Venture Houston brought together key innovators and investors focused on Houston — here's what they said. Photo via Getty Images

Last week, over 2,500 people registered to Venture Houston to talk about startups and venture capital in Houston for two full days.

The two-day conference, which was put on by HXVF, the Houston Angel Network, the Rice Alliance, and Houston Exponential, took place February 4th and 5th and brought together startups, investors, corporations, and anyone who cares to advance the Houston tech ecosystem.

Click here to see what companies won big in the event's startup pitch competition.

Throughout the various panels and keynote addresses, Houston innovation leaders sounded off on what the future of Houston looks like in terms of venture activity. Missed the discussion or just want a refresher on on the highlights? Here are some significant overheard moments from the virtual conference.

“The way I look at it, Houston has an opportunity to really emerge as one of the leading startup cities in the country.”

SteveCase, chairman and CEO of Revolution Ventures and co-founder of AOL.

He makes a reference to the iconic line "Houston, we have a problem" — which now is defined by a time of opportunity. Case adds that his VC fund, Revolution, which has invested in Houston-based GoodFair, is looking for new investments in Houston.

“We were behind. We were slow to start, but in typical Houston fashion, now we are escalating with real momentum."

Amy Chronis, Houston managing partner of Deloitte and 2021 Greater Houston Partnership board chair.

Chronis notes on the fact that VC activity in Houston is up 250 percent since 2016, and in that time the city has focused on diversifying its business. Now, the city touts its active corporate community, global diversity, and more.

"In Houston, companies and talent are looking at ways to change the world," she adds.

“I see there being a significant amount of seed capital taking off.”

StephanieCampbell, managing director of the Houston Angel Network and The Artemis Fund.

Campbell calls out new funds to Houston, like Golden Section Ventures and her own fund, Artemis. She adds that with over $700 million invested in Houston deals last year, the city is in a good place, and she is anticipating more angel activity.

"While this is really exciting progress, there's still a lot of work to be done in terms of seed and early-stage funding," she continues.

“I see there being billion-dollar venture funds here in Houston on the life science front over the next decade.”

John "JR" Reale, managing director of Integr8d Capital.

Reale, who's also the executive in residence at TMC Innovation, says he's seen the growth and potential of the life science industry in Houston.

"You can see the intentionality of the infrastructure that's being built that's going to attract diverse founders and all talent," he says.

“What I really see is the trajectory for Houston has been changing over the last couple years.”

BradBurke, managing director for the Rice Alliance for Technology and Entrepreneurship.

Burke points to three things that have really moved the needle on Houston's progress as an innovative city. The first was the Texas Medical Center establishing its Innovation Institute a few years back, and the next is how Houston's top energy companies are making big moves to support the energy transition. Finally, he says, The Ion, which is set to open this year, is the third reflection point for progress.

“The Houston startup scene is a very special place. It’s a community I actively choose to be a part of, and it activates me every day.”

Rakesh Agrawal, CEO and founder of SnapStream.

“We’ve got a really incredible story to tell.”

SusanDavenport, senior vice president of economic development for the GHP.

Davenport adds that this is exactly what the GHP is doing — making Houston's story known. And she says they have talked to global business leaders and they describe the city as a modern, cosmopolitan, truly global city.

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Rice names inaugural recipients of new grant program that's doling out $360,000

Four Houston research projects are splitting hundreds of thousands of dollars in grant funding from Rice University.

After announcing the One Small Step Grant program in September to support Rice-developed, lab-stage innovations, the university has named its inaugural recipients. After receiving nearly 30 applicants, four research projects were selected to share $360,000 in grant funding.

“Being able to fund near-commercial projects represents a leap forward in our mission of supporting the cutting-edge work of our faculty and students and helping bring those to market,” Adrian Trömel, assistant vice president for strategy and investments, says in a news release. “Feedback from industry and investors show that they’re excited on how the One Small Step grants help derisk these technologies, getting them ready to launch. Watch this space for the next generation of leading deeptech companies.”

The selected projects include:

  • PerisBio, developed by Samira Aglhara Fotovat and Samantha Fleury from Rice Professor Omid Veiseh's Lab, focuses on novel, hydrogel-encapsulated engineered "cell factories" for the minimally invasive treatment of endometriosis. The project received a $100,000 award.
  • Solidec, founded by Ryan Duchanois and Yang Xia from Rice Professor Haotian Wang's Lab, is a room temperature, solid-state direct air capture technology. The project received a $100,000 award.
  • HornetX, led by Rice Professor Aditya Mohite's Lab, aims to produce highly stable green hydrogen using a perovskite-based photoelectrochemical cell with leading efficiency. The project received a $80,000 award.
  • Coflux, developed by Jeremy Daum and Alec Ajnsztajn from the labs of Rice Professors Rafael Verduzco and Pulickel Ajayan, focuses on covalent organic framework-based photocatalysts for instream remediation of PFAS (per- and polyfluoroalkyl substances) from water. The project received a $80,000 award.

The Office of Innovation created an investment advisory committee — made up of entrepreneurs, investors and corporate executives across industries — to select these recipients. The grant program was funded by the Office of Innovation, with support from Breakthrough Energy Fellows for climate and energy projects

“The inaugural winners of the One Small Step Grant represent the innovative spirit and dedication to excellence that defines our students and faculty," Rice Chief Innovation Officer Paul Cherukuri says. "We are proud to support these groundbreaking projects on their journey from lab to market."

Innovative Texas hardtech startup secures award to test in space

ready for liftoff

A Houston-area startup and Greentown Houston member has secured a prestigious space prize.

College Station’s FluxWorks, which develops and commercializes non-contact magnetic gearboxes for use in extreme environments, was one of two startups to receive the Technology in Space Prize, which is funded by Boeing and the Center for the Advancement of Science in Space, or CASIS, manager of the International Space Station National Laboratory. Los Angeles-based Symphony Bio also received the honor.

Through the MassChallenge startup accelerator program, the two companies now get to utilize the research environment available through the ISS National Lab. CASIS and Boeing awarded Symphony Bio and FluxWorks more than $630,000 in total through the contest. Approximately $20 million has been awarded for more than 30 projects, which have already launched to the space station, since the event’s beginning.

"Boeing is excited to partner with CASIS to support the advancement of cutting-edge research using the unique environment of the orbiting laboratory,” says Scott Copeland, director for ISS research integration at Boeing, in a news release. “Enabling research that can help millions diagnosed with cancer and advancing mechanical innovations of non-contact magnetic gear technology will benefit human life in both the harsh environment of space and terrestrial environments.

"There are many smart people out there with great ideas who can leverage the space station to advance innovation, and these two companies serve as an inspiration to them all,” he continues.

FluxWorks, which won the 2023 Rice Business Plan Competition, will use the space station to test performance of a new gear. The magnetic gear will be tested to assess its startup behavior, dynamic operation, vibrational characteristics, and seal and bearing behavior in microgravity. Gearbox's goal is to reduce the mass of motors required in a variety of applications, but the lubricant needed to make them work is not designed for use in extreme environments, like space. Magnetic gears do not require lubricant, which makes them an alternative.

Symphony Bio will use the orbiting laboratory to develop a new cancer treatment that hopes to harness the immune system to fight tumors.

Houston innovator calls for collaboration from energy tech community

HOUSTON INNOVATORS PODCAST EPISODE 226

Scott Gale will be the first to admit that hosting a week of curated events targeted to a group of individuals within the tech and energy space isn't a novel idea — Climate Week NYC has been taking over Manhattan for over a decade. But Gale believes Houston deserves to have its own time to shine.

Earlier this month, Halliburton Labs, Rice Alliance, and Greentown Houston announced the inaugural Houston Energy and Climate Startup Week 2024 to take place in September, but Gale, executive director of Halliburton Labs, says he hopes this is just the beginning of Houston organizations coming together to collaborate on the initiative.

"I think we have a really awesome initial coalition. Whether your the fifth company or organization to raise its hand to do something that week or the 50th — it really doesn't matter," Gale says on the Houston Innovators Podcast. "It really is an open invitation — and I want to make that super clear."



Gale says that he's looked at some of the successful week-long events — like SXSW and others — and the key factors are calendar coordination and cross promotion. Now that Houston has the week set — September 9 to 13, 2024 — it's time for everyone to fill that week with a density of events anywhere around Houston to showcase the city's innovative energy community.

Those interested can learn more or submit their event information online.

The initiative falls in line with how Gale has led Halliburton Labs from its early days in 2020 to now with a focus on community. While the corporate world always needs eyes on its return on investment, supporting the innovation ecosystem has been a bit of a leap of faith – and it always will be.

"There's always this idea of having a line of sight to the outcomes (of your investment). And when you're interfacing with or investing in the startup community, you don't have the benefit of line of sight. A lot of the things that are being solved for are just too early stage. And that can be really hard for corporates to wrap their heads around," Gale says.

"One of the things that we got to was this idea that you can invest in the startup community, and you don't know where the returns will come from, but you know they will come," he continues.