Money moves

Google taps 3 Houston Latino-led startups for inaugural non-equity cash awards

Google has named its first class of Latino entrepreneurs for its inclusive fund. Photo via Getty Images

Google announced today that it has selected 50 companies for the inaugural cohort of the Google for Startups Latino Founders Fund.

Nine startups in Texas have been selected — and three of them are bases in Houston. Each company will receive an equity-free $100,000 investment, as well as programming and support from Google, mentorship from technical and business experts, access to free mental health therapy, and more.

The Houston companies selected were:

  • AnswerBite, which supports marketing enterprise teams with social proof videos and customer insights in minutes and has over 300 clients
  • Boxes, which creates devices that combine physical and digital technology to democratize convenient, affordable, and sustainable retail
  • Ease, financial practice operations platform that helps clinicians build new practices from the ground up

“Being selected to attend the inaugural cohort of Google for Startups Latino Founders Fund gets us one step closer towards completing our mission of increasing healthcare access for Black and Latino communities,” says Dr. Mario Amaro, founder and CEO of Ease, in a news release. “The support and excitement that Google continues to have for small business gives us so much confidence in the future of private practice and clinician entrepreneurship.”

The program was founded to shrink the gap in opportunities and wealth for Latinos in the business community who are disproportionately affected by a lack of access to funding.

“We are excited to support these talented Latino entrepreneurs as they build innovative solutions and solve tough problems,” says Daniel Navarro, US marketing lead for Google for Startups, in the release. “I hope the launch of our inaugural Google for Startups Latino Founders Fund not only catalyzes the growth of these incredible Latino-led startups, but also inspires other Latino entrepreneurs, and ultimately generates wealth within the community."

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Building Houston

 
 

With the consumer price index rising 9.1 percent since last year, many Americans are evaluating new employment opportunities with better pay. However, employees would be wise to consider the risks of accepting a new position in the face of inflation and a possible recession, which could leave employers unable to sustain higher wages and generous benefits.

As a safer option in the longterm, employees may wish to ask for a raise from their current management, yet many do not know how to start the conversation. By understanding best practices for negotiations, employees can improve their chances of obtaining a pay raise without undermining relationships.

Understand the risks of job-hopping

Conventional wisdom suggests that job hopping can result in higher salary increases than an annual raise. During the pandemic, many employees took advantage of labor market shortages to secure new positions for higher pay. However, job hopping presents risks, particularly in an uncertain economic environment. Companies may institute “last in, first out” layoffs, leaving recent hires unemployed.

Even in strong economic conditions, job-hoppers face uncertain outcomes. When employees leave a company, they may leave behind teammates, mentors, client partnerships and friendships years in the making. These relationships can redevelop in a new organization, but employees may find themselves in an unfamiliar setting, facing unrealistic expectations or unexpected challenges that were not clear during the interview process.

Prepare ahead of time

Before approaching management with a request for a raise, employees should understand their own financial needs and how much additional compensation would improve their finances. If inflation has caused financial strain, employees should gather recent data on inflation, including the consumer price index, to share with management. The more information employees can offer about changing economic conditions, the more management will understand and accept their position.

Focus on the positive

Employees should begin a conversation about salary with praise for the organization and a reiteration of their commitment to the team. By beginning on a positive note, employees set the tone for a mutually productive conversation. Although employees may view salary negotiations as adversarial across the table, productive negotiations are a conversation with both employee and employer on the same team.

Likewise, while employees may worry about looking greedy, employees should not let that fear prevent them from opening the conversation. Employers also understand that employees work to meet their financial needs. While employers may face budget constraints or other considerations in salary allocation, strong management also recognizes the importance of nurturing growth among employees, both in compensation and job responsibilities.

Nonetheless, employees should focus the discussion on broader economic conditions like inflation, not on their personal budget items. By acknowledging the economic environment outside of the employer’s control, employees can then respectfully request their salary be adjusted for inflation.

Employees with a record of strong results can also gather data or performance reviews to demonstrate their contributions to the team beyond the expectations of their role. In doing so, employees can frame a salary increase as a celebratory recognition of the mutually successful partnership between employee and employer and an investment in the relationship.

Be flexible if negotiations stall

If employers decline to adjust an employee’s salary for inflation, employees should not give up on negotiating additional compensation or benefits. Rather than a pay raise, employees can ask for reimbursement for gas mileage or additional remote days to cut down on their commutes. If management declines a pay raise based on timing, employees can acknowledge that management may face budgetary constraints, remaining flexible but firm. For instance, a compromise may involve revisiting the discussion in three to six months.

As employees face record-breaking inflation, it remains critical to consider the risks of departing one role for another. By implementing best practices in salary negotiations, employees can secure a salary increase that matches inflation, avoid the uncertainty of job-hopping and invest in the future at their current company.

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Jill Chapman is a senior performance consultant with Insperity,a leading provider of human resources and business performance solutions.

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