Erik Ibarra's latest venture is to give agency to residents in the neighborhood he grew up in. Photo courtesy

Innovation isn't always tinkering with tech or programming software, although serial entrepreneur Erik Ibarra knows that world well. Sometimes it's about rethinking how a community improves and develops without doing the residents a disservice.

That's why Ibarra started Magnolia Fund, a mission-driven investment fund dedicated to enriching the East End community and preserving the neighborhood's culture and history. Ibarra, who has lived in the area the majority of his life, says on the Houston Innovators Podcast, that he's looking to turn residents into investors.

"Our investors from the neighborhood, today they walk around and look at their house and say, 'I own that,' and that's great," Ibarra says. "In the future, our investors should be able to say that, and then point to a building and say, 'I own a portion of that building too. And I helped that small business over there.'"

Ibarra explains that he's seen the East End area evolve a lot, and he wants to create a way to make sure residents are a part of that evolution and aren't being left behind in that process.

"Over the years, I've felt like there's so much development going on. But, the people from the neighborhood are very often just passive — they don't get a chance to benefit from or think about how they could participate in these new developments," Ibarra says. "The neighborhood is very close to my heart, and, about a year ago, I realized I wanted to do something about this."

The limited partners of the Magnolia Fund will contribute as investors, and then Ibarra and his team will identify a worthy development to take control of. As he explains, the vision for the property is "La Sala," a living room for the community, with an open area for communing, a kitchen incubator for food entrepreneurs, and an outdoor patio and stage for music and events.

While this is his first foray into the investor side of the equation, Ibarra has been an entrepreneur in Houston since the early 2000s. He's been an active mentor to startup founders, and has seen the ecosystem develop as he's started and grown his businesses.

He's currently the founder and CEO of ORDRS, a digital health platform for optimized lab testing founded in 2018. The company's B2B platform enables health care providers to better manage lab testing, and Ibarra says ORDRS saw a lot of growth during the pandemic. Something he's passionate about with this venture is the ability to provide better access and information about lab testing to patients.

"As a company we strive for transparency in health care," Ibarra says. "If we could provide instant access to a menu of tests for our customers, ... then hopefully our customers can pass those savings on to those customers. Access to testing is important. Access to the transparency in pricing is equally important."

Ibarra shares more about ORDRS, his role as a mentor, and his vision for the fund on the podcast. Listen to the interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.


Words of wisdom from a founder who's done this all before. And then again. And again. Photo via Getty Images

4 lessons learned from this Houston-based serial entrepreneur

guest column

A true test to determine if you are an entrepreneur is knowing if you can recognize your failures. From the outside, we often think of every business leader as having a resume of success stories. You see CEOs in magazines, on television, and in the news, but what you don’t always see is their often-endless list of ideas and decisions that simply didn’t work. Those failures may include a startup that didn’t launch or a key decision that went sideways. Either way, these missteps are often there if you listen to their stories or look hard enough.

I’m not immune to making mistakes. As a serial entrepreneur and having started, led, and mentored various successful companies, I have made some mistakes and have been lucky enough to learn from them. Below is a list of key takeaways I’ve compiled from years of learning.

1. Know what kind of entrepreneur you are.

Before you even get to the service or product that you want to create, learn a little bit about who you are as a leader. Check out a BOSI assessment online to help you determine if you are a Builder, Opportunist, Specialist, or Innovator. Knowing and utilizing your strengths as well as looking for help with your weaknesses will take you far. This also will make a big difference if you are searching for a co-founder. When I started Pinot’s Palette, my co-founder and I both were strong Builders. Without understanding this ahead of time, we ended up wasting time and money overbuilding features that didn’t need to be perfected pre-launch. Looking back, we could have benefited from adding an Opportunist to our team early on and focusing our time on our strengths.

2. You pay for experience….one way or another.

I can’t take full credit for this lesson. My mentor, Dr. Al Napier, shared this sentiment with me years ago. The concept is that you will either pay an in-house expert or consultant early on or you will pay for the mistakes you make with scar tissue. Sometimes, those mistakes can be detrimental. Of course, there’s a time and place to spend money and you don’t want to overspend early, but you need to balance bootstrapping with deploying capital to prevent a game-ending error.

3. Truly understand your vision and how to implement it. 

Staying focused isn’t always easy. You have an idea, but how do you get from step 1 to success? It’s easy to get off track and go down the wrong path – a critical error! As Lori Clements taught me, utilizing EOS (Entrepreneurial Operating System) to organize your vision and stay disciplined will ultimately help you become a better leader. I started working with an EOS coach back in my Pinot’s Palette days and it was a game-changer for how we solved problems. Now, I recommend it to every budding entrepreneur.

4. Build your support network early.

Having a support system in every aspect of life is important. In business, having the right people to lean on and run ideas by can be vital. For each business that I’ve started, there have been emotional and mental hardships to work through. You have your business “baby” and often employees leaning on you to make the right decisions. You can find a professional network through your alumni groups or just seek out other entrepreneurs also going through a similar phase in their business.

Ultimately, you need to be mentally prepared, knowing there will be ups and downs in your business. There is no way to prevent all errors but hopefully turning the mistakes into lessons is what defines leaders.

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Craig Ceccanti is a serial entrepreneur and has co-founded Houston-based Rivalry Technologies and Pinot's Palette. He is the founder, president, and CEO of T-Minus Solutions, a software company.

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Texas plugs in among states at highest risk for summer power outages in 2025

hot, hot, hot

Warning: Houston could be in for an especially uncomfortable summer.

A new study from solar energy company Wolf River Electric puts Texas at No. 2 among the states most at risk for power outages this summer. Michigan tops the list.

Wolf River Electric analyzed the number of large-scale outages that left more than 5,000 utility customers, including homes, stores and schools, without summertime electricity from 2019 to 2023. During that period, Texas experienced 7,164 summertime power outages.

Despite Michigan being hit with more summertime outages, Texas led the list of states with the most hours of summertime power outages — an annual average of 35,440. That works out to 1,477 days. “This means power cuts in Texas tend to last longer, making summer especially tough for residents and businesses,” the study says.

The Electric Reliability Council of Texas (ERCOT), which operates the electric grid serving 90 percent of the state, predicts its system will set a monthly record for peak demand this August — 85,759 megawatts. That would exceed the current record of 85,508 megawatts, dating back to August 2023.

In 2025, natural gas will account for 37.7 percent of ERCOT’s summertime power-generating capacity, followed by wind (22.9 percent) and solar (19 percent), according to an ERCOT fact sheet.

This year, ERCOT expects four months to surpass peak demand of 80,000 megawatts:

  • June 2025 — 82,243 megawatts
  • July 2025 — 84,103 megawatts
  • August 2025 — 85,759 megawatts
  • September 2025 — 80,773 megawatts

One megawatt is enough power to serve about 250 residential customers amid peak demand, according to ERCOT. Using that figure, the projected peak of 85,759 megawatts in August would supply enough power to serve more than 21.4 million residential customers in Texas.

Data centers, artificial intelligence and population growth are driving up power demand in Texas, straining the ERCOT grid. In January, ERCOT laid out a nearly $33 billion plan to boost power transmission capabilities in its service area.

Houston ranks among top 5 cities for corporate HQ relocations in new report

h-town HQ

The Houston area already holds the title as the country’s third biggest metro hub for Fortune 500 headquarters, behind the New York City and Chicago areas. Now, Houston can tout another HQ accolade: It’s in a fourth-place tie with the Phoenix area for the most corporate headquarters relocations from 2018 to 2024.

During that period, the Houston and Phoenix areas each attracted 31 corporate headquarters, according to new research from commercial real estate services company CBRE. CBRE’s list encompasses public announcements from companies across various sizes and industries about relocating their corporate headquarters within the U.S.

Of the markets included in CBRE’s study, Dallas ranked first for corporate relocations (100) from 2018 to 2024. It’s followed by Austin (81), Nashville (35), Houston and Phoenix (31 each), and Denver (23).

According to CBRE, reasons cited by companies for moving their headquarters include:

  • Access to lower taxes
  • Availability of tax incentives
  • Proximity to key markets
  • Ability to support hybrid work

“Corporations now view headquarters locations as strategic assets, allowing for adaptability and faster reaction to market changes,” said CBRE.

Among the high-profile companies that moved their headquarters to the Houston area from 2018 to 2024 are:

  • Chevron
  • ExxonMobil
  • Hewlett-Packard Enterprise
  • Murphy Oil

Many companies that have shifted their headquarters to the Houston area, such as Chevron, are in the energy sector.

“Chevron’s decision to relocate its headquarters underscores the compelling advantages that position Houston as the prime destination for leading energy companies today and for the future,” Steve Kean, president and CEO of the Greater Houston Partnership, said in 2024. “With deep roots in our region, Chevron is a key player in establishing Houston as a global energy leader. This move will further enhance those efforts.”

According to CBRE, California (particularly the San Francisco Bay and Los Angeles areas) lost the most corporate HQs in 2024, with 17 companies announcing relocations—12 of them to Texas. Also last year, Texas gained nearly half of all state-to-state relocations.

In March, Site Selection magazine awarded Texas its 2024 Governor’s Cup, resulting in 13 consecutive wins for the state with the most corporate relocations and expansions.

In a news release promoting the latest Governor’s Cup victory, Gov. Greg Abbott hailed Texas as “the headquarters of headquarters.”

“Texas partners with the businesses that come to our great state to grow,” Abbott said. “When businesses succeed, Texas succeeds.”

CBRE explained that the trend of corporate HQ relocations reflects the desire of companies to seek new environments to support their goals and workforce needs.

“Ultimately, companies are seeking to establish themselves in locations with potential for long-term success and profitability,” CBRE said.

SpaceX test rocket explodes in Texas, but no injuries reported

SpaceX Update

A SpaceX rocket being tested in Texas exploded Wednesday night, sending a dramatic fireball high into the sky.

The company said the Starship “experienced a major anomaly” at about 11 pm while on the test stand preparing for the 10th flight test at Starbase, SpaceX’s launch site at the southern tip of Texas.

“A safety clear area around the site was maintained throughout the operation and all personnel are safe and accounted for,” SpaceX said in a statement on the social platform X.

CEO Elon Musk ’s SpaceX said there were no hazards to nearby communities. It asked people not to try to approach the site.

The company said it is working with local officials to respond to the explosion.

The explosion comes on the heels of an out-of-control Starship test flight in late May, which tumbled out of control. The FAA demanded an investigation into the accident.