Houston SPAC announces merger with Beaumont-based tech company in deal valued at $100M

speaking of spacs

This Houston-based SPAC has announced the tech company it plans to merge with. Photo courtesy of Gow Media

A Houston SPAC, or special purpose acquisition company, has announced the company it plans to merge with in the new year.

Beaumont-based Infrared Cameras Holdings Inc., a provider of thermal imaging platforms, and Houston-based SportsMap Tech Acquisition Corp. (NASDAQ: SMAP), a publicly-traded SPAC with $117 million held in trust, announced their agreement for ICI to IPO via SPAC.

Originally announced in the fall of last year, the blank-check company is led by David Gow, CEO and chairman. Gow is also chairman and CEO of Gow Media, which owns digital media outlets SportsMap, CultureMap, and InnovationMap, as well as the SportsMap Radio Network, ESPN 97.5 and 92.5.

The deal will close in the first half of 2023, according to a news release, and the combined company will be renamed Infrared Cameras Holdings Inc. and will be listed on NASDAQ under a new ticker symbol.

“ICI is extremely excited to partner with David Gow and SportsMap as we continue to deliver our innovative software and hardware solutions," says Gary Strahan, founder and CEO of ICI, in the release. "We believe our software and sensor technology can change the way companies across industries perform predictive maintenance to ensure reliability, environmental integrity, and safety through AI and machine learning.”

Strahan will continue to serve as CEO of the combined company, and Gow will become chairman of the board. The transaction values the combined company at a pre-money equity valuation of $100 million, according to the release, and existing ICI shareholders will roll 100 percent of their equity into the combined company as part of the transaction.

“We believe ICI is poised for strong growth," Gow says in the release. "The company has a strong value proposition, detecting the overheating of equipment in industrial settings. ICI also has assembled a strong management team to execute on the opportunity. We are delighted to combine our SPAC with ICI.”

Founded in 1995, ICI provides infrared and imaging technology — as well as service, training, and equipment repairs — to various businesses and individuals across industries.

The Cannon's new sportstech hub is just one step in putting a national spotlight on Houston as a city for vibrant sports innovation. Graphic courtesy of The Cannon

Newly opened hub to put Houston on the map for sports innovation

sportstech

Silicon Valley emerged as a consumer tech capital, and Atlanta has carved out a niche for fintech — but as sports innovation continues to be driven by startups and new technology, where should the innovators set up shop?

"There isn't really a sports tech town, and we felt there's an opportunity to stick a stake in the ground and claim Houston as the sports tech capital of the world," says Lawson Gow, founder of The Cannon.

The Cannon in collaboration with Braun Enterprises and Gow Media opened Houston's first dedicated space to sports innovation. (Gow Media is the parent company of InnovationMap.) The new two-story space includes 23 offices and a 1,500-square-foot open space in 53 West, a Galleria-area office building recently renovated by Braun. The hub is adjacent to Gow Media's office alongside Gow Broadcasting LLC and the SportsMap Radio Network, which includes local sports station ESPN 97.5 as well as national syndicated content.

The idea for a sports-focused tech hub has been on the minds of The Cannon team since the early days of The Cannon, where sportstech activity started occurring naturally.

"The sportstech startup scene in Houston caught us by surprise at the very early stages of the Cannon," Gow tells InnovationMap. "We were created to transform Houston's innovation community and part of that was thinking about what things we could win at. Sportstech, for a lot of reasons, seemed really logical to us."

The Cannon's new space is in 53 West, a Galleria-area office building recently renovated by Braun Enterprises. Graphic courtesy of The Cannon

Over the years, The Cannon has grown its network of sportstech startups and developed its programming within the industry. Now, these efforts have a home in The Cannon Uptown - Sports + Media.

"Houston has never been able to attract tech entrepreneurs for any reason, and sports tech can be that reason," Gow says. "Having a sports innovation hub in Houston is only one of a dozen grand initiatives that needs to happen."

Some of those other initiatives include growing sports tech density, introducing new sports-focused accelerators, more events, funding — including venture capital and angel investment — and interest from professional teams.

Another recent sportstech opportunity that's come about in Houston is the SportsMap Tech Acquisition Corp. (NASDAQ: SMAPU) going public as a blank-check company last month at $115 million. The SPAC is run by David Gow, Lawson Gow's father and CEO of Gow Media, and plans to find a sports tech business to acquire, specifically in one of four categories within the industry: fan engagement, health and wellness, esports, or fantasy/gambling.

"With the IPO complete, we now begin the search for a company to acquire in the sports tech industry, which we define as the realm where technology is transforming sports," says David Gow. "We have not been able to talk with target companies yet, but have been doing our homework to develop a list. We also plan to tap into the extensive relationships of our board."

The company is backed by an all-star team making up the board, including Oliver Luck, Reid Ryan, David Graf, and Steve Webster.

A new SPAC, SportsMap Tech Acquisition Corp., went public this week. Photo courtesy of Gow Media

Houston entrepreneur launches $100M SPAC, plans to target sports tech

IPO-ed

A new SPAC — a special purpose acquisition company — has officially started trading this week, targeting $100 million in investment and looking for an innovative sports tech company to back.

SportsMap Tech Acquisition Corp. (NASDAQ: SMAPU) announced its initial public offering of 10,000,000 units at a price to the public of $10 per unit, and trading began on October 19. The blank-check company is led by David Gow, CEO and chairman. Gow is also chairman and CEO of Gow Media, which owns digital media outlets SportsMap, CultureMap, AutomotiveMap, and InnovationMap, as well as the SportsMap Radio Network, ESPN 97.5 and 92.5.

The SPAC, which has potential for oversubscription, plans to find a sports tech business to acquire, specifically in one of four categories within the industry: fan engagement, health and wellness, esports, or fantasy/gambling.

"With the IPO complete, we now begin the search for a company to acquire in the sports tech industry, which we define as the realm where technology is transforming sports," says Gow. "We have not been able to talk with target companies yet, but have been doing our homework to develop a list. We also plan to tap into the extensive relationships of our board."

The company is backed by an all-star team making up the board, including Oliver Luck, Reid Ryan, David Graf, and Steve Webster.

"We have assembled a really strong board," Gow says. "In addition to his great tenure at the Astros, Reid has founded banks, served as president of a minor league team and has been investing in sports tech through his family office. Oliver has held positions across multiples sports at both the professional and collegiate levels. David Graf is the founder and CEO of a very successful sports tech company, HUDL. And Steve Webster has had an extraordinary track record in business, as one of the savviest PE and public company investors in Houston.

"The group has a great complement of financial, operations, and transactions experience," he continues.

Leadership for the company also includes David Gow's son, Lawson Gow, who founded the coworking and entrepreneurship hub, The Cannon. He will serve as chief strategy officer for SportsMap Tech Acquisition Corp. Jacob Swain will be the CFO of the SPAC.

David Gow (right) is the chairman and CEO of the new SPAC, and Reid Ryan will serve on the board. Photo by Michele Lee Sparks/Archer Sparks

Calling all sports tech companies. A Galleria-area sports tech hub is opening this summer. Photo via braunenterprises.com

Exclusive: Houston coworking company to open sports tech-focused hub

go team

It's game time for a Houston-based coworking company that's working on opening a sports innovation hub this summer.

The Cannon is working on opening new hub in 53 West, a Galleria-area office building recently renovated by Braun Enterprises. The project is in partnership with Braun and Gow Media, InnovationMap's parent company, and will be co-located with the media business that runs Gow Broadcasting LLC and the SportsMap Radio Network, which includes local sports station ESPN 97.5 as well as national syndicated content.

The Cannon's founder Lawson Gow tells InnovationMap that Gow Media — founded by Lawson's father, David Gow — and Braun Enterprises were opportunistic partners for the organization.

"We've always been optimistically looking for strategic partners that we can co-locate with or team up with to create a hyper focused, niche community," Lawson Gow says. "We've spent a lot of time thinking about what that can be."

Expected to open midsummer, the new two-story space will have 23 offices and a 1,500-square-foot open space that can be used for events. All existing Cannon members will have access to the space, and potential tenants can expect a similar pricing model to The Cannon's other three Houston-area locations.

Houston makes sense for sports tech, which Gow defines as encompassing four categories of innovation — fan engagement, activity and performance, fantasy and gambling, and esports. Houston has the money, the big four sports teams, a big fan base, and corporate interest, he explains.

"Sports tech is a thing we can win at. There's no global hub for sports tech — so Houston can do that," Gow says. "We've always had that in our heads as a direction we want the city to head down, so it just makes it so opportunistic to create a space for that kind of innovation at work for the city."

53 West has been undergoing renovations recently. Photo via braunenterprises.com

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Axiom Space tops $525M in oversubscribed round, announces Swiss subsidiary

funding boost

Axiom Space tacked on an additional $175 million to a previously announced capital raise, bringing the oversubscribed round to a total of more than $525 million.

Axiom shared in February that it had secured $350 million in a financing round led by Type One Ventures and Qatar Investment Authority. In the latest release from the company, Axiom reports that Japan-based MUFG Bank Ltd. joined the round as a new investor, in addition to continued participation from existing backers.

The funding will go toward developing the company's commercial space station, known as Axiom Station, and the production of its Axiom Extravehicular Mobility Unit (AxEMU) under its NASA spacesuit contract.

“Investor interest in this round outpaced what we set out to raise, which speaks to the moment we’re in,” Jonathan Cirtain, CEO and president of Axiom Space, said in the news release. “Our partners see what is possible in low-Earth orbit, and they see who is positioned to lead it.”

Axiom announced last month that it planned to open a Japanese subsidiary July 1. Earlier this week, it also shared plans to establish Axiom Space Switzerland, a wholly owned subsidiary based in Lucerne that is also expected to begin operations this summer.

The Switzerland subsidiary aims to establish Axiom's presence in Europe and help it partner with the European Space Agency and other space organizations and companies on the continent.

“Europe is a founding leader in the creation of the commercial space economy, and Switzerland is uniquely positioned to convene the government agencies, research institutions, and industrial entities that will shape its next decade,” Cirtain added in a separate release. “Axiom Space Switzerland facilitates the scaling of development and deployment of the infrastructure that will succeed the International Space Station.”

Texas cashes in among 10 best U.S. state economies in 2026 report

State Economics

A new study gauging the success or decline in economic performance in every state has revealed Texas' economy remains stable in 2026 after it dropped out of the top five to No. 8 last year.

Texas boasts the No. 8 best state economy in the U.S. this year, according to WalletHub's annual "Best & Worst State Economies" report. The personal finance website's analysts ranked all 50 states and the District of Columbia across 28 relevant metrics to measure each state's economic activity and health status, and its "innovation potential."

Notably, Texas leads the nation for the most exports per capita in the U.S. in a five-way tie with Louisiana, Kentucky, North Dakota, and Indiana. Across the study's three main categories, Texas ranked highly for its economic activity (No. 7) and economic health (No. 11), and the state's "innovation potential" rank is the 24th best in the nation.

This is how WalletHub ranked Texas' economic performance, where No. 1 is considered the best and No. 25 is considered average:
  • No. 6 – Change in non-farm payrolls
  • No. 8 – Change in GDP
  • No. 8 – Startup activity
  • No. 11 – Annual median household income
  • No. 18 – Government surplus/deficit per capita
  • No. 21 – Percentage of jobs in high-tech industries
  • No. 30 – Unemployment rate
WalletHub previously ranked Texas one of the top three states to start a business in 2026, with Houston earning its own entrepreneurial acclaim in separate rankings of the best big cities for new businesses and for starting a career.

"U.S. economic growth depends heavily on the performance of individual states, and some contribute more than others," the report's author wrote. "For example, California, Texas, New York and Florida have economies so large that if they were countries, they would rank in the top 20 in the world."

The five states with the worst state economies in 2026 are Rhode Island (No. 47), Maine (No. 48), Louisana (No. 49), Kentucky (No. 50), and West Virginia (No. 51).

The top 10 best state economies for 2026 are:

  • No. 1 – Massachusetts
  • No. 2 – Washington
  • No. 3 – Utah
  • No. 4 – California
  • No. 5 – Delaware
  • No. 6 – North Carolina
  • No. 7 – New York
  • No. 8 – Texas
  • No. 9 – Colorado
  • No. 10 – Florida

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This article originally appeared on CultureMap.com.

Houston lab explores how AI bots can help the elderly

AI for aging

The University of Houston’s Empathetic Lifespan AI & Robotics for Aging (ELARA) Lab is currently conducting research into how AI bots may be able to help the elderly live more social and independent lives through several ongoing initiatives.

The lab officially launched last month as part of the Gerald D. Hines College of Architecture & Design under the leadership of Assistant Professor Chorong Park. Part of the lab’s mission is tackling ongoing problems with aging, such as dealing with disabilities and social isolation. Researchers’ current work is focused on designing a new AI companion bot specifically tailored to the needs of older people.

“We need to take all the needs of older adults seriously,” Park said in a news release. “They won't use the robot if they don't feel at ease or if they feel they are being constantly watched.”

The field testing of new AI bots in this population hopes to overcome several traditional obstacles in technology use among the elderly. A study by Park shows that many older people have a fear of overt surveillance when using advanced AI. There is also ageism to consider. Most new technologies are designed with younger and employed buyers in mind, not retirees who may need help remembering daily tasks or accessing important information.

“The more older adults are excluded from technology development, the worse those technology gaps will become,” Park said. “AI and the majority of technologies are created for younger people, so my research method integrates older adults directly into the design process.”

ELARA recently collaborated with the Mamie George Community Center in Richmond, Texas, to track seniors’ response to desktop AI bots like Emo and Cupboo. Researchers also had participants use air-dry modeling clay to create their ideal robotic companion.

While the eventual AI bot may be able to help the elderly feel less isolated and more supported, there are concerns to consider. A study published in the Asian Journal of Psychology charted the development of delusional thinking in a 72-year-old woman who became convinced the empathic-response bot was in love with her. The rise of “AI psychosis” has the potential to exacerbate mental health problems, particularly in socially isolated people, which a quarter of Americans over the age of 65 are.

ELARA’s research is focused on creating “pet-like” AI models with enhanced trust cues. If it can overcome the dangers of socially isolated people relying on AI for companionship, it could be a big step forward for independent aging.
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