The Cannon launched Cannon Connect — an online platform that takes its community of entrepreneurs, investors, and more online — amid the pandemic and plans for growth. Photo courtesy of The Cannon

When the team at The Cannon — a Houston coworking company with three locations across town — was planning an online platform that would connect members across their properties in January, they didn't see a global pandemic enroute to upend how Houstonians work. It did, however, make the need for an online platform all the more relevant.

Now, Cannon Connect has launched to its members — and it comes equipped with virtual networking, job hunting, resources, and more. The whole goal of the platform is to democratize the programming, resources, and culture The Cannon has created.

"Our recognition was that we have a lot of value we can deliver," says Jon Lambert, CEO of The Cannon. "We want to provide the value that we have to entrepreneurs anywhere and everywhere — we don't want to preclude entrepreneurs, investors, advisers, and service providers from being part of what The Cannon is trying to build just because you're not close to one of our facilities."

Cannon Connect acts as a virtual hub for networking, resources, and more. Photo courtesy of The Cannon

A pivot toward a virtual platform isn't a novel idea, Lambert admits, and other Houston organizations have rolled out their platforms — like Houston Exponential's HTX TechList and Sesh Coworking's Inner Circle. However, The Cannon's main goal is replicating the community it has in its locations and creating an online space for that.

"Having a portal is one thing — creating an environment and an experience where people want to spend their time is another," Lambert says, comparing Cannon Connect to social media platforms and how people use them regularly to stay connected to what's going on.

Another differentiating factor is The Cannon is planning to have its platform used by more than just the Houston ecosystem. Lambert says that over the past year, he's talked to around 30 cities from around the world who are interested in The Cannon's concept. The "future-proofed" virtual platform will enable connectivity and consistency as the company grows.

Current members have access to the portal, and new members can opt in for $30 a month. Image courtesy of The Cannon

"If we're really going to create and grow this community, there's not a building that's big enough for every entrepreneur out there, but certainly in a digital environment, we have the ability to pull those folks in," Lambert tells InnovationMap.

While the conversations on physical spaces in these cities has stalled, Lambert says entering into new markets with a digital-first plan has become the new priority.

The online community is made up of a forum section, jobs board, knowledge center, and more. In the future, The Cannon, which recently acquired Houston crowdfunding platform LetsLaunch, will add in a crowdfunding capability to the site. Live streaming events is another tool that's in the works.

Cannon Connect is available to all Cannon coworking members, and online-only registration is $30 a month or $300 a year. The Cannon team is also working on creating a student membership option, which should be available in the near future.

Learn more in The Cannon's promotional video below:

The Cannon is an Entrepreneurial Ecosystemwww.youtube.com

Houston-based Sesh Coworking has launched an online platform so that members can work alongside each other. Photo via seshcoworking.com

Houston coworking company launches online portal to connect members working from home

coworking from home

As the COVID-19 pandemic continued to enforce working from home and social distancing earlier this summer, a Houston coworking company knew they needed to find a way to reach professionals and entrepreneurs digitally.

Sesh Coworking launched its Inner Circle membership this week to be a one-stop shop for business, connection, support, and more for members. Last month, Meredith Wheeler and Maggie Segrich began working on the virtual space after discovering the need for this virtual space from their network.

"We talked to a lot of people," Wheeler tells InnovationMap. "We were constantly asking people, 'what do you need right now?' And the resounding answer was for community and connection."

While Sesh reopened its physical space in Montrose on June 1, not all members were comfortable — or even able — to return to Sesh in person. So, the idea was to bring Sesh's culture and mission to them by taking the company's existing member portal and upgrading it with features like video conferencing, chatrooms, and more.

"It's almost kind of like a new age version of AIM chat. You could see who's online and you can chat with them," Segrich says. "You can work alongside with people."

With these new tech capabilities, Sesh can continue some of its events — like coffee and coworking and other networking and social events — virtually. Segrich and Wheeler also say they will be able to create accountability groups since some members have said that this new way of working makes it hard to focus and get stuff done.

The platform will also enable educational and training-based events, and Sesh has already created a kind of catalogue for resources and materials that come out of these events so that all members can have access to that information, not just the ones that were able to log on for the event.

"With business right now, and Maggie and I are feeling this constantly, it's like everyday is a new pivot — a new turn, twist, or adaptation that we're having to create," Wheeler says. "Sometimes, you know what you need to do and you don't know how to do it, but you need to figure it out fast. So, hopefully by having these resources at the tips of their fingers, our members can make those turns quicker."

A major perk for Sesh and its founders is that, now that they have everything set up and launched, their reach expands much further than their Sesh Loft in Montrose.

"This is not just limited to Houston. This can go, and we hope it goes, nationwide. We've had folks from all over the country on our digital events," Wheeler says. "This could be the silver lining from everything that's happening in 2020 — that our authentic digital connection has a much farther way to travel."

The first 30 members of Sesh Inner Circle can get a monthly membership rate of just $5.99. After that, it's $14.99 a month to sign up. Existing members to the physical space have access to the virtual platform, and virtual members can access special rates on booking space in the Sesh Loft. The launch of Inner Circle has also corresponded with the expansion of Sesh's store of locally sourced products. The store is available at the Sesh Loft or online.

Connect online

Photo via seshcoworking.com

The member portal lets Sesh coworkers have a one-stop shop for virtual and in-person engagement.

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Baylor College of Medicine launches VC fund to invest in biotech startups

fresh funding

Houston’s Baylor College of Medicine just unveiled a new venture capital fund that backs early-stage biotech startups—and it’s already made its first investment.

BCM Legacy Fund I, funded by philanthropies, invested an undisclosed amount in Houston biotech startup Nemea Therapeutics. Nemea, a spinout of the Baylor College of Medicine and Germany’s Lead Discovery Center, is developing an oral drug to treat metastatic triple-negative breast cancer that no longer responds to currently available therapies.

This type of aggressive cancer spreads from the breast to other areas of the body, such as the bones, liver, lungs or brain. Roughly 38,000 to 57,000 Americans are diagnosed each year with metastatic triple-negative breast cancer. One study showed about half of patients survive past the one-year mark following diagnosis and about one-third survive two years.

“Baylor College of Medicine’s laboratories produce discoveries with the potential to change patients’ lives, and too many of them stall where academic funding ends and private investment has not yet begun,” Dr. Jakub Tolar, president, CEO and executive dean of the Baylor College of Medicine, said in a press release. “The BCM Legacy Fund fills that gap, giving our scientists a path to advance their discoveries to patients.”

The National Institutes of Health awards more than $36 billion per year for biomedical research in the U.S., Baylor said. But some biomedical discoveries “never leave the starting line because they don’t yet fit the economics of venture capital,” the college said.

“The forefront of a new model”

The BCM Legacy Fund aggregates philanthropic capital from private foundations and donor-advised funds. It then invests in startups so they can move beyond that starting line and into later-stage investment rounds. The Greater Houston Community Foundation is the fund’s philanthropic partner.

“It’s exciting to be on the forefront of a new model for philanthropic capital,” said Houston entrepreneur and investor Burton Hanson, managing partner of the fund.

“Not only do we hope to solve a real problem by advancing these therapies to the patients who need them most, but we also hope this model will inspire others in the city and beyond toward philanthropic creativity and a posture of ‘I sacrifice; we win.’”

The fund expects to invest in about 15 early-stage startups over a five-year span. Baylor declined to divulge the amount of money in the fund and the size of the investment in Nemea.

Nemea’s “world-class chemistry”

Hanson oversees the Baylor fund alongside Chicago investor Steve Lehmann, who led the University of Chicago’s Innovation Fund.

Lehmann said Nemea, the fund’s first portfolio company, “has world-class chemistry, Baylor biology, and patients with no good options. Our job is to fund the experiments that carry it to the next handoff, so that industry and later-stage investors can take it from there.”

Based at Houston’s massive Texas Medical Center, Nemea plans to start clinical trials next year in collaboration with Baylor’s Lester and Sue Smith Breast Center.

Nemea previously received $9 million from the Lead Discovery Center and a $1.6 million grant from Baylor. Last year, the startup said it was seeking $25 million to $30 million in seed and Series A funding.

Debra McCoy of Houston, a former managing director at BlackRock and former partner at Bain & Co., and Paul Thomas, co-founder and CEO of Spring-based benefits manager Luscinia Health, sit on the Baylor fund’s governing board. Dr. Paul Klotman, former president, CEO and executive dean of Baylor, is a senior strategic adviser.

How does the fund find investment targets?

The Baylor Legacy Fund relies on two tools to help unearth early-stage biotech startups:

  • High-resolution “innovation maps” of research institutions. These maps surface hidden clusters of innovation, identify rising-star researchers and tie pockets of “innovation supply” at Baylor to areas of “innovation demand” in biotech.
  • AI-enhanced due diligence. AI agents assist with due diligence of early-stage biotech startups. The fund says the platform “distills the frameworks we’ve developed over a decade of teaching and investing into a flexible … diligence environment.”

MD Anderson unveils $3.4B expansion with two new Houston cancer care facilities

major expansion

The cutting edge of cancer-fighting technology and science is getting even sharper after MD Anderson announced last week that it will open two new facilities in the Texas Medical Center within the next five years. Inspiration Tower and Prism will expand MD Anderson’s annual patient load in the TMC to 250,000 annually and will incorporate a variety of new techniques.

The $3.4 billion project will add 2 million square feet to MD Anderson's TMC footprint, bringing its total campus size to 22 million square feet by 2032. Located at the corner of Fannin Street and Holcombe Boulevard, the cancer center says the two new facilities will serve as its new "front door" to the TMC.

“Every detail of these buildings, from the technology to the treatment rooms, was designed around our patients who will receive their care in them and our employees who will work in them. The facilities will serve as a physical representation of hope for the patients and their families who will walk through the doors,” Dr. Jeffrey E. Lee, president ad interim of UT MD Anderson, said in a news release. “Inspiration Tower and Prism are the future of cancer care, and we are grateful for the longstanding support and guidance we’ve received from the UT System Board of Regents to bring these projects to life. These facilities are part of the most impactful capital expansion in UT MD Anderson’s history.”

Prism is especially exciting as it will represent fully half of the linear accelerator treatment in the TMC. Linear accelerator is a radiation treatment that uses magnetically charged fields to deliver targeted external radiation therapy, like shooting cancer with a rail gun. The treatment is safer and has fewer side effects than older radiation treatments.

In addition, Prism will contain 12 MRI machines, four CT scanners, two PET-CT units, 18 radiation vaults and seven radiation simulators. Patient comfort has also been put at a premium with multiple gardens and roof overlooks.

“Every patient we treat deserves an environment that reflects the excellence of the care they receive at UT MD Anderson,” Chris McKee, executive vice president and chief strategy officer at UT MD Anderson, added in the release. “Our new facilities will be innovative, agile, adaptable and beautiful, and they will allow us to care for more patients, more effectively – in an environment that enhances healing and well-being. We are building for our future and for every patient who will be counting on us.”

Prism is slated to open in 2030.

Inspiration Tower will have 25 floors of surgical, diagnostic, and treatment services. At 1.4 million square feet, it’s currently expected to be the largest cancer-specific treatment facility in the United States. The tower will be divided into units for specific types of cancer, making it easy to integrate the advancing research being done all over Houston.

Like Prism, Inspiration Tower is specifically designed to offer comfort and reassurance, with more garden space, terraces, and beautiful scenery to ease patient distress. It is expected to open in 2032.

Tesla will pull the plug on Cybertruck production at Texas factory in 2027

Tesla Talk

Tesla’s Cybertruck, the hulking, stainless-steel pickup that inspired devotion and derision with its science-fiction looks, will cease production next year.

CEO Elon Musk announced the model’s demise Friday, November 6, with a curt post on X, his social media site, simply noting production of the vehicle “will be winding down” around the middle of 2027 at its facility outside Austin, Texas. Musk said the move was to allow increased production of its Cybercab robotaxi.

For the Cybertruck, a pet project of Musk who insisted it was Tesla’s best product, it marks an unceremonious end to one of the auto industry’s most ballyhooed debuts.

“Few vehicles in history have generated as much attention,” said Armen Hareyan, whose Torque News site covers autos. “The Cybertruck became a cultural symbol – loved, mocked and impossible to ignore.”

The Cybertruck rolled onto the scene in a dramatic unveiling in 2019, when a Tesla designer hurled a metal ball at the vehicle to demonstrate its supposedly unbreakable glass, only to see it shatter. He repeated the stunt on another window of the truck only to shatter that one, too.

Even as some critics scoffed, Musk was steadfast.

“I just wanted to make a futuristic battle tank — something that looks like it could come out of ‘Blade Runner’ or ‘Aliens’ or something like that but was also highly functional,” he told Automotive News. He called it “a better sports car than a Porsche 911” and “a better truck than an F-150.”

It struck some as the perfect vehicular reflection of the brash, convention-busting Musk.

“A really controversial vehicle unveiled by a controversial individual into a market where none of the electric trucks have been able to really capture demand,” said Spencer Penn, a former Tesla executive who left the company before the Cybertruck’s launch and now heads software developer LightSource.

Penn remembered watching the unveiling and feeling initially revolted by the sight of the Cybertruck, calling its appearance “madness.” But the more he looked at it, the more his opinion changed. He signed up for a pre-sale reservation, though ended up not getting a Cybertruck when Musk’s promises of a price tag under $40,000 went unmet and the first trucks sold for double or more. Penn called the Cybertruck part of Tesla’s adventurous spirit that drives innovation.

“Some of these bets work and some of these bets don’t,” he said.

While the decision to end Cybertruck production may be driven by sales realities, it's also a reflection of Tesla’s shift to autonomous vehicles, on which Musk is betting the company’s future.

Musk once forecast he’d make 250,000 Cybertrucks a year. Kelley Blue Book estimated Tesla sold just 20,237 of the vehicles last year, down about half from the year prior. Sales through the end of September this year were down another 28%, according to Kelley Blue Book.

If the imposing, sharp-angled, dystopian appearance of the Cybertruck weren’t enough to turn many potential buyers away, Musk did so himself by allying with a panoply of right-wing figures, most notably U.S. President Donald Trump. He alienated some customers as his image morphed from eccentric innovator to polarizing force trading his billions for political influence.

Once-passionate Tesla drivers rushed to sell off their cars, or slapped stickers on the bumper declaring, “I bought this before Elon went crazy.” Organizers staged demonstrations outside Tesla showrooms and urged investors to dump shares of the company’s stock. Anger spilled into violence, with Molotov cocktails hurled at Tesla vehicles, charging stations set ablaze, and dealerships covered in graffiti.

Lovers of the Cybertruck became targets, too, subjected to shouts of “Nazi!” and extended middle fingers.

Ross Blankenship is one of them. When he first laid eyes on the Cybertruck, he felt transported to a world from his childhood, when he would play “Halo,” the sci-fi video game. He had to have it.

“I had that sort of child in me wanting to be part of something cool that would change the future of automotive,” Blankenship said in a call from his Cybertruck as he drove through Sunnyside, Colorado. Even as Blankenship found he agreed with Musk on politics, he hated seeing a vehicle he loved turned into a political symbol. “I never bought it for any other reason than the fascination with the future technology of trucks … so that was a little heartbreaking.”

He would buy another Cybertruck again in a heartbeat, calling its end “a sad moment.”