Climate-tech startup incubator Greentown Labs wants to make sure Houston remains a powerhouse in the energy industry — and it's doubling down on the next generation of entrepreneurs to do so.
That's why on Oct. 27 Somerville-based Greentown Labs launched the Texas Entrepreneurship Exchange for Energy, TEX-E — an initiative aimed at creating a student-driven entrepreneurship ecosystem in Houston, with a focus on energy innovation.
"Houston has long been known as the energy capital of the world, but to lead the world's energy transition, the city must create a strong, vibrant innovation ecosystem to support the next generation of entrepreneurs and energy companies," said Lara Cottingham, chief of staff at Greentown Labs. "TEX-E will build upon Texas universities' deep and long-standing connections to the energy industry by helping to attract and retain the world-class talent needed to supercharge Houston's innovation ecosystem."
TEX-E is a collaborative effort between Greentown Labs, Massachusetts Institute of Technology’s Martin Trust Center for Entrepreneurship — a center that provides expertise, support, and connections for MIT students — and five Texas universities including Rice University, Texas A&M University, Prairie View A&M University, the University of Houston and the University of Texas at Austin.
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Students who participate will have access to mentorship with Greentown Labs’ climate-tech entrepreneurs, networking events, career opportunities and cross-learning with MIT. Included in the cross-learning is a TEX-E energy venture short course that was previously held at Greentown Labs Houston this fall.
"The TEX-E collaboration will provide valuable opportunities to our students, and Houston is a natural location to create such an ecosystem," said Ramanan Krishnamoorti, vice president for energy and innovation at the University of Houston. "Training new talent and supporting their pursuit of innovative ideas are vital in addressing the growing global need for affordable, reliable, and environmentally sustainable energy."
According to the Greater Houston Partnership, Greentown Labs Houston attracted over 60 startups — including several that relocated from outside of the U.S. — during its first year. From 2017 to 2021, Houston’s venture capital funding totaled more than $327 million for the energy space. The Houston-area has more than 4,700 energy-related firms.
Ben Soltoff, ecosystem builder and entrepreneur in residence at the Martin Trust Center for MIT Entrepreneurship, said when MIT startups need to scale up, they look to Texas for talent, space and industry.
Greentown Labs Houston repurposed a former Fiesta grocery store in Midtown for its local facility. With 40,000 square feet, the building holds a prototyping lab, office space and community space. Rice Management Co. owns the site and developed it as part of the 16-acre innovation district anchored by The Ion.
"Rice University is extremely excited to be part of this important initiative," said Yael Hochberg, head of the Rice Entrepreneurship Initiative and the Liu Idea Lab for Innovation and Entrepreneurship. "MIT Trust Center has been a leader in this space for years, and the collaboration between our Texas universities and their experience and knowledge is a tremendous opportunity to help Texas lead the way in the energy transition space."
