Rising Houston health care tower secures $50M in donations

fresh funding

The tower, set for completion in 2026, will be the new home of the School of Medicine and the School of Health Professions. Rendering courtesy of SLAM Architecture

Houston’s Baylor College of Medicine has received more than $50 million in donations for construction of the Lillie and Roy Cullen Tower.

The tower, originally announced last year and set for completion in 2026, will be the new home of the School of Medicine and the School of Health Professions.

The new contributions are:

  • $25 million from The Brown Foundation.
  • $16 million from The DeBakey Medical Foundation, adding to $12 million that already was pledged.
  • $10 million from the Sarofim Foundation, matching a previous $10 million commitment from the late Fayez Sarofim.

“Thanks to tremendous support from the community, we have raised almost $150 million in philanthropy for the new state-of-the-art home for the School of Medicine and School of Health Professions. Cullen Tower isn’t just an investment in infrastructure, but an investment in the health and well-being of future generations,” Dr. Paul Klotman, president, CEO, and executive dean at the Baylor College of Medicine, says in a news release.

The 503,000-square-foot Lillie and Roy Cullen Tower is the first phase of Baylor’s planned Health Sciences Park, an 800,000-square-foot project that will combine medical education and research at a site next to Baylor Medicine and Baylor St. Luke’s Medical Center.

In recognition of The DeBakey Medical Foundation’s increased commitment to Cullen Tower and additional funding for the Michael E. DeBakey Department of Surgery, the Baylor College of Medicine will name the park the Michael E. DeBakey Health Sciences Park. It will encompass the new Cullen Tower, another research tower to be built in the future, a building that links the two towers, and the existing Jamail Specialty Care Center.

“The comprehensive scope of the park — combining spaces for education, research, and clinical care — is a fitting tribute to Dr. DeBakey’s contributions to Baylor and the field of health care. The Cullen Tower embodies his legacy of excellence, which will inspire further generations of Baylor students to strive for greatness while advancing medical knowledge and providing compassionate care to patients,” says Dr. H. David Short III, president of the DeBakey foundation.

When seven Houston Public Libraries were damaged during Hurricane Harvey, the library system rolled out its resources to the communities that needed it most. Photo courtesy of Houston Public Library Foundation

Innovative library on wheels brings tech lab and resources to Houston communities that need it most

rolling out

To those that think the Houston Public Library has a dearth of innovation, think again.

"If people don't think libraries are relevant, they just need to visit one," says Sally Swanson, executive director of the Houston Public Library Foundation. "The 21st century library really is a technology hub.

"The libraries here in Houston have been around over a hundred years, but regardless of what decade it was in, it has always kept up with the needs of the community, therefore it always has to be innovative."

In the aftermath of Hurricane Harvey, seven libraries across Houston were forced to close due to extreme flood damage. To mitigate the loss, the HPL decided to modernize its Mobile Express Unit, a custom-built technology lab and library on wheels designed to bring access to technology and programs to high-need neighborhoods.

"Even though the hurricane was two years ago, the damage in Houston was so extensive, that only one of those seven locations has reopened," says Swanson. "The other ones are still in need, so having the Mobile Express now will bridge that gap until the city is able to reconstruct or reopen those closed locations.

"Thanks to the renovated Mobile Express, we'll be able to go to community centers, to schools and to other events. Basically, we're bringing the library to the people."

With the help of The Brown Foundation Inc., John P. McGovern Foundation, The Powell Foundation, corporate partner Crown Castle and thousands of donations from generous Houstonians, the HPL will use the $325,000 vehicle outfitted with advanced programmatic features to expand services to a growing waiting list of neighborhoods in need.

"We couldn't have done this without the generosity of the Houston community," says Swanson. "The vehicle itself was $325,000 and there was another $30,000 added in for technology. I would really like to thank our significant donors that made this vehicle possible. Thanks to that outpouring of support, this is now our reality."

The Mobile Express Unit, which will begin venturing out and serving the community in early February, has three touchscreen monitors, one desktop tower, 12 student Apple MacBook laptops and 10 iPads in a training room, eight tech lab workstations and a 3D printer.

"Even though we've had the public debut, it hasn't started accepting appointments yet," says Swanson. "The Mobile Express is operated through the Houston Public Library's Community Engagement division. They will have the online schedule and they have a driver and a program team that will go out and bring activities to people. The beauty of this is that it's free to the public."

As a fun way to get the word out, the HPL is sponsoring a contest for kids to name the Mobile Express Unit's robot mascot. Kids that enter the vehicle will be able to use the mascot to learn robotics and whoever wins the naming contest will receive that same robot, with five runners up receiving five slightly smaller versions of the robot.

"The beauty of the Mobile Express is its versatility," says Swanson. "There is a need for getting kids engaged in STEM activities and while some kids are very computer proficient, there are others that don't have access to the equipment. There will be learning at every stage and kids will be able to go on the vehicle, experiment with the different platforms and be part of the technology.

"There will be computer classes, coding classes and 3D printing workshops, so anyone, no matter their level of skills will be able to go on and actually have a real positive hands-on experience."

The Mobile Express, which can serve up to 24 participants or expand its interior walls to accommodate more, has an outdoor flat screen for dance sessions or for showing the instruction that is being held on the inside.

With its improved classroom flow and comfortable and engaging environment, the Mobile Express is able to offer English as a Second Language classes, workforce development classes, sewing workshops and pop-up library activities.

The mobile library and technology lab on wheels has no restrictions on its service area, so it can go into every neighborhood and corner of Houston and serve the public where it is needed the most.

"Every stop the Mobile Express makes is a continued investment into the Houston community," says Swanson. "A lot of people take for granted that everyone has equal access to online resources, but there's a lot of families that are having trouble making ends meet and they don't have internet in their home.

"The Houston Public Library has always been really good about finding creative and innovative ways of bringing services to the community."

For those that can't wait to make an appointment with the Mobile Express, there's always the neighborhood brick-and-mortar library.

"I welcome everyone in Houston to just go visit their local library," says Swanson. "They will be very surprised when they walk in and they see how many people are there reading or on computer terminals. They'll also be surprised by the library's focus on technology."

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Rice Alliance names Houston healthtech exec as first head of platform

new hire

The Rice Alliance for Technology and Entrepreneurship has named its first head of platform.

Houston entrepreneur Laura Neder stepped into the newly created role last month, according to an email from Rice Alliance. Neder will focus on building and growing Houston’s Venture Advantage Platform.

The emerging platform, which is being promoted by Rice Alliance and the Ion, aims to connect founders with the "people, capital and expertise they need to scale."

"I’ve spent a lot of time thinking about what it takes to make an innovation ecosystem more navigable, more connected, and more useful for founders," Neder said in a LinkedIn post. "I’m grateful for the opportunity to do that work at Rice Alliance, alongside a team with a long history of supporting entrepreneurship and innovation."

"Houston has the talent, institutions, and industry base to create real advantage for founders," she added. "I’m looking forward to listening, learning, and building stronger pathways across the ecosystem."

Neder most recently served as CEO of Houston-based Careset, where she helped bring the Medicare data startup to commercialization. Prior to that, Neder served as COO of Houston-based telemedicine startup 2nd.MD, which was acquired for $460 million by Accolade in 2021.

"Laura brings a rare combination of founder empathy, operational experience and ecosystem leadership," Rice Alliance shared.

Neder and Rice Alliance also shared that the organization is hiring developers to design the new Venture Advantage Platform. Learn more here.

Elon Musk's SpaceX files initial paperwork to sell shares to the public

Incoming IPO

Elon Musk's space exploration company has filed preliminary paperwork to sell shares to the public, according to two sources familiar with the filing, a blockbuster offering that would likely rank as the biggest ever and could make its founder the world's first trillionaire.

A SpaceX IPO promises to be one of the biggest Wall Street events of the year, with several investment banks lining up to help raise tens of billions to fund Musk's ambitions to set up a base on the moon, put datacenters the size of several football fields in orbit and possibly one day send a man to Mars.

The sources spoke on condition of anonymity because they were not authorized to talk publicly about the confidential registration with the Securities and Exchange Commission.

SpaceX did not respond immediately to a request for comment.

Exactly how much SpaceX plans to raise has not been disclosed but the figure is reportedly as much as $75 billion. At that level, the offering would easily eclipse the $29 billion that Saudi Aramco raised in its IPO in 2019.

The offering, coming possibly in June, could value all the shares of SpaceX at $1.5 trillion, nearly double what the company was valued in December when some minority owners sold their stakes, according to research firm Pitchbook, before an acquisition that increased its size.

Musk owns 42% of the SpaceX now, according to Pitchbook, though that figure will change with the IPO when new owners are issued shares. In any case, he is likely to pierce the trillion dollar mark because he is already close. Forbes magazine estimates Musk's net worth at roughly $823 billion.

In addition to making reusable rockets to hurl astronauts and hardware into orbit, SpaceX owns Starlink, the world’s largest satellite communications company. The company also recently brought under its roof two other Musk businesses, social media platform X, formerly Twitter, and artificial intelligence business, xAI, in a controversial transaction because both the seller and the buyer were controlled by him.

SpaceX has become the biggest commercial launch company in its industry, responsible for sending payloads into orbit for customers across the globe, but has also benefited from big taxpayer spending. That has raised conflicts of interest issues given that Musk was the biggest donor to President Donald Trump's campaign and is still a big backer.

In the past five years, SpaceX won $6 billion in contracts from NASA, the Defense Department and other U.S. government agencies, according to USAspending.gov.

Among current SpaceX owners is Donald Trump Jr, the president's oldest son. He owns a shares through 1789 Capital. That venture capital firm made him a partner shortly after his father won the presidency for a second time and has been buying up federal contractors seeking to win taxpayer money ever since.

The White House and Trump himself have repeatedly denied there are any conflicts of interest between his role as president and his family's businesses.

8+ can't-miss Houston business and innovation events in April

where to be

Editor’s note: Houston's weeklong innovation festival kicks off April, followed by Rice University's globally recognized pitch competition returning for its 26th year. Plus, find coworking pop-ups, industry meetups, pitch battles and even a crawfish boil on the calendar. Here’s what not to miss and how to register. Please note: this article might be updated to add more events.

March 30-April 4 — H-Town Roundup

Celebrate innovation, entrepreneurship and collaboration at Houston Exponential's sixth-annual H-Town Roundup. During the free event series, previously known as Houston Tech Rodeo, attendees can expect insightful talks, workshops and networking events at venues across the city.

This event began March 30. Register here.

April 2 — Industrious Coworking Day

Enjoy a complimentary day of cowering at Industrious and network with professionals at the Ion. Breakfast, snacks, wifi and workspace tours are included. Following the cowering day, Industrious will host happy hour at Second Draught from 4-6 p.m.

This event is Thursday, April 2, from 8:30 a.m.-5 p.m. at the Ion. Register here.

April 2 — Technology Summit for Women

The fourth annual Women in Tech Cummil will feature speakers across three core tracks: Transformation + Digital strategy, Cyber + Risk + Resilience, and AI in Practice. Pearl Chu, director of technical domains and university relations at SLB, will give the opening remarks. Other panelists come from CenterPoint Energy, BP, Technip Energies and other leading companies.

This event is Thursday, April 2, from 2-5 p.m. at the Ion. Register here.

April 8 — Veterans Business Battle

Hear pitches from veterans and entrepreneurs as they compete for more than $10 million in investments at Rice Businesses' 12th annual Veterans Business Battle. This year, the two-day event will also feature a Small Business Expo, which invites Houston-based, veteran-owned businesses to participate in education, networking and the opportunity to showcase their business. Moonshots Capital and Mercury Fund will also host a fireside chat.

This event begins Wednesday, April 8, at 11 a.m. at the Ion. Click here to register.

April 9-11 — Rice Business Plan Competition

The Rice Alliance for Technology and Entrepreneurship will host the 26th annual Rice Business Plan Competition this month. Forty-two student-led teams from around the world, including one team from Rice, will present their plans before more than 300 angel, venture capital, and corporate investors to compete for more than $1 million in prizes.

This event begins Thursday, April 9. Find more information here.

April 10 — BioHouston Chili Cookoff

Connect with Houston's life sciences community at BioHouston's 21st annual chili cookout. This event is geared toward startup founders, researchers and industry veterans alike.

This event is Friday, April 10, from noon-4 p.m. at Bayou City Event Center. Register here.

April 14 — Mercury Fund Day at the Ion: Agentic Commerce

Don’t miss the latest installment of Mercury Fund Day at the Ion, previously known as Software Day. The recurring monthly event features office hours (by application), a keynote and networking opportunities. This month's topic focuses on agentic commerce.

This event is Tuesday, April 14, from 3:30-7 p.m. at the Ion. Register here.

April 19 – UH Energy Industry Crawfish Boil

Head to the UH Cullen College of Engineering Green Space for the 35th annual UH Energy Industry Crawfish Boil. The event will include a student showcase, STEM activities, a kids zone, live music, networking and, of course, crawfish. Proceeds from the event will support the multidisciplinary capstone fund that aims to increase professional readiness for Cullen College engineering and technology students.

This event is Sunday, April 19, from 1-5 p.m. at the Cullen College of Engineering Green Space. Find more information here.

April 24 — Rice Business Healthcare Conference

Leading experts, innovators and the next generation of healthcare leaders will converge at the Rice Business Healthcare Conference. Hosted by the Rice Business Healthcare Association, the conference will explore AI's potential impact on the sector.

This event is Friday, April 24, from 8 a.m.-2 p.m. at McNair Hall on Rice University's campus. Find more information here.

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