Editor's note:Let's roundup the most-read Houston innovation news from the week. Trending Houston tech and startup articles from InnovationMap and its daily newsletter included an energy transition company securing its second fund, news of The Cannon Memorial's opening, and more.
17 Houston entrepreneurs named finalists in annual regional competition
The 17 finalists are competing for Ernst & Young’s Entrepreneur Of The Year 2024 Gulf South Award. Photo via Getty Images
Entrepreneurs from the Houston area have been named finalists for one of the region’s most prestigious business awards.
The 17 finalists are competing for Ernst & Young’s Entrepreneur Of The Year 2024 Gulf South Award. The Gulf South region includes parts of Texas, along with Louisiana and Mississippi.
An independent panel of judges selected the 48 finalists. Contenders were evaluated based on their demonstration of building long-term value through factors such as entrepreneurial spirit, purpose, growth, and impact. Continue reading.
Photos: The Cannon announces opening of newest location in Memorial
Introducing — The Cannon Memorial, which is opening its doors on Monday, May 13. Photo courtesy of The Cannon
The Cannon is gearing up to open its latest location featuring coworking and community events and programming.
The coworking concept, which announced The Cannon Memorial earlier this year, will officially open the new location on Monday, May 13, with a full week of community-focused events. The new location was developed in partnership with MetroNational, the real estate developer behind 300-acre mixed-use development in West Houston.
“MetroNational has long been recognized for offering exceptionally located, high quality, well amenitized office space,” says Anne Marie Ratliff, vice president of Asset Management at MetroNational, in a news release. “The Cannon Memorial diversifies our existing office portfolio to provide flexible space solutions for the evolving needs of the business community.” Continue reading.
Houston investment firm closes $1.5B fund to fuel energy transition
EnCap is ready to deploy growth capital to advance the energy transition. Photo via Getty Images
A Houston-based energy transition-focused growth capital firm announced the close of its second fund to the tune of $1.5 billion.
EnCap Energy Transition's Fund II, or EETF II, was created to invest in solutions to decarbonize the power industry, and invest in low carbon fuels and carbon management.This second energy transition fund follows EnCap Energy Transition Fund I, a $1.2 billion fund that deployed capital to seven material portfolio company investments and four fund realizations with Broad Reach Power, Jupiter Power, Triple Oak, and Paloma Solar & Wind.
Previously, the company made investment commitments to five portfolio companies through EETF II, including Bildmore Renewables, Linea Energy, Parliament Solar, Power Transitions, and Arbor Renewable Gas. Continue reading.
Houston health tech startup scores $2.5M SBIR grant to advance unique cell therapy AI technology
CellChorus created a visualization AI program that helps scientists to better understand the functioning of cells, including their activation, killing and movement. Photo via Getty Images
A Houston biotech company just announced a new award of $2.5 million.
CellChorus, a spinoff of the Single Cell Lab at the University of Houston, announced the fresh funding, which comes from an SBIR (Small Business Innovation Research) grant from the National Institute of Health (NIH) through its National Center for Advancing Translational Sciences (NCATS).
CellChorus is the business behind a technology called TIMING, which stands for Time-lapse Imaging Microscopy In Nanowell Grids. It’s a visualization AI program that helps scientists to better understand the functioning of cells, including their activation, killing and movement. Continue reading.
Houston makes top 10 list of metros with most millionaires
Must be nice to have a seven-figure income. Photo via Getty Images
Anew population analysis has unveiled an exclusive view into how the elite live in the U.S., including a surprising discovery that Houston-The Woodlands-Sugar Land has the No. 9 highest concentration of millionaire households in the country.
The study by online real estate marketplace Point2Homes compared household data among millionaires in the 30 biggest U.S. metropolitan areas, including four Texas metros, between 2017 and 2022.
The report found that the number of U.S. households that earned at least $1 million a year more than quadruped within the five-year period, with the highest concentration of millionaire households located in the New York-Newark-Jersey City area across New York, New Jersey, and Pennsylvania. Continue reading.