First thing's first: Don't tell everyone. Jonathan Kitchen/Getty Images

If you have a successful tech startup, you may be working towards an exit plan where your vision and innovation is turned into liquidity. When a unique, innovative idea hits the big time, investors and other tech companies take notice, and some founders of startups discover themselves with sudden wealth.

Whether you take your company public or are eventually acquired by a much larger organization, you may find yourself looking at millions or billions of dollars one day. If this happens to you, there are crucial steps you should consider to help ensure you stay financially healthy for the long-term.

Keep your head down and do your homework.

First, be as quiet as possible about your new windfall. While selling your company may be public knowledge, keep conversations about your finances and situation minimal and confidential until you have a plan. The more hushed you keep your new financial situation, the less pressure you may have from others asking for favors and handouts.

Additionally, do your research before making any decisions. While you are coming to terms with your new wealth, search for the right team, including a financial adviser, attorney, and accountant, to help you set your goals, both long and short term. This may include tax efficiency and structure, such as trusts and family limited partnerships.

Research a potential advisers' philosophy, fees, and expertise. Have a background check run on anyone you hire, including their financial situation. Review your engagement letter and understand the small print. Be patient as you search for the right team — they are extremely important to your future.

Find an adviser you trust.

Part of your team should include a financial adviser who can be an invaluable resource during this time and into the future for many reasons.

First, he or she can help you identify potential present and future financial goals, plan for the next generation, and structure an income stream, which will ultimately help guide your money to survive you. You might find yourself in the unique position to make donations you have only dreamed of, and that, too, requires guidance.

A financial adviser can also help when friends and organizations are looking for financial contributions from you. Sudden wealth often leads to many changes which are hard to anticipate. Do not let your guard down. Family and friends can come out of the woodwork. Also, be aware of frivolous lawsuits and threats. Keep you and your family safe.

Don't go crazy.

Be disciplined in your spending. Some pro-athletes and lottery winners have filed for bankruptcy after blowing all of their wealth. Do not fall into this trap.

With the help of your financial adviser, you may decide to put your money where you cannot access it easily, such as a house or a 529 savings plan for your children's college. Or, you may decide to have your financial adviser help establish a salary for you each month so you can control your cash better.

After working hard to build a product or platform and the success of selling it for top dollar, ensure you are just as wise with your proceeds. Follow trusted advice from a well-vetted financial adviser and take your time to make major decisions. Trust your gut and enjoy the ride!

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Gail Stalarow is vice president and financial adviser with The Clarity Group in the Wealth Management Division of Morgan Stanley in Houston.

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Rice leads Texas colleges on LinkedIn's first-ever career success ranking

honor roll

Houston’s Rice University leads the Texas schools in LinkedIn’s first-ever ranking of the 50 best U.S. colleges for long-term career success.

Rice appears at No. 31 in the ranking. Southern Methodist University, located in the Dallas suburb of University Park, lands at No. 37 and the University of Texas at Austin shows up at No. 46.

LinkedIn, a career networking site, says the ranking is based on exclusive data about alumni, such as job placement rates, advancement into senior-level jobs, post-graduate formation of startups, and pre-graduation internships.

“A four-year bachelor’s degree is a significant investment of time and money, especially as tuition costs rise and the job market shifts,” the LinkedIn report says. “For millions of Americans, the return on investment is worth it. Those who earn the degree can see an enduring impact on their earning potential and overall career trajectory.”

Where someone earns a degree can have an even bigger impact, according to LinkedIn, as graduates of top programs often land jobs more rapidly, build strong professional networks, and rise to leadership roles more quickly.

“Long-term success isn’t just about landing a great first job; it’s about sustained career growth and opportunity years after graduation,” Andrew Seaman, senior editor-at-large for jobs and career development at LinkedIn News, told Fortune. “For this list, that means looking at how well a school sets alumni up for the long haul.”

Here’s a breakdown of some of the data about the three Texas schools on the LinkedIn list:

Rice University

  • Top industries of graduates: Technology, business consulting, higher education
  • Top post-graduation destinations: Houston, San Francisco Bay Area, New York City
  • Notable skills: MATLAB programming language, engineering design, data science

Southern Methodist University

  • Top industries of graduates: Financial services, business consulting
  • Top post-graduation destinations: Dallas, New York City, Los Angeles
  • Most notable skills: AMPL programming language, Avid iNews content creation system, data science

University of Texas at Austin

  • Top industries of graduates: Technology, medical practices, advertising
  • Top post-graduation destinations: Austin, Dallas, Houston
  • Most notable skills: SOLIDWORKS computer-aided design software, architecture, Avid Media Composer video editing software

TMC lands $3M grant to launch cancer device accelerator

cancer funding

A new business accelerator at Houston’s Texas Medical Center has received a nearly $3 million grant from the Cancer Prevention and Research Institute of Texas.

The CPRIT grant, awarded to the Texas Medical Center Foundation, will help launch the Accelerator for Cancer Medical Devices. The accelerator will support emerging innovators in developing prototypes for cancer-related medical devices and advancing them from prototype to clinical trials.

“The translation of new cancer-focused precision medical devices, often the width of a human hair, creates the opportunity to develop novel treatments for cancer patients,” the accelerator posted on the CPRIT website.

Scientist, consultant, and entrepreneur Jason Sakamoto, associate director of the TMC Center for Device Innovation, will oversee the accelerator. TMC officials say the accelerator builds on the success of TMC Innovation’s Accelerator for Cancer Therapeutics.

Each participant in the Accelerator for Cancer Medical Devices program will graduate with a device prototype, a business plan, and a “solid foundation” in preclinical and clinical strategies, TMC says. Participants will benefit from “robust support” provided by the TMC ecosystem, according to the medical center, and “will foster innovation into impactful and life-changing cancer patient solutions in Texas and beyond.”

In all, CPRIT recently awarded $27 million in grants for cancer research. That includes $18 million to attract top cancer researchers to Texas. Houston institutions received $4 million for recruitment:

  • $2 million to the University of Texas MD Anderson Cancer Center to recruit Rodrigo Romero from Memorial Sloan Kettering Cancer Center in New York City
  • $2 million to MD Anderson to recruit Eric Gardner from Weill Cornell Medicine in New York City

A $1 million grant also went to Baylor College of Medicine researcher Dr. Akiva Diamond. He is an assistant professor at the medical college and is affiliated with Baylor’s Dan L. Duncan Comprehensive Cancer Center.