University of Texas launches $10 million seed fund with investment in vaccine storage pioneer

sprouting ideas

The first seed will be planted in Jurata Thin Film, a revolutionary vaccine storage technology. Photo by dszc Getty Images

Planting a seed seems like a quaint activity, but the University of Texas at Austin doesn't do anything small. Its new $10 million UT seed fund is going into incubation soon, thanks to the efforts of Discovery to Impact, the team leading the University's "research commercialization and innovation efforts."

Except for its scale, this project is no different from any other seed investment, which inputs capital into a business in the form of a lump sum, in exchange for a portion of the business. In this case, the recipients are "promising new startups built on university-owned intellectual property," according to a press release. In total, UT Austin estimates that this intellectual property, or research enterprise, totals $800 million, a number it commits to "dramatically expand."

“By investing in these early-stage companies, we will be addressing a crucial gap in the capital market and enabling development of impactful technologies, while encouraging investors to consider opportunities coming out of the university,” said vice president of business strategies and operations Jim Davis in the release.

Discovery to Impact helps launch startups and stays on board through the many growing pains many startups experience, helping to accelerate "new products, services, solutions and cures." This means choosing and collaborating with three or four new companies each year, and when divided, the seed does appear rather small: companies can expect no more than a $250,000 investment.

The first seed will be planted in Jurata Thin Film, in order to grow solutions that streamline vaccine and biologic development and distribution worldwide. As many who followed COVID-19 vaccine news are aware, one major problem in distributing a vaccine is keeping it cold and stable. Jurata, based on the work of UT College of Pharmacy professor Maria Croyle, makes "thin films" (look up this keyword to see how unique Croyle's contribution is) that preserve vaccines for up to three years at room temperature. This is excellent news for communities with fewer resources or more arduous shipping needs.

The company is still relatively young, although not brand-new, having been founded in 2019. Its leadership has more experience; CEO Sheila Mikhail and co-founder Jude Samulski have previously collaborated on Asklepios BioPharmaceutical Inc. (AskBio) and Bamboo Therapeutics Inc.

The UT Seed Fund investment, along with other funding, will help bring about a pilot-scale manufacturing line that can create 1,000 doses of loaded thin films per hour, plus studies to ensure the safety of the formulation under the tongue, inside the cheek, and via intramuscular injection.

“Jurata is very excited to be the first recipient of UT Seed Fund,” said Jurata’s senior director of business development, Megan Livingston. “UT has been extremely supportive of our technology and development, and we look forward to continuing our relationship through this investment.”

A similar seed fund already exists at the University of Texas at Dallas, with larger sums for each business. More information about research at UT Austin is available at utexas.edu.

------

This article originally ran on CultureMap.

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

Property Showcase

With boost from Houston, Texas is the No. 1 state for economic development

governor's cup

Texas is on a 14-year winning streak as the top state for attracting job-creating business location and expansion projects.

Once again, Texas has claimed Site Selection magazine’s Governor’s Cup. This year’s honor recognizes the state with the highest number of economic development projects in 2025. Texas landed more than 1,400 projects last year.

Ron Starner, executive vice president of Site Selection, calls Texas “a dynasty in economic development.”

Among metro areas, Houston lands at No. 2 for the most economic development projects secured last year (590), behind No. 1 Chicago and ahead of No. 3 Dallas-Fort Worth.

In praising Houston as a project magnet, Gov. Greg Abbott cites the November announcement by pharmaceutical giant Lilly that it’s building a $6.5 billion manufacturing plant at Houston’s Generation Park.

“Growth in the Greater Houston region is a great benefit to our state’s economy, a major location for foreign direct investment and key industry sectors like energy, aerospace, advanced manufacturing, and life sciences,” Abbott tells Site Selection. “Houston is also home to one of the largest concentrations of U.S. headquarters for companies from around the world.”

In 2025, Fortune ranked Houston as the U.S. city with the third-highest number of Fortune 500 headquarters (26).

Texas retained the Governor’s Cup by gaining over 1,400 business location and expansion projects last year, representing more than $75 billion in capital investments and producing more than 42,000 new jobs.

Site Selection says Texas’ project count for 2025 handily beat second-place Illinois (680 projects) and third-place Ohio (467 projects). Texas’ number for 2025 represented 18% of all qualifying U.S. projects tracked by Site Selection.

“You can see that we are on a trajectory to ensure our economic diversification is going to inoculate us in good times, as well as bad times, to ensure our economy is still going to grow, still create new jobs, prosperity, and opportunities for Texans going forward,” Abbott says.

Houston e-commerce giant Cart.com raises $180M, surpasses $1B in funding

fresh funding

Editor's note: This article has been updated to clarify information about Cart.com's investors.

Houston-based commerce and logistics platform Cart.com has raised $180 million in growth capital from private equity firm Springcoast Partners, pushing the startup past the $1 billion funding mark since its founding in 2020.

Cart.com says it will use the capital to scale its logistics network, expand AI capabilities and develop workflow automation tools.

“This investment will strengthen our balance sheet and provide us with the flexibility to accelerate our strategic priorities,” Omair Tariq, CEO of Cart.com, said in a news release. “We’ve built a platform that combines commerce software with a scaled logistics network, and we’re just getting started.”

In conjunction with the funding, Springcoast executive-in-residence Russell Klein has been appointed to Cart.com’s board of directors. Before joining Springcoast, he was chief commercial officer at Austin-based Commerce.com (Nasdaq: CMRC). Klein co-led Commerce.com’s IPO, led the company’s mergers-and-acquisitions strategy and played a key role in several funding rounds.

“The team at Cart.com has demonstrated excellence in their ability to scale efficiently while continuing to innovate,” Klein said. “I’m excited to join the board and support the company as it expands its AI-driven capabilities, deepens enterprise relationships, and further strengthens its position as a category-defining commerce and fulfillment platform.”

Before this funding round, Cart.com had raised $872 million in venture capital and reached a valuation of about $1.6 billion, according to CB Insights. With the new funding, the startup has collected over $1 billion in just six years.

This is the income required to be a middle class earner in Houston in 2026

Cashing In

A new study tracking the upper and lower thresholds for middle class households across the nation's largest cities has revealed Houstonians need to make at least a grand more than last year to maintain their middle class status this year.

According to SmartAsset's just-released annual report, "What It Takes to Be Middle Class in America – 2026 Study," Houston households need to make anywhere from $42,907 to $128,722 to qualify as middle class earners this year.

Compared to 2025, Houstonians need to make $1,153 more per year to meet the minimum threshold for a middle class status, whereas the upper bound has stretched $3,448 higher. The median income for a Houston household in 2024 was $64,361, the study added.

SmartAsset's experts used 2024 Census Bureau median household income data for the 100 biggest U.S. cities and all 50 states and determined middle class income ranges by using a variation of Pew Research's definition of a middle class household, stating the salary range is "two-thirds to double the median U.S. salary."

In the report's ranking of the U.S. cities with the highest household incomes needed to maintain a middle class status, Houston ranked No. 80.

In the report's state-by-state comparison, Texas has the 24th highest middle class income range. Overall, Texas households need to make between $53,147 and $159,442 to be labeled "middle class" in 2026. For additional context, the median income for a Texas household in 2024 came out to $79,721.

"Often, the expectations that come with the term 'middle class' include reaching home ownership, raising kids, the comfort of modest emergency funds and retirement savings, and the occasional splurge or vacation," the report said. "And as the median household income varies widely across the U.S. depending on the local job market, housing market, infrastructure and other factors, so does swing the bounds on what constitutes a middle class income in America."

What it takes to be middle class elsewhere around Texas

Two Dallas-Fort Worth suburbs – Frisco and Plano – have some of the highest middle class income ranges in the country for 2026, SmartAsset found.

Frisco households need to make between $96,963 and $290,888 to qualify as middle class this year, which is the third-highest middle class income range nationwide.

Plano's middle class income range is the eighth highest nationally, with households needing to make between $77,267 and $231,802 for the designation.

Salary range needed to be a middle class earner in other Texas cities:

  • No. 28 – Austin: between $60,287 and $180,860
  • No. 40 – Irving: between $56,566 and $169,698
  • No. 44 – Fort Worth: between $55,002 and $165,006
  • No. 57 – Garland: between $50,531 and $151,594
  • No. 60 – Arlington: between $49,592 and $148,77
  • No. 61 – Dallas: between $49,549 and $148,646
  • No. 73 – Corpus Christi: between $44,645 and $133,934
  • No. 77 – San Antonio: between $44,117 and $132,352
  • No. 83 – Lubbock: between $41,573 and $124,720
  • No. 84 – Laredo: between $41,013 and $123,038
  • No. 89 – El Paso: between $39,955 and $119,864
---

This article originally appeared on CultureMap.com.

View All Listings