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Impact-driven Houston fintech startup officially launches after successful beta

DonateStock, a Houston fintech company that simplifies the stock donation process, has officially launched. Image courtesy of DonateStock

Today is National Nonprofit Day, and there are a lot of ways to celebrate it — sign up to volunteer, donate to your favorite organization, and more. But Andrea Young is celebrating by officially launching her fintech startup.

After going through a successful beta testing phase, Houston-based DonateStock offers a tech-enabled tool that automates the stock donation process — something only 2 percent of investors are taking advantage of. In honor of the launch, DonateStock is waiving fees for nonprofits and matching all investors' donations up to $500 per donation.

"National Nonprofit Day offers the perfect opportunity for nonprofits to elevate fundraising strategies by taking advantage of DonateStock's waived fees," Young says. "Now is the time to join nonprofits across the city and nation as innovation makes donating stock easier than ever."

Young co-founded the company with Steve Latham because, having donated stock before, she saw how off-putting the slow and confusing process was. But she also saw the value of the win-win process. Donors win by avoiding capital gains tax while also getting to deduct the fair market value of the stock. Meanwhile, nonprofits win as pre-tax stock donations are often much larger than after-tax cash donations.

Steve Latham and Andrea Young co-founded DonateStock. Photos courtesy of DonateStock

"I valued the immense benefits stock donations provided me as an investor while simultaneously helping a nonprofit," Young says of her early experience with donating stock. "I enjoyed the significant tax advantages that allowed me to avoid capital gains taxes while deducting the full market value of my gifted stock. However, I found the entire process time consuming and cumbersome, which led to the end of my stock donation journey."

When the pandemic hit and nonprofits were greatly impacted, Young and Latham saw an opportunity to found DonateStock to help drive donations and guide nonprofits and donors alike through the process. During its beta testing phase, the company partnered with almost 100 nonprofits, including Atlanta's Habitat for Humanity, Houston's Legacy Community Health and New York City's A Leg To Stand On.

"Stock contributions have traditionally been a cumbersome process for our donors, requiring several steps often including physical stock certificate confirmations before completing the donation," says Chree Boydstun, the chief development officer of Legacy Community Health, in a news release. "We view stock donations as an incredible untapped source of new funding and we're excited to work with DonateStock to make the most of this opportunity."

Earlier this year, DonateStock won Capital Factory's Houston Tech Rodeo $50K Investment prize.

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Building Houston

 
 

You can tap into AI to run your office more efficiently, according to this expert. Image via Getty Images

We are crossing a Rubicon. A point of no return. The birth of Chat GPT has opened a world of possibilities not seen before. Though artificial intelligence has been a part of our lives for many years, it has now taken a form that will become more universal. And nowhere will it be more prevalent than in the workplace. Companies all around the world are using this technology to transform the way we work and the offices we inhabit. The race is on.

Many companies are already using AI to drastically change their office design and the way they work. Those that haven’t embraced it are now faced with a choice – to incorporate the AI revolution into their business, tactics, and workspace or get left behind. Luckily, the companies that are utilizing AI and ChatGPT have proven several ways that the technology can benefit their workflow and company culture, including:

  • Speech recognition capabilities
  • Task automation
  • Improved workplace design

In this article, we will explore each of these benefits and how they are helping businesses enhance productivity, support their employees, and transform their offices.

Voice to Text Capabilities

Companies are using AI to support employees by alleviating mundane tasks that can lead to burnout, starting with typing. AI-powered speech recognition software enables employees to use their voice to respond to emails, create reports, and fill out forms. This type of solution is effective because the average typing speed is in the 40 words per minute range. However, speech-to-text entries are about three times faster and more accurate. Additionally, the technology can reduce repetitive stress injuries and eliminate barriers for employees with disabilities.

Task Automation

AI-powered technologies can also automate other tasks like generating meeting summaries and minutes. This can save time and ensure that critical information is not missed. ChatGPT can even automate the scheduling of meetings and appointments. Shaffra, a company in Dubai, is utilizing the chatbot’s services to free up time and resources for more creative and strategic work. Other startups like Growdash are leveraging ChatGPT to provide insights into why a particular marketing campaign has not performed well and how it can be improved.

ChatGPT also helps streamline processes, such as onboarding new hires. By providing an accessible, centralized repository of information, ChatGPT can help employees reduce decision-making time and improve accountability. With its visibility into task completion, the technology also encourages remote workers to stay engaged, speeding up workflows.

Improved Workplace Design

ChatGPT is also impacting workplace real estate by influencing design choices. With the rise of virtual communication, businesses are reconsidering the layout of physical workspaces. ChatGPT can help inform these decisions by analyzing employee feedback and identifying patterns in communication and collaboration. This data can be used to design workspaces that are optimized for productivity, improving employee satisfaction, and reducing turnover.

At Telstra, Australia's leading telecommunications company, CEO Vicki Brady identified AI as a key part of the company's 2025 strategy and has already implemented various AI technologies to improve customer service, network security, and software development. This in turn could lead to a need for more versatile and adaptable workspaces that can accommodate different work styles and preferences.

Conclusion

It is important to note that AI technologies are not perfect. Users have stated that AI may occasionally give inaccurate responses or have untrustworthy information sources. But the benefits of using AI-powered technologies to support employee throughput and well-being still outweigh the risks.

As companies navigate a rapidly changing global landscape, technological advancements can play a critical role in ensuring their success. From automating tedious tasks to enabling remote work, artificial intelligence tools like ChatGPT and speech recognition platforms have become vital assets for optimizing workplace efficiency and processes. Ultimately, the success of any business lies in its ability to adapt to ever-changing technologies, and ChatGPT is undoubtedly leading the way.

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Matt Norberg is the associate technical designer at Gensler.

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