Overheard: Houston innovators discuss ESG, energy transition, cleantech and more at SXSW

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The city's top power players within Houston's energy innovation ecosystem joined virtual SXSW to weigh in on hot topics — from ESG to the future of the industry's workforce. Photos courtesy

The first day of SXSW 2021 — a virtual edition of the Austin-based conference — is on the books, and Houston innovators were no strangers to attendees' screens thanks to Houston House put on by the Greater Houston Partnership.

Day one of the two days of programming focused on all things energy — power storage, corporate venture, ESG, the future of the workforce, and so much more — with interviews hosted by me, Natalie Harms, editor of InnovationMap. Missed out on the fun? Catch up with a few overheard moments from Houston House or stream the full interviews below.

“Successful entrepreneurs are critical for re-investing in the community, and we’re trying to nurture that base now.” — Kirk Coburn, investment director at Shell Ventures

Video courtesy of the Greater Houston Partnership

What are the roles of energy corporations when it comes to innovation development? And what else does a successful innovation ecosystem need? At a virtual SXSW Houston House panel, panelists Kirk Coburn, investment director of Shell Ventures, and Bill Collins, founder and CEO of LO3 Energy, discuss the role of corporate innovation and venture support and the future of energy security. Click here to watch the full interview.

“If we’re going to improve performance in the energy industry, we are going to have to work better together and collaborate together.” — Al Carnrite, president and CEO of Carnrite Group

Video courtesy of the Greater Houston Partnership

Environmental, social, and governance, aka ESG, has the power to disrupt the energy transition and has already made a huge impact on energy company's short- and long-term goals. At a virtual SXSW Houston House panel, Andrew Bruce, founder and CEO, of Data Gumbo, and Al Carnrite, president and CEO of Carnrite Group discuss the emergence of ESG and how it's affecting the global energy transition. Click here to watch the full interview.

“While Houston remains the energy capital of the world, Houston is much, much more than oil and gas. Innovators in Houston are leading the charge towards creating a lower carbon future.” — Mayor Sylvester Turner

Video courtesy of the Greater Houston Partnership

How's business in Houston? At a virtual SXSW Houston House HOU Talk, Mayor Sylvester Turner gives an update on how the innovation ecosystem has developed over his tenure. Click here to watch the full interview.

"Houston is a renewable energy capital that no one knows about — in addition to being the energy capital.” — Emily Reichert, CEO at Greentown Labs

Video courtesy of the Greater Houston Partnership

In order to maintain its role as the energy capital of the world, Houston needs to advance its role in clean energy innovation. Greentown Labs, which is opening its new Houston facility in just a matter of months, will help move that needle locally. At a virtual SXSW Houston House HOU Talk, Emily Reichert, CEO of Greentown Labs, shares how Greentown Houston will act as a convener and a place to spark cleantech innovation. Click here to watch the full interview.

“We think material science is the new tech boom. And Houston is the place to be for it.” — Mike Francis, CEO and co-founder of NanoTech

Video courtesy of the Greater Houston Partnership

Houston's no stranger to engineering and physical science. Over the past several decades, the city has accumulated major hard tech businesses and talent within oil and gas. Now, it's time to lean on that infrastructure to allow for a hard tech and material science revolution. At a virtual SXSW Houston House panel, Dale Winger, managing director at Halliburton Labs, and Mike Francis, CEO and co-founder of Nanotech, discuss how materials science plays a major role in advancing the energy transition. Click here to watch the full interview.

“This isn’t your daddy’s oil patch. This is an opportunity where we can really leverage the people we have in the city to drive us forward.” — Katie Mehnert, founder and CEO of Ally

Video courtesy of the Greater Houston Partnership

What does the future of the energy workforce look like? For one, it looks way different from decades past. At a virtual SXSW Houston House HOU Talk, Katie Mehnert, founder and CEO of ALLY, weighs in on how diversity — racial, gendered, and even generational — is extremely key moving the industry forward. Click here to watch the full interview.

“We are seeing now this inflection point where there is this next build out of utility. Texas in particular is a great proving ground.” — Doug Moorehead, managing partner and CTO of Broad Reach Power

Video courtesy of the Greater Houston Partnership

On the heels of the state's worst winter storm power outage, the energy and power industries are rethinking weatherization and power storage for the future. At a virtual SXSW Houston House HOU Talk, Doug Moorehead, managing partner and CTO of Broad Reach Power, discusses the future of energy storage and how profoundly important it is toward preventing another winter storm power outage like Texas experienced in February. Click here to watch the full interview.

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Houston med device startup raises $18M, prepares to hire

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A Houston medical device company that is developing an artificial heart announced it has received investment funding to the tune of $18 million.

BiVACOR's investment round was led by Boston-based Cormorant Asset Management and Australia's OneVentures's Healthcare Fund III. According to the company, the funding will be deployed to continue research and development, hiring executives, and support the path to first in human trials.

“We are extremely grateful for the ongoing support from our core investors," says Thomas Vassiliades, who was named CEO of BiVACOR last year, in a news release. "This additional commitment further validates our technology and the need for improved options to treat end-stage biventricular heart failure.

“With this financing, we will be able to double the size of our organization and add key positions from the C-suite to research and development. We are well positioned to advance our preclinical activities and aim to conduct our First in Human early feasibility study planned for the end of the year,” he continues.

Billed as the first long-term treatment for patients with severe biventricular heart failure, the BiVACOR Total Artificial Heart is an implantable artificial heart that utilizes rotary blood pump technology. This technology includes magnetic levitation and is a "durable, reliable, and biocompatible heart replacement," per the company's release. It's about the size of a fist and can be used in a wide range of patients including some children and women and up to adult males.

“Under the leadership of its expert management team, the company has developed a credible strategy for growth as they march toward first in human studies,” says Jeannie Joughin, board chair and principal at One Ventures, in the release. “There is a huge gap in care for patients waiting for a heart transplant, and we are confident that BiVACOR will continue to execute its strategy to swiftly get the Total Artificial Heart into the patients who need it most.”

The company raised its $22 million series B round in early 2021, which was also led by Cormorant Asset Management and OneVentures. To date, BiVACOR has raised $60 million.

“BiVACOR continues to execute on its strategy, and there was no question that we would jump in to lead this funding,” says Bihua Chen, CEO and founder of Cormorant Asset Management. “We are impressed by BiVACOR’s world-class team and continued dedication to push the technology in the clinic. We’re excited to support their growth and vision to transform the treatment of biventricular heart failure with the world’s first fully MAGLEV total artificial heart.”

Founded in 2008, BiVACOR maintains offices in Cerritos, California, and Brisbane, Australia. The company is affiliated with Houston's Texas Heart Institute, where the world's first artificial heart was implanted. BiVACOR's headquarters is at the Texas Medical Center complex.

How to utilize AI and ChatGPT to increase employee productivity, according to this Houston expert

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We are crossing a Rubicon. A point of no return. The birth of Chat GPT has opened a world of possibilities not seen before. Though artificial intelligence has been a part of our lives for many years, it has now taken a form that will become more universal. And nowhere will it be more prevalent than in the workplace. Companies all around the world are using this technology to transform the way we work and the offices we inhabit. The race is on.

Many companies are already using AI to drastically change their office design and the way they work. Those that haven’t embraced it are now faced with a choice – to incorporate the AI revolution into their business, tactics, and workspace or get left behind. Luckily, the companies that are utilizing AI and ChatGPT have proven several ways that the technology can benefit their workflow and company culture, including:

  • Speech recognition capabilities
  • Task automation
  • Improved workplace design

In this article, we will explore each of these benefits and how they are helping businesses enhance productivity, support their employees, and transform their offices.

Voice to Text Capabilities

Companies are using AI to support employees by alleviating mundane tasks that can lead to burnout, starting with typing. AI-powered speech recognition software enables employees to use their voice to respond to emails, create reports, and fill out forms. This type of solution is effective because the average typing speed is in the 40 words per minute range. However, speech-to-text entries are about three times faster and more accurate. Additionally, the technology can reduce repetitive stress injuries and eliminate barriers for employees with disabilities.

Task Automation

AI-powered technologies can also automate other tasks like generating meeting summaries and minutes. This can save time and ensure that critical information is not missed. ChatGPT can even automate the scheduling of meetings and appointments. Shaffra, a company in Dubai, is utilizing the chatbot’s services to free up time and resources for more creative and strategic work. Other startups like Growdash are leveraging ChatGPT to provide insights into why a particular marketing campaign has not performed well and how it can be improved.

ChatGPT also helps streamline processes, such as onboarding new hires. By providing an accessible, centralized repository of information, ChatGPT can help employees reduce decision-making time and improve accountability. With its visibility into task completion, the technology also encourages remote workers to stay engaged, speeding up workflows.

Improved Workplace Design

ChatGPT is also impacting workplace real estate by influencing design choices. With the rise of virtual communication, businesses are reconsidering the layout of physical workspaces. ChatGPT can help inform these decisions by analyzing employee feedback and identifying patterns in communication and collaboration. This data can be used to design workspaces that are optimized for productivity, improving employee satisfaction, and reducing turnover.

At Telstra, Australia's leading telecommunications company, CEO Vicki Brady identified AI as a key part of the company's 2025 strategy and has already implemented various AI technologies to improve customer service, network security, and software development. This in turn could lead to a need for more versatile and adaptable workspaces that can accommodate different work styles and preferences.

Conclusion

It is important to note that AI technologies are not perfect. Users have stated that AI may occasionally give inaccurate responses or have untrustworthy information sources. But the benefits of using AI-powered technologies to support employee throughput and well-being still outweigh the risks.

As companies navigate a rapidly changing global landscape, technological advancements can play a critical role in ensuring their success. From automating tedious tasks to enabling remote work, artificial intelligence tools like ChatGPT and speech recognition platforms have become vital assets for optimizing workplace efficiency and processes. Ultimately, the success of any business lies in its ability to adapt to ever-changing technologies, and ChatGPT is undoubtedly leading the way.

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Matt Norberg is the associate technical designer at Gensler.

This is how much money you need to live comfortably in Houston, new study finds

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Inflation is high, interest rates are skyrocketing, and honestly, just existing is expensive. Whether it be the price of eggs or a new car, trying to have a financially stable life in one of America’s largest metropolitan areas is becoming more and more difficult.

So, how much money do you need to make to live comfortably in the greater Houston area? Approximately $62,260 a year post-tax, according to a new study by financial tech company SmartAsset.

That’s over an $11,000-plus increase from their previous annual report, where Houston residents only needed to make $51,148 a year post-tax to live comfortably in the area.

Their experts collected data from MIT’s Living Wage Calculator to determine the cost of living for a childless individual in the 25 largest American metro areas. They also used the 50/30/20 budgeting strategy to figure out what a “comfortable lifestyle” meant for the purpose of their study: 50 percent of their income goes to a person’s needs/living expenses, 30 percent to a person’s wants, and 20 percent for their savings or paying down debt.

To live a financially stable life, a childless Houstonian would need to spend $31,130 of their salary on their living expenses, $18,678 for discretionary expenses, and put $12,452 toward their savings or debt payments.

Susannah Snider, SmartAsset’s managing editor of financial education, says in the study that budgeting should be the “bedrock of many people’s financial plans.”

“And it’s especially essential to understand and track your spending when the cost of everyday items is rising,” said Snider. “Being able to stick to a 50/30/20 budget means you have enough to fund short- and long-term goals while paying for essential living expenses.”

To live comfortably in the largest metro areas in the United States, on average, an individual would need to make $68,499 a year after taxes, which is a 20 percent increase from 2022. And, according to the report, salaries aren't rising like inflation.

"While salaries increased 5.1 percent between December 2021 and December 2022, wage growth couldn’t keep up with inflation, which averaged 8 percent in 2022," per SmartAsset.

In other Texas metro areas, like Dallas and San Antonio, a person would need to make $64,742 and $59,270, respectively, a year post-tax.

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This article originally ran on CultureMap.

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