3 Houston innovators to know this week

Who's who

This week's Houston innovators to know are hoping to make an impact. Courtesy photos

Starting off a new — hopefully drier — week in Houston, these three Houston innovators to know are looking to make an impact. From using tech for good to creating a women's movement in Texas business, these three Houstonians are on a roll.

Cristen Reat, co-founder and program director at BridgingApps

BridgingApps, a program backed by Easter Seals of Greater Houston, uses technology like iPads to help provide services for children and adults with disabilities — as well as for veterans — and their families. Courtesy of BridgingApps

At the cusp of the tablet generation, Cristen Reat saw her child, who had down syndrome, and this convenient emerging technology and connected the dots. She helped start a support group in a therapy clinic where many parents were interested about why mobile devices and apps were so engaging to their children.

"We were just amazed about how our children with different types of disabilities were engaged with the devices, were able to communicate with the devices, and were making big strides in their therapy," says Reat.

BridgingApps was founded by Reat and Sami Rahman in 2010, both seeking to help their children grow. The program became a part of Easter Seals of Greater Houston in 2011. The website currently boasts over 3,000 apps which users can sort through by category, age, price, skill, grade level, mobile device, and more. The apps are also able to benefit and treat veterans and their families. Read more about Reat and the BridgingApps program here.

Charley Donaldson, co-founder and COO of CaringBand

CaringBand is using a simple technology to better connect family and friends to the ones they love. Courtesy of CaringBand

When Charley Donaldson's mother-in-law was diagnosed with cancer, he and his wife knew they were in for a tough time. What they didn't realize was how important communication was going to be with each other. The ability to check in with loved ones frequently is tough — whether it's a good day or a bad day, people are busy and picking up the phone can be time consuming.

"It's like, you want to show people that you care about them, but you don't want to interrupt their day, or you don't want to be a burden to them if they aren't up to company," Donaldson says.

CaringBand is a light-up bracelet that's Bluetooth enabled, and connects to a mobile app. A person gives the bracelet to a loved one, who then pairs it with his or her smartphone. App users can send and receive pre-set messages of encouragement to and from other app users. Those wearing a CaringBand bracelet get alerted by a blinking light or vibration that lets them know someone is thinking about them. The wearer then reads these encouraging messages on the CaringBand app when convenient and with no need to respond. Read more about the Houston company connecting loved ones.

Ludmila Golovine, president and CEO of MasterWord Services Inc. and a founding member of Women in Localization's Texas Chapter

Ludmila Golovine, president and CEO of MasterWord Services Inc. and a founding member of newly formed Women in Localization's Texas Chapter, writes on the importance of localization. Courtesy of Golovine

Your business message is only as good as the receiver's ability to understand it. Localization is extremely important for business growth, and Ludmila Golovine, president and CEO of MasterWord Services Inc., wrote a guest article for InnovationMap about this importance as it pertains to the digital age.

"Opening a website or an app that wasn't intended for you can feel a lot like being lost in another country: you cannot understand the street signs, everything is different, and you don't even know how to ask a question of where to go," she writes.

Golovine is a founding member of newly formed Women in Localization's Texas Chapter. The organization is hosting its first Houston panel and networking event on Tuesday, September 24, from 6 to 8 p.m. at Station Houston. Read Golovine's guest article here.

Using tech in the localization process is key in growing businesses in a diverse city like Houston

Guest column

Today we live in a world where we not only do business globally, but where our local communities are becoming increasingly more international. And yet, we don't always market to prospective clients' local preferences. Opening a website or an app that wasn't intended for you can feel a lot like being lost in another country: you cannot understand the street signs, everything is different, and you don't even know how to ask a question of where to go.

Localization has come to define the process by which we adapt information and products to offer them to new markets and regions, the end goal being to give a product the look and feel of having been created specifically for a target market, no matter the language, culture, or location. CNN knows that there are more than 58 million Latinos in the U.S. who want their own Spanish language shows. Domino's Pizza has an extremely flexible localization strategy where they regularly update their menu and topping choices to incorporate local tastes and food preferences. These are prime examples of localization.

In 2014, Common Sense Advisory, a major independent research company, published a report titled "Can't Read: Won't Buy." The report summarized responses of 3,000+ consumers across 10 countries regarding their buying preferences. According to the report, 75 percent of consumers said they were more likely to purchase goods and services if the product information was in their native language, and 56.2 percent of consumers said that the ability to obtain information in their own language was more important than price.

As most brands have growth on their mind, the significance of personalization and localized marketing cannot be underestimated. It is not only global or international corporations that benefit from localization. Domestically, it is estimated that that 30 percent of the U.S. population will be Hispanic by 2042, and the buying power of minorities in the U.S. is continuing to increase.

For many companies, success depends on capturing market share in communities that don't speak English and don't necessarily relate to our nuanced culture. Overall, today businesses competing in a world of more than 7,000 spoken languages face increasing pressure to have the right language strategy in place to properly capture their desired market share, serve customers, and attract and retain experienced talent worldwide.

Website and app localization are among the more frequently sought services. With websites and apps available in multiple languages with modified content to suit the preferences of a particular market, adapted graphic design and geographic references, units of measure, proper local formats for dates, addresses and phone numbers for instance, businesses achieve:

Increased credibility as consumers find reassurance and comfort when information is accurately portrayed in their preferred language;

Enhanced customer engagement and retention as customers are attracted and loyalty is developed when information is provided in their native language. In fact, research confirms that most consumers would pay extra if the information was available in their native language;

Improved brand recognition as consumers are much more likely to identify with a brand they can relate to, one that shares information in their preferred language through website content, marketing and promotional materials or when providing customer service; and

More efficient SEO as multilingual content helps drive more traffic to websites. Leveraging SEO keywords may provide a competitive challenge in English, but in languages other than English, there is significantly less competition.

To attain a global reach, or to expand into diverse local communities right here in Houston, localization is an effective way to broaden the market and reach more customers, starting here in our multi-cultural city.

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Ludmila Golovine is the president and CEO of MasterWord Services Inc. and a founding member of newly formed Women in Localization's Texas Chapter. The organization is hosting its first Houston panel and networking event on Tuesday, September 24, from 6 to 8 p.m. at Station Houston (1301 Fannin Street, Suite 2440).

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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.

Houston unicorn closes $421M to fuel first phase of flagship energy project

Heating Up

Houston geothermal unicorn Fervo Energy has closed $421 million in non-recourse debt financing for the first phase of its flagship Cape Station project in Beaver County, Utah.

Fervo believes Cape Station can meet the needs of surging power demand from data centers, domestic manufacturing and an energy market aiming to use clean and reliable power. According to the company, Cape Station will begin delivering its first power to the grid this year and is expected to reach approximately 100 megwatts of operating capacity by early 2027. Fervo added that it plans to scale to 500 megawatts.

The $421 million financing package includes a $309 million construction-to-term loan, a $61 million tax credit bridge loan, and a $51 million letter of credit facility. The facilities will fund the remaining construction costs for the first phase of Cape Station, and will also support the project’s counterparty credit support requirements.

Coordinating lead arrangers include Barclays, BBVA, HSBC, MUFG, RBC and Société Générale, with additional participation from Bank of America, J.P. Morgan and Sumitomo Mitsui Trust Bank, Limited, New York Branch.

“As demand for firm, clean, affordable power accelerates, EGS (Enhanced Geothermal Systems) is set to become a core energy asset class for infrastructure lenders,” Sean Pollock, managing director, project Finance at RBC Capital Markets, said in a news release. “Fervo is pioneering this step change with Cape Station, a vital contribution to American energy security that RBC is proud to support.”

The oversubscribed financing marks Cape Station’s shift from early-stage and bridge funding to a long-term, non-recourse capital structure, according to the news release.

“Non-recourse financing has historically been considered out of reach for first-of-a-kind projects,” David Ulrey, CFO of Fervo Energy, said in a news release. “Cape Station disrupts that narrative. With proven oil and gas technology paired with AI-enabled drilling and exploration, robust commercial offtake, operational consistency, and an unrelenting focus on health and safety, we have shown that EGS is a highly bankable asset class.”

Fervo continues to be one of the top-funded startups in the Houston area. The company has raised about $1.5 billion prior to the latest $421 million. It also closed a $462 million Series E in December.

According to Axios Pro, Fervo filed for an IPO that would value the company between $2 billion and $3 billion in January.

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This article first appeared on EnergyCapitalHTX.com.

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