Houston is among the top cities for veteran entrepreneurs. Photo via Getty Images

Houston has moved up the ranks in an annual study of the top places in the U.S. for veteran entrepreneurs.

The study, conducted by the PenFed Foundation and Edelman Data & Intelligence, puts Houston at No. 5 among the best metro areas for veteran entrepreneurs. That’s up from No. 12 in the 2021 study.

The study cites Houston’s economic growth, support for veterans, strong employment, and low unemployment rate among veterans as factors favoring veteran entrepreneurs.

More than 300,000 military veterans live in the Houston area. That’s the second largest population of veterans in the U.S.

Due to the Houston area’s robust veteran population, Bayou City was chosen in 2018 as the site for the third local chapter of Bunker Labs, an accelerator and incubator for military-affiliated entrepreneurs.

At No. 1 in the study is Washington, D.C., followed by:

2. New York City
3. Seattle
4. Dallas-Fort Worth
5. Houston
6. Austin
7. Sioux Falls, South Dakota
8. Cleveland
9. Rapid City, South Dakota
10. Boston

Elsewhere in Texas, McAllen-Edinburg-Mission landed at No. 20 and San Antonio at No. 23.

The study analyzed four categories for each city: livability, economic growth, support for veterans, and ability to start a business. The study evaluated 390 metro areas.

“As the nation navigates the economic impacts of inflation, the study focused especially on how inflation impacts cities differently,” says the PenFed Foundation, established by PenFed Credit Union.

This is the third year for the study.

“We want to help cities across the United States understand which environments are best suited for military veterans to start and grow businesses, and inspire city leaders to take the actions needed to support veteran entrepreneurs,” James Schenck, president and CEO of PenFed Credit Union and CEO of the foundation, says in a news release.

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Axiom Space-tested cancer drug advances to clinical trials

mission critical

A cancer-fighting drug tested aboard several Axiom Space missions is moving forward to clinical trials.

Rebecsinib, which targets a cancer cloning and immune evasion gene, ADAR1, has received FDA approval to enter clinical trials under active Investigational New Drug (IND) status, according to a news release. The drug was tested aboard Axiom Mission 2 (Ax-2) and Axiom Mission 3 (Ax-3). It was developed by Aspera Biomedicine, led by Dr. Catriona Jamieson, director of the UC San Diego Sanford Stem Cell Institute (SSCI).

The San Diego-based Aspera team and Houston-based Axiom partnered to allow Rebecsinib to be tested in microgravity. Tumors have been shown to grow more rapidly in microgravity and even mimic how aggressive cancers can develop in patients.

“In terms of tumor growth, we see a doubling in growth of these little mini-tumors in just 10 days,” Jamieson explained in the release.

Rebecsinib took part in the patient-derived tumor organoid testing aboard the International Space Station. Similar testing is planned to continue on Axiom Station, the company's commercial space station that's currently under development.

Additionally, the drug will be tested aboard Ax-4 under its active IND status, which was targeted to launch June 25.

“We anticipate that this monumental mission will inform the expanded development of the first ADAR1 inhibitory cancer stem cell targeting drug for a broad array of cancers," Jamieson added.

According to Axiom, the milestone represents the potential for commercial space collaborations.

“We’re proud to work with Aspera Biomedicines and the UC San Diego Sanford Stem Cell Institute, as together we have achieved a historic milestone, and we’re even more excited for what’s to come,” Tejpaul Bhatia, the new CEO of Axiom Space, said in the release. “This is how we crack the code of the space economy – uniting public and private partners to turn microgravity into a launchpad for breakthroughs.”

Chevron enters the lithium market with major Texas land acquisition

to market

Chevron U.S.A., a subsidiary of Houston-based energy company Chevron, has taken its first big step toward establishing a commercial-scale lithium business.

Chevron acquired leaseholds totaling about 125,000 acres in Northeast Texas and southwest Arkansas from TerraVolta Resources and East Texas Natural Resources. The acreage contains a high amount of lithium, which Chevron plans to extract from brines produced from the subsurface.

Lithium-ion batteries are used in an array of technologies, such as smartwatches, e-bikes, pacemakers, and batteries for electric vehicles, according to Chevron. The International Energy Agency estimates lithium demand could grow more than 400 percent by 2040.

“This acquisition represents a strategic investment to support energy manufacturing and expand U.S.-based critical mineral supplies,” Jeff Gustavson, president of Chevron New Energies, said in a news release. “Establishing domestic and resilient lithium supply chains is essential not only to maintaining U.S. energy leadership but also to meeting the growing demand from customers.”

Rania Yacoub, corporate business development manager at Chevron New Energies, said that amid heightening demand, lithium is “one of the world’s most sought-after natural resources.”

“Chevron is looking to help meet that demand and drive U.S. energy competitiveness by sourcing lithium domestically,” Yacoub said.

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This article originally appeared on EnergyCapital.