one accelerator,' meaning they are all different," Halvorsen says. "There are so many out there, and it can be confusing for startups who think they are all the same."

Now in its fifth year, SARP collected sensitive information, such as fundraising and valuations, and evaluated each accelerator to select the top 25.

The TMCx accelerator program has two cohorts a year, alternating between digital health and medical device focuses. Currently, TMCx has 23 medical device companies participating in the accelerator. Halvorsen says what sets TMCx apart is its focus on medicine, but also the fact that the accelerator doesn't take equity of its companies. Other programs require anywhere from 3 to 7 percent equity in the company in exchange for participation.

"I think this is a major reason we've been able to attract companies that are more advanced — still startups, just further down the path. Those are the kinds of companies who would never consider an accelerator program that asks them to give up equity."

This is the first year TMCx has made it on to the SARP listing, but Halvorsen says it won't be the last.

"I love the fact that there's still a couple levels above where we're ranked, so we definitely have something to shoot for as we grow and improve our program," he says. "For us, we're kind of competing with ourselves to be as good as we possibly can be."

TMCx's fall cohort participants showcase their work in a final presentation called Demo Day, which is on November 14.

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Houston space tech company snags $9.5M contract, sets launch date for lunar mission

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Business at Houston-based space exploration company Intuitive Machines is taking off on two fronts.

First, Intuitive Machines has landed a nearly $9.5 million Air Force contract to develop technology for NASA’s Gateway project, the first space station that will orbit the moon. Specifically, the technology will support a high-powered nuclear fission system that will supply electricity for satellites, bypassing the need for power from solar, battery, or fuel-cell sources.

“As space exploration ventures become more ambitious and diverse, the need for efficient and reliable power sources in space is paramount,” Pete McGrath, vice president of business development at Intuitive Machines, says in a news release. “Developing the ability to expand power sources beyond solar, which requires heavy battery storage, could remove the burden of constantly worrying about a spacecraft’s arrays relative to the sun, and potentially deliver long-term stability for satellites that would otherwise lose power over time.”

Second, Intuitive Machines has set January window for the launch of its IM-1 lunar mission in conjunction with private aerospace company SpaceX. The liftoff is targeted for a multiday window that opens January 12, 2024.

“There are inherent challenges of lunar missions; schedule changes and mission adjustments are a natural consequence of pioneering lunar exploration,” Steve Altemus, co-founder, president, and CEO of Intuitive Machines, says in a news release. “Receiving a launch window and the required approvals to fly is a remarkable achievement, and the schedule adjustment is a small price to pay for making history.”

The IM-1 mission will be the company’s first attempted lunar landing as part of NASA’s commercial payload initiative.

Intuitive Machines went public earlier this year via SPAC. Co-founder Tim Crain shared a bit of the origin story of the company on a recent episode of the Houston Innovators Podcast.


Houston sustainable chemicals unicorn to build Midwestern biomanufacturing facility

making moves

Solugen has scored a partnership with a global company to build a biomanufacturing facility adjacent to an existing corn complex in Marshall, Minnesota.

Solugen, a Houston company that's designed a process that converts plant-derived substances into essential materials, has announced its newest strategic partnership with sustainable solutions company ADM (NYSE:ADM). The partnership includes plans for Solugen to build a 500,000-square-foot biomanufacturing facility next to an existing ADM facility in the Midwest. The two companies will collaborate on producing biomaterials to replace fossil fuel-based products.

“The strategic partnership with ADM will allow Solugen to bring our chemienzymatic process to a commercial scale and meet existing customer demand for our high-performance, cost-competitive, sustainable products,” Gaurab Chakrabarti, co-founder and CEO of Solugen, says in a news release. “As one of the few scaled-up and de-risked biomanufacturing assets in the country, Solugen’s Bioforge platform is helping bolster domestic capabilities and supply chains that are critical in ensuring the U.S. reaches its ambitious climate targets.”

The company plans to begin on-site construction early next year, with plans to startup in the first half of 2025. The project should create at least 40 permanent jobs and 100 temporary construction positions.

“Sustainability is one of the enduring global trends powering ADM’s growth and underpinning the strategic evolution of our Carbohydrate Solutions business,” Chris Cuddy, president of ADM’s Carbohydrate Solutions business, says in the release. “ADM is one of the largest dextrose producers in the world, and this strategic partnership will allow us to further diversify our product stream as we continue to support plant-based solutions spanning sustainable packaging, pharma, plant health, construction, fermentation, and home and personal care.”

Founded in 2016 by Chakrabarti and Sean Hunt, Solugen's carbon-negative molecule factory, named the Bioforge, uses its chemienzymatic process in converting plant-sourced substances into essential materials that can be used instead of fossil fuels. The manufacturing process is carbon neutral, and Solugen has raised over $600 million from investors that believe in the technology's potential.

“The initial phase of the project will significantly increase Solugen’s manufacturing capacity, which is critical for commercializing our existing line of molecules and kicks off plans for a multi-phase large-scale U.S. Bioforge buildout,” Hunt, CTO of Solugen, says in the release. “The increase in capacity will also free up our Houston operation for research and development efforts into additional molecules and market applications.”

The project should create at least 40 permanent jobs and 100 temporary construction positions.

"As a community with a strong foundation of agriculture and innovation, we look forward to welcoming Solugen to Marshall. This industry-leading facility will serve as a powerful economic driver for the city, creating new jobs and diversifying our industry,” City of Marshall Mayor Bob Byrnes says in the statement. "We are thankful for ADM’s longstanding commitment and impact to Marshall, which has paved the way for this remarkable partnership and continues to further economic growth to our region."

It's the second major company partnership announcement Solugen has made this month, with a new arrangement with Sasol being secured last week.

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This article originally ran on EnergyCapital.

TMC delivers new building, can't miss events, and more trending Houston innovation news

top stories

Editor's note:Another week has come and gone, and it's time to round up the top headlines from the past few days. Trending Houston tech and startup articles on InnovationMap included profiles on Houston Innovation Awards finalists, TMC Helix Park's first building opening, and more.

Texas Medical Center opens first building in massive Helix Park project

Mayor Sylvester Turner, TMC CEO Bill McKeon, Governor Greg Abbott, and others gave their remarks at the TMC3 Collaborative Building opening. Photo by Natalie Harms

For nearly a decade, the Texas Medical Center and its partners have been working on the plans for Helix Park, a 37-acre campus expansion of TMC. As of this week, the first building has opened its doors to the public.

The TMC3 Collaborative Building officially opened today to a crowd of media, public officials, and health care executives. The institutional agnostic, 250,000-square-foot building will anchor Helix Park and house research initiatives from the four founding partners: Texas Medical Center, The University of Texas MD Anderson Cancer Center, Texas A&M University Health Science Center, and The University of Texas Health Science Center at Houston.

“Today, we lay the cornerstone of a new campus fully dedicated to streamlining the commercialization of life-changing innovations in medicine and technologies,” William McKeon, president and CEO of TMC, says at the event. “We are incredibly excited to both welcome our founding institutions and industry partners to the Collaborative Building and to invite the community to experience the Helix Park campus and its beautiful parks with a series of special events in the months ahead." Read more.

Meet the 4 corporations best supporting Houston's innovation ecosystem

The Corporate of the Year category for the Houston Innovation Awards has four finalists — each playing a role in Houston's innovation ecosystem across energy, tech, and health care innovation. Photos courtesy

What corporations are most supporting Houston's startup ecosystem? The Houston Innovation Awards sought to find that out with a new category for the 2023 event.

The Corporate of the Year category has four finalists — each playing a role in Houston's innovation ecosystem across energy, tech, and health care innovation. Learn about each of these finalists in the interviews below. Read more.

Secure your Houston Innovation Awards tickets.

Read more of the editorial series:

10+ can't-miss Houston business and innovation events for November

Check out this curated list of innovation events in Houston for November. Photo via Getty Images

From networking meetups to the 2023 Houston Innovation Award ceremony, November is chock-full of happenings for Houston innovators.

Here's a roundup of events you won't want want to miss out on, so mark your calendars and register accordingly.Read more.

Rice University taps 11 Houston business leaders for new entrepreneurship council

Eleven business leaders were selected for a new entrepreneurship-focused council for Rice University. Photo courtesy of Rice University

Rice University has named 11 successful business leaders with ties Houston to its inaugural council focused on entrepreneurship.

Frank Liu, a Rice alumnus and founder of the Rice University Liu Idea Lab for Innovation and Entrepreneurship, or Lilie, recruited the entrepreneurs to the council, and each has agreed to donate time and money to the university’s entrepreneurship programs, according to the university.

Members of the council, known as the Lilie’s Leadership Council or LLC, individuals have experience in a variety of fields, from the industrial and automotive sectors to local government and public radio. Read more.

Houston software co. secures $39M in financing, launches latest product upgrade

Graylog, a Houston SaaS company, has new fuel to scale and develop its product. Photo via Getty Images

A Houston software-as-a-service company has secured $39 million in financing and announced its latest upgrade to its platform.

Graylog, which has created an innovative platform for cybersecurity and IT operations, raised equity funding with participation from new investor Silver Lake Waterman and existing investors Piper Sandler Merchant Banking and Harbert Growth Partners leading the round.

“The growth we are seeing globally is a response to our team’s focus on innovation, a superior user experience, low total cost of ownership, and strong execution from our Go-To-Market and Customer Success teams,” Andy Grolnick, CEO of Graylog, says in a news release. “We expect this momentum to continue as Graylog expands its reach and raises its profile in the security market.” Read more.


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