3 Houston innovators to know this week

who's who

This week's roundup of Houston innovators includes Atul Varadhachary of Fannin, Natasha Gorodetsky of Product Pursuits, and Jay Hartenbach of Diakonos Oncology. Photos courtesy

Editor's note: Every Monday, I'm introducing you to three Houston innovators to know — three individuals behind recent innovation and startup news stories in Houston as reported by InnovationMap. Learn more about them and their recent news below by clicking on each article.

Atul Varadhachary, managing director of Fannin Innovation

Atul Varadhachary of Fannin joins the Houston Innovators Podcast. Photo via LinkedIn

Commercializing a life science innovation that has the potential to enhance or even save the lives of millions of patients is a marathon, not a sprint. That's how Atul Varadhachary thinks of it, and he's leading an organization that's actively running that race for several different early-stage innovations.

For over a decade, Fannin has worked diligently to develop promising life science innovations — that start as just an idea or research subject — by garnering grant funding and using its team of expert product developers to build out the technology or treatment. The model is different from what you'd see at an accelerator or incubator, and it also varies from the path taken by an academic or research institution.

The life science innovation timeline is very different from a software startup's, which can get to an early prototype in less than a year.

"In biotech, to get to that minimally viable product, it can take a decade and tens of millions of dollars," Varadhachary, managing director at Fannin, says on the Houston Innovators Podcast. Read more.

Natasha Gorodetsky, founder and CEO of Product Pursuits

A product management expert shares how artificial intelligence is affecting the process for the tech and startup worlds. Photo via LinkedIn

For over a year, the tech and business community has been obsessing over artificial intelligence. As Natasha Gorodetsky, the Houston-based founder and CEO of Product Pursuits, writes in a guest column about how the product management community is not an exception.

"Product managers — as well as startup founders leading a product function — more than any other role, face a challenge of bringing new life-changing products to market that may or may not be received well by their users," she writes. "A product manager’s goal is complex — bring value, stay ahead of the competition, be innovative. Yet, the "behind the scenes" grind requires endless decision making and trade offs to inspire stakeholders to move forward and deliver."

She continues in her article to outline the trends of AI for product management. Read more.

Jay Hartenbach, COO of Diakonos Oncology

A Houston company with a promising immuno-oncology is one step closer to delivering its cancer-fighting drug to patients who need it. Photo via Diakonos

Diakonos Oncology has recently made major headway with the FDA, including both a fast track and an orphan drug designation. It will soon start a phase 2 trial of its promising cancer fighting innovation.

The therapy catalyzes a natural immune response, it’s the patient’s own body that’s fighting the cancer. Hartenbach credits Decker with the idea of educating dendritic cells to attack cancer, in this case, glioblastoma multiforme (GBM), one of the most aggressive cancers with which doctors and patients are forced to tangle.

“Our bodies are already very good at responding very quickly and aggressively to what it perceives as virally infected cells. And so what Dr. Decker did was basically trick the immune system by infecting these dendritic cells with the cancer specific protein and mRNA,” details COO Jay Hartenbach. Read more.

A product management expert shares how artificial intelligence is affecting the process for the tech and startup worlds. Photo via Getty Images

How AI is changing product management and what you need to know

guest column

For the past 14 months, everyone has been talking about ways artificial intelligence is changing the world, and product management is not an exception. The challenge, as with every new technology, is not only adopting it but understanding what old habits, workflows, and processes are affected by it.

Product managers — as well as startup founders leading a product function — more than any other role, face a challenge of bringing new life-changing products to market that may or may not be received well by their users. A product manager’s goal is complex — bring value, stay ahead of the competition, be innovative. Yet, the "behind the scenes" grind requires endless decision making and trade offs to inspire stakeholders to move forward and deliver.

As we dive into 2024, it is obvious that AI tools do not only transform the way we work but also help product managers create products that exceed customer expectation and drive businesses forward.

Market research and trends analysis

As product managers, we process enormous amounts of market data — from reviewing global and industry trend analysis, to social media posts, predictions, competition, and company goals. AI, however, can now replace hours, if not days, of analyzing massive amounts of data in an instant, revealing market trends, anticipating needs, and foreseeing what's coming next. As a result, it is easier to make effective product decisions and identify new market opportunities.

Competitive analysis

Constantly following competitors, reviewing their new releases, product updates, or monitoring reviews to identify competitor strengths and weaknesses is an overwhelming and time consuming task. With AI, you can quickly analyze competitors’ products, pricing, promotions, and feedback. You can easily compare multiple attributes, including metrics, and identify gaps and areas for improvement — all the insights that are otherwise much harder to reveal quickly and efficiently.

Customer and product discovery

Of course, the most intuitive use case that comes to mind is the adoption of AI in product and customer discovery. For example:

  • Use AI for customer segmentation and persona creation to help visualize personas, prioritize user motivations and expectations, and uncover hidden behavior and needs. You can then create and simplify customer questionnaires for interviews and user groups and target customers more accurately.
  • Analyze quantitative and qualitative data from surveys, support tickets, reviews, and in-person interviews to identify pain points and unmet user needs and help prioritize features for future updates and releases.

Roadmap and sprint management

AI provides value in simplifying roadmap planning and sprint management. Resource optimization is often a gruesome task and AI can help with feature prioritization and resource allocation. It helps teams focus on critical work and increase their productivity. You can even analyze and manage dependencies and improve results across multiple sprints months in advance.

Prototyping and mockup generation

There is no product manager’s routine without multiple mockups, wireframes, and prototypes that explain concepts and collect feedback among stakeholders. AI has become a critical tool in simplifying this process and bringing ideas to life from concept to visualization.

Today, you can use textual or voice descriptions to instantly create multiple visuals with slight variations, run A/B tests and gather valuable feedback at the earliest stage of a product life cycle.

Job search and job interviews

Consider it as a bonus but one of the less obvious but crucial advantages of AI is using it in job search. With the vulnerable and unstable job market, especially for product roles, AI is a valuable assistant. From getting the latest news and updates on a company you want to join, to summarizing insights on the executive team, or company goals, compiling lists of interview questions, and running mock interviews, AI has become a non-judgmental assistant in a distressing and often discouraging job search process.

Use AI to draft cold emails to recruiters and hiring managers, compare your skills to open positions’ requirements, identify gaps, and outline ideas for test assignments.

We already know that AI is not a hype; it is here to stay. However, remember that customers do not consume AI, they consume your product for its value. Customers care whether your product gets their need, solves their problem, and makes their lives easier. The goal of a product manager is to create magic combining human brain capabilities and latest technology. And the best result is with a human at the core of any product.

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Natasha Gorodetsky is the founder and CEO of Product Pursuits, a Houston company that helps early stage and venture-backed startups build products and create impact.

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Houston institutions launch Project Metis to position region as global leader in brain health

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Leaders in Houston's health care and innovation sectors have joined the Center for Houston’s Future to launch an initiative that aims to make the Greater Houston Area "the global leader of brain health."

The multi-year Project Metis, named after the Greek goddess of wisdom and deep thought, will be led by the newly formed Rice Brain Institute, The University of Texas Medical Branch's Moody Brain Health Institute and Memorial Hermann’s comprehensive neurology care department. The initiative comes on the heels of Texas voters overwhelmingly approving a ballot measure to launch the $3 billion, state-funded Dementia Prevention and Research Institute of Texas (DPRIT).

According to organizers, initial plans for Project Metis include:

  • Creating working teams focused on brain health across all life stages, science and medical advances, and innovation and commercialization
  • Developing a regional Brain Health Index to track progress and equity
  • Implanting pilot projects in areas such as clinical care, education and workplace wellness
  • Sharing Houston’s progress and learnings at major international forums, including Davos and the UN General Assembly

The initiative will be chaired by:

  • Founding Chair: Dr. Jochen Reiser, President of UTMB and CEO of the UTMB Health System
  • Project Chair: Amy Dittmar, Howard R. Hughes Provost and Executive Vice President of Rice University
  • Project Chair: Dr. David L. Callender, President and CEO of Memorial Hermann Health System

The leaders will work with David Gow, Center for Houston’s Future president and CEO. Gow is the founder and chairman of Gow Media, InnovationMap's parent company.

“Now is exactly the right time for Project Metis and the Houston-Galveston Region is exactly the right place,” Gow said in a news release. “Texas voters, by approving the state-funded Dementia Prevention Institute, have shown a strong commitment to brain health, as scientific advances continue daily. The initiative aims to harness the Houston’s regions unique strengths: its concentration of leading medical and academic institutions, a vibrant innovation ecosystem, and a history of entrepreneurial leadership in health and life sciences.”

Lime Rock Resources, BP and The University of Texas MD Anderson Cancer Center served as early steering members for Project Metis. HKS, Houston Methodist and the American Psychiatric Association Foundation have also supported the project.

An estimated 460,000 Texans are living with dementia, according to the Alzheimer’s Association, and more than one million caregivers support them.

“Through our work, we see both the immense human toll of brain-related illness and the tremendous potential of early intervention, coordinated care and long-term prevention," Callender added in the release. "That’s why this bold new initiative matters so much."

Texas launches cryptocurrency reserve with $5 million Bitcoin purchase

Money Talks

Texas has launched its new cryptocurrency reserve with a $5 million purchase of Bitcoin as the state continues to embrace the volatile and controversial digital currency.

The Texas Comptroller’s Office confirmed the purchase was made last month as a “placeholder investment” while the office works to contract with a cryptocurrency bank to manage its portfolio.

The purchase is one of the first of its kind by a state government, made during a year where the price of Bitcoin has exploded amid the embrace of the digital currency by President Donald Trump’s administration and the rapid expansion of crypto mines in Texas.

“The Texas Legislature passed a bold mandate to create the nation’s first Strategic Bitcoin Reserve,” acting Comptroller Kelly Hancock wrote in a statement. “Our goal for implementation is simple: build a secure reserve that strengthens the state’s balance sheet. Texas is leading the way once again, and we’re proud to do it.”

The purchase represents half of the $10 million the Legislature appropriated for the strategic reserve during this year’s legislative session, but just a sliver of the state’s $338 billion budget.

However, the purchase is still significant, making Texas the first state to fund a strategic cryptocurrency reserve. Arizona and New Hampshire have also passed laws to create similar strategic funds but have not yet purchased cryptocurrency.

Wisconsin and Michigan made pension fund investments in cryptocurrency last year.

The Comptroller’s office purchased the Bitcoin the morning of Nov. 20 when the price of a single bitcoin was $91,336, according to the Comptroller’s office. As of Friday afternoon, Bitcoin was worth slightly less than the price Texas paid, trading for $89,406.

University of Houston energy economist Ed Hirs questioned the state’s investment, pointing to Bitcoin’s volatility. That makes it a bad investment of taxpayer dollars when compared to more common investments in the stock and bond markets, he said.

“The ordinary mix [in investing] is one that goes away from volatility,” Hirs said. “The goal is to not lose to the market. Once the public decides this really has no intrinsic value, then it will be over, and taxpayers will be left holding the bag.”

The price of Bitcoin is down significantly from an all-time high of $126,080 in early October.

Lee Bratcher, president of the Texas Blockchain Council, argued the state is making a good investment because the price of Bitcoin has trended upward ever since it first launched in early 2009.

“It’s only a 16-year-old asset, so the volatility, both in the up and down direction, will smooth out over time,” Bratcher said. “We still want it to retain some of those volatility characteristics because that’s how we could see those upward moves that will benefit the state’s finances in the future.”

Bratcher said the timing of the state’s investment was shrewd because he believes it is unlikely to be valued this low again.

The investment comes at a time that the crypto industry has found a home in Texas.

Rural counties have become magnets for crypto mines ever since China banned crypto mining in 2021 and Gov. Greg Abbott declared “Texas is open for crypto business” in a post on social media.

The state is home to at least 27 Bitcoin facilities, according to the Texas Blockchain Council, making it the world’s top crypto mining spot. The two largest crypto mining facilities in the world call Texas home.

The industry has also come under criticism as it expands.

Critics point to the industry’s significant energy usage, with crypto mines in the state consuming 2,717 megawatts of power in 2023, according to the comptroller’s office. That is enough electricity to power roughly 680,000 homes.

Crypto mines use large amounts of electricity to run computers that run constantly to produce cryptocurrencies, which are decentralized digital currencies used as alternatives to government-backed traditional currencies.

A 2023 study by energy research and consulting firm Wood Mackenzie commissioned by The New York Times found that Texans’ electric bills had risen nearly 5%, or $1.8 billion per year, due to the increase in demand on the state power grid created by crypto mines.

Residents living near crypto mines have also complained that the amount of job creation promised by the facilities has not materialized and the noise of their operation is a nuisance.

“Texas should be reinvesting Texan’s tax money in things that truly bolster the economy long term, living wage, access to quality healthcare, world class public schools,” said state Sen. Molly Cook, D-Houston, who voted against the creation of the strategic fund. “Instead it feels like they’re almost gambling our money on something that is known to be really volatile and has not shown to be a tide that raises all boats.”

State Sen. Charles Schwertner, R-Georgetown, who authored the bill that created the fund, said at the time it passed that it will allow Texas to “lead and compete in the digital economy.”

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This story was originally published by The Texas Tribune and distributed through a partnership with The Associated Press.

Houston-based HPE wins $931M contract to upgrade military data centers

defense data centers

Hewlett Packard Enterprise (HPE), based in Spring, Texas, which provides AI, cloud, and networking products and services, has received a $931 million contract to modernize data centers run by the federal Defense Information Systems Agency.

HPE says it will supply distributed hybrid multicloud technology to the federal agency, which provides combat support for U.S. troops. The project will feature HPE’s Private Cloud Enterprise and GreenLake offerings. It will allow DISA to scale and accelerate communications, improve AI and data analytics, boost IT efficiencies, reduce costs and more, according to a news release from HPE.

The contract comes after the completion of HPE’s test of distributed hybrid multicloud technology at Defense Information Systems Agency (DISA) data centers in Mechanicsburg, Pennsylvania, and Ogden, Utah. This technology is aimed at managing DISA’s IT infrastructure and resources across public and private clouds through one hybrid multicloud platform, according to Data Center Dynamics.

Fidelma Russo, executive vice president and general manager of hybrid cloud at HPE, said in a news release that the project will enable DISA to “deliver innovative, future-ready managed services to the agencies it supports that are operating across the globe.”

The platform being developed for DISA “is designed to mirror the look and feel of a public cloud, replicating many of the key features” offered by cloud computing businesses such as Amazon Web Services (AWS), Microsoft Azure and Google Cloud Platform, according to The Register.

In the 1990s, DISA consolidated 194 data centers into 16. According to The Register, these are the U.S. military’s most sensitive data centers.

More recently, in 2024, the Fort Meade, Maryland-based agency laid out a five-year strategy to “simplify the network globally with large-scale adoption of command IT environments,” according to Data Center Dynamics.

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