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Houston venture capital fund launches energy-focused startup accelerator program

A new energy-focused startup accelerator hopes to better connect the dots between big companies and tech startups. Getty Images

While being renown as the energy capital of the world, Houston doesn't have an active oil and gas-focused accelerator program for the various startups rising in the energy industry. That is, until now.

Houston-based BBL Ventures, an early stage capital fund for energy startups, has announced BBL Labs, a new accelerator is based in Station Houston. BBLL is accepting applications for its inaugural cohort by February 22.

"BBLV looks forward to engaging in this partnership to drive entrepreneurial innovation focused on identified challenges and technology gaps in the global energy and natural resources industry," says Patrick Lewis, managing partner at BBLVentures, in a release.

BBLL will use BBLV's data on what the oil and gas industry needs from new tech startups as well as its connections to big energy companies to better connect the dots within the accelerator program.

Historically, tech startups focused on oil and gas solutions have a lot of trouble finding funding and validation in the industry — for a few reasons, Lewis says. On one hand, there's a disconnect between oil and gas companies and the startups that have solutions to industry problems, and on the other, the VC funds aren't there.

"Energy tech is a grossly underfunded industry. Venture capitalists hate it — the hyper cyclical industry, extremely long sales cycles, slow adopters — but that creates opportunities," Lewis says.

So what BBL's venture arm has done is flip the script on this way energy startups and big oil companies have traditionally functioned. Currently, it's up to the energy startups to tell large energy companies why their company or industry needs new technology to solve a problem. But what BBL has realized with it's venture arm is that it's much more efficient if the industry figures out its greatest technology needs and then looks for companies solving that problem. To do that, BBL's Innovation Navigator Software acts as a tool for energy employees to identify pain points.

"We've built software that's meant to be used pervasively across the organization — from the drilling engineer out in the field to the global office manager to the CTO," Lewis says.

These employees can log their daily pain points in the system, categorize them, and flag their priority. BBL takes that information, develop a reverse pitch, and market it to the startup ecosystem globally to identify companies that are addressing the problems of these energy employees.

BBL will use this proprietary pain point data to drive the new accelerator to produce a cohort of 10 startups creating technology that oil and gas companies have already indicated they need. Each cohort will go through six months of programing located in Station Houston. The two entities will collaborate on resources including lab space, investment, advisory services, mentorship, and more.

"Station Houston exists to support startups and with BBL Labs now inside our four walls, we can offer the Houston startup community access to even more resources and support," says Station CEO Gabriella Rowe. "At the same time, our 130 mentors are ready to roll up their sleeves and help these businesses get off the ground and start making an impact."

From startup competitions to thought-provoking talks, here's where you need to be in August. Getty Images

If you subscribe to the idea that your net worth is your network, then here's your guide to networking this month in Houston's innovation ecosystem. August has meetups, pitch nights, and networking aplenty.

If you know of innovation-focused events for this month or next, email me at natalie@innovationmap.com with the details and subscribe to our daily newsletter that sends fresh stories straight to your inboxes every morning.

August 1 — Sixth Annual Bayou City Startup Showcase

Rice University's OwlSpark and University of Houston's RED Labs are coming together again for a startup pitch and showcase — this time in The Cannon's new building.

Details: The event is from 3 to 5:30 pm on Thursday, August 1, at The Cannon/Bayou City Fellowship (1400 Brittmoore Road). Learn more.

August 6 — Houston Unfiltered with Jeff Garoon, COO of FlowCommand

Station Houston has rebooted its Open Coffee series to Houston Unfiltered. Each month has a new speaker, and in August, startups can hear from Jeff Garoon, COO of FlowCommand.

Details: The event is from 8 to 9 am on Tuesday, August 6, at Station Houston (1301 Fannin Street, #2440). Learn more.

August 6 — Managing Your Sales Function 

Capital Factory's next Houston Founder's Academy installation is focused on sales.

Details: The event is from noon to 2 pm on Tuesday, August 6, at The Cannon (1336 Brittmoore Road). Learn more.

August 7 — Deep 6 AI: Advancing Clinical Research @ TMC

Imagine knowing every patient you want to recruit on day 1 of your trial. Doug Cassidy, vice president of Clinical and Academic Research at Deep 6 AI, explains how Deep 6 AI can help you find more better matching patients for trials in minutes, not months.

Details: The event is from 4:30 to 5:30 pm on Wednesday, August 7, at Third Coast Restaurant (6550 Bertner Avenue, 6th Floor). Learn more.

August 8 — Summer Salon: Broadband Internet Access & Digital Inclusion

The Center for Houston's Future is hosting a fireside chat to focus on all things digital.

Details: The event is from 6:30 to 8:30 pm on Thursday, August 8, at the Omni Houston Hotel (4 Riverway). Learn more.

August 13 — Entrepreneurship Burn-out: The Power of Nutrition Psychology

Entrepreneurs are creative, highly driven, and high-performing individuals. But in the pursuit of success, entrepreneurs often neglect their health. Our guest speaker will share practical tips/advice for entrepreneurs to prioritize nutrition to prevent burnout and/or help in the recovery process.

Details: The event is from 5:30 to 7:30 pm on Tuesday, August 13, at Impact Hub Houston #PopHUB @HX (410 Pierce Street). Learn more.

August 15 — SPE Talk: The Energy Dot

This inaugural digital innovation event will combine oil and gas, academia, and Silicon Valley innovation with multiple tracks of engaging programming.

Details: The event is from 8 am to 5 pm on Thursday, August 15, at Midtown Arts and Theatre Center (3400 Main Street). Learn more.

August 17 — Enventure Basecamp - Business Building Workshop

Basecamp is an inclusive environment for those who are interested in adapting their life science experiences to real business applications. All are welcome, and the event is free.

Details: The event is from 9 am to noon on Saturday, August 17, at the TMC Innovation Institute (2450 Holcombe Blvd). Learn more.

August 17 — re:3D's sixth birthday, discount print day, and design contest

re:3D is turning six, but the party is actually for you. Discount printing, plus a contest with $100 credit on the line.

Details: The event is from 10 am to 2 pm on Saturday, August 17, at re:3D Houston HQ (1100 Hercules Ave, STE 220). Learn more.

August 22 — TMCxAlpha: August meeting with Ashok Gowda

TMC alpha provides a pathway for any innovator affiliated with a TMC member institution to find support for the development and commercialization of their idea or product. Lunch and parking validation will be available.

Details: The event is from noon to 1 pm on Thursday, August 22, at the TMC Innovation Institute (2450 Holcombe Blvd). Learn more.

August 22 — Federal Funding 101 Introduction to the SBIR

This program is purpose-made to provide seed money of up to $1.5M to small businesses to enable them to break into the market. Following the workshop, Inspiralia experts will be available for one-on-one technology validation meetings.

Details: The event is from from 3 to 7 pm on Thursday, August 22, at the CUBIO Innovation Center (7707 Fannin St., Ste 200). Learn more.

August 28 — Enventure Biodesign Workshops

Biodesign workshops is a free course designed to provide new entrepreneurs with an understanding of the innovation process, teaching them how to evaluate a life science technology as the basis for starting a new business. Whether you're an engineer, scientist, physician, or business expert, this class will bring you up to speed on the medical innovation process.

Details: The event is from 6 to 8 pm on Wednesday, August 28, at the TMC Innovation Institute (2450 Holcombe Blvd). Learn more.

​August 29 — The Greenlight Guru True Quality Roadshow

Enjoy specially selected drinks, hors d'oeuvres, and intimate networking with medical device professionals. Finish the night hearing from leaders in the industry.

Details: The event is from 4:30 to 6:30 pm on Thursday, August 28, at the JLABS @ TMC (2450 Holcombe Blvd). Learn more.