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.

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

Property Showcase

Houston space tech companies land $25 million from Texas commission

Out Of This World

Two Houston aerospace companies have collectively received $25 million in grants from the Texas Space Commission.

Starlab Space picked up a $15 million grant, and Intuitive Machines gained a $10 million grant, according to a Space Commission news release.

Starlab Space says the money will help it develop the Systems Integration Lab in Webster, which will feature two components — the main lab and a software verification facility. The integration lab will aid creation of Starlab’s commercial space station.

“To ensure the success of our future space missions, we are starting with state-of-the-art testing facilities that will include the closest approximation to the flight environment as possible and allow us to verify requirements and validate the design of the Starlab space station,” Starlab CEO Tim Kopra said in a news release.

Starlab’s grant comes on top of a $217.5 million award from NASA to help eventually transition activity from the soon-to-be-retired International Space Station to new commercial destinations.

Intuitive Machines is a space exploration, infrastructure and services company. Among its projects are a lunar lander designed to land on the moon and a lunar rover designed for astronauts to travel on the moon’s surface.

The grants come from the Space Commission’s Space Exploration and Aeronautics Research Fund, which recently awarded $47.7 million to Texas companies.

Other recipients were:

  • Cedar Park-based Firefly Aerospace, which received $8.2 million
  • Brownsville-based Space Exploration Technologies (SpaceX), which received $7.5 million
  • Van Horn-based Blue Origin, which received $7 million

Gwen Griffin, chair of the commission, says the grants “will support Texas companies as we grow commercial, military, and civil aerospace activity across the state.”

State lawmakers established the commission in 2023, along with the Texas Aerospace Research & Space Economy Consortium, to bolster the state’s space industry.

Houston experts: Can AI bridge the gap between tech ambitions and market realities?

guest column

Despite successful IPOs from the likes of Ibotta, Reddit and OneStream, 2024 hasn’t provided the influx of capital-raising opportunities that many late-stage tech startups and venture capitalists (VCs) have been waiting for. Since highs last seen in 2021—when 90 tech companies went public—the IPO market has been effectively frozen, with just five tech IPOs between January and September 2024.

As a result, limited partners have not been able to replenish investments and redeploy capital. This shifting investment landscape has VCs and tech leaders feeling stuck in a holding pattern. Tech leaders are hesitant to enter the public markets because valuations are down 30 percent to 40 percent from 2021, which is also making late-stage fundraising more challenging. After all, longer IPO timelines mean fewer exit opportunities for VCs and reduced capital from institutional investors who are turning toward shorter-term investments with more liquid exit options.

Of course, there’s always an exception. And in the case of a slowed IPO market, a select slice of tech companies—AI-related companies—are far outperforming others. While not every tech startup has AI software or infrastructure as their core offering, most can benefit from using AI to revise their playbook and become more attractive to investors.

Unlocking Growth Potential with AI

While overall tech startup investment has slowed, the AI sector burns bright. This presents an opportunity for companies that strategically leverage AI, not just as a buzzword but as a tool for genuine growth and differentiation. Imagine a future where AI-powered insights unlock unprecedented efficiency, customer engagement and a paradigm shift in value creation. This isn’t just about weathering the current storm of reduced access to capital; it’s about emerging stronger, ready to lead the next wave of tech innovation.

Here's how to navigate the AI frontier and unlock its potential:

  1. Understand that data is the foundation of AI success. AI is powerful, but it’s not magic. It thrives on high-quality, interconnected data. Before diving into AI initiatives, companies must assess their data health. Is it structured in a way that AI can understand? Does it go beyond raw numbers to capture context and meaning—like customer sentiment alongside sales figures? Rethinking data infrastructure is often the crucial first step.
  1. Focus on amplifying strengths, not reinventing the wheel. The allure of AI can tempt companies into pursuing radical reinvention. However, a more effective strategy is to leverage AI to enhance existing strengths and address core customer needs. Why do customers choose your company? How can AI supercharge your value proposition? Consider Reddit’s strategic approach: They didn’t overhaul their platform before their 2024 IPO. Instead, they showcased the value of their vast online communities as fertile ground for AI development, leading to a remarkable first-day stock surge of 48 percent.

  2. Use AI as a customer-centric force multiplier. Companies with a deep understanding of their customer base are primed for AI success. By integrating AI into the very core of their product or service—the reason customers choose them—they can create a decisive competitive advantage based on delivering tangible customer value.

From Incremental Gains to Transformative Growth

This practical, customer-centric approach has the potential to help companies generate immediate growth while laying the foundation for future reinvention. By leveraging AI to optimize operations, deepen customer relationships, and redefine industry paradigms, late-state tech startups can not only survive but thrive in a dynamic market. The future belongs to those who embrace AI not as a destination but as a continuous journey of innovation and growth.

------

Hong Ogle is the president of Bank of America Houston. Rodrigo Ortiz Gomez is a market executive in Bank of America’s Transformative Technology Banking Group as well as the national software banking lead for the Global Commercial Bank.

Houston joint venture secures $5.2M for AI-powered methane tracking tech

Fresh Funds

Houston-based Envana Software Solutions has received more than $5.2 million in federal and non-federal funding to support the development of technology for the oil and gas sector to monitor and reduce methane emissions.

Thanks to the work backed by the new funding, Envana says its suite of emissions management software will become the industry's first technology to allow an oil and gas company to obtain a full inventory of greenhouse gases.

The funding comes from a more than $4.2 million grant from the U.S. Department of Energy (DOE) and more than $1 million in non-federal funding.

“Methane is many times more potent than carbon dioxide and is responsible for approximately one-third of the warming from greenhouse gases occurring today,” Brad Crabtree, assistant secretary at DOE, said in 2024.

With the funding, Envana will expand artificial intelligence (AI) and physics-based models to help detect and track methane emissions at oil and gas facilities.

“We’re excited to strengthen our position as a leader in emissions and carbon management by integrating critical scientific and operational capabilities. These advancements will empower operators to achieve their methane mitigation targets, fulfill their sustainability objectives, and uphold their ESG commitments with greater efficiency and impact,” says Nagaraj Srinivasan, co-lead director of Envana.

In conjunction with this newly funded project, Envana will team up with universities and industry associations in Texas to:

  • Advance work on the mitigation of methane emissions
  • Set up internship programs
  • Boost workforce development
  • Promote environmental causes

Envana, a software-as-a-service (SaaS) startup, provides emissions management technology to forecast, track, measure and report industrial data for greenhouse gas emissions.

Founded in 2023, Envana is a joint venture between Houston-based Halliburton, a provider of products and services for the energy industry, and New York City-based Siguler Guff, a private equity firm. Siguler Gulf maintains an office in Houston.

“Envana provides breakthrough SaaS emissions management solutions and is the latest example of how innovation adds to sustainability in the oil and gas industry,” Rami Yassine, a senior vice president at Halliburton, said when the joint venture was announced.

---

This story originally appeared on our sister site, EnergyCapitalHTX.com

View All Listings