new digs

Photos: Rice Alliance reveals new office space

The Rice Alliance unveiled its new Gensler-designed, 3,000-square-foot office space. Photo courtesy of the Rice Alliance

Rice University's entrepreneurship-driving entity has a new, updated office on campus. The Rice Alliance for Technology and Entrepreneurship cut the ribbon on its 3,000-square-foot Bill and Stephanie Sick Suite just in time for the holidays.

The space was made possible by a $1 million donation from its namesake couple, Rice engineering alumnus William "Bill" Sick and his wife, Stephanie. Bill Sick was among the first supporters and mentors to the program when it was formed in 2000.

"[Bill is] passionate about building entrepreneurship at Rice University and passionate about the importance of entrepreneurship in driving innovation and economic development in this country," Brad Burke, managing director at the alliance, says. "Bill has watched Rice's program go from an unranked program to the No. 1 entrepreneurship program in the country and felt the Rice Alliance needed a larger, more appropriate space commensurate with the Rice Alliance's impact on Rice and on the Houston community."

Burke says the Rice Alliance's new home — located in McNair Hall, which houses the Jones Graduate School of Business — will be better accommodating for the number of industry professionals that come onto the Rice campus for events, programming, mentorship, and more.

"The Rice Alliance meets frequently with venture capitalists, entrepreneurs, students, mentors, and other members of the Houston entrepreneurial ecosystem," Burke says. "The new space is on the first floor of the Jones School and is much more accessible and visible to our guests and visitors."

The Bill and Stephanie Sick Suite has doubled the Alliance's space and has allowed the organization to co-locate with another innovation-focus entity on campus. The Liu Idea Lab for Innovation & Entrepreneurship, or LILIE, will have an office in the space, better connecting the two organizations that have worked hand-in-hand for a number of years.

Some visual elements of the space include bright green walls, which sets the Rice Alliance apart from the school with an energetic feel. The space also features a number of Houston art, including:

  • A three-paneled piece by local Houston artist DUAL, which was commissioned by Rice Alliance for the 2019 Rice Business Plan Competition.
  • A neon sign, designed and created by Houston artist Tim Walker of The Neon Gallery adorns the entrance wall.
  • In a way to honor Houston's history, mosaic tile flooring from the Blue Tile Project is also featured in the space.

Gensler designed the space and b. bell builders was the general contractor. Quynhmai Nguyen, Rice Alliance's senior director of operations and event planning, worked with Gensler and made the final detailed design decisions.

Energetic new space

The new space, which premiered with a holiday party last week, features a neon sign, designed and created by Houston artist Tim Walker of The Neon Gallery.

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Building Houston

 
 

The HX Venture Fund has grown its portfolio of venture capital firms with its latest investments. Getty Images

The HX Venture Fund, which invests in out-of-town venture capital funds that have their eyes on Houston startups, has grown its portfolio.

The fund of funds now has a portfolio of 10 VCs from across the country, across industries, and across startup stages. According to a recent announcement, the HX Venture Fund has invested in New York-based Greycroft Venture Partners and Washington D.C.-based Revolution Ventures. The announcement also included Boston-based Material Impact and San Francisco-based venBio Global Strategic Fund, however those had been previously reported by InnovationMap.

"We are delighted to partner with the general partners of Greycroft Venture Partners, Material Impact, Revolution Ventures, and venBio Global Strategic Fund," says Sandy Guitar, managing director of HX Venture Fund, in the release. "With their proven expertise and exceptional track records, we are excited to integrate them into Houston networks and not only give them access to the Fund's innovative corporate limited partners, but also harness their knowledge to empower Houston entrepreneurs."

These four VC funds join six others that HXVF has invested in: Austin-based LiveOak Venture Partners and Next Coast Ventures, Washington D.C.-based Updata Partners, Chicago-based Baird Capital, and Boston-based .406 Ventures and OpenView Venture Partners.

"The receptivity of the HX Venture Fund model has exceeded all our expectations. Since early 2019, over 217 venture capital funds across the U.S. have expressed definitive interest in participating in our model," says Guillermo Borda, managing director of HX Venture Fund, in the release.

"It is especially noteworthy that collectively, the ten funds selected for HX Venture Fund's portfolio have $3.7 billion in committed capital in their funds to be invested with Houston on their investment radar," Borda adds. "This is at a time that provides compelling investment opportunities in the economic cycle. This is an exciting time for Houston entrepreneurs and our innovation ecosystem."

Guitar previously told InnovationMap that she's looking to curate a portfolio of VCs that is diverse in industries and stage. Additionally, before investing in a VC, the HX Venture Fund looks for an interest in investing into Houston startups. The hope is that, while not required, the HXVF portfolio funds invest in a Houston startup down the road. Earlier this year, Houston-based Liongard became the fund of funds' first example of that.

"The innovation and talent in Houston are best-in-class; we want to be investing there," says Tige Savage, managing partner at Revolution Ventures, in the release.

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