HOUSTON INNOVATORS PODCAST EPISODE 16

Entrepreneur feels called to demystify cryptocurrency with his Houston startup

Cryptocurrency doesn't have to be a big, confusing risk with this Houston startup's technology. Courtesy of CryptoEQ

Spencer Randall, an engineer by trade, developed a fascination with cryptocurrency, and he wasn't able to shake it.

"Once I understood the technology, it wasn't really a choice. I felt compelled and driven to learn as much as I possibly could," he says on this week's episode of the Houston Innovators Podcast. "I'd say it was more of a calling."

His interest lead him to frequent cryptocurrency and blockchain meetups, and, when those started to feel all over the place, he started to host his own meetups, focused on key issues within the technology.

It was through these meetups that Randall met who would meet Brooks Vaughan, Norman Hamilton, Michael Thoma, and Joseph Romero, who would then become the co-founders of CryptoEQ.

"There really wasn't a go-to resource (for cryptocurrency," Randall says. "What we wanted to do and what our mission today is to be the most trusted and intuitive analysis for cryptocurrencies."

So, the group of entrepreneurs created CryptoEQ, which gives cryptocurrency investors a community to interact with and learn from. The company, which works out of The Cannon, launched its version 2 for the site this month and saw a 500 percent growth among users. CryptoEQ is also planning to grow its site and resources and is hiring a new full-time employee this year.

Randall discusses trends he's seen in the industry, plans for 2020, and more in the podcast episode. Listen to the full episode below — or wherever you get your podcasts — and subscribe for weekly episodes.


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Building Houston

 
 

New partnership chair, Amy Chonis, gave her address at the 2021 GHP Annual Meeting. Sky Noir Photography by Bill Dickinson/Getty Images

With 2020 in the rearview, the Greater Houston Partnership is looking into the new year with a new board chair. In the GHP's 2021 Annual Meeting, the organization introduced how important developing the innovation community is in Houston.

In her remarks, this year's Partnership Chair Amy Chronis, who is the Houston managing partner at Deloitte, shared what she hopes to inspire in her tenure. Her statement can be boiled down to three major points.

It's time to modernize Houston's economy

Chronis says it's time to focus on tech and innovation — and that requires support from all aspects of the city.

"Here in Houston, we must be laser-focused on building a strong, diverse, 21st century economy," she says. "Over the past few years, entrepreneurs, investors, academic institutions, local government, and the corporate sector have come together to unite, grow, and promote Houston's startup ecosystem. The progress since 2016 is staggering."

Since 2016, Chronis says, venture capital investment in Houston has increased almost 250 percent to a record $714 million dollars raised in 2020. Additionally, she calls out 30 new startup development organizations that have sprung up around town — like the East End Maker Hub, The Cannon, The Ion, Greentown Labs, and so much more.

Chronis also calls out the importance of educational institutions, such as Rice University and the University of Houston.

It's the industries that drive innovation

There is a growing need to diversify Houston's economy away from just oil and gas, Chronis says it's Houston's core industries — energy, life sciences, aerospace, along with manufacturing and global logistics — that have made transformative steps.

"We've got momentum, but we still need to double down with work to do," Chronis says, identifying energy, life sciences, and aerospace as three pillars to drive success.

Regarding energy, Chronis touts Greentown Labs opening in Houston — but warns it's increasingly important to have big corporations promote the energy transition.

"From the super majors to the service firms and the increasing presence of renewable companies, Houston is at the forefront of driving the Energy 2.0 sector," she says.

When it comes to health care, Chronis remarks on the Texas Medical Center's success with the TMC Innovation Institute and the development of TMC3, a 37-acre research commercialization campus.

"What's special about TMC3 is that it will create collaboration and innovation at scale," she adds. "It will be a catalyst that will advance Houston's position as the Third Coast for Life Sciences."

Lastly, Houston must maintain its moniker as the Space City — and the city has a lot of opportunities to do that with the development of the Houston Spaceport at Ellington Airport and the NASA Johnson Space Center.

"Houston is already home to a rich talent pool of nearly 23,000 aerospace manufacturing professionals and more than 500 aerospace and aviation companies and institutions, but the potential is so much greater," Chronis says.

Houston needs to focus on four areas to "drive a technological renaissance"

Chronis concludes her speech with some calls to action. She first acknowledges that corporations ask themselves about how they are promoting and valuing innovation.

"We must be committed to inspiring, cultivating and rewarding technological innovation," Chronis says. "How is your company partnering with startups, higher education institutions and other stakeholders to drive innovation?"

Next, Chronis calls out Houston's global diversity as a differentiator when it comes to attracting companies to Houston, and she cites HPE as an example.

"We know there are hundreds of tech companies in the Valley, and up and down the West and East coasts that are striving to build global diversity within their companies," she says. "There is no better place than Houston to do this."

Third, Chronis calls for everyone — from corporates to educations — to empower the next generation of innovators.

And, finally, she says it's time to spread the word about Houston.

"We are modern, sophisticated, and at our core, an incredibly global city. Global in a way that sets us apart from most U.S. metros," she says. "So, as we embark on this work to drive Houston's technology renaissance, we must ensure perceptions of Houston are aligned with reality."

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