On the job

New accelerator director at Station Houston wants to bring talent and impactful startups to town

Station Houston has a new hire. Christine Galib was named as the director of the Ion Smart Cities Accelerator. Natalie Harms/InnovationMap

When Christine Galib moved to Houston, she knew two things: it was going to be hot, and there were going to be tacos. But when Hurricane Harvey hit in 2017, she learned something else: the resiliency of the city — and its people — was a thread that interwove the fabric of the metro.

And now that the Ion Smart Cities Accelerator, a program that would allow participants to find solutions to real-world problems in Houston, has now hired Galib as its first program director. Through her position, she'll be able to guide participants from all over the country find solutions to two of the city's biggest problems: transportation and mobility.

"Houston is international, resilient, and inspirational, powered by innovation, energy, and diversity that forms a strong foundation for our unique entrepreneurial ecosystem," Galib says in a news release announcing her hiring. "I am excited to serve Houston through leveraging and creating collaborations, partnerships, and solutions to differentiate Houston as a smart city that is building for its future."

Station Houston will host the accelerator through its first cohort, but it will move to The Ion when the innovation hub opens in 2020.

"When we look at The Ion being created as a center for entrepreneurship and innovation in Houston, there's no other city in the world has this type of level of collaboration and transparency of major players in the innovation space coming together to create, not only the physical space, but also the programming and mindset and the environment and the culture to sustain it," she tells InnovationMap.

"It was a pretty easy decision for me to be on board with the vision. It's not just a vision for a future which is far off … It's a vision for the future that we're actually creating today."

Galib, a former instructor at Rice University and the University of St. Thomas who has experience as a financial analyst on Wall Street, will spearhead the Ion Smart Cities Accelerator. For her, leading the Ion Smart Cities Accelerator allows her to take part in creating a forward-thinking, solutions driven program that will help usher in that culture into Houston's entrepreneurial atmosphere — collaboration is key.

"When I think of Houston and innovation, I think this collaborative approach to making something that is going to stick — sustainable change that sticks — and then making a future that is not just different but better for everybody," Galib says.

The accelerator, which was announced by Mayor Sylvester Turner at a Microsoft IoT in Action event, is now accepting applications for its first cohort. Galib says access is one of the biggest assets applicants are given if given the opportunity to join the accelerator.

"One of the goals is inclusion," Galib says. "You can't have a smart city and have that smartness benefit only one or two percent of the people. The inclusive nature of the accelerator in this entrepreneurial ecosystem is a major selling point."

Participants of the 10-month program will participate in structured curriculum and programming focused on mobility and resiliency and are tasked with creating feasible solutions to those problems within the city.

Galib, along with Station Houston, will offer participating entrepreneurs and startups with the resources they need to validate their solutions and prepare them for deployment, as well as create programming for participants and lead the research and analysis for the accelerator.

Galib is excited to attract talent into the first cohort and see what they do throughout their tenure in the accelerator.

"(We want to identify and recruit) talent to come to Houston and to stay in Houston, to be part of a family of entrepreneurs in innovation," she says. "I had no family here when I came here, and one of the reasons why I stayed here was because I found people who really got me excited about being a Houstonian."


Christine Galib will lead the Ion Smart Cities Accelerator program. Photo via StationHouston.com

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Building Houston

 
 

Last weekend was a tumultuous one for founders and funders in Houston and beyond. Here's what lessons were learned. Photo via Getty Images

Last week, Houston founder Emily Cisek was in between meetings with customers and potential investors in Austin while she was in town for SXSW. She was aware of the uncertainty with Silicon Valley Bank, but the significance of what was happening didn't hit her until she got into an Uber on Friday only to find that her payment was declined.

“Being positive in nature as I am, and with the close relationship that I have with SVB and how they’ve truly been a partner, I just thought, ‘OK, they’re going to figure it out. I trust in them,'” Cisek says.

Like many startup founders, Cisek, the CEO of The Postage, a Houston-based tech platform that enables digital legacy planning tools, is a Silicon Valley Bank customer. Within a few hours, she rallied her board and team to figure out what they needed to do, including making plans for payroll. She juggled all this while attending her meetings and SXSW events — which, coincidentally, were mostly related to the banking and fintech industries.

Sandy Guitar had a similar weekend of uncertainty. As managing director of HX Venture Fund, a fund of funds that deploys capital to venture capital firms around the country and connects them to the Houston innovation ecosystem, her first concern was to evaluate the effect on HXVF's network. In this case, that meant the fund's limited partners, its portfolio of venture firms, and, by extension, the firms' portfolios of startup companies.

“We ultimately had no financial impact on venture fund 1 or 2 or on any of our portfolio funds or our underlying companies,” Guitar tells InnovationMap. “But that is thanks to the Sunday night decision to ensure all deposits.”

On Sunday afternoon, the Federal Deposit Insurance Corp. took control of SVB and announced that all accounts would be fully insured, not just up to the $250,000 cap. Customers like Cisek had access to their accounts on Monday.

“In the shorter term, the great news is SVB entity seems to be largely up and functioning in a business as usual manner,” Guitar says. “And they have a new leadership team, but their existing systems and predominantly the existing employee base is working well. And what we're hearing is that business as usual is taking place.”

Time to diversify

In light of the ordeal, Guitar says Houston founders and funders can take away a key lesson learned: The importance of bank diversification.

“We didn't think we needed one last week, but this week we know we need a resilience plan," she says, explaining that bank diversification is going to be added to "the operational due diligence playbook."

"We need to encourage our portfolio funds to maintain at least two banking relationships and make sure they're diversifying their cash exposure," she says.

A valued entity

Guitar says SVB is an integral part of the innovation ecosystem, and she believes it will continue on to be, but factoring in the importance of resilience and diversification.

"Silicon Valley Bank and the function that they have historically provided is is vital to the venture ecosystem," she says. "We do have confidence that either SVB, as it is currently structured or in a new structure to come, will continue to provide this kind of function for founders."

Cisek, who hasn't moved any of her company's money out of SVB, has similar sentiments about the importance of the bank for startups. She says she's grateful to the local Houston and Austin teams for opening doors, making connections, and taking chances for her that other banks don't do.

"I credit them to really being partners with startups — down to the relationships they connect you with," she says. "Some of my best friends who are founders came from introductions from SVB. I've seen them take risks that other banks won't do."

With plans to raise funding this yea, Cisek says she's already started her research on how to diversify her banking situation and is looking into programs that will help her do that.

Staying aware

Guitar's last piece of advice is to remain confident in the system, while staying tuned into what's happening across the spectrum.

“This situation that is central to the venture ecosystem is an evolving one," she says. "We all need to keep calm and confident in business as usual in the short term while keeping an eye to the medium term so that we know what happens next with this important bank and with other associated banks in the in our industry."

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