Houston innovator shares investment opportunities outside traditional VC model

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Angel investors, corporate venture, and more options for Houston startups outside of the traditional venture capital model.

In my last column about tapping into Houston's venture capital ecosystem, I identified the 31 venture capitalists in Houston. By most measures Houston is around 0.5 to 1 percent of US venture capital activity, and that low volume is reflected in the limited number of venture capitalists locally.

But outside of venture capital funds, founders often pull money from other places including angel investors, seed funds and corporate venture capital arms as well as cross-over investors. I got asked this morning by a founder at the Ion, where’s the rest of the list?

Houston has five active corporate venture capital funds, or CVCs, with at least one senior investment professional in Houston with and one with headquarters here (Chevron). A short list of the key investment professionals in the group includes:

There are maybe half a dozen other corporates In Houston that organize around a fund structure and governance of some type, and have been actively investing in venture capital rounds with professionals in Houston. Equinor, a long time corporate investor, Baker Hughes which relaunched a CVC effort in 2021, Mitsubishi has investment professionals in Houston, and Williams which launched a new CVC effort in 2022, as well as Occidental, BHP, and Waste Management which had active CVC efforts in the past that have gone a bit on ice, as did ConocoPhillips, P66 and Schlumberger. Two larger private equity funds Ara Partners and Quantum are active in venture capital deals, but in a more mixed model. This universe would probably add another 30 to 40 Houston based active investment professionals.

The city also has around 10 angel networks, pre-seed funds, pre-seed investors, and accelerators that write checks, typically in the $100K to $1 million range, but either without committed venture funds in an acceleration model, at varying degrees of active, scale, model, and type.

Layering them in no particular order the Houston universe expands by another dozen full time or mostly full time professionals, and a few dozen angels. I’ve included their main contacts below:

These are certainly not large numbers for a city our size, and commensurate with the size of the Houston startup market. But while the cupboard may be a bit bare, it’s not empty. As a founder chasing money, that’s about 75 to 100 names to go chase, with probably double that in active or semi-active angel investors investing through these pools.

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Neal Dikeman is a venture capitalist and seven-time startup co-founder investing out of Energy Transition Ventures.

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From a new hard tech grant opportunity to apply for to health tech innovation expansion, here's your latest roundup of Houston startup and innovation news you may have missed. Photo via Getty Images

Houston startup expands nationally, teams win DOE prize, and more local innovation news

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As Houston ramps up for fall, the city's innovation news has followed suit, and there might be some headlines you may have missed.

In this roundup of short stories within Houston startups and tech, Houston angel investors dole out prize money, the DOE grants Houston innovators some cash, a digital health company expands, and more.

2 Houston teams win DOE geothermal manufacturing prize

Both of the teams that won this competition hailed from Houston. Image via energy.gov

This week, the U.S. Department of Energy announced that two Houston-based companies have won the American-Made Geothermal Manufacturing Prize — a $4.65 million competition to incentivize innovators to use 3D printing, or additive manufacturing, to address the challenges associated with operating sensitive equipment in harsh geothermal environments, per a press release. The competition challenged participants with quickly developing, testing, and revising prototypes using additive manufacturing to support the advancement of geothermal tools and technologies.

“This DOE competition harnesses breakthroughs in additive manufacturing to help overcome barriers to widespread deployment of geothermal energy,” says Alejandro Moreno, deputy assistant secretary for renewable power, in the release. “The rapid prototype development supported by this prize is spurring advancements in the geothermal industry to help power the nation from the heat beneath our feet.”

The competition launched in January 2020, and the finalists presented their innovations at the annual Geothermal Rising conference in Reno, Nevada. The winning teams each were awarded $500,000 in cash and up to $200,000 to test their innovations in the field. The two Houston-based winning teams were:

  • Team Downhole Emerging Technologies: "This team developed an alternative to traditional packer systems," the release states. "The all-metal, retrievable packer system is designed specifically for high temperatures, extreme pressures, and corrosion experienced in geothermal wells. The Downhole Emerging Technologies’ partnership resulted in the production of the largest Inconel additively manufactured component by Proto Labs, Inc. and the development of DET’s tool, the Diamond ETIP (Extreme Temperature Isolation Packer).”
  • Team Ultra-High Temperature Logging Tool: "This team developed a technology that uses a labyrinthian heat sink to reduce thermal emissivity and increase the exposure time of temperature sensitive electronic components," according to the release. "Oak Ridge National Laboratory used a powder bed laser fusion technique to manufacture the heat sink design, with the aim that the technology would solve limitations around maximum temperature rating and lifetime of electronics in logging and measurement tools. The team also worked closely with Sandia National Laboratories to test the logging prototype in a high-temperature setting."

Koda Health expands across the country

Koda Health has gone nationwide. Image via kodahealthcare.com

Houston-based Koda Health has announced via LinkedIn that it has expanded into a handful of new states recently: Florida, Oregon, North Carolina, Virginia, California, and Maryland. These six expansions have all been announced over the past month following the announcement in July that the company is going nationwide.

"Every state has different regulations and requirements for their advancecare planning documents. So, the folks at Nixon Gwilt Law and Koda Health have been hard at work making our platform compliant in every single state," the company announced in a post. "It's hard work, but we're committed to helping patients stay in control of their health care journey, regardless of where they call home."

Koda Health was born out of the TMC's Biodesign Fellowship and launched by Tatiana Fofanova, Dr. Desh Mohan, and Katelin Cherry in March of 2020. The platform uses AI to help patients create advanced medical care directives and documents, such as a living will, through its proprietary machine learning approach.

In February, Koda closed over $3 million in seed funding in order to grow its staff and support expansion. Now, including Texas, Koda is in seven states across the country.

Houston angels dole out cash to RBPC winner

Hoth Intelligence — a digital health startup — is cashing in on its RBPC prizes. Photo via Getty Images

The Houston Angel Network announced its investment of over $160,000 in Hoth Intelligence, the winner of HAN’s prize at the 2022 Rice Business Plan Competition.

“Following the HAN award announcement at the RBPC banquet, we learned that the Houston Chapter of The Indus investor Entrepreneurs (TiE) was also interested in Hoth as an investment for its members," says HAN Chairman Richard Hunter in a news release.

The organizations collaborated on due diligence and negotiation of the investment terms. Hunter led HAN's due diligence and Jeff Tomlinson led the effort on behalf of TiE.

The company, which was established at University of Pittsburgh, has developed an artificial intelligence platform for health care providers. The company's RBPC prize initially totaled $386,700 in investment awards from a handful of entities.

Per HAN's news release, Houston investment firms Prosalus Capital Partners joined in with a $300,000 investment and PiFei VC contributed an additional $100,000.”

“Several companies at the 2022 RPBC, including Hoth Intelligence, ranked very high in the TiE judging," says TiE Houston Chapter President Ram Shenoy. "We therefore decided to pursue due diligence and were very pleased to have worked with HAN to expeditiously complete the deal. To date, it has attracted TiE investors from chapters in Atlanta, Silicon Valley, and Southern California who have committed over $154,000 in investment.”

Sustainable biz tapped for prestigious program

This Houston entrepreneur is getting ready to pitch. Image courtesy

Houston-based Trendy Seconds was chosen as part of the SOCAP Global Entrepreneur 2022 Cohort — a prestigious event in the social entrepreneurship world that grants scholarships to entrepreneurs from all over the globe.

Trendy Seconds is an online marketplace where women can find pre-owned clothing or shop for new clothing from sustainable brands. The company shares items from more than 50 brands that can be searched by category, style, size, price, condition, and positive impact. To ensure the clothing is high quality, shoppers will find only gently-used or new items featured on Trendy Seconds.

Through the program, Founder Maria Burgos will pitch live in San Francisco on October 20.

Deadline approaches for Activate Anywhere

Calling all scientists on a mission. Image via Getty Images

A global accelerator billed as "for scientists on a mission" has opened its latest round of registration. Activate Anywhere is a remote-based program for hard tech innovators that takes no equity, requires no fees, and provides significant financial support, including a living stipend of up to $110,000 a year, $100,000 in R&D funding, $100,000 additional flexible capital, health care coverage, travel allowance, and more.

Applications September 15, but registration to apply is free and open now. The deadline to apply is October 31 and finalists will be announced in February.

To be eligible for the program, you must:

  • have a bachelor’s degree and at least four years post-baccalaureate scientific research, engineering, or technology development experience.
  • be the leader of a technical project or company that is relevant to our target industries and is based in the physical or biological sciences, or related engineering disciplines.
  • be leading the commercial development of a hardware-based technology innovation for the first time i.e. not a repeat hard-tech founder. You may apply as a solo applicant or with one co-applicant.
  • not have raised more than $2 million in debt or equity funding from non-governmental sources for the proposed project at the time of the application deadline.
  • be able to work in the U.S. for the duration of the fellowship, and have access to a qualified host laboratory.

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Houston researchers develop breakthrough device that could bypass spinal injuries

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Scientists at Houston Methodist have announced a significant leap forward for spinal cord injury recovery.

The researchers have developed a device that essentially bypasses spinal injuries, allowing signals from previously “lost” functions to reach the brain, a new study published in Nature Communications shows.

“Most current technologies try to improve whatever function remains after a spinal cord injury,” Dr. Damiano Barone, assistant professor of neurosurgery in the Department of Neurosurgery at Houston Methodist and co-lead on the study, said in a news release. “Our goal is different. Rather than fixing the injury itself, we want to bypass it completely and create an alternative route for signals to travel.”

The study involved a single ultrathin circumferential electrode array made to conform around the spinal cord without penetrating neural tissue, which was implanted into rodent and pig models with spinal injuries. The electrode array was able to interpret motor, sensory and autonomic signals around the injury. Think of it as a set of detours that restore road access to isolated towns after a disaster destroys the highway instead of just rebuilding the highway.

Over the course of three days, the arrays detected signals of intended movement from low-frequency spinal oscillations with more than 94 percent accuracy. This worked across species and was replicated in feasibility studies on human cadavers.

This research could serve as a new foundation for neuroprosthetic implants that could restore connectivity to the 2.5 million people worldwide suffering from spinal injuries that result in loss of ability. Future development could result in everything from restored organ function to mobility, according to Houston Methodist.

George Malliaras, the Prince Professor of Technology in the Department of Engineering at the University of Cambridge, who co-led the study, sees it as a fundamental restructuring of the science of spinal trauma.

“This could represent a paradigm change in how we think about spinal cord injuries,” Malliaras said. “Instead of starting from the idea that what is lost is gone forever, this approach asks whether we can restore function by carrying the signal around the injury.”

Further work involving laboratory models will need to be completed before launching human trials.

Grants from the National Institutes of Health, Houston Methodist Katz Investigator Award, Helaers Research Award and the Engineering and Physical Sciences Research Council helped support the study. Other collaborators on the study include Salim Hadwe, Ruben Serrano, George Psaltakis, Margaux Forner, Chaeyeon Lee, Sydney Swedick, Moleca Ghnnam, Tawfique Hasan and Alejandro Carnicer-Lombarte from the University of Cambridge; and Anton Banta and Xueer Zhang from Houston Methodist.

Abbott assembles expert team to help lure U.S. Space Academy to Texas

space race

State Rep. Greg Bonnen of Friendswood has been tapped to lead a new team that will promote Texas as the future home of the U.S. Space Academy.

Bonnen, a neurosurgeon, chairs Houston Physicians’ Hospital and the powerful Texas House Appropriations Committee. His House district is close to NASA’s Johnson Space Center.

Gov. Greg Abbott appointed the seven-member team. Last month, President Trump signed an executive order establishing the Presidential Commission on the U.S. Space Academy. Commission members, who held their first meeting this month, will recommend a permanent location for the academy.

Texas officials are pushing a site near Johnson Space Center to host the academy. Alabama, Colorado and Florida are among Texas’ competitors.

In a joint statement, U.S. Sen. Ted Cruz and U.S. Rep. Brian Babin, both of Texas, issued a statement backing the state’s bid for the academy. Cruz lives in Houston. Babbin lives in Woodville, about 55 miles south of Beaumont.

“America’s space program is built across the country, but Texas is where the pieces come together,” the lawmakers said. “We are ready to lead the next generation of space pioneers and look forward to showing why Texas is the right home for the U.S. Space Academy.”

The academy’s curriculum will include technical education, leadership development and public service components. Graduates will be set up for careers in the U.S. military, civil service, and aerospace sectors.

The Abbott-appointed team will work with the Texas Space Commission to prepare the state’s proposal for the academy.

In addition to Bonnen, team members with ties to Houston include:

  • Robert Ambrose, who grew up in Houston. He worked at Johnson Space Center before becoming associate director of the Texas A&M Space Institute.
  • Former NASA astronaut Nancy Curry-Gregg, director of the Texas A&M Space Institute. She earned a doctoral degree from the University of Houston and previously worked at Johnson Space Center.
  • Former NASA astronaut Jack Fischer, senior vice president of Houston-based Intuitive Machines. The company builds spacecraft, delivers payloads to the moon and launches satellites.

“Texas is the home of America’s human spaceflight program,” Abbott said in a release. “No state can match what Texas brings to this mission.”

“NASA’s Johnson Space Center, world-class universities, a premier commercial space industry, major military installations, and an unmatched aerospace workforce give Texas every asset the United States Space Academy requires,” the governor added.

Houston university named No. 10 in nation and more top innovation news

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Editor's note: September sees a flurry of news for the innovation community, with one Houston university topping a nationwide ranking and one Houston-area NASA contractor poised to go public. Here are the five most-read Houston innovation headlines published September 1-15, 2026:

Houston university ranks No. 10 best in the U.S. in new 2027 report

Education ranking and review website Niche has released its 2027 rankings of the best colleges in the U.S., and Rice University leads as the No. 1 best university in Texas, and No. 10 best nationwide. Rice University ranked 10th in three national lists: Best Colleges in America, Top Private Universities, and Colleges with the Best Professors. Continue reading.

Houston-area NASA contractor plans Nasdaq IPO

Webster-based NASA contractor Rothe Development Inc. has filed paperwork with the U.S. Securities and Exchange Commission to go public. Rothe, a minority- and woman-owned business, hasn’t yet identified how many shares it will sell and how much money its IPO might raise. Rothe plans to offer Class B common stock on the Nasdaq exchange. Continue reading.

10+ can't-miss Houston business and innovation events for September

The energy transition and AI will be the talk of this town this month, thanks to a packed calendar of Houston events. September brings the return of Houston Energy and Climate Startup Week and some of its signature anchor events, plus AI conferences and talks exploring how the technology is impacting everything from healthcare to leadership. Here’s what not to miss and how to register. Continue reading.

Amazon's robotaxi service Zoox rolls out in 'sprawling' Houston market

Amazon-owned robotaxi ride-hailing service Zoox is zooming into Houston in September, becoming the latest robotaxi operator jockeying for local riders. Initially, self-driving retrofitted SUVs with safety drivers on board will serve downtown Houston, centrally located tourist hotspots, and certain residential neighborhoods. The SUVs will test Houston roads before Zoox rolls out autonomous robotaxis here, the company says. Continue reading.

10 Houston billionaires land on Forbes' 2026 list of richest Americans

The richest billionaires in America have a collective worth of $8 trillion in 2026, a staggering $1.4 trillion increase since last year, says Forbes. American billionaires are so wealthy that it now takes an unprecedented $4.4 billion net worth to be considered one of the richest people in the country. And one local billionaire has regained the title as Houston's wealthiest resident. Oil tycoon Jeffery Hildebrand, 67, now reigns as the No. 1 richest Houstonian, the 9th richest Texan, and the 88th richest person in America for 2026. Continue reading.

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