HOUSTON INNOVATORS PODCAST EPISODE 262
Houston innovator drives collaboration, access to investment with female-focused group
After working in technology in her home country of Pakistan, Samina Farid, who was raised in the United States, found her way to Houston in the '70s where business was booming.
She was recruited to work at Houston Natural Gas — a company that would later merge and create Enron — where she rose through the ranks and oversaw systems development for the company before taking on a role running the pipelines.
"When you're in technology, you're always looking for inefficiencies, and you always see areas where you can improve," Farid says on the Houston Innovators Podcast, explaining that she moved on from Enron in the mid-'80s, which was an exciting time for the industry.
"We had these silos of data across the industry, and I felt like we needed to be communicating better, having a good source of data, and making sure we weren't continuing to have the problems we were having," she says. "That was really the seed that got me started in the idea of building a company."
She co-founded Merrick Systems, a software solutions business for managing oil and gas production, with her nephew, and thus began her own entrepreneurial journey. She came to another crossroads in her career after selling that business in 2014 and surviving her own battle with breast cancer.
"I got involved in investing because the guys used to talk about it — there was always men around me," Farid says. "I was curious."
In 2019, she joined an organization called Golden Seeds. Founded in 2005 in New York, the network of angel investors funding female-founded enterprises has grown to around 280 members across eight chapters. Suzan Deison, CEO of the Houston Women's Chamber, was integral in bringing the organization to Houston, and now Farid leads it as head of the Houston Chapter of Golden Seeds.
For Farid, the opportunity for Houston is the national network of investors — both to connect local female founders to potential capital from coast to coast and to give Houston investors deal flow from across the country.
"It was so hard for me to get funding for my own company," Farid says. "Having access to capital was only on the coasts. Software and startups was too risky."
Now, with Golden Seeds, the opportunity is there — and Farid says its an extremely collaborative investor network, working with local organizations like the Houston Angel Network and TiE Houston.
"With angel investing, when we put our money in, we want these companies to succeed," she says."We want more people to see these companies and to invest in them. We're not competing. We want to work with others to help these companies succeed."