Statewide investor and accelerator announces $50,000 Houston startup competition

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Capital Factory is calling for Houston startup pitch competition applications. Photo via Getty Images

It's game on for Houston startups looking to win some investment dollars. Texas-based Capital Factory has announced a pitch competition specifically for Houston founders.

Capital Factory is accepting applications now through April 26 for the competition that will take place on May 21 as a part of Houston Exponential's second annual Houston Tech Rodeo, which is is being held May 17 to 23 this year. The week-long collection of events will be held in a hybrid capacity with both in-person and online events.

Five Houston startup finalists will be selected to pitch for the $50,000 SAFE or Convertible Note investment prize, access to the Capital Factory Mentor network, entry into Capital Factory's portfolio, and more.

Any tech or consumer packaged goods startup is eligible to apply, according to a blog post from Capital Factory, and applications are available online.

Capital Factory was recently identified as the most active Houston startup investor, according to a recent report by the Greater Houston Partnership. Between 2017 and 2020, the organization invested in 29 deals at Houston-based companies.

In January of 2020, Capital Factory merged with Station Houston, effecting an increased presence in Houston. In an interview early last year, Capital Factory Founder and CEO Josh Baer says he has 40 Houston companies in the organization's portfolio and he had plans to double that by the end of 2020.

Ahead of the pitch competition and of Tech Rodeo, Houston Exponential is calling for event submissions to be a part of the week of programing. To submit an idea, click here to fill out the form by the March 31st deadline.

Check out this a video from last year's Tech Rodeo. Note: InnovationMap is a media partner for Tech Rodeo.

Houston Tech Rodeo 2020 - Official Videoyoutu.be

SXSW is back for 2021 — and applications are open for the startup pitch competition. Photo by Marie Ketring via sxsw.org

SXSW releases details on 2021 digital festival with special discount passes

see you next year

On March 6, just days before the 2020 SXSW festival was scheduled to begin, local officials issued an emergency order, effectively banning large-scale events in Austin as the novel coronavirus began spreading across the U.S. As a result, SXSW canceled its flagship 10-day festival for the first time ever.

In retrospect, the decision likely saved lives and helped curb the spread of COVID-19, but SXSW's corporate fallout was fast and brutal. Within days, SXSW laid off 30 percent of its Austin-based workforce, and many were left wondering if the festival would ever return.

Finally, a bright spot of news in a dark time: SXSW is back. Yes, it will look different than years past, but beginning Tuesday, November 10, registration is open for SXSW Online, taking place March 16-20, 2021.

"This year has been one like none of us have faced. At SXSW, the impact has been profound and has involved substantial changes in how we work, so it means a lot for us to have the chance to plan a 2021 digital event where we can share experiences and exchange ideas at this crucial time," says SXSW co-founder and CEO Roland Swenson in a release.

Since its founding in 1987, SXSW has grown from a little Texas music festival to an internationally renowned festival that attracts the brightest minds in technology, film, music, and comedy. The 2021 digital version will capture much of that spirit, with signature keynote addresses, conference sessions, music showcases, comedy sets, film screenings, and other "unexpected discoveries."

Badges are on sale beginning today, and are priced at $149 for a limited time. By March 2021, that rate will go up to $399. Student and group discounts are also available. Digital passes grant access to the following:

SXSW Keynotes and Featured Speakers
Mentor sessions and workshops
SXSW Film Festival screenings, events, and exclusive premieres
SXSW Music Festival showcases and events
SXSW Comedy Festival content
Online exhibitions
Networking opportunities

SXSW's startup pitch competition will return in 2021 too. Applications are open online — early bird applications for $29 will be accepted until November 24, and regularly priced submissions are accepted up to January 8 for $59.

A lineup isn't yet available — SXSW usually announces details in the two months leading up to the festival — but community voting on SXSW session proposals is currently underway through November 20. Peruse the more than 1,500 panels here, and vote for the ones you want to attend next year.

"It's a new day for America and for the world," Swenson adds. "We have the opportunity to face challenges that affect us all, and we're honored to bring you the conversations that will renew your hope in tomorrow."

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This article originally ran on CultureMap.

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Greentown Houston announces plans for wet lab, calls for feedback from members

seeing green

Greentown Houston has announced it's building a new wet lab facility — but first, they need some help from the community.

Greentown Labs, which is dual located at their headquarters in Somerville, Massachusetts, and in the Ion District in Houston, has announced that they are building out a wet lab in their Midtown space.

"We have heard from several startups as well as corporate partners in the ecosystem that are looking for wet lab space," says Lara Cottingham, vice president of strategy, policy, and climate impact at Greentown Labs. "Greentown has experience running wet labs from our location in Somerville. We're excited to be able to offer wet lab space to climatetech startups as an additional amenity to the Ion District.

Although Greentown's Boston-area location has wet lab space, Cottingham says the organization is not interested in copying and pasting that same facility. Greentown wants to provide the tools that the Houston ecosystem needs, and that requires getting feedback from its current and potential members.

"We want to announce to the community that this is something we're going to build — but we still need a lot of feedback and input from startups so we can learn what exactly they need or want to see from the wet lab," Cottingham tells InnovationMap. "No two wet labs are the same."

Right now, there aren't any details available about timeline or specifics of the new facility. Greentown is prioritizing getting feedback from its members and having conversations with potential sponsors and corporate partners.

"Corporate partners are a big part of the ecosystem and the community at Greentown. They can be so many things to our startups — mentors, customers, investors," Cottingham says. "And in this space, they can help us sponsor and financially support the wet lab. We're still fundraising — we have some partners that have committed to funding, but we're still looking for more funding."

In addition to monetary contribution, Cottingham says they are looking for other options as well, from partnerships with equipment providers, hazardous materials management, and more.

Startups that need wet lab space are encouraged to fill out the online form, which will be open through the summer, and potential corporate partners can express their interest online as well.

Greentown Houston opened its doors in 2021 and has since grown to house more than 75 energy and climatetech startups, as well as several accelerators, thanks to support from dozens of corporate partners.

Recently acquired Houston hospitality tech company continues to expand following fresh funding

tech growth

Houston-based HungerRush, which is a point-of-sale system that includes payment-processing, digital ordering, customer engagement, and delivery management, continues to spread its impact to businesses big and small.

A New York private equity firm, Corsair Capital, saw the potential for the cloud-based POS software and purchased a majority stake in HungerRush last summer. In 2022, HungerRush was on target to reach $100 million in recurring revenue according to The Deal.

HungerRush aims to serve an industry that according to the tech company, 80 percent think technology is the way to go to assist restaurants with labor shortages and other barriers. HungerRush acquired artificial intelligence text ordering app OrderAI, ordering and marketing company 9Fold LLC and Menufy.com over the past two years to grow its reach.

In the first quarter, the company introduced a comprehensive all-in-one POS system bundle designed to meet the needs of independent operators (IOs), with the overall goal of providing a tech stack to transform the experiences of both restaurant staff and customers. Their partnership with Menufy, which helps IOs drive both growth and profitability through an online website and mobile app ordering experience and currently serves over 15,000 restaurants across the US market, has helped to deliver the transformed IO experience to pizza restaurants and our offerings have quickly expanded to serve Vietnamese and Mexican restaurants as well.

One of the businesses seeing the benefits of platforms like HungerRush is Little Pop’s Pizzeria, which is a Naperville, Illinois-based pizza spot that uses the HungerRush to communicate to help the small business keep up with the large demands of the Chicagoland suburbs.The app’s help has led to substantial business growth.

“Thanks to having 5,000 loyalty program customers stored in HungerRush, we were able to quickly communicate the new curbside pickup and no contact delivery options,” says HungerRush user Mike Nelson of Little Pop’s Pizzeria. “Getting the word out through email and Facebook has increased our business by 75 percent.”

HungerRush continues to flourish in a crowded marketspace, which Chief Revenue Officer Olivier Thierry attributes to the platform’s accessibility to the audience and variety of features.

“While speaking to small business restaurant owners, we continued to hear the unique challenges they faced around having to navigate multiple delivery app interfaces, labor scheduling solutions, and other tools – resulting in many ending the month under their goal quotas, “ Thierry says. “Our tech tools arm our IOs to be able to manage omnichannel ordering, inventory, loyalty programs, and labor scheduling - but most importantly, support them where they need it the most to be successful in today’s digital world.”

Expert: Houston has potential to be a major hub for life sciences — if it addresses these concerns

guest column

Once upon a time in Houston, a promising startup, let’s call it BioMatrix, set out to revolutionize the world of biomaterials. Their groundbreaking product held immense potential, but the company faced the harsh reality of a lack of funding, resources, and talent in their local life sciences sector.

As they watched well-funded competitors in established hubs like Boston and Silicon Valley flourish, the passionate team at BioMatrix persevered, determined to overcome these challenges, and make their mark in the rapidly evolving world of MedTech and life sciences. But would they ultimately move to a richer life science hub?

Over the years, Houston has emerged as a life sciences hub, fueled by the world's largest medical center, Texas Medical Center, and an expanding network of research institutions, startups, and investors. However, despite all its potential, the city still lags other innovation hubs and isn’t included in many of the lists for top life science ecosystems. The challenges are many-fold, but some primary challenges are associated with lack of capital, trouble with talent acquisition, and weak collaboration.

Despite an uptick in venture capital funding, Houston's life sciences sector still trails the likes of Silicon Valley and Boston. Programs like CPRIT help keep companies within Texas, while Houston's unique advantages, such as lower living costs and the TMC's presence, can attract investments, but ultimately, to secure necessary capital, stakeholders must cultivate relationships with investors, government agencies, and other funding sources to infuse more money into the Houston ecosystem. And, when individuals try to do this, the rest of the ecosystem must be supportive.

Talent retention and attraction pose another challenge, as Houston competes with well-funded life science hubs offering abundant research institutions and funding opportunities. While Houston boasts numerous educational institutions producing skilled life sciences graduates, many curricula primarily prepare students for academic rather than industry careers, creating a skills and knowledge gap.

Having a lot of experience in academia doesn’t often translate well into the industry, as is demonstrated by many startup founders who struggle to understand the various stakeholder requirements in bringing a life science product to market.

To bridge this, educational institutions should incorporate more industry-oriented courses and training programs, like Rice University’s GMI Program, that emphasize practical skills and real-world applications. Collaborating with local companies for internships, co-op placements, and hands-on experiences can expose students to industry practices and foster valuable connections.

For any life science company, navigating the intricate regulatory landscape is also a challenge, as missteps can be disastrous. However, it’s even more of a challenge when you lack the fundamentals knowledge of what is required and the skills to effectively engage with industry experts in the space.

To address this, Houston must provide more opportunities for companies to learn about regulatory complexities from experts. Workshops, accelerators, or dedicated graduate and undergraduate courses focusing on regulatory compliance and best practices can facilitate knowledge and experience exchange between regulatory experts and innovators.

The initial inception of M1 MedTech was the result of a personal experience with a company who didn’t understand the fundamentals for regulatory interactions and didn’t know how to appropriately engage with consultants, resulting in time and money wasted.

Enhancing collaboration among Houston's life science stakeholders — including academia, research institutions, healthcare providers, subject matter experts, innovators, and investors — is fundamental for growth. A robust and lively professional network can stimulate innovation and help emerging companies access essential resources.

To this end, Houston should organize more industry-specific events, workshops, and conferences, connecting key life science players and showcasing the city's commitment to innovation. These events can also offer networking opportunities with industry leaders, attracting and retaining top talent. We’ve seen some of this with the Texas Life Science Forum and now with the Ion's events, but we could afford to host a lot more.

Houston's life sciences sector holds immense growth potential, but addressing funding, talent recruitment, regulatory navigation, and collaboration challenges is needed for continued success. By tackling these issues and leveraging its unique strengths, Houston can establish itself as a significant player in the global life sciences arenas. If we wait too long, we won’t be able to truly establish the Third Coast because another player will come into the mix, and we’ll lose companies like BioMatrix to their golden shores.