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5 most popular innovation stories in Houston this week

Trending stories this week included a roundup of top impact innovation articles in 2020. Photo by Nijalon Dunn

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 2020 in review roundups, innovators to know, and more.


3 Houston innovators to know this week

This week's roundup of Houston innovators includes Joy M. Hutton of Joy of Consulting, Michael T. Suffredini of Axiom Space, and Kim Raath of Topl. Courtesy photos

In the last weekly roundup of Houston innovators of 2020, I'm introducing you to three innovators across the city — the new local leader of a new Google program, the CEO of a space tech company, and a startup founder with fresh funds. Click here to continue reading.

These are Houston's top social impact innovation stories of 2020

A local church deploying handwashing stations across town was one of this year's top social impact stories on InnovationMap. Photo by Nijalon Dunn

As 2020 comes to a close, InnovationMap is looking back at the year's top stories in Houston innovation. InnovationMap's most read articles regarding social impact innovation include a new incubator program from impactful startups, a church providing handwashing stations for Houston's homeless, and more. Click here to continue reading.

This Houston airport is the best in the U.S. according to the TSA

This is the second consecutive year the airport has won the award. Photo courtesy of Houston Airport System

While this has been a harrowing and surreal year for the airline industry due to the global pandemic, one local mainstay has soared. Houston's George Bush Intercontinental Airport has been named 2020 Airport of the Year by the Transportation Security Administration.

This is the second consecutive year that IAH has won the TSA's Airport of the Year title. The award recognizes the best of TSA with outstanding team achievements in key operations and mission support functions, according to a press release.

To be selected as top in the U.S., the airport must show measurable improvements, superior performance, notable innovation, and significant operational improvements in support of TSA's mission, per the TSA. Awardees, per the TSA, demonstrate "a clear commitment to improving workforce engagement and morale." (Something we all look for during airport screenings.) Click here to continue reading.

Editor's Picks: Top 10 Houston startup feature stories of the year

Mobile vet business, virtual reality for space, plant-based biotech, and more — all this innovation and more is coming out of Houston startups. Courtesy photos

As 2020 comes to a close, InnovationMap is looking back at the year's top stories in Houston innovation. This past year, InnovationMap featured profiles on dozens of these Houston startups — from blockchain and software companies to startups with solutions in health care and oil and gas. Here are excerpts of 10 that stood out throughout 2020 — be sure to click through to read the full story. Click here to continue reading.

Houston expert: Rethinking priorities at educational institutions

With a new year around the corner, students and parents will soon see school rankings released. But there's so much more to consider than what this data shows. Houston education expert shares his own innovative method. Photo via Getty Images

As a new year approaches, it is common to see various school rankings begin to appear in different studies and within various media outlets. Whether they're ranking colleges, high schools or even pre-k schools, these lists have long impacted the decisions families and students make.

That said, most school rankings are one-dimensional, therefore making them unreliable. The most common factor these classifications take into consideration is the rigor of academics and how they correlate to test scores and admissions. However, students are more than solely an academic statistic – they are artists, athletes and creative thinkers. Click here to continue reading.

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Building Houston

 
 

2020 brought over $700 million in venture funding deals into Houston, and startups saw larger deals in the first half of the year with a growing interest in angel activity. Image via Getty Images

Houston startup's venture capital deals continue to grow in 2020, according to a new report from Houston Exponential. Last year, VC dollars were up, while deal count was down, representing more mature deals coming into the ecosystem — but the second half of the year was defined by a growth in angel investment interest.

The report by Serafina Lalany, chief of staff for HX, found that the Bayou City brought saw $715 million across 117 VC deals, according to Pitch Book data. It's the fourth year Houston has seen VC growth, and last year the city reported over $563 million across 168 deals.

"Houston has put concerted efforts into building its innovation ecosystem," says Harvin Moore, president of HX, in a release, "and 2020's record-breaking results show we are seeing not only resilience in the tech sector, but a significant increase in the rate of formation and success of growth-stage companies, which have an outsized effect on our local economy in terms of high paying job potential and Houston's increasing attractiveness as a great place to work."

Last August, HX published a report on the first half of the year and that study found that Houston — facing the challenges of both the pandemic and the oil price drop — managed to see a 7 percent increase in funding compared to the national average of 2.5 percent. With the second half of the year, the city's VC increase from last year was over 25 percent and up 252 percent since 2014.

The other difference between the first and second halves of the year for Houston VC was the stages of the deals made. Most of Houston's larger deals took place in the first and second quarters — and even the beginning of Q3 — of 2020:

But the second half of the year seemed like Houston's earlier stage VC activity returned, and Blair Garrou, managing partner at Houston-based Mercury Fund, confirmed this to InnovationMap on the Houston Innovator's Podcast in December.

"Seed rounds have definitely bounced back. We're seeing a lot of seed activity, because there's been a lot of seed funds raised," Garrou said on the podcast, adding that he's observed an increase in angel investment interest. "People are realizing that money is in innovation and tech — especially in software."

In her report, Lalany found that in Houston, angel investments are out-pacing seed, creating a "competitive environment."

"The addition of multi-stage and nontraditional investment firms into the arena has created upward pressure in deal valuations and sizes. The average seed round in 2015 was $1 million, whereas today it's double that," the report reads. "With these firms turning inward to focus on protecting their current investments at the start of the pandemic, the propensity for smaller, more riskier investments have declined."

Stephanie Campbell, managing director of the Houston Angel Network, said she's seen a rise in new membership for the organization. Last August, she was on track to get to 150 members — up from just 60 in 2018.

"Despite COVID, we've continued to grow," Campbell told InnovationMap, adding that she's heard investors express that they have more time now to dive in. "People are very much still interested in learning about deploying their capital into early-stage venture. They're looking for a network of like-minded individuals."

In contrast to this early stage activity, the VC activity that was still occurring was defined by larger deals. With VC essentially halting in March and April — especially in cities like Houston, Garrou adds — it makes sense that investors wanted more "sure things" and would invest more funds into companies they already know, versus being able to source new deals in person.

"When you go to later stages, there are a lot fewer deals going on," Garrou continues on the podcast. "Now, there may be larger investments being made, but I think they are into fewer companies, and I think that's just due to the the pandemic and the ability just to not be able to do face-to-face."

As Houston moves through 2021, the city is poised well for more growth and a continued diversification from just oil and gas, as Moore says in the release.

"Houston Exponential was created four years ago by civic and business leaders to deal with an existential problem: our dependence on the energy and medical sector without a thriving startup culture to lead us towards a future that will look very different from the past," he says. "COVID and the de-carbonization movement have made that need much more urgent — it's both a huge challenge and an enormous opportunity."

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