New Houston startup pivots to provide relief for small businesses struggling to pay rent

HOUSTON INNOVATORS PODCAST EPISODE 27

Josh Feinberg's fintech startup might be a solution to your lack of capital amidst the COVID-19 crisis. Photo courtesy of Tenavox

Josh Feinberg hates security deposits. It's a sum of money sitting in an account, not earning interest and not doing either the landlord or the tenant any good.

That's why Feinberg and his co-founder, Marissa Limsiaco, created Otso. The duo previously founded Tenavox, an online portal for commercial real estate listings for brokers to generate leads, and have now launched this fintech platform that provides landlords with an alternative to cash security deposits.

Feinberg teamed up with Euler Hermes, a 135-year-old credit insurance company, to create Otso, and the credit company backs the lease performance of each tenant that is approved by Otso. The transaction calls for a fee added to the rent, but no large cash deposit would be required.

Both landlords and tenants can apply for Otso, and the process can be done with a new lease or an addendum for existing leases — something that Feinberg sees as an opportunity considering the financial burden COVID-19 has put on startups and small businesses.

Feinberg tells the Houston Innovators Podcast that, while he originally envisioned Otso to be a new deal product for landlords to offer an alternative to cash deposits, he saw the tool as an opportunity for small businesses struggling to pay rent that have a shortage of liquidity. He tossed out the original marketing plans and pivoted to present Otso as that liquidity solution for small business tenants.

"The cool thing about having a startup is that, unlike a big business, you can be really nimble," Feinberg says in the episode.

The COVID-19-caused crisis has rocked the commercial real estate industry. On a recent call with around 30 brokers, Feinberg says none of them had made a deal in the past month.

"This is the first time I've ever seen the entire market basically grind to a halt," he says.

On the episode, Feinberg shares some advice for startups worried about their relationship with their landlords. He stresses how important communication and tapping into resources available online like Otso, which has a slew of info online.

"Real estate is a team sport," Feinberg says. "You need these advisers now more than ever — talk to your landlord and your broker."

There's no doubt for Feinberg that the country is going to recover, and the biggest question marks are regarding timeline. Ultimately, innovative companies will pull through and might even be better for the challenges overcame.

"Great companies are built during crises — that's been true for a very long time," "There are smart people working on big problems no matter what the economy or outside markets are doing. And when they are able to survive periods like this, they come out significantly stronger than their competitors and weaker or outdated concepts."

Feinberg joins the Houston Innovators Podcast to discuss Otso, advice for startups keeping lean, and where the government's next round of relief should go to. Listen to the full episode below — or wherever you get your podcasts — and subscribe for weekly episodes.

Houston small businesses are struggling to pay their rent with doors closed and operations ceased — but where should the relief come from? Getty Images

Houston small businesses and landlords grapple with rent relief options during COVID-19 crisis

late fee

It's not too huge of an assumption to make that many Houston startups and small businesses failed to pay their rents in full yesterday. Since the city's stay-at-home mandate on March 24 — and even preceding that — most businesses have seen a slowdown of revenue as a result of COVID-19-caused business disruptions.

Business owners are frantically looking in their leases and searching online to see what rights they have and what sort of protection they have in such an unprecedented time.

"People are confused. They don't know what to do, and finding information is hard," says Meredith Wheeler, co-founder and chief creative officer of Sesh Coworking, which opened earlier this year.

Wheeler and Sesh's co-founder, Maggie Segrich, have created a petition to get on the radar of local elected officials to challenge them to pass legislation to protect small businesses in this time.

"At the end of the day, it would be so wonderful and idealistic to say that we could rely on the niceties and the moral compasses of our landlords, but it's probably not true for everyone and so that's why we need legislation to dictate what is right," Wheeler says.

But landlords are also in unchartered territory, says Josh Feinberg, who has worked in Houston as a commercial real estate broker and co-founded CRE tech platform, Tenavox.

"There's this idea that there's this acrimony between tenant and landlord, and I think, as a former broker, we're set up that way to get our side the best deal. But in reality, that's just not true," Feinberg says. "The majority of commercial real estate is owned by regular people — not usually some faceless, gigantic corporation."

And they have a piper to pay too, Feinberg adds. Ninety percent of CRE is owned by debt, he says. If the government steps in anywhere, it should be on the lender level, as well as creating some sort of tax relief.

"If there's any relief here, it's going to have to come from lenders, and I think you'd hear that from owners and brokers," Feinberg says.

In somewhat convenient timing, Tenavox has recently co-founded a new company that provides a bit of a solution for small businesses. Otso provides landlords with an alternative to cash security deposits. Traditionally, deposits are held onto by landlords — they aren't legally allowed to spend it unless the tenant defaults.

"In general, I think cash deposits are wasteful," Feinberg says. "It's critical capital that the business can hire with, invest, and use."

Tenavox teamed up with Euler Hermes, a 135-year-old credit insurance company, to create Otso, and the credit company backs the lease performance of each tenant that is approved by Otso. The transaction calls for a fee added to the rent, but no large cash deposit would be required.

The tool can be used on new leases, and, in light of the current situation, Otso can also be used to create an addendum in existing leases so that the tenant can get back their deposit and use it in this time of crisis. Either landlord or tenant can apply online and hear back that same day — Feinberg says he's focused on a speedy response to help get this deposit money back to the tenant.

"If we can get some liquidity back into the hands of the business, they have some a better chance of survival," Feinberg says.

Other than looking into Otso, Feinberg has some other recommendations for small business owners. He says they should be applying for relief from the Small Business Administration, which has more money to dole out than they have ever had. And, as it pertains to working with their landlords, communication is key. Show financials and specific information — like what March 2019 looks like compared to 2020 — so that landlords can take that to their lenders.

"An unprecedented crisis is going to require unprecedented solutions," Feinberg says.

These three movers and shakers in innovation are ones to know going into this week. Courtesy photos

3 Houston innovators to know this week

Who's Who

This week's Houston innovators to know covers all the bases, from a freshly started startup to one that closed a multimillion-dollar raise. Here's who in Houston innovation that you need to know.

Joe Alapat, CEO of Liongard

Houston-based Liongard has fresh funds thanks to a $4.5 million round. Courtesy of Liongard

Joe Alapat has something to celebrate. His Houston-based startup, Liongard — an Information Technology automation and management company — closed its Series A round of funding with an oversubscribed $4.5 million.

"This investment will help us accelerate development and integrations to create additional visibility across the varied technology stacks that MSPs [or, managed service provider] support," says Alapat in a release. "Our true goal is to support MSPs across the entire client journey — automating onboarding, documentation, and insight that speeds up issue resolution — unleashing teams to operate at 10X." Read the full story here.

Marissa Limsiaco, CEO of Tenavox

This month, InnovationMap is profiling the faces of Pride within innovation. Marissa Limsiaco, CEO of Tenavox, discusses her career and the company's expansion plans. Courtesy of Tenavox

Though Marissa Limsiaco actually resides down Highway 290 in Austin, her company, Tenavox, has some of its operations here. The commercial real estate-finding tech tool is growing, and Limsiaco is among the ones to credit for Tenavox's success. She discussed the growth plans — including the plan to enter the Dallas market by the end of the year — in a special Pride Month series. Read the Q&A here.

Ryan Schwartz, CEO and founder of Mental Health Match

Ryan Schwartz realized online dating was easier than finding a therapist. He created a tool to change that. Courtesy of Mental Health Match

When you're in great need for a therapist, the worst thing you have to do go through the process to actually find someone you can count on. It's a tiring process to discover a new therapist who meshes well with you and has the capabilities for what you need. Ryan Schwartz created Mental Health Match to pair up patient to professional — and it's designed to be free for those who need it most: The patient. Check out the story here.


This month, InnovationMap is profiling the faces of Pride within innovation. Marissa Limsiaco, CEO of Tenavox, discusses her career and the company's expansion plans. Courtesy of Tenavox

Tenavox leader on expanding in Texas and LGBTQ representation within innovation

Featured innovator

After founding her second startup, Marissa Limsiaco thought that would be her last.

But years later, Limsiaco, a U.S. Army veteran with three degrees under her belt, was pulled back into the entrepreneurship world by Tenavox, a commercial real estate leasing company that gives tenants negotiating power through an online platform that shares space requirements, location and an expected price for the unit.

This month, InnovationMap is profiling the faces of Pride within Houston innovation. Limsiaco spoke with InnovationMap about her career, Tenavox, and the importance of the LGBTQ community in entrepreneurship.

InnovationMap: What has happened with Tenavox in the last eight months since InnovationMap has spoken with you?

Marissa Limsiaco: Oh gosh, it has felt like years. In the startup world, eight months is like two years and three months is like a year it feels. (Back in November), we were just launching our sales efforts.

Since last year going into this year, our (monthly recurring revenue) has grown over 100 percent. We've now connected tenants to agents and generated over $3.5 million in deals. So that's been really exciting that we're making those connections. And now most recently, we've closed a round this month. We are kind of focusing on a new offering called Tour Ready that we're selling to customers are on the project leasing side. Ultimately, it allows people who are looking for space to see and book a tour in a matter of minutes if it feeds their needs.

IM: I know that you took your service in the military and used that experience with leadership and management to become a successful entrepreneur. You have been a part of different startups in addition to Tenavox. Could you have imagined yourself at this point in your career 5 to 10 years ago?

ML: Absolutely not. I would not have even thought this was an option 5 or 6 years ago. Even though I was out of the Army, I was still learning business and going through that transition. After that second business that I started I told myself "I'm never going to do this again," and now I'm on my fourth.

IM: What compelled you to keep going in the startup world?

ML: It was this opportunity and the impact that we can have on everybody that we're helping on this platform, from business owners all the way to commercial agents and ownership groups. As a business owner myself, I experience the struggle firsthand of finding space and how frustrating that was. And it's sad that in 2019, one of the most effective ways to find spaces is driving around, calling signs with little to no information. When I saw how big the problem was and how antiquated the industry is where nothing has changed as far as making it any better for people to search for space to lease, I was just super determined to solve this problem.

IM: The last time InnovationMap spoke to you, Tenavox had just received funding from RealCo, an accelerator program funded by Geekdom fund. What has that funding been used for?

ML: Oh, yeah, we've raised more funding since then. And we have enough money now to go to the rest of Texas, which is exciting.

IM: When are the expansions?

ML: Well right now, we're in Houston and Austin and then we're going to go to Dallas towards the end of this year. We are also going to raise a round to go out of Texas. Josh [Feinberg, my co-founder,] and I have a larger vision vision for Tenavox and we really want to take it national. So we're going to prepare toward the end of this year, and next year we're going to open up on a bigger round of fundraising to be able to go to other states.

IM: What are some of the ways the tech and innovation community support their LGBTQ colleagues throughout the month of June?

ML: Expanding to other industries and awareness of minorities in other industries, whether it be LGBTQ or women, I think highlighting folks that are in those groups that are in the industry helps a lot. Two years ago when I became CEO and we started this company, it was daunting and scary. There's not a lot of women doing what I do, right? Something that keeps me going is that I have to show another girl or whoever that it's possible to be in my position.

IM: What advice would you have for a young gay or lesbian entrepreneur heading into the military or tech and real estate industries?

ML: Don't be scared to do things that you're scared of. I know everybody's different but the times I found myself in positions like I am today was because I was scared of it. I was scared of what happened, but I knew that I had to do it to overcome it or to see what would happen. The last industry in this whole entire world ever that I would have thought about five years ago would be commercial real estate. And yet when the opportunity presented itself, I just went for it. I just knew that I was going to grow and because I challenged myself and whenever I've faced that, I've come out totally another person, especially just me personally in this role. I tell a lot of the young people that I mentor that if an opportunity presents itself and it may not interest you, you should still look into because you just never know.

IM: What does Pride Month mean to you?

ML: It means empowering the LGBTQ community. The importance of having a whole month in this year that is dedicated to reminding everybody — and it even extends beyond LGBTQ — that you should just be who you are. Be proud of who you are. And I think that means a lot.

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Portions of this interview have been edited.

These three entrepreneurs are in the business of solving problems. Courtesy photos

3 Houston innovators to know this week

Who's who

Entrepreneurs see a problem, and solve it. This week's three innovators to know are no different. All three have personal stories of realizing there's something not right — and there's something they could do about it.

Here are this week's innovators with small businesses and big growth plans.

Yared Akalou, founder of Alcove Group

Courtesy of Yared Akalou

Yared Akalou found the perfect job for himself — only problem was that it was in San Diego. Uninterested in moving his wife and young daughter across the country, he decided to prove to his new employer that he could handle most of the job's responsibilities remotely, while traveling when needed.

It wasn't easy, and his user experience-focused mind realized there was a concentration problem when you worked remotely in public spaces. Now, with Alcove, he's created a solution. Alcove is a laptop case that pops up into a workspace that increases focus and privacy.

Alcove is available online, but Akalou has lofty goals of partnering with large companies to get Alcove in the hands of consultants, for instance.

Megan Eddings, founder of Accel Lifestyle

Courtesy of Accel Lifestyle

Entrepreneurs have to have a certain amount of positivity when it comes to all the challenges they face, and Megan Eddings has a surplus of both challenges and positivity. She's fought for years to design the perfect fabric that doesn't hold on to bacteria and sweat smells for a line of athleticwear she's creating. The chemist-turned-medical sales professional is now close to getting her company, Accel Lifestyle, off the ground.

When she's not focusing on Accel, she likes to inspire others to follow their passions and take a leap of faith like she did at speaking engagements or on social media. She even inspired her husband, Kyle, to start something of his own too.

Josh Feinberg, co-founder of Tenavox

Courtesy of Tenavox

For years, Josh Feinberg was a broker focusing on The Woodlands when he realized there was a huge need in the commercial real estate sector that brokers weren't able to fill. The equation was just off — there just aren't enough brokers to manage the millions of available square feet of space in major metros.

Feinberg created Tenavox with his business partner, Marissa Limsiaco, who is based in Austin. Tenavox is a website where small business owners can find space that fits their needs. Tenavox can benefits both sides of the transaction: entrepreneurs are only shown compatable properties and brokers are only getting tenant leads that are serious contenders.

The site also has VoxLink, which is a directory of industry experts — tenant brokers, moving companies, lawyers, etc. Feinberg hopes to expand to 50 metros in the next five years.

Josh Feinberg and Marissa Limsiaco have created a resource for small businesses to find commercial space with their fast-growing startup, Tenavox. Courtesy of Tenavox.

Real estate startup makes it easier for Houston small businesses to find space

Clickable

Whether you're looking for a home, a hair stylist, or an electrician, you're probably going online to find it. A Texas startup is trying to make finding retail or office space for small businesses just as easy and accessible.

Traditionally, businesses hire a broker to find applicable commercial real estate property to rent. But Josh Feinberg, a former broker with J. Beard Real Estate Co., says small business owners are more frequently beginning the search process online themselves — to no avail, since there really isn't any resources out there for tenants.

"We're the only tenant-focused platform," Feinberg says. "Commercial real estate isn't like residential where there's 100 websites that can show people homes to buy or apartments to rent."

He's worked over the past few years with his business partner, Marissa Limsiaco, to create Tenavox, an online referring platform where small business owners can search and find properties that fit their budgets, space requirements, and location.

"We're in a time where people don't want to waste time to be matched or linked to things they need, whether it be food coming to your door or a car picking you up to go somewhere," Limsiaco says. "Tenavox almost like a dating platform, where business owners tell us what their needs are in a space, vendors tell us who their ideal client or tenant is, and Tenavox matches them efficiently."

Tenavox currently has over 120 million square feet of rentable, searchable property in Houston and Austin. The company launched in Houston originally, where both the founders are from and where Feinberg is based, before moving into the Austin market, where Limsiaco now lives. It's free for users — just sign in with your email address and begin your search. You get only results that fit your specifications, and Tenavox only gets a kick back when a deal is made. The startup also recently picked up funding from RealCo, an accelerator program funded by Geekdom Fund.

Brokers stand to benefit from Tenavox as well. It's cheap for retail or office brokers to list their properties — $25 a year per property — and brokers only get potential leads that fit the profile of the property. For instance, if a small business owner is looking for a retail space in the Galleria area, they will only be matched with properties in the Galleria area that fit their budget.

"Brokers' sole job is to generate transactions," Feinberg says. "Tenavox is the only targeted marketing solution that is qualified lead generation for commercial brokers."

But that's just the start for the company that launched in March. Now that the infrastructure and data is set in place, Feinberg says they will expand to all the major Texas cities by next year and in over 50 markets nationwide in the next five years. Feinberg says they are targeting metros in private-record states, where traditionally there's more power on the landlord side of transactions.

Tenavox is also expanding its features for users. VoxLink is a search engine option within Tenavox where users can find reputable brokers, lawyers, moving companies, or other service providers.

"We're not just a listing site," Feinberg says. "We're a comprehensive resource."

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5 incubators and accelerators fueling the growth of Houston startups

meet the finalists

Houston is home to numerous accelerators and incubators that support founders in pushing their innovative startups and technologies forward.

As part of our 2025 Houston Innovation Awards, the new Incubator/Accelerator of the Year category honors a local incubator or accelerator that is championing and fueling the growth of Houston startups.

Five incubators and accelerators have been named finalists for the 2025 award. They support startups ranging from hard-tech companies to digital health startups.

Read more about these organizations below. Then join us at the Houston Innovation Awards on Nov. 13 at Greentown Labs, when the winner will be unveiled.

Get your tickets now on sale for this exclusive event celebrating Houston Innovation.

Activate

Hard tech incubator Activate supports scientists in "the outset of their entrepreneurial journey." The Houston hub was introduced last year, and joins others in Boston, New York, and Berkley, California—where Activate is headquartered. It named its second Houston cohort this summer.

This year, the incubator grew to include its largest number of concurrent supported fellows, with 88 companies currently being supported nationally. In total, Activate has supported 296 fellows who have created 236 companies. Those companies have raised over $4 billion in follow-on funding, according to Activate. In Houston, it has supported several Innovation Awards finalists, including Solidec, Bairitone Health and Deep Anchor Solutions. It is led locally by Houston Managing Director Jeremy Pitts.

EnergyTech Nexus

Cleantech startup hub EnergyTech Nexus' mission is to accelerate the energy transition by connecting founders, investors and industrial stakeholders and helping to develop transformative companies, known as "thunderlizards."

The hub was founded in 2023 by CEO Jason Ethier, Juliana Garaizar and Nada Ahmed. It has supported startups including Capwell Services, Resollant, Syzygy Plasmonics, Hertha Metals, EarthEn Energy and Solidec—many of which are current or past Innovation Awards finalists. This year Energy Tech Nexus launched its COPILOT Accelerator, powered by Wells Fargo Innovation Incubator (IN²) at the National Renewable Energy Laboratory (NREL). COPILOT partners with Browning the Green Space, a nonprofit that promotes diversity, equity and inclusion (DEI) in the clean energy and climatech sectors. Energy Tech Nexus also launched its Liftoff fundraising program, its Investor Program, and a "strategic ecosystem partnership" with Greentown Labs.

Greentown Labs

Climatetech incubator Greentown Labs offers its community resources and a network to climate and energy innovation startups looking to grow. The collaborative community offers members state-of-the-art prototyping labs, business resources and access to investors and corporate partners. The co-located incubator was first launched in Boston in 2011 before opening in Houston in 2021.

Greentown has seen major changes and activity this year. In February, Greentown announced Georgina Campbell Flatter as its new CEO, along with a new Board of Directors. In July, it announced Lawson Gow as its Head of Houston, a "dedicated role to champion the success of Greentown Houston’s startups and lead Greentown’s next chapter of impact in the region," according to Greentown. It has since announced numerous new partnerships, including those with Energy Tech Nexus, Los Angeles-based software development firm Nominal, to launch the new Industrial Center of Excellence; and Houston-based Shoreless, to launch an AI lab onsite. Greentown Houston has supported 175 startups since its launch in 2021, with 45 joining in the last two years. Those startups include the likes of Hertha Metals, RepAir Carbon, Solidec, Eclipse Energy (formerly GoldH2) and many others.

Healthtech Accelerator (TMCi)

The Healthtech Accelerator, formerly TMCx, focuses on clinical partnerships to improve healthcare delivery and outcomes. Emerging digital health and medical device startups that join the accelerator are connected with a network of TMC hospitals and seasoned advisors that will prepare them for clinical validation, funding and deployment.

The Healthtech Accelerator is part of Texas Medical Center Innovation, which also offers the TMCi Accelerator for Cancer Therapeutics. The Healthtech Accelerator named its 19th, and latest, cohort of 11 companies last month.

Impact Hub Houston

Impact Hub Houston supports early-stage ventures at various stages of development through innovative programs that address pressing societal issues. The nonprofit organization supports social impact startups through mentorship, connections and training opportunities.

There are more than 110 Impact Hubs globally with 24,000-plus members spanning 69 countries, making it one of the world’s largest communities for accelerating entrepreneurial solutions toward the United Nations' Sustainable Development Goals (SDGs).

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The Houston Innovation Awards program is sponsored by Houston City College Northwest, Houston Powder Coaters, FLIGHT by Yuengling, and more to be announced soon. For sponsorship opportunities, please contact sales@innovationmap.com.



Rice University launches  engineering-led brain science and health institute

brain research

Rice University has announced the creation of a new interdisciplinary center known as the Rice Brain Institute (RBI).

The new hub will aim to use engineering, natural sciences and social sciences to research the brain and reduce the burden of neurodegenerative, neurodevelopmental and mental health disorders.

“The Rice Brain Institute reflects Rice’s strength in collaboration without boundaries,” Rachel Kimbro, dean of the School of Social Sciences, said in a news release. “Our researchers are not only advancing fundamental science but they’re also ensuring that knowledge reaches society in ways that promote human flourishing.”

RBI researchers will work in thematic clusters focusing on neurodegeneration, mental health, brain injury and neurodevelopment. The clusters will work toward goals such as significantly improving key brain health outcomes, reducing mortality and mental health disorders and improving quality of life for patients living with brain injuries and neurodevelopmental disorders, according to Rice.

The institute will focus on “engineering-driven innovation,” rather than traditional neuroscience, to design tools that can measure, model and modulate brain activity based around Rice’s expertise in soft robotics, neuroimaging, data science and artificial intelligence—making it unique among peer organizations, according to Rice.

Additionally, RBI will be structured around three collaborative Rice “pillars”:

  • The Neuroengineering Initiative, launched in 2018, brings together neuroscience, engineering, and related fields experts
  • The Neuroscience Initiative, a new initiative that brings together cell biologists, neurobiologists, biochemists, chemists and physicists to explore fundamental mechanisms of the brain and nervous system
  • The Brain and Society Initiative, also a new initiative, considers brain research within the broader social and policy landscape

Rice’s Neuroengineering Initiative has already garnered more than $78 million in research funding, according to Rice, and has established major partnerships, like the Rice-Houston Methodist Center for Neural Systems Restoration.

“Rice is uniquely equipped to bridge and connect scientific understanding of the brain and behavior sciences with the technologies and policies that shape our world,” Amy Dittmar, the Howard R. Hughes Provost and executive vice president for academic affairs, added in the news release. “By uniting faculty in neuroengineering, neuroscience and psychological sciences, this interdisciplinary hub embodies the kind of bold, nimble collaboration that allows Rice to turn discovery into societal impact to save lives and enhance human flourishing.”

The formation of the RBI coincides with recent support of the Dementia Prevention Research Institute of Texas (DPRIT), which landed voter approval earlier this week and aims to make Texas the center for dementia research via brain-health tech. According to the World Economic Forum, brain disorders and mental health disorders cost the global economy an estimated $5 trillion per year and could be as high as $16 trillion by 2030.

“Few areas of research have as direct and profound an impact on human well-being as brain health,” Rice President Reginald DesRoches added in the news release. “As rates of Alzheimer’s, dementia and other neurological diseases rise in our country and around the world, universities have a responsibility to lead the discovery of solutions that preserve memory, movement and quality of life. We all know someone who has been affected by a brain-related health issue, so this research is personal to all of us.”

Texas voters OK $3 billion for new dementia research institute

state funding

Texas voters on Nov. 4 overwhelmingly approved a ballot measure that provides $3 billion in state funding over a 10-year span for the newly established Dementia Prevention and Research Institute of Texas (DPRIT).

Thanks to the passage of Proposition 14, Texas now boasts the country’s largest state-funded initiative dedicated to dementia research and prevention, according to the Alzheimer’s Association. Up to $300 million in grants will be awarded during the 10-year funding period.

“This is a transformative moment for Texas and for the fight against Alzheimer’s and all other dementia,” said Joanne Pike, president and CEO of the Alzheimer’s Association. “Texans have chosen to invest in hope, innovation, and solutions for the millions of families affected by these devastating diseases. With the passage of Proposition 14, Texas is now poised to lead the nation in dementia research and prevention.”

The association says DPRIT will drive scientific breakthroughs, attract top-notch dementia researchers to Texas, and generate thousands of jobs statewide.

An estimated 460,000 Texans are living with dementia, the association says, and more than one million caregivers support them.

DPRIT is modeled after the Cancer Prevention and Research Institute of Texas (CPRIT). Since 2008, the state agency has awarded nearly $4 billion in grants to research organizations for cancer-related academic research, prevention programs, and product development.

An analysis by the McKinsey Health Institute found that investing in brain health initiatives like DPRIT could boost Texas’ GDP by $260 billion. Much of that GDP bump could benefit the Houston area, which is home to dementia-focused organizations such as UTHealth Houston Neurosciences, Baylor College of Medicine’s Center for Alzheimer’s and Neurodegenerative Diseases, the University of Texas Medical Branch at Galveston’s Collaborative Alzheimer’s Disease and Memory Disorders Program, and the Houston Methodist Research Institute’s John M. O’Quinn Foundation Neurodegenerative Disorders Laboratory.

The Greater Houston Partnership says DPRIT holds the potential “to elevate Texas — particularly Houston — as a hub for brain health research.”

State Sen. Joan Huffman, a Houston Republican, is one of DPRIT’s champions. She sponsored legislation this year to create the institute and ask Texas voters to approve the $3 billion in funding.

“By establishing the Dementia Prevention and Research Institute of Texas, we are positioning our state to lead the charge against one of the most devastating health challenges of our time,” Huffman said in May. “With $3 billion in funding over the next decade, we will drive critical research, develop new strategies for prevention and treatment, and support our health care community.”

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