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Houston rises in the ranks of best cities for veteran entrepreneurs

Houston is among the top cities for veteran entrepreneurs. Photo via Getty Images

Houston has moved up the ranks in an annual study of the top places in the U.S. for veteran entrepreneurs.

The study, conducted by the PenFed Foundation and Edelman Data & Intelligence, puts Houston at No. 5 among the best metro areas for veteran entrepreneurs. That’s up from No. 12 in the 2021 study.

The study cites Houston’s economic growth, support for veterans, strong employment, and low unemployment rate among veterans as factors favoring veteran entrepreneurs.

More than 300,000 military veterans live in the Houston area. That’s the second largest population of veterans in the U.S.

Due to the Houston area’s robust veteran population, Bayou City was chosen in 2018 as the site for the third local chapter of Bunker Labs, an accelerator and incubator for military-affiliated entrepreneurs.

At No. 1 in the study is Washington, D.C., followed by:

2. New York City
3. Seattle
4. Dallas-Fort Worth
5. Houston
6. Austin
7. Sioux Falls, South Dakota
8. Cleveland
9. Rapid City, South Dakota
10. Boston

Elsewhere in Texas, McAllen-Edinburg-Mission landed at No. 20 and San Antonio at No. 23.

The study analyzed four categories for each city: livability, economic growth, support for veterans, and ability to start a business. The study evaluated 390 metro areas.

“As the nation navigates the economic impacts of inflation, the study focused especially on how inflation impacts cities differently,” says the PenFed Foundation, established by PenFed Credit Union.

This is the third year for the study.

“We want to help cities across the United States understand which environments are best suited for military veterans to start and grow businesses, and inspire city leaders to take the actions needed to support veteran entrepreneurs,” James Schenck, president and CEO of PenFed Credit Union and CEO of the foundation, says in a news release.

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United Airlines is interested in buying Cemvita's sustainable aviation fuel when it's produced. Photo courtesy of Cemvita

An innovative Houston company is celebrating a new deal with a global airline.

Cemvita Corp. announced a new offtake arrangement with United Airlines. Cemvita's first full-scale sustainable aviation fuel plant will provide up to 1 billion gallons of SAF to United Airlines. The 20-year contract specifies that Cemvita will supply up to 50 million gallons annually to United.

It's not the first collaboration Cemvita has had with the airline. Last year, United invested in the biotech company, which used the funding to open its Houston pilot plant.

“Since our initial investment last year, Cemvita has made outstanding progress, including opening their new pilot plant – an important step towards producing sustainable aviation fuel,” United Airlines Ventures President Michael Leskinen says in a news release. “United is the global aviation leader in SAF production investment, but we face a real shortage of available fuel and producers. Cemvita’s technology represents a path forward for a potentially significant supply of SAF and it’s our hope that this offtake agreement for up to one billion gallons is just the beginning of our collaboration.”

Founded in Houston in 2017 by brother-sister team Moji and Tara Karimi, Cemvita's biotechnology can mimic the photosynthesis process, turning carbon dioxide into feedstock. The company's SAF plan hopes to increase reliability of existing SAFs and lower impact of fuel creation.

“Biology is capable of truly amazing things,” Moji Karimi, CEO of Cemvita, says in the release. “Our team of passionate, pioneering, and persistent scientists and engineers are on a mission to create sustainable BioSolutions that redefine possibilities.”

“We are thrilled to partner with United Airlines in working towards transforming the aviation industry and accelerating the energy transition,” he continues. “This agreement featuring our unique SAF platform is a major milestone towards demonstrating our journey to full commercialization.”

Earlier this year, United, which was reportedly the first airline to announce its goal of net zero carbon emissions by 2050, launched its UAV Sustainable Flight FundSM. The fund, which named Cemvita to its inaugural group of portfolio companies, has raised over $200 million, as of this summer.

Moji and Tara Karimi co-founded Cemvita in 2017. Photo courtesy of Cemvita

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This article originally ran on EnergyCapital.

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