Houston is again ranked a top city for women in tech. Photo via Getty Images

Houston has again made it into the top cities for women in tech — beating out everywhere but Arlington, Virginia, and Washington, D.C.

Up four spots compared to last year, Houston comes in third place on SmartAsset's eighth annual list, which factors in four metrics: gender pay gap in the tech industry, income for women in tech after deducting housing costs, women as a percentage of tech workers, and three-year growth in tech employment. Aside from Houston, Texas's only other top 15 representation is Fort Worth, which ranks as No. 6.

The Bayou City ranks No.1 overall for the gender pay gap —women earned 98 percent of what men do in the tech workforce on average, the report finds. Female tech workers earn $65,662 after housing expenses are accounted for — ranking ninth-best. Between 2017 and 2020, total tech employment grew by 13 percent and in that workforce, 27.5 percent of workers are women.

The annual study found that while the tech industry is seeing steady growth and is projected to see another 178,000 tech jobs enter the market in 2022, the gender gap is also consistently disappointing. Women only make up 26.1 percent of all tech workers, per the report, and earn just 84 percent of what their male counterparts do.

The West Coast doesn't make a great impact on the list this year.

"Surprisingly, no California cities made the top 10," SmartAsset reports. "Overall, California cities fall behind for tech employment growth over the last three years and the gender pay gap. The highest ranked California city is Sacramento which ties for No. 11 with Nashville, Tennessee."

Houston ranked No. 6 on the same study in 2020 and No. 4 in 2019.

Houston has been deemed the sixth best city for women in technology, according to a SmartAsset report. Christina Morillo/Pexels

Houston named among the top cities for women in technology

Who runs the world?

Houston fell two places in SmartAsset's latest ranking of the best U.S. cities for women in technology but remains in the top 10.

SmartAsset's sixth annual study, released February 6, puts Houston at No. 6 among the top cities for women in tech. That's down from the No. 4 spot in SmartAsset's 2019 study. However, Houston still holds the No. 1 ranking among Texas cities.

"Only one of five most-populated U.S. cities — Houston — makes it into our top 15 cities for women working in the tech industry," says SmartAsset, a personal finance website.

In all, SmartAsset analyzed 59 of the largest U.S. cities to find the best places for women in tech to work and live. The website judged each city on four factors:

  • Gender pay gap in the tech industry
  • Average earnings after subtracting median costs for housing
  • Women as a percentage of the tech workforce
  • Four-year growth in tech employment

In Houston, average earnings for women in tech represented 99 percent of men's earnings in 2018, SmartAsset found. That amounts to a difference of $451. Houston also boasts the eighth highest average amount of earnings for women in tech after deducting costs for housing ($64,464), according to SmartAsset.

Furthermore, the study shows women hold down 25.8 percent of tech jobs in Houston, compared with the 59-city average of 26.1 percent.

Houston's showing in the SmartAsset study bolsters the region's amped-up efforts to evolve into a tech hub.

In April 2019, the Wall Street Journal noted those efforts were jump-started after Amazon rejected Houston as a candidate for the e-commerce giant's hotly pursued second headquarters. These initiatives include attracting startups and venture capital, and ramping up programs aimed at accelerating innovation.

"We already knew we were not in the top tier of what has been happening globally as far as innovation," Houston Mayor Sylvester Turner told the Wall Street Journal. "But Amazon passing us over was a real wake-up call that we could not be walking towards building this new ecosystem. We had to sprint."

Here are the top 10 cities for women in tech, according to SmartAsset:

  1. Baltimore
  2. Washington, D.C.
  3. Arlington, Virginia
  4. Chesapeake, Virginia
  5. Albuquerque, New Mexico
  6. Houston
  7. Long Beach, California,
  8. Chandler, Arizona
  9. Philadelphia
  10. Durham, North Carolina

In the SmartAsset study, Houston fared much better than its big-city counterparts in Texas. Fort Worth came in at No. 17, with Plano tied for 27th, San Antonio tied for 37th, Irving at No. 39, Austin at No. 49, and Dallas at No. 54 (five spots from the bottom).

To find the best cities for women in tech, SmartAsset looked at data for cities that had at least 200,000 residents in 2018. The website then removed cities that lacked reliable data, leaving a pool of 59 cities.

Findings in the SmartAsset study stand in contrast to a recent ranking by CompTIA, a tech industry trade group, of the 20 best metro areas in the U.S. for IT jobs. Austin ranked first, and Dallas appeared at No. 7. Houston didn't make the list.
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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-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.