New Accenture exec aims to put Houston's innovation ecosystem on the map

Featured Innovator

Thomas Rubenak is senior principal of Accenture Ventures. Courtesy of Accenture

In most industries, there's a disconnect between startups and major corporations. The startups may have solutions for the big companies, but the two entities might not know how to connect with each other. That's something Accenture hopes to help with.

The company created Accenture Ventures to help connect the dots between emerging technology and big business. As the program has expanded, Thomas Rubenak was selected to serve the Southwest region as senior principal.

With a long career of working in tech, research and design, and startups, Rubenak hopes to use his experience to help grow Houston's blossoming innovation ecosystem.

"It takes a village. It's not just the amazing accelerators we have throughout the region," Rubenak says. "If you look at the Cannon, Houston Exponential, MassChallenge, and all of the ecosystem — it takes all of us together to prop up a thriving economy. That's what we're doing. We're changing not just the face of Houston but really impacting the startups as well as the clients we serve."

Rubenak spoke with InnovationMap to discuss the role Accenture Ventures plays in the ecosystem and how he sees innovation in Houston growing.

InnovationMap: You're new to your role, but you've worked with tech and startups for years. Tell me a little bit about your career to date. 

Thomas Rubenak: I come most recently from EY. I did a few assignments there, primarily working with the EY and Microsoft alliance. I was also a go-to-market lead for deep technical accounting for IPOs and other regulatory compliance issues. I worked a lot with the Entrepreneur of the Year program. Before that, I spent most of my career in tech research with Gartner and Forrester. This space is all about brilliant minds that really focus on helping the world understand what's next in emerging technology. I worked pretty extensively with venture capital, private equity and venture banks.

IM: While you’ve worked on projects across the country, you’ve been based in Houston, so you’ve been able to see the city transform, right?

TR: In my career, I've been really fortunate enough to align with amazing people in the market. Several years ago, we started a community just in Houston to bring entrepreneurs, angel investors, and some VC together. It was a nonprofit, grassroots effort called TeXchange; I just wanted to help entrepreneurs connect to sources of capital.

IM: How did Accenture Ventures get its start and what does it aim to do?

TR: Accenture realized four years ago that in order to stay competitive, it needed to tap the best of the best in the startup world. The only way to do that is to dedicate resources and people to that task, and that's how we started Ventures. As a recent joiner, my role is primarily the lead for the Southwest to bring the best of the startup ecosystem into our clients to help them solve their most pressing problems. And it's not just about problems, but also about opportunities.

It's a win-win-win. The client gets the benefit of having the best of the best and the startups get amazing exposure to companies they might not have been able to get in front of. And, Accenture is happy because it gets to serve the client.

Accenture works in multiple sectors, including resources (oil and gas), chemicals, mining — so for obvious reasons, the Southwest is a big sector for us — but, we also tap the health and public safety sectors.

As we look to design these arrangements with these startups and we find that there is a compelling need to invest in them, we'll become a minority investor. If that startup then has a M&A play that makes sense to everyone, we'll look into that as well.

IM: How do Accenture Ventures and the Innovation Hub work together?

TR: I am part of the hub, and I also serve the broader team.

What we bring to the table is amazing talent to data scientists to designers — many different resources — and we work with our clients to figure out what they want to solve or if there's a play in the market they are interested in. We can pull the best from Accenture and from the startup ecosystem to design solutions.

IM: What’s the most challenging thing about solving clients’ goals?

TR: It's not a challenge so to speak, but it's something I have to be mindful of, and that is always keeping the client's interest at hand, so recognizing and realizing that they have short- and long-term goals that they want to achieve.

IM: What's it like working with companies on the startup side?

TR: We seek specific types of startups. In order for us to be really effective, we keep a pulse on the market. Our focus is on companies that have gotten their source of funding, they've gone through their first round, companies that have great management who have been in industry or served big companies, and companies that are disruptors, innovators, or have something really compelling to bring to us. The challenge is that there are so many of them. There are so many great startup companies doing amazing things. But, as many startups as there are, there's just as many client issues.

IM: In your opinion, what challenges does the Houston innovation ecosystem still have to overcome?

TR: It's no secret that the economic engine of venture capital is in the east and west coasts. We have a lot of great VCs here, but it's about how do we keep our startups here. That's an issue that everyone talks about. But we also have seen a lot of startups move to Houston from other places. But, from the financial aspect of it, I think we could always use more of that. I personally don't think there will ever be another Silicon Valley, but we'll be something different. We'll be ourself. But, we do need those sources of capital in place. But something I want to mention is the diversity and the universities in Houston — we have a lot going for us.

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Portions of this interview have been edited.

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Houston health and wellness startup uses money as a motivator for lifestyle changes

health is wealth

Everything is different when money is on the line, and a Houston startup is using financial incentives as a motivator for its users to make smart, healthy lifestyle changes to enhance their wellness.

Healthiby, a cost-effective wellness program, is changing the game of health solutions by addressing chronic and pre-chronic conditions through innovative prevention and management methods, all incentivized by both short-term and long-term financial benefits.

"Healthiby incentivizes and empowers people to achieve better health outcomes in a team context," says Mary Beth Snodgrass, managing director and co-founder. "We're different from other wellness solutions because we're focused on changing habits, as well as incentivizing better health outcomes, providing both immediate and long-term rewards."

The company launched in May 2019 and is still in its pilot stage. Snodgrass and co-founder Dr. Tristan Hartzell, a surgeon based in Nebraska, have remained committed to their foundational concept for their startup, which is to empower people on their wellness journeys and spread knowledge about the financial benefits of leading a healthy lifestyle.

Mary Beth Snodgrass (pictured) founded Healthiby with Nebraska-based surgeon Dr. Tristan Hartzell. Photo courtesy of Healthiby.

Healthiby's notion that "health is wealth" relates to the idea that engaging in a healthy lifestyle will ultimately benefit individuals financially long-term, as healthcare costs can be avoided. Essentially, Healthiby qualifies health goals as preventative measures for chronic and pre-chronic diseases. Not only does Healthiby inform its users about the long-term financial benefits of healthy living, the program introduces exciting contests in which users are eligible to win financial rewards if they meet certain health-related criteria.

In time for the start of the new year and the health-related resolutions buzz, Healthiby enacts their user-friendly digital software application, social programs, expert health advice and financial incentives to serve their goal-oriented consumers with an engaging health management regiment that is sure to keep them on track throughout the year.

"What we're really focused on this year is, in addition to our incentives, digital content and coach guidance, is making sure that participants are engaging among themselves," Snodgrass tells InnovationMap. "Science shows there are benefits to surrounding yourself with other people who share similar health goals."

In what the program's founders refer to as a "wellness rewards solution," users are able to tap into the Healthiby digital platform to track their progress, participate in social wellness groups, invest in long-term financial incentives and access digestible, cutting edge wellness literature; all components of Healthiby's "journey goals," the program's building blocks to achieving a healthy lifestyle.

"Our software application manages our contests and our rewards, but we also have a very social component, in which participants are meeting online regularly with a dietician coach," Snodgrass explains. "The reason for this is because when we're talking about chronic and pre-chronic conditions, it's important for people to have a strong understanding of how these issues affect the body and what kinds of lifestyle changes are most effective at helping people better manage or reverse them."

Photo courtesy of Healthiby

For an annual minimum of $8 each month, individual consumers have the opportunity to invest in their own long-term wellness through this interactive, user-friendly health progress program.

"Healthiby is providing a really low cost solution for people to get additional social motivation, information, and incentives so that they can stick with their goals throughout the year," Snodgrass said.

Healthiby is currently available to individual consumers in Texas, but its founders have their sights set on expanding the business and sharing their solutions to companies vested in the importance of healthy living for their employees. For now, Houston's health and wellness consumers just got richer — both physically and financially — when Healthiby opened its digital doors to the city.

Real estate tech company founded by Houstonian launches locally, looks for office space

Homecoming

A New York-based company that uses technology to optimize the commercial real estate leasing process is expanding into Houston — and it's a bit of a homecoming for the company's CEO.

SquareFoot, which was founded by Houston native Jonathan Wasserstrum in 2011, has launched in Houston following the closing of a $16 million series B funding round led by Chicago-based DRW VC. The company uses tech tools — like a space calculator and online listings to help users find the right office space quicker and easier than traditional methods.

The Bayou City's growth in small businesses and startups makes for a great market for SquareFoot.

"Houston, in addition to being a leading market for business, is a city in transition," Wasserstrum says. "We've witnessed a growing trend of smaller companies cropping up, with startups showing that they're here to stay. I want SquareFoot to be a major part of the city's growth and evolution."

The idea for a company, Wasserstrum says, came from a friend in Houston who was struggling to find office space for his small company. Years later, that problem's solution would be SquareFoot.

SquareFoot's Houston operations are up and running online, and the listings and resources will continue to grow. Wasserstrum says the team will also open a physical office in Houston, and the team is currently looking for its own office space in a "highly-desirable" area, Wasserstrum says.

"That will not only make it easier for us to show office spaces to prospective clients, but it also sends the message that we understand these clients better than anyone," he explains. "Where you choose to open your offices is part of the story you're shaping for candidates and clients."

In regards to Houston-based employees, Wasserstrum says he will start with tapping a few Houston real estate experts. He will take the business model that was successful in New York and adapt it for Houston

"It's not only the East and West Coasts where innovation is taking place," Wasserstrum says. "We want to help Houston continue to grow as a stellar place to launch and grow a company."

National expansion is Wasserstrum's big goal, he says, and after settling in Houston, he plans to next enter into Washington, D.C., and a few other major markets.

Wasserstrum explains what the Houston expansion means to him, how tech is changing real estate, and trends he's keeping an eye on.

IM: What does it mean to be expanding in your hometown?

Jonathan Wasserstrum: Houston is where I grew up. My whole life has been shaped by what I saw and learned in Houston. I moved away for college, and have built my career on the East Coast, but Houston will always be a big part of me. My parents still live there so I have good reasons to fly home and to come home again.

As I've built out my company, SquareFoot, since 2012 at our NYC headquarters, I have dreamed of being able to expand our services nationally. We have helped over 1,200 companies find and secure office spaces in major cities. As our executive team considered where to invest in and to expand to next, Houston emerged at the top of the list. We made this decision for professional growth reasons, but that choice has an emotional element for me as well.

Going forward, I should have additional good reasons to fly home and to see my parents more often than I have had the occasion to over recent years. Plus, we save on hotel costs!

IM: What makes Houston a great place to expand into?

JW: From an office space perspective, Houston is an under tapped market. There are countless companies looking for the services we provide, but nobody has yet figured out how to build a company to serve them specifically.

We acquire many of our clients through online search — people looking for office space are literally searching online for solutions. We've seen in recent months and years a surge in searches from Houston, which indicated to us that there was a gap that had developed there. We've long had a digital presence there, thanks to these searches, but now we're increasing our physical presence on the ground. We'll hire a broker and put an office there in the coming months.

IM: What sort of trends are you seeing in office real estate? Are these trends happening in Houston already?

JW: Over the past years, we've seen a sharp increase in demand for flexible solutions. Traditional coworking spaces have worked out for many companies, but it's not for everyone.

At the same time, the long-term leases that are usually required upon signing on for an office space of your own has largely kept growing companies out of the market; it has scared them off. We realized there had to be a middle option so we launched FLEX by SquareFoot last year. Now, for the first time, all companies can find the spaces they want with the terms they want.

We are excited to introduce FLEX to the Houston market and to show companies there that there's more lease flexibility and opportunity available than they might think. Change in commercial real estate happens slowly over a long period of time. Houston has the chance now to be a part of their changing wave.

IM: How is technology changing the industry?

JW: For many decades, commercial real estate operated the exact same way. And it intended to stay that way because nobody had reason to believe anything was broken or wrong. However, there were several inefficiencies that clients just had to deal with because that was the industry standard.

The first one was the lack of transparency of which office spaces were unoccupied or what they'd cost. Brokers would lock up this information and keep clients at a distance, unless they were willing to sign on to work with them. With SquareFoot's online listings platform, we have unlocked that information, have educated countless people, and have made for a more seamless and enjoyable process for our clients as partners in their searches.

The other technological breakthrough we've made is in our mobile app. Still, in 2020, too many clients are taking tours of these offices with pen and paper and occasionally snapping a photo or video to send back to their stakeholders. Our app solved those issues once and for all, enabling better communication back and forth and a better user experience for all. Regardless of which team member goes on the office tour with our broker, everyone is clued in and on the same page.

We want everyone on the greater team to buy into the vision, and to recognize the potential, not just one representative who happened to be on the office tour one afternoon.

5 most popular innovation stories in Houston this week

What's trending

Editor's note: This week's top stories on InnovationMap are all over the map — pun intended. From the usual suspects, like innovators to know and a self-driving car startup doubling down on Houston, to trend pieces on the population boom in The Woodlands and a guest article on the need for tech education.

3 Houston innovators to know this week

Yael Katz, Topper Luciani, and Dorit Donoviel are this week's Houston innovators to know. Courtesy photos

Houston is full of innovative people looking to make an impact — whether it's in the health tech, fashion, or science industries.

This week's innovators to know represent different industries within Houston, but they are all looking to leave a legacy in making a difference. Read more.

California self-driving vehicle startup has all eyes on Houston — here's why

Last year, California-based Nuro, a self-driving car tech company, launched three pilots in Houston. Courtesy of Nuro

Houston — with its sprawl and winding roads broken up across various neighborhoods — is particularly challenging when it comes to self-driving car navigation. And that's exactly why Nuro, a California-based tech startup that's raised over $1 billion in funding, decided to focus on the Bayou City for its autonomous vehicle delivery pilot programs.

"Houston is our first full-scale operations city," Sola Lawal, product operations manager in Houston, tells InnovationMap. "All eyes at Nuro are focused on Houston."

Last year alone, Nuro launched three pilots in six of Houston's ZIP codes from Bellaire to the Heights. The first of which was a partnership with Kroger in March, followed by the announcement of autonomous pizza delivery from Domino's in June. Last month, Nuro announced its latest delivery partner was Walmart. Read more.

Booming Houston suburb hauls in top spot among growing U.S. cities

The Woodlands is booming. Photo by Derrick Bryant Photography

The Houston metro area's population is poised to continue booming over the next decade, so it should be no surprise that U-Haul calculated one Houston suburb as one of the top U.S. cities for growth.

In its annual report, released January 7, the company details migration trends across the U.S. Analyzing data from 2019, the moving and rental company placed Spring-The Woodlands at No. 14 among the 2019 U-Haul Growth Cities.

To determine the country's top 25 growth cities, U-Haul analyzed more than 2 million rental transactions over the calendar year. It then calculated the net gain of one-way U-Haul trucks entering an area versus those leaving an area. Read more.

Houston flight-tracking software company grows its local and international presence

Houston-based FlightAware, a software company that tracks flights, is growing. Cameron Casey/Pexels

FlightAware LLC's business success has, for the most part, flown under the radar in Houston.

Many travelers know about the B2C flight-tracking functionality of FlightAware. "That's a very, very competitive space. We play in that space, but it's not our core business," founder and CEO Daniel Baker says.

These days, the privately held Houston company earns most its revenue from the B2B data it provides to airlines and other aviation clients, according to Baker. He declines to reveal revenue figures, but notes that the company — which bills itself as the world's largest flight-tracking and flight data platform — hasn't taken a penny of outside funding since it started in 2005. Read more.

Preparing Houston's tech workforce starts in school, says expert

Texas Teacher

It's crucial for Houston to prepare the next generation's workforce to succeed and fill jobs with capable talent. Educational First Steps/Facebook

Recent studies have shown that nearly half of students enter college with an undecided major and as many as 70 percent of students change their major at least once during their four-year program, and it is predicted that by 2030, there will be a deficit of 7.9 million tech workers alone.

In order to better prepare the future workforce, schools are encouraging career exploration through hands-on experience. The Village School has created educational partnerships throughout Houston to offer students options to find their interests and better prepare them for postsecondary success. Read more.

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