New innovation ‘vertical village’ announced for downtown Houston

Coming soon

The Downtown Launch Pad will house accelerator programs MassChallenge and gener8tor and coworking space from The Cannon. Photo courtesy of Downtown Launch Pa

The Cannon Houston, a startup incubator and coworking space, and Houston-based Amegy Bank announced a partnership to create a 17,000-square-foot innovation space in downtown.

The Downtown Launch Pad is expected to open on a few floors of the Amegy Bank building at 1801 Main St. in the spring. Along with coworking space, the new hub will house MassChallenge Texas, which had its inaugural cohort earlier this year, and gener8tor, an early acceleration program announced in last month.

Mayor Sylvester Turner announced the project at Central Houston Inc.'s annual meeting on October 24. Both the accelerators that will be in the new hub received a combined combined $4 million in economic development grants from the Downtown Redevelopment Authority to be distributed over the next five years.

"Central Houston and the Downtown Redevelopment Authority are committed to establishing Downtown Houston as a nexus for innovation and a leader in urban entrepreneurship," says Bob Eury, president of both entities, in a news release. "We've found strong, strategic partners in Amegy Bank and The Cannon, both of which are committed to fostering and sustaining a vibrant innovation culture in Houston, from startup to production."

Amegy Bank has tapped Gensler for the redesign. The 13th floor of the building will house the coworking space powered by The Cannon. This space is expected to open before the end of the year.

"We originally created The Cannon to be the missing piece in Houston's startup ecosystem," says Lawson Gow, founder and CEO of The Cannon and Cannon Ventures. Gow is the son of David Gow, owner of InnovationMap's parent company, Gow Media. "Through the Cannon Tower and The Downtown Launch Pad, we are excited to join up with Central Houston, the Downtown Redevelopment Authority and Amegy Bank to create an entire 'vertical village' of innovation—a system of floors at Amegy on Main that will provide Houston's entrepreneurs with all the programs and resources they need to thrive."

The building's 10th and 11th floors will also be a part of the Downtown Launch Pad. The 10th floor will house the two accelerators, and the 11th floor will be a dedicated event space. The lobby of the building will be a common space for all members of the Cannon Tower and will have meeting rooms, a game room, work stations, a coffee bar, and a deli.

"Amegy Bank has a long history of reinvesting in the local community and supporting Texas families and businesses," says Kelly Foreman, senior vice president and corporate real estate and facilities manager for Amegy. "Now, through our partnerships with The Cannon and The Launch Pad, we are taking our commitment to small businesses to the next level by converting a part of Amegy on Main into a hub for emerging technology and start-up companies that aligns all the players across the entrepreneurial spectrum—corporations, mentors, investors, service providers and the startups themselves. This combination of offerings and capabilities will unlock significant value for Downtown, helping to attract and retain companies from not only Houston, but from around the country."

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Houston quantum energy chip startup emerges from stealth with $12M round

seed funding

Houston-based Casimir has emerged from stealth with a $12 million seed round to commercialize its quantum energy chip.

The round was led by Austin-based Scout Ventures. Lavrock Ventures, Cottonwood Technology, Capital Factory, American Deep Tech, and Tim Draper of Draper Associates also participated in the round. The oversubscribed round exceeded the company’s original $8 million target, according to a news release.

Casimir’s semiconductor chips can generate power from quantum vacuum fields without the need for batteries or charging. The company plans to commercialize its first-generation MicroSparc chip by 2028.

The MicroSparc chip measures 5 millimeters by 5 millimeters and is designed to produce 1.5 volts at 25 microamps, comparable to a small rechargeable battery, without degradation and no replacement cycle.

“Casimir represents exactly the kind of breakthrough dual-use technology Scout Ventures was built to back,” Brad Harrison, founder and managing partner at Scout Ventures, said in the release. “This is based on 100 years of science and we’re finally approaching a commercial product … We’re proud to lead this round and support Casimir’s journey from applied science to deployed technology.”

Casimir says it aims to scale its technology across the ”full power spectrum,” including large-scale energy systems that can power homes, commercial infrastructures and electric vehicles.

Casimir's scientific work has been supported by DARPA-funded nanofabrication research and its technology was incubated at the Limitless Space Institute (LSI). LSI is a nonprofit that works to innovate interstellar travel and was founded by Kam Ghaffarian. Technology investor and serial entrepreneur Ghaffarian has been behind companies like X-energy, Intuitive Machines, Axiom Space and Quantum Space.

Harold “Sonny” White, founder and CEO of Casimir, believes the technology can power devices for years without replacements.

“Millions of devices will operate for years without a battery ever needing to be replaced or recharged because we have engineered a customized Casimir cavity into hardware capable of producing persistent electrical power,” White added in the release. “I spent nearly two decades at NASA studying how we power humanity’s future. That work led me to the Casimir effect and the quantum vacuum, where new tools have allowed us to build on a century of scientific knowledge and bring abundant power to the world.”

Houston leads the way in innovative brain research and more news to know

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Editor's note: The top Houston innovation news for the first half of May includes an initial round of brain research grants from Rice and FDA approval for clinical trial of a Houston startup's brain implant. Below are the five most-read InnovationMap stories published May 1-14, 2026:

1. Rice Brain Institute awards seed grants for dementia, Alzheimer’s research

The recently established Rice Brain Institute awarded 12 seed grants last month to support research on dementia, Alzheimer’s disease, Parkinson’s disease and other neurological disorders. The grants are part of the Rice DPRIT Seed Grant Program, which aims to help faculty members generate preliminary data, test and teams that would be supported under the Dementia Prevention and Research Institute of Texas. Continue reading.

2. Houston startup’s brain implant for depression advances to clinical trial

Houston-based Motif Neurotech has received FDA approval to move forward with its first clinical trial for its innovative way to fight treatment-resistant depression and other mental health disorders. The company has developed a brain-computer interface technology based on research from Rice University. The blueberry-sized, wirelessly powered implantable device known as the Digitally-programmable Over-brain Therapeutic (DOT) stimulator delivers electrical stimulation to brain circuits linked to depression. The DOT stimulator sits in the skull above the dura without touching the brain and is considered an alternative to transcranial magnetic stimulation, which requires multiple treatment sessions and can cause headaches. Continue reading.

3. Houston legacy planning platform secures $2.5M investment, adds to board

Houston-based Paige, a comprehensive life planning and succession software company, has secured a $2.5 million investment to expand the AI-driven tools on its platform. The funding comes from Alabama-based 22nd State Banking Company, according to a news release. Paige says it will use the funding to expand automation, AI-driven onboarding and self-service tools, as well as add to its sales and customer success teams. Continue reading.

4. 7+ can't-miss Houston business and innovation events in May

Houston is living up to its nicknames as Space City and the Energy Capital of the World this month with a lineup of insightful talks, pitch days and industry conferences. Plus, there are opportunities to network over crawfish, learn about brain health and more. Continue reading.

5. Houston rises in 2026 ranking of best U.S. cities to start a business

Houston has reaffirmed its commitment to a business-friendly environment and now ranks as the 26th best large U.S. city for starting a business in 2026. The city jumped up eight places after ranking 34th last year. Continue reading.

Houston-based Fervo Energy bumps up IPO target to $1.82 billion

IPO update

Houston-based geothermal power company Fervo Energy is now eyeing an IPO that would raise $1.75 billion to $1.82 billion, up from the previous target of $1.33 billion.

In paperwork filed Monday, May 11 with the U.S. Securities and Exchange Commission, Fervo says it plans to sell 70 million shares of Class A common stock at $25 to $26 per share.

In addition, Fervo expects to grant underwriters 30-day options to buy up to 8.33 million additional shares of Class A common stock. This could raise nearly $200 million.

When it announced the IPO on May 4, Fervo aimed to sell 55.56 million shares at $21 to $24 per share, which would have raised $1.17 billion to $1.33 billion. The initial valuation target was $6.5 billion.

A date for the IPO hasn’t been scheduled. Fervo’s stock will be listed on Nasdaq under the ticker symbol FRVO.

Fervo, founded in 2017, has attracted about $1.5 billion in funding from investors such as Bill Gates-founded Breakthrough Energy Ventures, Google, Mitsubishi Heavy Industries, Devon Energy (which is moving its headquarters to Houston), Tesla co-founder JB Straubel, CalSTRS, Liberty Mutual Investments, AllianceBernstein, JPMorgan, Bank of America and Sumitomo Mitsui Trust Bank.

Fervo’s marquee project is Cape Station in Beaver County, Utah, the world’s largest EGS (enhanced geothermal system) project. The first phase will deliver 100 megawatts of baseload clean power, with the second phase adding another 400 megawatts. The site can accommodate 2 gigawatts of geothermal energy. Fervo holds more than 595,000 leased acres for potential expansion.

Cape Station has secured power purchase agreements for the entire 500-megawatt capacity. Customers include Houston-based Shell Energy North America and Southern California Edison.

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

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