UH's business school has been recognized for innovation and entrepreneurship. Photo via bauerticker.uh.edu

Hitting headlines this month are innovation news stories from sustainability and education to funding and startup competitions.

In this innovation news roundup, two health-focused startups raise money, the University of Houston earns two pats on the back, a Houston-based former WeWork exec joined the C-suite of a sustainable clothing company, and more.

BrainCheck closes $8 million seed round

BrainCheck has received funding to grow its cognitive assessment platform. Photo via braincheck.com

Houston-based BrainCheck, a cognitive health tech platform closed its $8 million series A funding round. Austin-based S3 Ventures and Chicago-based Tensility Venture Partners co-led the round, and Austin-based True Wealth Ventures and Kansas-based Nueterra Capital also contributed to the round.

BrainCheck's digital platform allows physicians to better assess cognitive function in their patients. The new funds will be used for research and development, including customizing the platform's algorithm for an enhanced patient experience, according to a news release.

"Cognitive healthcare should be an end-to-end solution where problems can be assessed early, and results shared between patients and physicians," says Dr. Yael Katz, co-founder and CEO of BrainCheck, in the release. "By analyzing multiple forms of data, BrainCheck helps physicians create and fine tune personalized interventions. This not only improves outcomes for current patients, but is invaluable to developing management and treatment strategies for future generations."

Former WeWork exec Emily Keeton joins C-suite of a sustainable clothing startup

Goodfair has created a digital thrifting platform. Photo via goodfair.com

After a little over two years at WeWork in leadership positions, Emily Keeton has left the coworking space company to join a Houston startup. Keeton, who was among the founders of Station Houston, is now the chief operating officer at Goodfair, a direct-to-consumer thrift platform based in Houston.

"The rise of fast fashion is contributing to major environmental change," she tells InnovationMap. "Right now, the average American buys 68 new garments a year and wears each one only 7 times. Clothing production is responsible for over 20 percent of all industrial water pollution."

Keeton says she was connected with Goodfair's CEO, Topper Luciani, through the company's lead investor, Paul Bricault of California-based Amplify. Luciani just moved to Houston, and the company also has a warehouse here.

Goodfair sells bundles of "pre-loved" clothes based on size and category at a low price point.

"You know you'll get a medium flannel shirt, but you don't know exactly what color. If you don't like it, you can get a new order for the cost of shipping only," Keeton says. "We have created an entirely new model for this industry, which is an over $14 billion market."

NurseDash raises bridge round as the startup braces for growth

Houston-based NurseDash is the Uber of staffing nursing shifts in medical facilities. Photo via nursedash.com

A growing Houston startup has received bridge funding ahead of opening a larger round. NurseDash, a digital staffing tool for nurses and medical facilities, has received $500,000 from East Coast-based SEI Ventures.

The corporate-backed fund has contributed greatly to higher education institutions, like Capella University, which has a large nursing program.

"Some of the ways we think we can help NurseDash accelerate their growth is getting getting word out to Capella's tens of thousands of alumni and hundreds of employer partners to make sure they are aware of the advantages of the platform, and potentially organizing an educational partnership as well," Taylor Chapman, Houston native and principal at SEI Ventures, tells InnovationMap.

NurseDash, which launched in 2017, now has a presence in 80 facilities on the platform and over 1,000 clinician users in Houston, Austin, and Northeast Ohio.

"We are excited to have SEI join us as a strategic investor and the opportunity that it brings for us to provide enhanced educational opportunities to our clinicians as well as greater exposure the wonderfully talented group that comprises the alumni and nursing students of Cappella University," says CEO and Co-founder Jake Kohl in an email.

University of Houston programs receive recognition

The University of Houston's business school has been recognized for two of its programs. Photo courtesy of University of Houston

The University of Houston's business school has two more feathers to add to its cap.

Bloomberg BusinessWeek named the MBA program at the C. T. Bauer College of Business as among the world's best programs for entrepreneurs. The program tied for ninth in the B- category out of 126 programs surveyed.

"Bauer students indeed reflect the values of our beloved Houston," Professional Programs Associate Dean Leiser Silva says in a news release. "Like our city, they have grit, they are resilient, and they are the bearers of an unparalleled ingenuity. It is in their character to assume calculated risks and be entrepreneurs."

Meanwhile, Bauer's Stimulating Urban Renewal through Entrepreneurship received the 2019 Award of Excellence for Innovation + Talent at the recent University Economic Development Association annual summit. The program creates a partnership between UH students and local entrepreneurs and area business leaders.

"At the heart of the program is experiential learning for our students, along with a commitment to service and civic engagement," says SURE™ founder and director Saleha Khumawala, in a news release.

Capital Factory seeks Texas companies for artificial intelligence challenge

blockchain

Capital Factory is looking for AI companies to compete for $100,000. Getty Images

Austin-based Capital Factory, which has a statewide presence, is looking for startups with artificial intelligence technologies.

The $100,000 Artificial Intelligence Challenge is asking companies to submit their solutions to four key challenges decided by the Army Artificial Intelligence Task Force. The four challenges are: Intelligence support for long-range precision, automated threat recognition for the next-generation combat vehicle, human resources and talent management, and predictive maintenance for military assets.

The competition will conclude on November 12th, at Capital Factory's Defense Innovation Summit. Five technology finalists will be judged by a panel, and one will receive a $100,000 investment that day. The deadline to apply online is October 21.

Work & Mother announces new location

Houston-based Work & Mother is rethinking how new mothers pump in the office. Courtesy of Work & Mother

Houston startup Work & Mother, which runs lactation centers for new moms returning to work, has another location opening. Brookfield Properties announced that Work & Mother has signed a lease for a 949-square-foot space at Three Allen Center at 333 Clay St. in downtown Houston with an expectation top open next summer.

"We are thrilled to partner with Brookfield Properties on this project. We've found that companies aren't equipped to fully address such a private and intimate issue as pumping breast milk in the office," says Abbey Donnell, founder and CEO, in a news release. "It doesn't make sense for every company in a large office tower to take this on individually. Work & Mother is a better economic option for companies in that they reduce their legal risks and create a better working environment, preserving their own office space for their core business."

From startup competitions to thought-provoking talks, here's where you need to be in August. Getty Images

10+ can't-miss Houston business and innovation events for August

Where to be

If you subscribe to the idea that your net worth is your network, then here's your guide to networking this month in Houston's innovation ecosystem. August has meetups, pitch nights, and networking aplenty.

If you know of innovation-focused events for this month or next, email me at natalie@innovationmap.com with the details and subscribe to our daily newsletter that sends fresh stories straight to your inboxes every morning.

August 1 — Sixth Annual Bayou City Startup Showcase

Rice University's OwlSpark and University of Houston's RED Labs are coming together again for a startup pitch and showcase — this time in The Cannon's new building.

Details: The event is from 3 to 5:30 pm on Thursday, August 1, at The Cannon/Bayou City Fellowship (1400 Brittmoore Road). Learn more.

August 6 — Houston Unfiltered with Jeff Garoon, COO of FlowCommand

Station Houston has rebooted its Open Coffee series to Houston Unfiltered. Each month has a new speaker, and in August, startups can hear from Jeff Garoon, COO of FlowCommand.

Details: The event is from 8 to 9 am on Tuesday, August 6, at Station Houston (1301 Fannin Street, #2440). Learn more.

August 6 — Managing Your Sales Function 

Capital Factory's next Houston Founder's Academy installation is focused on sales.

Details: The event is from noon to 2 pm on Tuesday, August 6, at The Cannon (1336 Brittmoore Road). Learn more.

August 7 — Deep 6 AI: Advancing Clinical Research @ TMC

Imagine knowing every patient you want to recruit on day 1 of your trial. Doug Cassidy, vice president of Clinical and Academic Research at Deep 6 AI, explains how Deep 6 AI can help you find more better matching patients for trials in minutes, not months.

Details: The event is from 4:30 to 5:30 pm on Wednesday, August 7, at Third Coast Restaurant (6550 Bertner Avenue, 6th Floor). Learn more.

August 8 — Summer Salon: Broadband Internet Access & Digital Inclusion

The Center for Houston's Future is hosting a fireside chat to focus on all things digital.

Details: The event is from 6:30 to 8:30 pm on Thursday, August 8, at the Omni Houston Hotel (4 Riverway). Learn more.

August 13 — Entrepreneurship Burn-out: The Power of Nutrition Psychology

Entrepreneurs are creative, highly driven, and high-performing individuals. But in the pursuit of success, entrepreneurs often neglect their health. Our guest speaker will share practical tips/advice for entrepreneurs to prioritize nutrition to prevent burnout and/or help in the recovery process.

Details: The event is from 5:30 to 7:30 pm on Tuesday, August 13, at Impact Hub Houston #PopHUB @HX (410 Pierce Street). Learn more.

August 15 — SPE Talk: The Energy Dot

This inaugural digital innovation event will combine oil and gas, academia, and Silicon Valley innovation with multiple tracks of engaging programming.

Details: The event is from 8 am to 5 pm on Thursday, August 15, at Midtown Arts and Theatre Center (3400 Main Street). Learn more.

August 17 — Enventure Basecamp - Business Building Workshop

Basecamp is an inclusive environment for those who are interested in adapting their life science experiences to real business applications. All are welcome, and the event is free.

Details: The event is from 9 am to noon on Saturday, August 17, at the TMC Innovation Institute (2450 Holcombe Blvd). Learn more.

August 17 — re:3D's sixth birthday, discount print day, and design contest

re:3D is turning six, but the party is actually for you. Discount printing, plus a contest with $100 credit on the line.

Details: The event is from 10 am to 2 pm on Saturday, August 17, at re:3D Houston HQ (1100 Hercules Ave, STE 220). Learn more.

August 22 — TMCxAlpha: August meeting with Ashok Gowda

TMC alpha provides a pathway for any innovator affiliated with a TMC member institution to find support for the development and commercialization of their idea or product. Lunch and parking validation will be available.

Details: The event is from noon to 1 pm on Thursday, August 22, at the TMC Innovation Institute (2450 Holcombe Blvd). Learn more.

August 22 — Federal Funding 101 Introduction to the SBIR

This program is purpose-made to provide seed money of up to $1.5M to small businesses to enable them to break into the market. Following the workshop, Inspiralia experts will be available for one-on-one technology validation meetings.

Details: The event is from from 3 to 7 pm on Thursday, August 22, at the CUBIO Innovation Center (7707 Fannin St., Ste 200). Learn more.

August 28 — Enventure Biodesign Workshops

Biodesign workshops is a free course designed to provide new entrepreneurs with an understanding of the innovation process, teaching them how to evaluate a life science technology as the basis for starting a new business. Whether you're an engineer, scientist, physician, or business expert, this class will bring you up to speed on the medical innovation process.

Details: The event is from 6 to 8 pm on Wednesday, August 28, at the TMC Innovation Institute (2450 Holcombe Blvd). Learn more.

​August 29 — The Greenlight Guru True Quality Roadshow

Enjoy specially selected drinks, hors d'oeuvres, and intimate networking with medical device professionals. Finish the night hearing from leaders in the industry.

Details: The event is from 4:30 to 6:30 pm on Thursday, August 28, at the JLABS @ TMC (2450 Holcombe Blvd). Learn more.

Lazarus 3D is using 3D printing to help advance surgeons' skills. Photo via laz3d.com

Houston company is using 3D printing to enhance surgeon training and prevent avoidable patient deaths

Practice makes perfect

It is no surprise that, when a company offered life-like bladders for medical training, Houston urologists jumped at the opportunity — many had to learn the surgery by operating on bell peppers.

This sort of produce practice is the traditional method for teaching surgeons. Before a doctor ever makes an incision on a living person, they'll practice surgery on food — slicing bananas open and sewing grapes back together.

But for a pair of Baylor College of Medicine-educated doctors, that didn't seem like sufficient prep for working with living bodies; fruit surgery was not fruitful enough. In 2014, Drs. Jacques Zaneveld and Smriti Agrawal Zaneveld founded Lazarus3D to build a better training model — and layer by layer, they created models of abs and ribs and even hearts with a 3D printer.

"We adapted pre-existing 3D printing technology in a novel proprietary way that allows us to, overnight, build soft, silicone or hydrogel models of human anatomy," says Jacques, who serves as CEO. "They can be treated just like real tissue."

This isn't 3D printing's foray in medicine. In 1999, doctors in North Carolina implanted the first 3D-printed bladder in human bodies — they covered the synthetic organs in the patients' cells so that their bodies accepted them. Since, researchers have continued to find uses for the technology in the field, printing other organs and making prosthetic limbs.

But the Lazarus3D founders felt like medical training was lagging behind. Even cadavers, which medical schools also use to prepare doctors for surgery, don't represent a healthy human body or the diseased state of a hospital patient, said Smriti, who works as the research director.

The pair turned their kitchen into a printing lab and set to work, creating life-like models of human organs. They didn't have to go far after their first successes to find potential buyers — they just went to Starbucks. In a coffeeshop in the heart of the Medical Center, they talked loudly about their product until the neighborhood doctors and researchers took interest and gathered around.

Over the next few years, the Lazarus3D team pooled resources and contacts and, a summer after opening, they moved out of their kitchen and into an office. They now are a Capital Factory portfolio company and have partnerships with Texas Children's, Baylor College of Medicine, MD Anderson Cancer Center, and others, providing organs for specialized training — and the more they expand, the more they're able to prepare doctors for invasive, sometimes dangerous procedures.

"There are over 400,000 deaths annually in the U.S. due to medical error," Smriti says. "Not all of them are due to surgical mistakes, but all of these, nonetheless, were preventable."

The models can also be used for explaining to patients in a visual way what surgeries they're about to receive — the black and grey smears on an MRI scan might not actually help a patient understand much about what a surgeon is going to do to their body. In 2018, Lazarus3D won a contest with NASA on the potential for 3D printing organs in space, so that major surgeries might be performed there. And the printed organs can also be used by researchers to safely develop new surgery methods.

This year, the company grew to seven people and aims to expand even more to add to its sales and manufacturing teams. Having been funded mostly by friends and family investors, Lazarus3D plans enter its first equity round this year. They're raising $6 million.

"Every generation in medicine, people look back at what was done before and think 'Man, that was barbaric,'" Jacques said. "Fifty years from now, we're going to look back and think, 'Man, back then we used to just give someone a patient to learn how to do physical skills on? That seems crazy.'"

The Cannon's new building is 88 percent leased and ready for move in. Courtesy of The Cannon

Photos: The Cannon unveils its 120,000-square-foot startup hub in West Houston

Homecoming

The Cannon is finally getting to move its 150 startups and partners into its 120,000-square-foot campus in West Houston.

The original plan was to open in March, but construction, which began in April 2018, faced a series of setbacks due to weather. Current grand opening celebration plans are expected to be in September.

The flagship building is just the first step developing the campus, which is dubbed the Founders District.

"Our team has worked tirelessly to build this community over the past eighteen months, and we are incredibly proud to see our vision coming to life with the completion of this building," says The Cannon's CEO Lawson Gow in a news release. "The work isn't over though, and The Cannon will continue to grow our network of resources and locations to cater to the needs of Houston's growing entrepreneurial community." (Gow is the son of David Gow, owner of InnovationMap's parent company Gow Media.)

The building is currently 88 percent leased. Cannon Ventures, the company's investor group, will operate out of the new building, as will Capital Factory's Houston outpost. Austin-based Capital Factory, a statewide startup accelerator announced it would have its Houston operations at The Cannon in May. Since then, the company hired two Houston-based employees to run the programming.

According to the release, The Cannon will continue to grow its community relations for a "full suite" of partners. Houston-based investment fund Work America Capital, which led The Cannon's initial fundraising round, will also be joining The Cannon's community in the new building.

"It has been incredible to watch The Cannon's exceptional growth from inception two years ago to the vibrant community they've built today," says Mark Toon, managing partner of Work America Capital, in the release. "We can't wait to see the progress first-hand as The Cannon continues to establish themselves as a leader in building entrepreneurial communities."

The Cannon previously operated out of a 20,000-square-foot adjacent building called "The Waiting Room," which will be torn down and the space will be used as a part of the bigger Founders District plan.

The Cannon's new space will feature:

  • A 16-TV video wall
  • Outdoor courtyard
  • Movie theater
  • Snacks, coffee, and beer
  • Office needs, such as printers, scanners, and mail services
  • Showers
  • 24/7 accessibility
  • Professional and social events are organized on an ongoing basis for the community
  • Private event hosting for both members and non-members

Spacious setting

Courtesy of The Cannon

The Cannon is currently 88 percent leased.

Capital Factory will have a branded area in The Cannon when it opens its new facility. Courtesy of The Cannon

Capital Factory hires two Houston-based employees to grow its local presence

Onboarding

A major Texas innovation player with roots in Austin has now staffed its recently announced Houston outpost in partnership with The Cannon Houston. Capital Factory hired two Houstonians to help provide resources for its growing Houston-based portfolio companies.

Kendrick Alridge has been hired as mentor coordinator, and Brittany Barreto, who founded Pheramor and WeHaveChemistry, has been named the venture associate. Aldridge will focus on growing and cultivating relationships with Houston mentors, and Barreto is dedicated to reaching out to Houston startups to gauge their potential for Capital Factory participation.

Hiring these Houstonians and having these new boots on the ground is a key factor for Capital Factory as it grows its Houston presence, says Gordon Daugherty, president at Capital Factory.

"It's important for us to think Texas, but act local," Daugherty says. "What that means is we can't just assume that the way we do things and the things that made us successful in Austin will directly translate to Houston. Houston is a different market. That's one of the things we learned from Dallas."

Acting locally entails listening and learning to what the community wants and engaging with local organizations to contribute value to the market.

"We don't know how or in which ways, but we know Houston will be different from Dallas and Austin," Daugherty says. "In this way, we are advantaged by our two employees being from the Houston area. They're our eyes and ears, for one, but they are also the voice of Houston to us along with other ecosystem players."

While local resources and personnel are both new for Capital Factory, the organization already has over 20 portfolio companies that are based in the Houston area. Now, these companies will have new resources close to home and can also act as Capital Factory representatives in the community, Daugherty says.

One of the biggest benefits Capital Factory is bringing into town is investment opportunities. Daugherty says that he predicts that Capital Factory, which tends to invest many small-sum deals, will quickly become the most active early stage investor in Houston. The organization has already made a few investments in Houston companies — and this isn't even counting the dollars invested by the investment partners.

"Our mission, as it pertains to Houston, is to help the best Houston startups get funded. We will tap into our network of investors across the state and country to try to find the best matches."

If Houston can take any indication from Capital Factory's Dallas location, which opened earlier this year, Capital Factory will be making a big impact on Houston startups.

"In 2018, 25 percent of the startups we onboarded into the accelerator were from outside of Austin," Daugherty tells InnovationMap. "The first half of this year, a third or more have come from Dallas alone. And I expect the same from Houston. Next year, easily more than half of our new accelerator companies will be outside of Austin."

Capital Factory will have branded space in The Cannon when it opens its new facility later this month.

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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

microscope

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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."