At the recent Global Corporate Venture conference, two corporate venture execs peeled back the curtain on what they look for from startups. Getty Images

One of the challenges for Houston energy startups is not knowing what potential big corporate partners want from them. At the recent Global Corporate Venture, two corporate venture execs shared what all they're looking for and the challenges they are facing.

Diana Grauer, director of external technology engagement and venture capital at Technip FMC, and Bradley Andrews, president of digital at Worley joined a panel with moderator Wade Bitaraf, founder of Plug and Play Energy & Sustainability. The panel, entitled "How globalization and diversification can boost a local innovation ecosystem," explored what each exec looks for in potential partnerships with startups.

At TechnipFMC, which has a newer corporate investment group, Grauer says her team looks for startup technologies within four key categories, industry 4.0, digitization, materials and processes, and energy transition. Within those categories, she says they aren't looking for startups that will provide a big return on investment, rather technologies that will advance the company's capabilities.

"We're focused on strategic returns, not necessarily your conventional financial returns," she says.

Andrews echoed this point, admitting that while a big exit for a portfolio company is never bad, but Worley would rather have technologies that benefit their business platform.

"As long as [a technology is] under core strategy and driving internal strategy, we're kind of in," he says. "Anything around data science, automation, new energy, sustainability, those are all kind of sweet spots for us."

A big challenge, Andrews says, is communicating companywide the importance of looking outward for innovative opportunities, rather than relying on the company's staff.

"The idea of corporate tech startups coming to fruition within our industry is kind of new. We used to build from within," Andrews says. "We're still as an industry trying to figure out how to do this."

Grauer says that, similarily, her biggest challenge is getting pushback from within TechnipFMC of people who just think their company should fund its current workforce to find solutions. But Grauer responds to them explaining that the company needs to move faster than that and the way to do that is through working with startups. That's why the company has created an Open Innovation Program. According to Grauer, the organization expects to make its first investment by the end of the year.

For Andrews, the state of Houston's innovation ecosystem is exciting, and he notes that he looks at emerging technologies across industries. A technical solution in medicine might have an application in energy, for example. And, considering the state of the energy industry, now is the time to be more collaborative within Houston as more and more global challenges emerge.

"I think Houston has everything it needs to make a stake in this," Andrews says. "We're not competing with each other in this industry. We're competing against what the world is going to demand from us. It's time for us in corporate land and set our egos aside."

Grauer says she's seen the city's innovation resources grow over the years, noting the emergence of The Cannon, Rice Alliance, and Plug and Play.

"I really think that the energy industry in Houston is really starting to catch up and blossom," she says.

Good things don't just come to those who wait. If you're wanting to get your startup in front of major corporations, you need to take matters into your own hands. Pexels

Overheard: Experts give advice for Houston startups looking for corporate partnerships

Eavesdropping in Houston

If you've ever wanted to know the best way to get your startup in front of a major corporation, according to experts from both sides of the table — here's your chance.

At the Houston Innovation Open Conference, five major players in Houston's innovation ecosystem sat on a panel and discussed startups, accelerators, and more. One question asked each panelist for their advice for corporate partnerships. Here's what they had to say.

“Go to one of our programs — even if you used to work at an oil and gas company, as a startup, you need new pathways and you need help and support and lots of love along the way.”

Gabriella Rowe, CEO of Station Houston. Even with a Houston business background, there's strength in numbers, she says.

“Keep your identity along the way.”

Haibin Xu, regional manager of Shell Research Connect & GameChanger US and Canada. From the corporate side of things. Xu said sometimes the Shells of the world can't help you — find the right company that best aligns with your startup.

“Do your research. … And have a clear value proposition, and put it on the table.”

Wade Bitaraf, head of energy and sustainability practice at Plug and Play. Preparation and research is extremely important before you meet with any potential corporate partners.

“Find a community to join … and don’t limit yourself to what you think is your industry.”

Brad True, managing director of The Cannon and Cannon Ventures. True gave an example of a Cannon company that found success outside the industry they thought they were confined to.

“You have to find the pathways that are going to make it as easy as possible.”

Brian Richards, innovation lead and managing director at Accenture. Richards emphasized that startups can go bankrupt waiting for something formal from a big corporation.

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Texas Space Commission doles out $5.8 million to Houston companies

On A Mission

Two Houston-area companies have landed more than $5.8 million in funding from the Texas Space Commission.

The commission granted up to $5.5 million to Houston-based Axiom Space and up to $347,196 to Conroe-based FluxWorks.

The two-year-old commission previously awarded $95.3 million to 14 projects. A little over $34 million remains in the commission-managed Space Exploration and Aeronautics Research Fund.

Axiom Space, a commercial spaceflight company, said the new funding will go toward the development of its orbital data center capabilities. By the end of this year, Axiom plans to launch two free-flying nodes in low-Earth orbit to support its orbital data center operations. More nodes are set to go online in the coming years.

“Axiom Space is actively evaluating how our [orbital data center] architecture can enhance critical U.S. capabilities, including the proposed Golden Dome missile defense architecture,” Jason Aspiotis, global director of in-space data and security at Axiom, said in a news release. “In this context, real-time, around-the-clock availability, secure orbital processing, and AI-driven autonomy are vital for ensuring mission success.”

Founded in 2021, FluxWorks provides magnetic gear technology that was developed at Texas A&M University.

In 2024, FluxWorks was one of two startups to receive the Technology in Space Prize, funded by Boeing and the Center for the Advancement of Science in Space (CASIS), which manages the International Space Station National Laboratory.

FluxWorks is testing the performance of magnetic gear in microgravity environments, such as the International Space Station.

“Gearboxes aim to reduce the mass of motors required in a variety of applications; however, the lubricant needed to make them work properly is not designed for use in extreme environments like space,” according to a 2024 news release about the Technology in Space Prize. “Magnetic gears do not require lubricant, making them an appealing alternative.”

The Texas Space Commission granted $25 million to Houston aerospace companies Starlab Space and Intuitive Machines earlier this year. Read more here.

3 Houston startups named most innovative in Texas by LexisNexis

report card

Three Houston companies claimed spots on LexisNexis's 10 Most Innovative Startups in Texas report, with two working in the geothermal energy space.

Sage Geosystems claimed the No. 3 spot on the list, and Fervo Energy followed closely behind at No. 5. Fintech unicorn HighRadius rounded out the list of Houston companies at No. 8.

LexisNexis Intellectual Property Solutions compiled the report. It was based on each company's Patent Asset Index, a proprietary metric from LexisNexis that identifies the strength and value of each company’s patent assets based on factors such as patent quality, geographic scope and size of the portfolio.

Houston tied with Austin, each with three companies represented on the list. Caris Life Sciences, a biotechnology company based in Dallas, claimed the top spot with a Patent Asset Index more than 5 times that of its next competitor, Apptronik, an Austin-based AI-powered humanoid robotics company.

“Texas has always been fertile ground for bold entrepreneurs, and these innovative startups carry that tradition forward with strong businesses based on outstanding patent assets,” Marco Richter, senior director of IP analytics and strategy for LexisNexis Intellectual Property Solutions, said in a release. “These companies have proven their innovation by creating the most valuable patent portfolios in a state that’s known for game-changing inventions and cutting-edge technologies.We are pleased to recognize Texas’ most innovative startups for turning their ideas into patented innovations and look forward to watching them scale, disrupt, and thrive on the foundation they’ve laid today.”

This year's list reflects a range in location and industry. Here's the full list of LexisNexis' 10 Most Innovative Startups in Texas, ranked by patent portfolios.

  1. Caris (Dallas)
  2. Apptronik (Austin)
  3. Sage Geosystems (Houston)
  4. HiddenLayer (Austin)
  5. Fervo Energy (Houston)
  6. Plus One Robotics (San Antonio)
  7. Diligent Robotics (Austin)
  8. HighRadius (Houston)
  9. LTK (Dallas)
  10. Eagle Eye Networks (Austin)

Sage Geosystems has partnered on major geothermal projects with the United States Department of Defense's Defense Innovation Unit, the U.S. Air Force and Meta Platforms. Sage's 3-megawatt commercial EarthStore geothermal energy storage facility in Christine, Texas, was expected to be completed by the end of last year.

Fervo Energy fully contracted its flagship 500 MW geothermal development, Cape Station, this spring. Cape Station is currently one of the world’s largest enhanced geothermal systems (EGS) developments, and the station will begin to deliver electricity to the grid in 2026. The company was recently named North American Company of the Year by research and consulting firm Cleantech Group and came in at No. 6 on Time magazine and Statista’s list of America’s Top GreenTech Companies of 2025. It's now considered a unicorn, meaning its valuation as a private company has surpassed $1 billion.

Meanwhile, HighRadius announced earlier this year that it plans to release a fully autonomous finance platform for the "office of the CFO" by 2027. The company reached unicorn status in 2020.

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This article originally appeared on Energy Capital HTX.

UH student earns prestigious award for cancer vaccine research

up-and-comer

Cole Woody, a biology major in the College of Natural Sciences and Mathematics at the University of Houston, has been awarded a Barry Goldwater Scholarship, becoming the first sophomore in UH history to earn the prestigious prize for research in natural sciences, mathematics and engineering.

Woody was recognized for his research on developing potential cancer vaccines through chimeric RNAs. The work specifically investigates how a vaccine can more aggressively target cancers.

Woody developed the MHCole Pipeline, a bioinformatic tool that predicts peptide-HLA binding affinities with nearly 100 percent improvement in data processing efficiency. The MHCole Pipeline aims to find cancer-specific targets and develop personalized vaccines. Woody is also a junior research associate at the UH Sequencing Core and works in Dr. Steven Hsesheng Lin’s lab at MD Anderson Cancer Center.

“Cole’s work ethic and dedication are unmatched,” Preethi Gunaratne, director of the UH Sequencing Core and professor of Biology & Biochemistry at NSM, said in a news release. “He consistently worked 60 to 70 hours a week, committing himself to learning new techniques and coding the MHCole pipeline.”

Woody plans to earn his MD-PhD and has been accepted into the Harvard/MIT MD-PhD Early Access to Research Training (HEART) program. According to UH, recipients of the Goldwater Scholarship often go on to win various nationally prestigious awards.

"Cole’s ability to independently design and implement such a transformative tool at such an early stage in his career demonstrates his exceptional technical acumen and creative problem-solving skills, which should go a long way towards a promising career in immuno-oncology,” Gunaratne added in the release.