Houston was deemed a top startup city, but the Bayou City has a gap to other Texas cities that it can work on narrowing. Photo via Getty Images

A new ranking signals great promise for the growth of Houston’s startup network.

Houston ranks among the world’s top 50 startup cities on a new list from PitchBook, a provider of data and research about capital markets. In fact, Houston comes in at No. 50 in the ranking. But if you dig deeper into the data, Houston comes out on top in one key category.

The city earns a growth score of 63.8 out of 100 — the highest growth score of any U.S. city and the seventh highest growth score in the world. In the growth bucket, Houston sits between between Paris (64.4) and Washington, D.C. (61.7).

The PitchBook growth score reflects short-term, midterm, and long-term growth momentum for activity surrounding venture capital deals, exits, and fundraising for the past six years.

PitchBook’s highest growth score (86.5) goes to Hefei, a Chinese manufacturing hub for electric vehicles, solar panels, liquid crystal displays, home appliances, and Lenovo computers.

The overall ranking is based on a scoring system that relies on proprietary PitchBook data about private companies. The system’s growth and development scores are based on data related to deals, exits, fundraising and other factors.

Houston earns a development score of 34.1 out of 100, which puts it in 50th place globally in that regard. This score measures the size and maturity of a city’s startup network.

Topping the overall list is San Francisco, followed by New York City and Beijing. Elsewhere in Texas, Austin appears at No. 16 and Dallas at No. 36.

The ranking “helps founders, operators, and investors assess locations when deciding where to expand or invest,” says PitchBook.

“Network effects matter in venture capital: Investors get more than half of their deals through referrals, according to research led by Harvard professor Paul Gompers,” PitchBook goes on to say. “So it stands to reason that dealmakers should seek these networks out when deciding where to do business.”

Choosing the right city in which to launch your startup can make or break your company. Miguel Tovar/University of Houston

Houston-founded startups — are you in the right city for growth?

Houston Voices

Choosing the best city for your startup can mean the difference between success and closing up shop prematurely. It's important to think outside your home city for a startup launch because your home city may not have the ecosystem set up for your particular startup.

If you give in to your emotions; staying in your hometown because it's, well, your hometown, you risk preventing your company from launching in a city more conducive to its growth.

Here are three keys to making sure you choose the right city for your startup.

A city's ecosystem

Few things are more valuable to a new company than a web of like-minded companies, investors, social groups and connections. You want a city that uses its resources to grow and maintain its startups. Whether it be accelerators or pitching events or entrepreneur conferences, the city you choose needs to be active in the startup community. Establishing your startup in a city with a weak ecosystem will halt the growth of your company because it'll be that much harder to boost your company without a city's support.

A city's social network

A city with a robust social circle of like-minded entrepreneurs is a city that is doing something right for startups. First of all, if the city is rich in like-minded entrepreneurs, then that means they are living there. So there has to be a reason for that: the city is startup-friendly. Second, a city with a strong social sphere of startups means you have more opportunities to make connections and network. You can meet with other business owners to discuss issues important to your companies and even learn new things from each other. What's more is you have a chance to work with other companies to help each other grow. The city of New Orleans has Krewe de Nieux, for example. This social group is a resource for over forty technology startups in the city.

A chance to give back

Opportunities to give back. The best city for your startup will have plenty of opportunities to give back. For example, giving high school students real-life work experience to expand their knowledge and prepare them for a career in the field. A city with a plethora of opportunities like charities, youth groups, internships and career and business organizations allows startups to barter: we will give you experience and you can help us get work done. You help each other grow. In doing so, you blossom the city's startup community as a whole.

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This article originally appeared on the University of Houston's The Big Idea.

Rene Cantu is the writer and editor at UH Division of Research.

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TMC launches new biotech partnership with Republic of Korea

international collaboration

Houston's Texas Medical Center has launched its new TMC Republic of Korea BioBridge.

The new partnership brings together the TMC with the Osong Medical Innovation Foundation, or KBIOHealth. The Biobridge aims to support the commercialization of Korean biotech and life science startups in the U.S., foster clinical research, and boost collaboration in the public, private and academic sectors.

Through the partnership, TMC will also develop a Global Innovators Launch Pad to foster U.S. market entry for international health care companies. Founders will be selected to participate in the 10-week program at the TMC Innovation Factory in Houston.

“Gene and cell therapies are driving biotech innovation, opening possibilities for treating diseases once thought untreatable," William McKeon, president and CEO of the Texas Medical Center, said in a news release. "Expanding biomanufacturing capacity is essential to delivering the next wave of these therapies, and partnerships with leading innovators will strengthen our efforts in Houston and internationally.”

McKeon officially signed the TMC Korea BioBridge Memorandum of Understanding with Myoung Su Lee, chairman of KBIOHealth, in South Korea in October.

"This collaboration marks a significant milestone for Korea’s biohealth ecosystem, creating a powerful bridge between Osong and Houston," Lee added in the release. "By combining KBIOHealth’s strength in research infrastructure and Korea’s biotech talent with TMC’s global network and accelerator platform, we aim to accelerate innovation and bring transformative solutions to patients worldwide.”

This is the seventh international strategic partnership for the TMC. It launched its first BioBridge with the Health Informatics Society of Australia in 2016. It launched its TMC Japan BioBridge, focused on advancing cancer treatments, last year. It also has BioBridge partnerships with the Netherlands, Ireland, Denmark and the United Kingdom.