The Texas Medical Center releasing new designs for its TMC3 campus was one of the top stories for this week. Courtesy of Elkus Manfredi Architects

Editor's note: It was a busy week for InnovationMap readers. Several articles trended all week long — from the Texas Medical Center's big announcement to this month's list of innovation events you can't miss. Here's what all our readers were checking out.

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

Here's your one-stop shop for innovation events in Houston in May. Getty Images

The month of May has business and innovation events aplenty to offer local entrepreneurs and movers and shakers. Scroll through this month's event roundup to find workshops, pitch nights, and more — and stay tuned, as more events will be added. Read the full list of events here.

Texas Medical Center reveals new details and renderings for its TMC3 campus

The design and construction team has been announced for TMC3. Courtesy of Elkus Manfredi Architects

The Texas Medical Center just announced the dream team of architects and designers that are making TMC3 into a reality.

Elkus Manfredi Architects, Transwestern, and Vaughn Construction are the three companies that will serve as the architectural and development team for the 37-acre research campus. TMC3's founding institutions — TMC, Baylor College of Medicine, Texas A&M University Health Science Center, The University of Texas Health Science Center at Houston, and The University of Texas MD Anderson Cancer Center — decided on the three entities. Read the full story and check out more renderings here.

Overheard: 9 powerful quotes from TED-style talks by Houston entrepreneurs

Entrepreneurs' Organization had seven of its members give TED-style talks on April 25. Ammar Selo

Moving the needle on something — whether it's changing the world or growing your business — hearing how others accomplished their own goals can be a beacon of hope and guidance for others.

The local Entrepreneurs' Organization chapter, EO Houston, hosted a series of seven TED Talk-style talks by members of the organization. These seven entrepreneurs discussed everything from being an introvert in a world of extroverts to the biggest security threat to American citizens: obesity. EO Talks took place at a breakfast event on April 25 at Houston Baptist University. Read the overheard quotes from the event here.

Developments in virtual reality technology are changing the workforce, say Houston experts

The solution to Houston's workforce problem might be right in front of our eyes. Getty Images

Everyone's job has training associated with it — from surgeons to construction crane operators — and there's a growing market need for faster, more thorough training of our workforce.

"The best way to learn how to do something, is to just get out and do it," says Eric Liga, co-founder of HoustonVR. "But there are a lot of reasons why you can't do that in certain types of training."

Augmented and virtual reality training programs are on the rise, and Liga cites safety, cost, and unpredictable work environments as some of these most obvious reasons reasons to pivot to training employees through extended reality. This type of training also provides portability and has proven higher retention, Liga says in his keynote speech at Station Houston's AR/VR discuss on April 25. Read the rest of the story here.

5 new technologies enhancing health care at Houston Methodist

Patients about to undergo brain surgery can use VR to see what their surgeon is about to do to their brain. Courtesy of Methodist

While hospital systems might have a reputation for being slow adaptors to new technologies, Houston Methodist is single-handedly trying to change that theory. From artificial intelligence to virtual reality, the hospital system is making big moves innovating and introducing cutting edge tools and systems. Read about the hospital's newest tech innovations here.


The solution to Houston's workforce problem might be right in front of our eyes. Getty Images

Developments in virtual reality technology are changing the workforce, say Houston experts

XR express

Everyone's job has training associated with it — from surgeons to construction crane operators — and there's a growing market need for faster, more thorough training of our workforce.

"The best way to learn how to do something, is to just get out and do it," says Eric Liga, co-founder of HoustonVR. "But there are a lot of reasons why you can't do that in certain types of training."

Augmented and virtual reality training programs are on the rise, and Liga cites safety, cost, and unpredictable work environments as some of these most obvious reasons reasons to pivot to training employees through extended reality. This type of training also provides portability and has proven higher retention, Liga says in his keynote speech at Station Houston's AR/VR discuss on April 25.

"You get a much higher retention rate when you actually go out and do something — physically going through the motions — than you do sitting in a classroom or reading a book," he says.

As more companies are introducing this type of technology into the workforce, there's a growing need for developers and experts to design these programs. Currently, it's rare for a company to have employees with XR expertise.

"Working on commercial accounts, I see a lot of customers who have done enterprise software — web pages and forums — but it's a very different skill set from simulations," says Jared Bienz, senior software engineer at Microsoft.

So, companies are faced with hiring developers and designers to create these training programs. Ethan LeSueur, who oversees immersive technology at ExxonMobil, says his team benefitted from the cut-throat game design industry. So many developers want to go into video game creation, but there's not enough jobs. At Exxon, developers get to create games — but for training purposes. LeSueur says he looks for a diversity of programming experience when hiring for these types of jobs.

"It's important to not have one skill set," he says. "We're looking for the people who are sort of a swiss army knife. You don't have to know everything, but if they have more than one specific skill set, that's really important."

But hiring a team might not be the only option to AR/VR development. Working with startups has been an avenue for major companies seeking out XR programs.

"People talk about digital transformation all the time, but half the time we wouldn't know what that looked like if that slapped us in the face," LeSueur says. "That's what we're asking startups to do — help slap us in the face."

LeSueur says that proving cost effectiveness is extremely important for startups looking to win big companies as clients, but so is passion. The complexity of the process as well as all the red tap of business calls for passion from a startup.

"We're trying to take a complicated physical process and digitize it," LeSueur says. "That means there's going to be a lot of back and forth."

From the startup perspective, it's not always easy working with major corporations – especially within oil and gas. Amanda, who works with construction clients and larger companies as an instructor at ITI, recommends having someone on the inside to look out for you.

"I think it's really important to have an internal champion who really owns the product and wants to see it through to its last degree of integration."

On display

Courtesy of Station Houston

After the panel, Station Houston VR companies showed off their programming.

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Exclusive: Houston coworking company to open sports tech-focused hub

go team

It's game time for a Houston-based coworking company that's working on opening a sports innovation hub this summer.

The Cannon is working on opening new hub in 53 West, a Galleria-area office building recently renovated by Braun Enterprises. The project is in partnership with Gow Media, InnovationMap's parent company, and will be co-located with the media business that runs Gow Broadcasting LLC and the SportsMap Radio Network, which includes local sports station 97.5 as well as national syndicated content.

The Cannon's founder Lawson Gow tells InnovationMap that Gow Media — founded by Lawson's father, David Gow — and Braun Enterprises were opportunistic partners for the organization.

"We've always been optimistically looking for strategic partners that we can co-locate with or team up with to create a hyper focused, niche community," Lawson Gow says. "We've spent a lot of time thinking about what that can be."

Expected to open midsummer, the new two-story space will have 23 offices and a 1,500-square-foot open space that can be used for events. All existing Cannon members will have access to the space, and potential tenants can expect a similar pricing model to The Cannon's other three Houston-area locations.

Houston makes sense for sports tech, which Gow defines as encompassing four categories of innovation — fan engagement, activity and performance, fantasy and gambling, and esports. Houston has the money, the big four sports teams, a big fan base, and corporate interest, he explains.

"Sports tech is a thing we can win at. There's no global hub for sports tech — so Houston can do that," Gow says. "We've always had that in our heads as a direction we want the city to head down, so it just makes it so opportunistic to create a space for that kind of innovation at work for the city."

53 West has been undergoing renovations recently. Photo via braunenterprises.com

Houston-based cancer and disease bio-venture launches after multimillion dollar series A

money moves

Sporos Bioventures LLC launched this month after closing a $38.1 million round of series A financing.

The Houston-based biotech company aims to accelerate the development of breakthrough therapies for cancer and immune diseases by sharing resources, capital, access to clinical trial infrastructure, and talent from within its knowledgeable team of biotech executives, entrepreneurs, academic scholars, and investors. The company was launched with four entities: Tvardi Therapeutics, Asylia Therapeutics, Nirogy Therapeutics, and Stellanova Therapeutics.

The most advanced of the four entities, Tvardi, is currently in Phase 1 clinical trial to evaluate it's STAT3 oral inhibitor. It was named a "most promising" life sciences company at the 2020 Texas Life Science Forum, hosted by BioHouston and the Rice Alliance in December. The remaining entities are in the development stages and are focused on cancer, autoimmune disease, fibrosis, and tumor growth, among other conditions.

"Sporos was founded to accelerate the development of new medicines by addressing inefficiencies and risk in the establishment of new biotech companies," Peter Feinberg, Sporos co-founder, said in a statement. "By leveraging our extensive network, including the Texas Medical Center, we first identify transformative scientific opportunities and then deploy our top-tier talent, funding, and operational support to drive these insights into a growing pipeline of first-in-class treatment options."

In conjunction with the launch, Sporos named Michael Wyzga as the company's founding CFO. Wyzga was previously CFO at Genzyme for 12 years and has held various senior-level positions in the industry.

"By strategically deploying valuable resources to young companies that would not typically be supported by top-tier seasoned talent and infrastructure, we believe that we can efficiently bring a diverse set of therapies through clinical development," Wyzga said in a statement. "I am thrilled to join a team with decades of scientific and operational expertise and look forward to guiding our strategic and financial growth."

Wyzga joins a team of seasoned leaders in the biotech and cancer research fields, including Dr. Ronald DePinho, professor of Cancer Biology and past president of MD Anderson, who will serve as the chair of Sporos' Strategic Advisory Council. Jeno Gyuris, a biotech executive in oncology drug discovery and development with more than 25 years of experience, will serve as chief science officer. And Alex Cranberg, an experienced active early-stage biotech investor, serves as director.

To expand or not to expand? Houston researcher weighs in on global growth

houston voices

You built your business from the ground up, patiently finding techniques and products that work, carefully crafting solid bonds with your clients. Then one day a new project, opportunity or simple request poses a question: Is it time to branch out overseas?

Of the welter of questions to consider, the first and most important involves location: not just the physical location of the prospective expansion site, but the cultural differences between a firm's home country and its new destination. Secondly, key company traits need to be considered in choosing the investment locations. Is your firm large or small? Young or old? Finally, of pivotal importance to companies outside the United States: Is your company privately held or state-owned?

In a recent paper, Rice Business professor Yan Anthea Zhang looked closely at these three variables with Yu Li of the University of International Business and Economics Business School in Beijing, China and Wei Shi of the Miami Business School at the University of Miami. What, the researchers wanted to know, was the relation of these three features and firms' location choices for their overseas investments?

To find out, Zhang and her colleagues analyzed 7,491 Chinese firms that had recently ventured into foreign markets with 9,558 overseas subsidiaries. Because China now has become the world's leading source of foreign direct investments, the sample promised to be instructive. Thanks to the large sample size, researchers could test hypotheses relating to firm size, age, ownership and the impact of geographical and cultural distance on their location choices.

After studying the elements of geographic distance and cultural distance, Zhang and her colleagues uncovered a paradox. Companies that had an advantage in tackling one dimension of distance were actually disadvantaged — because of the same characteristic — in another dimension.

How, exactly, did this paradox work? Larger firms, with access to more resources, can "experiment with new strategies, new products, and new markets," the researchers wrote. This large size makes geographic distance less of a concern, but it comes with a ponderous burden of its own. Company culture is directly influenced by the country of origin, Zhang wrote. Transferring that culture into a completely different environment can cause the kind of shock that could lead to failure, even with financial and physical resources to ease the geographical distance. Conversely, smaller firms may be more nimble and able to adapt to needed cultural changes — but lack the resources to make true inroads in a foreign market.

A similar paradox exists for older and younger firms, Zhang wrote. A younger firm is more likely to adapt to a culturally distant country than an older firm might, even if that youth means that geographical distance is a greater logistical challenge.

State-owned firms face a similar paradox, one that comes down to the balance of resources against cultural flexibility. A company with state-generated resources may be better equipped to move a caravan people, machinery and materials to a distant new location. However, state-owned companies often typically lack the internal cultural flexibility to handle expansion to a different environment.

What does this mean for the average manager? Simply that going global demands meticulous weighing of factors. Does your firm have the practical resources to expand overseas? Does your staff have the personal flexibility and willingness to meld company culture with that of a different milieu? It's a truism that major overseas expansions require money and heavy lifting. Less obviously, managers of successful companies must thread a very fine needle: ensuring they have the material resources to get their business overseas physically, while confirming that company culture is light enough on its feet to thrive in day-to-day life in a new place.

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This article originally ran on Rice Business Wisdom and is based on research from Yan Anthea Zhang, a professor and the Fayez Sarofim Vanguard Chair of Strategy in the Jones Graduate School of Business at Rice University.