Support systems

Identifying and engaging community stakeholders from the start is key to a success startup

Early and effective stakeholder outreach is a key part of a successful project. Getty Images

Often times we think of technology as innovation. But innovation and the success derived from it is not always about technological advances.

Technological advances have driven innovation in all sectors of our economy. Technology and social media have driven social change and changed how stakeholders— the public and outside influencers — impact infrastructure and construction projects, and how they advocate with policy leaders. This includes the energy, utilities, infrastructure, real estate projects, and manufacturing industries.

Often times the innovation from technology is about a new way of thinking and how one adapts to, works with, and embraces technology and how it impacts a business or an industry. It is about a willingness to do things differently because technology now drives us to think creatively and differently than in the past. It is taking a new approach to how one manages risk, solves problems and meets the challenges facing a business or an industry.

Technology has changed how we communicate as a culture. It has changed how the public communicates with business and how business has to communicate with the public. Because of the growth and influence of social media in our culture, business must now mange a new kind of risk in the risk register of a project. It has to change how it interacts and communicates with stakeholders. It has to be more attentive and listen actively compared to how it operated in the past. Gone are the days when a project manager, private equity firm/investor or company developing a project can "keep their head down so they don't get shot at."

I listed the many industries that are impacted by social media. There is no better example of an industry that has had to change and use innovative and new ways of communicating due to technology. Regardless of the energy project, the development of oil & gas, building a pipeline, new utility lines, a refinery or chemical facility the industry now has to assess who their stakeholders are, listen to them attentively, and develop a strategic plan for outreach. If a company changes how they interact with stakeholders the associated risks will be minimized, mitigated and/or reduced.

There are a plethora of energy projects I can list that highlight how a business failed to innovate in response to how they failed to adapt to, work with and embrace the technology of social media and how it impacts them. One project sums it up, Keystone.

Effective stakeholder outreach has four parts: identification, analysis, prioritization and engagement.

Identification
The first step is to identify the stakeholders. This includes those who will be directly or indirectly impacted such as local, state and federal political leaders, NGOs, media, faith-based groups, landowners, civic leaders, nearby businesses and advocacy groups.

Analysis
The analysis is an evaluation of possible risks related to the stakeholders and the community where the project is planned such as stakeholders who might be opposed to the project, have concerns or be able to influence the process in any way. Have there been issues in the community or legislative bodies that might have a negative impact?

Prioritization
Prioritization is the process of taking the results from the analysis of stakeholders and determining what risks or issues exist. These risks are ranked. Strategies and tactics are developed to address and mitigate them. Finally, a determination is made regarding how and when to communicate with stakeholders.

Engagement
Engagement is the final part of stakeholder outreach. This is the process of communicating with stakeholders to explain the project and how they will be impacted. It will also serve as an opportunity to solicit feedback and insight as well as to continue analyzing risks from stakeholders.

Early and effective stakeholder outreach is a key part of a successful project. It is a new and innovative way of thinking about how to understand and mitigate project risk. It is a willingness to change because technology has shifted how our culture communicates, advocates and engages with business, policy leaders and one another.

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Andrew Biar is founder and president of Strategic Public Affairs, a government relations and PR/communications firm based in Houston.

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Building Houston

 
 

Capital Factory's Houston HQ will be in The Ion. Photo courtesy of The Ion

A company that supports entrepreneurship and startups across the Lone Star State with mentorship and funding has announced its new homebase in Houston.

Capital Factory has revealed a new programming partnership with The Ion. Through the collaboration, Capital Factory will host programming, events, and resources within the innovation hub to grow, educate, and support Houston-based startups and entrepreneurs.

"Capital Factory's presence at The Ion will further expand the opportunities for startups and innovators in the Houston region, while strengthening an important pillar of the Texas Startup Manifesto," says Joshua Baer, founder and CEO of Capital Factory, in a news release.

Capital Factory was founded in Austin in 2009 and boosts on being the most active investor in Texas, deploying smaller investments to a multitude of early-stage startups. According to Crunchbase's data, the entity has invested in over 160 companies with 20 exits. Capital Factory officially entered the Houston market in 2019 and doubled down its presence last year when it merged with Station Houston.

Now, with its Houston headquarters moving into The Ion, the two innovation partners will take an inclusive approach to creating connections between innovators, mentors, investors, and markets, per the release.

"We are thrilled to have Capital Factory as a programming partner at The Ion" says Jan E. Odegard, executive director of The Ion, in the release. "The Ion seeks to work with key partners and established brands to help build a rich and inclusive set of startup services that can support all innovators and startups wherever they are in their entrepreneurial journey. Capital Factory brings a proven track record for providing entrepreneurs with services and investments that brings great value not only to The Ion ecosystem, but also to the entire Houston innovation ecosystem."

Capital Factory's first event at The Ion will be Open Coffee on November 16th followed by Open Coworking all day, Baer adds in his statement.

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