Houston expert: Build workforce resiliency by investing in a long-term, low-cost internship strategy

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By building a pipeline of eager, talented employees, and embedding institutional knowledge in your organization, you can reduce the burden of extra work on remaining employees and reinvigorate your business. Photo via Getty Images

Short-term talent shortages can feel overwhelming, especially if your company is navigating staff shortages, while also planning for future growth.

While internship programs can get a bad rap, there are many benefits to providing opportunities for early career professionals in any organization. By building a pipeline of eager, talented employees, and embedding institutional knowledge in your organization, you can reduce the burden of extra work on remaining employees and reinvigorate your business.

Get more engagement and develop champions at your company by incorporating three vital ingredients into your internship program strategy:

Hire based on core values & interns’ ability to thrive at your company
Invest in training
Provide meaningful work

Build a strong team: hire based on ability to thrive

To ensure your organization’s growth is coming from a diverse talent pool, build a hiring process around employees' future ability and core values, instead of what they have done in the past. Oftentimes, you’ll find that an intern’s coachability, willingness to learn and growth mindset are better determining factors towards future success than past experience.

During the recruitment and hiring process, ask your interns questions to probe values, interests, and passions. To determine if they have a growth mindset, you can ask, “What do you read in your time off to stay up to date with the latest trends in the industry? What did you learn yesterday?” or “Tell me about a time you received feedback. What did you do with this?”

Make sure that each intern that comes on board feels like a part of the team. Let them immerse themselves into your company’s culture, work environment, and industry by inviting them to your employee team-building activities, monthly company-wide conference calls, and other events that provide them with more context about your culture. Schedule weekly touchpoints with each intern to regularly check in on goals, their progress on tasks, and overall concerns. Not only will these meetings strengthen trust, but they will also position interns to succeed at your company.

Build resilience: invest in training

When you invest in a thoughtful, effective training experience, your interns will be more committed to the role because they’ll see the added effort you’re making towards their career.

Consider how your current training is structured and implemented so that your internship training experience is up to speed with the expectations of Gen-Z. Explore out-of-the-box training options, including coaching, virtual learning, and assessments that they will actually use.

In addition to the hard skills that are essential to supporting any company, ensure that you are training interns on core competencies. The National Association of Colleges and Employers identifies eight core competencies that are vital to career readiness: career & self-development, communication, critical thinking, equity & inclusion, leadership, professionalism, teamwork, and technology. When you teach interns these core competencies as soon as they join your organization, you will see an immediate boost in productivity, and you can objectively assess for future full-time employment.

Build momentum: provide meaningful work

After you’ve clearly mapped out your internship training experience, clearly outline projects from each of your company’s departments before you onboard interns. By planning ahead, and having a running list of projects that don’t require much explanation, you can give your interns a sense of purpose as soon as they join, which in turn will prevent bored interns from disengaging.

Ask interns what their goals are for their internship so you can not only help them make those goals a reality, but also tie their goals back to your company’s overall goals. As you offer meaningful enrichment opportunities, you will land top talent through your internship programs, and word will spread to bring in better talent for future internships.

Come out on top with a strong team

Businesses that take advantage of bringing on interns during a talent shortage can come out of hard times better prepared for the future. Once you have a strong and sustainable internship program, it will only grow and gain momentum.

Weather any storm that’s ahead by continuing to attract the best talent. Your company deserves it.

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Allie Danziger is the co-founder of Ampersand, an online training platform for businesses and professionals looking to level up their talent.

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Report: Houston's VC trends so far in 2024 and what to watch for the rest of the year

by the numbers

Houston-based geothermal company Fervo Energy accounted for more than half of the venture capital raised by Houston-area startups in the first quarter of 2024.

The region’s VC haul in the first quarter totaled $462.4 million, according to the PitchBook-NCVA Venture Monitor. That’s up from $290.4 million during the same period in 2023 and from $285.8 million in the fourth quarter of last year. Click here to see the Q1 rounds as reported by InnovationMap.

Fervo’s latest funding round, announced in February, represented $244 million (52 percent) of the region’s VC total for the first quarter of 2024.

A report released in March by PitchBook indicated that VC funding last year for geothermal power reached $431 million across 21 deals. As of late February 25 — four days ahead of the Fervo announcement — $165.5 million in VC funding had been pumped into the geothermal sector this year, according to PitchBook.

“The recent VC deal activity with the geothermal power sector underscores a vibrant and evolving market, but still one that garners far less VC than other renewables,” says the report.

In all, Houston-area startups made 38 VC deals in this year’s first quarter, the PitchBook-NVCA Venture Monitor says. That’s down from 42 in the fourth quarter of 2023 and 43 in the first quarter of 2023. Nationwide, the deal count fell sharply in the first quarter of 2024 vs. the first and fourth quarters of last year.

The PitchBook-NVCA Venture Monitor report shows that nationwide, the $36.6 billion in VC investments recorded during the first quarter of 2024 “remained relatively on pace with the past year.”

“However, it would be a mistake to hyperfocus on the results of a single quarter whose results were a bit farther left on the bell curve than usual. The venture capital … business cycle effectively reset in recent years, and as of early 2024, it still appears to be searching for its level,” says the report.

“It is too early to tell where 2024 is going, but the game is on, and America’s VCs are ready for it,” the report adds. “In 2022, our world changed; in 2023, we accepted it was not changing back; and in 2024, we are building what is next.”

In a bit of good news for the Houston area, the report cites cleantech/energy as one of two sectors that venture capitalists should not overlook. The other sector: cybersecurity.

But in a bit of not-so-good news for the region, the report notes a slowdown in VC deals in the healthcare sector over the past two years in the wake of “pandemic-fueled capital exuberance.”

“Yet the healthcare sector differentiates itself from the rest of the market by demonstrating many unmet needs that could have a profound impact on society, particularly around disease diagnosis and treatment,” the report goes on to say. “On top of the immense opportunity set for disruption within healthcare, investor enthusiasm around AI adoption in drug development further speaks to the demand for better solutions in biotech through groundbreaking innovations.”

Rice, UH name student startup cohorts to annual summer accelerator

ready to grow

For the 11th year, Rice University and the University of Houston have teamed up to present their summer student accelerator programs.

UH's RED Labs and Rice's OwlSpark will be hosted at the Ion over 11 weeks of programming, networking, and training as each of the 18 participating companies are introduced to Houston's innovation ecosystem.

“The collaboration the University of Houston has with Rice University gives founders in RED Labs and OwlSpark a unique opportunity to grow along their peers in the larger Houston community and really exemplifies the spirit of collaboration that the Houston business ecosystem is known for,” Managing Director of RED Labs Liana Gonzalez-Schulenberg says in a news release. “It never fails to surprise me at the end of the summer the relationships built, the support systems created and collaborations produced across our universities. By working together, we empower the next generation of entrepreneurs to work together as they turn their visions into reality and drive positive change in the community.”

The programs conclude with the Bayou Startup Showcase on August 1, an event that's open to the public. Those interested can sign up online for more information.

“We’re celebrating more than just an 11-year partnership; we’re recognizing a dynamic alliance that has been instrumental in fostering entrepreneurship and propelling Houston to the forefront of innovation,” Managing Director of OwlSpark Jessica Fleenor adds. “This partnership exemplifies our dedication to cultivating a thriving environment where entrepreneurs can connect, grow and succeed surrounded by unparalleled resources and support. We are incredibly excited to see these new ventures grow as they join our growing network and are thrilled to host our cohorts at the Ion, positioning us at the core of our city’s vibrant innovation landscape.”

Here are the companies selected for each of the two programs, as outlined in the news release:

University of Houston RED Labs Class 12

Root Planters develops smart indoor plant care devices designed to prevent plant death by providing automatic watering, tailored for busy individuals and gardeners looking to maintain plant health with minimal effort.
Burb Groceries is an online grocery retailer for people with chronic health conditions.
That Dude’s Bakehouse offers premium, half-pound cookies, combining choice ingredients and craftsmanship with the mission of being the best part of somebody’s day
Mulligan Bandit aims to redefine golf fashion, offering affordable yet high-quality clothing that seamlessly transitions from the fairway to the streets, reflecting personal style while ensuring durability and comfort.
Surreal Vision offers immersive mixed reality solutions that provide dynamic visualization experiences to enhance design collaboration and client presentations.
Agave Catering is a catering company focused on providing high-quality, gourmet boxed lunches for professionals on the go.
Digitally Marie is a purposeful creative agency dedicated to reducing the opportunity gap for female entrepreneurs. Through our heart-driven approach, we elevate content production embodying their brand perception with unapologetic authenticity.
Unison is a personal contact relationship management tool that alleviates the risk of data loss and helps to build more meaningful professional and personal relationships.
Brain-eNet is a platform that provides hardware and software tools to enable the development of brain-controlled Internet of Things applications.
Pasha Blend Collection specializes in creating modern skincare products that embodies purity, authenticity and inclusivity.
Arresting Motion is a brand strategy design consultancy and marketing agency that transforms Houston’s top real estate firms into the brands they deserve.
CalliDanna is a consulting company that coaches girls 12 to 18 to help improve their lives professionally and personally.

Rice University OwlSpark Class 12

EcoFleet Solutions offers rechargeable electric power units for semitrucks, powering air conditioning and cabin functions during stops without engine idling, cutting fuel costs, maintenance and emissions.
Houston Community Print Shop offers printmaking classes and equipment access, focusing on community building and supporting underserved areas.
KOQ Agency curates and organizes global tours and live entertainment opportunities for queer and ally artists in drag, music and entertainment.
Euvivo Diagnostics is developing a direct-to-consumer test that analyzes cell aging by examining mitochondrial performance and new aging markers, tailored for individuals with mitochondrial disorders.
Hair Hub provides a compilation of styling tutorials, educational content, planning tools and a comprehensive database of products tailored for Black hair to provide resources for users to perform cost-efficient DIY haircare.
xMAD.ai is a compression-as-a-service platform that democratizes access to LLMs (Large Language Models) by making them faster, more private, cost-effective and accessible to businesses of all sizes.

Houston dazzles as most diverse large city in U.S., report says

we're No. 1

Living in a multicultural city comes with many benefits. Diverse communities bring new perspectives, greater versatility, and economic boosts, to name a few. And according to a new study by WalletHub, Houston is among the most diverse places in the nation.

Houston is getting some time in the spotlight in WalletHub's annual ranking of the "Most Diverse Cities in the U.S. (2024)," maintaining its position as the No. 1 most diverse large city in America, and the No. 4 overall most diverse. The report compared 501 U.S. cities across 13 metrics in five categories that encompass "diversity" across socioeconomic, cultural, economic, household, and religious factors.

Space City earned 72.37 out of a total 100 possible points, following behind Gaithersburg, Maryland (No. 1), Silver Spring, Maryland (No. 2), and Germantown, Maryland (No. 3). Arlington, Texas rounded out the top five. Houston is still holding strong as the most diverse large U.S. city after first taking the crown in WalletHub's 2021 report.

The city performed the best in two overall major categories for socioeconomic and cultural diversity, earning a respective rank of No. 27 and No. 31 out of all 501 cities in the study. Houston's religious diversity earned it No. 54, while it fell behind when it came to household and economic diversity, earning No. 112 and No. 156.

More specifically, Houston performed the best in the rankings for its linguistic diversity (No. 25), industry diversity (No. 28), and educational-attainment diversity (No. 29). But the city fell the farthest behind in the rankings for age diversity (No. 310) and worker-class diversity (No. 340).

Here's how Houston performed within the study's remaining categories out of all 501 cities:

45th – Racial and ethnic diversity
119th – Household-type diversity
179th – Household-size diversity
206th – Occupational diversity
226th – Income diversity
246th – Marital-status diversity
249th – Birthplace diversity

"The most diverse cities demonstrate diversity in many dimensions – not just in race and gender but also everything from residents’ languages and birthplaces to their job types and household sizes," said WalletHub analyst Cassandra Happe in the report. "These cities blend together a multitude of different perspectives, helping people to better understand the world around them and become more empathetic. This exchange of ideas also tends to increase the economic success of diverse cities."

Besides Houston and Arlington, the only other Texas city to earn a place among the top 10 most diverse cities in the U.S. was Dallas, which ranked No. 8.

Other Texas cities that earned spots in the report include Fort Worth (No. 22), Austin (No. 70), Plano (No. 83), San Antonio (No. 87), Corpus Christi (No. 125), El Paso (No. 253), and Laredo (No. 468).

The full report can be found on wallethub.com.