Exclusive: Houston sports tech company rebrands to attract a wider range of clients

Name change

FanReact is now Truss, and the company will be able to reach a greater audience. Photo by PeopleImages

A Houston company that's specialized in digital sports fan engagement is reinventing itself to grow its client base.

FanReact, which earlier this year spun off its esports business into a new company called Mainline, is now known as Truss. 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.

"Our team has done an incredible job creating great digital experiences for our customers in the sports and athletics space," says Patrick Schneidau, CEO of Truss, in a news release. "At the same time, we have heard from organizations outside of sports that they want to create a similar 'fan experience'' for their customers, employees, partners and volunteers by providing content and connections the same way that athletic teams do."

According to Schneidau, there's also some market dissatisfaction that has left Truss with this opportunity for growth.

"Those organizations and their audiences – while not wanting to sacrifice great user experience and engagement – don't trust current options that host their communities at the expense of a loss of privacy," he adds. "All of these organizations focus on the need for a privacy-focused community platform."

The rebranding ties into some technological expansions Truss now has to offer, including branded digital web and mobile experiences, verified user profiles, community-defined moderation standards, and person-to-person and group chats.

"With our new mission to serve people who share a passion for any organization, our customers can now create the same level of engagement already available with your favorite sports team," says Schneidau. "Whether your organization supports critically ill patients, service men and women, university students or people of faith, Truss can create the communication, collaboration and connections that so many organizations desire for their community."
Houston-based iownit.us secured $4.5 million to grow its platform. Getty Images

Houston investment platform completes a $4.5 million Series A round

Money moves

A Houston-based digital investor infrastructure platform closed an investment round of its own. Iownit Capital and Markets Inc. announced that it has closed a $4.5 million Seed round of funding.

The round was lead by a group of private investors who were not identified in the June 26 release. While iownit.us CEO Rashad Kurbanov has been working on the platform for two years, he still awaits regulatory approval.

"This funding shows the demand for a platform like this in the marketplace, and will be crucial in making sure our platform meets regulatory requirements," Kurbanov says in the release. "We're doing everything we can to get this correct from the very start — unlike many firms who say, 'better to ask for forgiveness than permission,' we ask permission first because we don't want to ever be in a position where we're asking for forgiveness."

The primary function of the funds will go to wrapping up this approval process to insure the company has all of its required licenses. After that's all squared away, the remaining funds will go toward business development and marketing initiatives and technological advancements.

Iownit.us uses private blockchain and ledger technology to transact traditional investment deals securely on its digital platform.

"We realized there's a big section of the overall capital market that has not necessarily been touched by technology, and that's the space of private securities," Kurbanov tells InnovationMap in a previous interview.

Kurbanov says the convoluted process of private securities investment has meant that startup companies are much more likely to focus on receiving funding venture firms, because they want to have a one-stop-shopping experience.

When entrepreneurs add in multiple investors, they end up juggling too much of the logistics side of things, rather than running their company. Iownit's platform, enabled by the JOBS Act, plans to simplify this process, which then allows for a diversity of investments in the ecosystem that's in the past been dominated by huge VCs.

"What we do, and where technology helps us, is we can take the entire process of receiving interest from investors, signing the transactions, issuing the subscription agreements, and processing the payments and put that all online," says Kurbanov.
Cryptocurrency doesn't have to be a big, confusing risk with this Houston startup's technology. David McBee/Pexels

Houston startup that simplifies way to analyze cryptocurrency trends plans expansion

equipped for crypto

A new Houston startup is changing the way traders and investors analyze trending cryptocurrency.

Spencer Randall, CryptoEQ's principal and co-founder, says the mission of the company is to simplify ratings and analysis in cryptocurrency. With the company's beta now live, Randall hopes that those not familiar with cryptocurrency will be able to use the platform as a learning tool. The platform takes information on trending cryptocurrency and boils it down into three columns -- rating, technical analysis and trend analysis -- in order for users to know when to buy or sell.

"(It) is very complex," Randall says. "We see the utility and digital assets helping the common person so that they can try and boil down the information."

Randall, whose interest in investing and trading in cryptocurrency began a couple of years ago, became a frequent attendee of Bitcoin meetups in Houston, Austin, and San Antonio. There, he met his co-founders, lead designer Brooks Vaughan, program manager Norman Hamilton, lead analyst Michael Thoma, and lead marketer Joseph Romero.

The co-founders all recognized a need for reliable and trustworthy information in the cryptocurrency space and decided that creating CryptoEQ was the answer. The company hopes to expand its platform by the end of the third quarter this year.

"We really wanted to start building a platform that we would want to use as people organically enthusiastic about the (cryptocurrency) space," Randall says. "We built the platform for use at those meetups. It has a landing page where you can just jump on and get a feel in a matter of seconds of how the market is doing. This beta is intended to be a place where you can come throughout the day to check in on the market and check in on how things are going and learn about where'd you like to go next with crypto."

And while Houston is still an expanding technology hub, Randall thinks the city is an undervalued place to grow a small company like CryptoEQ. He credits innovation hubs like the Rice University's Liu Idea Lab for Innovation and Entrepreneurship, also known as Lilie, for creating the opportunity for Houstonians to thrive in the startup field.

"Houston is a place where entrepreneurs can actually thrive," Randall said. "You see a lot of people go to Austin because that's where the startup culture is in Texas. As Houston catches up, I think you'll see less of the talent leave."

CryptoEQ offices out of The Cannon, which is opening its 120,000-square-foot entrepreneurial campus this summer.


The CryptoEQ founders met at various Texas Bitcoin meetups. Courtesy of CryptoEQ
Natalie Goodman founded Incentifind, which connects home builders and commercial developers with green incentives. Courtesy of Incentifind

Unique Houston startup is finding ways for developers to go green — and save money in the process

Seeing green

When asked about the origin story of IncentiFind — a Houston-based startup that connects real estate developers and home builders with green construction incentives — founder Natalie Goodman doesn't mince words.

"We're a complete accident," Goodman says. "I'm an architect. We didn't set out to have a startup."

IncentiFind's mission is to increase the amount of green developments and construction projects in the U.S. The company is equipped with a massive database of green incentives that are offered by utility, county, city, state and federal agencies. Many home builders or commercial developers don't take advantage of green incentives because they're simply not aware of them, Goodman says.

"The government is strapped — they have all this money that they want to give away, but not the (marketing) money to get the word out," Goodman said. "That's where IncentiFind stepped in."

Goodman said IncentiFind's goals differ slightly for commercial and residential developers. For commercial developers, the database is built to be simple, predictable and intuitive. For home builders, the model is to make IncentiFind as simple and inexpensive as possible, since new homeowners are already shelling out cash for home improvement projects.

Commercial developers can expect to spend around $1,500 with IncentiFind, while homeowners can expect to spend between $50 and $150.

By tapping into IncentiFind's resources, Goodman says that clients can expect up to a tenfold increase on their investment with IncentiFind — all while developing in an environmentally conscious way.

An 'overnight' surge in demand
Goodman started building the infrastructure for IncentiFind several years ago, and long before she thought she'd one day be running a startup. She was a sustainability architect, living overseas and seeing that green architecture was far more common around the world than it was in the U.S.

Once she returned to the U.S., Goodman called a good friend at the Department of Energy, and asked where she could find a central database for green construction incentives in the U.S. She was told that a central database didn't exist, and probably never would.

"So, I created it selfishly just for me," Goodman says. "I thought [that I was] going to have this tiny little architecture firm, and we're going to do all things green."

At that time, several outdated incentive databases were still funded by public agencies. But at the end of 2017, a massive defunding of databases meant that Goodman's resource was the only one of its kind in the U.S.

Following the defunding of those databases, Goodman saw a surge of activity to her website from people who used to rely on those databases as go-to resources.

"Overnight, we saw that traffic come to us," Goodman says. "We didn't do any marketing — it was all organic. People were desperate to find this information. We weren't high on Google."

From Houston, to Austin, to Houston again
From there, Goodman decided to take her database to the next level. Six employees were hired, and in April 2018, IncentiFind officially launched in Austin in The Capital Factory, a major startup incubator. Goodman and the IncentiFind team were commuting from Houston. She wanted to launch the business in Houston, she said, and while there were a lot of exciting developments underway at Station Houston, Houston's startup scene was still clouded with uncertainty.

"There's already so much instability with a startup, and we can't surround ourselves with more instability," Goodman said.

IncentiFind graduated from The Capital Factory's startup accelerator in August 2018. From there, IncentiFind landed at The Cannon, and is continuing to grow in Cannon Ventures. In less than twelve months, Goodman said she's seen Houston's startup scene undergo a nearly 180-degree shift, in large part due to the growth of The Cannon.

"I truly think that they're going to put Houston on the map for a radically new service, because they'll actually roll up their sleeves and do work with you," Goodman said. "[They'll do more] than just send you links or give you 15 minutes to ask someone a question. They'll give you all the time in the world, and [give] as many hours as you want."
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2 Houston universities top list for best graduate, undergraduate entrepreneurship programs

Best of the rest

In Houston, a little bit of friendly competition between two universities goes a long way, but each gets a win according to a recent ranking.

The University of Houston's Cyvia and Melvyn Wolff Center for Entrepreneurship within the C. T. Bauer College of Business claimed the top spot on the 2020 Princeton Review's top 15 programs for undergraduate entrepreneurship studies. Meanwhile, Rice University's Jones Graduate School of Business claimed the top spot on the graduate schools list.

Both schools have appeared on the list before, but it's the first time either has topped their categories.

"Entrepreneurship and the creation of new businesses and industries are critical to Houston and Texas' future prosperity and quality of life," says Rice Business Dean Peter Rodriguez, in a news release. "Today's ranking and our decades-long leadership in entrepreneurship education and outreach is a testament to our visionary and world-class faculty, the enormous success of the Rice Business Plan Competition and of our commitment to our students and the community we serve."

The Rice program, which in 1978, has appeared on the top-10 list for 11 years in a row, and it's the fourth time for the program to make it into the top three. According to the Princeton Review release, Rice grads have started 537 companies that went on to raise over $7 billion in funding.

A UH news release also calls out the fact that UH has seen more than 1,200 alumni-founded businesses, which have amassed over $268 million in funding over the past decade. UH's program, which began in 1991, has appeared in the top 10 list since 2007, and rose from the No. 2 position last year.

"The Wolff Center is the catalyst, but entrepreneurship goes beyond that to the entire Bauer College, including RED Labs, social entrepreneurship, energy, health care, arts and sports entrepreneurship, among many other programs," says Bauer Dean Paul Pavlou. "We're an entrepreneurial university, and innovation and the startup ecosystem we want to promote for the city of Houston starts with the Wolff Center and Bauer."

The ranking considered more than 300 schools with entrepreneurship studies programs and factored in over 40 data points. Some of the factors considered include: the percentage of students enrolled in entrepreneurship courses, mentorship programs, the number of startups founded and investments received by alumni, and the cash prizes at university-backed business plan competitions. The rankings will be published in the December issue of Entrepreneur magazine.

Sustaining a culture of innovation is key to driving the energy industry, says this Houston expert

Guest column

The prevailing economic environment has made innovation essential to gaining a competitive edge in the oil and gas industry.

Global economic shifts and the unstable oil market have been considerable factors inhibiting the advancement of innovation in the oil and gas sector. Oil prices have not significantly increased in the past four to five years, while investors and Wall Street hold corporate executives accountable for capital discipline.

In light of these trends, corporate culture and innovation are key factors that hold the potential to drive novelty in the next upcycle. To bring value to shareholders, the oil and gas industry needs to nurture an environment that fosters a radically innovative culture to create new product lines and markets, unique ecosystems, product content, and processes.

Culture from the top down

Organizational culture is one of the essential dynamics that drive innovation. Employee behavior helps influence and promote the acceptance of innovation as a fundamental corporate value. Organizations are therefore admonished to concentrate on fostering an innovative culture that allows the growth of new ideas.

This culture needs to be created by deliberate action on the part of leaders of industry or by indirect measures such as composition and institutional policy directions. A model of innovative culture which translates into cultural transformation emerges as a result of this deliberate action and institutional policy directions.

Various studies over the years have examined innovative culture models focused on cultural characteristics or factors. A comprehensive, innovative culture model that incorporates cultural traits and their determinants is reviewed in this contemplative piece.

Execution  culture vs. innovative culture

In her book, "The Culture Map: Breaking Through the Invisible Boundaries of Global Business," Erin Meyer explains that "ambidextrous culture" is the concurrent search of flexibility and alignment at a business unit/sector which is linked to several organizational outcomes including improved performance and innovation.

This ambidextrous culture can be divided into two broad categories: Execution culture and innovative culture. Execution culture is a working environment that is more process- and task-driven to get things done. The oil and gas industry has typically favored the execution culture, where there is a central decision-maker at the head of the table. Research and recommendations on pertinent matters are typically presented to decision-makers who sit through a PowerPoint presentation. Subsequently, a decision is made based on the facts presented via PowerPoint presentation.

One critical demerit of this setup is that it usually leans towards low-risk conservative judgment. The executive lifestyle has worked in the past in the oil and gas industry due to the high fixed cost, and the "failure is unacceptable" approach in the industry.

With new technologies such as 3D printing, predictive analytics, machine learning, and deep learning, one can test some ideas or thoughts through rapid prototyping in a lab setting to test their hypothesis. Therefore, this type of culture as a sole approach to decision-making in the industry may need to be reconsidered.

Meanwhile, innovative culture is a work environment where leaders encourage and nurture unorthodox thinking in approaching problem solutions and applications. If the energy industry leaned more toward this style of culture, it would help foster innovation and accelerate the innovation landscape in the industry.

Innovative culture is a more design-oriented approach that generates a large pool of options and also incorporates a visual thinking framework. It enhances a creative mode for the audience, and everybody in the company ends up being a decision-maker. This type of culture fosters open innovation, eliminates the fear of expression, and pushes for more collaboration and creativity in the ecosystem.

According to a recent survey done by Accenture Strategy, 76 percent of leaders say they regularly empower employees to be innovative, while only 42 percent of employees agree. This shows an apparent disparity in more than the perceptions of employers versus employees and the belief that innovative culture is not promoted by middle management. This barrier can be broken down by instituting and enforcing an innovative culture.

Staying agile in a transforming world

The world has changed, and it will continue to transform. Various factors are disrupting traditional methods of business management across the globe, and organizational behavior is being impacted significantly. For an organization to be competitive globally, it requires innovation and creativity.

The rate at which businesses are facing competition requires agility. Employees are pressured to give their best and to come up with new ideas at a level even beyond some of history's greatest minds. For many, uncertainty and insecurity abounds. The fear of being made redundant and a resulting lack of trust prevents creativity among employees.

Trust, productive gameplay, and fun — critical components of an innovative culture — can spark creativity and increase global competitiveness. Due to the recent downturn, most teams are burdened with the same amount of work, which was meant for double or tripled their workforce and are still expected to perform at their peak capability. They need the right conducive environment to function.

Implementing action

While the energy industry should avoid trying to copy innovative practices from technology companies, oil and gas companies should review possible case studies that can be incorporated in fostering an acceptable culture for millennials to be attracted to the industry.

Presentation is important

Take a look at your marketing materials, for instance. Skip the stereotypical image of the macho oil guy on a rig operating the brake handle and showcase how the industry is adapting open innovation across sectors such as using predictive analytics and rapid prototyping to help design a safe working environment. Showcasing the conducive culture we experience in oil and gas, which challenges us to think outside the box and solve the world's energy problems will be an excellent way to create opportunities internally in companies and also attract and retain talent from different backgrounds and industries to help solve the world's energy problems.

Consider flexible work initiatives

To help establish and foster an innovative culture in oil and gas, the industry needs to embrace virtual and remote working environments, retraining and refresher courses to keep employees' skills relevant to solving problems, leaders setting a positive example on work-life balance and cutting down or avoiding long-distance travel via virtual meetings. Others essential pointers to consider are, giving employees the freedom to be themselves at work, leadership or management having a positive attitude towards failure, allowing remote work on days on which employees have personal commitments, networking events with company leaders scheduled during office hours, having an open channel for the report of sexual discrimination/harassment incident(s) to the company, among others.


I'd like to close with a quote from another influential book, "The Innovator's Dilemma," by Harvard Professor Clay Christensen. He writes, "When an organization's capabilities reside primarily in its people, changing to address new problems is relatively simple. However, when the capabilities have come to live in processes and values and especially when they have become embedded in culture, change has become extraordinarily complicated."

Establishing a uniquely innovative culture within the energy industry will be a great foundation going forward, for spurring progress in the oil and gas sector.

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Nii A. Nunoo is senior associate and management consultant within Strategy and Energy Core Operations at KPMG.

This Houston virtual health care platform makes it easier to get answers

digital check up

As hard as he tried, Brigham Buhler couldn't achieve the weight-loss and fitness goals he'd set in his mid-20s. Plus, he constantly felt tired and stressed out. On top of that, Brigham's entire immediate family has diabetes, and he was exhibiting the warning signs.

Buhler's nutritionist recommended he get his hormones checked. It wound up taking three months to get an initial appointment with a urologist, who then recommended a comprehensive blood test.

The blood work revealed that he did, indeed, have a hormone deficiency. Subsequent hormone treatment, in addition to taking vitamins and supplements to combat various risk factors, got Buhler's endocrine system back on track.

Born out of that frustrating situation and spurred by his more than 15 years in the medical-device industry, Buhler launched Houston-based Ways2Well in 2018. Propelled by a virtual health care platform, the company envisions a better way to treat patients by challenging the traditional health care model.

"While most virtual health care providers focus on sick care — treating patients experiencing symptoms that indicate sickness — Ways2Well is focused on preventative health care," says Buhler, a graduate of the University of Houston.

Through his own patient journey, Brigham Buhler saw a need for Ways2Well to exist. Photo via ways2well.com

Here's how Ways2Well works.

A patient visits the company's website to schedule a blood analysis at a Houston-area location of Quest Diagnostics. (Each year, Quest Diagnostics serves one-third of American adults and half of U.S. physicians and hospitals.)

Before the lab work, the patient discusses health concerns and wellness goals through a virtual appointment with a Ways2Well nurse practitioner.

Once the blood analysis is done, the nurse practitioner reviews the test results during a virtual appointment. The practitioner pinpoints underlying causes of chronic symptoms and potential risks for major conditions like heart disease, cancer, and diabetes. Those three ailments are the main drivers of the $3.5 trillion in annual health care costs racked up in the U.S. Ways2Well strives to reverse the symptoms of these and other chronic illnesses.

Finally, the nurse practitioner shares lifestyle or dietary changes that can reduce the likelihood of developing chronic diseases.

"Our online platform allows you to manage your health care journey from the convenience of your home or office, as long as you have access to a computer or phone and internet," Ways2Well says on its website.

Ways2Well charges nothing for a patient's initial 15-minute consultation. The blood analysis costs $299; Buhler says it goes well beyond what primary care doctors normally offer. The review of the blood analysis costs $120. Follow-up appointments cost $60 each. Neither Ways2Well nor ReviveRx accepts health insurance. However, an insurer might reimburse some out-of-pocket expenses.

The Ways2Well clinical team can prescribe medication, hormone therapy, prescription-grade vitamins and supplements, and other remedies through Ways2Well's partner pharmacy, ReviveRX. Ways2Well and ReviveRx occupy offices in the same building.

Typically, health care providers and pharmacies don't collaborate that closely on patient care. "Ways2Well is bridging that gap to offer better treatment to our patients," Buhler says.

Although ReviveRx is a full-service pharmacy, it doesn't operate like retail pharmacies such as Walgreens and CVS. Rather, patients are referred directly to ReviveRx by Ways2Well or Houston health care providers.

Today, Ways2Well focuses on the Houston market. But Buhler says the 12-employee, self-funded startup aims to expand to other Texas markets, such as Austin, Dallas-Fort Worth, and San Antonio.

"Because Ways2Well is a virtual health care provider that offers appointments via video conferences and leverages the Quest Diagnostics network for blood analysis, Ways2Well can treat patients from anywhere in Texas," he says. "Ultimately, the goal is to make Ways2Well available nationwide, with a team of clinical experts across the U.S."

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