Houston companies take home big prizes from a Texas A&M startup competition

Big winners

Spark Biomedical took home first place at the Texas A&M New Ventures Competition. Courtesy of Texas A&M

Earlier this month, 16 startups competed in the 2019 Texas A&M New Ventures Competition for more than $350,000 in cash and in-kind services — the largest pool of prizes in the contest's history.

Houston had a huge presence at TNVC this year. Several Houston startups competed in the technology- and science-focused pitch competition, and the top three prizes were claimed by Houstonians. Of the 13 health and life science companies that were named semifinalists, seven were related to the TMC Innovation Institute.

Here are the Houston companies that walked away from the TNVC with cash and/or prizes.

Spark Biomedical

Friendswood-based medical device company Spark Biomedical took home the top prize at TNVC, which came with a $50,000 check. Spark's technology uses a noninvasive neurostimulation treatment for opioid addiction recovery.

"I'm very humbled and grateful," says Daniel Powell, CEO of Spark, in a release. "This award means a lot because Texas A&M is my alma mater. Being back here is fantastic, and this win is a testament to the work we're doing and our dedication to making a difference with this product."

Spark also was recognized with the Southwest Pediatric Device Prize and the Aggie Angel Network Investment Prize. Recently, Spark announced a partnership with another Houston startup, Galen Data.

SurfEllent

Photo via surfellent.com

Coming in at No. 2 overall and receiving a $35,000 prize was Houston-based advanced coating company, SurfEllent. The company, which is based out of the University of Houston's Technology Park, has designed an anti-icing technology that can be used in any type of situation from de-icing cars to aeronautical applications.

SurfEllent was also recently recognized as one of the top three innovators at NASA's 2017 iTech forum, out of 130 entries across the US.

The company also walked away with the TEEX Product Development Center Prize.

Intelligent Implants

Photo by Cody Duty/TMC

Intelligent Implants called Houston home during the 2018 TMCx medical device cohort and still has a presence in town. The company, which created a, implantable wireless device that stimulates bone growth using electrical stimulation, claimed third prize and $25,000.

Last fall, following its success at TMCx, Intelligent Implants was named the "Most Promising Life Science Company" at the 2018 Texas Life Science Forum hosted by the Rice Alliance and BioHouston.

VenoStent

Photo via venostent.com

Another 2018 TMCx medical device cohort member competed at the TNVC and left with fresh funds. VenoStent took fifth place and a $10,000 prize. VenoStent has a device that allows a successful stent implementation on the first try, called the SelfWrap. The device is made from a shape-memory polymer that uses body heat to mold the stent into the vein-artery junction.

VenoStent, which has its headquarters in Nashville, Tennessee, also won the Ramey & Schwaller IP Legal Services Prize.

PolyVascular

Courtesy of TMC Innovation

Houston-based PolyVascular walked away a big winner of multiple prizes. The company, a member of TMCx's 2017 medical device cohort, creates polymeric transcatheter valves for children with congenital heart disease.

PolyVascular won the TNVC pitch competition, which came with a $5,000 prize. The startup also walked away with the Biotex Investment Prize, the Amerra Visualization Services Prize, and the GOOSE Society Investment Prize.

Ictero Medical

Ictero Medical, which operates out of JLABs at TMC, took home several prizes, including the Thomas | Horstemeyer IP Legal Services Prize, the TMC Accelerator Admission Prize, and the Engineering Vice Chancellor Innovation Prize — a new award that came with a $15,000 prize.

Ictero created the CholeSafe System — a minimally invasive device that treats gallstone disease patients in a procedure with "only minimal local anesthesia to defunctionalize the gallbladder without having to remove it," according to the website.

Sun Co. Tracking

Sun Co. Tracking was the other of the two startups to receive the new Engineering Vice Chancellor's Innovation Prize and its own $15,000 prize. The Houston-based company is developing shape memory alloy actuators for solar panels.

"This unique prize is intended to help the awardees access the world-class engineering capabilities at Texas A&M to obtain technical assistance toward solving their most challenging technical problems in product design, manufacturing or testing," says Dr. Balakrishna Haridas, TEES director for technology commercialization and entrepreneurship, in a release.

"These collaborations between the prize winners and Texas A&M Engineering will generate technical data to support on Small Business Innovation Research/grant proposal funding or private capital investments to the company."

GaitIQ

Photo via LinkedIn

GaitIQ is based in San Antonio, but is automatically accepted into TMCx's tenth cohort if they'd like, since the company won the TMC Investment Prize. The company, which created a primary care app that uses artificial intelligence and cloud-based technology, also won sixth place overall and $5,000.

GaitIQ also won the Ark Pharmacies, Inc. Regional Prize, the Hollinden Marketing and Strategists Services Prize, and the Schwegman Lundberg and Woessner IP Legal Services Prize.

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London AI startup selects Houston for first U.S. office after $20M raise

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London-based AI firm Applied Computing has announced a $20 million Series A round and a new office in Houston.

The new Bayou City office is Applied Computing’s first in the United States and part of its North American expansion. The company is known for its Orbital AI platform, which is tailored for energy operations.

The funding round was led by Houston-based KBR Inc., with participation from San Francisco-based Databricks Ventures. KBR’s investment was first announced in March.

KBR and Applied Computing have also entered into a multi-year agreement to deliver exclusive AI products for the energy sector. KBR already has integrated Orbital into its INSITE 3.0 platform for energy projects, and is also using the product for ammonia production.

Applied Computing’s Orbital platform combines physics-grounded intelligence with models across chemical engineering, time-series forecasting and language, according to the company. The system analyzes sensor readings and can recognize a facility’s equipment constraints and operator activity. The platform can also allow technicians to run simulations of how a change to a facility could affect the rest of its operations.

According to TechCrunch, Applied Computing will use the $20 million to further explore projects and deployments with the energy sector, hire engineering and research positions, and continue to expand internationally, potentially into the Middle East.

The company is also working on deals with a major U.S. stream operator, TechCrunch reports. And Applied Computing shared on LinkedIn that it plans to announce its first partnership with a major European oil company in the coming weeks.

“Yesterday we showed Orbital live in deployments at our demo day at the Energy Institute in London,” Callum Adamson, CEO and co-founder of Applied Computing, posted on LinkedIn on July 16. “Today, we're announcing the capital to scale it globally as well as the launch of our new offices in Houston and Bangalore. In the weeks following, there will be more announcements on our progress, partnerships and deployments.”

The company opened its Bangalore offices in December.

Texas is no longer America's No. 1 most financially distressed state

Report Rebound

After spending an unfortunate year as the No. 1 state with the most people in financial distress, Texas has slightly recovered. But the Lone Star State isn't out of the woods yet: it's still among the five most financially distressed states in America for 2026.

According to WalletHub's 2026 report, Texas sits in the No. 4 spot this year, while Kansas, Louisiana, and Florida moved up to become the top three states with the most financially distressed residents.

The personal finance website's experts compared all 50 states based on residents' average credit scores, the share of people with "accounts in distress" (meaning an account that's in forbearance or has deferred payments), the one-year change in bankruptcy filings from March 2025, and search interest indexes for "debt" and "loans."

Despite improving in the overall ranking, the study found Texas has had the fourth-biggest spike in bankruptcy filings nationally from March 2025 to March 2026. Texas residents also have the 10th worst average credit scores in the country, according to the findings.

This is how Texas ranked across the study's six key dimensions, where No. 1 means "most distressed:"

  • No. 4 – Change in bankruptcy filings from March 2024 to March 2025 rank
  • No. 5 – Average number of accounts in distress rank
  • No. 8 – "Loans" search interest index rank
  • No. 8 – People with accounts in distress rank
  • No. 12 – Credit score rank
  • No. 13 – “Debt” search interest index rank

It feels like inflation and affordability have been top-of-mind for many Americans over recent years, and uncertainty around the national economy also adds another level of distress. That's especially true for Houston residents, which were dubbed the second most financially distressed people in America earlier in 2026.

"Americans have faced significant financial challenges in recent years, as inflation, shifting unemployment levels, public health emergencies, and natural disasters have made it more difficult for many households to stay on top of their bills," the report said.

The top three states that have the least financially distressed residents are Maine (No. 50), Rhode Island (No. 49), and Hawaii (No. 48).

The top 10 most financially distressed states in America for 2026 are:

  • No. 1 – Kansas
  • No. 2 – Lousiana
  • No. 3 – Florida
  • No. 4 – Texas
  • No. 5 – South Carolina
  • No. 6 – Wyoming
  • No. 7 – Georgia
  • No. 8 – California
  • No. 9 – North Carolina
  • No. 10 – Kentucky
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A version of this article originally appeared on CultureMap.com.

European spacecraft developer expands to Houston with U.S. business, new lab

houston hq

European aerospace manufacturer The Exploration Company has established its first U.S. entity and named Space City as its headquarters.

The company announced earlier this month that it has launched TEC Federal to support U.S. government customers and agencies, and to scale The Exploration Company's engineering operations in the country.

Mark Kirasich serves as president of TEC Federal. Kirasich most recently served as the senior director of human spaceflight at Blue Origin after a nearly 40-year career at NASA.

The Exploration Company is developing the reusable Nyx space vehicle. Nyx is designed to take off from any heavy launcher in the world. It will then dock at space stations, retrieve up to 3,000 kilograms of cargo, splash down and return the cargo to Earth. The company aims to make Nyx fully reusable for up to 10 missions, making it a more affordable and sustainable option for aerospace missions.

The Exploration Company completed a successful drop test of the spacecraft in May in the Mojave Desert. The company says Nyx is slated to perform its first flight demonstration in 2028.

In addition to launching the Houston business, The Exploration Company also opened its new Rapid Innovation Lab near Houston's NASA Johnson Space Center on Space Park Drive.

The Exploration Company opened its Rapid Innovation Lab earlier this month. Photo via LinkedIn

The Rapid Innovation Lab features a full-scale mockup of the future Nyx crew capsule as well as ongoing development and testing of the Nyx cargo capsule, according to the company.

The Exploration Company says the new lab will allow its engineers, designers, and operators to prototype and test crew interfaces. It will also support partnerships with NASA personnel and astronauts.

“Houston gives us direct access to the people and expertise that have built and operated human spaceflight systems for decades. We’re excited to invest and expand around that— engineers, operators, and astronauts working together and moving quickly towards building a crew capsule.” Hélène Huby, founder and CEO of The Exploration Company, said in a blog post.

According to The Houston Chronicle, The Exploration Company has about 30 employees in the Houston area.

The company was founded in 2021 by Huby, a French rocket scientist, and has raised more than $350 million in venture capital. It operates out of Germany, France, Luxembourg, Spain and Italy, with offices in the U.S. and the United Arab Emirates. It is also developing a reusable, high-thrust rocket engine known as Storm.

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