Serial entrepreneur launches new fund to support Houston's East End community development

HOUSTON INNOVATORS PODCAST EPISODE 193

Erik Ibarra's latest venture is to give agency to residents in the neighborhood he grew up in. Photo courtesy

Innovation isn't always tinkering with tech or programming software, although serial entrepreneur Erik Ibarra knows that world well. Sometimes it's about rethinking how a community improves and develops without doing the residents a disservice.

That's why Ibarra started Magnolia Fund, a mission-driven investment fund dedicated to enriching the East End community and preserving the neighborhood's culture and history. Ibarra, who has lived in the area the majority of his life, says on the Houston Innovators Podcast, that he's looking to turn residents into investors.

"Our investors from the neighborhood, today they walk around and look at their house and say, 'I own that,' and that's great," Ibarra says. "In the future, our investors should be able to say that, and then point to a building and say, 'I own a portion of that building too. And I helped that small business over there.'"

Ibarra explains that he's seen the East End area evolve a lot, and he wants to create a way to make sure residents are a part of that evolution and aren't being left behind in that process.

"Over the years, I've felt like there's so much development going on. But, the people from the neighborhood are very often just passive — they don't get a chance to benefit from or think about how they could participate in these new developments," Ibarra says. "The neighborhood is very close to my heart, and, about a year ago, I realized I wanted to do something about this."

The limited partners of the Magnolia Fund will contribute as investors, and then Ibarra and his team will identify a worthy development to take control of. As he explains, the vision for the property is "La Sala," a living room for the community, with an open area for communing, a kitchen incubator for food entrepreneurs, and an outdoor patio and stage for music and events.

While this is his first foray into the investor side of the equation, Ibarra has been an entrepreneur in Houston since the early 2000s. He's been an active mentor to startup founders, and has seen the ecosystem develop as he's started and grown his businesses.

He's currently the founder and CEO of ORDRS, a digital health platform for optimized lab testing founded in 2018. The company's B2B platform enables health care providers to better manage lab testing, and Ibarra says ORDRS saw a lot of growth during the pandemic. Something he's passionate about with this venture is the ability to provide better access and information about lab testing to patients.

"As a company we strive for transparency in health care," Ibarra says. "If we could provide instant access to a menu of tests for our customers, ... then hopefully our customers can pass those savings on to those customers. Access to testing is important. Access to the transparency in pricing is equally important."

Ibarra shares more about ORDRS, his role as a mentor, and his vision for the fund on the podcast. Listen to the interview below — or wherever you stream your podcasts — and subscribe for weekly episodes.


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Words of wisdom from a founder who's done this all before. And then again. And again. Photo via Getty Images

4 lessons learned from this Houston-based serial entrepreneur

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A true test to determine if you are an entrepreneur is knowing if you can recognize your failures. From the outside, we often think of every business leader as having a resume of success stories. You see CEOs in magazines, on television, and in the news, but what you don’t always see is their often-endless list of ideas and decisions that simply didn’t work. Those failures may include a startup that didn’t launch or a key decision that went sideways. Either way, these missteps are often there if you listen to their stories or look hard enough.

I’m not immune to making mistakes. As a serial entrepreneur and having started, led, and mentored various successful companies, I have made some mistakes and have been lucky enough to learn from them. Below is a list of key takeaways I’ve compiled from years of learning.

1. Know what kind of entrepreneur you are.

Before you even get to the service or product that you want to create, learn a little bit about who you are as a leader. Check out a BOSI assessment online to help you determine if you are a Builder, Opportunist, Specialist, or Innovator. Knowing and utilizing your strengths as well as looking for help with your weaknesses will take you far. This also will make a big difference if you are searching for a co-founder. When I started Pinot’s Palette, my co-founder and I both were strong Builders. Without understanding this ahead of time, we ended up wasting time and money overbuilding features that didn’t need to be perfected pre-launch. Looking back, we could have benefited from adding an Opportunist to our team early on and focusing our time on our strengths.

2. You pay for experience….one way or another.

I can’t take full credit for this lesson. My mentor, Dr. Al Napier, shared this sentiment with me years ago. The concept is that you will either pay an in-house expert or consultant early on or you will pay for the mistakes you make with scar tissue. Sometimes, those mistakes can be detrimental. Of course, there’s a time and place to spend money and you don’t want to overspend early, but you need to balance bootstrapping with deploying capital to prevent a game-ending error.

3. Truly understand your vision and how to implement it. 

Staying focused isn’t always easy. You have an idea, but how do you get from step 1 to success? It’s easy to get off track and go down the wrong path – a critical error! As Lori Clements taught me, utilizing EOS (Entrepreneurial Operating System) to organize your vision and stay disciplined will ultimately help you become a better leader. I started working with an EOS coach back in my Pinot’s Palette days and it was a game-changer for how we solved problems. Now, I recommend it to every budding entrepreneur.

4. Build your support network early.

Having a support system in every aspect of life is important. In business, having the right people to lean on and run ideas by can be vital. For each business that I’ve started, there have been emotional and mental hardships to work through. You have your business “baby” and often employees leaning on you to make the right decisions. You can find a professional network through your alumni groups or just seek out other entrepreneurs also going through a similar phase in their business.

Ultimately, you need to be mentally prepared, knowing there will be ups and downs in your business. There is no way to prevent all errors but hopefully turning the mistakes into lessons is what defines leaders.

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Craig Ceccanti is a serial entrepreneur and has co-founded Houston-based Rivalry Technologies and Pinot's Palette. He is the founder, president, and CEO of T-Minus Solutions, a software company.

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Overheard: Houston Innovation Awards finalists share top advice for fellow founders

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The startup journey is a long and winding road, and there's many ways to navigate it. Fifteen of this year's finalists have shared what their most valuable startup advice for their fellow Houston founders.

From the importance of mentorship to tips for female and BIPOC founders, these pearls of wisdom come directly from a selection of finalists across a handful of categories, including DEI Champion, BIPOC-Owned Business, Female-Owned Business, and Mentor of the Year.

Read these excerpts of advice from Houston's innovation community's top startup founders and supporters.

Click here to secure your tickets to the November 8 event where we'll name the 2023 Houston Innovation Awards winners.

"Be comfortable with asking for and accepting help. This journey is a marathon, not a sprint, but helping yourself with supportive people around is critical." — Cameron Carter of Rosarium Health, a BIPOC-Owned Business finalist

"Underrepresented founders often have trouble asking for what they want or deserve. ... Don't be scared to ask for what you want, or what you believe you deserve." — Pedro Silva of Milkify, a BIPOC-Owned Business finalist

"It's not 'fake it' until you make it. It's 'take it' until you make it. Be proud to be you." — Pamela Singh of CaseCTRL, a BIPOC-Owned Business finalist

"When starting a company, remember it’s a game of attrition. The best way to last longer than your nearest neighbor is to find your tribe." — Aaron Fitzgerald of Mars Materials, a BIPOC-Owned Business finalist

"Know your worth and add tax. Choose your partners wisely — at home and work. Invest in the best stock you own: YOU." — Katie Mehnert of ALLY Energy, a Female-Owned Business finalist

"Whatever battle you're fighting now that no one knows about — go ahead and WIN the war." — Shoshi Kaganovsky of Feelit Technologies, a Female-Owned Business finalist

"My advice would be to find truly effective mentors who are willing to open up their network for you. It doesn't matter if the mentors are men or women — what matters is that they genuinely care about your professional success and who you are as a person." — Tatiana Fofanova of Koda Healthcare, a Female-Owned Business finalist

"Remember...There are a BILLION ways to apply sunscreen, but no matter how you apply it, it ALL protects you from the sun. Like sunscreen, there are infinite ways to succeed in the startup world. Trust your gut, stick to your vision, and keep trying until you find what works for you. ... Your purpose and vision should be your North Star, guiding decisions in team-building, coaching, and creating a company culture. Stick to that purpose—it's what will drive you through the rollercoaster of entrepreneurship." — Emily Cisek of The Postage, a Female-Owned Business finalist

"First and foremost, embrace your uniqueness. As a woman of color, you bring a distinctive perspective to the table. Your background is not just a part of who you are; it's a strength that sets you apart in a male-dominated industry. ... Resilience is your greatest ally. Challenges will arise, and it's okay to acknowledge them. What matters most is how you respond. Each obstacle is an opportunity for growth and learning. ... Lastly, trust yourself. You are not just running a business; you are shaping a narrative of empowerment and change." — Ghazal Qureshi of UpBrainery Technologies, a Female-Owned Business finalist

"Figure out, learn, and understand your mission inside and out and use it to make all your major business (and sometimes personal) decisions." — LaGina R Harris, founder and CEO of The Us Space and Mentor of the Year finalist

"Know your value and continue advocating for inclusion." — Janice Tran of Kanin Energy, a BIPOC-Owned Business finalist

"Be your true, authentic self. There are going to be some people that like what you are doing, and there's going to be some people that don't, but the biggest thing is being true to who you are, and that's always going to flourish more than being who someone else wants you to be." — Muriel Foster, director of gBETA Houston and Mentor of the Year finalist

"Until you hire someone, you are the one wearing the product manager hat. You've got to love the problem more than the solution." — Wade Pinder, founder of Product Houston and Mentor of the Year finalist

"Be the person your younger self needed. Representation really does matter. Be a listening ear, share your lessons, and allow people to blossom under your leadership." — Michelle Ngome, founder and president of the African American Marketing Association and DEI Champion finalist

"Embrace your unique perspective as a source of strength and innovation. ... In Houston's dynamic startup scene, your presence and contributions as a traditionally marginalized founder or investor are essential for driving innovation and diversity. By staying resilient, seeking support, and advocating for inclusivity, you can navigate the entrepreneurial journey and make a lasting impact on both your business and the broader community." — Jessica Adebiyi, diversity and professional development director at Womble Bond Dickinson and DEI Champion finalist

Innovation and new business incubation at the University of Houston’s Technology Bridge is on a roll

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When Jacob Thomas first came to the University of Houston’s Technology Bridge in 2016, he knew it was the perfect incubator space to grow his company, Alchemy Sciences. The excellent support infrastructure enabled the fledgling oil recovery business to focus on improving its technology, product and business development, and operations.

“Technology Bridge also had the advantage of being located at a premier, research-focused university that afforded the opportunity to collaborate not just with other startups but with groundbreaking innovators on campus,” Thomas says.

And when Hadi Ghasemi, an associate professor in the UH Cullen College of Engineering, launched Elemental Coatings for his revolutionary anti-icing material in 2019, his ideal space was literally minutes from his campus laboratory.

“We have one of the best spaces in town right here near campus,” he says. “From a ready-made workforce to the facilities, it was a unique opportunity that was perfect for us.”

Thomas and Ghasemi aren’t alone in their assessments. They are part of a booming community of entrepreneurs setting up shop in Technology Bridge, Houston’s premier innovation park for technology commercialization, industrial partnerships, and startup development, located adjacent to the UH campus along the Gulf Freeway.

Connecting people and ideas

UH prides itself on spurring innovation, from the first spark of an idea to the transfer of knowledge and technology. The University is home to the nation’s top-ranked undergraduate entrepreneurship program and is one of the top 25 royalty-earning universities in the United States. And for seven of the past eight years, UH has ranked among the top 100 global universities for the number of utility patents issued.

Tanu Chatterji, the associate director of startup development at Technology Bridge, includes those accolades in her pitch to prospective tenants. But it’s the wealth of established relationships with UH researchers and potential employees already on campus that is the biggest selling point.

“If you are looking to grow a company and plug into a major ecosystem, Technology Bridge is where you want to be. You have access to the talent, expertise, facilities, and resources you need to be successful,” says Chatterji, noting that UH is a Carnegie-designated Tier One research university with 35 faculty members in the National Academy of Inventors.

"The students, faculty and resources at the heart of our ecosystem set us apart from everyone else," says Ramanan Krishnamoorti, UH vice president of energy and innovation.

Right now, Technology Bridge has more than 20 companies utilizing a wealth of amenities, including private and shared incubator lab spaces designed to support chemical, mechanical, and life sciences startups.

The Innovation Center features large, fully equipped and furnished office spaces with open and private areas, conference rooms and collaborative meeting areas, and a common kitchen area.

Additionally, startups receive unmatched access to UH faculty, one-on-one mentorship opportunities, and the full support of the UH Office of Technology Transfer and Innovation to help with funding, workshops, grant development, and commercialization.

“This is an innovation environment that is unique to Houston. We’re all about connecting people and ideas,” Chatterji says.

A community for innovators

To access the benefits of Technology Bridge and enjoy its competitive rental rates, companies are required to fulfill certain criteria. This includes committing to a minimum one-year contract and actively engaging with the UH innovation community at one of three levels: hiring university talent, working collaboratively on projects with faculty or sponsoring research, or commercializing UH intellectual property.

“We’re not looking to give out cheap space to anyone who’s just going to move out in three years,” Chatterji says. “We really want the right partners on board to help us cultivate this ecosystem.”

Technology Bridge is home to a diverse mix of companies, comprising both external organizations and spinoffs founded by faculty, graduate students, and staff. While some ventures are still in the early stages, actively seeking funding and assembling their teams, a handful have already reached the exciting milestone of selling products and are preparing to transition into larger, more permanent facilities.

“The higher the engagement, the higher the discount they get on their lease,” Chatterji says. “On the flip side, there’s incentive for UH to keep these companies within our family so we get to share new ideas and innovations and they can mentor our faculty and students.”

Building for the future

It’s not only innovators who are taking notice of the remarkable developments happening at Technology Bridge.

U.S. Rep. Sylvia Garcia, who represents Texas’29th congressional district where Technology Bridge is located, helped secure nearly $3 million in federal funding for infrastructure improvements that will further grow its position as a leader in Houston’s innovation space.

“We have a lot of momentum at Technology Bridge as we continue to support Houston’s growing innovation economy,” says Ramanan Krishnamoorti, vice president of energy and innovation at UH. “We’re building great partnerships and providing these startups with everything they need to commercialize technologies and be successful.”

Most of the $2.875 million will benefit the UH Industry & International Innovation Hub (UHI), a planned center for industry partner engagement with an investor and mentoring studio and event space.

It will also increase onsite industry and startup capacity and establish workforce development and training rooms. The remaining money will be used to establish The Deck Innovation & Coworking Center, with eight new private offices that will increase lease revenue by a projected 150 percent. The entire project is expected to increase capacity by more than 20 companies.

“No other space in Houston has what we have,” adds Krishnamoorti. “It’s not just the Tech Bridge, it’s the University of Houston Tech Bridge. The students, faculty, and resources at the heart of our ecosystem set us apart from everyone else.”

Success stories

In recent years, startups at Technology Bridge have developed innovations in advanced materials, pharmaceuticals, and food and agriculture, as well as infrastructure and construction, optometry, medical devices, and computer software.

Among their accomplishments are hundreds of groundbreaking inventions such as a plant-based polymer with the potential to replace petroleum-based plastics and revolutionary therapeutics that have had a profound impact on patients worldwide, offering treatments for cancer, Alzheimer’s disease, and epilepsy.

Thomas’ Alchemy Sciences, renowned for its portfolio of products that enhance the efficiency of oil and gas production in multiple basins across the United States, is now embarking on the early stages of expansion to Latin America. The company recently graduated from Technology Bridge, moving into a larger space to accommodate its growing operations.

“An incubation ecosystem like this is essential for technology startups as they begin their journey” Thomas says. “The proactive staff, modern lab facilities, and associated support system enabled us to conduct experimental work efficiently and was key to our growth over the past five years.”

Elemental Coatings, a company founded on technology pioneered by Ghasemi at his UH lab, produces anti-icing surfaces with exceptional durability, even in the harshest environmental conditions. After four years at Technology Bridge, Ghasemi said the company will double its workforce and move into a bigger facility early next year.

“When we started this journey, there were maybe two companies at Technology Bridge, so it’s been amazing to see this growth,” says Ghasemi. “Access to a knowledgeable workforce, along with the facilities and support for intellectual property protections and patents, was essential for us and is crucial for any startup.”

3 Houston innovators to know this week

who's who

Editor's note: In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries — from software to biotech — recently making headlines in Houston innovation.


Gaurab Chakrabarti, CEO and co-founder of Solugen

Solugen has announced two major partnerships. Photo via solugentech.com

Solugen had a busy week. The Houston-based company that makes sustainable chemicals announced two new partnerships.

Solugen and Sasol Chemicals, a business unit of Saslo Ltd., revealed that they are working together to explore commercialization of sustainably-made home and personal care products. Read more.

Later last week, Solugen announced that it has scored a partnership with ADM to build a biomanufacturing facility adjacent to an existing corn complex in Marshall, Minnesota. Read more.

Andy Grolnick, CEO of Graylog

Graylog, a Houston SaaS company, has new fuel to scale and develop its product. Photo via Graylog

A Houston software-as-a-service company has secured $39 million in financing and announced its latest upgrade to its platform.

Graylog, which has created an innovative platform for cybersecurity and IT operations, raised equity funding with participation from new investor Silver Lake Waterman and existing investors Piper Sandler Merchant Banking and Harbert Growth Partners leading the round.

“The growth we are seeing globally is a response to our team’s focus on innovation, a superior user experience, low total cost of ownership, and strong execution from our Go-To-Market and Customer Success teams,” Andy Grolnick, CEO of Graylog, says in a news release. “We expect this momentum to continue as Graylog expands its reach and raises its profile in the security market.” Read more.

Stuart Corr, executive director of Pumps & Pipes

A Houston expert shares reasons to swap screen time for extended reality. Photo via pumpsandpipes.org

Virtual and augmented reality are having a moment, as Stuart Corr, executive director of Pumps & Pipes, explains in a guest column for InnovationMap.

"The COVID-19 pandemic saw an unprecedented shift to even more screen time and interactions using remote video communication platforms," he writes. "It was also around this time that wireless virtual reality headsets were, for the first time ever, economically accessible to the consumer due to the large push of one multinational corporation. Fast forward to 2023, there are even more companies beginning to enter the market with new extended reality (XR) headsets (i.e. virtual, mixed, and augmented reality) that offer spatial computing – the ability for computers to blend into the physical worlds (amongst other things)."Read more.

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