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

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Building Houston

 
 

5G could be taking over Texas — and Houston is leading the way. Photo via Getty Images

Based on one key measure, Houston sits at the forefront of a telecom revolution that could spark a regional economic impact of more than $30 billion.

Data published recently by the Texas Comptroller's Office points out that as of last November and December, Houston led all cities in Texas for the number of so-called "small cells." Small cells are a key component in the rollout of ultra-high-speed 5G wireless communication throughout the Houston area and the country.

As the Texas Comptroller's Office explains, small cells are low-powered antennas that communicate wirelessly via radio waves. They're usually installed on existing public infrastructure like street signs or utility poles, instead of the big communication towers that transmit 4G signals.

The comptroller's tally shows Houston had approved 5,455 small-cell sites as of the November-December timeframe. That dwarfs the total number of sites (1,948) for the state's second-ranked city, Dallas.

"Houston is in the vanguard of small cell permitting in Texas, and not just because it's the state's largest city; advocates have lauded its proactive approach to 5G. Other cities, particularly smaller ones, are lagging well behind," the Comptroller's Office notes.

According to CTIA, a trade group for the wireless communications industry, 5G holds the promise to deliver an economic impact of $30.3 billion in the Houston area and create 93,700 jobs. The group says industries such as health care, energy, transportation, e-commerce, and logistics stand to benefit from the emergence of 5G.

"Maintaining world-class communications infrastructure is a requirement for success in a rapidly changing global economy. Small cells and fiber technology are the key foundational components for network densification and robust 5G. Cities like Houston that have embraced the need for this infrastructure will see the benefits of 5G faster than others," Mandy Derr, government affairs director at Houston-based communications infrastructure REIT Crown Castle International Corp. and a member of the Texas 5G Alliance, tells InnovationMap.

Derr says leaders in Houston have embraced the importance of small-cell technology through "reasonable and effective" regulations and processes aimed at boosting 5G capabilities. Three major providers of wireless service — AT&T, T-Mobile, and Verizon — offer 5G to customers in the Houston area.

"More small cells and fiber provide greater and faster access for the masses, enabling the connectivity that is essential to our businesses today — whether it's accepting payments on a mobile card reader, completing a sale on the go, or reliably reaching consumers where they are," Derr says.

In a blog post, Netrality Data Centers, which operates a data center in Houston, proclaims that Houston is shaping up to be a hub of 5G innovation.

"Houston has always been on the frontline," Mayor Sylvester Turner said during a 5G roundtable discussion in 2019. "It is who we are. It is in our DNA. We are a leading city. We didn't wait for somebody else to go to the moon. Or to be the energy capital of the world. Or the largest medical center in the world. But you don't stay at the front if you don't continue to lead."

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