The Rice Angel Network will now be powered by Cannon Ventures. Photo courtesy of Rice University

Rice University's angel network to be powered by Cannon Ventures

Money moves

In an effort to better connect Houston entrepreneurs with angel funds, the Rice Angel Network and Cannon Ventures have formed a new partnership. RAN will now be powered by Cannon Ventures, the investment arm of The Cannon, a West Houston coworking space.

RAN is already located in The Cannon, according to its website, but the new arrangement will allow RAN to leverage The Cannon's programming, events, resources, and community as it continues to serve its alumni network.

In December, the two entities have partnered up in the past for the Houston Investor Network Alliance, a collaboration where participating investors can partner up to co-invest in startups, co-host investor events, and share opportunities. According to the release, this new partnership "takes this a step further" to team up to provide early-stage investment.

"The mission is simple," says Lawson Gow, CEO and founder of Cannon Ventures and The Cannon, in a release. "We want to bring Houston's startup ecosystem the access to capital that they need to thrive here in Houston."

Gow, who is the son of InnovationMap's parent company's CEO, started Cannon Ventures almost a year ago. He's a Rice alumnus, as is Kyle Fletcher, the managing partner of Rice Angel Network.

"Houston is one of the largest cities in the US, yet our efforts to bring capital to startups has been done only in pockets throughout the city," Fletcher says in the release. "We are better together than we are separate."

Teamwork makes the dream work, and this new investor alliance hopes to make Houston startups' dreams of seed funding come true. Getty Images

Investors join forces for citywide alliance to increase access to early-stage capital

Teamwork makes the dream work

Securing funding for your startup is now a one-stop shopping experience. Over 200 accredited investors have teamed up to create the Houston Investment Network Alliance — a platform that promotes investment opportunities and mentorship for early-stage companies.

HINA is a collaboration where participating investors can partner up to co-invest in startups, co-host investor events, and share opportunities.

Behind the alliance are four Houston investment entities: the Houston Angel Network, Rice Angel Network, GOOSE Society of Texas, and Cannon Ventures.

"HAN and the Goose Society have invested over $150M in early stage companies over the last decade. The appetite for startup investing continues to be alive and strong in Houston," says Stephanie Campbell, HAN managing director, in a release. "The birth of new groups like RAN and Cannon Ventures demonstrates a new and growing appetite for investment."

Each of the organizations have connections to Rice University and previously worked together on a sports technology-focused pitch night hosted at The Cannon, a West Houston coworking space lead by CEO and founder, Lawson Gow. Gow is the son of David Gow, owner of InnovationMap's parent company Gow Media.

The Cannon launched its own fund, Cannon Ventures, about seven months ago. It has four startup partners: SEATz, Win-Win, Data Gumbo, and SeeHerWork. Each Cannon Ventures startup partner will received anywhere between $100,000 to $400,000 of seed funding as well as access to space in The Cannon and its accelerator opportunities, Gow says.

Cannon Ventures has already also collaborated with the other HINA organizations. The Rice Angel Network is even based out The Cannon.

"We're increasingly co-investing with other angel networks," Gow says, "because it's hard to start a company and raise money, so the more we can do that to help Houston startups get the money they need."

According to Gow, Houston's thriving startup scene and deep pockets is a perfect opportunity for HINA.

"One of the great things about Houston is we've got a lot of money here," he says. "One of the most transformative things we can do for the startup community is get a lot of high-net worth individuals is get them off the bench and onto the field and activate them as regular angel investors into Houston-based startups. That's a really important goal of Cannon Ventures is to grow our membership base and get ore people involved."

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Mark Cuban calls AI ‘the greater democratizer’ for young entrepreneurs

eyes on AI

Texas billionaire Mark Cuban—whose investment portfolio includes Houston-based Holliball, a startup that makes and sells large inflatable holiday ornaments—believes AI is leveling the playing field for budding low-income entrepreneurs.

At the recent Clover x Shark Tank Summit in Las Vegas, the Shark Tank alum called AI “the greater democratizer.”

Cuban told Axios that free and low-cost AI tools enable disadvantaged teenagers to compete with seasoned professionals.

“Right now, if you’re a 14- to 18-year-old and you’re in not-so-good circumstances, you have access to the best professors and the best consultants,” Cuban said. “It allows people who otherwise would not have access to any resources to have access to the best resources in real time. You can compete with anybody.”

While Cuban believes AI is “the great democratizer” for low-income young people, low-income workers still face hurdles in navigating the AI landscape, according to Public Works Partners, an urban planning and consulting firm. The firm says access to AI among low-income workers may be limited due to cost, insufficient digital literacy and infrastructure gaps.

“Without adequate resources and training, these workers may struggle to adapt to AI-driven workplaces or access the educational opportunities necessary to acquire new skills,” Public Works Partners said.

Texas 2036, a public policy organization focused on the state’s future, reported in January AI jobs in Texas are projected to grow 27 percent over the next decade. The number 2036 refers to the year when Texas will celebrate its bicentennial.

As for the current state of AI, Cuban said he doesn’t think the economy is witnessing an AI bubble comparable to the dot-com bubble, which lasted from 1998 to 2000.

“The difference is, the improvement in technology basically slowed to a trickle,” Cuban said of the dot-com era. “We’re nowhere near the improvement in technology slowing to a trickle in AI.”

CPRIT hires MD Anderson official as chief cancer prevention officer

new hire

The Austin-based Cancer Prevention and Research Institute of Texas, which provides funding for cancer research across the state, has hired Ruth Rechis as its chief prevention officer. She comes to CPRIT from Houston’s University of Texas MD Anderson Cancer Center, where she led the Cancer Prevention and Control Platform.

Before joining MD Anderson, Rechis was a member of the executive leadership team at the Livestrong Foundation, an Austin-based nonprofit that supports people affected by cancer.

“Ruth has widespread connections throughout the cancer prevention community, both in Texas and across the nation,” CPRIT CEO Kristen Doyle said in a news release. “She is a long-term passionate supporter of CPRIT, and she is very familiar with our process, programs, and commitment to transparency. Ruth is a terrific addition to the team here at CPRIT.”

Rechis said that by collaborating with researchers, policymakers, public health leaders and community partners, CPRIT “can continue to drive forward proven prevention strategies that improve health outcomes, lower long-term costs, and create healthier futures for all.”

At MD Anderson, Rechis and her team worked with more than 100 organizations in Texas to bolster cancer prevention initiatives at clinics and community-based organizations.

Rechis is a longtime survivor of Hodgkin lymphoma, a type of cancer that affects the lymph nodes, which are part of a person’s immune system.