Q&A

Chevron exec shares why the company is invested in the Houston innovation community

Barbara Burger, president of Chevron Technology Ventures, discusses Chevron's deal with The Ion and its commitment to Houston. Courtesy of CTV

Chevron's innovation arm continues to be a leader among Houston's innovation ecosystem, and recently the energy company announced it is the first to lease space at a rising innovation hub.

Last week, Chevron was announced to be the first tenant at The Ion, and that includes opportunities for Chevron Technology Ventures as well as the whole company. Barbara Burger, president of Chevron Technology Ventures, discussed with InnovationMap why this is a great opportunity for the company and what else she's excited about in terms of Houston innovation.

InnovationMap: Chevron has been announced as the first tenant in The Ion. Why are you and CTV excited about this new innovation hub?

Barbara Burger: Chevron is excited because the innovation of The Ion is really a great example of the burgeoning innovation ecosystem in Houston. The Ion actually is almost a model of the ecosystem. It is a physical space, it is a set of programs, and it is a community and Chevron wants to be a part of all of that. We're excited about being able to be the first tenant and encourage others to join in with us because the community will work when it is full, diverse, and active. If we can lead the charge or play a role in leading the charge, we will.

I also want to say we are excited because this isn't just for CTV. We also want to encourage Chevron Houston employees — some 8,000 of them — to be a part of this innovation ecosystem. And The Ion is one place where they can venture out and see what's happening — outside of our office buildings in town and outside of their daily responsibilities — and get a taste and a feel and let it go from there.

IM: What opportunity does the new space provide for you and your team?

BB: We need innovation from everyone. Our industry and our company, like any other industry or company is undergoing dramatic change. And the more you know about where the world is going and the more you can partner with all kinds of different players, the more solutions you have to navigate successfully in that transformation.

We're known as a company that partners. Partnership, I think, is going to be critical in the world going forward and we value the ability to partner with firms and people that are both like us and not like us. I view The Ion is one example where you're bringing together lots of different kinds of people, because if you only just bring the same kinds of people together, you're missing the element of diversity. So, this allows our employees to experience that on one more level.

IM: CTV has been an integral part of Houston innovation for 21 years now. What do you see you and CTV’s role in the ecosystem?

BB: I've told this story many times, but when I moved here and took the job as the head of CTV, I did some homework and found out that we had more portfolio companies from Stavanger, Norway, than from Houston, Texas. And, that was a data point that, to be honest, baffled me a little. And the more we've looked at that we've said we will invest around the globe. We will collaborate with all kinds of players, but how come there's no hometown advantage? And so that sort of thirst and quest for that coincided with the GHP and the mayor's initial work on innovation. It was like right place, right time. And then we saw a role as a longstanding player in corporate venture and that investing in the ecosystems will bear fruit for us and for the work we do.

We prioritized helping to grow this ecosystem — investing in it for the future. It is our home court. We had a lot of the relationships and we continued to build them. And we also knew, because of our longstanding experience in tech ventures and our large presence in Houston, that when Chevron did something people would notice, and they would want to get on board. And it's not a competitive thing. It's really a leadership thing because it will take a lot of us to make that happen.

IM: You also serve as board chair for Houston Exponential. Why are you passionate about serving on the board?

BB: Every single board member wears a hat associated with their role in the ecosystem. And everybody wears a hat that says Houston on it. Without their sort of self-interest hat, they would have no interest in being on this board. But without the Houston hat, they don't work together towards the goal.

IM: You recently spoke at the HTX TechList launch. What difference is the new platform going to make for corporate venture?

BB: Corporate venture is a diverse group. There are some of us who have been around for a really long time and new companies, just starting out. And it is all in our best interest to help each other be good corporate ventures. I think the tech list is one of the tools by which you do that so that you know who's out there — it's like the global address list except for external.

IM: How does Chevron’s Catalyst Program work with CTV’s investment arm?

BB: We think holistically about how to access external innovation and really do the integration play with Chevron. We have to look really broadly at a complete set of tools.

The catalyst program is early stage — some people call it seed stage. It's a milestone-based grant program. It is an early look and an early relationship with a company that has something that we're interested in and is aligned with some of the problem sets we're looking for. We want to take an early look and we want to support them there. There is a financial support in the form of a grant — so that's good for the startup. It's a chance for them to demonstrate their abilities — not just technical, they're a company, so also their ability to execute and get things done. It's a chance for us to see, "does this really align with the problem sets we want to do?" And then, their last milestone is a series A term sheet. So, we have plenty of chances to invest in them afterwards. We didn't have a tool in that space. And I think, you know, pre-series A or pre-institutional investment is an important area of support that's required for innovation.

IM: Chevron is also a launch partner for Greentown Labs. What are you excited about for that partnership?

BB: We've supported Greentown in Boston since the early days, and what we liked about Greentown as an incubator was that they're trying to solve tough problems. A lot of their innovation involves either hard tech or process tech. They provide physical space, a set of programs, and community — similar to the three prongs I talked about with The Ion. And, importantly, they provide a specialized facility that early companies can never afford to have on their own — lab space, machine shop type of things, etc.

As a city, we do want to be — and we can be — the leader in the energy transition. So, we need to have the pieces of the puzzle so that we can play a leading role in that. And we saw Greentown as one of the ingredients in that overall recipe.

IM: What is it that Houston needs to do to be a leader in the energy transition?

BB: We're doing a lot of things right — almost in spite of the world being crazy. I think commitment to that vision is important, including collaboration across the different parts of the city — at the city level, at the corporate level, at the investor level, at the universities. I think just like everybody in Houston is connected to the industry — even if you're not in the energy industry, you know a lot about it just by living in Houston. So, I think being able to rally around that as a city is going to be important.

Again, I think constancy of purpose is important. Despite the headwinds from COVID and despite the headwinds that industries are facing, we need to stay committed to that. That's what I think we need to do. All these pieces are like pieces of a puzzle. But innovation is not a straight path. We've got to plant a bunch of these seeds and see how they grow — we need to water them every day, and then I think we'll have a beautiful garden.

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This conversation has been edited for brevity and clarity.

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Building Houston

 
 

Proxima Clinical Research has announced an office expansion — and more Houston innovation news. Photo via Twitter

Houston's innovation ecosystem has had some big news this month, from new job titles for Houston innovators to expanding office space.

In this roundup of Houston startup and innovation news, a Houston organization expands its footprint in the TMC, Rice University opens applications for a cleantech accelerator, and more.

Organization expands footprint in Houston

Proxima CRO has announced its expansion within TMCi. Photo via Twitter

Proxima Clinical Research, a contract research organization headquartered in Houston, announced that it is expanding its office space in the Texas Medical Center Innovation Factory.

"Texas Medical Center is synonymous with innovation, and the TMC Innovation space has proven an ideal location for our CRO. It's an important part of our origin story and a big part of our success," says Kevin Coker, CEO and co-founder of Proxima CRO, in a news release.

The expansion will include around 7,500-square feet of additional office space.

"The resources found across TMC's campuses allow for companies such as Proxima Clinical Research to achieve clinical and business milestones that will continue to shape the future of life sciences both regionally and globally. We are excited for Proxima to expand their footprint at TMC Innovation Factory as they further services for their MedTech customers," says Tom Luby, director of TMC Innovation, in the release.

$20M grant fuels hardtech program's expansion

Activate is planting its roots in Houston with a plan to have its first set of fellows next year. Photo via Activate.org

A hardtech-focused nonprofit officially announced its Houston expansion this week. Activate, which InnovationMap reported was setting up its fifth program here last month, received a $20M commitment by the National Science Foundation to fuel its entrance into the Bayou City.

“Houston’s diversity offers great promise in expanding access for the next generation of science entrepreneurs and as a center of innovation for advanced energy," says NSF SBIR/STTR program director Ben Schrag in a news release.

The organization was founded in Berkeley, California, in 2015 to bridge the gap between the federal and public sectors to deploy capital and resources into the innovators creating transformative products. The nonprofit expanded its programs to Boston and New York before launching a virtual fellowship program — Activate Anywhere, which is for scientists 50 or more miles outside one of the three hubs.

“We are delighted to be opening our newest Activate community in Houston,” says Activate Anywhere managing director Hannah Murnen, speaking at the annual Advanced Research Projects Agency-Energy Innovation Summit. “Houston is a city where innovation thrives, with an abundance of talent, capital, and infrastructure—the perfect setting for the Activate Fellowship.”

Activate is still looking its Houston’s first managing director is actively underway and will select fellows for Activate Houston in 2024.

TMC names new entrepreneur in residence

Zaffer Syed has assumed a new role at TMC. Photo via TMC.org

Houston health tech innovator has announced that he has joined the Texas Medical Center's Innovation Factory as entrepreneur in residence for medtech. Zaffer Syed assumed the new role this month, according to his LinkedIn, and he's been an adviser for the organization since 2017.

Syed has held a few leadership roles at Saranas Inc., a medical device company founded in Houston to detect internal bleeding following medical procedures. He now serves as adviser for the company.

"As CEO of Saranas, he led the recapitalization of the company that led to the FDA De Novo classification and commercial launch of a novel real-time internal bleed monitoring system for endovascular procedures," reads the TMC website. "Zaffer oversaw clinical development, regulatory affairs and strategic marketing at OrthoAccel Technologies, a private dental device startup focused on accelerating tooth movement in patients undergoing orthodontic treatment.

"Prior to working in startup ventures, Zaffer spent the first 13 years of his career in various operational roles at St. Jude Medical and Boston Scientific to support the development and commercialization of Class III implantable devices for cardiovascular and neuromodulation applications."

TMC is currently looking for an entrepreneur in residence for its TMCi Accelerator for Cancer Therapeutics program.

Applications open for clean energy startup program

Calling all clean energy startups. Photo courtesy of The Ion

The Clean Energy Accelerator, an energy transition accelerator housed at the Ion and run by the Rice Alliance for Technology and Entrepreneurship, has opened applications for Class 3. The deadline to apply is April 14.

The accelerator, which helps early-stage ventures reach technical and commercial milestones through hybrid programming and mentorship, will host its Class 3 cohort from July 25 to Sept. 22.

“Accelerating the transition to a net-zero future is a key goal at Rice University. Through accelerating the commercial potential of our own research as well as supporting the further adoption of global technologies right here in Houston, the Rice Alliance Clean Energy Accelerator is proof of that commitment,” says Paul Cherukuri, vice president of innovation at Rice, in a news release. “The Rice Alliance has all the critical components early-stage energy ventures need for success: a corporate innovation network, energy investor network, access to mentors and a well-developed curriculum. This accelerator program is a unique opportunity for energy startups to successfully launch and build their ventures and get access to the Houston energy ecosystem.”

According to Rice, the 29 alumni companies from Class 1 and 2 have gone on to secure grants, partnerships, and investments, including more than $75 million in funding. Companies can apply here, learn more about the accelerator here or attend the virtual information session April 3 by registering here.

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