The city of Houston awarded over $30,000 in seed funding on Nov. 5 to the winning entrepreneurs in the 10th annual Liftoff Houston pitch competition event.
The winners of the three categories were:
- Service: ActiVate Drip Spa, pitched by Natasha Roberts, provides “medical-grade” IV drip formulas for recovery purposes.
- Product: Re.Statement, pitched by Hannah Le, which recycles old fashion into new, artistic clothes.
- Innovation: Maritime XR, pitched by Aditya Aggarwal, which supplements existing maritime training with virtual reality simulations.
Aggarwal told the Houston Business Journal he had heard of the competition through a newsletter from the city's Office of Business Opportunity, and said the funding would go a long way in establishing Maritime XR.
"I really don't have words for how important this program is," Aggarwal said. "This shows how much faith the city has in local businesses, small businesses and especially the startup sector. This is something anyone in the city limits can apply for, and I think it is a priceless resource."
The competition opened on July 27, and nine finalists were chosen from over 160 applicants, the city of Houston announced before the event.
“I commend all Liftoff Houston participants, including this year’s finalists, for taking important steps to achieve financial mobility and to serve their communities through entrepreneurship,” Mayor Sylvester Turner said ahead of the Nov. 5 selections. “For the past 10 years, this competition has awarded more than $275,000 in seed money to Houstonians with dreams of starting their own business, and this has all been possible with the unwavering support of Capital One Bank.”
Marsha Murray, the director of the city of Houston's Office of Business Opportunity, said the finalists impressed the judges "with their enthusiasm and the caliber of their business plans."
"As they launch and grow their businesses, they will undoubtedly contribute to Houston's local economy by creating jobs and providing local communities with quality goods and services," Murray said.
In a statement to the Houston Business Journal, Marvett Howard, a principal associate with event sponsor Capital One, said the bank was "proud to use [its] scale and resources" to support upcoming businesses.
"At Capital One, we know that when small businesses start and thrive, they create jobs, strengthen the local economy and attract talent and investors," Howard said.
Previous winners include Apurva Sanghavi, the co-founder of Houston coworking space Start Houston, for his product Throttle, which analyzes financial accounts and builds plans to help them save money, and 2019 Houston Business Journal 40 Under 40 honoree Henry Keculah, CEO of career education startup 4.0 GPA.
