New biotech lab, accelerator emerges in Houston to speed up commercialization of life-saving cures

ready to launch

The first of Rice University's new moonshot initiatives, the Rice Biotech Launch Pad was announced on the 61st anniversary of President John F. Kennedy's address at Rice Stadium. Photo by Gustavo Raskosky/Rice University

A new initiative from Rice University is launching with an ambitious goal — to take biotech innovations from concept to clinical trials in five years or less.

The Rice Biotech Launch Pad is a newly announced initiative that will expedite Rice University's health and medical technology innovations. The accelerator, which will occupy 15,000 square feet of space on campus, will be funded through federal grants and donations.

“The Rice Biotech Launch Pad will ensure that our faculty and students have the skills, partnerships, tools and support to create technologies that can transform our city and the world,” Rice President Reginald DesRoches says in a press release. “More importantly, the accelerator will provide a pathway for these creations and discoveries to be turned into medical cures that significantly impact people’s lives. Rice researchers have been doing this for years. This development will allow them to do even more and at a quicker, more efficient pace.”

Leading the program are two seasoned experts: associate professor of bioengineering at Rice, Omid Veiseh, and biotech entrepreneur Paul Wotton, who co-founded Avenge Bio and other startups with technology discovered in Veiseh’s lab. Veiseh will serve as faculty director, and Wotton will lead as executive director. Veiseh says the team behind the new lab will assist faculty in their mission to garner funding — via grants from organizations such as ARPA-H, DARPA and the NIH — as well as creating pathways for licensing revenue for the university.

“We have the infrastructure, financial backing and talent in Houston to do more in creating new medicines to cure disease," Veiseh says in the release. "This is a thriving environment that warrants more attention and dedication to bring forward Houston’s medical discoveries. I am proud to help make this happen.”

The accelerator’s founding advisory council members from Rice are:

  • Paul Cherukuri, Rice’s vice president for innovation.
  • Jacob Robinson, professor of electrical and computer engineering and of bioengineering and founder and CEO of Motif Neurotech.
  • Ashok Veeraraghavan, professor of electrical and computer engineering and computer science and co-founder of Synopic.
  • Yael Hochberg, head of the Rice Entrepreneurship Initiative and the Ralph S. O'Connor Professor of Finance and Entrepreneurship at the Jesse H. Jones Graduate School of Business.

“The Biotech Launch Pad is the first in a series of Rice Moonshots that are hyper-focused on building a ‘speed and scale’ innovation ecosystem across Houston," Cherukuri says. "We at Rice are committed towards driving the Biotech Launch Pad in collaboration with our partners within the Texas Medical Center and the new Helix Park campus.”

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Applications are now open for the Summer Venture Studio. Photo via rice.edu

Rice University kicks off new program for student startup founders

student entrepreneurship

Students at Rice University will have a new opportunity to have a taste of entrepreneurship this summer.

The Liu Idea Lab for Innovation and Entrepreneurship, or Lilie, has established a new startup accelerator program called the Summer Venture Studio. The program, which will run May 15 through August 7, is open to students of any major or year, including recent graduates.

“The Summer Venture Studio will empower student teams to accelerate their ventures and hit escape velocity,” says Kyle Judah, executive director of Lilie, in a news release. “We believe that with the right personalized program and resources, and led by our team of experienced founders, we can unlock students’ limitless potential to create the next generation of pillar companies for Houston, Texas and the world.”

The accepted students will work full-time with Lilie's one-on-one mentorship, programming, and up to $15,000 in equity-free funding per team — all provided in a dedicated coworking space.

“Summer Venture Studio offers Rice students the opportunity to work on their venture ideas with individualized programming customized to their experience, background and venture stage,” says Yael Hochberg, the Ralph S. O’Connor Professor in Entrepreneurship and head of the Rice Entrepreneurship Initiative. “The program is designed to blend seamlessly into students’ curricular and co-curricular experience throughout the academic year, ensuring that each student is met where they are in experience and entrepreneurial knowledge.”

The accelerator is looking for student teams of up to five members. The team lead must be a current student or have graduated within a month of the program's start. Applications are now open online and will be evaluated on a rolling basis.

Houston has seen four new accelerators enter the market this year. Photo by Zview/Getty Images

Breaking down Houston's 4 new startup accelerator programs

Excelling in accelerating

It's official — 2019 is the year of accelerators in Houston. Four different accelerator programs have announced plans to launch Houston programs this year so far — and they are all bringing something different to the table.

All four of the programs represent global programs or big companies recognizing the potential in Houston, which, according to Yael Hochberg, head of the Rice University Entrepreneurship Initiative, is a key part of the equation.

"When you're talking about a place like Houston, what we need here right now is interest from the outside," Hochberg says. "We need some certification by people from the outside that in fact this is a destination for innovation and entrepreneurship."

Houston's most successful accelerator has been homegrown — right out of the Texas Medical Center. TMCx is on its ninth cohort since it launched in 2014.

Also founded in Houston, SURGE Accelerator had a different fate. It launched in 2011 and closed in 2016. Hochberg says there are a number of reasons for the program's demise including disengaged corporations.

"I do feel there's a lot of opportunity around this, and I don't think we should look at SURGE as some sort of indicator of what will happen to an accelerator in the city," she says. "If anything, I would look at TMCx and look at the potential that we see from that."

The biggest benefit to these accelerator programs, Hochberg says, is the new influx of startups that come to Houston. It's not only the accelerators' cohorts, but just the feasibility of the success and resources available. More startups translates to more investments.

"When you have startup activity and good startups, then money, private investment money will follow," Hochbergs says. "Private investment money doesn't just show up."

But bringing in these programs puts the pressure on the city to focus on the environment it's providing new companies and talent. Innovative companies thrive in major metros with things like protected bike lanes, city living, sustainability — and Houston needs to work on these things, Hochberg says, adding that Houston's ability to boast on its single-family homes is less and less attractive to younger demographics.

Building the city up with these types of infrastructure is going to be key when it comes to retaining these startups that accelerators bring in.

"We can create accelerators from here until tomorrow," Hochberg says. "People will send a couple of people down for two days a week to Houston sit at the accelerator, but they'll keep their company somewhere else and not actually move to Houston. Maybe if you're lucky, they'll open up like a little satellite office. We don't want that."

So, what exactly are the differences between these four new startup accelerators? Here's a breakdown of each.

MassChallenge Texas

Photo via greenstreetdowntown.com

MassChallenge Texas first announced its Houston program in January. The Boston-based accelerator program is currently in its final phase of deciding its inaugural cohort. The program is for early stage companies, and is industry agnostic. Jon Nordby, former director of strategy at Houston Exponential, leads the Houston program as managing director.

Launch: July 2019
Location: Downtown Houston
Number of cohort companies: 25
Length: 6 weeks — July through August
Origin: Boston
Requirements: The program looks for applicants that haven't raised more than $500,000 in equity-based funding and have generated less than $1 million in revenue over the past year.
Equity requirements: None.
Prizes on the line: Free office space, mentorship, and, usually, monetary prizes. (Currently, the organization hasn't confirmed cash prizes for the inaugural cohort.)

Founder Institute

Houston's new Founder Institute chapter has teamed up with Alice. Image courtesy Founder Institute

Founder Institute Houston is the earliest stage accelerator that's not associated with a university. Companies must be in the pre-funding stage of growth, and, while 30 companies will be chosen per cohort, only a fraction will complete the full 14 weeks. The Silicon Valley-originated concept now has chapters in almost 200 cities around the world. FI announced its new chapter in Houston in March after first launching in Austin.

Launch: May 2019
Location: Downtown (out of Station Houston)
Number of cohort companies: 30
Length: 14 weeks
Origin: Silicon Valley
Requirements: Company must be pre-funding.
Equity requirements: 4 percent
Prizes on the line: Cash prizes, discounts, access to worldwide alumni network, etc.

Plug and Play Tech Center

Ahead of entering the Houston market later this year, Silicon Valley's Plug and Play hosted three days of programming surrounding innovation in energy and health care. Natalie Harms/InnovationMap

Plug and Play Tech Center confirmed they were entering the Houston market earlier this month. The Silicon Valley organization has 30 locations all over the world and plans to open five new locations in the United States over the next six months to a year — one being Houston.

Launch: Fourth quarter 2019
Location: Currently scouting for a location.
Number of cohort companies: 20
Length: Three months, twice a year.
Origin: Silicon Valley
Requirements: The program is stage agnostic, but cohorts are focused on a specific industry. Houston's likely to be health and energy/sustainability, though nothing is set in stone.
Equity requirements: None
Prizes on the line: In-house venture capital opportunities, corporate connections, etc.

Ion Smart Cities Accelerator

The historic Sears building in Midtown will transform into The Ion, a Rice University-backed hub for innovation. Courtesy of Rice University

In April, the city announced that Microsoft and Intel were backing a Smart Cities Accelerator program that would accelerate companies with solutions to some of Houston's key problems. The first cohort will be focused on solutions within resilience and transportation, but each cohort will have a different set of issues. With these rotating themes, every cohort will be different.

Launch: September 2019
Location: Station Houston (then later The Ion, when it opens)
Number of cohort companies: 10
Length: 10 months
Requirements: The first set of companies will be chosen for their ability to solve problems within mobility and transportation in Houston. (Other cohorts will have other topics.)
Prizes on the line: Pilot programs and permanent business from the city of Houston.

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Uber, Nuro and Lucid plan to roll out robotaxi services in Houston

autonomous autos

More autonomous vehicles are expected to hit the roads in Houston next year.

Ridesharing giant Uber announced that it plans to roll out its premium robotaxi service in the Bayou City in mid-2027. Houston will be Uber’s second planned market for the program, following the San Francisco Bay Area, where the program is expected to be rolled out later this year.

Uber, Nuro and Lucid Group will bring the robotaxi program to Houston with more markets planned for the future. Currently, Nuro is conducting autonomous on-road testing with safety operators in Houston. Testing includes simulation, closed-course testing and supervised public-road testing.

“Houston is a city Nuro knows well, and we’re excited to help bring this robotaxi service to the city through our partnership with Uber and Lucid,” Andrew Chapin, chief operating officer at Nuro, said in a news release. “Houston’s large, complex metro area is an ideal market for demonstrating how Nuro’s universal autonomy platform can generalize across different geographies and operating environments. We look forward to continued engagement with the community as we prepare to launch service in 2027.”

The fleet of 100 vehicles across California and Texas will feature Lucid Gravity EVs and future Lucid Midsize vehicles equipped with Nuro Driver technology, Nuro’s Level 4 universal autonomy platform, plus a redundant sensor suite with cameras, lidar, radar and a roof-mounted halo.

The vehicles will be owned and operated by Uber and its fleet partners and made available to riders through the Uber network, according to the company.

In addition to the fleet of autonomous vehicles, Uber also announced that it has secured a 50,000-square-foot depot facility and dedicated charging pitstop in Houston. The facility will allow Uber and its partners to control vehicle maintenance, repairs, charging, cleaning, and day-to-day operations.

“Houston marks an important next step in our partnership with Lucid and Nuro as we expand autonomous mobility to more riders throughout the world,” Sarfraz Maredia, global head of autonomous mobility & delivery at Uber, added in the release. “Together, we’re combining best-in-class vehicle and autonomy technology with Uber’s scale, fleet operations expertise, and infrastructure capabilities to build a service that can grow across dozens of markets in the years ahead.”

Waymo launched its autonomous vehicle program in Houston in February.

The company later suspended its driverless car services in Houston, other major Texas cities, and Atlanta, after one of its vehicles was stranded by flooding during heavy rains. However, according to the Houston Chronicle, the fleet has resumed activity in Houston and is fully active.

Houston fintech company closes $7M funding round

fintech funding

Houston-based fintech company Receipts Depositary Corporation has closed a $7 million oversubscribed funding round and plans to scale.

The round was led by Austin-based LiveOak Ventures, with participation from Hivemind Capital, Onigiri Capital, OTC Markets Group, GTS, and Redbeard Ventures, according to a release from RDC.

RDC's platform issues depositary receipts (DRs) to qualified investors on digital and alternative assets, making it easier for investors to buy and trade hard-to-access and less traditional assets. Currently, the company offers DRs for cryptocurrencies including Bitcoin, Ethereum, Solana and XRP.

RDC says the new funding will allow it to launch new DR products across a wider range of asset categories, potentially including commodities. Additionally, it plans to grow its relationships with "banks, broker-dealers, market makers, custodians and exchange partners" and add to its product, operations, technology, and commercial functions teams. The company is actively hiring, according to a press release.

“Depositary Receipts are trusted, regulated capital markets products which RDC is bringing to an entirely new universe of assets, from commodities to digital assets, that have historically been out of reach of traditional securities markets," Krishna Srinivasan, founding partner at LiveOak Ventures, said the release. “The team's depth of experience in the DR business on a global scale, combined with the broad institutional validation from co-investors, anchor customers, and strategic partners across asset classes, makes RDC uniquely positioned to define this category. We're proud to lead this round and support the company as it scales.”

RDC was founded in 2022 by three Citibank alumni: CEO Ankit Mehta, CEO Bryant Kim and COO Ishaan Narain. It began offering its first DRs for Bitcoin in 2024.

“This funding round is a strong validation of what we’re building at RDC and the growing demand for modernized Depositary Receipt infrastructure,” Mehta added in the release. “With the support of LiveOak Ventures and our investor partners, we are accelerating development across our DR platform expanding our market reach, and building the team needed to support the next generation of DR product

Houston space co. adds local colleges to university alliance

space schools

Houston’s Axiom Space has added 26 new members to its University Alliance—including two from Houston—to support the next generation of space exploration.

Engineers, researchers and students from the partnering universities will be dedicated to advancing microgravity research, technology development and commercial innovation in low-Earth orbit.

Rice University and the University of Houston are among the new colleges to join the alliance, which launched with 15 members last year. The University of Texas at Austin and the University of Texas at El Paso have also joined, in addition to international institutions in Europe, Asia and Australia, and others from around the U.S. See full list here.

“Through the University Alliance, Axiom Space is uniting the international research community driven to enable human progress,” Lucie Low, Axiom Space chief science officer, said in a news release. “Together, alliance members are taking the initiative to ensure microgravity research benefits everyone on Earth and our shared goals fulfill a scientific purpose to advance civilization.”

Axiom is building the world’s first commercial space station, known as Axiom Station. The University Alliance “will support and advance space science during the transition from government-led to commercially owned and operated space stations,” the company said in a release. Partnering universities will contribute to the research community by participating in international collaborative scientific initiatives, identifying future research, and bolstering strategic positions in the commercial orbit research field.

Recently, the Rice Space Institute was also selected to lead the U.S. Space Force Strategic Institute 4 in addition to other space-centric partnerships.

“We’re excited to bring our expertise to this global alliance and to benefit from the deep expertise of our partners,” David Alexander, professor of physics and astronomy and director of the Rice Space Institute, said in a news release. “Space is truly a collaborative and global endeavor. Alliances like these are key to progress.”

UH and NASA’s Johnson Space Center expanded their collaboration in 2022. In 2024, UH launched its NASA MIRO Inflatable Deployable Environments and Adaptive Space Systems Center (IDEAS2) via a five-year, $5 million grant.

“As a major public research university located in Space City, the University of Houston has a unique opportunity and responsibility to help lead the future of space innovation, and our participation in Axiom Space’s University Alliance represents a major step forward in that mission,” Karolos Grigoriadis, the Hugh Roy and Lillie Cranz Cullen Endowed Professor and chair of mechanical and aerospace engineering at UH, added in a separate release.

Meanwhile, Axiom recently tacked on an additional $175 million to a previously announced capital raise, bringing the oversubscribed round to a total of more than $525 million. It also has announced plans to launch Swiss and Japanese subsidiaries.

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