Houston: Startups And Tech Hub

startups and tech hub

As 2022 begins, Houston is a dynamic startups and tech hub. 

During the first pandemic wave, Texas promoted convenient incentives for innovative tech projects. As a result, Houston has become a vibrant startups and tech hub. According to the 2021 STEM Job Growth Index, Austin, Dallas and Houston are the best US cities for growing fields like science, technology, engineering, and math.

One of the latest examples is the partnership between Data Gumbo and Equinor Ventures. The global energy company Equinor supported the industrial blockchain-software-as-a-service company with a $7.7 million Series B round.

Partnerships In The Startups and Tech Hub:

In short, the Houston-based company provides smart contract automation and execution, reducing: 

  • Contract leakage
  • Frees up working capital
  • Real-time cash 
  • Financial management
  • Delivers provenance with unprecedented speed, accuracy, visibility, and transparency

As Data Gumbo CEO Andrew Bruce said: “Equinor is an industry trailblazer. We demostrate the true value of our international smart contract network to improve and automate manual processes. And bring trust to all parties. Smart contracts are playing a critical role in driving the energy industry forward. Our work with Equinor clearly demonstrates the benefits that supermajors. And their supply chain customers, partners, and vendors experience by automating commercial transactions. We are proud to continue our work with Equinor to help them realize the savings, efficiencies and new levels of transparency available through our smart contract network.”

And Equinor Senior vice-president Erik Kirkemo added: “We piloted Data Gumbo’s smart contracts for offshore drilling services in 2019. Since then, we have worked with the company to continually refine and improve use cases. We now have the potential to expand Data Gumbo’s smart contract network to enable transactional certainty across our portfolio from the Norwegian Continental Shelf to our Brazilian operated assets and beyond. GumboNet reduces inefficiencies and processing time around contract execution in complex supply chains, which is a problem in the broader industry, and we look forward to realizing the streamlined process and cost savings of its rapidly expanding smart contract network.”

As the new years begin, Houston is one of the most dynamic startups and tech hubs. 

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