ABB's mobile YuMi robot cut the ribbon on its new home in the Texas Medical Center. Cody Duty/TMC

Videos: Robotics company unveils its Houston operation at the Texas Medical Center

Meet the robots

Houston has a new fleet of robots training to better streamline health care operations. ABB Robotics cut the ribbon of its Texas Medical Center incubator on Wednesday, October 9.

"This is really an exciting day for us at ABB because we are opening up our innovation hub in a globally unique place at the Texas Medical Center," says Sami Atiya, president of Robotics and Discrete Automation at ABB, at the grand opening event.

According to ABB research, the industry expects 60,000 non-surgical medical robots by 2025, which is four times that of 2018. Zurich-based ABB has 400,000 robotics products across industries in over 53 companies, but this is their first dedicated health care center. The 5,300-square-foot space located in TMC Innovation Institute, which was announced earlier this year, will have around 20 employees in the facility managing robots conducting a myriad of tasks.

The potential for collaboration between ABB and TMC is just getting started with the hub space. ABB already has connections with TMC's member institutions and ABB also recognizes the innovation avenues the TMC brings to the table.

"This is not only about the chance to interact with 25 hospitals," Atiya says. "We have the chance to interact with bright startups, bright academia, and with an ecosystem that is unique. We really looked around the world to set up this business because we need to learn. We need to interact."

One way TMC's CEO, William McKeon sees a huge opportunity for robots is in the inventory process. Right now, each hospital manages its own inventory process with its own team of employees. McKeon explains how that process can be streamlined and better organized using robotics.

"It may not be as exciting as some of the things you see here [in the hub], but it's equally as meaningful and economically important in lowering our health care costs," McKeon says.

YuMi cuts the ribbon on the new ABB facility in the Texas Medical Center

The mobile YuMi robot cut the ribbon of its new home.

A new robotics facility is headed for the TMC Innovation Institute. Courtesy of TMC

TMC plans to open one-of-its-kind robotics facility later this year

The robots are coming

The Texas Medical Center has announced its plans to open a new robotics-equipped laboratory in October of this year. The automation capabilities will allow for more efficient lab tests and services.

The new facility is being made possible by a partnership between the medical center, TMC Innovation Institute, and ABB, a leading robotics company. This would be Zürich-based ABB's first dedicated health care center, but the company has over 400,000 robotics products across industries in over 53 countries.

"The next-generation laboratory processes developed in Houston will speed manual medical laboratory processes, reducing and eliminating bottlenecks in laboratory work and enhancing safety and consistency," says Sami Atiya, president of ABB's Robotics and Discrete Automation business, in a news release. "This is especially applicable for new high-tech treatments, such as the cancer therapies pioneered at the Texas Medical Center, which today require manual and time-consuming test processes."

A team of 20 will work out of the 5,300-square-foot facility, which will be located in TMC Innovation Institute. The space will have an automation laboratory with robot training facilities, and meeting spaces for the human innovation partners.

Currently, ABB's robots specialize in food and beverage laboratories worldwide, but able to adapt to medical facilities for specific tasks, including "dosing, mixing, and pipetting tasks, as well as sterile instrument kitting and centrifuge loading and unloading," according to the release.

"We are proud to co-develop collaborative robotics systems for the hospital of the future with one of the world's most advanced partners and to test them in real-world laboratories to ensure they add value to healthcare professionals, driving innovation, and transforming how medical laboratories operate worldwide," says Atiya in the release.

According to the release, TMC's connection to innovation, startups, and researchers were key factors in bringing the facility to Houston. ABB Robotics has a long-term plan to invest and innovate in robotics, says Atiya in the release.

"The Texas Medical Center continues to push the boundaries of innovation with cutting-edge industry partners by establishing TMC as the epicenter for ABB Robotics' entry into the healthcare space," says Bill McKeon, president and CEO of Texas Medical Center, in the release. "We continually strive for opportunities to accelerate research and enhance clinical care through key strategic partnerships. ABB's move into the heart of the Texas Medical Center campus with this first-of-its-kind R&D facility for creating robotics solutions in healthcare will set a new course for advancements in medicine."

Automation nation

Courtesy of TMC

A team of 20 will work out of the 5,300-square-foot facility, which will be located in TMC Innovation Institute.

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City council approves $24M for East End hub, TMCx opens apps, and more Houston innovation news

Short stories

Houston is busting at the seams with innovation news as the ecosystem prepares to wrap up its year of growth. From grants and M&A activity to expansions and awards, there's a lot of news you may have missed.

In this latest news roundup, millions of federal funds are doled out, a female networking app commits to Houston, an accelerator launches applications, and more.

Makerspace in the East End to receive $24 million in federal funds

The East End Maker Hub

The East End Maker Hub plans to move tenants in next summer. Courtesy of TXRX

Last week, the Houston City Council voted in approval of $24 million in federal funds going toward a makerspace in the East End. The renovated 307,000-square-foot East End Maker Hub will be a place for education, training, and small-batch manufacturing.

The project is a collaboration between Urban Partnerships Community Development Corp., or UP CDC, and TXRX Lab, which will occupy around 60,000 square feet in the facility. The rest of the space will be leased out to startups.

The $37 million project is also being funded by a $5 million grant from the Economic Development Association, $7 million from New Market Tax Credits, and around $1.25 of TXRX's funds, including funds the nonprofit raised in donations.

The new facility is expected to create over 400 jobs, reach 14,000 young people annually, and support 100 small urban manufacturers, including 20 startups. The purchase close is planned for this month, and construction will begin next month. The first tenants are slated to move in next summer.

TMCx opens applications for redesigned accelerator program

The revamped TMCx program is accepting applications until December 13. Courtesy of TMC

Applications for the Texas Medical Center Innovation Institute's new and improved accelerator program are open for the spring 2020 cohort. Life science startups from around the world can apply online.

After celebrating five years of digital health and medical device startup acceleration, TMCx announced its team had been working to rethink the program to make it more something TMC's member institutions can benefit from.

Themes for the upcoming cohort include remote monitoring, virtual care, hospital efficiency, accessibility, and ideating for the clinics and operating rooms of the future.

Applications close on December 13, and finalists for an in-person bootcamp will be announced by the end of January for the two-week program from February 24 to March 6. After the program, TMCx will select the cohort members on March 20. The program then will run five sessions from April to August before a showcase slated for September.

Chevron Technology Ventures makes two strategic investments

Chevron Technology Ventures, lead by CEO Barbara Burger, has committed to two California-based companies. Courtesy of CTV

Chevron's Houston-based tech investment arm, Chevron Technology Ventures, made two moves recently. Silicon Valley-based NovoNutrients was invited to join the CTV Catalyst Program and Palo Alto, California-based Orbital Insight closed a recent round with help from CTV.

NuroNutrients, which has developed a way to create proteins through carbon capture, is the first biotech company to join CTV's Catalyst Program. The program will help advance the company's technology through market validating opportunities like pilot programs.

Orbital Insight, a geospatial analytics software company, closed its series D funding round at $50 million. The round was led by Sequoia Capital and Clearvision Ventures with contribution from CTV, as well as from Invicta Growth, Bunge Ventures Ltd, Goldman Sachs, Tech Pioneers Fund, and others. The company has raised over $125 million of funding since its founding in 2013.

Houston SaaS company makes acquisition

Coworking Space

A Houston company specializing in digital workplace software solutions has made a strategic acquisition following an exit to private equity. Getty Images

Houston-based iOFFICE, a software-as-a-service company providing solutions in the digital workplace experience, recently acquired Canadian management software entity, Hippo CMMS.

"Incorporating Hippo's solution into iOFFICE's broader application suite is a logical next stage in our company's evolution," says Mark Peterson, CEO of iOFFICE, in a news release. "As one of the leading native SaaS, asset management systems on the market today, Hippo is an ideal fit to join our brand. Their culture is very much like our own - they're strong and they move fast. Their offerings are robust, agile and they share our passion for disrupting the market with solutions that are unlike any other."

iOFFICE was recently acquired by Chicago-based private equity, Waud Capital, which has opened doors for the company to grow at a rapid pace.

Two Houston companies rank on Deloitte's annual Technology Fast 500 list

Two Houston companies made Deloitte's international list of growing tech companies. Shobeir Ansari/Getty Images

Two Houston companies have secured spots on Deloitte's annual Technology Fast 500 annual Technology Fast 500. Onit came in at No. 249, and symplr just made the list at No. 495. In its 25th year, the list represents the fastest-growing tech, media, life science, energy tech, and telecommunications companies from around the world.

The top company on the list was New York-based UiPath, which also has a large office in Houston. The company reported 37,458 percent growth. The 500 companies represent 41 states and provinces in North America, and Silicon Valley companies made up 19 percent of the list. New York City companies held on to 12 percent of the list, the New England region comprised 8 percent of the list, Washington D.C. companies were 7 percent of the list, and Los Angeles companies represented 5 percent of the 500 companies.


HerHeadquarters app plans to launch in Houston ahead of relocation

herheadquarters

HerHeadquarters is rolling out its app locally ahead of relocating to Houston. Courtesy of HerHeadquarters

Female-founded, female-focused tech company, HerHeadquarters, has plans to relocate its business operations to Houston — but first, it's rolling out its app to local female executives. The app plans to go live for the over 103,000 female CEOs in Houston on November 25.

The app's user experience is focused on making digital connections between women-run organizations. The app is live in Los Angeles, Miami, and New York City and is expected to launch simultaneously in San Francisco.

"These collaborations give them the power to increase revenue, company exposure, and expand their territory. We're excited Houston women entrepreneurs get to experience a faster and easier way to secure powerful partnerships, " says founder and CEO of HerHeadquarters, Carina Glover, in a news release.

HighRadius expands to Amsterdam

The Houston-based SaaS company is opening its fourth office to support its growth in Europe. Photo via highradius.com

Houston-based HighRadius Corp., a growing fintech software-as-a-service company, has announced a new office in Amsterdam just three years after opening its London office. Since entering the European market, the region has seen a 400 percent increase in bookings. The company, which has its headquarters in West Houston, also has an office in India.

"Automating order-to-cash and treasury management is a problem that transcends borders," says Sashi Narahari, founder and CEO of HighRadius, in a news release. "Building on the recent addition of Jon Keating as our general manager for EMEA, we continue to invest aggressively in the European market with the opening of our Amsterdam office."

Fannin Innovation Studio granted $2 million for new study

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Houston-based Fannin Innovation Studio has received a $2,000,000 Phase II Small Business Innovation Research grant from the National Institute of Health. The grant is for the development of the ChorioAnchor device, which is designed to reduce preterm birth and infections in fetal surgery.

The device is being developed in partnership with Fannin, Texas Children's Hospital, Baylor College of Medicine, and Texas A&M University. The grant will be delivered over the next two years to devlop the device for pre-clinical and clinical testing.

"The ChorioAnchor has the potential to reduce these complications by providing mechanical support to the chorioamniotic membranes following fetal surgery, thus reducing the risk for chorioamniotic separation and PPROM," says Dr. Jimmy Espinoza of Texas Children's and BCM in a news release. "The additional support from the NICHD in the form of a Phase II SBIR grant will significantly help in refining the ChorioAnchor device with the objective of obtaining an investigational device exemption from the FDA to evaluate the efficacy and safety of the device in fetal surgeries."

Zibrio named honoree at CES Innovation Awards

The Zibrio SmartScale received national recognition at CES this year. Courtesy of Zibrio

Houston-based Zibrio, which developed a scale for measuring balance, has been named an honoree for CES Innovation Awards. The company has been invited to exhibit in the 2020 showcase.

Zibrio, founded in 2015 by Katharine Forth and Erez Lieberman Aiden, has a technology that came out of the founders' research at NASA. The medical device allows users to keep track of their balancing abilities as its convenient for them, and is especially helpful for the aging population.

3 reasons venture capitalists say no, according to University of Houston research

Houston Voices

One of the most common questions that pops up in startup circles is, "Why did they turn me down?" There are myriad reasons why a venture capitalist might turn down pitches and decline funding. Here, I'll present the three most common.

They don't understand your business

Einstein once said, "If you cannot explain it to a six-year old, you don't understand it yourself."

If you spend an entire presentation showing well-researched facts and figures, talking about how groundbreaking your idea is, and presenting detailed charts and graphs, but your audience still has no idea what you do, you're in trouble.

Moreover, avoid overusing jargon and esoteric terms in your pitch. Speak simply.

If you cannot explain in simple terms what your startup does and why it's marketable, potential investors have no reason to believe you will know what you're doing with their money. To sum up, they'll think you don't understand your own business.

They don't think you've done the legwork

Some venture capitalists invest in early stage startups, so it's totally normal for them to sit through pitches where a product has not even been built yet. Consequently, the problem comes when it becomes evident the startup founder has failed to do any legwork. As a result, investors are likely to feel insecure about giving their money to someone who couldn't even do simple research.

Sure, the product hasn't been built, but that is not an excuse to sit back on cruise control. In other words, don't take your foot off the gas. Move forward constantly and don't stop learning more about your industry.

What have you done for customer development? Customer discovery? How many potential customers have you talked to? How much would they pay for your product or service? Have you studied the competitive dynamics of the market for which you will enter? Who is your competition and what are their strengths and weaknesses? You get the picture.

Certainly, one big misstep among startup founders is that they tend to believe work should not be done until they attain funding. Wrong. During your struggle to attain money, you should be busy learning everything about your industry, market, and customers. That way, once you finally get that meeting with an investor, they will feel much more confident that you will use their money intelligently.

They don't see that you have a strategy

It's an unfortunate commonality that a startup founder will put together a great pitch, get deep into it in front of a venture capitalist, and then unravel the entire presentation by exposing themselves as not having a plan of attack for the market. To clarify, it is a huge waste of your time to undo all your hard work by showing you don't have a strategy. Remember, investors are looking for reasons to pass on you.

When asked about their strategy for reaching the market, a common refrain is, "we will provide this awesome service (or make this awesome product) and the customers will roll right in." Or even "we will partner with this corporate giant who will sell our product because it's that amazing."

Above all, you must show your potential investor that you have the wherewithal to create, polish, and scale a reliable process that reaches your customer base.

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This article originally appeared on the University of Houston's The Big Idea.

Rene Cantu is the writer and editor at UH Division of Research.

Houston startup adds 2 big names to its board of directors

All aboard

A Houston startup specializing in digital community engagement has added two big names in Houston innovation to its board of directors.

Sandy Wallis and Gina Luna will both be key in moving forward Truss as new board members. Sandy Wallis is the co-founder and managing director of Weathergage Capital and the managing director of the HX Venture Fund, and Gina Luna is CEO of Luna Strategies and active member of several boards of directors.

"Our new board members are leaders in the Houston technology and innovation community, and their joining the Truss team is a testament to our compelling mission and broader market potential," says Patrick Schneidau, CEO of Truss, in a news release. Schneidau is a member if InnovationMap's board of directors.

Schneidau was tapped for his position as CEO in March and was tasked by former CEO Chris Buckner to grow the company. Schneidau is excited about the two additions to Truss's leadership.

"Gina has extensive experience across corporate, nonprofit and startup companies, as well as financial operations," Schneidau says in the release. "Sandy brings invaluable insights into capital raises; her experience in venture funding is unmatched in our city. Both new board members bring the expertise necessary to catapult our growth and expand our customer base."

In September, Truss announced its rebrand and name change from FanReact. The transition opens doors for the company to reach new clients that aren't in the sports industry — but that maybe want to take a page out of the fan experience's book.

Luna, who is the founding chairman of the board for Houston Exponential, has decades of pertinent experience and is very involved in the innovation ecosystem.

"Truss is leading in digital community experiences for athletics and is in a high-growth phase as they expand into other sectors," says Luna in the release. "I'm excited to join the board to help propel the mission and future direction of the company. The sky's the limit as groups of any kind can create the communication, collaboration and connections they desire with Truss."

Wallis has also been very invloved in the ecosystem and was named managing director of HX Venture Fund this summer. Weathergage Capital, a venture capital fund of funds with approximately $1 billion in venture partnership commitments, has been under her leadership for over 13 years.

"Truss is for organizations and their audiences who want better user experiences and levels of engagement in their digital communities," says Wallis in the release. "The market is ready for Truss's privacy-focused platform to serve these organizations. I appreciate the focus on diversity at the company and its passion for hiring the best talent across the board — goals from the company's leaders I look forward to seeing continue long term."