Get a preview of Chile Connected's anticipated HealthTech panel

Q&A

Get ready for a fascinating panel. Photo by WebPhotographeer/Getty

The technology and innovation portion of Chile Connected begins next week, and if you haven't already reserved your free spot for the virtual event, you'd be wise to go do it now.

From October 27-29, you can hear from high-level experts and keynote speakers from both Chile and the U.S, as well as network and make new connections that will hopefully lead to a successful partnership.

Josh Sol, the administrative director of Houston Methodist Innovation and Ambulatory Clinical Systems, will be moderating the panel on October 29. The topic is "The Present Future of HealthTech," and will address what COVID-19 means for the future of healthcare technology.

Panelists include Daniela Mendoza, commercial manager for GenoSUR; Alberto Rodríguez-Navarro, founder of Levita Magnetics; and John Dvor, managing director of Miraki Innovation.

InnovationMap recently spoke with Sol about the upcoming event.

InnovationMap: What can U.S. companies gain from participating in this session?

Josh Sol: U.S. companies have the opportunity to gain additional perspectives from other like-minded individuals who are passionate about technology. I've been impressed from the groups and ProChile representatives I have spoken with to date, and I look forward to hearing more about innovation efforts coming from a leading Latin American technology epicenter.

IM: How important are international partnerships in the health tech sector?

JS: Innovation in healthcare technology is coming from all over the globe. Cultural experiences tend to drive creation and innovation. When we collaborate with partners outside of the U.S., we have the opportunity to broaden opportunities and learn from other cultures, and, in turn, we have the potential to apply those insights to what our standard processes are within the U.S. healthcare system.

IM: Personally, why did you feel it important to be involved with Chile Connected?

JS: I have been so impressed by the passion coming from Chile Connected. Discovering new companies doing amazing things in the healthcare technology space continues to fuel my passion for what I do on a day-to-day basis.

IM: What are the key ways businesses can adapt in the pandemic environment?

JS: Businesses should be as nimble as they can — that's a pretty universal lesson most have experienced and we've certainly had first-hand experience in this area as well. At Houston Methodist, our focus is always keeping the patient at the center of everything we do, and we appreciate the collaborative business partners who help us maintain our commitment to our patients, the community, and our clinicians during the pandemic.

Some partners have even pivoted their technology offerings to align with the challenges spurred by COVID. Some areas where we have had to adapt during COVID include ramping up our telemedicine efforts, quickly turning on our virtual ICU, and diversifying the way we communicate with our patients through digital technology.

IM: What do you think is important for start-ups to focus on when trying to grow in this field?

JS: Healthcare technology organizations have many opportunities available to them and must be open to change and the innovations coming from younger start-up companies. As a start-up, it's important to know the problem you are attempting to solve, and to also understand the bigger picture of either the process, patient experience, or clinician experience you are impacting.

Too often, a company will say, "What do you want it to do? It can do anything…" Always come with a solution mindset. Drill down into your offering and what value you have to the organization you're pitching to.

Reserve your free spot for Chile Connected now.

Form international partnerships without ever leaving home. Photo by Luis Alvarez/Getty

5 reasons to get connected with Chile via this virtual event

Listen to the List

It's almost time for the tech and innovation portion of Chile Connected, a nearly month-long virtual event designed to serve as a "matchmaker" for technology firms as well as creative industries, healthy food providers, and women-led businesses.

Sponsored by ProChile, the online convention is an easy — and free — way to meet your next possible collaborator, all from the comfort of home.

To make sure you don't miss your shot at building the next big partnership, here's everything you need to know.

1. The when and where
Chile Connected runs online October 19-November 20, with the tech and innovation panels taking place October 27-29. It's free to attend and you can register here.

2. What to expect
In addition to B2B matchmaking sessions, you can hear Chilean entrepreneurs about about their global innovations in the areas of HealthTech, FinTech, EdTech, and RetailTech. Experts will explore the future of e-commerce, how to empower women in tech, and how healthcare technology is changing in the face of COVID-19.

3. Who'll be there

  • HealthTech: Alberto Rodriguez, president of Levita Magnetic, a company that develops technology through magnets to reduce the need for incisions, invasive surgeries, and scars.
  • RetailTech: Ariel Schilkrut, cofounder of Zippedi Inc. Zippedi is a robot that uses AI to provide services to the retail industry. It includes image recognition and deep learning to create inventories, which improves the efficiency of replenishment processes and the level of service that these companies provide to their customers.
  • EdTech: Komal Dadlani, CEO and cofounder of Lab4U, a company that transforms mobile devices into scientific instruments to democratize access to science, giving the possibility of having a laboratory in your pockets.
  • EdTech: Marisol Alarcón from social de Laboratoria, a company that trains women without higher education as web developers. This undertaking was highlighted by Mark Zuckerberg and Barack Obama for its contribution to gender equality.
  • Fintech: Cristóbal Forno, founding partner of Global 66, a platform for international money transfers.

But that's just the start — besides the big names from even bigger companies, there will be dozens of people from all over the world looking to network and form partnerships.

4. Why you should consider Chile
Chile is recognized as the most advanced IT market in Latin America, with the IT sector there representing 3.4 percent of its national GDP. Chile is also the 29th largest trading partner of the United States, while America is the No. 1 destination for non-copper goods and service exports from Chile.

5. How Chile benefits you
Most Chilean companies — 53 percent, in fact — are looking for a joint venture or capital to grow into other markets. Chile has been regularly investing not only money but also resources and programs to support new startups and companies. Start-up Chile is one such accelerator; it has vowed to invest $80,000 in an American start-up that will create and develop its idea in Chile.

Reserve your free spot for Chile Connected now.

Your next game-changing parter might be in Chile. Photo by Klaus Vedfelt/Getty

Why your tech company should partner with forward-thinking Chile

Find Your Match

What's one of the most important ways a tech company can ensure success? Collaboration. Finding that perfect fit with a like-minded partner just might change the world — but first you have to find each other.

For many U.S.-based companies, their next great collab could be Chile. The South American country has recently been attracting the attention of big-name players such as Jeff Bezos, all based off its growing IT presence and expansion in the HealthTech, FinTech, EdTech, and RetailTech sectors.

But you don't have to actually travel to Chile to meet possible partners.

Chile Connected, sponsored by ProChile, is a nearly month-long virtual event designed to serve as a "matchmaker" for technology firms as well as creative industries, healthy food providers, and women-led businesses. And it's completely free to attend.

On October 27-29, the tech and innovation panel will welcome high-level experts and keynote speakers from both Chile and the U.S.

You'll hear from top-level execs at rapidly growing companies like biotech start-up GenoSUR and magnetics surgery pioneer Levita, both Chilean-based with American partnerships. Levita founder Alberto Rodriguez-Navarro will share the stage with GenoSUR's commercial manager Daniela Mendoza, along with a representative from CIC Health, which is innovating in COVID-19 rapid testing.

You also get to network and make new connections, hopefully leading to a successful partnership.

Most Chilean companies — 53 percent, in fact — are looking for a joint venture or capital to grow into other markets. U.S. companies then get the opportunity to select those which best suit their needs or have the most potential, as well as purchase up-and-coming software and other tech products at a very competitive price.

Chile has been regularly investing not only money but also resources and programs to support new startups and companies. Start-up Chile is one such accelerator that has vowed to invest $80,000 in an American start-up that will create and develop its idea in Chile.

So the money, know-how, and support are just waiting in Chile for the American businesses to come find it, and Chile Connected is where you can get started. Reserve your free spot for the event here.

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Houston lab explores how AI bots can help the elderly

AI for aging

The University of Houston’s Empathetic Lifespan AI & Robotics for Aging (ELARA) Lab is currently conducting research into how AI bots may be able to help the elderly live more social and independent lives through several ongoing initiatives.

The lab officially launched last month as part of the Gerald D. Hines College of Architecture & Design under the leadership of Assistant Professor Chorong Park. Part of the lab’s mission is tackling ongoing problems with aging, such as dealing with disabilities and social isolation. Researchers’ current work is focused on designing a new AI companion bot specifically tailored to the needs of older people.

“We need to take all the needs of older adults seriously,” Park said in a news release. “They won't use the robot if they don't feel at ease or if they feel they are being constantly watched.”

The field testing of new AI bots in this population hopes to overcome several traditional obstacles in technology use among the elderly. A study by Park shows that many older people have a fear of overt surveillance when using advanced AI. There is also ageism to consider. Most new technologies are designed with younger and employed buyers in mind, not retirees who may need help remembering daily tasks or accessing important information.

“The more older adults are excluded from technology development, the worse those technology gaps will become,” Park said. “AI and the majority of technologies are created for younger people, so my research method integrates older adults directly into the design process.”

ELARA recently collaborated with the Mamie George Community Center in Richmond, Texas, to track seniors’ response to desktop AI bots like Emo and Cupboo. Researchers also had participants use air-dry modeling clay to create their ideal robotic companion.

While the eventual AI bot may be able to help the elderly feel less isolated and more supported, there are concerns to consider. A study published in the Asian Journal of Psychology charted the development of delusional thinking in a 72-year-old woman who became convinced the empathic-response bot was in love with her. The rise of “AI psychosis” has the potential to exacerbate mental health problems, particularly in socially isolated people, which a quarter of Americans over the age of 65 are.

ELARA’s research is focused on creating “pet-like” AI models with enhanced trust cues. If it can overcome the dangers of socially isolated people relying on AI for companionship, it could be a big step forward for independent aging.

SpaceX IPO set to be biggest ever and could make Elon Musk a trillionaire

IPO News

SpaceX says it plans to raise up to $75 billion when it goes public this month, setting the stage for the largest-ever stock market debut and putting Elon Musk on course to becoming the world's first trillionaire.

The company, formally known as Space Exploration Technologies Corp., said Wednesday it will sell 555.6 million shares at $135 a piece in an initial public offering. The estimated proceeds would easily top the $26 billion raised by oil giant Saudi Aramco in 2019. The offering would also give SpaceX a market value of $1.77 trillion. Only six companies in the S&P 500 are currently worth more, with Nvidia tops at $5.2 trillion.

Besides the size of the offering and the expected proceeds, SpaceX's amended prospectus updates details about how much control of the company Musk will have. As SpaceX's CEO, chief technical officer and chairman, Musk's voting power will come primarily through his ownership of 5.22 billion Class B shares, which give the holder 10 votes for every share held. According to the filing, Musk would have 82.4% of the voting power in the company.

Forbes currently values Musk's net worth at $826 billion and his stake in SpaceX at $542 billion. The estimated value of his SpaceX holdings was based on an overall value for the company of $1.25 trillion. Based on those numbers, a $1.77 trillion valuation for SpaceX would boost Musk's net worth by $223 billion, making him a trillionaire. However, much of Musk's worth is in stock that he has yet to cash in.

Even as it makes a bid for a blockbuster market debut, SpaceX is currently losing billions of dollars a year. The filing shows that the company lost $2.6 billion from operations last year on $18.7 billion in revenue, and the losses kept piling up at the start of this year, too.

Fantastical plans

Time will tell how SpaceX fares on the market. Musk's plans for the company are as fantastical as the money he hopes raise in the sale.

Colorful, even frightening in parts, the IPO document strikes a contrast with the typically dry, technical prose in IPO documents, detailing plans to use proceeds from the sale to help put men on the moon again and perhaps even Mars. In one section, it talks of a need to build "a permanent human colony" on the red planet with "at least one million inhabitants" as existential threats loom that could consign man to "the same fate as the dinosaurs."

Musk has almost equally ambitious plans for his other publicly traded company, Tesla. His goal is to transform the maker of electric vehicles into a producer of robotaxis and humanoid robots. Dan Ives of Wedbush Securities wrote in a research note that he expects Tesla and SpaceX to merge next year.

AI plays a key role

Key to the success of both companies — and any merged entity — is artificial intelligence. In its IPO filing, SpaceX says it sees potential revenue from AI of up to $26.5 trillion. But that depends on another lofty Musk ambition — putting data centers in space, which is not technologically possible at the moment.

Transforming his space company into a primarily AI-focused company will be a challenge for Musk, who started xAI in 2023 with 11 other co-founders who have all since left. Some were recruited away by rivals.

Its main AI product, the chatbot Grok, is "less impressive than anything that we see from any other major player in the space, whether that's OpenAI, or Anthropic, or (Google's) Gemini," said IDC analyst Arnal Dayaratna.

Dayaratna said that doesn't mean SpaceX doesn't have potential as a major AI player, thanks in part to its computing partnership with Anthropic and Musk's recent deal that gave SpaceX the rights to buy AI coding tool Cursor for $60 billion later this year. Folding in Cursor's capabilities would give SpaceX access to the coveted business customers now using Anthropic's Claude or OpenAI's ChatGPT.

SpaceX plans to use the net proceeds from the IPO to fund the expansion of infrastructure for its AI and rocket businesses, and to beef up the constellation of satellites that power Starlink Mobile, among other investments.

The company plans to list on the Nasdaq under the symbol "SPCX" and could begin trading as soon as the end of next week.

And SpaceX isn't the only colossal market debut investors are now bracing for. Earlier this week, Anthropic submitted a confidential filing with the U.S. Securities and Exchange Commission to officially start its own IPO clock.

OpenAI has not yet reported filing the initial SEC paperwork, but an IPO from the ChatGPT maker is widely expected.

"This listing represents the first major test for public markets after years of muted IPO activity with SpaceX paving the way for AI giants Anthropic and OpenAI to follow soon after," Ives wrote.

___

Associated Press Technology Writer Matt O'Brien contributed.

New UH survey reveals concerns over AI data center growth in Houston

data findings

A new report out of the University of Houston shows that area residents remain wary of the long-term effects of operating data centers.

The recent survey from the University of Houston’s latest SPACE City Panel, conducted by the Center for Public Policy at the Hobby School of Public Affairs, shows that while 85 percent of Houston-area residents use AI, nearly 63 percent oppose the construction of AI data centers within 1 mile of their homes.

Respondents’ concerns centered around data centers’ high energy demand and the area’s power grid reliability. According to the survey, 32 percent of residents who oppose local data center projects would be more likely to support the centers if they relied on renewable energy over fossil fuels.

“Respondents understand that AI can bring economic and educational benefits, but they are also concerned about the physical infrastructure needed to fuel AI, especially data centers,” Soran Mohtadi, post-doctoral fellow at the Hobby School and a researcher on the report, said in a news release. “This physical infrastructure demands more electricity and water, leading to environmental impacts.”

Experts estimate that 6.5 gigawatts of data center capacity will be added to the Texas grid by 2030. And Houston’s data center capacity is predicted to more than double by 2028.

The Electric Reliability Council of Texas also projects electricity demand could reach 218 gigawatts by 2031, which would be more than double the record peak set in August 2023. Data centers are expected to account for 86 gigawatts of that new demand.

Survey respondents also said they are concerned about the state's future water supply, given the large amounts of water that data centers need to stay cool.

In terms of who’s responsible for that issue, 57.6 percent of respondents said they put the onus on Texas lawmakers, while 31.5 percent say tech companies should be responsible.

Additionally, more than 75 percent of respondents believed that data center developers and technology companies—not residents—should bear the cost of infrastructure upgrades to support data centers.

“Every decision legislators make has implications on residents’ everyday lives and local infrastructure now and in the future,” Maria P. Perez Arguelles, lead researcher on the report and research assistant professor at the Hobby School, added in the news release. “This issue is going to become more important in years to come, so this is just the beginning.”

Read the full report here.

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