HOUSTON INNOVATORS PODCAST EPISODE 78

Houston fintech startup continues to grow to represent a new era of investing

What does the future of investment look like? That's something Youngro Lee thinks about daily – and he shares his thoughts on this week's episode of the Houston Innovators Podcast. Photo courtesy of NextSeed

When Youngro Lee and his co-founders launched NextSeed — an investment platform that allows non-accredited investors to invest in small, local businesses for as little as $100 — they were creating something that hadn't existed before. Now, Lee is actively working toward a world where this type of crowd-sourced investment is commonplace.

And the industry is changing — finally. The first change was in 2012 when the Jobs Act allowed for unaccredited investors to make small-scale investments into businesses. It was this new law change that drove Lee and his co-founders to create NextSeed as the landscape of both investors and companies that were able to get funding began to evolve.

"Investing is traditionally seen as something you can't do unless you're rich," Lee says on this week's episode of the Houston Innovators Podcast. "There was a certain understanding of what anyone (looking to invest) should do. … But now the world is so different."

And the financial world was due some changes, Lee says. If you look at the top 10 companies in the world right now, he explains on the show, most of those companies weren't on that list 20 years ago. "And that's not a coincidence," he says.

"Technologies, lifestyles, and generations change, but in the world of finance — because of regulations and old school mentality — it doesn't catch up," Lee says.

But new companies — like NextSeed on the private side of the market and Robinhood representing public investment — are putting investment power into the hands of individuals. And the new generations of investors look at investment differently.

"The future of investment is less about, 'let me maximize my ROI,'" he says, "it's going to transition to, 'I want to invest in things that make me happy and things that I value."

Last fall, NextSeed and New York-based Republic, another investment platform, entered into a strategic partnership that mutually benefits both companies and expands their horizons — both geographically and on an industry level. From Republic's perspective, the company is tapping into a new market in Houston and Texas — a region that's growing its population and attracting new businesses.

Lee shares more about the deal, the future of investing, and how he's watched the Houston innovation ecosystem develop over the years on the episode. Listen to the full interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.


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Building Houston

 
 

Houston companies need cybersecurity professionals — and universities can help. Photo via Getty Images

With an increasing number of data breaches, a high job growth rate, and a persistent skills gap, cybersecurity professionals will be some of the most in-demand workers in 2022. It’s more important than ever to have people that are properly trained to protect individuals, corporations, and communities.

Demand for cybersecurity talent in Texas is high. According to Burning Glass Labor Insights, employers in the Houston metro area have posted over 24,000 cybersecurity jobs since the beginning of 2021. But the pipeline of cybersecurity workers is very low, which means many local and national companies don’t have enough people on the front lines defending against these attacks.

Unfortunately, it looks like the cybersecurity skills gap is far from over. An annual industry report from the Information Systems Security Association shows that the global demand for cybersecurity skills still far exceeds the current supply of traditionally qualified individuals, with 38 percent of cybersecurity roles currently unfilled. This shortage has real-life, real-world consequences that can result in misconfigured systems and improper risk assessment and management.

How can companies help close the cybersecurity skills gap within their own organizations? We believe it will become increasingly important to look beyond “traditionally qualified” candidates and view hands-on experience as the same, or even more important than, the certifications or bachelor degree requirements often found in cybersecurity job descriptions.

The top open cybersecurity roles in the Houston area include analysts, managers, engineers, and developers. Employees in these positions are essential to the everyday monitoring, troubleshooting, testing and analyzing that helps companies protect data and stay one step ahead of hackers. When looking to fill these roles, hiring managers should be looking for candidates with both the knowledge and experience to take on these critical positions.

Fortunately, Houston-based companies looking to establish, grow, or upskill their cybersecurity teams don’t have to go far to find top-tier talent and training programs. More local colleges and universities are offering alternative credential programs, like boot camps, that provide students with the deep understanding and hands-on learning they need to excel in the roles that companies need to fill.

2U, Inc. and Rice University have partnered to power a data-driven, market-responsive cybersecurity boot camp that provides students with hands-on training in networking, systems, web technologies, databases, and defensive and offensive cybersecurity. Over 40 percent of the students didn’t have bachelor degrees prior to enrolling in the program. Since launching in 2019, the program has produced more than 140 graduates, some of whom have gone on to work in cybersecurity roles at local companies such as CenterPoint Energy, Fulcrum Technology Solutions, and Hewlett Packard.

Recognizing programs like university boot camps as local workforce generators not only gives companies a larger talent pool to recruit from, but also increases the opportunity for cybersecurity teams to diversify and include professionals with different experiences and backgrounds. We’re living in a security-first world, and the right mix of cybersecurity talent is essential to keeping us protected wherever we are.

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David Vassar is assistant dean of professional and corporate programs at Rice University. Bret Fund is vice president overseeing cybersecurity programs at 2U.

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