There are three key things every faculty who wants to start a company should think about. Graphic by Miguel Tovar/University of Houston

Trying to start a business as a faculty member in academia? Don't fret. As daunting as starting a company can seem, this blog will aim to give any prospective entrepreneur useful insights to getting started.

Jason Eriksen, Ph.D., an associate professor of Pharmacology at the University of Houston, has founded three different Biotech companies since he's been at UH: Alzeca Biosciences, Teomics, and Swift Front.

Alzeca was the first company he co-founded with Dr. Ananth Annapragada, from Texas Children's Hospital back in 2009.

"The mission of Alzeca is to develop an inexpensive non-invasive diagnostic test for the detection of Alzheimer's disease and other neurodegenerative disorders," Eriksen said.

The second company was Teomics that he founded to "develop better diagnostic tools for scientific and medical research."

Finally, the third, and most recent, startup Eriksen founded was Swift Front.

"The mission of Swift Front is to develop a fully automated high-speed microscope platform that can be used to generate three dimensional images of whole organs or other huge objects at speeds 1000 to 10,000 times faster than what's commercially available today," he said.

According to Eriksen, there are three key things every faculty who wants to start a company should think about:

1. Mind the culture gap

Scientists evaluate research by considering whether it makes an original contribution to our understanding of the world. Businesses have a different rationale, which, by and large, is to make money. This engenders a huge culture gap. Your greatest, latest discovery in the lab may have no immediate practical application, and will never be of interest to businesses, unless it has the opportunity to become commercialized. As opposed to a company with an established business model, startup companies like yours will have neither an established technology, nor an established base of customers. As a founder of a startup, your primary mission is to identify who is going to buy your technology, and why they are going to buy it. Get out of the building to discover your customers.

2. Remember there is no single path to commercialization

It's a very long road from an idea in the lab to a commercial success. There are many ways to go from the laboratory bench to the store, and commercialization is just like any business process. It's part art, and part science; part inspiration and part perspiration. There are no shortcuts to becoming successful. So, if anyone tells you at the start that your idea is a guaranteed winner (or not), don't believe them. There is a lot of hard work that has to be done to see if an idea can make it.

3. Stay self-funded as long as possible

Starting a business is one of the hardest things you'll ever do. It takes time, energy, and money… a whole lot of money. More money than you have in your bank account (probably). Does that mean you need to find an investor? No. Avoid taking investments too early in the company. Whether you head to the bank, call a rich family friend, or tap an investor, you give up control as soon as you hold out your hand for money. Retain control of your business's money, and you will keep control of your business.

Money is the Biggest Obstacle

Obstacles are inevitable when starting a new business. "Money makes the world go round, and one of the most challenging obstacles for any new company is to have enough money to keep moving forward," Eriksen said.

Eriksen said his first company, Alzeca, was "self-funded for several years." In order to move the company forward, they needed to seek non-dilutive forms of funding to develop their technology.

Types of Non-Dilutive Funding

  • Grant Awards
  • Bank loans
  • (Forgivable) Loans from Family and Friends
  • Licensing and Royalties from Products
  • Tax Credits
  • Crowdfunding

Eventually, Eriksen and his team at Alzeca were ready for human trials and needed millions of dollars to do so.

"By this point, we were fortunate that we had an excellent team of founding members, consisting of myself, Dr. Annapragada, a founder with deep business experience and a CEO who did a lot of the actual fundraising for us. Together, the team was able to recruit investors with deep pockets, allowing us to move this technology forward," Eriksen said.

Basic Checklist for Starting a Company

Beyond understanding the larger concepts behind starting a company and that money is essential, here are a few things to remember, according to Eriksen:

  1. Ask other entrepreneurs for advice
  2. Identify your target audience/customers
  3. Believe in your idea and don't let anyone tell you otherwise. Work hard and see for yourself if the idea will work
  4. Seek out what resources your university offers for entrepreneurs
  5. Avoid taking investments too early in the company. Retain control of your business's money, and you will keep control of your business.
  6. When it's time to expand, use non-dilutive types of funding
  7. Have a strong team behind you that wants to see the company succeed

What's The Big Idea?

Any aspiring entrepreneur who is considering starting a new company, but has no previous experience, should ask other entrepreneurs for advice. UH offers a number of programs that support faculty entrepreneurs such as the regional iCorps program and a growing Office of Technology Transfer and Innovation at the UH Technology Bridge. Be sure to check out your technology transfer office at your university to see what programs are available to support you as you get started.

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This article originally appeared on the University of Houston's The Big Idea. Cory Thaxton is the communications coordinator for The Division of Research.

Building a consortium is a model that increases productivity both as a way to provide financial support and as a way to have a large group working on a single goal and to build a consistent cash flow to support a graduate research program. Graphic by Miguel Tovar/University of Houston

Houston expert: How to build a research consortium

houston voices

Most principal investigators spend many hours laboring over proposals to fund their research programs – and for good reason. While competing for funding is the big business for researchers, some have opted to fund their programs in other ways, like building a research consortium.

The word "consortium" means a group of individuals, companies or governments that work together to achieve a specific purpose. Research consortia are generally partnerships between institutions and industry, where several companies in a specific industry sector will pay an annual fee to be a part of the university-led consortium. In return, the university will research solutions to critical problems identified by the company and provide critical research data.

Considering a consortium

Professor Paul Mann, a geologist at the University of Houston, has successfully run a consortium of energy companies since 2005, funding up to 20 graduate and undergraduate research students every year. He routinely brings in hundreds of thousands of dollars per year in funding and has students working on solutions for geologic problems in the Caribbean, Gulf of Mexico, and the circum-Atlantic margins.

"Academic research consortia are a great way to fund research programs long term," said Mann. "Each company puts a certain amount of money in to fund a specific project and it creates a smoother cash flow to support students."

According to Mann, who runs the Conjugate Basins, Tectonics and Hydrocarbons Consortium, building a consortium requires a much different skill set than managing a taxpayer-supported, public grant through federal agencies such as the National Science Foundation. Since consortia are partnerships, in-person visits, relationship-building and trust with the sponsoring companies are key to building a successful one.

And instead of submitting routine technical reports, professors who have consortia visit companies, make presentations and meet one-on-one with their partners.

"We rely on companies for their continued funding, so we visit them in person as a way of building trust and transferring information. In meetings, we share what we are finding out, they share their knowledge and we both come away at a higher level of understanding," said Mann. He also transfers information to the company through summer internships or students who become full-time employees following their graduation from UH.

Mann also partners with researchers in the petroleum engineering program at University of Stavanger in Norway that is led by Professor Alejandro Escalona. Escalona completed his Ph.D. and postdoctoral study with the CBTH project at The University of Texas at Austin in 2006 and is now head of the Petroleum Geosciences section at Stavanger.

Find sponsors for your consortium

Building a consortium provides many opportunities for industry partners to get involved. A consortium also provides a flexible, project-based structure and allows partners to come to the table when they have a specific project that needs to be explored.

Other than joining as an official partner to support a project, companies can partner with academia to provide data sets for students to research.

"Data from industry are generally superior to anything that academia can collect because the industry has the resources and infrastructure to develop and support the highest level of subsurface imaging of the deep sedimentary basins that we use for our studies," said Mann.

"Students can work directly with critical industry data sets to accomplish the goals of the project. In return, the data provided increases its value through our interpretations and analysis which benefits the company that provided it."

Get other partners

Another way industry can contribute is through technical support from industry service companies that provide software for the consortium to use in their studies.

"Software helps accomplish complex analyses and provides students a chance to use cutting edge methods in their research projects," said Mann.

This investment transfers back to industry, he adds. As students graduate, they enter industry with strong experience working with the software. They then can promote the use of the software and train others in the company in its applications.

"Software evolves at a fast pace so keeping up requires significant effort," said Mann.

Build credibility with industry

To keep your consortia going, it must bring value to industry. This means providing successful applications to practical problems, such as exploring the subsurface in the search for hydrocarbons, according to Mann.

"We end up on applications – how can we use the science for practical benefits?" said Mann. "The students are exposed to the A-Z science value chain.'"

Performance benchmarked by publications builds credibility with companies, adds Mann, who requires doctoral students to publish three peer-reviewed articles on their dissertation research and master's students to publish one article on their thesis. He also involves students in site visits or Zoom meetings with companies to present the findings of the project. This gives students a chance to investigate summer internship and employment opportunities.

Since the CBTH project moved to UH a decade ago, CBTH-supported students have published 96 peer-reviewed, first-authored articles.

"Theses and dissertations tend to collect dust on shelves in libraries or languish in obscure digital archives, while published papers that are widely accessible online or at sites like Research Gate are at the forefront of the global dialogue of science," said Mann. "I tell the students that their published articles will be their legacy to the pool of human knowledge, so make sure you advance your work to as close to perfection as possible".

Build credibility for your consortium

According to Mann, students in the CBTH also regularly place in the annual poster competitions. Since 2013, they have won 138 awards.

"By the time our students graduate, they are masters of the 'graphical arts' that are based on a variety of software used to maximize the impact of their data and interpretations," said Mann. He said they also attain a high level of confidence, either presenting oral presentations in front of larger groups or poster presentations to smaller groups. The communication skills and confidence they gain serve them well, he said, throughout their careers.

These competitions also help to elevate the status of the UH Earth and Atmospheric Sciences department, which is currently ranked at number 54 in the U.S.A. by U.S. News and World Report.

Along with winning other competitions, Mann said these top performance activities really help establish credibility within the field and that will draw more interest in the consortium.

"Everyone in academia and industry values and respects peer-reviewed articles published in the top geoscience journals. With the electronic age the science dialogue has accelerated, so figuring out where the cutting edge is currently located can be a challenge," said Mann.

The Big Idea?

Building a consortium is a model that increases productivity both as a way to provide financial support and as a way to have a large group working on a single goal and to build a consistent cash flow to support a graduate research program.

Public grant funding tends to be on shorter time scales and that can make the multi-year funding for student projects more challenging, according to Mann. But once established and producing results, a research consortium is a solid model for supporting your students.

Watch this interview with Paul Mann about creating and running a consortium

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This article originally appeared on the University of Houston's The Big Idea. Lindsay Lewis, the author of this piece, is the executive director of communications for the UH Division of Research.

The telework paradigm may be here to stay in research long after the COVID pandemic tapers off. Graphic by Miguel Tovar/University of Houston

Houston expert: Telework in research might be here to stay

houston voices

How many of the research administrator's duties can be done from home? COVID-19 is showing us emphatically that the answer is many.

There are some aspects that take a little bit of inventive scheduling to make happen, but overall, the telework paradigm may be here to stay in research long after the COVID pandemic tapers off.

Meetings and more meetings

Research professionals know that there are always meetings to attend – with faculty colleagues, research coordinators and institutional review boards. These can be accessed easily over the internet. Back-to-back meetings are much easier to jump on these days.

Sign away

The Society of Research Administrators International blog reminds us that contracts can be sent electronically for signatures: "Sponsors large and small have implemented electronic portals for proposal submissions. Is there a need to be at the office on campus? That is so pre-COVID."

Transportation

Transportation difficulties are all but eliminated in between meetings, and we spend little to no time commuting (as an aside, check out work-from-home discounts for work-from-home car insurance). "More than 30 minutes of daily one-way commuting is associated with increased levels of stress and anxiety," states flexjobs.com. So the telework environment helps to offset that stress. And that doesn't even take into account the environmental impact of fewer cars on the road!

The kids are alright

Childcare. When schools went virtual while some of us worked from home, a crisis was averted. Except for the danger of easy distraction that multi-tasking presented, families often grew closer in the home while working side by side. But essential personnel had a different tale to tell. For instance, Kelly Heath, the director of University of Nebraska – Lincoln Institutional Animal Care Program, said: "Organizing child care is particularly complicated for essential employees and it's added stress to the situation." His team has implemented a three-day consecutive schedule, alternating two teams. This schedule has helped, he said. "Staff are working the same number of hours, but the division provides protection so that if someone on Team A gets sick, Team B has not been exposed."

David Brammer, executive director of Animal Care Operations (ACO) at the University of Houston, developed a similar plan, segregating teams according to geographic location and limiting interaction between the teams. "UH also limited investigators' access to the animal facility until the ACO staff could complete their duties within the facility. The major concern for ACO was to have staff available to care for the animals in the event that a team was either ill or in quarantine due to contract tracing."

Saving money

"People who work from home half time can save around $4,000 per year," states flexjobs.com. "Car maintenance, transportation, parking fees, a professional wardrobe, lunches bought out, and more can all be reduced or eliminated from your spending entirely."

A word on animal care operations

Animal care in the research enterprise poses a significant hurdle. The veterinary care personnel have always been considered "essential." Creative scheduling, like the aforementioned three-day on, three-day off, two-team model has helped to offset the difficulty of having animals fed, watered and cared for.

For University of Nebraska – Lincoln, winter break and blizzards had always required this model to be the plan, but the duration of COVID has simply required this to go on longer than before. The animal care operation, "slowed down its work when possible and delayed taking on any new research projects …Those deemed mission critical or related to addressing COVID-19 got top priority," said a communicator.

The big idea...

Are we better off working at home? The argument can certainly be made that we are. There are aspects that aren't ideal – "Zoom Fatigue" comes to mind – but, overall, telework may be the new normal for many universities.

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This article originally appeared on the University of Houston's The Big Idea. Sarah Hill, the author of this piece, is the communications manager for the UH Division of Research.

Here's your university research data management checklist. Graphic by Miguel Tovar/University of Houston

Tips for optimizing data management in research, from a UH expert

Houston voices

A data management plan is invaluable to researchers and to their universities. "You should plan at the outset for managing output long-term," said Reid Boehm, research data management librarian at University of Houston Libraries.

At the University of Houston, research data generated while individuals are pursuing research studies as faculty, staff or students of the University of Houston are to be retained by the institution for a period of three years after submission of the final report. That means there is a lot of data to be managed. But researchers are in luck – there are many resources to help navigate these issues.

Take inventory

Is your data

  • Active (constantly changing) or Inactive (static)
  • Open (public) or Proprietary (for monetary gain)
  • Non-identifiable (no human subjects) or Sensitive (containing personal information)
  • Preservable (to save long term) or To discard in 3 years (not for keeping)
  • Shareable (ready for reuse) or Private (not able to be shared)

The more you understand the kind of data you are generating the easier this step, and the next steps, will be.

Check first

When you are ready to write your plan, the first thing to determine is if your funders or the university have data management plan policy and guidelines. For instance, University of Houston does.

It is also important to distinguish between types of planning documents. For example:

A Data Management Plan (DMP) is a comprehensive, formal document that describes how you will handle your data during the course of your research and at the conclusion of your study or project.

While in some instances, funders or institutions may require a more targeted plan such as a Data Sharing Plan (DSP) that describes how you plan to disseminate your data at the conclusion of a research project.

Consistent questions that DMPs ask include:

  • What is generated?
  • How is it securely handled? and
  • How is it maintained and accessed long-term?

However it's worded, data is critical to every scientific study.

Pre-proposal

Pre-proposal planning resources and support at UH Libraries include a consultation with Boehm. "Each situation is unique and in my role I function as an advocate for researchers to talk through the contextual details, in connection with funder and institutional requirements," stated Boehm. "There are a lot of aspects of data management and dissemination that can be made less complex and more functional long term with a bit of focused planning at the beginning."

When you get started writing, visit the Data Management Plan Tool. This platform helps by providing agency-specific templates and guidance, working with your institutional login and allowing you to submit plans for feedback.

Post-project

Post-project resources and support involve the archiving, curation and the sharing of information. The UH Data Repository archives, preserves and helps to disseminate your data. The repository, the data portion of the institutional repository Cougar ROAR, is open access, free to all UH researchers, provides data sets with a digital object identifier and allows up to 10 GB per project. Most most Federal funding agencies already require this type of documentation (NSF, NASA, USGS and EPA. The NIH will require DMPs by 2023.

Start out strong

Remember, although documentation is due at the beginning of a project/grant proposal, sustained adherence to the plan and related policies is a necessity. We may be distanced socially, but our need to come together around research integrity remains constant. Starting early, getting connected to resources, and sharing as you can through avenues like the data repository are ways to strengthen ourselves and our work.

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This article originally appeared on the University of Houston's The Big Idea. Sarah Hill, the author of this piece, is the communications manager for the UH Division of Research.

The University of Houston explores how research is being conducted in the age of the pandemic. Graphic by Miguel Tovar/University of Houston

Here's how Houston researchers are doing their work amid COVID-19

houston voices

As far as COVID-19 goes, Level 1 is the worst threat level. Harris County remains at Level 1, or "Severe Threat" for infection of the novel coronavirus. Yet, as they say in the theater, "The show must go on!" And for the most part, research is continuing in many ways. Surveys, interviews and other socially-distanced research has been easy to keep up during the COVID crisis.

How far away is six feet?

Some research must be done in person, though. Try to picture two golden retrievers standing nose to tail. Or a regular mattress. Or even the width of the front of your car. All of these measure in at about six feet. The droplets in the air are what can get you sick and when you stand at least six feet away from a person who is talking, laughing or coughing, you have a better chance of not breathing those virus molecules.

In the beginning... 

In human subjects research, the safety of participant volunteers is always of the utmost importance. This has only become more critical with the entrance of the pandemic in March 2020, and remains so today. In early March, PIs at the University of Houston were asked to review each of their studies and to let the University know whether missing visits would be detrimental to the safety or well-being of human subjects.

Some clinical studies (specifically those taking part in clinics that provide paid health services) were often allowed to continue under COVID precautions adopted by the medical community. Just as if you went to a doctor's office, there were rules: the 6-foot apart rule, mandatory mask-wearing, extra disinfecting and temperature checks. In some cases, modifications made such as the addition of plexiglass to instrumentation increased the safety of research procedures. Additional protections are in place to protect research staff and students; student involvement in research remains strictly voluntary.

What about IRBs?

At the University of Houston (UH), the Research Integrity and Oversight office is working with groups of faculty investigators, general counsel, Environmental Health and Safety and Emergency Management to put in place safety precautions for re-starting human subjects research where subjects are within six feet of the research team. This will happen once Judge Lina Hidalgo determines that Harris County may be downgraded to Level 2. These institutional requirements are in addition to and on top of the normal precautions taken by the Institutional Review Board, which is formally designated to, among other tasks, review, approve, require modifications in (to secure approval), or disapprove all research activities involving human subjects.

Up close and personal

In the instance Harris County is downgraded to Threat Level 2, COVID-19 procedures have been approved for subjects undergoing research procedures at the UH College of Optometry and in Health and Human and Performance exercise physiology studies. Physiology test subjects are often on treadmills or are exhaling more droplets into the air through exertion brought on by exercise.

COVID-19 procedures for other research that include test subjects that need to be closer than six feet apart (examples: applying sensors, walking in an exoskeleton, completing manual tasks, etc.) have been submitted for review and are currently being evaluated. As this group encompasses such a wide variety of research procedures, it has taken the longest to draft.

Contact tracing

Screening questions, non-recorded temperature checks and a log of updated contact information are now required for all research endeavors. Screening questions mirror those recommended by CDC, including attestations as to whether the participant has had symptoms, travelled out of the country, or has been in contact with anyone who has tested positive for COVID.

The contact information is so that correct information is available should the researcher be contacted by a city or county health department for contact tracing purposes if a positive test result is reported for a subject or research team member. Finally, all subjects are asked to read and sign a document (in addition to the consent form) that explains the increased protections the university has put in place for those coming to campus during the pandemic, including face coverings, social distancing when possible and additional protections depending on the type of research being conducted.

Exceptions

Kirstin Holzschuh, executive director of UH's Research Integrity and Oversight office said, "If there is a compelling justification – for example, a PI is conducting a long-term longitudinal study and missing data points might invalidate the study, or we are one of many research sites and are in jeopardy of losing funding because other (typically non-academic) sites are enrolling and we are not – the PI can contact the Research Integrity and Oversight office and request to use the procedures approved for Level 2 under Threat Level 1." But this also goes through a review process and requires a signed agreement by the investigator that they will follow all approved COVID procedures.

Better safe than sorry

There are always risks and benefits to participating in research, but what must be kept at the foreground of one's human subjects research is that we are considering volunteers. Research subjects must always weigh the risks and benefits of participating in research; a researcher must provide these risks and benefits in clear language that allows the subject to make an informed decision.

"During times of increased risk, such as a pandemic, the university must take further precautions to protect and inform our research subjects regarding the risks of being on campus during a pandemic. Research subjects and their commitment to the greater good fuel our research enterprise, and their safety is always paramount," said Holzschuh.

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This article originally appeared on the University of Houston's The Big Idea. Sarah Hill, the author of this piece, is the communications manager for the UH Division of Research.

In these highly divisive times, it can be a struggle to curb political discussions in the workplace. Miguel Tovar/University of Houston

How Houston companies big and small should approach politics in the workplace

Houston voices

Politics has always managed to find its way into the workplace. Casually popping up in conversation here and there. Usually reserved for the water cooler. It always managed to seep through the cracks like a gentle breeze. But, what was once just a breeze, has now become a tsunami.

Politics in the workplace doesn't just casually pop up anymore. In many respects, it has consumed it. According to Harvard Business Review writer Rebecca Knight, companies themselves are now taking political stances. With the advent of social media, political grandstanding is more prevalent and even encouraged in the workplace in many places, than ever before.

The problem is obvious. Few things are as divisive as politics. With emotions often running at a fever pitch, you're bound to see tension and friction in the workplace. Once it starts to disrupt business and the flow of work, it's time to rethink your company's approach to political discourse on the boss's dime.

Establish a policy for politics in the workplace

You have a right to free speech, even in the workplace. Read that again. Because it's completely WRONG.

You don't have a right to free speech in most workplaces. A private employer can and usually does establish a set of rules for politics in the workplace. If you're an employer and you don't want to completely ban political discussion, you can still establish policies to prevent the display of political support in the office. The golden rule here is to stay neutral. Don't highlight a specific political view or party or candidate over another.

"Talking politics can be tricky, but, like many things it's an unavoidable part of the workplace. Hold strong, the presidential race will be over (soon), and everyone will be back to talking shop (at least until inauguration)," said Lynze Wardle Lenio, in her article for The Muse.

Handling complaints

This depends on your particular company's policy on politics. Does your company prohibit all conversations about politics? Can your employees talk politics on lunch breaks? If someone is in violation of your policy, the first action should be to confront them privately and remind them of the policy.

"If your policy is more lax, you might want to encourage the complainant to respectfully ask the person engaged in political talk to take their conversation somewhere else," said Macy Bayern of TechRepublic.

"Never discipline an employee for having a different political opinion from another employee. The discipline should only come within the framework of the company's policy," she continued. Are they making someone uncomfortable? Are they wasting company time? Creating workplace hostility? These are all grounds for serious reprimanding.

Handling harassment

Now we're venturing into more serious territory. It's one thing to have complaints about people talking about an election out in the open. It's another to have complaints that someone was attacked for their political beliefs. "You're the employer. You have a responsibility to keep your employees safe above all else. That means protecting them from bullying," Bayern expressed.

This is a situation where you should be more firm in your reprimanding. Although it's not illegal per se, since political leanings aren't a protected class, you still want to nip this in the bud before it compromises the integrity of the entire office. The last thing you want is for employee morale to dip because of bullying. If allowed to go unpunished, this could easily spill over into bullying because of race, sex or religion. Then you have a legal problem.

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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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Houston-based startup expands hangover product line with new beverage launch

cheers to health

Houston-based startup Cheers first got a wave of brand devotees after it was passed over by investors on Shark Tank in 2018. In the years since, Cheers secured an impressive investment, launched new products, and became a staple hangover cure for customers. When the COVID-19 pandemic disrupted businesses, the company rose to the occasion and experienced its first profitable year as drinking and wellness habits changed across America.

Cheers initially started its company under the name Thrive+ with a hangover-friendly pill that promised to minimize the not-so-fun side effects that come after a night out. The capsules support the liver by replacing lost vitamins, reduce GABAa rebound and lower the alcohol-induced acetaldehyde toxicity levels in the body. The company's legacy product complemented social calendars and nights on the town, providing next day relief.

With COVID-19 lockdowns and social distancing measures, the days of pub crawls and social events were numbered. Cheers founder Brooks Powell saw the massive behavior change in people consuming alcohol, and leaned into his vision of becoming more than just a hangover cure but an "alcohol-related health company," he says.

When the pandemic first hit, Powell and his team noticed an immediate dip in sales — a relatable story for businesses in the grips of COVID-19.

"There is a three day period where we went from having the best month in company history to the worst month in company history, over a 72 hour stretch," he remarks.

He soon called an emergency board meeting and rattled off worst-case "doomsday" scenarios, he says.

"Thankfully, we never had to do any of these strategies because, ultimately, the team was able to rally around the new positioning for the brand which was far more focused on alcohol-related health," he says.

"We found that a lot less people were getting hangovers during 2020, because generally when you binge drink, you tend to binge drink with other people," he explains.

He noticed that health became an important focus for people, some who began to drink less due to the lack of social gatherings. On the contrary, some consumers began to drink more to fill the idle time.

According to a JAMA Network report, there was a 54 percent increase in national sales of alcohol for the week stay-at-home orders began last March, as compared to the year prior.

"All of a sudden, you have all of these people who probably aren't binge drinking but they're just frequently consuming alcohol. Their drinks per week are shooting up, and they're worried about liver health," explains Powell.

Outside of day-after support, Cheers leaned into its long-term health products to help drinkers consume alcohol in a healthier way. Cheers Restore, a dissolvable powder consumers can mix into their water, rehydrates the body by optimizing sodium and glucose molecules.

For continued support, Cheers Protect is a daily supplement designed to increase glutathione — an antioxidant that plays a key role in liver detoxification — and support overall liver health. Cheers Protect, which was launched in 2019, became a focus for the company as they pivoted its brand strategy and marketing to accommodate consumer behavior.

"The Cheers brand is just trying to reflect the mission statement, which is bringing people together through promoting fun, responsible and health-conscious alcohol consumption," says Powell. "It fits with our vision statement, which is a world where everyone can enjoy alcohol throughout a long, healthy and happy lifetime,."

At the close of 2020, Cheers had generated $10.4 million in revenue and over $1.7m in profit — its first profitable year since launch.

During the brand's mission to stay afloat during the pandemic, the Cheers team was also laying the groundwork for its entry into the retail space. When Powell launched the company during his junior year at Princeton University, bringing Cheers to brick-and-mortar stores had always been a goal. He envisioned liquor and grocery stores where Cheers was sold next to alcohol as a complementary item. "It's like getting sunscreen before going to the beach, they kind of go hand in hand," he says.

"When we spoke with retailers, specifically bars and liquor stores, what we learned is that a lot of these places were hesitant to put pills near alcohol," he says. Wanting an attractive and accessible mode of alcohol-support, the Cheers team created the Cheers Restore beverage.

Utilizing the technology Cheers developed with Princeton University researchers, the Cheers Restore beverage incorporates the benefits of the pill in a liquid, sugar-free form. The company states that its in-vivo study found that the drink is up to 19 times more bioavailable than pure dihydromyricetin (DHM), a Japanese raisin tree extract found in Cheers products and other hangover-related cures.

"What we figured out is that if you combine DHM — our main ingredient — with something called capric acid, which is an extract from coconut oil, the bioavailability shoots way up," says Powell. He notes the unique taste profile and the "creaminess" capric acid provides. "Now you have this lightly carbonated, zero-sugar, lemon sherbert, essentially liver support, hangover beverage that tastes great in 12 ounces and can mix with alcohol," he explains.

The Cheers Restore beverage is already hitting the Houston-area, where its found a home on menus at Present Company. The company has also run promotions with Houston hangouts like Memorial Trail Ice House, Drift, and The Powder Keg.

Currently, the beverage is only available in retail capacity and cannot be ordered on the Cheers website. As Powell focuses on expanding Cheers Restore beverage presence in the region, he welcomes the idea of expanding nationally in the future to come. While eager customers await the drink's national availability, they can actively invest in Cheers through the company's recently-launched online public offering.

Though repivoting a company and launching a new product is exciting, the process did not come without its caveats and stressors. While Cheers profited as a business in 2020, the staff and its founder weren't immune to the struggles of COVID-19.

"I think 2020 was the first year that it really became real for me that Cheers is far more than just some sort of alcohol-related health brand and its products," says Powell. "Cheers is really its employees and everything that goes into being a successful, durable company that people essentially bet their careers on and their family's well-being on and so forth," he continues.

"It really does weigh on you in a different way that it's never weighed on you before," says Powell, describing the stress of the pandemic. The experience was "enlightening," he says, and he wants others to know it's not embarrassing to need help.

"There is no lack of great leaders out there that at long periods of their life they needed help in some way," he says. "For me that was 2020 and being in the grinder and feeling the stress of the unknown and all of that, but it could happen to anyone," he continues.

Get a glimpse at the schedule and speakers for global healthtech event

Itinerary Time

HealthTech Beyond Borders is coming up August 10-13, 2021, where American healthtech companies can find their perfect match with Chilean collaborators. But what exactly can you expect from the free, virtual event?

Besides answering the question "why Chile?," the seminars will touch on everything from software solutions and medical facility management to healthcare products and services, and even venture capital opportunities.

A curated group of successful Chilean and U.S. healthtech companies are participating, including those that specialize in artificial intelligence, 3-D printing, medical robotics, gene therapies, nanomedicine, neurotechnology, eye care tech, telehealth, imaging diagnostics, wellness and fitness, mental health, and more.

The first day includes such panelists as Matias Gutierrez, CEO of Genosur LLC, and Alberto Rodríguez Navarro from Levita Magnetics.

A discussion on the current healthcare innovation ecosystem in Chile and the region's strengths, as well as developments for key sub-sectors are also on tap.

Day two kicks off with everything you'd want to know about venture capital, and why the U.S. has been the largest for Chilean startups.

Find answers to questions like what do early stage companies need to consider and what steps do they need to take to best prepare themselves to receive funding, as well as what are the important tools for companies to reach VC on each territory?

Day three examines the question "Why the U.S.?" What have Houston, Chicago, and Philadelphia done to become key healthcare hubs in the world, and what role do international partners play in these efforts? Representatives from each city are participating.

Likewise, why do international healthcare companies prioritize your respective markets, and how do these cities support expansion? Learn how the global U.S. private healthcare sector can reach Latin America, and how ProChile — the event's sponsor — can help make these connections.

Registration is now open, so get your free tickets here.

Houston cancer-fighting institution names 10 innovative fellows

curing cancer

A Houston institution has identified 10 researchers moving the needle on curing cancer.

The University of Texas MD Anderson Cancer Center named 10 "early career" faculty members to its 2021 class of Andrew Sabin Family Fellows. The fellowship was established by philanthropist Andrew Sabin through a $30 million endowment in 2015 and "encourages creativity, innovation and impactful cancer research at MD Anderson in the areas of basic science, clinical, physician-scientist and population and quantitative science," according to a news release.

Sabin has served as a member of the MD Anderson Cancer Center Board of Visitors since 2005.

"Researchers at MD Anderson are unmatched in their ability to develop bold tactics aimed at tackling cancer," he says in the release. "My hope is that through our support, we can inspire and assist these brilliant minds in their dedicated work to end cancer."

The program will dole out $100,000 to each fellow over two years. Since its inception, the program has selected and supported 52 fellows specializing in cancer research from basic science to translational research to survivorship.

"Our early career researchers are a pivotal part of the innovative discoveries that fuel our mission to end cancer," says President Peter WT Pisters, in the release. "We are extremely grateful for the generosity of the Andrew Sabin Family Foundation in allowing our institution to recruit and retain the highest caliber of young researchers through this fellowship program. Together, we will continue Making Cancer History."

The 2021 class of Sabin Family Fellows includes:

Basic/Translational Scientists

Clinical Researchers

Physician-Scientists

Population/Quantitative Scientists