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5 most popular innovation stories in Houston this week

ABB Robotics' new space in the TMC Innovation Institute premiered this week — plus more top stories in Houston innovation. Courtesy of TMC

It was a busy week for people — as well as robots — in the Houston innovation ecosystem.

From a news roundup with funding, academic awards, and more to robots moving in at the Texas Medical Center and the second episode of the Houston Innovators Podcast dropping, here are this week's trending innovation news stories. Check them out if you missed them.

3 Houston innovators to know this week

NASA technology is up for grabs and InnovationMap has a new podcast — here are some innovators to know this week. Courtesy photos

Another Monday means another weekly roundup of who's who in Houston innovation.

This week, we have our first Houston Innovators Podcast guest to feature, as well as a NASA expert who wants to loan you space technology. Click here to continue reading.

Investment group director calls for more startup funding out of Houston

Samantha Lewis is the director at The Goose Society of Texas. Courtesy of Samantha Lewis

A key factor in growing an innovation ecosystem is having the funds to fuel startup growth. Samantha Lewis, director for The GOOSE Society of Texas — a local group of investors — and an entrepreneur herself, is calling on the city's players to help move the needle.

"We have to think about getting more capital available for companies that add strategic value to Houston," Lewis says on the second episode of the Houston Innovators Podcast. Click here to read more and listen to the podcast.

Videos: Robotics company unveils its Houston operation at the Texas Medical Center

ABB's mobile YuMi robot cut the ribbon on its new home in the Texas Medical Center. Cody Duty/TMC

Houston has a new fleet of robots training to better streamline health care operations. ABB Robotics cut the ribbon of its Texas Medical Center incubator on Wednesday, October 9.

"This is really an exciting day for us at ABB because we are opening up our innovation hub in a globally unique place at the Texas Medical Center," says Sami Atiya, president of Robotics and Discrete Automation at ABB, at the grand opening event. Click here to continue reading and view videos of the robots.

Houston health tech company raises $8M, former WeWork exec has a new gig, UH programs recognized, and more innovation news

UH's business school has been recognized for innovation and entrepreneurship. Photo via bauerticker.uh.edu

Hitting headlines this month are innovation news stories from sustainability and education to funding and startup competitions.

In this innovation news roundup, two health-focused startups raise money, the University of Houston earns two pats on the back, a Houston-based former WeWork exec joined the C-suite of a sustainable clothing company, and more. Click here to read more.

5 investor red flags to look out for, according to this University of Houston expert

Keep an eye out for these warning signs when looking for funding. Miguel Tovar/University of Houston

Venture capitalists give you plenty of reason to be on the look out for investor red flags.

In The Parable of the Scorpion and the Frog, the frog entrusts the scorpion not to sting it while it helps the scorpion cross a lake. The scorpion promises not to sting the frog, reasoning that both would drown. The scorpion stung the frog anyway. As a result, both drowned. The moral of the story is that a scorpion, like any animal, is true to its nature. Click here to continue reading.

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Building Houston

 
 

this one's for the ladies

Texas named a top state for women-led startups

A new report finds that the Lone Star State is ideal for female entrepreneurs. Photo via Getty Images

Who runs the world? According to Merchant Maverick's inaugural Best States for "Women-Led Startups'' study, Texas is a great place for women to be in charge.

The Lone Star state cracked the top 10 on the list, earning a No. 6 spot according to the small business reviews and financial services company, which based the study on eight key statistics about this growing segment of the economy. Colorado (at No. 1), Washington, Virginia, Florida, and Montana were the only states to beat out Texas on the rankings—leading the Merchant Maverick team to conclude that "the part of the country that lies west of the Mississippi is great for startups led by women entrepreneurs."

Women-led startups in Texas received $365 billion in VC funding in the last five years, the report found. This is the seventh largest total among U.S. states. Too, about 20 percent of Texans are employed at woman-led firms, which is the fifth highest percentage among states. Roughly 35 percent of employers in Texas are led by women.

A few other key findings that work in female founders' favor: The startup survival rate in Texas is nearly 80 percent. And a lack of state income tax "doesn't hurt either," the report says.

Still there are shortcomings. On a per capita basis, only 1.27 percent of Texas women run their own business. The average income for self-employed women is also relatively low ranking among states, coming in around $55,907 and landing at 31st among others.

This is not the first time Texas has been lauded as a land of opportunity for women entrepreneurs. A 2019 study named it the best state for business opportunities for women. Houston too has proven to support success for the demographic. The Bayou City was named in separate studies a best city for female entrepreneurs to start a business and to see it grow.

Still, as many findings have concluded, the realities of the pandemic loom for all startups and small business owners. The Merchant Maverick study was careful to add: "The pandemic has changed the economic landscape over the past year, and often for the worse.

"This means that not every metric may be able to accurately gauge how a state might fare amidst the pandemic," the report continues. "To help factor in COVID's impact, we included some metrics that take 2020 into account, but it will be a while until we get a full picture of the pandemic's devastation.""

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