By the numbers

4 things you need to know from the Greater Houston Partnership's annual report as it pertains to innovation

The Greater Houston Partnership has the facts. Nick Bee/Pexels

Every year, the Greater Houston Partnership — the city's economic development arm — gathers up data and reports to paint a full picture of the Bayou City. In the past few editions, innovation has been a key component.

The GHP's innovation coverage spans three pages under the top industry and sectors category. From tech startup growth to money raised, here's what you need to know from the 2019 Houston Facts.

Houston has the 12th largest tech sector in the United States

Christina Morillo/Pexels

The innovation section starts pretty strong with this fun fact. The No. 12 tech sector ranking comes from Computing Technology Industry Association, which cites that Houston has more than 223,000 tech workers. According to the report, about two-thirds of Houston's tech workers are in industries outside of computer and software.

GHP credits Houston's large population of tech workers to its connection to aerospace and oil and gas.

"As the home of NASA's Johnson Space Center and headquarters to the global energy industry, Houston has long been a global hub of engineering talent," the report reads. "In recent years, those skills have given rise to a thriving ecosystem of digital technology companies."

GHP's data reflect that Houston has more than 8,200 tech-related firms, which includes over 500 tech startups.

Venture funding was up over 50 percent between 2017 and 2018

Via Houston Facts


Houston's recorded venture funding doesn't have a hockey stick chart to brag about. Over the past few years, venture funding has been up and down, according to S&P Capital IQ.

"Houston companies in clean energy, health innovation and digital technology have received $3.1 billion in venture capital and growth funding across 333 deals since 2014, averaging $576 million every year," the report reads.

But between 2018 and 2017, VC funds were up 50.9 percent. Of the three categories, clean energy technology pulled in the most money each year and was responsible for 64 percent of the funding during the 2014-2018 period. Sunnova, a residential solar company, had the most money raised during this time with $1.3 billion.

The largest deals reported in Houston in 2018 were:

  • Sunnova Energy — $183 million
  • OncoResponse — $40 million
  • Trisun Energy Services — $39 million
  • Arundo Analytics — $25 million
  • Procyrion — $16 million
  • QuVa Pharma — $15 million
  • NeoSensory — $12 million

University-backed entrepreneurship remains strong

Courtesy of Rice University

The Princeton Review ranks Rice University and the University of Houston as having among the best entrepreneurship programs in the country. Rice runs its Rice Alliance for Technology and Entrepreneurship out of its Jones Graduate School of Business, while University of Houston's Cyvia and Melvyn Wolff Center for Entrepreneurship is housed in the Bauer College of Business.

Both schools have run accelerator programs for seven years — the past six of which have been in collaboration. Rice's OwlSpark and UH's RED Labs finished this summer's program on August 1 at the Bayou Startup Showcase with 16 startup pitches.

Meanwhile, the Rice Business Plan Competition is deemed the "richest pitch competition" in the country. In 2019, the competition saw $3 million invested. RBPC companies have gone on to raise $1.2 billion in capital during the competition's 18-year history.

At UH, which has its own set of pitch events, the Wolff Center's graduate students manage a million-dollar Cougar Venture Fund. The fund has a group of experts that analyze and invest in early stage technology companies.

The life science industry continues to grow

Via Houston Facts

In 2018, Houston housed 20.5 percent of the country's clinical trials, with over 1,800 active. The city has more than 1,760 life sciences companies and over 25,100 biotech experts and 7,200 medical researchers.

Thankfully, the money seems to match this volume of activity. Last year, Houston's medical research grant funding from the National Institutes of Health, which totaled $668 million in 2018, was up almost 7 percent from 2017. The city's medical institutions have received nearly $3 billion from NIH since 2014 — an average of $600 million a year.

According to the GHP, the top Houston institutions receiving NIH funding in 2018 were:

  • Baylor College of Medicine — $255 million
  • University of Texas MD Anderson Cancer Center — $149 million
  • University of Texas Health Science Center — $90 million
  • University of Texas Medical Branch Galveston — $87 million
  • University of Houston — $24 million
  • Methodist Hospital Research Institute — $19 million
  • Rice University — $14 million
  • Texas Southern University — $3 million

As mentioned before, venture capital and private equity investment has increased in Houston, and that trend is also represented in the life science sector. In 2018, life science startups raked in $119 million, which represents a a 41.7 percent increase from $84 million in 201717, according to S&P Capital IQ.

In 2018, the top biotech firms receiving investment were:

  • OncoResponse — $40 million
  • Procyrion — $16 million
  • QuVa Pharma — $15 million
  • Pulmotect — $10 million
  • Tvardi Therapeutics — $9 million

Board meetings have you front and center and can feel like you're taking a beating under intense pressure. Thankfully, there are ways to make board meetings less brutal. Miguel Tovar/University of Houston

Board meetings can be taxing on CEOs. Think about it. You're standing in front of a group of suits that can fire you on the spot if they feel you're underperforming. You're out in the open. Naked. Vulnerable. Insecurities exposed for all to see. One wrong move and you could be back on the bread line. A board meeting puts you front and center.

Before we get into exactly how we can make this experience less soul-crushing, let's take a gander at what makes a board meeting so brutal to begin with.

Brutality of board meetings

Board meetings are long. They're a torture chamber. Those machine cogwheels that Charlie Chaplin was trapped in and smashed by in the movie Modern Times, that's what it's like to go through a board meeting.

It's extremely difficult to tell your startup's story and show its progress when you're being asked, nay, commanded, to talk about specific things only, like how are you spending money?

You get too many people sticking their hands in the pot. Board members invite other people to attend and suddenly everyone wants to hear themselves talk. They'll all want to chime in and get their spotlight to show how smart they are.

There's intense pressure. You're essentially pitching your startup all over again. Except this time you're pitching it to a room full of suits that can take it away from you.

"Startup CEOs tend to forget that it's the board that works for them," said Jeff Bonforte, former vice president of Communications Products at Yahoo! and creator of Yahoo! Mail, Messenger, and Answers.

"You have CEOs leaving these board meetings with more work on their plate to get done than when they went in. It's brutal. You have this pressure of feeling like it's on you to get to the finish line, but the fact of the matter is it's also the board's responsibility, too."

Lessening the blow of a board meeting

One way to make board meetings less brutal and more bearable is to narrow down the things that need to be covered. Have team dynamics changed for the better? Has the market changed since our last meeting? How did that impact us? What's our position now relative to last year? Are we doing what we said we'd be doing?

The core of a board meeting should cover temperature-check questions like this, rather than "the product should have a button that lights up on touch."

Once you make board meetings centered on action items and temperature-check questions, suddenly these meetings become more about moving forward and being productive, and less about judging you. Suddenly, board meetings become events where highly intelligent individuals with shared interests (the interest of not losing their investment) actually, get this, work together to improve the company, rather than belittle you.

Further lessening the blow

Meet with board members individually for about half an hour before a board meeting. Ask them what issues they want you to cover and ask for their opinion on the agenda you plan to present. This helps ease tensions and minimize surprises during a board meeting.

Put together a nice packet. Sort of a pre-board meeting prepper. It should show the board members what you plan to cover during your meeting. Make sure to send out these packets at least a few days prior to the meeting. This will encourage board members to come prepared because now they'll know what to expect.

Arrange a luncheon before a board meeting. This gives board members a chance to meet important people on your team and talk with each other without the intense atmosphere of a board meeting.

"Another thing you should do during a board meeting is, you want to sit at the table with the board members. Integrate yourself among them rather than stand in front of the room where you'll really feel the heat," said Bonforte.

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This article originally appeared on the University of Houston's The Big Idea.

Rene Cantu is the writer and editor at UH Division of Research.