Houston expert: How to navigate the innovation journey — from PoC to MVP

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This Houston expert describes the main phases central to any innovation journey. Photo courtesy of Slalom

As a technologist, one thing I learned early in my career about the technology landscape is its constant improvements and I understood that companies who kept up with those changes remain successful and competitive. However, only companies mastering a disciplined innovation framework are truly able to harness the power of emerging tech to help them solve their most complex business challenges.

Innovative solutions come in all shapes and sizes, but not all of them should come to life. Specifically, when considering digital solutions, there are a few widely accepted innovation approaches in the product engineering field. This quick guide describes the main phases central to any innovation journey.

Feasibility Study

Ideating can be fun but executing a feasibility study will ground you on what will work and what may still be science fiction. The thought here is to spend two to four weeks doing research and talking to experts to answer a few key questions that will help you determine the feasibility of your idea or concept. Through the study, you will learn how to look at it from both a technology and a business perspective. More importantly, to answer the question 'Is it even possible to accomplish your goal with this technology?'

A subject matter expert (SME) will quickly tell you yes or no and why. If you find the technology is indeed suitable, then you will move on to evaluate the business feasibility. Does it make financial sense? Does it work within established business policies? Will there be a healthy Return On Investment (ROI) within an acceptable timeline? If you find positive responses to those questions, then you should feel confident to move on to a Proof of Concept (PoC) or even jump to a Minimum Viable Product (MVP). On the other hand, if either the technology is not feasible or the solution doesn't make business sense, then you've just saved yourself a lot of time, budget, and possibly headaches.

Proof of Concept

This phase is about testing the theory and proving the hypothesis, technically speaking. You'll need to go through a Proof of Concept if the technology solution you have in mind hasn't been tested in either a lab setting or in the field. Thinking outside of the box and innovating is all about trying new approaches and solving problems in a novel way, so you'll have to spend the time and budget ensuring it will work as expected. However, you must be very careful to not get carried away.

A proper PoC should take four to six weeks, max. It should help you quickly determine whether the technology will live up to its promise or if you need to pivot to another approach. Building a team with the right skillset is vital to this process because they are the ones evaluating the proposed solution and comparing it to the expected outcomes. Any signs of discord should empower the team to stop the project, saving further investment, and should help you decide if another approach is even possible. If all criteria has been met, then move on to the MVP stage.

Minimum Viable Product

At this point, you have confirmed the solution you imagined works and you are ready to unlock its potential. But you must start small. You must prioritize all the features you want this product to have and decide what the core functionality should be. This is important because if you choose too many features to start with, you may initially spend too much money and time and may even miss a window of business opportunity you may have lined up. Hence the name of the MVP, it is a product that employs the minimum time, money, and features while still being a viable product.

In summary, if you have an innovative idea for a technology solution, I recommend you first determine whether it's feasible, both technology and business wise, through a short and focused study. If feasible, then you can put that concept to the test through a PoC and determine its desirability. If this product is indeed desirable, then moving into building an MVP will help you understand its viability – and that is how you can successfully innovate while keeping risks at bay.


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Alfredo Arvide is the director for the products and innovation practice at Slalom Consulting in Houston, where he helps clients solve their most complex business challenges by leveraging emerging technologies and applying innovative technology solutions.

This week's roundup of Houston innovators includes Alfredo Arvide of Slalom Consulting, Allison Post of the Texas Heart Institute, and Jeff Price of Pronto Pay. Courtesy photos

3 Houston innovators to know this week

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Editor's note: In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries — tech consulting, health care, and fintech — recently making headlines in Houston innovation.

Alfredo Arvide, senior principal within product engineering at Slalom Consulting

Should you launch an app? Or just a web page? This consultant weighs in with his advice. Photo courtesy of Slalom

Tech founders have a lot of decisions to make, and Alfredo Arvide of Slalom Consulting wrote a guest column for InnovationMap to help advise on a big one.

"One of the biggest decisions you'll have to make as an entrepreneur is whether you should host your product or service on the web, via an app, or through a webapp," he writes. "Product development has a million intricacies that will dictate – and sometimes demand – a specific route to market." Read more.

Allison Post, manager of innovation partnerships at the Texas Heart Institute

Allison Post joins the Houston Innovators Podcast to share what she's focused on in cardiac innovation. Photo courtesy of THI

In a perfect world, Houston's health care institutions work collaboratively on innovative health care solutions and the city soars as a major hub for life science innovation. That perfect world is Allison Post's goal. As Texas Heart Institute's manager of innovation partnerships, she is in charge of supporting THI innovators and connecting the institute with the rest of the city.

"I only see just phenomenal things for Houston, and what I really want is for the Texas Medical Center to become even more interconnected. We've got to be able to transfer ideas and thoughts and intentions seamlessly between these institutions and right now there are a lot of barriers," Post says. "And I really think Texas Heart is hopefully going to serve as an example of how to take down those barriers." Read more and stream the episode.

Jeff Price, founder and CEO of Pronto Pay

This Houston startup has an app for helping employees get a portion of their paychecks before payday. Photo via Pexels

So much of the country lives paycheck to paycheck, and Jeff Price saw a business opportunity to help out employees who need an advance on their wages. He founded Pronto Pay in the first quarter of 2021. The software aims to connect hourly works with transparent access to wages earned before pay day without disrupting the employers' books.

"When you think about it, payroll hasn't changed in nearly two centuries. As far as we can remember, you get paid weekly or bi-weekly. And that's precisely the point we're trying to solve," Price says. Read more.

Should you launch an app? Or just a web page? This consultant weighs in with his advice. Photo courtesy of Slalom

Web page or app? Houston expert shares his tips for launching your online platform

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One of the biggest decisions you'll have to make as an entrepreneur is whether you should host your product or service on the web, via an app, or through a webapp. In this quick guide, I'll go over a few tips to help you narrow down the options and make an informed decision.

First, allow me to explain each of these terms. In this context, I am assuming your big idea is either a product or service which your customer base will consume in a digital format. The question is, do you deliver your product or service via a regular webpage (web), does it require robust native application functionality (app), or can it be a hybrid model where the app runs on browser (webapp).

Certainly, if you can sell your product or services through a simple online store, then the debate is over: you should just web. If you are just selling a new gadget, for example, you don't need an app nor a webapp. E-Commerce has come such a long way that a simple webpage will suffice.

However, if that is not your situation, then here's three main considerations to help you decide between building an app or a webapp.

Native hardware required

If your product or service will use a hardware component from your audience's mobile device or tablet, such as the GPS, the Camera, the Microphone, or the Gyroscope, then you should heavily lean towards building a native app.

There are web frameworks that will allow you to gain access to a devices' camera or GPS via a webapp, but none are as stable, reliable, or robust as using a native app framework.

The question then becomes, what operating system do you develop your native app in: Apple's iOS, Google's Android, Microsoft's Windows, other or all of them?

Keep in mind there are platforms – such as Xamarin – that enable you to develop in multiple native app ecosystems simultaneously, however, deciding the platform(s) will affect your timeline, budget and audience reach. Also know that if your product or service can or should be accessible offline, then that reinforces your native app decision and eliminates a webapp given they require connectivity to run on a browser.

Universal adoption expected

In contrast, if you are looking to sign-up a broad audience then you should lean towards building a webapp.

All devices, whether mobile, tablets or laptops, have sophisticated and modern web browsers that can easily run webapps. Therefore, if you don't want to worry about deciding between different platforms, then by building a universal webapp that is compatible with all popular browsers all your users will have immediate access.

This route also bypasses all the requirements you must meet and the policies you must comply with to publish your native app to communities such as Apple's App Store or Google Play.

Even better you can update and maintain your webapp at your own pace, not having to rely on Apple's or Google's approval and publish/update schedules.

Investment tolerance 

Now, if you gathered major seed funding or hit it big in a series A round giving you a higher upfront investment tolerance, then I'd advise you to go the native app route.

The aforementioned Apple and Google native app marketplaces, albeit strict, offer amazing features that you would not be able to leverage going the webapp route. Your customer experience will almost certainly be higher going native app, which will increase your ROI, promote repeat subscribers and overall success.

But this route will be more expensive than webapp, especially if you do decide to offer it on multiple major platforms. Hence, if you have the budget, go for it and launch natively. If your investment tolerance is more reserved, then start with a webapp, and simply iterate until you are forced to go native.

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This quick guide is by no means an exhaustive list of considerations. Product development has a million intricacies that will dictate – and sometimes demand – a specific route to market. Yet, if you ask yourself a few of the questions I laid out, you will be able to make an informed decision guiding your commercialization strategy as you kick off your startup journey.

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Alfredo Arvide is a senior principal within product engineering at Slalom Consulting in Houston, where he helps clients tackle their most complex business challenges by applying innovative technology solutions.

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Houston med device startup raises $18M, prepares to hire

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A Houston medical device company that is developing an artificial heart announced it has received investment funding to the tune of $18 million.

BiVACOR's investment round was led by Boston-based Cormorant Asset Management and Australia's OneVentures's Healthcare Fund III. According to the company, the funding will be deployed to continue research and development, hiring executives, and support the path to first in human trials.

“We are extremely grateful for the ongoing support from our core investors," says Thomas Vassiliades, who was named CEO of BiVACOR last year, in a news release. "This additional commitment further validates our technology and the need for improved options to treat end-stage biventricular heart failure.

“With this financing, we will be able to double the size of our organization and add key positions from the C-suite to research and development. We are well positioned to advance our preclinical activities and aim to conduct our First in Human early feasibility study planned for the end of the year,” he continues.

Billed as the first long-term treatment for patients with severe biventricular heart failure, the BiVACOR Total Artificial Heart is an implantable artificial heart that utilizes rotary blood pump technology. This technology includes magnetic levitation and is a "durable, reliable, and biocompatible heart replacement," per the company's release. It's about the size of a fist and can be used in a wide range of patients including some children and women and up to adult males.

“Under the leadership of its expert management team, the company has developed a credible strategy for growth as they march toward first in human studies,” says Jeannie Joughin, board chair and principal at One Ventures, in the release. “There is a huge gap in care for patients waiting for a heart transplant, and we are confident that BiVACOR will continue to execute its strategy to swiftly get the Total Artificial Heart into the patients who need it most.”

The company raised its $22 million series B round in early 2021, which was also led by Cormorant Asset Management and OneVentures. To date, BiVACOR has raised $60 million.

“BiVACOR continues to execute on its strategy, and there was no question that we would jump in to lead this funding,” says Bihua Chen, CEO and founder of Cormorant Asset Management. “We are impressed by BiVACOR’s world-class team and continued dedication to push the technology in the clinic. We’re excited to support their growth and vision to transform the treatment of biventricular heart failure with the world’s first fully MAGLEV total artificial heart.”

Founded in 2008, BiVACOR maintains offices in Cerritos, California, and Brisbane, Australia. The company is affiliated with Houston's Texas Heart Institute, where the world's first artificial heart was implanted. BiVACOR's headquarters is at the Texas Medical Center complex.

How to utilize AI and ChatGPT to increase employee productivity, according to this Houston expert

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We are crossing a Rubicon. A point of no return. The birth of Chat GPT has opened a world of possibilities not seen before. Though artificial intelligence has been a part of our lives for many years, it has now taken a form that will become more universal. And nowhere will it be more prevalent than in the workplace. Companies all around the world are using this technology to transform the way we work and the offices we inhabit. The race is on.

Many companies are already using AI to drastically change their office design and the way they work. Those that haven’t embraced it are now faced with a choice – to incorporate the AI revolution into their business, tactics, and workspace or get left behind. Luckily, the companies that are utilizing AI and ChatGPT have proven several ways that the technology can benefit their workflow and company culture, including:

  • Speech recognition capabilities
  • Task automation
  • Improved workplace design

In this article, we will explore each of these benefits and how they are helping businesses enhance productivity, support their employees, and transform their offices.

Voice to Text Capabilities

Companies are using AI to support employees by alleviating mundane tasks that can lead to burnout, starting with typing. AI-powered speech recognition software enables employees to use their voice to respond to emails, create reports, and fill out forms. This type of solution is effective because the average typing speed is in the 40 words per minute range. However, speech-to-text entries are about three times faster and more accurate. Additionally, the technology can reduce repetitive stress injuries and eliminate barriers for employees with disabilities.

Task Automation

AI-powered technologies can also automate other tasks like generating meeting summaries and minutes. This can save time and ensure that critical information is not missed. ChatGPT can even automate the scheduling of meetings and appointments. Shaffra, a company in Dubai, is utilizing the chatbot’s services to free up time and resources for more creative and strategic work. Other startups like Growdash are leveraging ChatGPT to provide insights into why a particular marketing campaign has not performed well and how it can be improved.

ChatGPT also helps streamline processes, such as onboarding new hires. By providing an accessible, centralized repository of information, ChatGPT can help employees reduce decision-making time and improve accountability. With its visibility into task completion, the technology also encourages remote workers to stay engaged, speeding up workflows.

Improved Workplace Design

ChatGPT is also impacting workplace real estate by influencing design choices. With the rise of virtual communication, businesses are reconsidering the layout of physical workspaces. ChatGPT can help inform these decisions by analyzing employee feedback and identifying patterns in communication and collaboration. This data can be used to design workspaces that are optimized for productivity, improving employee satisfaction, and reducing turnover.

At Telstra, Australia's leading telecommunications company, CEO Vicki Brady identified AI as a key part of the company's 2025 strategy and has already implemented various AI technologies to improve customer service, network security, and software development. This in turn could lead to a need for more versatile and adaptable workspaces that can accommodate different work styles and preferences.

Conclusion

It is important to note that AI technologies are not perfect. Users have stated that AI may occasionally give inaccurate responses or have untrustworthy information sources. But the benefits of using AI-powered technologies to support employee throughput and well-being still outweigh the risks.

As companies navigate a rapidly changing global landscape, technological advancements can play a critical role in ensuring their success. From automating tedious tasks to enabling remote work, artificial intelligence tools like ChatGPT and speech recognition platforms have become vital assets for optimizing workplace efficiency and processes. Ultimately, the success of any business lies in its ability to adapt to ever-changing technologies, and ChatGPT is undoubtedly leading the way.

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Matt Norberg is the associate technical designer at Gensler.

This is how much money you need to live comfortably in Houston, new study finds

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Inflation is high, interest rates are skyrocketing, and honestly, just existing is expensive. Whether it be the price of eggs or a new car, trying to have a financially stable life in one of America’s largest metropolitan areas is becoming more and more difficult.

So, how much money do you need to make to live comfortably in the greater Houston area? Approximately $62,260 a year post-tax, according to a new study by financial tech company SmartAsset.

That’s over an $11,000-plus increase from their previous annual report, where Houston residents only needed to make $51,148 a year post-tax to live comfortably in the area.

Their experts collected data from MIT’s Living Wage Calculator to determine the cost of living for a childless individual in the 25 largest American metro areas. They also used the 50/30/20 budgeting strategy to figure out what a “comfortable lifestyle” meant for the purpose of their study: 50 percent of their income goes to a person’s needs/living expenses, 30 percent to a person’s wants, and 20 percent for their savings or paying down debt.

To live a financially stable life, a childless Houstonian would need to spend $31,130 of their salary on their living expenses, $18,678 for discretionary expenses, and put $12,452 toward their savings or debt payments.

Susannah Snider, SmartAsset’s managing editor of financial education, says in the study that budgeting should be the “bedrock of many people’s financial plans.”

“And it’s especially essential to understand and track your spending when the cost of everyday items is rising,” said Snider. “Being able to stick to a 50/30/20 budget means you have enough to fund short- and long-term goals while paying for essential living expenses.”

To live comfortably in the largest metro areas in the United States, on average, an individual would need to make $68,499 a year after taxes, which is a 20 percent increase from 2022. And, according to the report, salaries aren't rising like inflation.

"While salaries increased 5.1 percent between December 2021 and December 2022, wage growth couldn’t keep up with inflation, which averaged 8 percent in 2022," per SmartAsset.

In other Texas metro areas, like Dallas and San Antonio, a person would need to make $64,742 and $59,270, respectively, a year post-tax.

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This article originally ran on CultureMap.

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