Short stories

Hypergiant receives funding from Japan, UH honored for entrepreneur program, coworking space opens, and more Houston innovation news

Life Time Work opening its first Houston location is among this roundup of Houston innovation news. Courtesy of Life Time Work

In the Houston innovation news cycle, it's hard to keep up. Three higher education institutions are celebrating big wins within innovation and entrepreneurialism, a new coworking space joins the scene, and a health tech competition launches out of the Texas Medical Center.

Here are all the short stories within Houston innovation that you may have missed.

Texas AI company makes international partnership

Photo via hypergiant.com

Hypergiant Industries, a Texas industrial AI company with a presence in Houston, announced that it has received funding from and has entered into a partnership with Japan-basedSumitomo Corporation of Americas. The relationship will allow the company to enable and accelerate Hypergiant's AI-driven innovation initiatives across over 900 Sumitomo subsidiaries and associated companies.

"We're proud to be backed by a global leader like SCOA," says Ben Lamm, CEO and co-founder of Hypergiant, in a release. "SCOA is a company that has advanced so many industries with critical technological breakthroughs decade after decade. This relationship will ensure that both SCOA and Hypergiant remain ahead of the competition in AI for years to come."

The funding amount wasn't disclosed.

Bauer College of Business gets top marks

Photo via bauerticker.uh.edu

The Deshpande Foundation has selected The University of Houston for its 2019 Entrepreneurial University Award, recognizing the Cyvia and Melvyn Wolff Center for Entrepreneurship at the C.T. Bauer College of Business.

"Over the past decade, the Wolff Center's reputation as one of the nation's leading entrepreneurship programs has grown tremendously, and this award from the Deshpande Foundation reinforces that Bauer College is empowering students to innovate through a world-class program that emphasizes experiential learning and personalized attention by dedicated mentors," says Paul A. Pavlou, incoming dean of the Bauer College, in a release.

The award was announced by the Massachusetts-based organization at the Deshpande Symposium for Innovation and Entrepreneurship in Higher Education at the University of Massachusetts Lowell on June 11.

Life Time Work opens its doors

Courtesy of Life Time Work

Life Time Work's first Houston-area location has opened its doors in City Centre Five at 825 Town & Country Lane. The next location has already been announced to open in downtown Houston next year.

"Life Time Work is a natural extension of the lifestyle brand we have built in our athletic resorts over the past 27 years," says Life Time Work president, James O'Reilly, in a release. "With Houston's continued growth and diversified business and entrepreneurial community, City Centre is the perfect location for us to unveil this concept. We look forward to helping our members in their pursuit of a fulfilling and healthy work life."

The 25,000-square-foot space features 79 desks, 48 offices, lounge spaces, eight phone booths, two phone rooms, five conference rooms, and more features.

JLABS @ TMC opens contest for health care startups

Photo via jlabs.jnjinnovation.com

Johnson & Johnson Innovation, the Texas Medical Center, and AngelMD have teamed up to launch the Breakthrough Medical Technologies QuickFire Challenge, which is looking for game-changing medical device ideas from all over the world for a chance to win prizes.

The winner — or winners — will "receive up to $250,000 in convertible notes funding from TMC, entry to the TMCx accelerator program, one year of residency at JLABS @ TMC in Houston, Texas, and access to the Johnson & Johnson, Innovation - JLABS global ecosystem," according to the website. Also on the line — an additional convertible note investment up to $100,000 from AngelMD's Catalyst Fund.

The competition is looking for innovations within a wide range of health technologies, from oncology to 3D printing.

Houston hospital ranks No. 1 in the state for being one of America's Best Employers

Courtesy of Methodist Hospital/Facebook

Forbes partnered with market research company Statista to identify the best employers in each state. In Texas, Houston was represented at the top. Houston Methodist ranked as the number one company on the Texas list.

Royal Dutch Shell, which ranks at No. 11, is the next Houston-headquartered company on the list, followed by The University of Texas Health Science Center at Houston (No. 19), Katy Independent School District (No. 22), and Texas Children's Hospital (No. 23.)

HCC recognized for innovation of the year

Photo courtesy of HCC

Houston Community College received the Innovation of the Year Award from the League for Innovation in the Community College. HCC won for its Zero Textbook Degree initiative, which launched in 2017 and has grown from 28 to 98 sections across five HCC campuses.

"The Z-Degree program is managed by an entire group of hardworking and forward-thinking HCC faculty who are all deserving of the accolades currently bestowed on them," says Chancellor Cesar Maldonado in a news release.

Textbook prices have increased 88 percent since 2006, according to the Bureau of Labor Statistics, and, according to the release, textbooks could end up costing some HCC students more than their tuition.

Rice University hosts inaugural program for future entrepreneurs

Photo courtesy of Lilie



Rice's Liu Idea Lab for Innovation and Entrepreneurship got a jump on molding its young minds. Lilie hosted 44 incoming freshmen as a part of its inaugural Lilie Change Maker Summit. For four days, the to-be students had the opportunity to get get a taste of the program and entrepreneurialism through workshops, guest speakers, and more.

The summit was led by Jamie Jones, executive director of Lilie, and Hesam Panahi, lecturer in entrepreneurship at Rice's Jones Graduate School of Business and a faculty member at Lilie.

"We truly believe this will be a game changer in the Rice entrepreneurial ecosystem," says Caitlin Bolanos, associate director at Lilie, in an email to InnovationMap. "We were able to connect with these students and build loyalty before they even officially started in the fall, and the students are so pumped to have found each other and to continue working on their ideas while at Rice."

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Building Houston

 
 

Fertitta and his family have gifted $50 million to UH's medical school. Photo courtesy

As Houston’s most high-profile billionaire and owner of the posh 5-star Post Oak Hotel and Houston Rockets, Tilman J. Fertitta has become synonymous with over-the-top opulence and big-time entertainment.

But the CEO of the massive Feritta Entertainment empire’s latest move has nothing to do with penthouses or point guards, but rather a legacy, game-changing appropriation meant to aid his home state’s health.

The longtime UH board member and former chairman and his family have just pledged $50 million to the University of Houston College of Medicine. In turn, the new medical school has been christened the Tilman J. Fertitta Family College of Medicine.

The projected school, upon completion. Rendering courtesy of University of Houston

This landmark gift aims to address the state’s critical primary care physician shortage, (especially in low-income and underserved communities), as well as attract innovation-focused scholars, UH notes.

Additionally, the grant is meant to further clinical and translational research, with an emphasis on population health, behavioral health, community engagement, and the social determinants of health, according to a press release.

Here is how the Fertitta family gift will be distributed:

  • $10 million funds five endowed chairs for faculty hires who are considered national stars in their fields with a focus on health care innovation. This portion of the gift will be matched one-to-one as part of the University’s “$100 Million Challenge” for chairs and professorships, doubling the endowed principal to $20 million.
  • $10 million establishes an endowed scholarship fund to support endowed graduate research stipends/fellowships for medical students.
  • $10 million will cover start-up costs for the Fertitta Family College of Medicine to enhance research activities including facilities, equipment, program costs and graduate research stipends/fellowships.
  • $20 million will create the Fertitta Dean’s Endowed Fund to support research-enhancing activities.

No stranger to writing big checks, Fertitta donated $20 million to UH Athletics — the largest individual donation ever — in 2016 to transform UH’s basketball arena into the now high-tech Fertitta Center.

CultureMap caught up with the CEO (who just sold his Golden Nugget gaming for $1.6 billion), best-selling author, and Billion Dollar Buyer to discuss his landmark gift.

CultureMap: Congratulations on this legacy grant, which has been a long time coming. What does this gift mean to you, now that it’s finally official?

Tilman Fertitta: This was a vision of our chancellors and, you know, I’m on my third, six-year term and not been the chairman for eight years — and we started working on this, seven, eight years ago.

To be able to be in the beginning and the nucleus, and the idea, and what we wanted, and to get the approval from Austin—to watch it come to fruition, how often does somebody get to do a naming gift at the same time they had a lot to do with the creation of the school? So, it was very special in my heart.

CM: Many know you as the CEO of a hospitality empire, author, and even TV personality. But not many know of your commitment to healthcare.


TF: I think there’s one thing in this world that we definitely should always be treated equally on, and that's that’s equal health care for all. This medical school will serve the whole community.

We’re trying to recruit students who want to be primary physicians who will take care of the community that we live in. It’s just something that was very important to me in my whole family.

CM: Academia, scholarship, and research aside, this could essentially be looked at as seed capital for a fledgling operation. Is that a fair assessment?

TF: I know where you’re going with this and yes, it’s no different than business.

I have the vision to know that being in nearly the third largest city in America and a top 100 university in the United States — as University of Houston is according to U.S. News & World Report — that I know what this is going to be in 50 years. It’s no different than looking at another business that you start and you can have the vision to see how successful it'll be in the years to come.

Being on the ground floor of the University of Houston Medical School and being a part of it from its inception, and to help the seed money that will attract other money, I know that in the years to come what a special nationwide medical school this is going to be — because it’s in one of the great cities of America.

So, to be a part of it today and still be a part of it when I’m not here 50 years from now, maybe even sooner than that [laughs], you know, it’s going to be something very special to always be attached to.

CM: Other Houston medical schools here have distinctions in pivotal research or groundbreaking procedures. Is there a specific direction you’d like UH Med to take, going forward?

TF: Honestly, you know, what I’ve been saying? There’s a significant shortage of primary care physicians, not only in the country, but in the state of Texas. We ranked number 47th in the nation.

What we need in the state of Texas, as well in Houston and everywhere, is primary care physicians to take care of your everyday people—and to see them to know if you need a specialist.

I hope that this medical school looks back and we see that they’re graduating more primary care physicians than any other university in the United States and that's our goal. We’re going to be a med school of the community.

CM: You have zero problem with issuing directives, Tilman. What’s your message to the first graduating class, the one that will initially benefit from this $50 million gold mine?

TF: Go out and take care of the people.

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This article originally ran on CultureMap.

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