3 Houston innovators to know this week

who's who

This week's roundup of Houston innovators includes Jim Havelka of InformAI, Christa Westheimer of New Stack Ventures, and Charles Turner of Kare Technologies. Courtesy photos

Editor's note: In the week's roundup of Houston innovators to know, I'm introducing you to three innovators recently making headlines — from health tech founders to a venture capital rising star.

Jim Havelka, founder and CEO of InformAI

Jim Havelka, founder and CEO of InformAI, joins the Houston Innovators Podcast to discuss the difference his technology can make on the health care industry. Photo courtesy of InformAI

InformAI is providing solutions for data optimizations in health care — something that'll allow for better diagnoses and treatment. Jim Havelka shares on the Houston Innovators Podcast last week that his company's success is due to being headquartered in Houston and tied to the Texas Medical Center. The company's team works out of JLABS @ TMC as well as TMC Innovation Institute.

"Those relationships have been very helpful in getting data to build these particular products," Havelka says. "Just the Texas Medical Center alone has roughly 10 million patient encounters every year. The ability to get access to data and, equally important, the medical experts has been a tremendous benefit to InformAI." Click here to read more and stream the podcast.

Christa Westheimer, venture fellow at New Stack Ventures

Need an in with a venture capital firm? This Houstonian has an idea. Photo courtesy

As a venture fellow, Christa Westheimer — who's a student at Rice University — works hard to find startups working on the next great thing. And she realizes there are so many Houston startups seeking funding, so she has some advice: get in touch.

"During my tenure as a venture fellow, I have been sifting through online resources — from Crunchbase and AngelList to LinkedIn — with the hopes of finding a really neat startup that would earn an investment from New Stack Ventures," she writes in a guest column for InnovationMap. Click here to read more.

Charles Turner, founder of Kare Technologies

Charles Turner founded Kare Technologies on the heels of a crisis — and the pandemic has accelerated the company's growth. Photo courtesy of Kare

Charles Turner saw an inefficiency in senior health care staffing — even before the industry was rocked by a pandemic. He founded Kare Technologies to use software to address this problem. In light of COVID-19, the need for better staffing solutions grew across industries and Kare expanded its features to reach hotel and restaurant workers.

"We'd always plan on doing this, and with the advent of COVID we accelerate our development on the hospitality side," Turner says. Click here to read more.

Jim Havelka, founder and CEO of InformAI, joins the Houston Innovators Podcast to discuss the difference his technology can make on the health care industry. Photo courtesy of InformAI

Houston health tech founder shares the monumental impact data can have on health care

HOUSTON INNOVATORS PODCAST EPISODE 68

Hospitals are processing massive amounts of data on a daily basis — but few are optimizing this information in life-saving capacities. A Houston company is seeking to change that.

InformAI has created several tech products to allow hospitals to tap into their data for game-changing health care.

"The convergence of technology, data, and deep learning has really opened up an avenue to look at large volumes of information and look at patterns that can be helpful in patient diagnosis and treatment planning," says CEO Jim Havelka on this week's episode of the Houston Innovators Podcast.

The InformAI team has developed two platforms that each of the company's tech products works within. One focuses on medical images and looks for subtle patterns of a medical condition, while the other can datamine patient information to identify patient risk predictors.

Currently, InformAI's sinusitis-focused product is undergoing Food and Drug Administration approval. About a quarter of the population has sinus-related issues, and the technology can help treatment and diagnosis, Havelka says.

"The data that we train our algorithms on are equivalent of 30 careers of a typical ear, nose, and throat surgeon. We see 30 times more patients in our training set than an ENT physician would see in a lifetime," Havelka says. "Being able to bring into play the patterns and unique subtleties that this data can bring into the decision making only makes the ENT more productive and more efficient, as well as creates better outcomes for patients."

InformAI has received venture capital support as well as a National Science Foundation award to advance its work. The company hopes to introduce a new round of funding later this year.

Havelka doesn't mince words when it comes to the importance of InformAI being located in Houston. The company's team works out of JLABS @ TMC as well as TMC Innovation Institute.

"Those relationships have been very helpful in getting data to build these particular products," Havelka says. "Just the Texas Medical Center alone has roughly 10 million patient encounters every year. The ability to get access to data and, equally important, the medical experts has been a tremendous benefit to InformAI."

Havelka discusses more about the revolutionary technology InformAI is working on — as well as advice he has for other health tech founders — on the episode. Listen to the full interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.


It might come as no surprise that Houston, home to the largest medical center in the world, has many impressive health startups. Photo by Dwight C. Andrews/Greater Houston Convention and Visitors Bureau

4 Houston health startups to look out for

Health tech

Houston's growing life sciences industry has been a topic of discussion of late — and it's pretty obvious why.

In March, Houston was named the No. 2 top city for an emerging life sciences market, according to CBRE data. Houston was also named the No. 2 city for STEM jobs, per a report from American Enterprise Institute's Housing Center, which cited the city's growing life science industry as a factor. Even Amazon, which recently opened a Tech Hub in Houston, credited the city's life sciences as a reason for Houston's selection.

In fact, according to a report from the Greater Houston Partnership, Houston has over a fifth of the nation's clinical trials last year. With health care innovation abound in town, here are four startups to keep an eye on.

Integrated Bionics

Stephane Smith wants his company, Integrated Bionics, and its sports tech sensor to be a big win for Houston. Courtesy of Integrated Bionics

It may have taken a couple attempts, but Stephane Smith has created a booming sports wearable business that ships products across the United States and the world. Integrate Bionics produces the Titan Sensor — a wearable device that syncs GPS with video and provides athletic metrics at an attainable price. Most of the company's customers are soccer teams primarily in the collegiate space — with some professional and even youth teams. Smith says the company has a firm footing within soccer because that's where this technology really started.

With fresh funds from Houston-based Work America Capital, Integrated Bionics is on a path to scale and grow its product's capabilities.

"We're going to continue relentless innovation — doing things that no one is expecting and helping coaches with things not even on the radar," Smith tells InnovationMap. "We'll going to be rolling out new capabilities and features that have traditionally been relegated to high-end systems or that haven't even existed before."

Read more about Integrated Bionics here.

InformAI

InformAI can use its data technology to help doctors with preventative care and diagnoses. Courtesy of InformAI

Health care is one of the industries where data management might get a "needs improvement" on its report card. Hospitals everywhere have tons of data, and they aren't using it to their full potential. Houston-based InformAI is looking to change this within the Texas Medical Center.

Jim Havelka, founder and CEO, started the company in 2017, and created a new technology that allows hospitals and medical establishments better access to its own data – which translates into more effective diagnoses and preventative care. Havelka saw a need within the medical industry for this type of service.

"There were several things missing," says Havelka. "One was access to very large data sets, because it wasn't really until the last five or 10 years that digitalization of data, especially in the healthcare vertical became more widespread and available in a format that's usable. The second convergence was the technology, the ability to process very large data sets."

Read more about InformAI here.

Mental Health Match

Ryan Schwartz realized online dating was easier than finding a therapist. He created a tool to change that. Courtesy of Mental Health Match

If only finding a therapist was as easy as finding a date in a world where dating apps are a dime a dozen. Ryan Schwartz realized as he sat in a coffee shop with a friend making a connection online, it should be that easy.

"In two minutes she could have a profile matching her with a partner potentially for the rest of her life and I was sitting there for hours and hours trying to find a therapist," he recalls. "I thought it should be easier to find a therapist than a life partner. That's what sent me on my journey."

That journey reached a watershed last month when Schwartz launched Mental Health Match, a website designed to pair patients with their ideal therapist. The idea gained traction as Schwartz described it to people he met and found that many said they had experienced similar difficulties in finding the right practitioner for their needs.

Read more about Mental Health Match here.

Lazarus 3D

Lazarus 3D is using 3D printing to help advance surgeons' skills. Photo via laz3d.com

It's 2019 and surgeons are still using the same training tools they have used for decades: produce.

Two Baylor College of Medicine-educated doctors thought that sewing up grapes and slicing bananas was a bit antiquated. Drs. Jacques Zaneveld and Smriti Agrawal Zaneveld founded Lazarus3D to build a better training model — and layer by layer, they created models of abs and ribs and even hearts with a 3D printer.

"We adapted pre-existing 3D printing technology in a novel proprietary way that allows us to, overnight, build soft, silicone or hydrogel models of human anatomy," says Jacques, who serves as CEO. "They can be treated just like real tissue."

Read more about Lazarus 3D here.

This four Houstonians saw a need in their industries and — rather than accepting the status quo — found a solution. Courtesy photos

4 Houston innovators to know this week

Who's who

The crux of innovation is identifying a problem and using your skills to ideate a solution. Each of these four innovators had their "aha" moments that led to their research and development moments, and now to where they are today.

Smriti Agrawal Zaneveld and Jacques Zaneveld, founders of Lazarus 3D

Photo courtesy of Lazarus 3D

It seemed a little antiquated that surgeons were still practicing their techniques on various fruits. Baylor College of Medicine-educated Drs. Jacques Zaneveld and Smriti Agrawal Zaneveld founded Lazarus3D in 2014 to build a better training model — and layer by layer, they created models of abs and ribs and even hearts with a 3D printer.

"We adapted pre-existing 3D printing technology in a novel proprietary way that allows us to, overnight, build soft, silicone or hydrogel models of human anatomy," says Jacques, who serves as CEO. "They can be treated just like real tissue."

Read the full story here.

Guy de Carufel, founder and CEO of Cognitive Space

Photo courtesy of Guy du Carufel

Guy du Carufel knows that in just a matter of years, there will be so many satellites orbiting the early and collecting data, there's not going to be enough people to monitor them. And, frankly, people shouldn't have to. That's why du Carufel created an artificial intelligence-enabled, cloud-based technology that can track and manage each of these satellite clusters on behalf of the cluster's owner.

"We're currently at an inflection point where the satellite industry is expected to grow up to five folds in the next 10 years because of the large companies building up these satellites," du Carufel says. "There are around 2,000 satellites active right now, and that's expected to grow to over 10,000 in the next 10 years."

Read the full story here.

Jim Havelka, founder and CEO of InformAI

Photo courtesy of InformAI

Hospitals and medical centers can be tough places to keep track of data — but that doesn't have to be the case. Jim Havelka founded InformAI to help doctors and health care providers tap into their data to provide better diagnoses and preventative care.

"There were several things missing," says Havelka. "One was access to very large data sets, because it wasn't really until the last five or 10 years that digitalization of data, especially in the health care vertical became more widespread and available in a format that's usable. The second convergence was the technology, the ability to process very large data sets."

InformAI can use its data technology to help doctors with preventative care and diagnoses. Courtesy of InformAI

Houston artificial intelligence startup aims to impact medical field

Data driven

A Houston-based startup has a new technology that allows hospitals and medical establishments better access to its own data – which translates into more effective diagnoses and preventative care.

InformAI — founded by Jim Havelka, CEO, in 2017 — is introducing the technology to the Texas Medical Center. Havelka saw a need within the medical industry for this type of service.

"There were several things missing," says Havelka. "One was access to very large data sets, because it wasn't really until the last five or 10 years that digitalization of data, especially in the healthcare vertical became more widespread and available in a format that's usable. The second convergence was the technology, the ability to process very large data sets."

InformAI currently offers four unique solutions using artificial intelligence and deep learning algorithms: Paranasal Sinus Classifier; Brain Cancer Classifier; Patient Outcome Predictors; and Surgical Risk Predictors.

According to the website, both medical image classifiers assist physicians in detecting the presence of medical conditions. The Paranasal Sinus Classifier detects and distinguishes medical conditions prevalent in the paranasal sinuses. The classifier assists physicians by evaluating sinus medical conditions at the point of care, speeding up radiologist workflow by flagging medical conditions for further review, and providing a triage of pending sinus patient study reviews. The Brain Cancer Classifier focuses on several tumor types and has the potential to provide radiologists and surgeons with additional insights to inform their diagnoses and treatment plans.

In addition to the classifier solutions, the predictors are also key to patient care, as InformAI patient outcome predictors evaluate the risk of adverse outcomes from a surgical procedure.

"Our data set has 275,000 surgical procedures that we can use to look for patterns, and then use that to understand how a patient may react to going through that surgical procedure and that's a very valuable input to surgeons," Havelka tells InnovationMap. Patient outcome risks include mortality, stroke, prolonged ventilation, infection, re-operation, and prolonged hospitalization.

"The innovation is the ability to use artificial intelligence to augment the capabilities of the physician and flag diagnostics for them to consider," says Havelka. "For example, one of our image classifiers that reads three-dimensional CT head scans has the equivalent of thirty lifetimes of an ENT contained in the AI labeled training dataset. It would take thirty lifetimes of an ENT to see that same number of scans and associated disease state patterns. InformAI currently has 10 full-time employees and works with radiologists-in-residence in building solutions and conducting research. The startup partners with the Texas Medical Center, Nvidia, Amazon, and Microsoft.

"They're quite interested in what we've built because it's really cutting edge technology that we're doing," Havelka tells InnovationMap.

Havelka and his team also work with some of the largest physician groups and imaging companies in the country to build products. "At the end of the day our core competency is the ability to take data, medical images or patient data, and put it into a usable format to assist physicians in making better treatment decisions for patients," says Havelka. "We can flag and detect patterns, disease states, and risk profiles that can improve the decision making of the physicians for the patient.

InformAI has plans to fundraise this year, with a goal of raising $5 million to $6 million in a round.

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Cancer-fighting company based in Houston emerges from stealth and snags $74M in its latest round

fresh funds

A Houston-based clinical-stage biopharmaceutical company has raised millions in its latest round.

Tvardi Therapeutics Inc. closed its $74 million series B funding round led by new investors New York-based Slate Path Capital, Florida-based Palkon Capital, Denver-based ArrowMark Partners, and New York-based 683 Capital, with continued support and participation by existing investors, including Houston-based Sporos Bioventures.

"We are thrilled to move out of stealth mode and partner with this lineup of long-term institutional investors," says Imran Alibhai, CEO at Tvardi. "With this financing we are positioned to advance the clinical development of our small molecule inhibitors of STAT3 into mid-stage trials as well as grow our team."

Through Slate Path Capital's investment, Jamie McNab, partner at the firm, will join Tvardi's board of directors.

"Tvardi is the leader in the field of STAT3 biology and has compelling proof of concept clinical data," McNab says in the release. "I look forward to partnering with the management team to advance Tvardi's mission to develop a new class of breakthrough medicines for cancer, chronic inflammation, and fibrosis."

Tvardi's latest fundraise will go toward supporting the company's products in their mid-stage trials for cancer and fibrosis. According to the release, Tvardi's lead product, TTI-101, is being studied in a Phase 1 trial of patients with advanced solid tumors who have failed all lines of therapy. So far, the drug has been well-received and shown multiple durable radiographic objective responses in the cancer patients treated.

Dr. Keith Flaherty, who is a member of Tvardi's scientific advisory board and professor of medicine at Harvard Medical School, offered his support of the company.

"STAT3 is a compelling and validated target. Beyond its clinical activity, Tvardi's lead molecule, TTI-101, has demonstrated direct downregulation of STAT3 in patients," he says in the release. "As a physician, I am eager to see the potential of Tvardi's molecules in diseases of high unmet medical need where STAT3 is a key driver."

Networking with high-status colleagues isn't successful across industries, per Rice University research

houston voices

In a timeless scene from the mockumentary "This Is Spinal Tap," an 80s metal band swaggers in for a performance only to find they're billed second to a puppet show. Though the film is farce, real musicians often come to question the value of playing second fiddle to anyone – even an A-lister.

Now research by Rice Business professor Alessandro Piazza and colleagues Damon J. Phillips and Fabrizio Castellucci confirms those musicians are right to wonder. In fact, they discovered, the only thing worse than performing after a puppet may be opening up for an idol. Bands that consistently open up for groups with higher status, the researchers found, earn less money – and are more likely to break up than those that don't.

"Three cheers," The Economist wrote about the researchers, for confirming "what many people in the music industry have long suspected – that being the opening band for a big star is not a first class ticket to success."

While the findings may be intuitive for seasoned musicians, they fly in the face of existing business research. Most research about affiliations concludes that hobnobbing with high-status colleagues gives lowly newcomers a boost. Because affiliations give access to resources and information, the reasoning goes, it's linked with individual- and firm-level successes such as landing jobs and starting new ventures.

Both individuals and organizations, one influential study notes, benefit from the "sum of the resources, actual or virtual, that accrue to an individual or group by virtue of possessing a durable network of more or less institutionalized relationships."

That's largely because in many fields up and comers must fight to be taken seriously – or noticed at all. This problem is often called "the liability of newness:" In order to succeed, industry newcomers first need to be considered legitimate by the audience they're trying to woo.

Showing off shiny friends is a classic solution. In many fields, after all, linking oneself with a high-status partner is simply good branding: a shorthand signal to audiences or consumers that if a top dog has given their approval, the newcomer must surely have some of the same excellent qualities.

Unfortunately, this doesn't always hold true – especially in the creative world, Piazza's team found. In the frantic world of haute cuisine, for example, a faithful apprentice to a celebrity chef may actually suffer for all those burns and cuts in the star's hectic kitchen. Unless they can create meals that are not just spectacular, but show off a distinct style, consumers may sneer at the newcomer as a knockoff of the true master.

So what determines if reflected glory makes newcomers shine or merely eclipses them? It has to do with how much attention there is to go around, Piazza said. While partnering with a star helps in some fields, it can be a liability when success depends on interaction between audience and performer. That's because our attention – that is, ability to mentally focus on a specific subject – is finite. Consumers can only take in so much at a time.

Marketers are acutely aware of this scarcity. Much of their time, after all, is spent battling for consumer attention in an environment swamped by competitors. The more rivals for advertising attention, research shows, the less a consumer will recall of any one ad. In the world of finance, publicly traded companies also live and die on attention, in the form of analyst coverage of their stocks and angel investors' largesse.

Musicians who perform live, Piazza said, are battling for attention in a field that's gotten progressively more fierce, due to lower album sales and shorter career spans. Performing in the orbit of a major distraction such as Taylor Swift or Beyoncé, however, only reduces the attention the opening act gets, the researchers found. Though performances are just a few hours, the attention drain can do lasting harm both to revenue and career longevity.

To reach these conclusions, the researchers analyzed data about the live performances and careers of 1,385 new bands between 2000 and 2005. Supplementing this with biographical and genre information about each band along with musician interviews, the team then analyzed the concert revenue and artistic survival of each band.

They discovered that in live music, high status affiliation onstage clearly diluted audience attention to newcomers – translating into less revenue and lower chance of survival.

In part, the revenue loss also stems from the fact that even in big stadium performances, performing with superstars rarely enriches the underdogs. According to a 2014 Billboard magazine report, headliners in the U.S. typically absorb 30 to 40 percent of gross event revenues; intermediate acts garner 20 to 30 percent and opening acts for established artists bring as little as $15,000.

The findings were surprising, and perhaps dispiriting, enough for the researchers to carefully spell out their scope. Affiliation's positive effects, they said, are most often found in environments of collaboration and learning – for example academia. In these settings, a superstar not only can bestow a halo effect, but can share actual resources or information. In the music world, however, the fleeting nature of a shared performance makes it hard for a superstar band to share much with a lower-ranked band except, perhaps, some euphoric memories.

Interestingly, in many businesses it's easy for observers to quickly assume affiliations between disparate groups. In the investment banking industry, for instance, research shows that audiences infer status hierarchies among banks merely by reading "tombstone advertisements," the announcements of security offerings in major business publications. Readers assume underwriting banks to be affiliated with each other when they're listed as being part of the same syndicate – even if the banks actually have little to do with each other beyond pooling capital in the same deal.

In the music business, star affiliations mainly help an opening act a) if the audience understands there's an affiliation and b) if they believe the link is intentional. But that's not always the case because promoters and others in Big Music often line up opening bands. When possible, though, A-listers can do their opening acts a solid by making it clear that they've chosen them to perform there.

Otherwise, Piazza and his colleagues concluded, the light shed by musical supernovas typically gets lost in the darkened stadium. For the long term, business-minded bands may do best by working with peers in more modest venues – places where the attention they do get, like in Spinal Tap's classic metric, goes all the way up to 11.

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This article originally ran on Rice Business Wisdom and is based on research from Alessandro Piazza, an assistant professor of strategic management at Jones Graduate School of Business at Rice University.

Houston data management company closes $18M in fresh funding

money moves

A Houston company that's created a centralized log management solution has closed a new round in funding.

Graylog closed its $18 million growth equity round led by Richmond, Virginia-based Harbert Growth Partners, a new investor, and Minneapolis, Minnesota-based Piper Sandler Merchant Banking, the company announced today. The round also received contribution from existing investors Houston-based Mercury Fund and Integr8d Capital, as well as Germany-based HTGF.

"This investment will enable us to accelerate our global go-to-market strategies and enhancements to the award-winning solutions we deliver for IT, DevOps, and Security teams," says Andy Grolnick, CEO of Graylog, in a press release. "We're excited to have the support of new and existing investor partners to help us realize our potential."

Andy Grolnick is CEO of Graylog. Photo courtesy

Per the release, the funds will go toward growing the company's platform that allows its users the ability to capture, store, and enable real-time analysis of terabytes of machine data.

"Graylog is well-positioned to be a long-term winner in the rapidly growing market for log management and analysis solutions," says Brian Carney, general partner of Harbert Growth Partners, in the release. "With its focus on delivering a superior analyst experience coupled with a vibrant Open Source community, the company provides customers a compelling alternative to other log management solutions plagued with high complexity and high total cost of ownership (TCO). We are thrilled to partner with the Graylog team to leverage the significant opportunity that lies ahead for the company."

Over the past year, despite the challenging business climate, the company saw growth in business and even expanded its European operations, according to the release.

"As a long-standing customer, Graylog is strategic to our success. We are excited to see new investment that will enable the company to accelerate innovation and continue to deliver excellent log management and SIEM solutions," says Rob Reiner, CTO of PROS, in the release.