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Accelerator program executive to connect the dots within Houston's innovation ecosystem

Yvette Casares Willis leads partnerships for MassChallenge Texas. Courtesy of MassChallenge

For Yvette Casares Willis, Houston already has what it takes to be a strong innovation ecosystem. Now, it's about working together to get the city where it needs to be, and MassChallenge hopes to do that with its new chapter in Houston.

"I'm excited about what Houston has to offer," says Willis, who is the director of partnerships for the organization. "We have everything we could possibly provide in this ecosystem to be amazing, as long as we all work together. If we can all collaborate and if we all have the same mission, we can really make a difference in Houston."

MassChallenge Texas announced its new Houston program in January. Applications for the inaugural cohort will be officially open as of tonight's launch party for the program. The organization, which has locations around the world, looks for early stage startups that haven't raised more than $500,000 in equity-based funding and have generated less than $1 million in revenue over the past year. The cohort will support 25 startups with free GreenStreet office space, mentorship, investment opportunities, and more, all the while taking no equity in the companies.

Willis has been the organization's boots on the ground in Houston, since MassChallenge Texas is run out of Austin. She spoke with InnovationMap about what MassChallenge's Houston program means to her and the city.

InnovationMap: Why did the city need something like this?

Yvette Casares Willis: We're a little unique to what Houston already has. Houston has a lot of great organizations, but MassChallenge is unique in the fact that we're industry agnostic, we're a nonprofit, and we offer a different business model to be added into the local ecosystem.

IM: Having worked in Houston, what do you feel you bring to the table for MassChallenge?

YCW: My role covers the entire state, but I have been boots on the ground for MassChallenge in Houston and it's been exciting to bring this to where I'm from. I have over 20 years in the Houston market in the corporate environment — my background is in professional sports and entertainment.

IM: As the director of partnerships for MassChallenge, what have you been able to accomplish?

YCW: In the last 10 months, I've been able to meet with several community and corporate partners to talk about MassChallenge. I've seen a lot of excitement. We're working on collaborating, so that when we do have our cohort, we can provide them with the best opportunities to partner with the community and corporations."

IM: What are you most excited about for Houston's MassChallenge program?

YCW: I feel like Houston has all of the best ingredients to be an amazing ecosystem. MassChallenge is going to play a big part of bridging all of the different organizations together. I see that everything is here, but it needs to come together, and I think MassChallenge is really good at doing that wherever they are.

IM: What's next for MassChallenge?

YCW: In my role, when I talk to other organizations, I see a lot of interest between collaborations between Houston and other cities in Texas, but I also see a lot of excitement globally. Houston's a global city and a lot of people are excited about the network MassChallenge has around the world.

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Portions of this interview have been edited.

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Building Houston

 
 

A Houston startup that created a remote monitoring and care platform has raised millions in financing. Image via michealthcare.com

A virtual health care and analytics provider startup has closed its latest round of funding for a total of $27 million in financing.

Medical Informatics Corp. closed a $17 million series B co-led by Maryland-based Catalio Capital Management and California-based Intel Capital. The financing also includes an additional $10 million in debt led by Catalio through Catalio’s structured equity strategy, according to a news release.

“We are excited to have had this round co-led by Catalio and Intel Capital," says Emma Fauss, CEO and co-founder of MIC, in the release. "Catalio brings significant financial and technical resources, while Intel Capital possesses strong operational and industry experience, and we look forward to continuing to leverage both firms’ expertise as we continue to scale.”

MIC created an FDA-cleared virtual care platform, called Sickbay, that gives health care providers and hospitals away to remotely monitor patients in any setting with vendor-neutral real-time medical device integration, workflow automation and standardization.

“We have seen an increased demand for our solution as our clients face significant staffing challenges and are looking for ways to amplify and empower their workforce," Fauss says in the release. "Some of the largest health care systems in the country are standardizing their infrastructure on our Sickbayplatform while consolidating IT spend."

Other participants in the round included new investors TGH Innoventures, Tampa General Hospital’s innovation center and venture fund, and Austin-based Notley — as well as existing investors San Francisco-based DCVC, the Texas Medical Center, and nCourage, a Houston-based investment group.

As a part of the round, two individuals from Catalio will join the board at MIC. Jonathan Blankfein, principal at Catalio will join the board of directors, Diamantis Xylas, head of research at Catalio, will join as board observer.

“Health care systems’ need for high-caliber, cost-saving, data-driven technology is only going to increase, and MIC’s proprietary platform is perfectly positioned to address some of the most critical clinical challenges that health care organizations face,” says Blankfein in the release. “We look forward to continuing to support MIC’s strong team as it continues to deliver better outcomes for health care organizations and patients alike.”

Amid the pandemic and the rising need for remote care technology, MIC scaled rapidly in the past two years. The company will use the funding to continue fueling its growth, including hiring specialized talent — deep product specialists and client engagement teams — to support long-term strategic partnerships.

“One of the main barriers to advanced analytics in health care is the siloing of data and today there is a significant need for a platform to enable flexible, centralized and remote monitoring at scale and on demand,” says Mark Rostick, vice president and senior managing director at Intel Capital, in the release. “Medical Informatics is setting a new standard of health care by removing these data silos for health care providers of all sizes and transforming the way patients are monitored from hospital to home with real-time AI.”

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