Liu Idea Lab's Carol Tyger shares her experience on product managing for a tech startup. Getty Images

Consider planning a wedding. An impossible task of delivering a grand, completely personal event for all sorts of guests at a minimal cost.

At first, my fiance and I were freaking out because we heard that wedding planning is full of hidden costs and impossible expectations. But then the light bulb went off: that sounds a lot like my job as a product manager (PM). I can be the PM of my own wedding! I knew I wanted to provide a kick-ass party (great experience) for every guest (users) with limited resources (efficiently maximizing value).

Relying on my product manager skills, my fiancé and I started off by considering our goals and removing assumptions. I even conducted some user interviews by asking my friends what they value in weddings. Then we defined the "Wedding Minimum Viable Product (MVP)" and organized ourselves like a software team with a backlog and kanban board.

In the end, the wedding was a huge success. It felt just like a major software product release…from the planning to the execution. Product management is all about making a great user experience, maximizing value and working efficiently. In other words, it is a foundation for getting things done that can be applied to almost any situation.

Ultimately, as a product manager, you build an entrepreneurial mindset that can be applied to any future role. At the bare minimum, the PM is responsible for providing detailed requests for the tech team to build. But to be a great PM, it takes a lot more.

You rely on empathy. Product managers are the voice of the user for both the business and the tech team. To understand the user, you conduct user interviews, gather market analysis and collaborate with internal groups – exploring all corners of the organization – to determine user needs. Skilled product managers don't directly ask users what they want, but instead, understand through observation. You will be using various types of user data before and after software releases to forecast and measure the impact of innovations made.

You strengthen soft skills. It doesn't matter how technical you are if you don't have good rapport within the organization. The basics begin with communicating effectively, remaining flexible, acknowledging bad decisions and being comfortable with the unknown. The best product managers have built enough trust throughout the organization to lead at a senior level despite not having direct authority.

You strategize. You must understand the users, software cycle, and business needs well enough to plan months – even years – ahead while listening to and setting expectations with everyone involved. You will be blazing trails and solving new problems. The company will rely on you to operate with integrity while continuously innovating. Your entrepreneurial mindset will make setting the strategy second nature.

The entrepreneurial mindset and product management responsibilities hone skills that are not only transferable to future roles, but to your life in general. Whether you are preparing for a major software release or planning a fantastic party, your entrepreneurial mindset and product management skills will help you succeed.

------

Carol Tyger is Lilie's product management expert-in-residence and was head of product at Spruce, a Houston-founded managed marketplace for apartment residents to book services such as housekeeping.

This article originally appeared on Liu Idea Lab for Innovation & Entrepreneurship's blog.

Ope Amosu, a Rice University MBA grad, practiced a lot of lean startup techniques when starting his restaurant business, ChòpnBlọk. Photo via Instagram

Here's what lean startup tips founders can learn from this Houston restaurateur and Rice University MBA

Houston voices

It was one of those toasty, 95-degree evenings in late September in Houston, and we were clinking our craft cocktails to a full house at ChòpnBlọk's latest pop up concept – the fifth restaurant takeover in his series. I don't know what was hotter… outside, the vibe, or the spice in the ata rodo (scotch bonnet) maple syrup our plantain pancakes were lathered in. But one thing is for sure, as he prepares to open a brick and mortar location in 2020, Ope Amosu, a Rice University MBA graduate and the founder of ChòpnBlọk, is proving himself to be a mean, lean (startup) machine.

After getting his MBA from Rice Business in 2014, he began traveling extensively for work and was frustrated with his inability to easily access authentic West African cuisine in Houston and beyond. He was able to conveniently experience other cultures through successful restaurant concepts, but not his own. So in order to see if he had what it take to bring high quality, convenient West African inspired cuisine to Texas, he did what every MBA graduate dreams of: he rolled up his sleeves and secured a part-time job working the line at Chipotle.

Chipotle taught Ope the art of restaurant operations, and he made money learning it. Pulling together his lessons learned, he began building out his business plan. He identified a large West African population in Houston that was being under-served and was confident in his ability to address this market gap with his fast-casual concept. From his time working with various engineering groups, he knew that he needed to test his idea early so he could fail early and fail fast without breaking the bank.

This led to the inception of ChòpnBlọk. Ope knew acquiring a food truck would be too timely and too expensive, so he went a more creative, cost–effective route. He began hosting private dinners where his guests experienced a multi-course dining program rich with West African flavor.

Those full and happy guests unknowingly were participating in a fun focus group. He leveraged these dinners to collect data from each diner. What did they recommend he charge per meal? Did they like what they were eating? What was their current dining out behaviors? After hosting over ten smaller private dinners, he had collected valuable pieces of information that would inform his business plan including:

  1. He had market data from over 200 diners.
  2. He proved that there was an appetite for West African cuisine in Houston. His fears that the common stigmas about African culture would hinder his growth seemed unfounded.
  3. He quickly optimized operational efficiency in feeding his guests.

Having validated customer demand, honed in on customer preferences, and demonstrated that the market opportunity he believed existed could be captured, all without taking on investors, it was time to take the next step. ChòpnBlọk began efforts to scale, finding a way to re-engage customers who were hungry for more.

This is how the pop-up experiences came to life. With his restaurant takeovers, Ope is able to serve well over 100 paying customers per dinner and gain all the operational know-how that goes along with such an affair. In a risk-free environment, he gets to test various creative concepts and fine-tune logistics…all with almost zero overhead and very minimal risk.

You can probably guess what is next. It should come as no surprise that ChòpnBlọk has been approached by funders and developers to launch a brick and mortar location for 2020. With hundreds of paying customers, a net promoter score staying high at 9/10, and an entrepreneur's tenacity like his, I have a feeling ChòpnBlọk will be coming for Chipotle in just a matter of time.

Want to learn more? Visit their website and follow them on Instagram.

------

Caitlin Bolanos is the senior associate director at the Liu Idea Lab for Innovation & Entrepreneurship.

This article originally appeared on Liu Idea Lab for Innovation & Entrepreneurship's blog.

While everyone always looks to Silicon Valley as the model of the ideal startup ecosystem, Houston is forging its own path. Getty Images

Houston isn't Silicon Valley — and that's a good thing, according to these experts

Houston Voices

As WeWork's fall from grace continues to dominate the headlines and we monitor the slew of layoffs and dipping share prices afflicting this year's Silicon Valley darlings, we reflect on Houston's own startup ecosystem. How are Houston startups and investors similar to and different from Silicon Valley early-stage deals? What are the drivers and factors that may be unique to Houston and how do they influence outcomes?

Jamie Jones, executive director of Lilie, sat down with early stage investor and Rice Business alum, Dougal Cameron of Golden Section Technology Venture Capital (GSTVC), to discuss the Houston startup and funding ecosystem. From that discussion, a number of key features emerged:

From Cameron's experience, Houston investors have historically focused on unit economics and profitability, in addition to top line growth, as their key performance measures. As an enterprise software investor, he notes that an indicator of a healthy venture that warrants early stage investment is one where profitability can be achieved as the venture reaches the $1 million revenue mark. Cameron, like other early stage investors in Houston, are interested in ventures that produce sustainable growth not only growth for growth's sake.

While early stage investment capital in Houston does flow, it does not do so at the same check sizes and the same velocity that you may see in Silicon Valley. Analysis of Pitchbook data indicates that Houston firms raised $28.1M in seed and early-stage funding in Q3 2019 versus $2.86B for Silicon Valley based ventures. The belief is that the density of the capital network in Silicon Valley means that if you get one $500,000 check then you will very likely to get others. Cameron noted that he believes the effects of loss aversion are on full display — no firm wants to be the one that passes on the next Google.

However, in Houston, entrepreneurs must be scrappy to pull together funding and ensuring they hit milestones along the way in order to drive scarcer investment into their ventures. From Cameron's perspective, Houston entrepreneurs own their cash balance and strive to keep their overhead low by working out of cheaper spaces, leveraging friends and family to contribute to the venture in its early days, etc.

With fewer investment dollars flowing in Houston, the use of Simple Agreements for Future Equity (SAFEs), which are common in Silicon Valley, are rarely used in Houston. Why? Cameron believes that using unpriced and loosely binding agreements may work in an ecosystem where startups are pushed for rapid top-line growth and may be burning through tens-of-thousands of dollars per month and will need to raise capital quickly, which will drive a pricing event. However, in Houston, investors may prefer arrangements that provide some downside risk.

Examples include convertible notes that include a lien on assets, which would be virtually unheard of in Silicon Valley, or through priced fundraising rounds. Without broad and deep capital networks and the pressure of rapid top-line growth, near term pricing events are not guaranteed, pushing Houston investors to prefer other deal structures.

While everyone agrees that Houston and the robust startup ecosystem that is growing across the city needs more cash to catalyze growth, Cameron firmly believes that new capital coming into the city must be the right type of capital. Capital that will not negatively distort the ecosystem by driving early-stage entrepreneurs to strive for top-line growth that is not sustainable through a profitable business model. This type of capital will not offer exorbitantly-sized seed rounds removing the entrepreneur's need to be scrappy and cost conscious.

We must understand that many Houston entrepreneurs seek to build businesses that have lasting impact and are not only "growing to close," the model Silicon Valley seems to have embraced over the past 7 to 10 years. Cameron is nervous that first big checks that come from outside Houston will push unprofitable businesses forward and will sour the market for local investors that are starting to engage in startup-investing.

While everyone always looks to Silicon Valley as the model of the ideal startup ecosystem, Houston may offer a look into the model of the future — one that is focused on building durable, profitable businesses by right-sizing growth over the venture's life-cycle. For Houston-based entrepreneurs, this means the opportunity to access capital that emphasizes sustainable, smart growth.

------

Jamie Jones, executive director of the Liu Idea Lab for Innovation & Entrepreneurship at Rice University, and Dougal Cameron, managing director of Gold Section Technology Ventures and 2013 Rice Business alum, wrote this article for LILIE.

This article originally appeared on Liu Idea Lab for Innovation & Entrepreneurship's blog.

Check out these panels, networking meetups, and more. Getty Images

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

Where to be

Despite the short month, Houston will play host to tons of innovation networking, panel, and meetup events throughout the month of February. And, it's a leap year, so take that as an opportunity to jump into the startup ecosystim in town.

If you know of innovation-focused events for this month or next, email me at natalie@innovationmap.com with the details and subscribe to our daily newsletter that sends fresh stories straight to your inboxes every morning.

February 4 — How AI Can Boost Your Business with Ryan Shirzadi of Tekrevol

How can artificial intelligence help grow your business? Specifically, Ryan Shirzadi of Tekrevol will be covering the social impacts, industries affected, why you need an AI strategy, and how AI can help small businesses grow. Networking will follow the discussion and pizza will be provided by Tekrevol.

Details: The event is from 6 to 7:30 pm on Tuesday, February 4, at Station Houston (1301 Fannin Street, Suite 2440). Learn more.

February 5 — Meet and Greet with Pat Matthews, CEO & Founder of Active Capital

Meet Active Capital's founder and CEO, Pat Matthews. Rakesh Agrawal, founder and CEO of Snapstream, will interview Matthews followed up by an open Q&A and conversation with the audience.

Details: The event is from 5:30 to 6:45 pm on Wednesday, February 5, at WeWork (708 Main Street, 3rd Floor). Learn more.

February 5 — Houston Social Entrepreneurship Meetup

The meetup brings together like-minded individuals from the nonprofit, social enterprise, impact investing, technology and many other fields to understand the concept of social entrepreneurship and be inspired to find new ways to tackle local social issues. At each meetup, you'll get an intro to social entrepreneurship, hear from a social entrepreneur in Houston, and network with other changemakers from across the entrepreneur ecosystem.

Details: The event is from 5:30 to 7:30 pm on Wednesday, February 5, at Impact Hub Houston @ The Cannon Downtown (1801 Main St., 13th Floor). Learn more.

February 6 — Fail Forward presented by Frost Bank

Join BakerRipley and Frost Bank for an evening of #FailForward fun and get real, behind-the-scenes stories straight from entrepreneurs on the challenges they faced trying to access and raise funding for their small business or startups.

Details: The event is from 6 to 8 pm on Thursday, February 6, at BakerRipley Center (4450 Harrisburg Blvd.). Learn more.

February 12 — The Impact of AI on Automation and the Future of the Workforce

Technology and innovation are rapidly changing how we do and think about work. This panel event seeks to bring together respected leaders in the corporate and entrepreneurial worlds to have meaningful conversations on AI, automation and the future of workforce.

Details: The event is from 6:30 to 9 pm on Wednesday, February 12, at GA Houston (1301 Fannin St, Floor 21). Learn more.

February 13 — Female Founders Breakfast with Baker Botts and The Artemis Fund

Baker Botts L.L.P. and The Artemis Fund have come together to bring you a breakfast panel discussion on how a good corporate governance system and a little corporate housekeeping can avoid larger messes down the road.

Details: The event is from 8:30 to 10:30 am on Thursday, February 13, at Baker Botts (910 Louisiana St., 32nd Floor). Learn more.

February 18 — How She Got There: Women Leaders in Tech

Join General Assembly for an evening good conversation with a panel of females in tech. These inspirational women will share their stories on how they got to where they are today and share their insights into being a woman in business and tech.

Details: The event is from 6:30 to 9 pm on Tuesday, February 18, at GA Houston (1301 Fannin St, Floor 21). Learn more.

February 19 — Houston Angel Summit

Join the Houston Angel Network for its bi-annual summit. Attendees will learn the basics of angel investing as well as hear from experts on the topics of term sheets and tax implication of early stage investing. This event is open to accredited investors, HAN members and individuals from our partnership organizations. The price of attendance — $100 — will be applied to annual membership if attendees decide to join the Houston Angel Network.

Details: The event is from 9 am to 3 pm on Wednesday, February 19, at Liu Idea Lab for Innovation and Entrepreneurship (Cambridge Building at Rice University). Learn more.

February 20 — The Five W's of Holding Your First, First-in-Human Trial

Who, what, when, where and why to hold your first, first-in-human clinical trial? JLABS has tapped into experts in the field from Johnson & Johnson, CROs and agencies to help you answer these questions and more.

Details: The event is from 11:30 am to 2 pm on Thursday, February 20, at JLABS @ TMC (2450 Holcombe Blvd.). Learn more.

February 20 — Bunker Brews Houston: How to be Mentored in Your Business

Lots of entrepreneurs fail to seek out mentors, and struggle in silence and isolation because of it. Some will find great mentors, but fail to recognize the unspoken rules of the road to acquire, activate, and maintain a mentor-mentee relationship. Hear from some great local mentors of business owners.

Details: The event is from 6 to 8 pm on Thursday, February 20, at MassChallenge (1313 Main St., Suite 210). Learn more.

February 20 — Rising Stars in Houston Health Tech

Join General Assembly for an epic night with some of the Houston's most inspiring healthtech founders and leaders. In a candid discussion, they'll share their stories and insights.

Details: The event is from 6:30 to 9 pm on Thursday, February 20, at GA Houston (1301 Fannin St, Floor 21). Learn more.

February 24 — Made in Houston: Celebrating Black History Month

In honor of Black History Month, General Assembly has organized an evening with some of Houston's legendary innovators and creators. Each speaker will share their tips and tricks on how to create a unique product, service or brand that's pushing the boundaries while sharing their journey.

Details: The event is from 6:30 to 9 pm on Monday, February 24, at GA Houston (1301 Fannin St, Floor 21). Learn more.

February 25 — The Cannon Lunch & Learn: Show me the Money

As an early stage company, raising capital is or will be a significant part of your efforts and can present major challenges. Preparation and an understanding of what drives value is crucial to attracting investors. Join Cannon partner, Baker Tilly, as they provide an overview of the capital raise process and highlight key factors to consider when preparing to raise capital.

Details: The event is from 11:30 am to 1 pm on Tuesday, February 25, at The Cannon (1334 Brittmoore Road). Learn more.

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

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

Where to be

The busy fall event season is kicking off this month with tons of Houston innovation pitch events, educational panels, and networking opportunities.

If you know of innovation-focused events for this month or next, email me at natalie@innovationmap.com with the details and subscribe to our daily newsletter that sends fresh stories straight to your inboxes every morning.


September 5 — MassChallenge Texas in Houston Finale and Startup Showcase

The top startups from the inaugural MassChallenge Texas cohort in Houston will be recognized by community leaders to a room full of potential investors and customers, MassChallenge mentors, VIP community leaders, and their loved ones.

Details: The event is from 6 to 8 pm on Thursday, September 5, at House of Blues Houston (1204 Caroline St.). Learn more.

September 5 — Frost Bank: Fail Forward Series

Join Impact Hub Houston for an evening of #FailForward — behind-the-scenes stories straight from entrepreneurs on the challenges they faced trying to access and raise funding for their small business or startups. And, learn from bankers and financial experts what those entrepreneurs could have done to make their journey easier and more successful.

Details: The event is from 6 to 8 pm on Thursday, September 5, at BakerRipley Leonel Castillo Community Center (2101 South Street). Learn more.

September 6 — Finding your Product-Market fit via the W3 method

Amos Schwartzfarb, Author of Sell More Faster - The Ultimate Sales Playbook for Startups and Managing Director of Techstars Austin will deliver a hands-on workshop for founders (seed through Series A) that will enable you to identify the path to achieving product-market fit. Included in the $25 workshop is a signed copy of Sell More Faster.

Details: The event is from 11 am to 12:30 pm on Friday, September 6, at WeWork Labs (708 Main St., 3rd floor). Learn more.

September 10 — Founder Institute's inaugural cohort graduation showcase

The fresh (and first) graduates of the Founder Institute in Houston are celebrating the completion of their program. The graduation celebration will consist of a leadership focused commencement speech, hearing from the graduates (remarks and pitch), and showcase where each company will have a display table and be able to be speak one-on-one.

Details: The event is from 6 to 9 pm on Tuesday, September 10, at Station Houston (1301 Fannin Street, #2440). Learn more.

September 11 — Energy and Clean Technology Venture Forum XVII

The Rice Alliance's Energy and Clean Technology Venture Forum is the largest energy and clean technology venture capital conference in the U.S. open, to all emerging energy technology companies (both traditional energy and alternative energy).

Details: The event is from 8:30 am to 5 pm on Wednesday, September 11, at Jones Graduate School of Business (Rice University, 1900 Rice Blvd.). Learn more.

September 12 — HX Capital Summit 2019: Presented by JPMorgan Chase

Join Houston Exponential for its 2nd Annual Capital Summit, which will focus on the latest activity amongst Houston investments. This one-day event will highlight panel discussions from all aspects of Houston's innovation scene.

Details: The event is from 7:30 am to 3 pm on Thursday, September 12, at the Shell Auditorium (Rice University). Learn more.

September 12 — Cooley x JLABS @ TMC: Medtech Startup Fundamentals

Join Cooley, JLABS, and TMC Innovation for a half-day seminar gathering leading executives, investors, entrepreneurs, and thought leaders in the medical technology industry. Speakers will explore market trends and share strategies on how to position your startup for growth and success.

Details: The event is from 12:30 to 5:30 pm on Thursday, September 12, at the JLABS @ TMC (2450 Holcombe Blvd). Learn more.

September 17 — Raising Capital with Investment Crowdfunding

Station Houston, NextSeed, and the Greater Houston Black Chamber of Commerce are putting on a discussion about fundraising online.

Details: The event is from 11:30 am to 1:30 pm on Tuesday, September 17, at Station Houston (1301 Fannin Street, #2440). Learn more.

September 19 — The Cannon Grand Opening

The Cannon, an entrepreneurial hub in West Houston, is celebrating its new digs. Join the party to learn about coworking at The Cannon, to network with Houston's innovation ecosystem, and more.

Details: The event is from 4 to 9 pm on Thursday, September 19, at The Cannon (1336 Brittmoore Road). Invite only.

September 19 — JLABS x UH: Startup Pains: From Academia to Startup

JLABS and the University of Houston Technology Bridge present a special installment of the university's monthly Startup Pains. This month the focus is on licensing and technology transfer.

Details: The event is from 5:30 to 7 pm on Thursday, September 19, at the JLABS @ TMC (2450 Holcombe Blvd). Learn more.

September 24 — The Future of Payments: How Fintech, Crypto, and Blockchain are Transforming E-Commerce

The global economy is powered by 125 million business and payments between those businesses transacted over a variety of technologies. In the US, $2 trillion of the $58 trillion in payments generated by small business are "other" — new digital payment technologies including cryptocurrency and blockchain created by fintechs, banks and large players like Facebook and JP Morgan. Over time, the remaining $56 trillion will shift from paper checks to more digital forms. A change in the payments landscape is imminent, and in many ways, the US is behind in digital acceptance. What will this change look like? Join Vinay Pai, senior vice president of engineering at Bill.com, as he discusses.

Details: The event is from 4 to 5 pm on Tuesday, September 24, at Duncan Hall (Rice University). Learn more.

September 24 — The Eco-System of the Language Industry: Panel and Networking Event

Introducing the first Women in Localization Texas Chapter Houston Event. Winnie Heh, associate chapter manger - mentoring for the Silicon Valley Chapter, and Middlebury Institute of International Studies Career Advisor, Translation, Interpretation & Localization Management, will be presenting on importance of localization and various localization job functions available in our rapidly globalized world.

Details: The event is from 6 to 8 pm on Tuesday, September 24, at Station Houston (1301 Fannin Street, #2440). Learn more.

September 24 & 25 — Innovation Engineering Quick Start Class

Bruce G. Hall, CEO and president of eureka! inventing is teaching an abridged version of his innovation engineering course that's offered at the University of Houston. InnovationMap readers can get half off by registering through this link.

Details: The course is on either Tuesday, September 24, or Wednesday, September 25, at Energy Corridor Marriott (16011 Katy Fwy).Learn more.

September 25 — Third Coast Innovators Mixer

Calling all innovators and entrepreneurs in the Third Coast. JLABS @ TMC is hosting a networking event with fellow innovators and entrepreneurs in the ecosystem as well as current JLABS residents and the JLABS @ TMC team.

Details: The event is from 5 to 7 pm on Wednesday, September 25, at the JLABS @ TMC (2450 Holcombe Blvd). Learn more.

September 25 — Energy Tech Night

Energy Tech Night offers insights from energy digitalization/innovation/emerging tech experts and rapid-fire pitches from the cutting edge in startups offering solutions for the energy challenges of today & tomorrow.

Details: The event is from 6:30 to 8:30 pm on Wednesday, September 25, at Saint Arnold Brewery (2000 Lyons Ave) Learn More

Life Time Work opening its first Houston location is among this roundup of Houston innovation news. Courtesy of Life Time Work

Hypergiant receives funding from Japan, UH honored for entrepreneur program, coworking space opens, and more Houston innovation news

Short stories

In the Houston innovation news cycle, it's hard to keep up. Three higher education institutions are celebrating big wins within innovation and entrepreneurialism, a new coworking space joins the scene, and a health tech competition launches out of the Texas Medical Center.

Here are all the short stories within Houston innovation that you may have missed.

Texas AI company makes international partnership

Photo via hypergiant.com

Hypergiant Industries, a Texas industrial AI company with a presence in Houston, announced that it has received funding from and has entered into a partnership with Japan-based Sumitomo Corporation of Americas. The relationship will allow the company to enable and accelerate Hypergiant's AI-driven innovation initiatives across over 900 Sumitomo subsidiaries and associated companies.

"We're proud to be backed by a global leader like SCOA," says Ben Lamm, CEO and co-founder of Hypergiant, in a release. "SCOA is a company that has advanced so many industries with critical technological breakthroughs decade after decade. This relationship will ensure that both SCOA and Hypergiant remain ahead of the competition in AI for years to come."

The funding amount wasn't disclosed.

Bauer College of Business gets top marks

Photo via bauerticker.uh.edu

The Deshpande Foundation has selected The University of Houston for its 2019 Entrepreneurial University Award, recognizing the Cyvia and Melvyn Wolff Center for Entrepreneurship at the C.T. Bauer College of Business.

"Over the past decade, the Wolff Center's reputation as one of the nation's leading entrepreneurship programs has grown tremendously, and this award from the Deshpande Foundation reinforces that Bauer College is empowering students to innovate through a world-class program that emphasizes experiential learning and personalized attention by dedicated mentors," says Paul A. Pavlou, incoming dean of the Bauer College, in a release.

The award was announced by the Massachusetts-based organization at the Deshpande Symposium for Innovation and Entrepreneurship in Higher Education at the University of Massachusetts Lowell on June 11.

Life Time Work opens its doors

Courtesy of Life Time Work

Life Time Work's first Houston-area location has opened its doors in City Centre Five at 825 Town & Country Lane. The next location has already been announced to open in downtown Houston next year.

"Life Time Work is a natural extension of the lifestyle brand we have built in our athletic resorts over the past 27 years," says Life Time Work president, James O'Reilly, in a release. "With Houston's continued growth and diversified business and entrepreneurial community, City Centre is the perfect location for us to unveil this concept. We look forward to helping our members in their pursuit of a fulfilling and healthy work life."

The 25,000-square-foot space features 79 desks, 48 offices, lounge spaces, eight phone booths, two phone rooms, five conference rooms, and more features.

JLABS @ TMC opens contest for health care startups

Photo via jlabs.jnjinnovation.com

Johnson & Johnson Innovation, the Texas Medical Center, and AngelMD have teamed up to launch the Breakthrough Medical Technologies QuickFire Challenge, which is looking for game-changing medical device ideas from all over the world for a chance to win prizes.

The winner — or winners — will "receive up to $250,000 in convertible notes funding from TMC, entry to the TMCx accelerator program, one year of residency at JLABS @ TMC in Houston, Texas, and access to the Johnson & Johnson, Innovation - JLABS global ecosystem," according to the website. Also on the line — an additional convertible note investment up to $100,000 from AngelMD's Catalyst Fund.

The competition is looking for innovations within a wide range of health technologies, from oncology to 3D printing.

Houston hospital ranks No. 1 in the state for being one of America's Best Employers

Courtesy of Methodist Hospital/Facebook

Forbes partnered with market research company Statista to identify the best employers in each state. In Texas, Houston was represented at the top. Houston Methodist ranked as the number one company on the Texas list.

Royal Dutch Shell, which ranks at No. 11, is the next Houston-headquartered company on the list, followed by The University of Texas Health Science Center at Houston (No. 19), Katy Independent School District (No. 22), and Texas Children's Hospital (No. 23.)

HCC recognized for innovation of the year

Photo courtesy of HCC

Houston Community College received the Innovation of the Year Award from the League for Innovation in the Community College. HCC won for its Zero Textbook Degree initiative, which launched in 2017 and has grown from 28 to 98 sections across five HCC campuses.

"The Z-Degree program is managed by an entire group of hardworking and forward-thinking HCC faculty who are all deserving of the accolades currently bestowed on them," says Chancellor Cesar Maldonado in a news release.

Textbook prices have increased 88 percent since 2006, according to the Bureau of Labor Statistics, and, according to the release, textbooks could end up costing some HCC students more than their tuition.

Rice University hosts inaugural program for future entrepreneurs

Photo courtesy of Lilie



Rice's Liu Idea Lab for Innovation and Entrepreneurship got a jump on molding its young minds. Lilie hosted 44 incoming freshmen as a part of its inaugural Lilie Change Maker Summit. For four days, the to-be students had the opportunity to get get a taste of the program and entrepreneurialism through workshops, guest speakers, and more.

The summit was led by Jamie Jones, executive director of Lilie, and Hesam Panahi, lecturer in entrepreneurship at Rice's Jones Graduate School of Business and a faculty member at Lilie.

"We truly believe this will be a game changer in the Rice entrepreneurial ecosystem," says Caitlin Bolanos, associate director at Lilie, in an email to InnovationMap. "We were able to connect with these students and build loyalty before they even officially started in the fall, and the students are so pumped to have found each other and to continue working on their ideas while at Rice."

Ad Placement 300x100
Ad Placement 300x600

CultureMap Emails are Awesome

Innovative Texas-based ride-share rolls into Houston with new cars and delivery service

Alto is a go

Houstonians who are interested in an alternative to Uber — and don't mind giving a Dallas-based company a shot — can now look for a new ride. Alto, the ride-share and delivery company based in Big D, has announced its expansion plans to Houston. The company is now offering pre-scheduled rides; Houston residents will be able to book on-demand rides starting October 1, according to a press release.

As CultureMap previously reported, Alto touts itself as a safer, more consistent approach to hailing a ride. Founded in 2018, Alto brands itself as "the first employee-based, on-demand ride-share company." Employees receive salaries and benefits, each company-owned car is branded with the Alto logo (so riders can be sure they're stepping into the right vehicle), and cloud-based cameras capture both interior and exterior videos of the ride.

The company offers ride memberships and also shops, purchases, and delivers from local brands directly to consumers with same-day delivery available.

For safety during the pandemic, all Alto drivers wear masks and gloves during every trip and each Alto vehicle is fitted with a HEPA cabin air filter which removes 99.9 percent of airborne particles, the company claims. Car interiors are also treated with PermaSafe, an EPA-registered hospital-grade sanitizing mist that is said to kill pathogens like COVID-19.

"Alto is thrilled to announce our expansion plans to Houston and offer the same clean, safe ride-share experience that's revolutionizing the industry to this new market," said Will Coleman, founder and CEO of Alto. "We're confident Houston residents will find Alto to be unlike any other ride-share experiences they've had to date, and find comfort in Alto's leading safety and health precautions, as well as elevated rider experience."

Locals who are interested in more information and getting on the Houston launch waitlist can the official site. The Alto app is available for download on the App Store and Google Play.

------

This article originally ran on CultureMap.

3 crisis management tips for Houston business leaders

houston voices

The great pandemic of 2020 has brought to the surface the issue of crisis management. Especially with nationwide business shut downs in the last eight months, many companies are on a rocky road of uncertainty. Entrepreneurs are unsure of what the future holds after seeing revenues slow or halt in some cases. Layoffs, RIFs, budget cuts, departmental downsizing; all inevitable.

Way too many startup founders aren't equipped or experienced when it comes to crisis management. "In order to keep your startup going, you have to know how to identify a crisis before it spreads like a cancer and how to make big changes and big decisions fast and often," says Gael O'Brien, the ethics coach for Entrepreneur.com.

"Any time in which the world stops functioning in a way we're used to, a deviation from the norm, that might be the biggest early sign of a crisis about to rear its head," she continued.

Admitting you have a problem

O'Brien stresses that a leader should create an easy process whereby one can identify a crisis in its infancy. The key here, she says, is to make sure to recognize a crisis before it starts to consume your company. You'll have to learn how to contain the crisis by leading the charge in rapid decision making. Many entrepreneurs simply refuse to admit there's a problem at hand. Many times, admitting there's a crisis means admitting one was wrong. It also means they may have been wrong for years.

These entrepreneurs that refuse admitting there's a crisis often do so with common refrains like "I didn't want to scare anyone" or "if I admit I was wrong this whole time I'll lose respect."

"Great leaders aren't afraid to put their company first, even if it means a blow to the ego. These leaders are not afraid to inform everyone that might be affected know there is a crisis," O'Brien explained.

"They contain the problem and prevent it from becoming unmanageable. Good leaders don't opt for a temporary Band-Aid-like fix either. They aim for a permanent solution."

Casting for a crisis management team

There are two common mistakes startup leaders make when it comes to crisis management. The first is that they can miscast a crisis management team. Meaning, they put the wrong people in decision-making roles. You want people on your crisis management team who are not going to feel they will be blamed for a crisis or for controversial decisions.

When one is afraid of being blamed for something, they are more likely to obstruct and lie so that the team's focus is diverted. "These are people that will omit objective and relevant information if it means saving their own reputation or job. You want people that put the team first," said O'Brien.

Communication during a crisis

The second common mistake startup leaders make during a crisis is that they tend to under-communicate. It becomes habitual to keep things close to the chest. To become secretive during a crisis. Managers might feel that the less people know, the less chance there is of panic. However, doing this opens your company up to wild speculation among employees. Assumptions. And these assumptions are never good.

"You have to be forthright. It's not just that people have a right to know what's going on in their own company. It's also that if you leave yourself up to speculation, people will grow frustrated and worse, scared. Scared people make crises worse," said O'Brien.

------

This article originally appeared on the University of Houston's The Big Idea. Rene Cantu, the author of this piece, is the writer and editor at UH Division of Research.

Cleantech incubator announces location in Houston, names newest partners

Greentown's moving in

After announcing its plans to expand to Houston in June, Boston-based Greentown Labs has selected its site for its cleantech startup and tech incubator.

Houston Mayor Sylvester Turner and the Greater Houston Partnership announced that Greentown Houston will be opening in the Innovation District, being developed by Rice Management Co. and home to The Ion. The site is located at 4200 San Jacinto St., which was Houston's last remaining Fiesta grocery story before it closed in July.

The facility is expected to open this coming spring and will feature 40,000 square feet of prototyping lab, office, and community space that can house about 50 startups, totaling 200 to 300 employees.

"We are thrilled to announce the selection of Greentown Labs' inaugural location in partnership with RMC, the City of Houston, the Partnership, and leading global energy and climate impact-focused companies," says Emily Reichert, CEO of Greentown Labs, in a press release. "In order to meet the urgent challenge of climate change, we must engage the talent and assets of major ecosystems around the country. We look forward to catalyzing the Houston ecosystem's support for climatetech startups as we work together toward a sustainable future for all."

Emily Reichert is the CEO of Greentown Labs. Photo courtesy of Greentown Labs

Greentown Labs launched in 2011 as community of climatetech and cleantech innovators bringing together startups, corporates, investors, policymakers, and more to focus on scaling climate solutions. Greentown Labs' first location is 100,000 square feet and located just outside of Boston in Somerville, Massachusetts. Currently, it's home to more than 100 startups and has supported more than 280 startups since the incubator's founding. According to the release, these startups have created more than 6,500 jobs and raised over $850 million in funding

"We are so pleased that Greentown Houston will locate in the heart of the Innovation District, where they will seamlessly integrate into the region's robust energy innovation ecosystem of major corporate energy R&D centers, corporate venture arms, VC-backed energy startups, and other startup development organizations supporting energy technology," says Susan Davenport, chief economic development officer at the Greater Houston Partnership, in the release. "Houston truly is the hub of the global energy industry, and Greentown Houston will ensure we continue to attract the next generation of energy leaders who will create and scale innovations that will change the world."

Greentown Houston, which previously announced several founding partners in June, has just named new partners, including: RMC, Microsoft, Saint-Gobain, and Direct Energy. According to the release, Greentown Houston is also looking for Grand Opening Partners. Naturgy and and FCC Environmental Services (FCC) are the first to join on as a grand opening partners, and startups and prospective partners can reach out for more information via this form.

Reichert previously told InnovationMap that it was looking for an existing industrial-type building that could be retrofitted to meet the needs of industrial startups that need lab space. She also said that this approach is very similar to how they opened their first location.

Rice Management Company is developing the Innovation District in the center of Houston. Screenshot via ionhouston.com

The new location will be in the 16-acre Innovation District that's being developed by RMC, which will be anchored by The Ion, a 270,000-square-foot hub that is being renovated from the former Sears building.

"What we love about Greentown Labs as much as its commitment to helping Houston become a leader in energy transition and climate change action is its proven track record of job creation through the support of local visionaries and entrepreneurs," says Ryan LeVasseur, managing director of Direct Real Estate at RMC, in the release. "Greentown Houston, like The Ion, is a great catalyst for growing the Innovation District and expanding economic opportunities for all Houstonians. We're thrilled Greentown Labs selected Houston for its first expansion and are honored it will be such a big part of the Innovation District moving forward."

Acquiring the new Greentown location is a big win for the mayor, who released the city's Climate Action Plan earlier this year. The plan lays out a goal to make Houston carbon neutral by 2050.

"We are proud to welcome Greentown Labs to Houston, and we are excited about the new possibilities this expansion will bring to our City's growing innovation ecosystem," says Turner in the release. "Organizations and partners like Greentown Labs will play a vital role in helping our City meet the goals outlined in the Climate Action Plan and will put us on the right track for becoming a leader in the global energy transition. The City of Houston looks forward to witnessing the innovation, growth, and prosperity Greentown Labs will bring to the Energy Capital of the World."

Greentown Labs will host a celebratory networking event on September 24 at 4 p.m. Registration for the EnergyBar is open here.