Here's how COVID-19 has affected Houston startups — and what they need to know moving forward

guest column

Houston's startups and small businesses have a ways to go to truly survive the pandemic, and they should move forward with these things in mind. Emilija Manevska/Getty Images

The effect of COVID-19 on Houston's economy has been unprecedented. While evidence on this impact is only beginning to emerge, it is clear that the economic damage has been particularly severe for startups and small and growing businesses in emerging markets.

Given the importance of startups and small businesses to economic growth and job creation, the survival of these businesses must be a critical part of the global recovery. For example, there are many companies that have seen this pandemic as an opportunity and started providing COVID-19-related services.

Startups are facing financial challenges on multiple fronts

According to a study from Houston Exponential's:

  • Thirty percent of startups reported a loss of revenue due to client uncertainty or delayed contracts. With almost 85 percent of startups identifying as B2B or B2C, many companies are seeing previously guaranteed revenues shrink as enterprise clients cut costs.
  • Twenty-one percent of startups reported paying talent as their biggest talent/hiring challenge. The main concern isn't with finding qualified candidates, it's being able to pay for them. Founders stated that the talent exists, but they can't afford them, or candidates aren't willing to accept a lower salary for equity.
  • Nineteen percent of startups reported a 10 to 20 percent decrease in fundraising valuations. This statistic only includes startups that were raising before and during COVID-19. And 71 percent reported no change in valuations.
  • Fourteen percent of startups reported moving to remote work as their biggest operational challenge. This includes both internal challenges as well as working with clients and prospective customers remotely.

How startups have been using funding amid COVID-19

Post $1 million in funding, the hiring focus shifts to product development.

  • Companies that have raised less than $1 million are looking to drive growth, find sources of revenue and improve their top-line metrics through biz dev, marketing, and sales.
  • Companies that have raised more than $1 million are focusing more on building out and improving their product by hiring engineers and product managers

Note: The median seed round for Houston startups over the past 3 years was $1.9 million and the median angel deal was $610,000, according to Pitchbook.

Tips for surviving the pandemic

The Small Business Continuity Checklist is a diagnostic tool to navigate times of disruption, covering two key areas of management — financial and strategic.

Financial Management Tasks

  • Address future cash shortages, for example, what expenses could be reduced, such as travel and marketing, which operations can be temporarily paused.
  • Consider steps to increase cash coming into the business such as focusing more on product lines/ services that continue to sell well.
  • Explore what grants, subsidies, or loans are available and the eligibility requirements. For example, The Cannon's CERT Program. Here's a list of resources for Houston startups and SMBs.
  • Recycle, re-purpose, or dispose of old or slow-moving stock or inventory. Explore the possibility of sales under special conditions, in order to reduce the projected losses on inventories. Review purchasing policies to prevent overspending on stock/inventory.

Strategic Management Tasks

  • Since user retention is crucial for your future growth, you can provide free subscriptions, contactless delivery, and waive fees to address a larger user base and enhance customer experience. For example, many online learning sites are providing free access to their live and video classes. Similarly, in the healthcare and fitness space, companies can provide for free virtual classes and shift to providing online consultations. Cure.Fit, fitness startup has provided free access to their live classes for 90 days. All hyperlocal delivery companies have rolled out 'contactless delivery' to minimize any contact between the customer and the delivery executive. They have also urged customers to adopt 'digital payments' to again minimize any human contact.
  • Nowadays, most startups and SMBs rely on different kinds of software, web apps, and/or mobile apps. Furthermore, many businesses are dependent on such digital platforms. If you are developing any digital solution then you should consider outsourcing some part of development/design work to app development in Houston to reduce the cost. You can find more local options from sites like Clutch or Upcity.
  • Ensure productivity while working remotely. While fostering collaboration has long been a defined way of working in most modern businesses, proximity is a variable that has always been taken for granted. Don't just limit to video conferencing, also invest in project management tools, time tracking tools, communication tools etc.
  • Build trust, support staff, and understand emotional concerns and the importance of personal well being.

Startups are the engines of progress. Small businesses are the backbone of America. Stay safe. Stay healthy. And keep persevering. No matter how severe and disruptive this crisis is, one thing is for sure, the war on this pandemic will be won.

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Colin Simpson is project manager at BlueKite Apps, which recently started its software development services in Houston.
The journey from ideation to creation, and then manufacturing can be difficult, but rewarding. Photo courtesy of OKGlobal

These are the risks and rewards of prototyping, according to Houston expert

Guest column

We live in a digital world. Music, movies, and even family photos have become primarily digital. Computer software offers us a range of comfort and efficiency and has become part of our daily routine. So, why would anyone want to build a career around physical product development?

Simple, almost every software product or next big thing relies on a well-executed physical product development project. Apps need a place to run, games need a console to be played, and pictures need a camera to be taken.

Physical product development means dreaming of something that does not yet exist and solves an existing problem. It means taking an intangible idea and making it into a physical item that people can see, touch, and use.

The journey from ideation to creation, and then manufacturing can be difficult, but rewarding. By understanding the process, you'll find that not only is your inspiration worth pursuing, but it may be one of the most fulfilling things you will ever do.

From inspiration to perspiration

Every product development project begins with a vision, the identification of a problem and a solution for that problem. That initial spark of inspiration is what drives the entire project.

Look for a problem that hasn't been solved and solve that problem, or try the reverse. Think of a product idea, and then work backwards to find the need. Regardless, one cannot be successful without the other.

Projects require this problem, or need, because it embodies the product's target market. A product idea without a well-defined need has no reason to exist, and if it did, it would be downright perplexing.

Once you identify your need and idea, start your research.

Test the validity of your idea. How much of a market exists for your problem-solving miracle? Send out surveys, look at various markets, conduct data analyses, and generally, do everything in your power to ensure that your product should be made.

Then, start making something.

From concept to reality

The design, prototype and manufacturing stages are what bring your inspiration closer to reality. Turning it into a concrete product means letting go, and that can be scary.

Initial concept designs can be done in a variety of different ways. Detailed sketches and blueprints could be drawn up, or CAD drawings can be created. This concept design can help you explain your idea to others, including partners and investors. What works even better, though, are prototypes.

A prototype is a preliminary model of your product that can help you determine the feasibility of different aspects of your design. You can make a functional prototype, which acts as a proof-of-concept for your idea, or you may create aesthetic prototypes that will test the look and feel of your product.

Once you nail down the ideal appearance and physicality of your product, you will need to combine the two disciplines as seamlessly as possible. This performance prototype will effectively demo your final product.

Finally, you can prepare your product for production. Designing for manufacturability (DFM) means ensuring that your product can be made efficiently and cost-effectively. DFM allows you to mistake-proof your product by choosing the best manufacturing materials and methods, while keeping in mind the appropriate regulations for your desired market.

From nothing into something

The product development process often changes. Trends like crowdsourcing and innovative fast-to-market solutions constantly upend the process and make it new again. Some automakers, for example, want to innovate the design process using existing customer data — similar to how companies like Microsoft and Apple create iterative versions of their software product development projects.

Getting your product to market can be tough, but certain approaches can ease the burden. Create a simpler product. Fail fast and fail cheap with lean development, meaning limit your risk to maximize your return. Also, never underestimate the importance of customer feedback and intellectual property protection throughout the process.

With that said, invest in yourself and your inspiration, and you will avoid that nagging what if-mentality that drives regret. Great reward always requires risk, but there are also ways to invest smarter. Use available resources and give your dream the best chance for success.

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Onega Ulanova is the founder of OKGlobal.
It's important to craft an informative and considerate message when sharing news of a COVID-19 exposure. Getty Images

4 COVID-19 messaging tips from Houston communications expert

guest column

Houston is undoubtedly hitting critical mass with COVID-19. The common sentiment has transitioned from "knowing someone who knows someone that has COVID-19" to more frequent first-hand, anecdotal experiences. When a potential exposure happens in the workplace it's vital that employees and companies alike quickly, professionally, and responsibly inform any parties that could have been indirectly exposed including vendors, clients, or meeting participants of any kind.

We understand as communication experts, informing a client, boss, or anyone that you've potentially exposed them is scary messaging to share. Guilt is the number one emotion people report experiencing when they realize they've potentially exposed someone or a group of people, even though the respective exposure was inadvertent. Nevertheless it's crucial to communicate the exposure quickly and effectively as that's how Houston can hinder the spread of this disease through our city.

So, how have we been counseling our clients as these potential exposures arise? Here are some notes and even an email template that Houstonians can use to help get them started.

Respond quickly

This is not a time to wait for certainty. Do not wait for tangible test results or any type of certitude (such as you experiencing symptoms first-hand) before notifying a person or company that you've potentially exposed them. Remember: you aren't telling someone you gave them COVID-19, you are simply telling them that you have been exposed and therefore inadvertently exposed them.

Be honest and forthcoming with information

This is not a time to offload or dwell on your feelings of guilt, albeit that's a natural emotion. A simple apology for the situation you collectively find yourself is appropriate but a deep into your own feelings and context for the situation is neither necessary nor helpful. Remember, during times of crisis, people don't remember what you said, but that you said something at all when it would have been easier not to and that you're someone of high morals and character.

Be detailed, but not too detailed

Again, you want to share concrete information versus your own personal emotions and feelings surrounding the incident. Pertinent information includes the following;

  • When and where you were exposed
  • When and where you exposed others
  • If you're currently experiencing any COVID-19 symptoms
  • Pertinent test results (if any) in regards to how you were exposed

Work from a template

Salutation:


It has come to my attention on date that I was exposed to COVID-19 through home, work, office, etc.

Because of this, it's a possibility that I unknowingly exposed you at date and place of interaction.

Though I am not currently not experiencing any symptoms and feel healthy, I wanted to let you know about this and err on the side of caution.*OR*I currently am experiencing symptoms of Covid-19 including X,Y, Z. I plan to get tested and can let you know the results when I receive them.

I apologize for this situation and am here to answer any further questions that might help you determine how to proceed accordingly.

Sincerely,
Name

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Megan Silianoff is the founder and creative director of Mad Meg Creative Services, a Houston-based firm specializing in public relations, social media management, web design, and branding.
Abbey Donnell, founder and CEO of Work & Mother, shares how the pandemic's return-to-work policies are affecting new moms. Courtesy of Work & Mother

Houston founder: COVID-19 return-to-work plans failing to consider breastfeeding moms

Guest column

Consensus seems to indicate that working from home has proven more effective than previously believed, though most would also agree that there is still a need for an office outside the home.

By now, I've received about a million different emails with guides on how to reopen businesses safely amidst COVID-19: how to protect employees, social distancing in the workplace, the future of office space and the effects on commercial real estate…the list goes on and on.

The majority of these guidelines include some version of:

Employers should discontinue use of common spaces such as lunchrooms, breakrooms, meeting rooms and other gathering spaces to avoid unnecessary person-to-person exposure.

This is surely wise. After all, the place with the most germs in the office is usually the faucet of the break room sink.

However, what these recommendations have all failed to consider, what not a single one has even mentioned, is the mother's room.

The majority of mother's rooms, unfortunately, double as some sort of communal wellness or other multi-purpose room. This should not be the case even during non-pandemic times, for a variety of reasons, which you can read about here. But now with COVID-19, for obvious reasons they should not be one and the same. There is a real issue at hand — one with long lasting repercussions for not only working mothers, but their employers too.

The majority of in-office mother's rooms do not have a sink. Therefore, women are forced to carry their used pump parts to the break room or bathroom sink, exposing themselves not only to scrutiny and often even harassment, but also to germs. So, what happens if this common area break room, this already subpar solution, is closed? What do mothers do then?

What about the cleaning and sanitizing of the room? What about room usagee schedules to ensure proper distancing and cleaning between each use? What about including not only hand sanitizer and surface disinfectant wipes, but also the proper pump part cleaning and sanitizing supplies?

What if the mother's room itself is closed, as that too is considered a "communal space?" (Though let us not forget that there are federal and state requirements for the majority of employers to provide a mother's room.)

Fortunately, many offices are implementing more flexible work policies, allowing many to work from home. But, I worry that this "option" will end up becoming a forced "solution" for working mothers. Oh, you're pumping? Just stay home.

On the one hand, great! If you're lucky enough to have in-home childcare, you will actually be able to take breaks and breastfeed your baby. Win! Even if your little one is in daycare, you can at least pump in the privacy of your own home. Win!

However, here's the problem: This approach may actually hurt women's careers and exacerbate the already brutal motherhood penalty. When an employee works completely remotely, particularly if their job isn't intended to be fully remote, or the rest of their team isn't remote, there are serious side effects:

Passed up for promotions and projects
Sometimes this occurs intentionally: "Oh, she shouldn't work on this because it requires in-office time so we'll assign it to someone else." Sometimes it's unintional — simply, out of sight out of mind. If some members of the team are in the office and others aren't, those who are not there often miss casual conversations or spur of the moment brainstorming sessions that leave them behind and in the dark.

Cessation of learning
When cut off from the rest of the team, it's hard to be exposed to learning opportunities. As soon as the learning and growing stops, the dissatisfaction, restlessness, and turnover begins.

Loss of fidelity
Without contact with the rest of the team or organization, we often lose the connection to our cause. We could be working for anyone. Loyalty suffers when there isn't a meaningful connection.

Loss of leadership
Most experts agree that 70 to 93 percent of all communication is nonverbal. Leadership and culture is often most effectively conveyed via modeling behavior. How do you grow your next generation of leaders if they can't see leadership behavior for themselves?

The turnover rate for new mothers is already high — 43 percent — despite the fact that over 75 percent of women want to remain in the workforce to remain in the workforce after becoming mothers, according to an April 2013 article in The Atlantic. This should signal to all employers that they are failing at providing the proper facilities and support for new mothers returning to work. So, what happens when we close the already lacking mother's resources?

This isn't just a women's issue. It's a business issue. Replacing an experienced employee who leaves after childbirth can cost anywhere from 20 to 213 percent of the employee's annual salary. Companies with at least 30 percent management positions held by women tend to be 15 percent more profitable than those without.

Companies such as Goldman Sachs have taken note. They now require at least one woman on the boards of their companies before they can go public. Therefore, employers need to ensure that they can keep top female talent beyond childbearing years. It's worth nothing that according to the CDC, birthrates in the US are declining for all age brackets with the exception of slight gains for women in their 30s and 40s. Meaning, women are waiting longer, until they're more established in their careers, to begin having children. Translation to employers: a more valuable employee you're at risk to lose.

Now, let me be clear about something: I am NOT advocating for a full return to the office for strict, structured working hours. Nor am I saying that women need to run right back to the office right after delivery. Quite the contrary. In fact, I am a firm believer in better parental leave policies and general workplace flexibility with the option of working remotely.

I believe flexibility is actually the very key to leveling the playing field for working mothers. However, to assume that the mother's room is no longer necessary because moms can just stay home, is discrimination, plain and simple. It's the same assumption that's been setting women back for years. "Oh, she probably wants to have kids soon, so she won't want this promotion that will require travel." Or, "oh she's probably just going to get pregnant and quit so I'm not going to hire her."

If a mom chooses to work from home but needs to come in for a meeting, for example, there still needs to be a safe, appropriate facility for her. At a minimum, organizations must create a protocol for this. It is not the mother's job to advocate for this. It is the employer's responsibility to proactively provide for it. This should be an active conversation with landlords.

If mother's needs are not part of this vital return to work safety conversation, women may be left behind. So let's start the conversation.

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Abbey Donnell is a lactation counselor and the founder and CEO of Work & Mother.
Statistical Vision shares key data points it's watching as companies return to work amid the COVID-19 outbreak. Getty Images

Houston data startup analyzes COVID-19 risks as companies return to work

Guest column

In an effort to better help our clients, and frankly all of us, maneuver these uncertain times and to better understand what the upcoming months are likely to bring, we have applied our data science expertise to create a structural model of the spread of COVID-19. The aim of the national model is to determine specifically how mobility and weather impact the local transmission rates while controlling for population density, population immunity rate and the fact that people are taking more precautions.

When I discuss COVID19 with other Houstonians, I'm often asked "We're going back to work — there's traffic! Why haven't cases spiked?"

First, it is worth noting that cases and deaths have increased again in Harris County. But, the question is still valid. Greg Abbott started allowing things to open six weeks ago and we are only starting to see a rise now.

Fortunately, our model (being quantitative and multivariate) can explain why cases may not have 'spiked' the way that was expected. There are four main reasons why cases are only starting to tick up now:

  1. There has not been a 'spike' in people leaving their homes. While Greg Abbott did allow restaurants, movie theaters and malls to begin re-opening on April 30, there was not a sudden spike in people leaving their homes. Indeed, the "people staying home" index, according to Google Mobility Data, peaked on April 1 at 22 percent above normal and has gradually decreased ever since. In Harris County, the extent people are staying at home stands at 14 percent above normal as of May 29 (unfortunately, Google Mobility Data reports 7 to 10 days after the fact.) So, from the peak 'stay at home' measure, we were only a third the way back to normal last week.
  2. Temperatures have increased. Our model indicates that warmer temperatures decrease the transmission rate of COVID19. Our model does not posit a mechanism, but we can rule out both geographic explanations and behavioral explanations, which leaves us with the compelling reason to believe that temperatures matter.
  3. People's behaviors when they do go out have changed. These changes — everything from masks, to skipping hand shakes, to readily available hand sanitizer, to keeping your distance, to staying home when you're feeling sick — have an important and measurable impact on the spread.
  4. Kids are not back in school yet. While our model does not directly measure the impact of kids being in school, the estimate our model produces measuring the importance of staying at home (2.6) is higher than they should be (2, mathematically speaking). We suspect that's because we are missing an important cohort that started staying at home at the same time mobile phone users started staying at home - kids that don't have cell phones. So, while it may seem like we are most of the way back to normal, with regards to going out, being summer time in Houston, kids are not at school, which is likely keeping the rate of spread down.
All of that said, the gradual increase in people leaving their homes has had an impact. And now, cases and deaths are starting to increase. Our model reminds us that there are a variety of factors impacting the transmission rate. Right now, temperatures, people's behaviors and schools being out work in our favor. Come September, two of those three will turn the other way.
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Michael Griebe is the co-founder and chief statistical officer at Houston-based Statistical Vision. To read more about the company's initiative, click here.
The energy industry needs to re-evaluate its priorities for the workplace. Photo courtesy of Thomas Miller/Breitling Energy

Why Houston’s oil and gas leaders need to prioritize becoming a modern energy workplace

Guest column

The oil and gas industry today is being shaped by truly unprecedented conditions. In the face of a global economic crisis, players in this space are grappling with how best to spend and save resources in a way that's smart, deliberate and centered on expanding a company's value.

But even when the price of oil was four times what it is today, only 13 percent of the oil and gas industry's leaders said they were moving fast enough from a tech investment perspective, according to data my company, Quorum Software, pulled back in October. This was the writing on the wall that the industry was unprepared for a crisis of this magnitude, let alone two.

At the same time, there are a number of critical labor challenges that could curb Houston's oil and gas sector's ability to rebound. In order to future proof the energy industry and attract and retain young and innovative talent, Houston's oil and gas leaders need to prioritize investments in technology and start creating specific business advantages through tech.

Create a place young talent will want to land

In the Houston area, millennials age 25 to 34 make up the largest percentage of the adult population, according to the most recent data from the U.S. Census Bureau. Despite this, oil and gas has historically suffered a gap in talent for this employee subset.

As the Houston energy economy seeks to attract talent from Gen Z and millennial pools, they must invest in transformative technology and become a modern energy workplace.

In our recently released industry report, oil and gas decision makers made it clear that they understand having better technology generates more efficient workplaces. What's more, four out of five of these industry leaders think employees will leave without access to sound technology.

Technology will play as an essential part of crisis recovery, and Houston's business leaders in this sector must align their tech investments over the next two quarters in order to both drive business success and also retain and attract a rich talent pool.

Prepare for the long road ahead

Oil and gas leaders in this region are familiar with managing volatility. Prices rise and fall much more quickly than in other industries, with fluctuating regulations, border skirmishes, trade deals, weather and local and global politics all impacting an ever-changing market. We have entered a period when short-term stability and long-term success are both in jeopardy unless you innovate now – especially as the prognosis for long-term structural change in the industry indicates that things might get a lot tougher before they turn around.

In my 30-plus years in the software industry, I've heard thoughtful people talk a lot about disruption. The idea that companies use software and/or technology to disrupt both their internal operations or disrupt markets to make sure that markets don't disrupt them. In just a few months, the commodity pricing shifts have disrupted economic forces on our businesses. As much as we've talked about technology for transformation and modernization, we need to adopt strategies that allows for more agility and sustainability during big market swings.

Judging by the responses in our recent report, oil and gas decision-makers are realistic about the business challenges ahead of them and their inability to solve the problems using the technologies they have in place. Like their IT decision-maker counterparts, 95 percent of oil and gas industry leaders agree that in today's marketplace, a company that doesn't embrace technological advances will not succeed in terms of streamlining operations (land management, accounting, etc.). In fact, in oil and gas, 97 percent of respondents believe the industry will decline if it doesn't adapt to the changes around it.

The takeaway? To survive today — and thrive tomorrow — you don't need to disrupt your business, but you do need to modernize it to be agile and sustain revenue production. You need to bring new technologies into the fold to improve your efficiencies. You need to challenge the status quo, not only to help you endure today's conditions, but also get where you want to go.

This point is only unscored by recent reports that highlight how the Texas Workforce Commission is relying on tech from the 1980s as unemployment claims overwhelm the system. Across industries, and especially those experiencing the volatility that the oil and gas industry is, technology holds the key to attracting and retaining talent, streamlining operations, and staying afloat in these uncharted waters.

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Gene Austin is the CEO of Houston-based Quorum Software.
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Houston's fund of funds announces 2 new investments

money moves

The HX Venture Fund, which invests in out-of-town venture capital funds that have their eyes on Houston startups, has grown its portfolio.

The fund of funds now has a portfolio of 10 VCs from across the country, across industries, and across startup stages. According to a recent announcement, the HX Venture Fund has invested in New York-based Greycroft Venture Partners and Washington D.C.-based Revolution Ventures. The announcement also included Boston-based Material Impact and San Francisco-based venBio Global Strategic Fund, however those had been previously reported by InnovationMap.

"We are delighted to partner with the general partners of Greycroft Venture Partners, Material Impact, Revolution Ventures, and venBio Global Strategic Fund," says Sandy Guitar, managing director of HX Venture Fund, in the release. "With their proven expertise and exceptional track records, we are excited to integrate them into Houston networks and not only give them access to the Fund's innovative corporate limited partners, but also harness their knowledge to empower Houston entrepreneurs."

These four VC funds join six others that HXVF has invested in: Austin-based LiveOak Venture Partners and Next Coast Ventures, Washington D.C.-based Updata Partners, Chicago-based Baird Capital, and Boston-based .406 Ventures and OpenView Venture Partners.

"The receptivity of the HX Venture Fund model has exceeded all our expectations. Since early 2019, over 217 venture capital funds across the U.S. have expressed definitive interest in participating in our model," says Guillermo Borda, managing director of HX Venture Fund, in the release.

"It is especially noteworthy that collectively, the ten funds selected for HX Venture Fund's portfolio have $3.7 billion in committed capital in their funds to be invested with Houston on their investment radar," Borda adds. "This is at a time that provides compelling investment opportunities in the economic cycle. This is an exciting time for Houston entrepreneurs and our innovation ecosystem."

Guitar previously told InnovationMap that she's looking to curate a portfolio of VCs that is diverse in industries and stage. Additionally, before investing in a VC, the HX Venture Fund looks for an interest in investing into Houston startups. The hope is that, while not required, the HXVF portfolio funds invest in a Houston startup down the road. Earlier this year, Houston-based Liongard became the fund of funds' first example of that.

"The innovation and talent in Houston are best-in-class; we want to be investing there," says Tige Savage, managing partner at Revolution Ventures, in the release.

Rice University rises to top of Texas schools in prestigious U.S. News & World Report ranking

Head of class

Rice University continues to rise in national surveys. The latest: U.S. News & World Report's 2021 Best Colleges, released September 14, anoints Rice as the best university in Texas. The prestigious Houston school — dubbed the "Ivy League of the South" — ranks No. 16 among national universities, up one spot from last year.

This is in step with last year's U.S. News & World Report's Best Colleges list, which also named Rice the best university in Texas.

The trusted report compared more than 1,400 undergraduate institutions across 17 measures of "academic quality" this year. Acknowledging the ongoing impact of the coronavirus pandemic on students and schools, the publication made several updates to its methodology, notes a release.

For 2021, U.S. News added two new metrics to measure student debt. It also increased the weight of the outcome category, which measures graduation rates, retention rates, and social mobility, and reduced the weights for standardized test scores, high school class standing, and alumni giving. And, for the very first time, the report ranks test-blind schools (those that don't require an SAT or ACT score for admission).

"The pandemic has affected students across the country, canceling commencement ceremonies and switching classes from in person to remote," said Kim Castro, editor and chief content officer, in a release. "Whether students have slightly altered their college plans or changed them entirely, it remains our mission to continue providing students and their families with the tools they need to help find the right school for them."

Now, on to the rankings. Here's how Rice scores in the prestigious report:

  • No. 6 in Best Undergraduate Teaching
  • No. 8 in Best Value Schools
  • No. 18 in Most Innovative Schools (tie)
  • No. 224 in Top Performers on Social Mobility (tie)
  • No. 19 in Best Undergraduate Engineering Programs (tie)

For 2021, the University of Texas at Austin ranks No. 42 nationally, up a significant six spots from 2020. It's also the school's highest ranking on the report since 1985, touts a news release from the university. Among the country's public universities, UT Austin climbed four spots from the previous year, landing at No. 13.

As for Texas' other top schools, Southern Methodist University and Texas A&M University are tied at No. 66 nationwide, while Baylor University and Texas Christian University rank No. 76 and No. 80, respectively.

The lofty U.S. News & World Report ranking is just the latest in accolades for the Owls. Rice was recently named the seventh best college in the U.S. and the best college in Texas by Niche.com.

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This article originally ran on CultureMap.

Trusted Houston bank identifies 4 coronavirus-related scams you need to know

On Your Side

As the COVID-19 pandemic has grown, so has the confidence of fraudsters who are hoping to scam people out of money. A large portion of our everyday lives have moved online and onto our phones, so it's more important than ever that you know what common tricks to watch out for.

Texas Citizens Bank continually looks out for its customers, creating tip sheets that help everyone become more educated about different types of fraud, from email scammers to debit and credit card crooks.

Here, they outline four common COVID-19 schemes that are making the rounds:

1. Fake offers of info, supplies, or payments
If it sounds official and mentions COVID-19 or the CARES Act, it must be legit, right? Wrong. These websites, mobile apps, and emails with links or attachments are entirely fake. Do not open, click, or download anything sent to you — instead, go directly to the official website on your own to find the info.

2. Someone posing as a doctor or ill family member
If you get a call claiming that someone you love is ill with coronavirus — and too ill to come to the phone, at that — and needs money for treatment, don't believe it. Hang up immediately and call that family member yourself.

3. Claims that your Social Security benefits are suspended
If you receive a letter or email, no matter how official-looking, that says your SSA benefits have been suspended due to COVID-19, know that it's not true. The SSA has not suspended or reduced any benefits, pandemic or not. Be sure to report this scam to the government here.

4. Offers of COVID-19 tests and vaccines
If someone is claiming they can send coronavirus tests directly to your house, they're lying. If they claim they can do the same with a vaccine, they're really lying. You can only obtain tests at hospitals, urgent care facilities, and your doctor's office, and we're still waiting on a reliable vaccine to be approved. Until then, be extra careful about who you believe.

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Texas Citizens Bank is an independently owned, FDIC-insured bank that specializes in Houston's small and medium-sized business owners. If you have questions about financial options during coronavirus or how to keep your money safe, contact a TCB banker today at 713-948-5700.

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