eavesdropping at the Ion

Overheard: Houston experts call for more open innovation at industry-blending event

Houston experts at the annual Pumps and Pipes event discussed the importance of open innovation. Photo courtesy of Houston Methodist

Open innovation, or the practice of sourcing new technologies and idea across institutions and industries, was top of mind at the annual Pumps & Pipes event earlier this week.

The event, which is put on by an organization of the same name every year, focuses on the intersection of the energy, health care, and aerospace industries. The keynote discussion, with panelists representing each industry, covered several topics, including the importance of open innovation.

If you missed the discussion, check out some key moments from the panel.

“If we want to survive as a city, we need to make sure we can work together.”

Juliana Garaizar of Greentown Labs. "From being competitive, we’ve become collaborative, because the challenges at hand in the world right now is too big to compete," she continues.

“The pace of innovation has changed.”

Steve Rader of NASA. He explains that 90 percent of all scientists who have ever lived are alive on earth today. “If you think you can do it all yourself — and just find all the latest technology yourself, you’re kidding yourself.”

“You can’t close the door. If you do, you’re closing the door to potential opportunities.”

— Michelle Stansbury, Houston Methodist. “If you think you can do it all yourself — and just find all the latest technology yourself, you’re kidding yourself.” She explains that there's an influx of technologies coming in, but what doesn't work now, might work later or for another collaborator. "I would say that health care as a whole hasn’t been very good at sharing all of the things we’ve been creating, but that’s not the case today," she explains.

“The thing that makes Houston great is the same thing that makes open innovation great: diversity.”

— Rader says, adding that this makes for a great opportunity for Houston.

“Some of our greatest innovations that we’ve had come from other industries — not from health tech companies.”

— Stansbury says. "I think that's the piece everyone needs to understand," she says. "Don't just look in your own industry to solve problems."

“Nobody knows what is the best technology — the one that is going to be the new oil."

— Garaizar says. “All of this is going to be a lot of trial and error," she continues. “We don’t have the luxury of time anymore.”

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The biggest obstacle is a lack of open-mindedness and an unwillingness of people across the industry and across generations to work together. Photo via Getty Images

What’s the biggest obstacle between us and net-zero? Is it policy? Technology? Financing? All of these are important, yes, but none of them is what is really holding us back from our energy transition goals.

The biggest obstacle is a lack of open-mindedness and an unwillingness of people across the industry and across generations to work together.

In October of 2022, I was invited to speak at Energy Dialogues’s North American Gas Forum, a conference that brings together executives from across the energy industry. Over the two days of the conference, I was amazed by the forward-thinking conversations we were having on decarbonization, the future of clean energy, emissions reduction, and much more. I returned back to campus at Duke University, energized by these conversations and excited to share them. But rather than seeing the same sense of excitement, I was met with doubt, disbelief, even scorn.

There’s a fundamental distrust between generations in this industry, and it goes both ways. Experienced energy professionals often see the younger generation as irrational idealists who are too politicized to be pragmatic, while the younger generation often paints the older generation as uncaring climate denialists who want nothing to do with clean energy. Neither is true.

Over the past two years since founding Energy Terminal, I’ve met hundreds (maybe thousands) of people all across the energy industry, from CEOs of major energy companies to students just getting started on their career journey. Despite being so different on the surface, their goals are strikingly similar. Almost all can agree on three things: we want to reduce emissions, we want to expand energy access, and we want to do so while encouraging economic prosperity. The perceived barrier between generations in the energy industry is exponentially larger than the actual barrier.

For experienced professionals — take a chance to engage in conversations with young energy leaders. Understand their priorities, listen to their concerns, and find the middle ground. We are a generation passionate about impact and growth, and enabled with the right resources, we can do incredible things. The changing energy world presents unbelievable opportunities for both progress and profit, but without the next generation on board, it will never be sustainable.

For the young energy leaders of the future–listen to the experiences of the leaders that have come before us. Understand the balance between energy that is clean with energy that is secure, reliable, and affordable. We have brilliant ideas and an insatiable appetite for progress, but we won’t do it alone. Every person and every company has a valuable role to play in the energy transition, so consider how we can amplify our strengths rather than attack each other’s weaknesses.

If my co-founder, a climate activist from New York, and myself, the son of an oil and gas family from south Texas, can do it, so can you. This is a call to find the middle ground, to open up your mind to new possibilities, and to make real progress by working with each other rather than against each other.

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Michael Wood III is co-founder of Energy Terminal, a platform that aims to build the next generation of energy leaders and to bridge the gap between youth and the energy industry.

This article originally ran on EnergyCapital.

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