The Sales Academy at the University of Houston is a eight-week program for graduates with an interest in technology sales. Photo via uh.edu

The University of Houston is looking to train the future workforce of technology sales with a new educational program.

The Sales Academy — an eight-week sales program that focuses on sales and lead generation skills for technology companies — is open to anyone who has a Bachelor's degree and an interest in technology and sales. The program aims to prepare its students for careers at startups and even large technology companies.

"We're designing this certification course to put people directly into a role that is extremely necessary for startups as they are growing and as their biggest investment needs to be in sales and lead generation roles," John Pingel, a Bauer College of Business professor who's behind the program, tells InnovationMap.

The idea for the program came out of the fact that tech companies are struggling to find employees with the skillset to sell and generate leads. Companies in Silicon Valley are finding it expensive and challenging to fill these sales roles, Pingel says, and Houston is an affordable city with tons of education opportunities.

"The city of Houston wants to attract new tech companies, and they also want to retain the companies that are starting up in town," Pingel says. "We want to play the role of sales talent."

The program, which launched its first class a week ago, will have 30 students in each class. Currently, Pingel says the program is looking for recent grads who maybe didn't find a job they are satisfied with their degree and are looking for a new path. The goal, Pingel says, is to run as many iterations per year as the organization can handle.

One of the most unique aspects of the program is its deferred tuition plan. Students can enroll in the program for free, and then The Sales Academy's team has 60 days after the program's completion to find the student a job. If the program can't place the student in time, the tuition is waived.

This initiative gives the students the financial freedom to develop new skills and start a new career. UH has seen success in the business school's Professional Excellence in Selling — a minor that prepares undergraduate students for sales position — that the school has run for 22 years. Pingel says that PES has a 98 percent placement rate for its students. Plus, The Sales Academy has worked all year to develop connections with companies interested in hiring students from the program.

"It's a risk, but it's still a calculated risk," Pingel says. "If we select the right student, and give them the right skills, that they are going to have the same type of success."

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Houston quantum energy chip startup emerges from stealth with $12M round

seed funding

Houston-based Casimir has emerged from stealth with a $12 million seed round to commercialize its quantum energy chip.

The round was led by Austin-based Scout Ventures. Lavrock Ventures, Cottonwood Technology, Capital Factory, American Deep Tech, and Tim Draper of Draper Associates also participated in the round. The oversubscribed round exceeded the company’s original $8 million target, according to a news release.

Casimir’s semiconductor chips can generate power from quantum vacuum fields without the need for batteries or charging. The company plans to commercialize its first-generation MicroSparc chip by 2028.

The MicroSparc chip measures 5 millimeters by 5 millimeters and is designed to produce 1.5 volts at 25 microamps, comparable to a small rechargeable battery, without degradation and no replacement cycle.

“Casimir represents exactly the kind of breakthrough dual-use technology Scout Ventures was built to back,” Brad Harrison, founder and managing partner at Scout Ventures, said in the release. “This is based on 100 years of science and we’re finally approaching a commercial product … We’re proud to lead this round and support Casimir’s journey from applied science to deployed technology.”

Casimir says it aims to scale its technology across the ”full power spectrum,” including large-scale energy systems that can power homes, commercial infrastructures and electric vehicles.

Casimir's scientific work has been supported by DARPA-funded nanofabrication research and its technology was incubated at the Limitless Space Institute (LSI). LSI is a nonprofit that works to innovate interstellar travel and was founded by Kam Ghaffarian. Technology investor and serial entrepreneur Ghaffarian has been behind companies like X-energy, Intuitive Machines, Axiom Space and Quantum Space.

Harold “Sonny” White, founder and CEO of Casimir, believes the technology can power devices for years without replacements.

“Millions of devices will operate for years without a battery ever needing to be replaced or recharged because we have engineered a customized Casimir cavity into hardware capable of producing persistent electrical power,” White added in the release. “I spent nearly two decades at NASA studying how we power humanity’s future. That work led me to the Casimir effect and the quantum vacuum, where new tools have allowed us to build on a century of scientific knowledge and bring abundant power to the world.”

Houston-based Fervo Energy bumps up IPO target to $1.82 billion

IPO update

Houston-based geothermal power company Fervo Energy is now eyeing an IPO that would raise $1.75 billion to $1.82 billion, up from the previous target of $1.33 billion.

In paperwork filed Monday, May 11 with the U.S. Securities and Exchange Commission, Fervo says it plans to sell 70 million shares of Class A common stock at $25 to $26 per share.

In addition, Fervo expects to grant underwriters 30-day options to buy up to 8.33 million additional shares of Class A common stock. This could raise nearly $200 million.

When it announced the IPO on May 4, Fervo aimed to sell 55.56 million shares at $21 to $24 per share, which would have raised $1.17 billion to $1.33 billion. The initial valuation target was $6.5 billion.

A date for the IPO hasn’t been scheduled. Fervo’s stock will be listed on Nasdaq under the ticker symbol FRVO.

Fervo, founded in 2017, has attracted about $1.5 billion in funding from investors such as Bill Gates-founded Breakthrough Energy Ventures, Google, Mitsubishi Heavy Industries, Devon Energy (which is moving its headquarters to Houston), Tesla co-founder JB Straubel, CalSTRS, Liberty Mutual Investments, AllianceBernstein, JPMorgan, Bank of America and Sumitomo Mitsui Trust Bank.

Fervo’s marquee project is Cape Station in Beaver County, Utah, the world’s largest EGS (enhanced geothermal system) project. The first phase will deliver 100 megawatts of baseload clean power, with the second phase adding another 400 megawatts. The site can accommodate 2 gigawatts of geothermal energy. Fervo holds more than 595,000 leased acres for potential expansion.

Cape Station has secured power purchase agreements for the entire 500-megawatt capacity. Customers include Houston-based Shell Energy North America and Southern California Edison.

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This article originally appeared on our sister site, EnergyCapitalHTX.com.