5 most popular innovation stories in Houston this week

WHAT'S TRENDING

Houston has a unicorn, The Ion has its first academic partnership, innovators to know, and more top news of the week. Courtesy of Rice University

Editor's note: The new year is officially in full swing, with Houston innovation news coming in hot — from a Houston business reaching unicorn status, or $1 billion in valuation, to news coming out of innovation hubs. Here's what this week's top stories were.

3 Houston innovators to know this week

This week's innovators to know are focused on using artificial intelligence in data management, banking for startups, and 5G awareness in Houston. Courtesy photos

This year, Houston's innovation ecosystem is set to change tenfold — from the rise of 5G to burgeoning startup and entrepreneurial hubs emerging across town.

Today's featured innovators know a bit about these movements — from an entrepreneur using artificial intelligence in data management for his clients to a banking exec who went all-in on startups. Continue reading.Continue reading.

2 Houston startups land multimillion-dollar venture capital investments

Riversand and Gecko Robotics are starting of 2020 with fresh funds for scaling business. Pexels

Two Houston tech companies are starting off 2020 with fresh funds in their pockets — to the tune of millions and millions of dollars.

Houston-based Riversand raised an additional $10 million last month, and Gecko Robotics, which has an office in Houston, closed a $40 million series B round. Continue reading.

Local bank commits to Houston startup scene by setting up shop in The Cannon

As a part of a national trend, a Houston bank has moved into a space in Houston's largest coworking hub. Texas Citizens Bank/Facebook

Pasadena-based Texas Citizens Bank is getting cozy with current and potential customers at its new branch within The Cannon coworking campus.

Jimmy Allen, executive vice president and chief operating officer of Texas Citizens Bank, says the bank's new 3,900-square-foot location — its seventh branch in the Houston area — fits perfectly within The Cannon's 120,000-square-foot building, which Texas Citizens helped build. The branch opened in December 2019; the grand opening is planned for February 2020.

"Owner-operated businesses are both the genesis of our business model and [a] key customer segment served," says Allen, who was named to his position in September. "A subset of that group certainly includes young, relatively new companies, which favor the current trend in coworking or live-work-play communities." Continue reading.

The Ion names inaugural academics partner, course programming for Houston hub

Rice University's Glasscock school of Continuing Studies is the Ion's first academic partnership to be announced. Courtesy of Rice University

A burgeoning entrepreneurship hub has taken a major step forward in its development with the announcement of its first academic partner and coursework for the partnership.

The Ion has teamed up with Rice University's Glasscock School of Continuing Studies to bring programming to the to-be hub, which is expected to open in early 2021.

"We are thrilled to extend our programming to the Ion constituents and Houston's innovation ecosystem," says Robert Bruce Jr., dean of Rice's Continuing Studies school, in a news release. "Continuing education, whether that takes the form of an advanced certificate or a single course, is an important part of the innovation lifecycle, and we are excited to provide this to Houston's entrepreneurs." Continue reading.

Houston SaaS company achieves unicorn status following $125 million fundraising round

Houston-based HighRadius has reported reaching unicorn status following a $125 million raise. Photo via highradius.com

Following the closing of a $125 million series B investment round, a Houston software-as-a-service company is boosting a new title: Unicorn.

HighRadius, an artificial intelligence-powered fintech software company, has announced its unicorn status, which is defined as being valued at over $1 billion. The series B round, which achieved this status for HighRadius, was led by ICONIQ Capital, with participation from existing investors Susquehanna Growth Equity and Citi Ventures, according to a news release from the company.

"Today marks an important milestone for HighRadius and we're thrilled to have ICONIQ join us in our vision to modernize the Order to Cash space," says Sashi Narahari, founder and CEO of HighRadius, in a news release. "ICONIQ combines patient capital with a long-term vision of investing in category-defining businesses, and the firm has worked with some of the world's most successful tech entrepreneurs. We are building HighRadius into a self-sustaining, long-term category leader, and ICONIQ is a great partner for us in this journey." Continue reading.

This week's innovators to know are focused on using artificial intelligence in data management, banking for startups, and 5G awareness in Houston. Courtesy photos

3 Houston innovators to know this week

Who's who

This year, Houston's innovation ecosystem is set to change tenfold — from the rise of 5G to burgeoning startup and entrepreneurial hubs emerging across town.

Today's featured innovators know a bit about these movements — from an entrepreneur using artificial intelligence in data management for his clients to a banking exec who went all-in on startups.

Tony Nash, founder and CEO of Complete Intelligence

Courtesy of Complete Intelligence

Every company wishes they have a crystal ball when it comes to making business decisions, and while a physical iteration of that wish isn't possible, Tony Nash has developed the next best thing for his clients at his startup, Complete Intelligence.

Founded in 2015, Complete Intelligence is an AI platform that forecasts assets and allows evaluation of currencies, commodities, equity indices and economics. The Woodlands-based company also does advanced procurement and revenue for corporate clients.

"We've spent a couple years building this," says Nash in a recent InnovationMap interview. "We have a platform that is helping clients with planning, finance, procurement and sales and a host of other things. ... We built a model of the global economy and transactions across the global economy, so it's a very large, very detailed artificial intelligence platform." Read more.

Brian Richards, Houston innovation hub director at Accenture and board member at Houston Exponential

Courtesy of Accenture

The rise of 5G in Houston feels familiar to Brian Richards. He writes in a recent guest column that the development of the technology is similar to the moment in Houston's history when NASA landed a man on the moon.

There are a few similarities Richards expresses in his article, as well as providing more information about 5G itself, but the undeniable fact is 5G will create a lasting impact in Houston.

"Above all, as Houston continues to race toward building a world-class innovation ecosystem and a sustainable, thriving economy, we simply can't take our foot off the gas in the 5G race — much like the moon race," he writes. "It's an imperative that the region continue to lead in 5G network adoption and that our local industries and businesses envision, plan and develop new ways of working." Read more.

Jimmy Allen, executive vice president and chief operating officer of Texas Citizens Bank

Courtesy of Texas Citizens Bank

It's become a bit of a trend to see banks taking a bet on startups — Capital One, for instance, has even entered the coworking industry itself. And one Houston-area bank has become an early adopter of this trend locally.

Jimmy Allen, executive vice president and chief operating officer of Texas Citizens Bank, says the bank's new 3,900-square-foot location — its seventh branch in the Houston area — fits perfectly within The Cannon's 120,000-square-foot building in West Houston, which Texas Citizens helped build. The branch opened in December 2019; the grand opening is planned for January 2020.

"Owner-operated businesses are both the genesis of our business model and [a] key customer segment served," says Allen, who was named to his position in November. "A subset of that group certainly includes young, relatively new companies, which favor the current trend in coworking or live-work-play communities." Read more.

As a part of a national trend, a Houston bank has moved into a space in Houston's largest coworking hub. Texas Citizens Bank/Facebook

Local bank commits to Houston startup scene by setting up shop in The Cannon

Moving in

Pasadena-based Texas Citizens Bank is getting cozy with current and potential customers at its new branch within The Cannon coworking campus.

Aside from offering traditional banking products like loans and checking accounts, Texas Citizens serves as a financial consultant to startups that are occupants of The Cannon, according to Allen. Texas Citizens is now the official bank for The Cannon and Cannon Ventures, an angel investment network housed at the coworking space.

The Cannon is at 1334 Brittmoore Rd. in the Energy Corridor. It operates two other entrepreneurial hubs in Houston — one downtown and the other in the Post Oak area. Allen says branches could pop up in other locations of The Cannon.

"When we first opened the bank in 2006, our goal was to advise and assist owner-operated businesses … in the greater Houston area," Duncan Stewart, chairman and CEO of Texas Citizens, says in a release. "Our new location helps further that goal. This unique placement allows us to tap into new markets and assist more entrepreneurs in their financial and operational development."

Stewart plans to spend time at his bank's new branch at The Cannon, according to Texas Citizens. Irene Duque, senior vice president, manages the branch.

Texas Citizens' other branches are in the West University area of Houston as well as Pasadena, Baytown, Clear Lake, Nassau Bay, and Rosenberg. Its assets exceeded $540 million as of June 30, 2019.

Texas Citizens' outpost at The Cannon is part of a growing relationship between coworking spaces and banks. In some cases, banks are leasing vacant space to coworking tenants or are creating flexible office space within empty square footage, according to American Banker. In other cases, banks are tenants in coworking spaces, as is the situation with Texas Citizens at The Cannon.

One banking giant, Capital One, has entered the coworking sector in a significant way. The bank has established free-to-use coworking cafés that offer traditional financial services but also furnish access to Wi-Fi, charging stations, workspaces, community rooms, coffee, and pastries.

Across the country, Capital One operates roughly 40 cafés. None of the them are in the Houston area.

"The space feels WeWork-y, with marble tables, brand new chairs, spotless concrete floors, and private study rooms. The aesthetic is 'venture capital,'" a writer for Los Angeles magazine observed in November 2019 after visiting a Capital One Café.

The first Capital One Café opened in 2015 in Boston.

"In modeling the cafés, Capital One responded to what it heard from consumers: Bank branches were intimidating and stressful," the Wall Street Journal reported in November 2019. "At the cafés and branches, the employee dress code is relaxed, and customers can open accounts on iPads. The cafés also host community groups and hold workshops such as 'Talking Money With Your Honey,' which focuses on finances in relationships."

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Rice biotech accelerator appoints 2 leading researchers to team

Launch Pad

The Rice Biotech Launch Pad, which is focused on expediting the translation of Rice University’s health and medical technology discoveries into cures, has named Amanda Nash and Kelsey L. Swingle to its leadership team.

Both are assistant professors in Rice’s Department of Bioengineering and will bring “valuable perspective” to the Houston-based accelerator, according to Rice.

“Their deep understanding of both the scientific rigor required for successful innovation and the commercial strategies necessary to bring these technologies to market will be invaluable as we continue to build our portfolio of lifesaving medical technologies,” Omid Veiseh, faculty director of the Launch Pad, said in a news release.

Amanda Nash

Nash leads a research program focused on developing cell communication technologies to treat cancer, autoimmune diseases and aging. She previously trained as a management consultant at McKinsey & Co., where she specialized in business development, portfolio strategy and operational excellence for pharmaceutical and medtech companies. She earned her doctorate in bioengineering from Rice and helped develop implantable cytokine factories for the treatment of ovarian cancer. She holds a bachelor’s degree in biomedical engineering from the University of Houston.

“Returning to Rice represents a full-circle moment in my career, from conducting my doctoral research here to gaining strategic insights at McKinsey and now bringing that combined perspective back to advance Houston’s biotech ecosystem,” Nash said in the release. “The Launch Pad represents exactly the kind of translational bridge our industry needs. I look forward to helping researchers navigate the complex path from discovery to commercialization.”

Kelsey L. Swingle

Swingle’s research focuses on engineering lipid-based nanoparticle technologies for drug delivery to reproductive tissues, which includes the placenta. She completed her doctorate in bioengineering at the University of Pennsylvania, where she developed novel mRNA lipid nanoparticles for the treatment of preeclampsia. She received her bachelor’s degree in biomedical engineering from Case Western Reserve University and is a National Science Foundation Graduate Research Fellow.

“What draws me to the Rice Biotech Launch Pad is its commitment to addressing the most pressing unmet medical needs,” Swingle added in the release. “My research in women’s health has shown me how innovation at the intersection of biomaterials and medicine can tackle challenges that have been overlooked for far too long. I am thrilled to join a team that shares this vision of designing cutting-edge technologies to create meaningful impact for underserved patient populations.”

The Rice Biotech Launch Pad opened in 2023. It held the official launch and lab opening of RBL LLC, a biotech venture creation studio in May. Read more here.

University of Houston archaeologists make history with Mayan tomb discovery

History in the Making

Two University of Houston archaeologists have made scientific history with the discovery of a Mayan king's tomb in Belize.

The UH team led by husband and wife scientists Arlen F. Chase and Diane Z. Chase made the discovery at Caracol, the largest Mayan archeological site in Belize, which is situated about 25 miles south of Xunantunich and the town of San Ignacio. Together with Belize's Institute of Archeology, as well as support from the Geraldine and Emory Ford Foundation and the KHR Family Fund, they uncovered the tomb of Caracol's founder, King Te K’ab Chaak. Their work used airborne light detection and ranging technology to uncover previously hidden roadways and structures that have been reclaimed by the jungle.

The tomb was found at the base of a royal family shrine. The king, who ascended the throne in 331 AD, lived to an advanced enough age that he no longer had teeth. His tomb held a collection of 11 pottery vessels, carved bone tubes, jadeite jewelry, a mosaic jadeite mask, Pacific spondylus shells, and various other perishable items. Pottery vessels found in the chamber depict a Maya ruler wielding a spear as he receives offerings from supplicants represented as deities; the figure of Ek Chuah, the Maya god of traders, surrounded by offerings; and bound captives, a motif also seen in two related burials. Additionally, two vessels had lids adorned with modeled handles shaped like coatimundi (pisote) heads. The coatimundi, known as tz’uutz’ in Maya, was later adopted by subsequent rulers of Caracol as part of their names.

Diane Chase archaeologist in Mayan tomb Diane Z. Chase in the Mayan tomb. Photo courtesy of University of Houston

During the Classical Period, Caracol was one of the main hubs of the Mayan Lowlands and covered an area bigger than that of present-day Belize City. Populations survived in the area for at least 1,000 years before the city was abandoned sometime around 900 AD. The royal dynasty established by Te K’ab Chaak continued at Caracol for over 460 years.

The find is also significant because this was roughly when the Mexican city of Teotihuacan made contact with Caracol, leading to a long relationship of trade and cultural exchange. Cremation sites found in Caracol contain items that would have come from Teotihuacan, showing the relationship between the two distant cities.

"Both central Mexico and the Maya area were clearly aware of each other’s ritual practices, as reflected in the Caracol cremation," said Arlen F. Chase, professor and chair of Comparative Cultural Studies at the University of Houston.

“The connections between the two regions were undertaken by the highest levels of society, suggesting that initial kings at various Maya cities — such as Te K’ab Chaak at Caracol — were engaged in formal diplomatic relationships with Teotihuacan.”

The Chases will present their findings at a conference on Maya–Teotihuacan interaction hosted by the Maya Working Group at the Santa Fe Institute in New Mexico in August 2025.

UH professors Chase make Mayan Discovery UH archaeologists Arlen F. Chase and Diane Z. Chase Photo courtesy of University of Houston

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This story originally appeared on CultureMap.com.

Houston palliative care company integrates with Epic platforms

epic scale

Patients and medical teams using MyChart and other Epic Systems' software will now be able to access Houston-based Koda Health's AI-enhanced end-of-life planning platform.

The Houston-based palliative care company, which was born out of the TMC's Biodesign Fellowship, has integrated its advance care planning platform with Epic, one of the most widely used electronic health record (EHR) systems in the U.S., according to a news release.

Epic estimates that more than 325 million patients have a current electronic record in its systems.

“This is a significant milestone for our mission to make advance care planning scalable, meaningful, and seamless,” Tatiana Fofanova, CEO and co-founder of Koda Health, said in the release. “By integrating into systems already used by care teams, we help eliminate friction and ensure that care delivery honors what patients truly want—especially during serious illness and at the end of life.”

The partnership will streamline processes for both patients and clinicians. Users will be able to drop advance care plans directly into the Epic charts, which will be accessible through MyChart for patients and proxies and through Epic Hyperspace/Hyperdrive for care teams. Doctors can also initiate and manage advance care plans through a simple Epic order for patients.

According to Koda Health, its platform saves an average of $10,000 to $15,000 per patient. Roughly 85 percent of users complete advance care plan documents when using the platform, which is four times the national average.

“We developed Koda to give providers the time, training, and tools to guide these critical conversations," Dr. Desh Mohan, co-founder and chief medical officer at Koda Health, added in the statement. "Our integration now makes it possible to operationalize ACP at scale—aligned with value-based care goals and clinical reality.”

The company announced a partnership with Dallas-based Guidehealth, which integrates into primary care workflows and allows providers to identify high-risk patients, coordinate care and reduce administrative burden. Guidehealth works with more than 500,000 patients

Koda Health was founded in 2020 and closed an oversubscribed seed round for an undisclosed amount last year, with investments from AARP, Memorial Hermann Health System and the Texas Medical Center Venture Fund. The company also added Kidney Action Planning to its suite of services in 2024.

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