Startup wishlist

Houston needs 4 things to emerge as a startup hub, according to this entrepreneur

Houston has the potential to be a great place for startups, but it might need some fine tuning. Photo by Scott Halleran/Getty Images

I often think about why Houston's entrepreneurship ecosystem hasn't taken off as much as it should, given the talent pool and the industrial gravity that's concentrated here.

I joined Station Houston as one of the very early members in January of 2016 and since then been watching all the moving parts in the Houston innovation ecosystem as an entrepreneur. I wanted to share four practical ideas on how Houston can emerge as a startup hub.

1. Houston entrepreneurship needs to focus on deep tech and multidisciplinary endeavors
I believe a lot of breakthrough innovations will come from the interaction between different scientific disciplines or industries. We can target startups built on multidisciplinary sciences and provide a support system for them to thrive in Houston. We have the absolute best engineers, rocket scientists, and doctors in Houston, yet they aren't talking to each other as much as they should. Programs like Pipes and Pumps are great, but we need a modernized initiative that goes beyond holding a one-day event per year. A methodical and continuous program that brings professionals from energy, space, and medicine together to address the challenges these industries face. This may sound crazy, but it works. For example, my last startup commercialized DNA Sequencing in the oil and gas industry. Another startup is using microfluidics to simulate the reservoir, and there are startups using satellite data to identify methane emissions. Now, imagine if we were systematically identifying these opportunities and incubating these startups in Houston. We would be unstoppable and, more importantly, we would be ourselves. Let's help our entrepreneurial doctors, scientists, and engineers launch deep technology startups instead of trying to make apps.

2. Houston needs a structured startup program
Let's be honest, coworking space and 30-minute sessions with mentors isn't going to cut it. First-time entrepreneurs need a lot of help to gain experience and kick start their business model. What's missing is a structured program that can take a talented entrepreneur from the idea stage to raising their seed round (better or at least similar to Creative Destruction Lab or Breakout Lab).

3. Focus on helping the entrepreneurs, and the ecosystem will flourish
Any initiative around entrepreneurship that doesn't boil down to helping entrepreneurs is effectively useless. We need to pass all activities through the "entrepreneur benefit" filter. The current suite of entrepreneurship activities in Houston are skewed towards self-celebratory warm and fuzzy feeling for the ecosystem; we need to shift the attention and resources to entrepreneurs who are in the trenches trying to make it to the next level. Once we have good entrepreneurs, we will have good exits which makes investors happy and incentivize them to invest more. Those entrepreneurs then start building other companies or turn investor and this cycle gradually builds the ecosystem. What's happening now is quite the opposite; all the attention is on building the ecosystem and hoping that it's going to make everything else happen/

4. Houston could be the home for moonshots
Moonshots come from the application of deep technology, and I can't think of a better place to be the home for moonshot startups than Houston. From cure for cancer to rockets to Mars, to reversing climate change via CO2 capture and utilization. That said ideating and incubating moonshots requires vision and the appetite for risk-taking. The good news is that this model really works. As proof look at the OS Fund amazing and astronomically successful portfolio of the companies. According to Bryan Johnson, "OS Fund is investing in deep tech companies that marry hard science and technology to solve big problems and make money." We need a new breed of investment firms such as OS Fund in Houston.

Imagine if we had a portfolio of multidisciplinary deep technology startups in Houston, going through a rigorous program and had the support of the Houston industrial magnets and investors to take off. Now that's what Houston deserves.

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Moji Karimi is co-founder and CEO of Houston-based Cemvita Factory Inc.

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Building Houston

 
 

These three startups walked away from a pitch competition with thousands of dollars in equity-free prizes. Photo courtesy of Rice University

Three startups founded by Rice University graduates have won investment prizes at an annual pitch competition.

The annual H. Albert Napier Rice Launch Challenge, or NRLC, welcomed a panel of judges to hear from six alumni-founded startups in the finals last week. The prizes on the line totaled $65,000 in equity-free funding. The event, which is separate from the student version of the competition, is hosted by Rice’s Liu Idea Lab for Innovation and Entrepreneurship.

The big winner of the 2022 competition was Rhythio Medical, a preventative heart arrhythmias treatment startup. The company won first place, which included $30,000 in equity-free funding, as well as the Audience Choice Award that came with $1,500.

Taking second place, Synopic, which facilitates faster and more accurate surgical procedures through improved endoscopic vision technology, won $20,000 in equity-free funding. Lastly, Green Room, a platform that streamlines taxes and payments for touring artists, clinched third place and $15,000.

The event, named for Rice professor emeritus and entrepreneurship program founder H. Albert Napier, was sponsored by Mercury Fund, T-Minus Solutions and Chevron Technology Ventures. This year's finalists were selected by judges made up of Rice alumni. Three judges — Danielle Conkling, director at Silicon Valley Bank, Paul Manwell, senior director at Google, and Joanna Nathan, manager of new ventures at Johnson & Johnson — listened to and evaluated each company's five-minute pitch and followed up with questions.

Rhythio Medical was founded by CEO Kunal Shah, class of 2022, and Savannah Esteve, who also serves as head of product. The technology includes a surgically injected wire that makes an irregular heart work like a healthy one. It works alongside a traditional implantable cardioverter defibrillator, however, the wire but works to prevent arrhythmias, while ICDs treat arrhythmias with a painful shock to the patient’s heart. The company lists the Texas Heart Institute and the University of Texas at Austin as its research partners.

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