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University of Texas ranks as one of the world's most innovative schools

The University of Texas System scooted up three spots from 2017. University of Texas at Austin/Facebook

A new ranking from Reuters has placed the University of Texas System among the world's most innovative universities.

According to an October 11 release, the Reuters Top 100: The World's Most Innovative Universities "identifies and ranks the educational institutions doing the most to advance science, invent new technologies and power new markets and industries." The UT System ranked No. 6 out of the 100 best in the world. The 2018 ranking is a jump up from its No. 9 spot in 2017.

In addition to the flagship University of Texas at Austin, the system is comprised of seven other public universities across the state as well as six health institutions. Reuters notes that because of how the UT System reports on innovation, it assessed the entire enterprise rather than individual universities.

As a whole, the UT System boasts an impressive number of accolades that helped it scoot up three spots. As Reuters notes, chief among these accolades is the National Science Foundation's $60 million grant to the Texas Advanced Computing Center at the University of Texas at Austin to build a supercomputer and the system's $2.7 billion in annual research expenditures. (Not to mention numerous Nobel Laureates among both faculty and alumni.)

Overall, the U.S. dominated the list, claiming 46 out of the 100 spots. Rounding out the top 10 for 2018 is: No. 1, Stanford University; No. 2, Massachusetts Institute of Technology; No. 3, Harvard University; No. 4, University of Pennsylvania; No. 5, University of Washington; No. 7, Belgium's KU Leuven, No. 8, U.K.'s Imperial College London; No. 9, University of North Carolina at Chapel Hill; and No. 10, Vanderbilt University.

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This story originally appeared on CultureMap.

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Building Houston

 
 

XSpace — a huge multi-use commercial condo concept — will be opening its Houston facility in the next few months. Rendering courtesy of XSpace

To some, Houston’s lack of zoning laws is a beautiful thing. The first time Byron Smith visited the city, he remarked on seeing a church, school, office building, and strip club all in startlingly close proximity.

At the time, the Sydney-born entrepreneur, whose previous experience was primarily in the automotive industry, was living in New York. But he fell in love with Space City.

“I was like, ‘We need to be in Texas,” he recalls, referring to expanding his next venture, XSpace, to the Lone Star State.

XSpace is a multi-use commercial condo building that allows entrepreneurs to own a home for their business.

“We’re a cool warehouse space that you own,” Smith explains, calling it “evolutionary space” where a business can grow from the roots up.

Though his family business was commercial real estate, Smith first dipped his toe into working with buildings with last year’s opening of the first XSpace in Austin. The city became “a natural fit” for the first project because Smith identified it as “a little bit more receptive to new things.” But Houston was part of the plan from the very beginning.

Located at 7022 Old Katy Road — close to both an escape room and an Aston-Martin dealership, among other diverse businesses — the Houston XSpace’s 86 units are already between 20- and 30-percent pre-sold, says Smith.

Rendering courtesy of XSpace

Confirmed owners of the spaces include “car guys,” such as a car-wrapping business; media companies that plan to podcast from XSpace; and an interior design company. Smith says that he’s been impressed with Houston’s depth of market.

“We’re trying really hard not to be rich-guy car condo stuff,” explains Smith. “It’s about cool, interesting people who are successful or are going to be successful.”

Though multiple businesses will all operate in XSpace, don’t think of it as a coworking space. In fact, coworking space is just a component included in the package of what owners get when they purchase part of XSpace. That’s inside the Owner’s Lounge, a flexible 4,000-square-foot area.

Each unit has natural light, but also metered electric and hot and cold running water. The whole facility is air-conditioned and well-ventilated and offers 24/7 access. The building is triple-gated for optimum security and includes a backup generator to ensure that owners will be able to work even in the case of another power grid failure.

Smith says that groundbreaking for XSpace will take place in seven weeks. Likely, owners will be able to start moving into the building in the summer of 2024. Until then, Smith says to expect some “sexy announcements” about upcoming partnerships and additional XSpace sites.

Though Smith says that global expansion isn’t yet in the plans for XSpace, “North American domination” is.

“All the cool cities, we’re going to be there,” he says. And it was all inspired by the coolest city of all and its eclectic business landscape.

Rendering courtesy of XSpace

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