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 a roundup of events not to miss, a new CEO for an innovative energy tech company, and more.
Exclusive: Houston hydrogen spinout names energy industry veteran as CEO
Prabhdeep Singh Sekhon, who previously held roles at companies such as NextEra Energy Resources and Hess, was named CEO of Gold H2. Photo courtesy of Golf H2
Cleantech startup Gold H2, a spinout of Houston-based energy biotech company Cemvita, has named oil and gas industry veteran Prabhdeep Singh Sekhon as its CEO.
Sekhon previously held roles at companies such as NextEra Energy Resources and Hess. Most recently, he was a leader on NextEra’s strategy and business development team.
Gold H2 uses microbes to convert oil and gas in old, uneconomical wells into clean hydrogen. The approach to generating clean hydrogen is part of a multibillion-dollar market. Continue reading.
10+ can't miss Houston business and innovation events for May
Don't miss these May events — from expos and conferences to panels and pitch days. Photo via Getty Images
From pitching competitions to expert speaker summits, May is chock-full of opportunities for Houston innovators.
Here's a roundup of events you won't want to miss out on so mark your calendars and register accordingly. Continue reading.
Houston innovation leaders secure SBA funding to start equitability-focused energy lab
Impact Hub Houston partnered with Energy Tech Nexus to establish the Equitable Energy Transition Alliance and Lab to accelerate startup pilots for underserved communities. Photo via Getty Images
A group of Houston's innovation and energy leaders teamed up to establish an initiative supporting equitability in the energy transition.
Impact Hub Houston, a nonprofit incubator and ecosystem builder, partnered with Energy Tech Nexus to establish the Equitable Energy Transition Alliance and Lab to accelerate startup pilots for underserved communities. The initiative announced that it's won the 2024 U.S. Small Business Administration Growth Accelerator Fund Competition, or GAFC, Stage One award.
"We are incredibly honored to be recognized by the SBA alongside our esteemed partners at Energy Tech Nexus," Grace Rodriguez, co-founder and executive director of Impact Hub Houston, says in a news release. "This award validates our shared commitment to building a robust innovation ecosystem in Houston, especially for solutions that advance the Sustainable Development Goals at the critical intersections of industry, innovation, sustainability, and reducing inequality." Continue reading.
Houston organization launches virtual accelerator, seeks 10 biotech startups
Calling all biotechnology startups. Photo via Getty Images
A Houston organization — freshly funded by a $700,000 U.S. Economic Development Administration’s “Build to Scale” grant — is seeking its first accelerator cohort of industrial biology startups.
Founded by Houston-based First Bight Ventures, the BioWell has launched a virtual accelerator program that will provide programming, networking, mentorship, and financial resources to its inaugural cohort of 10 bioindustrial startups. The selected companies will also have access to specialized pilot bioproduction infrastructure throughout the nine-month program.
“BioWell equips startups with more than just capital. We provide a foundation for breakthrough innovations by combining access to cutting-edge bioproduction facilities with expertise that nurtures scalability. This comprehensive support is crucial for transforming pioneering ideas into market-ready solutions that can address pressing global challenges,” Carlos Estrada, head of venture acceleration at BioWell, says in a news release. Continue reading.
Report: Houston's VC trends so far in 2024 and what to watch for the rest of the year
Geothermal investment is up, but health tech is down — plus more data-backed VC trend from 2024 so far. Photo via Getty Images
Houston-based geothermal company Fervo Energy accounted for more than half of the venture capital raised by Houston-area startups in the first quarter of 2024.
The region’s VC haul in the first quarter totaled $462.4 million, according to the PitchBook-NCVA Venture Monitor. That’s up from $290.4 million during the same period in 2023 and from $285.8 million in the fourth quarter of last year. Click here to see the Q1 rounds as reported by InnovationMap.
Fervo’s latest funding round, announced in February, represented $244 million (52 percent) of the region’s VC total for the first quarter of 2024. Continue reading.