Houston energy company with big perks named among best workplaces for millennials

Young life

Three Houston companies made Fortune's list of best places for millennials. Photo by Katya Horner

When it comes to keeping young professionals happy in the workplace, Houston is doing a bang-up job — some companies more than others. A new report released by Fortune magazine and Great Place to Work finds three Houston companies, and a total of 11 Texas companies, among the top 100 Best Workplaces for Millennials 2018.

Making the national list is Hilcorp Energy Company, an organization known for giving its employees huge bonuses, such as $100,000 in 2015 and $50,000 toward a new car in 2010. The Houston-based company has 93 percent of employees saying their workplace is great, likely because of these aggressive financial incentives, which include a revenue sharing program, a bonus program, "helping hands" community assistance programs, and a generous referral incentive, according to the Fortune piece.

Hilcorp, even with its big perks, isn't actually the top Houston company on the national list. That distinction goes to Houston-based David Weekley Homes. The construction and real estate powerhouse, leads the Texas pack at No. 19. Houston's construction/real estate company Camden Property Trust comes in at No. 94, and manufacturing/production firm Hilcorp appears at No. 95.

More than 434,000 survey respondents from Great Place to Work-Certified companies provided input into this annual list. The study analyzed how millennials rated their organizations on more than 50 different metrics defining great workplaces, such as managers' competence, respect and fairness in the workplace, opportunities for meaningful work, executive leadership, and opportunities to innovate and contribute to the organization's success.

The report also analyzed an index of factors where millennials often lag behind other workers, such as access to meaningful work, fair pay, and plans for a future with their organizations. Companies were evaluated as to whether they were creating great workplaces for all millennials — regardless of who they are or what they do for the organization.

Surveys were anonymous, and companies needed to employ at least 50 millennials to be considered. Employees rated the companies on challenges, atmosphere, rewards, pride, communication, and bosses with a numerical ranking. Here's what made the other Houston companies shine:

David Weekley Homes, where 96 percent of employees say their workplace is great, was lauded for offering an employee's children's scholarship program, product discounts, profit sharing, sabbaticals, and even spiritual assistance.

At Camden, where 92 percent of employees say their workplace is great, employees are given apartment discounts, holiday suites, scholarships, tuition assistance, an aggressive stock purchase plan, and even tickets to hot sporting events.

Elsewhere In Texas, familiar San Antonio insurance/financial service brand USAA (United Services Automobile Association) comes in at No. 40, followed by Dallas professional services firm Ryan, Inc. at No. 44 and Dallas' Prime Lending at No. 58.

Austin is represented by tech firm WP Engine, Inc. at No. 61. Dallas' Encompass Home Health checks in at No. 66, while San Antonio transportation company NuStar Energy L.P. follows at No. 69. Abilene makes an appearance with Funeral Directors Life Insurance Company at No. 92, and rounding out the Texas representation is Arlington's Texas Health Resources, Inc. at No. 96.

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This story originally appeared on CultureMap.

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Houston investor on SaaS investing and cracking product-market fit

Houston innovators podcast episode 230

Aziz Gilani's career in tech dates back to when he'd ride his bike from Clear Lake High School to a local tech organization that was digitizing manuals from mission control. After years working on every side of the equation of software technology, he's in the driver's seat at a local venture capital firm deploying funding into innovative software businesses.

As managing director at Mercury, the firm he's been at since 2008, Gilani looks for promising startups within the software-as-a-service space — everything from cloud computing and data science and beyond.

"Once a year at Mercury, we sit down with our partners and talk about the next investment cycle and the focuses we have for what makes companies stand out," Gilani says on the Houston Innovators Podcast. "The current software investment cycle is very focused on companies that have truly achieved product-market fit and are showing large customer adoption."

An example of this type of company is Houston-based RepeatMD, which raised a $50 million series A round last November. Mercury's Fund V, which closed at an oversubscribed $160 million, contributed to RepeatMD's round.

"While looking at that investment, it really made me re-calibrate a lot of my thoughts in terms what product-market fit meant," Gilani says. "At RepeatMD, we had customers that were so eager for the service that they were literally buying into products while we were still making them."

Gilani says he's focused on finding more of these high-growth companies to add to Mercury's portfolio amidst what, admittedly, has been a tough time for venture capital. But 2024 has been looking better for those fundraising.

"We've some potential for improvement," Gilani says. "But overall, the environment is constrained, interest rates haven't budged, and we've seen some potential for IPO activity."

Gilani shares more insight into his investment thesis, what areas of tech he's been focused on recently, and how Houston has developed as an ecosystem on the podcast.

Houston startup scores $12M grant to support clinical evaluation of cancer-fighting drug

fresh funding

Allterum Therapeutics, a Houston biopharmaceutical company, has been awarded a $12 million product development grant from the Cancer Prevention and Research Institute of Texas (CPRIT).

The funds will support the clinical evaluation of a therapeutic antibody that targets acute lymphoblastic leukemia (ALL), one of the most common childhood cancers.

However, CEO and President Atul Varadhachary, who's also the managing director of Fannin Innovation, tells InnovationMap, “Our mission has grown much beyond ALL.”

The antibody, called 4A10, was invented by Scott Durum PhD and his team at the National Cancer Institute (NCI). Licensed exclusively by Allterum, a company launched by Fannin, 4A10 is a novel immunotherapy that utilizes a patient’s own immune system to locate and kill cancer cells.

Varadhachary explained that while about 80 percent of patients afflicted with ALL have the B-cell version, the other 20 percent suffer from T-cell ALL.

“Because the TLL population is so small, there are really no approved, effective drugs for it. The last drug that was approved was 18 or 19 years ago,” the CEO-scientist said. 4A10 addresses this unmet need, but also goes beyond it.

Because 4A10 targets CD127, also known as the interleukin-7 receptor, it could be useful in the treatment of myriad cancers. In fact, the receptor is expressed not just in hematological cancers like ALL, but also solid tumors like breast, lung, and colorectal cancers. There’s also “robust data,” according to Varadhachary for the antibody’s success against B-cell ALL, as well as many other cancers.

“Now what we're doing in parallel with doing the development for ALL is that we're continuing to do additional preclinical work in these other indications, and then at some point, we will raise a series A financing that will allow us to expand markets into things which are much more commercially attractive,” Varadhachary explains.

Why did they go for the less commercially viable application first? As Varadhachary put it, “The Fannin model is to allow us to go after areas which are major unmet medical needs, even if they are not necessarily as attractive on a commercial basis.”

But betting on a less common malady could have a bigger payoff than the Allterum team originally expected.

Before the new CPRIT grant, Allterum’s funding included a previous seed grant from CPRIT of $3 million. Other funds included an SBIR grant from NCI, as well as another NCI program called NExT, which deals specifically with experimental therapies.

“To get an antibody from research into clinical testing takes about $10 million,” Varadhachary says. “It's an expensive proposition.”

With this, and other nontraditional financing, the company was able to take what Varadhachary called “a huge unmet medical need but a really tiny commercial market” and potentially help combat a raft of other childhood cancers.

“That's our vision. It's not economically hugely attractive, but we think it's important,” says Varadhachary.

Atul Varadhachary is the managing director of Fannin Innovation. Photo via LinkedIn

Houston researcher scores prestigious NSF award for machine learning, power grid tech

grant funding

An associate professor at the University of Houston received the highly competitive National Science Foundation CAREER Award earlier this month for a proposal focused on integrating renewable resources to improve power grids.

The award grants more than $500,000 to Xingpeng Li, assistant professor of electrical and computer engineering and leader of the Renewable Power Grid Lab at UH, to continue his work on developing ways to use machine learning to ensure that power systems can continue to run efficiently when pulling their energy from wind and solar sources, according to a statement from UH. This work has applications in the events of large disturbances to the grid.

Li explains that currently, power grids run off of converted, stored kinetic energy during grid disturbances.

"For example, when the grid experiences sudden large generation losses or increased electrical loads, the stored kinetic energy immediately converted to electrical energy and addressed the temporary shortfall in generation,” Li said in a statement. “However, as the proportion of wind and solar power increases in the grid, we want to maximize their use since their marginal costs are zero and they provide clean energy. Since we reduce the use of those traditional generators, we also reduce the power system inertia (or stored kinetic energy) substantially.”

Li plans to use machine learning to create more streamlined models that can be implemented into day-ahead scheduling applications that grid operators currently use.

“With the proposed new modeling and computational approaches, we can better manage grids and ensure it can supply continuous quality power to all the consumers," he said.

In addition to supporting Li's research and model creations, the funds will also go toward Li and his team's creation of a free, open-source tool for students from kindergarten up through their graduate studies. They are also developing an “Applied Machine Learning in Power Systems” course. Li says the course will help meet workforce needs.

The CAREER Award recognizes early-career faculty members who “have the potential to serve as academic role models in research and education and to lead advances in the mission of their department or organization,” according to the NSF. It's given to about 500 researchers each year.

Earlier this year, Rice assistant professor Amanda Marciel was also

granted an NSF CAREER Award to continue her research in designing branch elastomers that return to their original shape after being stretched. The research has applications in stretchable electronics and biomimetic tissues.