short stories

Greentown Houston announces grand opening, clean energy accelerators open apps, and more innovation news

In the latest round up of Houston innovation news you may have missed, applications open for Houston accelerators, Greentown Labs has a grand opening date, and more. Photo via Getty Images

It's been a crazy start to 2021 with the innovation ecosystem being especially busy. For this reason, Houston innovation news may have fallen through some of the cracks.

In this roundup of short stories within Houston innovation, Greentown Labs makes a big announcement, new accelerator programs open applications, a UH-born technology wins big, and more.

Greentown Labs announces grand opening for Houston location

Greentown Houston is opening next month. Photo via GreentownLabs.com

Last Earth Day, the City of Houston launched its first Climate Action Plan. This Earth Day, the Greentown Houston is opening its doors. On Thursday, April 22, from 2 to 3:30 pm, Greentown Labs is hosting a virtual event to mark the grand opening.

At the event, attendees will be able to meet startups that are a part of the program, hear from energy and civic leaders, catch the latest Greentown partners, and watch the building's ribbon cutting. The event is free and registration is open.

"Greentown Houston is our first out-of-state expansion, and we have already welcomed more than 20 startup members and more than 20 Founding and Grand Opening partners," reads a recent announcement from Greentown. "Located in the city's Innovation District, Greentown Houston will provide more than 40,000 sq. ft. of prototyping lab, office, and community space for about 50 climatetech startups, totaling 200-300 employees."

Rice Alliance opens applications for its clean energy accelerator program

The Rice Alliance Clean Energy Accelerator's inaugural cohort will be held virtually — but will eventually be housed in The Ion. Courtesy of Rice University

The Rice Alliance for Technology and Entrepreneurship has opened applications for its inaugural cohort for the recently announced Clean Energy Accelerator. The program will be held virtually this summer from June to September — but will eventually be hosted out of The Ion.

At the conclusion of the program, the cohort will present in a Demo Day in conjunction with the 19th annual Rice Alliance Energy Venture Forum.

Applications are due by April 14 and interested parties can apply online.

University of Houston-born innovation wins big at SXSW

A UH-born device won a $25,000 investment at a SXSW event. Photo via UH.edu

A University of Houston professor took home an innovation prize and $25,000 investment from the Southwest National Pediatric Device Innovation Consortium's Pediatric Device Prize at this year's SXSW. The UH-born device is the Pediatric Lower-Extremity Gait System – known as P-LEGS – which is a mobility assistant, rehabilitation platform and diagnostic tool designed to help children with motor disabilities. It won one of two prizes out of 18 devices.

The principal investigator for the project, Jose Luis Contreras-Vidal, is a Hugh Roy and Lillie Cullen Distinguished Professor of Electrical and Computer Engineering and the director of UH's BRAIN Center. Other team members include graduate student lead, David Eguren, as well as Alexander Steele, Yang Hu, Krishna Sarvani Desabhotla, Swagat Bhandari, Lujayna Taha, Nivriti Sabhnani, and Allen Shen.

"We were excited and honored to have been selected by the SWPDC for this award," Eguren says in a news release. "The award will be valuable in helping us continue device development and testing."

Halliburton Labs opens next round of applications

Halliburton Labs is looking for its next cohort. Photo courtesy of Halliburton

A new corporate accelerator has announced that its latest round of startup applications is open. Halliburton Labs looking for startups for its next cohort, and applications are due on April 23.

"We're excited to identify technology entrepreneurs with ready-to-scale solutions in energy generation, storage, distribution, conservation, and the circular economy," says Dale Winger, managing director of Halliburton Labs, in a news release. "Our program provides critical resources, including technical and operational expertise across numerous hardware disciplines and a global business network, to help participants advance their products, prepare for further scale and position for additional financing."

Halliburton Labs will make their selections by the ongoing program's pitch day, which is slated for May 21. The Halliburton Labs Finalist Pitch Day will be a part of the Houston Tech Rodeo.

To apply to participate, click here.

Innovative organization names new board members

Baylor College of Medicine-supported, and NASA-backed TRISH has new board members. Photo via NASA/JPL-Caltech

The Translational Research Institute for Space Health — known as TRISH — recently announced seven new members to its Scientific Advisory Board. The Houston-based, NASA-funded organization is focused on cultivating space health innovations.

"We are at the cusp of space becoming more accessible to regular people. We are working toward safeguarding the health of all humans -- astronauts exploring deep space and people with preexisting conditions that want to experience space for short periods," says TRISH Director Dorit Donoviel. "TRISH's diverse advisory board members will help us focus our resources on the most impactful health technology and science innovations."

According to a press release, the newly appointed members are:

They join existing members:

Trending News

Building Houston

 
 

A Houston founder shares an analysis of relationship banking, the pros and cons of digital banking competition, and an outlook of digital banking inroads to develop relationship banking. Photo courtesy

After our doctor and our child’s school, a bank is an institution with which we share the relationship that is most personal and vital to our well-being in this world. Some might put a good vet third, but other than that, no private entity is more responsible for escorting us to a healthier and happier outcome over the course of our lives.

The bank vault is a traditional symbol of security and prosperity, and not just for our pennies. We safeguard possessions in banks that are so important we don’t even trust keeping them in our own houses. Wills, birth certificates, and the precious family heirlooms of countless families are held in safety deposit boxes behind those giant vault doors, and banks have been the traditional guardians not only of our wealth but our identity and future as well.

The importance of relationship banking

Faith and confidence in our banks is so fundamental to the customer relationship that it has evolved into a unique and otherwise unthinkable arrangement for any good capitalist in a healthy marketplace: banks pay us to be their customers. Imagine a doctor offering you $20 for trusting them to give you a colonoscopy and you’re on the road to understanding the sacrosanct union between bank and customer.

In fact, this trust is so deeply anchored in the American psyche that a new generation of digital banking companies has sprung up on the idea that it doesn’t need to exist in physical reality. The fintech industry has exploded in the last decade, and today, over 75 percent of Americans are engaged in online banking in one form or another. Every single one of those 200 million customers are taking for granted that they will be well served, despite having no personal guidance through any of the financial products and services that these online entities provide.

Benefits of fostering relationships with banking customers

In the late 90s and early 2000s brick-and-mortar banks realized that greater personalized care for their customers was going to be a critical point of competition. The in-person experience is an opportunity to offer advice and incentives for a wide range of products and financial management assistance. It’s rooted in an incredibly simple axiom that is taking hold in every aspect of modern society: everyone benefits if we all get along better.

There’s a lot of statistical traction behind this theory. Customers who report they are “financially healthy” are down 20 percent over the last year, which means people are looking for guidance. 73 percent of customers who visit a local bank branch report having a personal relationship with their bank, while only 53 percent say the same of their digital institution. Most importantly, although many digital banks are offering similar products and services to their real-world counterparts, customer engagement remains very low.

It starts with your products

The truth is, today’s bank customers still want that same personal relationship their great-grandparents had before they engage with deeper financial products and services. They believe it makes them more financially successful, and confirm that human connections and economic prosperity go hand-in-hand.

Products that are Challenging for Digital Markets

Residential mortgages, for example, are an $18 trillion dollar industry that deals in durations longer than most digital banking services have even existed. The perception of continuity and stability is highly valued by clients in the mortgage relationship. Today, most customers feel that only comes with a handshake and a smile from an employee who has to fit in a meeting before they pick their kids up from school.

While digital firms have proven themselves capable of offering savings and checking services, most have fallen flat on the mortgage front because of the premium on personal relationships. Loyalty is the reward for time, service, and shared experience, and financial institutions that cannot provide that package for their customers are never going to access a deeper and more meaningful portfolio of services.

Finding Well-suited Products for Digital Finance

The message for the digital finance world is as clear as it is pressing. The future of the industry will revolve around more personalized experiences, interactions, and long-term products. At the same time, the American public has embraced digital banking, and we are looking at a new generation of bank users who may never walk through a branch door in their life.

In order to compete, the digital industry will need to identify and develop a range of long-term products and services that make sense for customers in today’s environment. Mortgages may be out of the question, but the safety deposit box holds great promise for industry in-roads. Optimal services for deeper, more personal customer engagement include things like:

  • Legacy and estate planning
  • Will preparation and safeguarding
  • Preservation of cherished photos and videos
  • Important personal data storage


Because these things are product-based, they are well suited to the digital ecosystem. The cryptocurrency industry and modern online banking have solidified consumer confidence in the digital bank vault, and there is a great deal of faith in the perpetuity of electronic documents and storage.

The IRS estimates that upwards of 90 percent of Americans are E-filing their taxes and that only comes with a widespread belief that our highly sensitive information can and will be preserved and protected by digital architecture.

Secure your future

Digital banking firms that want to thrive in the upcoming decades are going to need to innovate in long-term financial planning products that bring their customers into a closer, more personal relationship with them.

The finance world will continue to change and develop, but the hopes, fears, and dreams of people trying to build and secure a better future for themselves and their children will remain the same for tomorrow’s customers as they were for their parents and grandparents.

It is up to the digital finance industry to adapt and develop to provide the customers of today—and tomorrow— with these invaluable services and securities.

------

Emily Cisek is the founder and CEO of The Postage, a tech-enabled, easy-to-use estate planning tool.

Trending News