Guest column

Houston expert: Why tech companies can benefit from building an ambassador ecosystem

Tech companies located in Houston should consider creating ambassador programs to leverage the deep bench of talent and experience locally. Photo via Getty Images

Innovation isn't born in a vacuum nor is the adoption of a new technology. Often the broader path to tech disruption is through groundwork and that's a system best laid by a well-connected network.

The urban megaregion that spans from Austin to San Antonio and Houston to Dallas comprises the largest single regional economy in the world. Furthermore, it is projected to expand its population density 65 percent to an astounding 10 million in the next two decades. In recent years, Houston's reputation has earned numerous nods as a growing tech hub, with many local startups employing entrenched talent from the specialized sectors a startup serves — for example, the digitization of oil and gas or maritime shipping.

Invigorated by its depth of industries including energy, the medical complex, transportation, real estate and education, Houston and its nearby economies are home to a vibrant presence of spirited entrepreneurs and tech-focused universities that are expected to keep pace with much anticipated growth. With nearly 3,000 startups and as the hub of major industries including oil and gas, health care and aerospace among others, the cross-pollinating capabilities of the city is nearly unlimited. Tech companies located here should consider creating ambassador programs to leverage the deep bench of talent and experience in Houston, and tap networking capabilities to drive value and adoption of their offerings.

All changes start small

Ambassador programs undertake the formalization of relationships with respective influencers in target industries to develop deep understanding and engagements with a company's product or service. Depending on the aim, an ambassador program can function similarly to an executive referral program with underpinnings to educate, promote, connect and incentivize adoption.

While each company's process may be unique, the general outcomes of ambassadorship can be shared. According to HubSpot, 90 percent of individuals believe brand recommendations from friends, 70 percent trust recommendations from other consumers, while a reported 71 percent are likely to make purchases based on social media referrals. By providing independent validation, a company's ambassadors can synergistically generate instant credibility that proliferates as an ecosystem expands. And therein lies the magic.

The first step in implementing an ambassador program is to identify relevant industry-specific enthusiasts to form initial connections or tap existing individuals that are particularly helpful or influential. Then create ongoing educational initiatives and offer certifications that reflect company objectives; as a company scales, it's offerings to an ambassador audience should mature to accommodate the company's growth.

Ambassador programs are often built atop reward referral programs to further incentivize knowledge transfership within a community and to galvanize opportunities. With the quality and quantity of companies and industries in the Houston area, a robust intercompany ambassadorship presence can create an enriching environment, generating a breadth of advocates who can spread the word and play an integral role in achieving wider success for the company.

Value begets value

Collectively, startup culture has a history of competition but also of coopetition. While evangelizing tech solutions, the bigger play at hand for ambassadors is to create a robust network that embodies passion, positivity, adoption of valuable technology and the most critical aspect: community.

Change needs a channel to cut its new grooves on, and a knowledgeable ambassador network primed to mutually drive engagement and community around a startups' brand is one of the fastest methods to do just that while also building fruitful relationships for now and into the future.

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Andrew Bruce is the founder and CEO of Data Gumbo.

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Building Houston

 
 

Tvardi Therapeutics Inc. has fresh funds to support its drug's advancement in clinical trials. Photo via Getty Images

A Houston-based clinical-stage biopharmaceutical company has raised millions in its latest round.

Tvardi Therapeutics Inc. closed its $74 million series B funding round led by new investors New York-based Slate Path Capital, Florida-based Palkon Capital, Denver-based ArrowMark Partners, and New York-based 683 Capital, with continued support and participation by existing investors, including Houston-based Sporos Bioventures.

"We are thrilled to move out of stealth mode and partner with this lineup of long-term institutional investors," says Imran Alibhai, CEO at Tvardi. "With this financing we are positioned to advance the clinical development of our small molecule inhibitors of STAT3 into mid-stage trials as well as grow our team."

Through Slate Path Capital's investment, Jamie McNab, partner at the firm, will join Tvardi's board of directors.

"Tvardi is the leader in the field of STAT3 biology and has compelling proof of concept clinical data," McNab says in the release. "I look forward to partnering with the management team to advance Tvardi's mission to develop a new class of breakthrough medicines for cancer, chronic inflammation, and fibrosis."

Tvardi's latest fundraise will go toward supporting the company's products in their mid-stage trials for cancer and fibrosis. According to the release, Tvardi's lead product, TTI-101, is being studied in a Phase 1 trial of patients with advanced solid tumors who have failed all lines of therapy. So far, the drug has been well-received and shown multiple durable radiographic objective responses in the cancer patients treated.

Dr. Keith Flaherty, who is a member of Tvardi's scientific advisory board and professor of medicine at Harvard Medical School, offered his support of the company.

"STAT3 is a compelling and validated target. Beyond its clinical activity, Tvardi's lead molecule, TTI-101, has demonstrated direct downregulation of STAT3 in patients," he says in the release. "As a physician, I am eager to see the potential of Tvardi's molecules in diseases of high unmet medical need where STAT3 is a key driver."

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