The Ion, the "innovation hub" that opened in Midtown earlier this year, is partnering with one of Austin's most active startup accelerators and venture capital investors to provide resources to local technology entrepreneurs.
Austin-based Capital Factory will offer programming, events and other resources to local startups and entrepreneurs from its Houston headquarters in The Ion, the two organizations announced Oct. 25.
Jan Odegard, executive director of The Ion, said he had long heard from Houston-based startups and entrepreneurs wishing they could connect with Capital Factory's resources without making the trip to Austin. Now, they can.
"Capital Factory is different than us because they're also an investor," Odegard said. "They invest in some of the startups they work with directly, which is kind of an interesting addition to our ecosystem."
Capital Factory has space on the second floor of The Ion, Odegard said. In 2020, Capital Factory grew its footprint in Houston significantly when it combined with Station Houston, one of the city's most prominent startup incubators. The combined organization — Station Houston, powered by Capital Factory — was expected to continue operating out of its existing digs at 1301 Fannin St. until construction on The Ion had been completed.
Capital Factory first entered the Houston market in December 2018 through a partnership with west Houston entrepreneurial coworking campus The Cannon.
Joshua Baer, founder and CEO of Capital Factory, said the organization's first public event at The Ion will be an open coffee followed by open coworking all day on Nov. 16.
"Capital Factory’s presence at The Ion will further expand the opportunities for startups and innovators in the Houston region, while strengthening an important pillar of the Texas Startup Manifesto," said Baer.
Capital Factory's Texas Startup Manifesto is its mission to unite the entrepreneurial ecosystems in the Lone Star State's four major metro areas — Houston, Dallas, Austin and San Antonio — to better recruit talent, fundraise and acquire customers.
Capital Factory announced an expansion into Port San Antonio in late September. Capital Factory will open its Center for Defense Innovation at the Tech Port Center and Arena, a new innovation center under construction at Port San Antonio. Located on the former site of the Kelly Air Force Base, Port San Antonio is home to over 80 tenants.
Capital Factory also has a presence in Dallas.
Since its founding in 2009, Capital Factory has raised more than $43 million, according to Austin Business Journal research.
Rice Management Co. developed The Ion, which includes coworking space for startups and corporate partners, in the former Sears building at 4201 Main St. in Midtown.
