who's who

3 Houston innovators to know this week

NASA technology is up for grabs and InnovationMap has a new podcast — here are some innovators to know this week. Courtesy photos

Another Monday means another weekly roundup of who's who in Houston innovation.

This week, we have our first Houston Innovators Podcast guest to feature, as well as a NASA expert who wants to loan you space technology.

Jon Nordby, managing director at MassChallenge Texas

Courtesy of MassChallenge

On our first episode of the new Houston Innovators Podcast, we discuss Houston accelerators with Jon Nordby, managing director for MassChallenge Texas. The first Houston program launched this year, and, as the organization looks toward its next cohort, the Houston innovation ecosystem is evolving in front of our eyes.

To read more about Nordby and MassChallenge, click here to read the story and listen to the podcast.

Sara Kelly, founder of Rigby

Courtesy of Rigby

Sara Kelly thinks you shouldn't have to get married or buy a house to have a nice dish set. She created Rigby, a Houston-based direct-to-consumer tableware company that is flipping the script on dishes.

"The reaction to the brand and the product has been great," says Kelly. "It's been so exciting for me to see that. At this point, we're focused on organic growth since we're so new."

Click here to read more about Rigby.

Steven Gonzalez, technology transfer strategist at NASA

Courtesy of NASA

Steven Gonzalez's job is to move NASA technology out into the world. The Johnson Space Center has hundreds of technology applications and IPs, and so much more can be done with those ideas here on earth. In a guest column for InnovationMap, Gonzalez writes of the NASA Johnson Space Center Technology Transfer and Commercialization Office, which will loan technology licenses to startups for free for three years.

"New technologies have been researched, developed, and proven on the ground — as well as above the earth on the International Space Station — in fields including medical, communications, agriculture, manufacturing, materials, structures, and much more," he writes. "At NASA's JSC, we are proud of the exceptional innovators who continue to develop technologies that advance the space program and technology for society on our home planet, and we love to share our knowledge."

Click here to read more about the program.

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Building Houston

 
 

AvidXchange executives explain why a crisis like the pandemic can provide opportunities for growth or realignment. Photo via Getty Images

From esports to telemedicine, some technologies are having a major moment during the COVID-19 crisis. As many businesses are operating remotely with work-from-home policies in place indefinitely, payments automation is another technology that's seen an opportunity amid the pandemic.

AvidXchange, which has invoice and payment processes automation software for mid-market businesses, is one of the companies in this payment automation space that's seen growth in spite of the economic downturn caused by the virus. The Charlotte, North Carolina-based company was founded in 2000 and went on to acquire Houston-founded Strongroom Solutions Inc. in 2015.

Since the acquisition, AvidXchange has quadrupled its presence in Houston and does a good deal of business locally. Equipping companies with tools for remote work is crucial — now and especially in light of Houston's propensity for challenges. Tyler Gill, vice president of sales for AvidXchange based in the Houston office and former CEO of Strongroom, joined Houston Exponential on a virtual panel to discuss this topic.

"We've had a history of disasters in Houston. Any time we can help businesses move to a more cloud-based infrastructure is going to be better," Gill says on the livestream. "I think working from home is maybe the new normal for a lot of employees — so how do we enable this?"

Gill and his colleague, Chris Elmore, senior sales performance director at AvidXchange, joined Joey Sanchez of HX for the talk about the acquisition, the pandemic, and growth for the company. If you missed it or don't have time to stream the whole conversation, here are some impactful moments of the chat.

“Economic downturns have a tendency to put a very bright light on a feature set or a product or a service that’s underperforming."

— Elmore says on how the pandemic affects innovation and startups. "My hope is that entrepreneurs will see this as a real time to get focused on their business — what's working well and what's not working well — and my hope is that they'll say, 'I need to fix that,' not 'I wish this was better,'" he says.

“For a young entrepreneur looking to build a business, make sure you’re looking for the people who are germane to your business.”

— Gill says about starting his business in Houston. At first, he was trying to find investors in oil and gas, but he found more success working with companies with a background in finance technology. "Houston has a history and density in fintech — I just had to find it."

“The fact that Strongroom owned the automated payment process in HOA that made them so attractive to AvidXchange because we didn’t.”

— Elmore says on the 2015 acquisition. He explains that AvidXchange had set up a presence in multifamily and commercial real estate, while Strongroom had a hold on homeowner's association, or HOA, business. The two companies competed for a while, and if Strongroom hadn't had their HOA specialty that made the company ideal for acquisition, Elmore says the two companies would still be competing today.

“When Strongroom was added to AvidXchange, our culture improved. By the way, we went from 40 employees to 1,000 within 14 months, and Strongroom was right at the beginning of that.”

— Elmore says on growth following the acquisition. The company now has 1,500 employees across seven offices and just closed a $128 million round of fundraising in April.

“Customers don’t care how big you get or how much money you raise from investors. They care about if your service is still doing the things they need to operate their business.”

— Gill says, reminding entrepreneurs to always prioritize and be focused on the client experience — through mergers or acquisitions, fundraising rounds, growth, etc.

“When you replace human interaction with technology, what you have to do, is to now move that person on to something more impactful and more important for the business. I don’t like tech for tech’s sake.”

— Elmore says on the importance of automation. "When you automate something, the output of automation is time," he adds.

“Houston couldn’t be a better place to build a business — I found great investors and employees here. It’s a city that’s used to risk. But it’s got to be you, the entrepreneur, that’s got something festering — that’s how you know it’s a great idea.”

— Gill says on inspiring future innovators. "What kept me motivated was I wanted to win. I felt like we had a great product, and we had a big market to serve. … I wanted to build something lasting and build a great team."

“We continue to be a great Houston story — some of my angel investors in Houston are still benefiting."

— Gill says on AvidXchange's presence in Houston. He adds that he's proud of how his former Strongroom team members have risen through the ranks of the company following the acquisition and that he sees the company, which is still privately held, moving toward IPO.

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