Houston innovators podcast episode 43

New Houston hub calls for collaboration for flood and hurricane prevention innovation

The innovations and Houston startups that came out of Hurricane Harvey are no coincidence. Richard Seline of ResilientH2O Partners explains how he's helping foster new hurricane and flood prevention technologies in the Bayou City. Photo courtesy of ResilientH20

When it comes to insurance, most people's interaction is pretty limited buying a plan, filing claims when need be, and paying the monthly bill. However, unbeknownst to most of their insured clients, insurance companies are investing in insuratech and new innovations within the natural disaster space.

Richard Seline, managing director of ResilientH20, along with the Insurance Information Institute and The Cannon, to launch the Gulf Coast & Southwest Resilience Innovation Hub to foster this type of technology and bring insuratech startups and the big insurance players to the table — something that's not often done.

"It's two different languages," Seline says on the Houston Innovators Podcast. "There's a whole language and a whole mindset within the insurance industry that is not real well known."

The hub, which is based in downtown Houston's Cannon Tower, has been hard at work hosting virtual pitch events and networking opportunities since it launched in June just as the 2020 hurricane season commenced. Seline explains the mission is threefold: allow for reverse pitching where insurance companies tell innovators what their challenges are in hopes of inspiring new technology, introducing insuratech companies to potential investors or clients, and fostering innovation for new natural disaster prevention innovations.

On the podcast, Seline discusses new endeavors he's working on within his organization and explains the role his feels the new hub has in Houston's innovation ecosystem. To him, the city must work collaboratively to move the needle on growth of its innovation ecosystem.

"The good news is there is a lot of great activity underway in Houston right now — no questions asked," Seline says. "What we are doing can be seen as complimentary and not competitive with anyone else."

From game-changing startups to watch out for to upcoming events and partnerships for the Gulf Coast & Southwest Resilience Innovation Hub, check out the podcast. You can listen to the full interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.



Trending News

Building Houston

 
 

You can now hop online and invest in this promising cell therapy startup. Photo via Getty Images

A clinical-stage company headquartered in Houston has opened an online funding campaign.

FibroBiologics, which is developing fibroblast cell-based therapeutics for chronic diseases, launched a campaign with equity crowdfunding platform StartEngine. The platform lets anyone — regardless of their net worth or income level — to invest in securities issued by startups.

The funding, according to a press release, will be used to support ongoing operations of Fibrobiologics and advance its clinical programs in multiple sclerosis, degenerative disc disease, wound care, extension of life, and cancer.

"We're excited to partner with StartEngine on this campaign. StartEngine has over 600,000 investors as part of their community and has raised over half a billion dollars for its clients," says FibroBiologics' Founder and CEO Pete O'Heeron, in the release.

"This is an exciting time at FibroBiologics as we continue progressing our clinical pipeline and developing innovative therapies to treat chronic diseases," he continues. "This new funding will fuel our growth in the lab and bring us one step closer to commercialization."

The campaign, launched this week, already has over 100 investors, at the time of publication, and has raised nearly $2 million, according to the page. The minimum investment is set at around $500, and the company's indicated valuation is $252.57 million.

In 2021, FibroBiologics announced its intention of going public. Last year, O'Heeron told InnovationMap on the Houston Innovators Podcast of the company's growth plans as well as the specifics of the technology.

Only two types of cells — stem cells and fibroblasts — can be used in cell therapy for a regenerative treatment, which is when specialists take healthy cells from a patient and inject them into a part of the body that needs it the most. As O'Heeron explains in the podcast, fibroblasts can do it more effectively and cheaper than stem cells.

"(Fibroblasts) can essentially do everything a stem cell can do, only they can do it better," says O'Heeron. "We've done tests in the lab and we've seen them outperform stem cells by a low of 50 percent to a high of about 220 percent on different disease paths."


Trending News