3 Houston innovators make Forbes list of up-and-coming entrepreneurs

next big things

Forbes has identified 1,000 entrepreneurs as rising stars in the business world. And three of them call Houston home. Photos via Forbes

Three Houston entrepreneurs are basking in the national spotlight.

The trio — Vernee Hines, Carolyn Rodz, and Siddhartha Sachdeva — were just named to Forbes' Next 1000 list of the country's up-and-coming entrepreneurs. They're among the 250 standouts who make up the second installment of this year's Next 1000 class.

Forbes says the year-round Next 1000 initiative "showcases the ambitious sole proprietors, self-funded shops, and pre-revenue startups in every region of the country — all with under $10 million in revenue or funding and infinite drive and hustle."

Forbes accepts nominees for Next 1000, and then "top business minds and entrepreneurial superstars" pick those who make the final cut. Among those minds are LinkedIn co-founder Reid Hoffman; baseball legend Alex Rodriguez; Sheryl Sandberg, chief operating officer of Facebook; and Carla Harris, managing director of Morgan Stanley.

"Americans are launching new companies at a historic rate, aided by the accelerated shift in the way we live and work and an influx of technological tools that made it easier for anyone to start their own business from anywhere," Maneet Ahuja, senior editor of Forbes, says in a news release. "The latest class of Next 1000 entrepreneurial heroes offer hope for the future as we emerge from the pandemic on the path towards economic recovery."

Hines, Rodz, and Sachdeva are the initiative's three Houston representatives in the summer 2021 group.

Hines co-founded UpBrainery Technologies with Ghazal Qureshi in 2020. UpBrainery operates a tech ecosystem aimed at disrupting educational and classroom norms through the use of proprietary technology, according to Forbes.

UpBrainery's marketplace provides an AI-driven software platform and research-based, results-driven curriculum to students, parents, teachers, and organizations. So far, UpBrainery has helped more than 5,000 students. Clients include Whataburger, Nasdaq, the Houston Rockets, the Girl Scouts of America, and Girls Inc.

"Because I deeply understand curriculum and the theory of education, I understand the biases marginalized students face every day, and I co-founded UpBrainery with the goal of eliminating historical education biases, leveling the playing field for underrepresented students, and providing a technology solution that reaches even the most disconnected student," Hines says on her company's website.

Rodz co-founded Hello Alice with Elizabeth Gore in 2017 as an accelerator for women-owned businesses. Today, the Hello Alice online platform serves as a one-stop shop for all aspiring entrepreneurs, connecting them with funders, services, and professional networks, Forbes explains. To date, it has raised $8.5 million in funding.

"Hello Alice is what I wish I had when I started my first business 15 years ago," Rodz told the Golden Seeds website in 2020. "After a career in investment banking, I made a long, hard, expensive transition into entrepreneurship. It wasn't until I sold that company that I realized how much I learned."

"When I started a second business, I discovered networks and opportunities I didn't know about the first time, and doors opened up," she added. "With Hello Alice, our goal was to put all entrepreneurs on an equal footing, giving them the knowledge, opportunities, and connections they need to thrive from day one."

Sachdeva founded Innowatts in 2014. The company offers an AI-powered SaaS platform that helps electricity providers operate more efficiently and transition toward sustainable energy, Forbes says. Innowatts has raised nearly $27 million in funding.

"The COVID-19 crisis has brought challenges for the energy sector, but there will always be a need for accurate forecasting and real-time intelligence," Sachdeva says in a recent news release. "Innowatts has flourished by using its groundbreaking AI technologies to help customers build resilience and cope with the unprecedented shifts in power consumption caused by the pandemic."

Houston-based Innowatts closed its Series B funding round — a $18.2 million commitment from the likes of Energy Impact Partners, Shell Ventures, and more. Photo via innowattts.com

Houston AI-enabled retail energy platform receives $18.2M investment

Follow the money

Houston-based Innowatts has closed its Series B funding round lead by Energy Impact Partners. The company, which enables artificial intelligence through its retail energy technology platform, secured a $18.2 million investment. Current funders also include Shell Ventures, Iberdrola, and Energy and Environment Investment (EEI Japan) — which all three supported the company in its Series A — along with new investor Evergy Ventures.

The funds will be used to grow the company's eUtilityTMplatform technology — a B2B cloud-based software tool to help retail energy providers better deliver quality energy services and insights to clients. The eUtilityTM platform already processes meter data from over 21 million customers globally and across 13 regional energy markets, according to the release.

"Competing in today's complex and evolving marketplace requires utility companies use data and intelligence to drive business and customer value," says Siddhartha Sachdeva, founder and CEO of Innowatts, in a release. "Energy Impact Partners, along with its coalition of innovative utility investors, appreciates the role that the eUtilityTM platform can play in creating a smarter, more efficient energy value chain. We're excited to have EIP join us on the next phase of our journey in building the digital utility of the future."

The company is "poised to become a key building block in the software-driven, intelligent grid of the future," says Michael Donnelly, partner and chief risk officer at EIP in the release.

"We invest in companies driving the transformation of the energy sector towards an increasingly decarbonized, digitized, and electrified future – solutions that our utility partners can commercialize at scale and have the greatest impact," Donnelly continues.

Innowatts' $6 million Series A round closed in August 2017. Shell Ventures lead that round.

"Utilities have the opportunity to deliver more value to customers, at lower costs and with greater personalization than ever before, while helping streamline the complex energy marketplace," says Geert van de Wouw, vice president Shell Ventures, in a release. "The predictive customer intelligence and digital solutions provided by Innowatts' eUtilityTM platform is central to executing that vision."

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Houston hospital names leading cancer scientist as new academic head

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Houston Methodist Academic Institute has named cancer clinician and scientist Dr. Jenny Chang as its new executive vice president, president, CEO, and chief academic officer.

Chang was selected following a national search and will succeed Dr. H. Dirk Sostman, who will retire in February after 20 years of leadership. Chang is the director of the Houston Methodist Dr. Mary and Ron Neal Cancer Center and the Emily Herrmann Presidential Distinguished Chair in Cancer Research. She has been with Houston Methodist for 15 years.

Over the last five years, Chang has served as the institute’s chief clinical science officer and is credited with strengthening cancer clinical trials. Her work has focused on therapy-resistant cancer stem cells and their treatment, particularly relating to breast cancer.

Her work has generated more than $35 million in funding for Houston Methodist from organizations like the National Institutes of Health and the National Cancer Institute, according to the health care system. In 2021, Dr. Mary Neal and her husband Ron Neal, whom the cancer center is now named after, donated $25 million to support her and her team’s research on advanced cancer therapy.

In her new role, Chang will work to expand clinical and translational research and education across Houston Methodist in digital health, robotics and bioengineered therapeutics.

“Dr. Chang’s dedication to Houston Methodist is unparalleled,” Dr. Marc L. Boom, Houston Methodist president and CEO, said in a news release. “She is committed to our mission and to helping our patients, and her clinical expertise, research innovation and health care leadership make her the ideal choice for leading our academic mission into an exciting new chapter.”

Chang is a member of the American Association of Cancer Research (AACR) Stand Up to Cancer Scientific Advisory Council. She earned her medical degree from Cambridge University in England and completed fellowship training in medical oncology at the Royal Marsden Hospital/Institute for Cancer Research. She earned her research doctorate from the University of London.

She is also a professor at Weill Cornell Medical School, which is affiliated with the Houston Methodist Academic Institute.

Texas A&M awarded $1.3M federal grant to develop clean energy tech from electronic waste

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Texas A&M University in College Station has received a nearly $1.3 million federal grant for development of clean energy technology.

The university will use the $1,280,553 grant from the U.S. Department of Energy to develop a cost-effective, sustainable method for extracting rare earth elements from electronic waste.

Rare earth elements (REEs) are a set of 17 metallic elements.

“REEs are essential components of more than 200 products, especially high-tech consumer products, such as cellular telephones, computer hard drives, electric and hybrid vehicles, and flat-screen monitors and televisions,” according to the Eos news website.

REEs also are found in defense equipment and technology such as electronic displays, guidance systems, lasers, and radar and sonar systems, says Eos.

The grant awarded to Texas A&M was among $17 million in DOE grants given to 14 projects that seek to accelerate innovation in the critical materials sector. The federal Energy Act of 2020 defines a critical material — such as aluminum, cobalt, copper, lithium, magnesium, nickel, and platinum — as a substance that faces a high risk of supply chain disruption and “serves an essential function” in the energy sector.

“DOE is helping reduce the nation’s dependence on foreign supply chains through innovative solutions that will tap domestic sources of the critical materials needed for next-generation technologies,” says U.S. Energy Secretary Jennifer Granholm. “These investments — part of our industrial strategy — will keep America’s growing manufacturing industry competitive while delivering economic benefits to communities nationwide.”

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This article originally appeared on EnergyCapital.

Biosciences startup becomes Texas' first decacorn after latest funding

A Dallas-based biosciences startup whose backers include millionaire investors from Austin and Dallas has reached decacorn status — a valuation of at least $10 billion — after hauling in a series C funding round of $200 million, the company announced this month. Colossal Biosciences is reportedly the first Texas startup to rise to the decacorn level.

Colossal, which specializes in genetic engineering technology designed to bring back or protect various species, received the $200 million from TWG Global, an investment conglomerate led by billionaire investors Mark Walter and Thomas Tull. Walter is part owner of Major League Baseball’s Los Angeles Dodgers, and Tull is part owner of the NFL’s Pittsburgh Steelers.

Among the projects Colossal is tackling is the resurrection of three extinct animals — the dodo bird, Tasmanian tiger and woolly mammoth — through the use of DNA and genomics.

The latest round of funding values Colossal at $10.2 billion. Since launching in 2021, the startup has raised $435 million in venture capital.

In addition to Walter and Tull, Colossal’s investors include prominent video game developer Richard Garriott of Austin and private equity veteran Victor Vescov of Dallas. The two millionaires are known for their exploits as undersea explorers and tourist astronauts.

Aside from Colossal’s ties to Dallas and Austin, the startup has a Houston connection.

The company teamed up with Baylor College of Medicine researcher Paul Ling to develop a vaccine for elephant endotheliotropic herpesvirus (EEHV), the deadliest disease among young elephants. In partnership with the Houston Zoo, Ling’s lab at the Baylor College of Medicine has set up a research program that focuses on diagnosing and treating EEHV, and on coming up with a vaccine to protect elephants against the disease. Ling and the BCMe are members of the North American EEHV Advisory Group.

Colossal operates research labs Dallas, Boston and Melbourne, Australia.

“Colossal is the leading company working at the intersection of AI, computational biology, and genetic engineering for both de-extinction and species preservation,” Walter, CEO of TWG Globa, said in a news release. “Colossal has assembled a world-class team that has already driven, in a short period of time, significant technology innovations and impact in advancing conservation, which is a core value of TWG Global.”

Well-known genetics researcher George Church, co-founder of Colossal, calls the startup “a revolutionary genetics company making science fiction into science fact.”

“We are creating the technology to build de-extinction science and scale conservation biology,” he added, “particularly for endangered and at-risk species.”

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