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Venture Capital News - Venture Capital News Headlines

Venture Capital News - Venture Capital News Headlines

Texas Startup Funding Declines in 2024: Are AI Investments the Culprit? Texas startup funding has experienced a noticeable decline in 2024, particularly in the Austin metro area, despite a slight overall increase in U.S. venture funding, driven by AI investments. The state’s startups have secured just over $3 billion this year, indicating a drop from previous years. Notably, AI startups in Texas have received less than 10% of the funding, with the majority directed towards Saronic, an AI-enabled autonomous sea vessel developer. However, amidst the AI sector's underperformance, several Texas-based companies have managed to secure substantial investments. Fervo Energy, a carbon-free geothermal power provider, raised $244 million, while NinjaOne, an endpoint security platform, received $232 million in a Series C round. Island, an enterprise browser developer, also garnered a significant investment of $175 million at a $3 billion valuation, and Solutions by Text, a financial services company, secured $110 million. While the funding decline may portray a negative trend, there remains optimism for future growth. Promising startups scaling up and potential entry into the IPO market could spur a resurgence. Furthermore, the relocation or planned relocation of companies like Tesla and SpaceX to Texas holds the potential to invigorate the state's startup ecosystem. # Thank you Antonio Ramirez for your submission!

New Post: SBA Expands Disaster Loan Assistance to Texas Nonprofits in 58 Counties - https://lnkd.in/gTBwgCwF - The U.S. Small Business Administration (SBA) has announced amendments to the disaster declaration for Texas, enabling low-interest federal disaster loans for private nonprofit organizations in 58 counties. This follows President Biden’s May 23 major disaster declaration for Public Assistance due to severe storms, straight-line winds, tornadoes, and flooding that occurred between April 26 and June 5. SBA Administrator Isabella Casillas Guzman emphasized that nonprofits providing essential services of a governmental nature are now eligible for assistance. Eligible counties include Anderson, Austin, Baylor, Bell, Bosque, Brown, Caldwell, Calhoun, Clay, Cochran, Coke, Coleman, Concho, Cooke, Coryell, Delta, Eastland, Falls, Fannin, Freestone, Grimes, Hamilton, Hardin, Harris, Henderson, Hockley, Houston, Jasper, Kaufman, Lamar, Lampasas, Lee, Leon, Liberty, Limestone, Lynn, Madison, Milam, Mills, Montgomery, Newton, Panola, Polk, Robertson, Rockwall, Rusk, San Augustine, San Jacinto, San Saba, Shelby, Sterling, Terrell, Trinity, Tyler, Van Zandt, Walker, Waller, and Washington. Francisco Sánchez Jr., associate administrator for the SBA’s Office of Disaster Recovery and Resilience, advised private nonprofit organizations to contact the Texas Division of Emergency Management Recovery Division for information on applicant briefings. These briefings will require nonprofits to provide details about their operations. FEMA will use this information to determine if the organization provides an “essential governmental service” and qualifies as a “critical facility.” If eligible, FEMA may grant Public Assistance funds to cover costs. The SBA encourages all private nonprofits to apply for disaster loan assistance as well. The SBA may offer loans of up to $2 million to repair or replace damaged or destroyed property, machinery, equipment, inventory, and other business assets. Additional funds can be lent for improvements to prevent future disaster damage. Economic Injury Disaster Loans are also available to address working capital needs, such as fixed debts, payroll, accounts payable, and other bills impacted by the disaster. These loans are available regardless of whether the organization suffered property damage. The interest rate for these loans is set at 3.25% with terms extending up to 30 years. The deadline to apply for property damage assistance is July 22, 2024, while the deadline for economic injury applications is February 24, 2025. Importantly, interest does not accrue until 12 months from the first loan disbursement, and repayment also begins 12 months after the first disbursement. Applicants can apply online and find more information at SBA.gov/disaster. Additional assistance is available through SBA’s Customer Service Center at (800) 659-29

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Empowering small businesses in Houston: The 5 Cs of success and the role of community Houston Business News - Local Houston News | Houston Business Journal PGG Page

Aspiring entrepreneurs in Texas can navigate the startup process with a well-structured plan. Research your industry and create a comprehensive business plan outlining goals, target audience, financial projections, and marketing strategy. 'Choose the right legal structure, such as sole proprietorship, partnership, limited liability company

Venture Capital News - Venture Capital News Headlines