Ion Executive Director Jan Odegard retires, releases impact report

Update: A statement from Rice University has been added to this story.

A longtime leader at Rice University and the Ion’s first executive director has stepped down from his roles.

Jan Odegard said in a June 2 LinkedIn post that he was leaving both the university and the incubator effective May 31. Odegard has been with Rice for over 25 years and has led the Ion since its creation and 2021 opening.

“It’s a bittersweet moment — I always knew that, given the right opportunities, I would retire from Rice, but I envisioned a few more years and a different path to that finish line,” Odegard wrote in his post.

Odegard is currently listed on the website for San Francisco-based venture capital firm VU Venture Partners as a venture investor.

Rice University said that Odegard's role as executive director changed in January 2024. In a statement to the Houston Business Journal, the university said it did not have any plans to share regarding a replacement executive director.

"We wish Dr. Odegard well on his future endeavors, and while he will not have an official role at the Ion, he will remain a valuable thought leader in our innovation ecosystem. We thank him for laying the foundation for the Ion’s future success," the university said in its statement.

Rice also confirmed that Brad Burke, appointed in early 2024 as associate vice president for industry and new ventures at the Office of Innovation, has been responsible for programming at the Ion since January 2024.

In his departure post, Odegard also shared the Ion’s 2020-2023 impact report. The report said that as of Dec. 31, 2023, the Ion housed over 300 companies, including both small businesses and larger corporations. The incubator landed $25 million in venture funding and grant support in 2022-2023.

A rendering of the proposed Ion District is also included in the report, confirming the district has opened a new parking garage alongside the Ion building and Greentown Labs at 4200 San Jacinto St. Further phases are intended to add retail offerings and outdoor space to the district as part of a vision that Odegard outlined to make the Midtown area a place to live, work and play.

Meanwhile, Rice University hired a new president for its management company, Rice Real Estate Co., in April. Ken Jett joined from Houston-based Hines, where he was most recently the managing director of the Hines US Direct Investments private placement platform.

Paul Cherukuri, Rice’s chief innovation officer, told the HBJ in an April interview that Rice Real Estate Co. is now included in the university’s operating budget and that several new projects are in the works, though he could not disclose their status.

"It's safe to say that Rice is leaning into the Ion. We want to actually drive forward the rest of the phases of growth that we have imagined in the Ion, and so we'll keep doing that," Cherukuri said.

Odegard’s departure follows the exit of Somerville, Massachusetts-based Greentown Labs CEO Kevin Knobloch, who left after less than a year on the job. An expansion of Greentown Labs' Midtown space is part of the Ion District master plan. An LLC with a Rice University mailing address has acquired adjacent parcels to the building at 4200 San Jacinto St., according to the Harris Central Appraisal District.

This article has been updated with a comment from Rice University.

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