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Jan. 31 was the last day of operation at the 26K SF Houston Technology Center in Midtown. The accelerator laid off five directors and the facility's support staff, folding the program back into Houston Exponential, a nonprofit formed by the Houston Technology Center last October. Backed by the Greater Houston Partnership and the Mayor's Technology & Innovation Taskforce, the program aims to create 10,000 new tech jobs in Houston and secure $2B in venture capital by 2022.
"It was just looking at HTC and assessing: Is this the right model in 2018?" Houston Exponential's Head of the Acceleration Strategy Committee, Michael Sklar, told the Houston Chronicle. "Is this the right model going forward?"
Around 65 startups using Houston Technology Center will now need a new home. Houston's startup ecosystem is rising to fill the gap. The Texas Medical Center Innovation Institute is offering HTC’s life sciences clients free co-working space for three months while Station Houston is offering a three-month discount, the Houston Chronicle reports.
Since its inception in 1999, more than 1,300 startups have received assistance or coaching from Houston Technology Center.
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