Big winners

Houston companies take home big prizes from a Texas A&M startup competition

Spark Biomedical took home first place at the Texas A&M New Ventures Competition. Courtesy of Texas A&M

Earlier this month, 16 startups competed in the 2019 Texas A&M New Ventures Competition for more than $350,000 in cash and in-kind services — the largest pool of prizes in the contest's history.

Houston had a huge presence at TNVC this year. Several Houston startups competed in the technology- and science-focused pitch competition, and the top three prizes were claimed by Houstonians. Of the 13 health and life science companies that were named semifinalists, seven were related to the TMC Innovation Institute.

Here are the Houston companies that walked away from the TNVC with cash and/or prizes.

Spark Biomedical

Friendswood-based medical device company Spark Biomedical took home the top prize at TNVC, which came with a $50,000 check. Spark's technology uses a noninvasive neurostimulation treatment for opioid addiction recovery.

"I'm very humbled and grateful," says Daniel Powell, CEO of Spark, in a release. "This award means a lot because Texas A&M is my alma mater. Being back here is fantastic, and this win is a testament to the work we're doing and our dedication to making a difference with this product."

Spark also was recognized with the Southwest Pediatric Device Prize and the Aggie Angel Network Investment Prize. Recently, Spark announced a partnership with another Houston startup, Galen Data.

SurfEllent

Photo via surfellent.com

Coming in at No. 2 overall and receiving a $35,000 prize was Houston-based advanced coating company, SurfEllent. The company, which is based out of the University of Houston's Technology Park, has designed an anti-icing technology that can be used in any type of situation from de-icing cars to aeronautical applications.

SurfEllent was also recently recognized as one of the top three innovators at NASA's 2017 iTech forum, out of 130 entries across the US.

The company also walked away with the TEEX Product Development Center Prize.

Intelligent Implants

Photo by Cody Duty/TMC

Intelligent Implants called Houston home during the 2018 TMCx medical device cohort and still has a presence in town. The company, which created a, implantable wireless device that stimulates bone growth using electrical stimulation, claimed third prize and $25,000.

Last fall, following its success at TMCx, Intelligent Implants was named the "Most Promising Life Science Company" at the 2018 Texas Life Science Forum hosted by the Rice Alliance and BioHouston.

VenoStent

Photo via venostent.com

Another 2018 TMCx medical device cohort member competed at the TNVC and left with fresh funds. VenoStent took fifth place and a $10,000 prize. VenoStent has a device that allows a successful stent implementation on the first try, called the SelfWrap. The device is made from a shape-memory polymer that uses body heat to mold the stent into the vein-artery junction.

VenoStent, which has its headquarters in Nashville, Tennessee, also won the Ramey & Schwaller IP Legal Services Prize.

PolyVascular

Courtesy of TMC Innovation

Houston-based PolyVascular walked away a big winner of multiple prizes. The company, a member of TMCx's 2017 medical device cohort, creates polymeric transcatheter valves for children with congenital heart disease.

PolyVascular won the TNVC pitch competition, which came with a $5,000 prize. The startup also walked away with the Biotex Investment Prize, the Amerra Visualization Services Prize, and the GOOSE Society Investment Prize.

Ictero Medical

Ictero Medical, which operates out of JLABs at TMCx and is a TMCx07 alum, took home several prizes, including the Thomas | Horstemeyer IP Legal Services Prize, the TMC Accelerator Admission Prize, and the Engineering Vice Chancellor Innovation Prize — a new award that came with a $15,000 prize.

Ictero created the CholeSafe System — a minimally invasive device that treats gallstone disease patients in a procedure with "only minimal local anesthesia to defunctionalize the gallbladder without having to remove it," according to the website.

Sun Co. Tracking

Sun Co. Tracking was the other of the two startups to receive the new Engineering Vice Chancellor's Innovation Prize and its own $15,000 prize. The Houston-based company is developing shape memory alloy actuators for solar panels.

"This unique prize is intended to help the awardees access the world-class engineering capabilities at Texas A&M to obtain technical assistance toward solving their most challenging technical problems in product design, manufacturing or testing," says Dr. Balakrishna Haridas, TEES director for technology commercialization and entrepreneurship, in a release.

"These collaborations between the prize winners and Texas A&M Engineering will generate technical data to support on Small Business Innovation Research/grant proposal funding or private capital investments to the company."

GaitIQ

Photo via LinkedIn

GaitIQ is based in San Antonio, but is automatically accepted into TMCx's tenth cohort if they'd like, since the company won the TMC Investment Prize. The company, which created a primary care app that uses artificial intelligence and cloud-based technology, also won sixth place overall and $5,000.

GaitIQ also won the Ark Pharmacies, Inc. Regional Prize, the Hollinden Marketing and Strategists Services Prize, and the Schwegman Lundberg and Woessner IP Legal Services Prize.

Ahead of entering the Houston market later this year, Silicon Valley's Plug and Play hosted three days of programming surrounding innovation in energy and health care. Natalie Harms/InnovationMap

Plug and Play, a Silicon Valley venture capital firm and accelerator program, plans to launch its operations in Houston later this year. And, in showing its commitment to the Bayou City, the organization hosted three days worth of panels, talks, and pitches at the Texas Medical Center's TMC Innovation Institute earlier this month.

Houston Innovation Week was Plug and Play's formal introduction to Houston startups and the local corporations that have the potential to support them. The programming focused on health and energy and sustainability, and the summit concluded with TMCx's Demo Day.

If you missed the event, we've hit the highlights for you by rounding up nine powerful quotes overheard throughout the week.

“Nowadays, I feel every industry is going to go through an incredible digital transformation. Even the oil and gas industry, which is very capital heavy, there’s going to be a layer of fast-moving technologies which would help the industry be more efficient. This is the crossroads where Plug and Play was born — bridging the gap between the entrepreneurs and the technologies. That changes an industry.”

— Saeed Amidi, CEO and founder of Plug and Play, says. He also shares the story of how Plug and Play got its start from a few lucky early investments to making over 150 investments a year.

“Now we have about 30 offices, and then quite frankly I realized I had forgotten about America.”

— Amidi says, announcing that Plug and Play will open five new offices across the United States in the next six months to a year.

“We’re not walking in terms of building this integrated robust innovation ecosystem, we’re sprinting in that direction.”

— Mayor Sylvester Turner says, adding that, "If there is any city that ought to be leading the way when it comes to startups, technology, and innovation, it ought to be the city of Houston."

“You have to get people to invest more. It doesn’t happen on its own. People have to see that if we invest, we’re going to get a return.”

— Mayor Turner says, calling the crowd to action. "You can't just talk about what others have done and what we have accomplished. You have to take that now, build the platform, and move into where we are going."

“One of the things you look at is it’s not the technology itself that’s going to make you win or lose, it’s what you do with it.”

— Barbara Burger, president of Chevron Technology Ventures, responding to a question about what technologies she has her eyes on. Burger continued on to say that, while she couldn't highlight any technologies in particular — it's like picking a favorite child, she's always evaluating how a new technology would help with the affordability, reliability, and lower environmental impact. "That's the game," she says.

"Management is amazing at suppressing innovation. … We can move toward just trying not to suppress it. If someone has an idea, they are safe to go through the process and raise their hand."

— Bradley Andrews, president of digital at Worley. "I think it's a change in attitude," he says about how management can evolve to advance ideas within energy companies.

“It’s easy to say that we’ll do the thing that gives us the most competitive advantage — and it’s really hard to figure out what that means and how you do that. In general, if we see something that’s out there and implemented that someone else has done, I don’t need to create an internal capability like that. I just need to go access that.”

— Doug Kushnerick, senior technology scouting and venture adviser at ExxonMobil. For Kushnerick, technology solutions that fix specific problems are easy to go after, but things that affect big picture and strategic assets are harder to figure out if they are worth implementing.

“One of our big asks from our partners from an internal perspective is really to have a champion — whether its an innovation manager or someone who really advocates these startups internally. Someone who will find the clinician and the business unit and tap the legal team.”

— Neda Amidi, global head of health and partner at Plug and Play Tech Center, responding to a question about opening up the channels of communications between startups and large companies. She adds that it's a requirement for these people to visit a Plug and Play location four to six times a year.

“What I see from a culture perspective is that it really starts with the leadership in the institution. If the people at the top in the C-suite of the institution are focused on understanding why their organization isn’t performing as well as they expect it to be and are willing to look to the outside, that’s how it starts in my mind.”

— Thomas Luby, director TMC Innovation Institute, responding to a question from the audience about large organizations that tend to be slower adaptors to new technologies.