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SXSW panel: What Houston needs to do to develop as an equitable tech ecosystem

Three Houston innovators discussed the strides the city is making in terms of equitable funding opportunities. Photos courtesy

Houston has consistently been recognized as one of the most diverse cities in the country — but is that translating into equitable funding opportunities for diverse founders? A panel at SXSW this year discussed whether or not Houston's playing field is level for people of color within the innovation ecosystem.

"People do business with who they know — and who they like," says Felix Chevalier, co-founder of Urban Capital Network, when the panel was asked where the disconnect is with funding diverse founders. "I think it boils down to a lack of exposure and a lack of relationships."

Chevalier was joined by Jesse Martinez of Resolved Ventures and VamosVentures and Denise Hamilton of WatchHerWork, who moderated the discussion, which was hosted in the Greater Houston Partnership's Houston House on Sunday, March 13, at SXSW in Austin.

"We have to look at the pipeline — what the existing ecosystem looks like," says Martinez, who leads the LatinX Alliance, an organization that's relocating its operations to Houston. "We have new funds, new diverse GPs, and we have more investors — and we're building talent. ... We are making great strides, but we still need more of us to be funding our diverse founders."

The key to the equation, the panelists agreed, is education and programming — both for potential investors, like UCN does with its hands-on support for its diverse investor base, and for founders of color who might be more hesitant to plunge by starting a company.

"The way you start to dissolve that fear for folks, for example, who may be in a corporate space but may want to spread their entrepreneur wings, is to just get involved with the ecosystem," Chevalier says. "What ends up happening is you bump into someone you know or someone who is from the same talent you are originally — all you have to do is immerse yourself in the environment."

"The opportunities are out there, but it is incumbent upon in those who want it to put themselves in a position to meet people who are in the environments that are going to help facilitate whatever your objectives are," he continues.

Hamilton explained her experience raising money as a Black woman — investors didn't want to bet on her. It's a chicken and an egg situation, she says, and support for diverse founders in terms of programming and investors focused specifically on underserved communities are going to help break the cycle. It's not about charity, but equitable opportunities.

"I don't want any charity – I don't want an overabundance of kindness. Scaffold me like you scaffolded Mark Zuckerberg," Hamilton says, giving Facebook as an example of a company that was supported in a way she never had. "If you are going to be in a nascent ecosystem, you need to have structures that explain why your pitch deck has to be efficient, why you need a team. We've got to not focus just on the money piece, but on this whole psychosocial aspect."

With Hamilton's call to Houston's development as an equitable tech ecosystem, the conversation turned to discuss whether or not Houston is ready to provide this support to startups and rise to being the global innovation hub the city wants to be.

"We've got to find our tribe. We have all the pieces," Martinez says. "It's going to take time, and we have to be very intentional. ... It's really about thinking of Houston as a startup itself. How do we act as a team, and bring in partners and investors to make it a thriving ecosystem over time."

It takes commitment, Hamilton says, and that's happening in the Bayou City.

"Everything is not figured out right now — but there's a commitment to figuring it out," she says. "It's not going to be Silicon Valley overnight — it will never be Silicon Valley. Because this is Houston."

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A research team housed out of the newly launched Rice Biotech Launch Pad received funding to scale tech that could slash cancer deaths in half. Photo via Rice University

A research funding agency has deployed capital into a team at Rice University that's working to develop a technology that could cut cancer-related deaths in half.

Rice researchers received $45 million from the National Institutes of Health's Advanced Research Projects Agency for Health, or ARPA-H, to scale up development of a sense-and-respond implant technology. Rice bioengineer Omid Veiseh leads the team developing the technology as principal investigator.

“Instead of tethering patients to hospital beds, IV bags and external monitors, we’ll use a minimally invasive procedure to implant a small device that continuously monitors their cancer and adjusts their immunotherapy dose in real time,” he says in a news release. “This kind of ‘closed-loop therapy’ has been used for managing diabetes, where you have a glucose monitor that continuously talks to an insulin pump. But for cancer immunotherapy, it’s revolutionary.”

Joining Veiseh on the 19-person research project named THOR, which stands for “targeted hybrid oncotherapeutic regulation,” is Amir Jazaeri, co-PI and professor of gynecologic oncology at the University of Texas MD Anderson Cancer Center. The device they are developing is called HAMMR, or hybrid advanced molecular manufacturing regulator.

“Cancer cells are continually evolving and adapting to therapy. However, currently available diagnostic tools, including radiologic tests, blood assays and biopsies, provide very infrequent and limited snapshots of this dynamic process," Jazaeri adds. "As a result, today’s therapies treat cancer as if it were a static disease. We believe THOR could transform the status quo by providing real-time data from the tumor environment that can in turn guide more effective and tumor-informed novel therapies.”

With a national team of engineers, physicians, and experts across synthetic biology, materials science, immunology, oncology, and more, the team will receive its funding through the Rice Biotech Launch Pad, a newly launched initiative led by Veiseh that exists to help life-saving medical innovation scale quickly.

"Rice is proud to be the recipient of the second major funding award from the ARPA-H, a new funding agency established last year to support research that catalyzes health breakthroughs," Rice President Reginald DesRoches says. "The research Rice bioengineer Omid Veiseh is doing in leading this team is truly groundbreaking and could potentially save hundreds of thousands of lives each year. This is the type of research that makes a significant impact on the world.”

The initial focus of the technology will be on ovarian cancer, and this funding agreement includes a first-phase clinical trial of HAMMR for the treatment of recurrent ovarian cancer that's expected to take place in the fourth year of THOR’s multi-year project.

“The technology is broadly applicable for peritoneal cancers that affect the pancreas, liver, lungs and other organs,” Veiseh says. “The first clinical trial will focus on refractory recurrent ovarian cancer, and the benefit of that is that we have an ongoing trial for ovarian cancer with our encapsulated cytokine ‘drug factory’ technology. We'll be able to build on that experience. We have already demonstrated a unique model to go from concept to clinical trial within five years, and HAMMR is the next iteration of that approach.”

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