3 Houston innovators to know this week

who's who

This week's roundup of Houston innovators includes Nick Skytland of NASA, Neal Dikeman of Energy Transition Ventures, and Bill McKeon of TMC. Photos courtesy

Editor's note: In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries — from space tech to health care innovation — recently making headlines in Houston innovation.

Nick Skytland, chief technologist at NASA Johnson Space Center

Nick Skytland, chief technologist at NASA Johnson Space Center, joins the Houston Innovators Podcast. Photo via LinkedIn

For most people, it might be pretty hard to envision a future where astronauts are living on the moon or even Mars in the next few decades, but Nick Skytland, chief technologist at NASA Johnson Space Center, says he sees that future pretty clearly.

Since its inception in 1958, NASA has achieved many milestones, from the from putting the first man in orbit to having astronauts live in space for over 20 years consecutively. But it's a new era for NASA — and its commercial partners.

"What has changed in the past decade or so is that space flight is no longer just a government focus," Skytland says on the Houston Innovators Podcast. "We have an entire space industry that's growing and starting to thrive in the United States, and that's an important part of our strategy going forward." Read more.

Neal Dikeman, partner at Energy Transition Ventures

Houston-based energy tech investor Neal Dikeman writes his observations on Houston's venture capital and startup community's growth — in stark comparison of Silicon Valley's recent evolution. Photo via LinkedIn

In his guest column for InnovationMap, Neal Dikeman, a Houston-based energy transition investor, shares how Houston's innovation ecosystem differs from Silicon Valley these days. While deemed a newer ecosystem, there appears to be a growing amount of activity in and around the Ion, where Dikeman works out of. Meanwhile, Silicon Valley is pretty quiet.

"Founders are learning that Houston’s venture investment and tech scene has an actual home these days, and is open for business," he writes in the column. Read more.

Bill McKeon, CEO of the Texas Medical Center

Mayor Sylvester Turner, TMC CEO Bill McKeon, Governor Greg Abbott, and others gave their remarks at the TMC3 Collaborative Building opening. Photo via tmc.edu

For nearly a decade, thee Texas Medical Center and its partners have been working on the plans for Helix Park, a 37-acre campus expansion of TMC. As of this week, the first building has opened its doors to the public.

The TMC3 Collaborative Building officially opened today to a crowd of media, public officials, and health care executives. The institutional agnostic, 250,000-square-foot building will anchor Helix Park and house research initiatives from the four founding partners: Texas Medical Center, The University of Texas MD Anderson Cancer Center, Texas A&M University Health Science Center, and The University of Texas Health Science Center at Houston.

“Today, we lay the cornerstone of a new campus fully dedicated to streamlining the commercialization of life-changing innovations in medicine and technologies,” William McKeon, president and CEO of TMC, says at the event. “We are incredibly excited to both welcome our founding institutions and industry partners to the Collaborative Building and to invite the community to experience the Helix Park campus and its beautiful parks with a series of special events in the months ahead."Read more.

Mayor Sylvester Turner, TMC CEO Bill McKeon, Governor Greg Abbott, and others gave their remarks at the TMC3 Collaborative Building opening. Photo by Natalie Harms

Texas Medical Center opens first building in massive Helix Park project

tmc3

For nearly a decade, the Texas Medical Center and its partners have been working on the plans for Helix Park, a 37-acre campus expansion of TMC. As of this week, the first building has opened its doors to the public.

Established to be a place for academic institution collaboration, the building — designed by Boston-based Elkus Manfredi Architects — will have wet laboratories, office space, and event facilities. Two venture groups — Portal Innovations and the TMC Venture Fund — will also move into the building.

Each institution will bring in select programs and initiatives. MD Anderson will house two institutions within the new building, including the James P. Allison Institute focused on immunotherapy and the Institute for Data Science in Oncology.

"The future of life sciences in Houston is brighter than ever before as we come together to officially open the TMC3 Collaborative Building,” Dr. Peter WT Pisters, president of MD Anderson, says. “Our clinicians and scientists work daily to advance innovations in cancer research and care – all of which will be amplified in this new environment within Helix Park that further cultivates collaboration, connectivity, and creativity.”

UTHealth will move its Texas Therapeutics Institute into the facility.

“With a shared commitment to improving the health and well-being of individuals and communities, we are bringing together academics and industry to accelerate discovery and medical breakthroughs,” Dr. Giuseppe N. Colasurdo, president and Alkek-Williams Distinguished Chair at UTHealth Houston, says. “Through the Texas Therapeutics Institute — already a signature collaborative enterprise at UTHealth Houston — our world-renowned leaders in therapeutic antibody development will have the opportunity to work closely with other leading researchers in the Texas Medical Center, greatly enhancing our collective ability to translate discoveries and ideas into effective treatments.”

Texas A&M, which has worked with Houston Methodist to develop its engineering medical program, will operate its Texas A&M Health’s Institute of Biosciences and Technology in the new space.

“As we open this state-of-the-art facility, we’re opening the door to a new era of collaboration. This building signifies the dismantling of silos to deliver game-changing therapies for the toughest diseases impacting Texans and citizens worldwide,” said John Sharp, Chancellor of The Texas A&M University System. “Texas A&M Health’s Institute of Biosciences and Technology has long been a trailblazer in drug discovery, and now, in the heart of this resource-rich ecosystem of the Texas Medical Center, we’re taking it up a notch. By positioning our scientists near their peers and esteemed clinicians, we’re igniting a spark that will fuel innovation and forge dynamic research programs.”

The next aspect of Helix Park to deliver will be the Dynamic One, a 700,000-square-foot industry research facility. Several other buildings, including a hotel, residential tower, and mixed-use building, are expected to deliver over the next few years. The "spine" of the project is six linked green spaces, designed by landscape architect Mikyoung Kim, that form an 18.7-acre campus, which is shaped like a DNA helix, hence the project's name.

At the opening event, leaders discussed the annual impact of over $5.4 billion expected after the campus is completed, and the 23,000 permanent new jobs and 19,000 construction jobs anticipated from Helix Park.

"Texas truly is the home of innovation. Our energy innovations are legendary, as are our innovations in space," says Texas Governor Greg Abbott, naming several of the state's innovative accomplishments. "Long before all of this innovation we're seeing now, Texas was the home of the Texas Medical Center."

Mayor Sylvester Turner spoke to the importance of collaboration.

"Individually, you can do things very well. Collectively, you can be transformational," he says. "One thing about this city, collaboration is the key. When we play well together, and when we build an integrated, robust ecosystem, everyone wins. That's Houston, and that's the way we operate."

Meet the latest global health tech startups to get an invite to Houston from TMC Innovation. Photo via tmc.edu

TMC names latest cohort of health tech startups for upcoming bootcamp

headed to Houston

The Texas Medical Center's innovation arm has again invited a set of health tech startups to mix and mingle with potential partners, investors, and customers in hopes to score a place in the HealthTech Accelerator.

For the 17th time, the TMC Innovation Factory is hosting its HealthTech Accelerator — starting first with announcing its bootcamp cohort, a process that includes bringing all 10 companies to Houston for valuable networking. A selection of the bootcamp will be invited into the full accelerator that will run into next spring.

The 10 selected companies with solutions from heart failure to chronic respiratory disease and more, according to TMC, include:

Acorai, from Stockholm, Sweden, which is developing a first-of-its-kind, hand-held, scalable medical device for non-invasive intracardiac pressure monitoring to improve heart failure management for more than 64 million patients worldwide.
Singapore-based Aevice Health, a connected care platform powered by the world’s smallest smart wearable stethoscope to support chronic respiratory disease patients through their continuum of care.
AirSeal, based in St. Louis, Missouri, which has developed a novel serum-based biomarker technology – circulating fatty acid synthase (cFAS) – that can diagnose cardiovascular and peripheral artery disease with high accuracy in both women and men.
Candlelit Care, a Charlotte, North Carolina-based point-of-care digital platform focused on the prevention of perinatal mental and anxiety disorders (PMADs) among Black women and birthing parents.
San Francisco-based Knowtex, an artificial intelligence-powered software writes medical documentation for you and assigns correct codes to ensure proper reimbursement.
NeuroBell, from Cork, Ireland, which is working on a novel medical device providing portable EEG monitoring with real-time and automated neonatal seizure alerts at the bedside.
Perth, Australia-based OncoRes Medical that's developing an intraoperative imaging technology to provide surgeons with real-time assessment of tissue microstructure.
From right here in Houston, Steradian Technologies, which has created RUMI, the first noninvasive, fully portable infectious disease diagnostic that costs the price of a latte. It uses novel photon-based detection to collect and diagnose infectious diseases in breath within 30 seconds.
Foxo, headquartered in Brisbane, Australia, serves as an interoperable tool designed to enhance clinical collaboration across the healthcare ecosystem. It enables secure, two-way communication with features such as video, voice, screen share, file sharing, and real-time messaging.
Thrive Health’s, from Vancouver, Canada, is a platform is a low-code framework for designing and delivering patient engagement solutions. Create tools that enable partners to close healthcare gaps quickly, strengthen care relationships, and improve patient experience and outcomes.

TMC Innovation's last bootcamp cohort was announced in May. The organization also recently named 16 digital health and medical device startups from the United Kingdom to a new accelerator formed in partnership with Innovate UK.

Earlier this fall, TMC formed a strategic partnership, or BioBridge, with the Netherlands.

A TMC-based organization supporting innovation pediatric medical devices has secured a $7.4 million grant. Photo via tmc.edu

Pediatric device consortium led by Baylor, Texas Children's lands $7.4M FDA grant

SWPDC scores

The Southwest National Pediatric Device Innovation Consortium announced this month that it has received a $7.4 million grant from the Food and Drug Administration to continue developing innovative pediatric medical devices.

Led by Baylor College of Medicine and Texas Children’s Hospital, SWPDC supports the development and commercialization of devices relating to children's health, including synthetic pediatric heart valves, miniature injection devices and neonatal intensive care unit monitoring devices, according to a statement from Baylor.

According to Dr. Chester Koh, SWPDC executive director and principal investigator, who is also a professor of urology at Baylor and a pediatric urologist at Texas Children’s, physicians today often have to treat pediatric patients with devices that are designed for larger adult bodies.

"This grant allows us to continue to spur development of devices specifically designed for kids by providing funding, consulting, clinical expertise and other assistance, all of which is made possible by our co-existence in the healthcare innovation ecosystem of the Texas Medical Center,” he said in the statement.

The SWPDC received a similar five-year grant in 2018 from the FDA, and has since added 200 pediatric device projects in all stages of development to its portfolio, raising in total more than $200 million in follow-on funding for the technology. It's one of five consortia in the FDA’s Pediatric Device Consortia (PDC), with others in Pennsylvania, Washington D.C., the San Francisco Bay Area, and Los Angeles.

Regionally, the consortium members include engineers from Texas A&M University, Rice University, University of Houston and the University of Minnesota, as it looks to expand into the midwest. It also partners with Texas Medical Center Innovation, JLABS@TMC and Proxima CRO.

In addition to the $7.4 million grant, SWPDC also received funding for its real-world data/real-world evidence (RWD/RWE) demonstration projects that focus on postoperative cardiac care, according to BCM.

Earlier this summer, Houston-based medtech company CorInnova was one of five companies invited to invited to present pitches at the National Capital Consortium for Pediatric Device Innovation’s “Make Your Medical Device Pitch for Kids!” competition. The event takes place this month and the companies are competing for a share of $150,000 in grant funding from the FDA. CorInnova has developed a minimally invasive device for the treatment of congestive heart failure.

Early-stage cell therapy startup March Biosciences has partnered with CTMC. Photo via march.bio

Cancer-fighting startup partners with Houston cell therapy accelerator

marching on

When it came time to name their cell therapy startup, Houston life science innovators simply had to look to their calendar.

“I would argue that March is the best month in Houston,” Sarah Hein tells InnovationMap. “We started talking about putting this company together during COVID, so we were outside a lot. And we actually got together in March.”

That’s why the CEO and her co-founders Max Mamonkin and Malcolm Brenner decided to name their company March Biosciences.

It's a fresh, unstuffy name for a startup that has an innovative take on cancer immunotherapy. Their lead asset is an advanced cellular therapy known as MB-105, an autologous CD5 CAR T cell therapy. For patients with T-cell lymphoma and leukemia who have failed all currently available lines of therapy, the prognosis is understandably extremely poor. But in a phase one study, MB-105 has been proven to safely treat those patients. The phase two study is expected to begin in the first half of 2024.

Hein met Mamonkin at the TMC Accelerator for Cancer Therapeutics (ACT), at which the alumna of Resonant Therapeutics and Courier Therapeutics was an entrepreneur in residence.

“It's a perfect example of the opportunities here in Houston where you can go from bench to bedside, essentially, in the same institution. And Baylor has been particularly good at that because of the Center for Cell and Gene Therapy,” says Hein.

The serial entrepreneur first came to Houston as a PhD student in molecular and cellular biology at Baylor College of Medicine, but during her studies she became excited by the startup ecosystem in her new hometown. After earning her degree, she became a venture fellow at the Mercury Fund. Her experience in both science and business made her an ideal candidate to take March Biosciences to the next level.

In September, the company announced that it formed a strategic alliance with CTMC (Cell Therapy Manufacturing Center), a joint venture between MD Anderson Cancer Center and National Resilience.

“Our unique risk-sharing model allows us to collaborate with organizations like March Biosciences to accelerate the development and manufacture of innovative cell therapies, like MB-105, and bring them into the clinic with a consistent and scalable manufacturing process,” said CTMC’s CEO, Jason Bock in a press release.

The partnership “has allowed us to move really quickly,” Hein says.

That’s because what CTMC does uniquely well is take early stage companies like March Biosciences and advance them to a state that’s ready for manufacturing in a short time, around 18 months, says Hein.

According to Hein, March Biosciences’ success is a testament to Houston and its world-class medical center.

“It’s a great example of the opportunities you see here in Houston, where we have a technology that was developed by brilliant scientists here in Houston and we can pull together the resources that we need to take it to the next level,” Hein says. "Working with partners here in Houston, we have all the pieces and the community rises to the occasion to support you.”

The Texas Medical Center visited the Netherlands to secure a deal that creates a BioBridge to the country and Houston. Photo courtesy of TMC

TMC again expands global impact with new Netherlands partnership

breaking news

The Texas Medical Center may be based in Houston, but the organization has again grown its global impact.

Since 2016, TMC’s BioBridges have worked with 88 startup companies. Those include strategic alliances with four other countries. Australia, the United Kingdom, Denmark and Ireland are all among TMC’s BioBridges partners. As of today, add the Netherlands to that list.

On September 27, TMC president and CEO, William F. McKeon, and Carmen van Vilsteren, chair of Health~Holland, Top Sector Life Sciences & Health (LSH), signed an agreement in Rotterdam. The TMC Netherlands BioBridge Memorandum of Understanding codifies the innovative goals of the partnership. Essentially, the BioBridge program provides a means for entrepreneurs, researchers, clinicians and industry partners from other countries to access the US market, as well as TMC experts.

“The TMC Netherlands BioBridge represents an unparalleled opportunity for collaboration and growth,” Ashley McPhail, chief external affairs & administration officer at Texas Medical Center said in a press release. “The Netherlands has solidified its position as a global leader in the field of life sciences and health, with a thriving ecosystem of research institutions, innovative companies, and highly skilled professionals. This strategic partnership will bring positive benefits to patients, clinicians and industry partners on a global scale.”

This lifeline for international healthcare companies makes expansion into the United States far smoother. The Global Innovators Launch Pad allows for startup founders to take part in a 10-week residency at the TMC Innovation Factory that will teach them about foundational infrastructure, clinical evidence and funding in the US.

“Since Texas is an important hub for innovation in the MedTech and digital health sectors, the collaboration with Texas Medical Center creates opportunities for Dutch companies looking to expand their international reach. Vice versa, it gives companies in Texas access to the vibrant Dutch Life Sciences & Health sector,” said van Vilsteren.

That exchange includes members of the TMC gaining the opportunity to participate in the Health~Holland Visitors Programme (HVP), “Shaping the Healthcare of the Future.”

The annual event invites high-level representatives from the private sector, NGOs, knowledge institutions, healthcare providers and different tiers of government to share their expertise.

It's the fifth partnership of its kind for TMC, with the last one being with Ireland, announced last year. TMC's other global initiatives include accelerators with Denmark and the United Kingdom, both announced earlier this year.

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Houston expert: How to celebrate National Entrepreneurship Month by recruiting, retaining talent

guest column

As November marks National Entrepreneurship Month and Small Business Saturday awaits Nov. 25, it is the perfect time to acknowledge and celebrate the contributions of small businesses to the U.S. economy.

According to the U.S. Small Business Administration, small businesses with 500 or fewer employees have accounted for two thirds of employment growth in the past quarter century. Further research from the Small Business Administration shows Texas alone is home to 3.1 million small businesses, making up 99.8 percent of Texas businesses overall and 44.5 percent of Texas employees.

The numbers are particularly impressive considering the unique business challenges entrepreneurs and small businesses have faced. In a tight labor market, competition for talent remains fierce, and small businesses and startups especially must rely on recruiting strong candidates to generate results. Yet entrepreneurs are often passionately focused on their product or service, which can obscure the finer details of their people management strategy.

Fortunately, there is a way for entrepreneurs to succeed both as business and people leaders. By providing learning and development opportunities, competitive compensation plans and an exceptional workplace culture, they can create an engaged workforce that shares their vision that can be competitive and even win the fight for top talent.

Learning and development opportunities

Especially for a small business, ongoing professional learning and development (L&D) is essential for teams to stay competitive. A robust L&D program also expands the talent pool by creating the possibility of hiring promising candidates who need to acquire additional skills for the role. L&D opportunities can also improve retention. According to 2022 research from McKinsey, lack of career development and advancement opportunities is one of the biggest factors driving employee attrition.

Leaders should assess the needs of their teams to determine the most important areas for L&D. These areas should help employees to develop core competencies necessary for business success, such as teamwork, problem solving and leadership. Offering a variety of options is best practice so employees can develop a wide range of skills, as is leveraging learning opportunities that exist through the normal course of work, like job shadowing and cross training. Tapping into existing experience and knowledge via in-house talent is another resource that can help promote learning and development through mentoring and collaboration.

Compensation and benefits

Working at a small business or startup offers many benefits to professionals in search of a fast-paced environment. However, compensation remains a critical piece of the puzzle for entrepreneurs who want to recruit and retain top talent. A 2022 survey from LinkedIn revealed 89 percent of employees said salary range was the most helpful element in a job description when deciding whether to apply.

While businesses need not disclose their salary bands in a job application, except as required by law, competitive compensation is an important factor for successful recruitment. Small businesses should research the market rate for each position in their organization and conduct a pay audit to understand whether current employees are being compensated fairly. Organizations with positive results should consider mentioning “competitive compensation and benefits package” in job ads or on their website.

For leaders who discover their pay is noncompetitive in their industry, it may be time to reevaluate budgets and create a plan to align salaries with the market averages. Salary growth does not need to happen overnight but can be a part of the bigger picture of recruiting and retaining talent. Leaders can also communicate the total compensation when factoring in the overall value of employer contributions provided in addition to salary, including things like bonuses, paid benefits and 401k contributions, wellness perks, etc.

Organizational culture

Company culture is a foundational element to recruiting and retaining top-tier talent. Research from Gallup found employees who feel connected to their organization's culture are 55 percent less likely to watch for job openings or actively seek out a new role.

As many founders know well, tight-knit teams can work with greater agility than larger organizations. However, on a cultural level, small business and startups face unique culture challenges due to their size. Small organizations’ culture is heavily influenced by the behaviors of leaders, who are highly visible to their employees. When conflicts arise between two employees, the entire team may be drawn in. Employees can also feel under scrutiny if micromanagement is experienced in their workplace.

To build a strong culture, leaders need to have open conversations and gather feedback, including through anonymous survey data. On a small team, the anonymity of company culture surveys becomes even more critical. Employees may feel concerned that management will easily recognize their voice, so survey results should be handled with the utmost discretion and accessible only to essential personnel. When sharing results publicly, leaders should withhold any specific comments or responses in favor of broader statistics about the entire group or identified patterns in the feedback. It is important for leaders to focus on the learnings and awareness the feedback can offer, as opposed to spending time wondering or trying to identify who said what. Even well intended interest around the source of feedback can lead to feelings of breached trust or, in extreme cases, instances of retaliation.

Trust is an essential component, and these steps will help employees in a small business feel comfortable sharing their honest thoughts. Provided management provides open communication and acts on employee survey feedback, employees will also feel heard and that their employer truly cares for their wellbeing.

This month, entrepreneurs across the country should take a moment from their busy schedules to celebrate their successes. National Entrepreneurship Month is an opportunity to recognize the importance of small businesses to the economy. It is also a chance to strengthen small businesses and bolster their ability to compete for talent through building a robust culture and supporting employees.

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Karen Leal is performance specialist with Houston-based Insperity, a provider of human resources offering a suite of scalable HR solutions available in the marketplace.

Houston initiative receives $4M grant to promote biomedical entrepreneurship

fresh funding

The National Institute of Health has awarded a $4 million grant to a Houston-area initiative in the name of sparking biomedical activity.

The grant will create a new Research Evaluation and Commercialization Hub, known as REACH, in Houston. The team behind the Gulf Coast Consortium — one of the world’s largest inter-institutional cooperatives, which includes eight of Houston’s medical research leading lights — has been hard at work to bring REACH-GCC to fruition.

The result? A multidisciplinary means of promoting biomedical entrepreneurship, bringing innovators from concept to commercialization.

“I can tell you that a lot of those potential users came out of our research consortium. Those users span from a focus on mental health to antibiotic resistance to regenerative medicine to pain management to, of course, cancer,” says Suzanne Tomlinson of Rice University.

Tomlinson is the director of GCC research programs and worked with Stan Watowich of The University of Texas Medical Branch to create the grant. Peter Davies helped to submit it through Texas A&M University.

One of the dozen research and educational programs that Tomlinson directs is the Innovative Drug Discovery and Development Consortium.

“Within that, we have established a wide network of drug to drug discovery and development cores,” she says.

The vast majority of those are funded by CPRIT (Cancer Prevention and Research Institute of Texas), and Tomlinson and Watowich (the chair of IDDD’s steering committee) were lead developers and authors of the grant to create TMCi’s Accelerator for Cancer Therapeutics (ACT). That accelerator is a model for what GCC-REACH may do for taking other innovations from discovery to market.

“We get close to a billion dollars in research monies a year coming into the Medical Center. The question is, ‘Are we seeing a lot of those dollars resulting in products that benefit patients?’ And the answer always is, ‘We can do better,’” says Watowich.

How will GCC-REACH help to do that? By combining the forces of all eight full members of the GCC, plus outside help when it’s needed. Watowich sets for the example of a budding entrepreneur at his home institution, UTMB. That researcher could potentially receive guidance from an MD Anderson expert in immunotherapies or a Rice scientist who focuses on nanotechnology delivery systems.

“This grant is designed to put together a bespoke team of whatever is needed to have a discussion with and figure out what's the market for this technology. How might it get there?’” says Watowich.

Those options could include setting up a startup company, but could also mean licensing the idea to someone else, whether it’s a company or an institution.

“Our goal is, we help each other. We help ourselves. We help the patient population. And we do that through working together,” he continues.

Though it sounds like GCC-REACH could be a competitor to other accelerators, Watowich doesn’t see it that way. He sees the new hub as working with very early-stage creators who may still take part in those existing accelerators in the future. And the team hopes to do so quickly. The goal is to launch this month. Watowich says that the plan is to use the NIH’s $4 million to launch around 60 early stage biomedical companies over the next four years.

A variety of nascent founders — regardless of their type of innovative solution — will take part in the initiative.

“It can be a device, it could be an AI, it could be an app, it could be digital health, it could be therapeutics,” says Watowich. “We have experts across all of these areas that could help provide guidance and mentoring to try to move those companies forward.”

New report ranks Houston as the top city for foreign investment

by the numbers

For the second time, a report has analyzed the top markets in the United States for the rest of the world to do business in. This year, that top spot belongs to Houston.

The second annual FT-Nikkei Investing in America ranking, which came out this week from the Financial Times and international financial newspaper Nikkei, put the Bayou City — and six other Texas cities — at the top portion of the ranking. Houston's at No. 1, up four spots from last year, but Austin and four cities in the Dallas area also claim spots in the top 20.

The report looked at four dozen metrics, including workforce and talent, quality of life, openness, business environment, investment trends, and more.

In addition to the ranking, the Financial Times dove a little deeper into what made Houston a standout this year, interviewing many of Houston's most prominent business community members. The article points to the city's storied past as an oil and gas leader, also calling out its busy airports and global shipping ports, as well as its medical technology and aerospace industries. But one of the biggest factors in Houston's business climates success is its opportunity within the energy transition.

“We’re clear in Houston that if we’re going to continue to have prosperity — to the degree to define prosperity as job growth and wealth creation — it’s going to need to come from places other than the incumbent energy business,” Bobby Tudor, chief executive of Artemis Energy Partners, tells FT in the article.

Houston scored an overall 73 out of 100, and its scores across metrics in the report include:

Workforce and talent: 68/100
Openness: 80/100
Business environment: 64/100
Foreign business needs: 100/100
Quality of life: 47/100
Investment trends: 73/100
Aftercare: 69/100

Last year's top city was Miami, which ranks at No. 6 this year. Most of the top 10 cities in this year's report represent major gains on the ranking.This report falls in line with others in terms of noticing a change within the green economy in Houston. Earlier this year, personal finance website SmartAsset ranked the Houston metro area as the fifth best place in the U.S. for green jobs, which pay an average of 21 percent more than other jobs. The SmartAsset study found that 2.23 percent of workers in the Houston area hold down jobs classified as “green.”