Editor's note:Another week has come and gone, and it's time to round up the top headlines from the past few days. Trending Houston tech and startup news on InnovationMap included news of a jump in new businesses amid the pandemic, energy companies joining a carbon capture and storage initiative, innovators to know, and more.
3 Houston innovators to know this week
This week's roundup of Houston innovators includes Joey Sanchez of The Ion, Nisha Desai of Intention, and Moji Karimi of Cemvita Factory. Courtesy photos
In this week's roundup of Houston innovators to know — the first of this new year — I'm introducing you to three local innovators across industries — from startup development to energy transition — recently making headlines in Houston innovation.Click here to continue reading.
Report: Houston sees huge jump in new businesses amid the pandemic
A recent report finds that the rate of new Houston startups has popped up significantly. Photo by Zview/Getty Images
By one measure, Houston could be considered the startup capital of Texas.
A new study by personal finance website LendingTree shows the Houston metro area experienced a 37.4 percent jump in new-business applications from 2019 to 2020. That was the highest growth rate among Texas’ six biggest metro areas and the 20th highest growth rate among the 100 U.S. metro areas with the most new-business applications in 2020.
In 2019, the Houston area racked up 85,998 new-business applications, according to U.S. Census Bureau data cited by LendingTree. A year later, the number of applications in the region soared to 118,183. The data measures applications for nine-digit employer identification numbers (EINs), which the IRS uses to track businesses for tax purposes. An EIN is similar to a person’s Social Security number.
“The pandemic has created so much financial chaos for so many people, and that uncertainty surely spurred many Americans to take the plunge,” says Matt Schulz, chief credit analyst at LendingTree. Click here to continue reading.
Houston startup secures big contract, coworking company acquired, and more local innovation news
Common Desk, which has locations across Houston, has been acquired — and other innovation news. Rendering courtesy of Common Desk
Houston is starting 2022 strong in terms of innovation news, and there might be some headlines you may have missed.
In this roundup of short stories within Houston startups and tech, the Bayou City is ranked based on its opportunities for STEM jobs, a Houston blockchain startup scores a major contract, Rice University opens applications for its veteran-owned business competition, and more. Click here to continue reading.
Atlanta growth equity firm acquires Houston health care startup
Texas Endovascular has exited in a private equity deal. Photo courtesy of Getty Images
A Houston-based startup specializing in minimally invasive vascular procedures has made an exit.
Fulcrum Equity Partners, based in Atlanta, has announced the acquisition of Texas Endovascular Associates, a specialty physician practice across five locations in the greater Houston area. The terms of the deal were not disclosed.
“We are excited to partner with the Texas Endovascular team to continue growing the impressive platform they have already built,” says Tom Greer of Fulcrum Equity Partners in a news release. “The company has created a differentiated service model and is well positioned to continue its growth in Texas. We look forward to building on this strong presence in the state as well as pursuing strategic acquisitions as we expand its geographical footprint.” Click here to continue reading.
3 businesses join Houston initiative for carbon capture and storage
Business and government leaders in the Houston area hope the region can become a hub for CCS activity. Photo via Getty Images
Three big businesses — Air Liquide, BASF, and Shell — have added their firepower to the effort to promote large-scale carbon capture and storage for the Houston area’s industrial ecosystem.
These companies join 11 others that in 2021 threw their support behind the initiative. Participants are evaluating how to use safe carbon capture and storage (CCS) technology at Houston-area facilities that provide energy, power generation, and advanced manufacturing for plastics, motor fuels, and packaging.
Other companies backing the CCS project are Calpine, Chevron, Dow, ExxonMobil, INEOS, Linde, LyondellBasell, Marathon Petroleum, NRG Energy, Phillips 66, and Valero. Click here to continue reading.