3 Houston innovators to know this week

who's who

This week's Houston innovators to know includes Rebecca Vaught of Van Heron Labs, Samantha Lewis of GOOSE Capital, and Camilo Mejia of Enovate Upstream. Courtesy photos

Editor's note: Houston entrepreneurs are like the city itself — resilient. And much like the wildcatters that preceded them, they are self-starters and hard working. This week's roundup of Houston innovators all reflect these attributes — whether they're founding their company amid a global pandemic or rebranding a 15-year-old investing institution.

Rebecca Vaught, co-founder of Van Heron Labs

Entrepreneur hopes to bring microbiology into the future with her Houston-based, pandemic-founded startup

Rebecca Vaught started her biotech company just ahead of COVID-19, but she shares on the Houston Innovators Podcast that it's meant more opportunities than challenges. Photo courtesy of Van Heron Labs

When Rebecca Vaught's accelerator program shutdown due to COVID-19, she didn't let that stop the progress for here fledgling biotech business. In fact, it was a turning point.

"A lot of people probably would have seen that as the stopping point but that was actually the beginning of the company," Vaught says on the Houston Innovators Podcast. "What it allowed us to do was actually establish the lab and do the hard work."

As Vaught says, the biotech company, Van Heron Labs, is what it is thanks to the pandemic — not just in spite of it. Click here to read more and listen to the podcast episode.

Samantha Lewis, director of GOOSE Capital

Samantha Lewis, director of GOOSE Capital, shares how the investment firm has rebranded and is focused on the future. Photo courtesy of GOOSE

A prominent investment group, GOOSE Capital — previously known as GOOSE Society of Texas — has opted for a rebranding to move itself into the future for Seed and Series A investment. Samantha Lewis, director of GOOSE, explains the decision means more than just a new name and upgraded website.

"As for the future of GOOSE Capital, expect great things," she tells InnovationMap. "Our rebranding is one of the many steps we are taking to solidify our position in the Seed and Series A venture scene."

Rather than operating as a fund, the GOOSE Capital model enables its corps of investors comprised of Fortune 500 execs and successful serial entrepreneurs direct access to a portfolio of startups and investment deals. At the same time, GOOSE's portfolio companies are able to receive support from these investors. Click here to read more.

Camilo Mejia, CEO and founder of Enovate Upstream

Houston entrepreneur plans to revolutionize and digitize the energy industry

Camilo Mejia, CEO and founder of Houston-based Enovate Upstream, has big plans for increasing efficiency across the oil and gas sector. Photo courtesy of Enovate

Enovate Upstream announced its new artificial intelligence platform that aims to digitize the oil and gas sector to provide the best efficiency and return on investment at every stage of the supply chain cycle — from drilling and production to completion.

"We see a better future in the oil and gas industry," Mejia shares in an interview with InnovationMap. "Our team worked in various roles in O&G, and we don't think the industry will end up as some people may think. The future will be different and digitized, we are just here to facilitate that transition to give back to the industry that gave us a lot."

The company's proprietary cloud-based ADA AI digital ecosystem is challenging the assumptions of the industry by using new technology powered artificial intelligence to provide historical data with AI to give real-time production forecasting. Thanks to the cloud, users can access the information anywhere in the world. Click here to read more.
Samantha Lewis, director of GOOSE Capital, shares how the investment firm has rebranded and is focused on the future. Photo courtesy of GOOSE

Houston venture capital group enters into new era with rebrand

money moves

A Houston-based venture group has flipped the switch on its rebranding in order to transition itself into a new era of innovation and startup investing.

GOOSE Capital — previously known as GOOSE Society of Texas — is a private investment firm based in Houston that focuses on early-stage venture capital deals. Rather than operating as a fund, the GOOSE Capital model enables its corps of investors comprised of Fortune 500 execs and successful serial entrepreneurs direct access to a portfolio of startups and investment deals. At the same time, GOOSE's portfolio companies are able to receive support from these investors.

GOOSE's rebrand includes a new name and website, but also represents a new phase for the investment firm. Samantha Lewis, director of GOOSE Capital, sat down with InnovationMap to discuss the rebranding and what it means for the firm.

InnovationMap: How did the rebranding come about?

Samantha Lewis: In the autumn of 2017 at Kenny and Ziggy's over a plate of greasy eggs and diner coffee, I sat across from Jack Gill, an immensely successful Silicon Valley venture capitalist and the founder of the GOOSE Society of Texas. I had just graduated from the Rice MBA program. I had decided not to go forward with a "tough-tech" startup I'd been working on for most of that year, and I was looking for my next gig, one that could leverage my entrepreneurship operator experience but also get my foot in the door to venture capital.

Jack laid out for me what is an age-old story in the startup world — a high potential organization that has proven itself in its current form, with loads of raw materials but a need for a leader who could take it to the next level. Fortunately, I was the person for the job, and with my energy and their expertise, it was time to level up the GOOSE Society of Texas. One of my key objectives was to build out the strategy and oversee the transition from GOOSE Society of Texas, a loose collection of highly successful individuals investing in ventures, to GOOSE Capital — a diversified, innovation-focused venture firm that can go toe-to-toe with the rest.

IM: Why now?

SL: GOOSE has been investing in startups since 2005. That's a long time. Lately, though, we've co-invested with some major VCs in some hot deals. For example, GOOSE seeded Outrider, an autonomous zero emission trucking solution for logistics centers with follow-on capital provided by NEA, 8VC, and Koch Disruptive Technologies. We also co-led one of the hottest series A deals out of Houston (am I biased?), Syzygy Plasmonics, with The Engine, a fund associated with MIT, and joined the ranks of other major players in the cleantech investing space like Evonik and Breakthrough Energy Ventures.

It was time to ensure our brand represented our successful transition that started in that old school Houston diner in late 2017.

IM: What does the rebranding mean for GOOSE's future?

SL: Working with Houston-based Spacecraft Brands, we really wanted to capture what we admire about Houston and what we love about GOOSE: legacy and tradition combined with new beginnings and innovation. Keeping with the original theme of a goose taking flight to represent the startups we invest in, we added the orange circle in the background to represent a sunrise to reflect new beginnings and a sunset to pay homage to a successful decade and a half of GOOSE deploying capital.

As for the future of GOOSE Capital, expect great things. Our re-branding is one of the many steps we are taking to solidify our position in the Seed and Series A venture scene.

IM: What does investing look like these days for GOOSE?

SL: So far in 2020, all of our capital has gone to portfolio companies to strengthen their balance sheets as we wade through the uncertain waters of commercialization and fundraising in the midst of a pandemic. We are still actively diligencing deals, including three from the Rice Business Plan Competition, one in the TMCx cohort, a few Houston based deals, and a couple outside of Texas.
Is the venture capital model broken? Are lower middle-of-the-country startup valuations a benefit or a hindrance? And what will the impact of the coronavirus be on startup investing? Getty Images

Overheard: Houston venture capital experts weigh in on the city's investment future

#HTXTechRodeo

Last week's Houston Tech Rodeo celebrated Houston's development as an innovation ecosystem. One major component of the Bayou City's innovation growth is the amount of venture capital activity happening in Houston.

At a panel on Monday, InnovationMap hosted a discussion between three local investors about whether or not the VC model is broke, if Houston is too far behind the coasts, and even the effect of coronavirus on investment.

If you missed the event, here are some overheards from the panel.

“We weren’t sure whether [Houston] would be the best place or the easiest place to raise money in, but it’s been incredibly welcoming."

— Leslie Goldman, general partner at The Artemis Fund. The female-founded, female-focused fund launched last year and has made two investments so far — with three more to announce in the next few weeks.

“We have a lot of experience and expertise, and a lot of money and deep pockets. But how do we make sure we are taking advantage of everything going on in Houston outside of just investing in other funds?”

— Samantha Lewis, director of Goose, explains that Goose's model is a network of high net worth investors who share deal flow and diligence duties. The organization invests $10 million annually.

“We have a much more operator and business fundamental mindset. When we look at companies at Goose, we ask, ‘what’s the path to profitability?” — not just what the growth rate is.”

— Lewis says, adding that Houston has a different psychology of success than coastal innovation ecosystems, and that's apparent in her investors at Goose.

“As an entrepreneur in Houston you have to understand one thing, and that one thing is that companies in the middle of the country generally get a discount to companies on the coast."

— Blair Garrou, managing director at Mercury Fund says on the discrepencies between valuations of Houston companies versus coastal companies. Garrou explains that, "companies in the middle of the country grow at lower rates than their coastal counterparts not because of their company but because of the amount of capital that you put to work." Coastal VCs want to go all in on the startups with technology that's going to disrupt and take over an entire market.

“I think the question now is can Houston get caught up in the somewhat irrational exuberance so that you as entrepreneurs don’t have to get diluted as much in your investment. My thought is probably not, if I’m being honest.”

— Garrou says of this big-money, all-in approach to venture capital you see on the coasts.

“When you talk about all-female-founded companies, the average valuation is $12 million, and all-male-founded companies, $25.5 million is the average. That’s a female discount.”

— Goldman says, acknowledging that while Houston companies are discounted compared to the coasts, companies with all female founders are also discounted despite making up 17 percent of exits last year.

“VCs have raised larger, and larger funds. With more funds, they have to deploy more money. A lot of them are competing with each other and that drives up valuations.”

— Goldman says, adding that she's heard the VC model being referred to as "broken" on the coasts, and it all comes down to valuations and growing VC funds with too much money.

“Whether or not coronavirus becomes the epidemic that everyone things it will be, what’s happening is it’s correcting the market.”

— Garrou says, comparing the pandemic to the 2008 recession. "I think we have an opportunity. If you look at every single downturn in the market, the greatest companies have come from those downturns," he adds.

“So many people are interested in Houston because they do believe Houston has great deals at more reasonable valuations. It should be really good for founders — it’s just a matter of not comparing yourself to what the coastal companies are getting.”

— Garrou says, adding that what's missing is a sophisticated angel investment foundation. While organizations like the Houston Angel Network and Goose exist, Houston is too big for just what exists now.

“I think one of the important things to do as we are growing the ecosystem is remember that we are not going to be a copy and paste model. We need to do it in our own way.”

— Lewis says about Houston's innovation ecosystem. "What we need to think about and embrace is different models of deploying capital," she says citing Goose as an example. "We need to get creative about that."
GOOSE has invested in a logistics automation startup that has just emerged from stealth-mode operations. Photo courtesy of Outrider

Houston investor group backs growing logistics automation startup emerging from stealth

Money moves

A Golden, Colorado-based logistics technology startup has emerged from stealth-mode operation aft two years of development to collect its recent $53 million investment that a Houston investor group contributed to.

Houston-based GOOSE has announced its participation in Outrider's recent raise, which included both a seed and series A round. The startup has created an autonomous yard operations tool for logistics purposes. The company also received investment from the likes of NEA, 8VC, Koch Disruptive Technologies, Fraser McCombs Capital, Prologis, Inc., Schematic Ventures, Loup Ventures, and more, according to a news release.

The goal of distribution yards is to keep semi-trailers full of freight moving quickly in the space between the warehouse doors and public roads. However, many of the processes that make up yard operations are manual, inefficient, and hazardous.

The current situation in logistics hubs is not optimized, and yard operations are ineffective and even hazardous.

"Logistics yards offer a confined, private-property environment and a set of discrete, repetitive tasks that make the ideal use case for autonomous technology," says Andrew Smith, founder and CEO of Outrider, in the release. "But today's yards are also complex, often chaotic settings, with lots of work that's performed manually. This is why an overarching systems approach – with an autonomous truck at its center – is key to automating every major operation in the yard."

Outrider's technology can automate repetitive and manual tasks, like moving trailers around, hitching and unhitching them, connecting and disconnecting trailer brake lines, and monitoring trailer locations, per the release.

"Outrider represents the type of company we at GOOSE want to fund," says Samantha Lewis, director of GOOSE, in a news release. "It is innovative, disruptive, and led by an all-star CEO that has a proven track record in recruiting top talent and top tier investors. GOOSE has been with Andrew from the beginning of his entrepreneurial pursuits and, still, he continues to impress us everyday."

Outrider, which has 75 employees — including 50 engineers focused on the automation technology — has launched pilots with Georgia-Pacific and four Fortune 200 companies. Smith says his relationship with GOOSE has had a positive effect on his career and his startup.

"The experience of GOOSE membership is unmatched. GOOSE, it's founder Jack Gill, and initial members, Art Ciocca and Rod Canion, played major roles in my entrepreneurial career by funding my first successful clean startup and then becoming seed investors in Outrider," says Smith in the release. "I am fortunate to have the team at GOOSE by our side again as we officially emerge from stealth and continue to scale the business."
As the Houston innovation ecosystem prepares for 2020, InnovationMap's editor looks back on her favorite interviews of this year. Courtesy photos

Editor's picks: 5 best Houston innovation interviews of 2019

2019 in review

Ever since the launch of InnovationMap, the site has featured an innovator weekly. That's over 50 interviews and more than a dozen episodes of the Houston Innovators Podcast, which launched this fall.

As editor of InnovationMap and the host of the Houston Innovators Podcast, I've conducted nearly all of these interviews. And, while parents aren't allowed to pick favorites between their children, I definitely have my favorite interviews. Looking back on this year, I've had the fortune of talking to innovators from all corners of Houston and across industries.

Looking back on 2019, I've plucked out my five favorites, and I thought I'd share why they stood out to me. I'm excited to continue these conversations in 2020 as Houston's innovation ecosystem grows — and as InnovationMap grows with it.

Samantha Lewis, director of The GOOSE Society of Texas

Samantha Lewis

Courtesy of Samantha Lewis

When I think of my favorite conversations I've had this year, Samantha Lewis immediately comes to my mind. If you've ever had the fortune of meeting Sam, you know her as high energy, kind, and full of opinions — all of these qualities make for a great interview, and, in this case, podcast episode.

Samantha's episode of the Houston Innovators Podcast was only the second to be released, but, just due to scheduling, was actually the first episode I ever recorded. And, despite it's early release, is still the most listened to of the 13 that now are available. I credit Sam's candor, poise, and insight for that.

In the episode, Samantha and I discuss GOOSE's recent investments, her advice for startups looking for funding, the state of venture capital in Houston — and how it compares to the two coasts, and more. To read more or stream the episode, click here.

Steven Gonzalez, technology transfer strategist at NASA

Courtesy of NASA

This past summer, the Space City celebrated the 50th anniversary of the moon landing — 50 years since "Houston" was uttered from the surface of the moon. July brought many space celebrations as the city, state, and even country looked back on the legacy of the aerospace industry.

I took this anniversary as a chance to dive into the innovation of the industry on InnovationMap with a series of interviews with various space professionals. I spoke with the general manager of Houston's Spaceport, the founder of a Houston-based space startup, and Rice University's Space Institute director, but my favorite discussion I had about space was with Steven Gonzalez, technology transfer strategist at NASA.

Steven was so interesting to talk to because his job really represents the future of space exploration. As space travel shifts into the commercial space rather than just within the government-backed NASA operations, the need for the sharing of technology, research, and ideas is crucial. Through NASA's technology transfer, Steven is helping that effort. To read our full conversation, click here.

Ody De La Paz, founder of Sensytec

Courtesy of Sensytec

Throughout my now near 15 months at InnovationMap, I've had a growing appreciation of the guts and gumption it takes to take the leap and start a company. I love interviewing entrepreneurs — they all have such different perspectives on similar startup challenges. One of my favorite entrepreneur interviews I had this year was with Ody De La Paz, who founded Sensytec.

Ody started his company when he was an undergrad student at the University of Houston. Most college students just trying to get an entry-level job somewhere — anywhere, but Ody would go on to travel the world pitching — and winning — in competitions for Sensytec's technology, which is smart cement that can communicate risks for potential life-threatening damage.

Ody was my first startup founder guest on the Houston Innovators Podcast, and, if we're keeping track, still is the second most listened to episode behind Sam's episode. To read more or stream the episode, click here.

Harvin Moore, president of Houston Exponential

Courtesy of HX

This year, Houston Exponential — the city's nonprofit organization dedicated to promoting innovation in Houston — hired a new president. Harvin Moore joined the team to take HX into its next stage of attracting tech companies into the ecosystem.

Several months into his position, we sat down to discuss how he was doing and what some of his goals were for the organization. I admire Harvin's passion for the city. A serial entrepreneur and investor, he has a great frame of reference for startups, and his first point of action was to listen — to the ecosystem and its members — for what the city really wants and needs from its innovation leadership.

Our conversation was over an hour and bounced from HX and Houston startups to New York's real estate and the profitability of local journalism. Of course, not all that ended up in the article, but I look forward to seeing what all Harvin has up his sleeves for 2020. To read our full conversation, click here.

Roberta Schwartz, executive vice president and chief innovation officer at Houston Methodist Hospital

Courtesy of Houston Methodist

It's rare that I interview someone for the Featured Innovator section twice. In fact, I've only doubled up three times. Though, I'm sure it will continue to happen as InnovationMap and the Houston Innovators Podcast grows. Roberta Schwartz, executive vice president and chief innovation officer at Houston Methodist Hospital, was one of my interviews I've doubled up on this year — once for a Q&A and once for the Houston Innovators Podcast.

It's pretty easy to find new things to discuss with Roberta. Houston Methodist seems to constantly be launching new technology pilots within the system — from virtual reality in cancer treatment to telemedicine. Plus, just personally, Roberta is extremely interesting. At 27, she was diagnosed with a vicious strand of breast cancer — despite having no family history of the disease.

After getting through some of her early treatments, she co-founded an organization that helps to connect young women who were similarly diagnosed with breast cancer at a young age. I'm 28, and cannot fathom the cancer battle Roberta survived and the foresight she had to create an organization like she did. To read more on our most recent conversation or stream the episode, click here.
Trending this week on InnovationMap is news about a new electric vehicle initiative from the mayor's office, three Houston innovators to know, and more. Photo by PeopleImages

5 most popular innovation stories in Houston this week

What's trending

Editor's note: If you zoned out of Houston innovation news this week — perhaps distracted by baseball post-season games — we've got you covered. Some of the highlights include a new electric vehicle initiative from the mayor's office, updates from The Ion, and the Houstonians with the deepest pockets.

3 Houston innovators to know this week

Samantha Lewis, Tilman Fertitta, and Tiffany Masterson are this week's innovators to know in Houston. Courtesy images

Houston entrepreneurs never cease to impress, leaving a mark on the city for their business minds, creativity, and overall gumption. This week's three innovators to know are no exception.

From a startup venture capitalist and Houston's most recognizable billionaire to a local mom that created — and now sold — a skincare line with a cult following, these are this week's innovative Houstonians to keep an eye on. Continue reading.

Station Houston CEO to lead operations at The Ion

The Rice Management Company has created a new operations organization for The Ion and has selected Gabriella Rowe to lead it. Courtesy of Rice University

A Houston innovation leader is switching sides of the table to support on a highly anticipated entrepreneurial hub.

Rice Management Company has created an operating organization for The Ion and has named Gabriella Rowe as the executive director. Rowe has served as CEO of Station Houston since August 2018. The Ion, which broke ground on the site of the Midtown Sears building in July, is expected to deliver early 2021. Continue reading.

Houston billionaires named to Forbes' list of richest Americans for 2019

Pipeline mogul and Memorial Park benefactor Richard Kinder (pictured with his wife, Nancy) leads the Houston billionaires. Photo by Michelle Watson/Catchlight Group

Who's the richest person in Texas? That title once again goes to Walmart heiress Alice Walton, of Fort Worth, according to the newly released Forbes 400 ranking. But seven very wealthy Houstonians also appear on the list of the 400 richest people in the country right now.

The top Houstonian on the list is Houston pipeline mogul Richard Kinder, who is tied with another Walmart heiress, Ann Walton Kroenke, for sixth place in Texas and No. 67 nationally. Forbes estimates they're each worth $7.5 billion. Continue reading.

Mayor announces major effort to reduce emissions on Houston's roadways

Through increasing awareness, affordability, and accessibility, the city of Houston hopes to grow the number of electric vehicles on Houston roads by 2030. Courtesy of EVolve Houston

The city of Houston has taken a major step toward reducing carbon emissions caused by its estimated 1.3 million vehicles that drive the city's streets daily.

Mayor Sylvester Turner announced a new partnership between the government, local businesses, and academic leaders that has created EVolve Houston. The coalition is aimed at boosting electric vehicle sales to 30 percent of new car sales in Houston by 2030. Continue reading.

A Houston entrepreneur is thinking out of the box with smart lockers for food and personal items

Dommonic Nelson wants to make sure everyone's lunches are safe. Photo via cleverboxcompany.com

Someone kept taking Dommonic Nelson's lunch. A Texas Southern University student living at home and commuting from Greenspoint, Nelson only had a few minutes to scarf down his lunches between studying Maritime Transportation. But regularly, he'd reach into the community refrigerator on campus, only to find, well, nothing.

One night, Nelson was in the shower, wondering why his lunch had been taken again, and the long journey to Clever Box Co. began. He barged into his grandfather's room — it was 2:40 in the morning — and told him he had an idea for a series of high-tech boxes designed for storing various things. The boxes could keep personal items (the Stash Box) and packages (the Happy Box) in large companies and coworking spaces, and for people to quickly pick up their food from restaurants without having to wait in line (the Yummy Box). If Nelson couldn't get his lunches back, he was going to make an entire business on making sure no one got stolen from again. Continue reading.
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Houston energy tech investment group rebrands to address sustainability

Seeing green

As the pandemic took its hold on the economy and the energy industry's commodity crisis did its damage, Patrick Lewis understandably assumed that maybe sustainability initiatives might be on the back burner for his network of energy companies.

"We thought we would hear that sustainability in this environment may have slipped down the priority list, but it was the exact opposite," Lewis says. "Pretty consistently across all the operators, sustainability, reducing emissions, and greenhouse gases — those are all even more important today."

This confirmation that the energy industry is committed to innovative sustainability projects led Lewis to rebrand his energy tech investment group from BBL Ventures to Sustainability Ventures Group, or SVG. The investment team focuses on reverse engineering the startup innovation process by sourcing the concerns and goals of the energy companies, then finding solutions from the startup world through reverse pitch competitions and challenges.

"We're not fundamentally changing our business model or investment strategy, but we just wanted to make sure our messaging was crystal clear," Lewis tells InnovationMap.

Lewis says he and his team really thought through the definition of sustainability, and he specifies that, "we're not doing this to go chase solar or wind power — those are on the table — but we think there are two primary opportunities: Digital transformation and emerging technologies in the existing fossil fuel industry," Lewis says.

He adds that oil and gas is going to be around for a long time still, and he cites that by 2040, it's predicted that 40 percent of energy will still come from fossil fuels. It's the big energy companies and providers — which he's working with — that have the power to move the needle on these changes.

"We think there's a real opportunity to pursue efficiencies and reduce emissions and footprint in that existing traditional oil and gas sector," he says.

Earlier this year, Lewis was addressing these concerns by working on standing up a group of industry experts for regular meetings to discuss innovation needs. What started as a call with a handful of people, now hosts 40 people across 14 energy operator and major tech platforms.

"The whole purpose of this group is to share best practices, collaborate on common pain points, risk manage pilots," Lewis says. "We continue to build that group — it's going to be a nonprofit governed by a steering committee."

While SVG has held off on its reverse pitch events, the organization along with the University of Houston Center for Carbon Management submitted a proposal to host the National Science Foundation's Convergence Acceleratoronvergence Accelerator virtual conference at the end of September.

"The goal is to bring together multidisciplinary stakeholders — industry, nonprofit, academics, NGOs, public policy experts — to solve big problems," Lewis says. "Sustainability is a problem they really want to address."

Rice University's data-focused lab presents unique opportunity for startups and small businesses

data to knowlege

A data-focused lab a Rice University is training the next generation of data scientists. However, the students at the Rice D2K Lab are doing more than just learning about the significance of data, machine learning, and artificial intelligence — they're working as data scientists now.

Businesses — large and small — can come into the lab and have Rice students and staff work on data projects in both short-term and long-term capacity. One semester, a group of students worked with 311 call data for the city of Houston so that officials can figure out what parts of town were in the most need of support, says Jennifer Sanders, program administrator at the Rice D2K lab.

"They were able to show on a Houston map the areas where most of these 311 calls were coming from," Sanders tells InnovationMap. "That allowed the city to focus on those areas."

Lately, the lab has been focused on a several COVID-19 Houston Response Projects, which addressed issues ranging from homelessness in the time of a pandemic, ventilator distribution, and more. One team even made a recommendation to the city after a data project determined that adding five ambulances to southwest neighborhoods served by the Houston Fire Department Emergency Medical Services program would optimize response times.

The lab has two avenues to help businesses: a semester-long capstone course and a clinic for one-time sessions. This upcoming semester, the capstone course has 60 students signed up to work on 10 to 12 projects from corporate sponsors. These lab members — which support the program monetarily — are selected based on their fit within the program.

The D2K Consulting Clinic also offers free one-hour sessions on campus. At the clinic, students look at the data and assess the possibilities and advise on how to use that data for business gain or growth.

"The consulting clinic can be a starting point if a business is not sure what to do with their data," says Shanna Jin, communications and marketing specialist at the D2K Lab.

The clinic also presents a special opportunity for small businesses and startups, a niche Sanders says they haven't tapped into enough yet. She says most of the companies they've worked with are larger organizations, usually in the energy industry.

"We really want to broaden the scope to smaller startups, tech companies, and nonprofits," Sanders says. "We really don't have to limit ourselves. I would really love to expand our reach."

Membership dues for companies, which provides a more structured, long-term access to data consulting, range from $25,000 to $75,000 a year. However, Sanders says the lab is willing to work with startups on a cost that's more accessible.

Ultimately, the goal of the program is to connect the dots for businesses that have data and don't know how to use it.

"To realize the potential of big data, we need people — people who can transform data to knowledge," says the lab's founder, Genevera Allen, in a promotional video. "That's what we're doing with the Rice D2K Lab."

UH: How biotech companies are withstanding the pandemic

Houston voices

At a time when the business world is reeling, biotech companies are still hanging on. Many biotech startups have successfully pivoted their entire platforms to focus on coronavirus-related work.

Of course, these companies aren't without their struggles. Clinical trials have come to a pause, finding investors has become more difficult and financing rounds have been surceased.

Even then, there are many biotech startups that have managed to snag government loans via the Paycheck Protection Program among other financial assistance. According to Vivian Doelling, the vice president of emerging company development at the North Carolina Biotechnology Center, COVID-19 has not impacted the bio science industry as much as it has others.

"Some of the smaller biotech companies have pivoted research to be more COVID-centric. This is also true particularly for companies with open platforms or who were developing products in the antiviral space," Doelling told BioSpace, an online biotech publication.

"To add to that, there are research organizations that are receiving more pandemic-centric business from biotech. And that includes clinical trial work," she continued.

Ongoing biotech challenges

It's no surprise that there have been some concerns regarding the delay of clinical trials for products that have nothing to do with coronavirus. It is feared that the delays might create product pipeline problems in the long run. See, companies usually file patent applications before trials even start. So, delays in clinical trials, according to Doelling, "could take up a big chunk of the time in which treatments can have patent exclusivity before generic competition intensifies."

Delays negatively impact smaller biotech startups. These startups' futures typically rely on the success rate of trial outcomes. Any delay in these trials subsequently hurts the small biotech startup. But, even then, the pandemic still doesn't seem to be affecting these startups.

Investment blues

"The expectation is investors are going to hold back more funds than they projected for their portfolio companies. There could be less funding available for new investments," expressed Doelling. However, it is her belief that biotech companies are hot investments right now, and sees new investments on the horizon.

"Investors are cautious at the moment," said Marty Rosendale, the CEO of the Maryland Tech Council, to BioSpace. "They're going to analyze their own portfolio to make sure those companies are solid."

Rosendale, echoing Doelling's investment concerns, says investors want to be more careful right now. They are making it a point to invest less money, which makes it difficult for startups seeking funding.

Keep on keeping on

Many startups are continuing to operate because they've found their rhythm in the virtual workplace. "I have not come across any biotech startup that has closed its doors during the pandemic," Rosendale said. "Sure, some have faced delays and temporarily stopped operations, but overall, haven't heard of any closing for good."

There are a few forces at play when it comes to helping biotech startups stay afloat during the pandemic storm. Landlords are forgiving rent and government loans are helping companies pay employees. "I know of companies that have been out there fundraising since the beginning of the COVID crisis. And they're still out there doing it," Rosendale said. "But I still haven't heard of one company that was forced to end or even delay a round of funding, not one."

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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.

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