small biz Slam dunk

BBVA Compass and the Houston Rockets team up to launch revamped startup contest

The winner of the contest will be announced at a Rockets game in early April. Courtesy of Greater Houston Convention and Visitors Bureau

Houston startups have a chance at $10,000 thanks to the Houston Rockets and BBVA Compass' LaunchPad Contest. The application process begins on February 19 and concludes on March 5.

In its third installment, the contest is doing things a little differently this year. Previously, small businesses had to respond to questions about their organization and what they would do with the prize money. This year, with a special focus on startups, applicants are also being asked about using new technology to increase productivity.

"BBVA Compass is in a unique position and we want to leverage that to help elevate entrepreneurship through digital capabilities," says BBVA Compass Houston CEO Mark Montgomery in a release. "We are a leader in the financial industry's digital transformation, and have won multiple awards because of our innovative products and services in that realm. We want to create ample opportunities for a rising business through that industry-leading expertise. The Rockets are excellent teammates, and we are excited to unveil this new version of our collaborative contest with them."

Following the application process, BBVA and the Rockets will select four finalists before opening the contest up to fans to pick their favorite. The winner will then be announced at a game in early April. The winning company will receive, in addition to the $10,000, consultations with both BBVA and the Rockets executives.

"We are excited to partner with BBVA again for this annual contest," says Rockets Chief Revenue Officer Gretchen Sheirr in the release. "They have been best in class in their industry with their digital strategy, so it's fantastic that they will be providing an opportunity for other businesses to thrive in this space. We look forward to reviewing our fans' contest submissions and seeing the great work being done by startup businesses in our great city."

Last year's Launchpad winner was Buy On Purpose, according to a release. The office supply delivery company on the northside of town boasts same-day delivery and donates half its profits to organizations fighting human trafficking, clean water initiatives, and other causes.

Learn more about last year's winner here:

BBVA Compass and the Houston Rockets announce Buy On Purpose as its small business contest winner www.youtube.com

Within the next five years, Frankel believes that the technology they are using will evolve even more, perhaps to include holographic 3D models of homes they hope to build for their clients. Getty Images

For Frankel Building Group, the evolution of technology in the real estate and construction world was the next logical step in creating a sustainable and viable company. By incorporating technology into its client-based custom design and build firm through the use of a personal app and 3D renderings, co-president and principal Scott Frankel said Frankel Building Group is years ahead of the rest of the competition.

Frankel, who runs the company alongside his brother Kevin, described it as "a responsibility to do better and to show more."

"Our company, when I got here, was politely a little bit in the stone ages," Scott Frankel tells InnovationMap. "In order to be a customer facing business, and in order to compete in the market, we have learned to be a very technology-forward business. I would say out of every custom builder in the country, we are probably the most technology-reliant builder out there. That's a good thing."

The building group, which was started by 30 years ago by Scott and Kevin's father Jim, uses technology in every aspect of its projects.

Five to 10 years ago, builders would have to import designs into AutoCAD, a software that allows builders, engineers and architects to see their drawings in 3D form. Those AutoCAD drawings would then be printed and given to the homebuyer.

At Frankel Building Group, clients are able to login to an online portal that allows them to see every communication between them and the Frankel team, as well as building plans, updates, and digital 3D renderings of their homes. Everything from estimates to the latest updates from their assigned project manager are available to homebuyers from their phone.

"Our clients want that access," Frankel said. "If they don't get that access, they are going to be left with more questions than answers."

Frankel believes that they are only doing what the clients expect from a custom homebuilder: increasing communication through every means possible to make sure the client is satisfied with what the builder is doing.

"My brother and I are not huge technology guys," Frankel said. "We didn't come from this as framers who became custom builders. We came from a family that built custom homes and (using technology) only makes logical sense because it's something that makes it better. It's kind of like when you're banking with Chase and they came out with online banking — it just makes it better."

Within the next five years, Frankel believes that the technology they are using will evolve even more, perhaps to include holographic 3D models of homes they hope to build for their clients.

But, for now, Frankel Building Group is focused on growing their business one day at a time.

"Our focus is people in Houston who want to design and build that home for them on their property," Frankel said. "We just want to make sure we're putting the best product out there."