At the recent Global Corporate Venture conference, two corporate venture execs peeled back the curtain on what they look for from startups. Getty Images

One of the challenges for Houston energy startups is not knowing what potential big corporate partners want from them. At the recent Global Corporate Venture, two corporate venture execs shared what all they're looking for and the challenges they are facing.

Diana Grauer, director of external technology engagement and venture capital at Technip FMC, and Bradley Andrews, president of digital at Worley joined a panel with moderator Wade Bitaraf, founder of Plug and Play Energy & Sustainability. The panel, entitled "How globalization and diversification can boost a local innovation ecosystem," explored what each exec looks for in potential partnerships with startups.

At TechnipFMC, which has a newer corporate investment group, Grauer says her team looks for startup technologies within four key categories, industry 4.0, digitization, materials and processes, and energy transition. Within those categories, she says they aren't looking for startups that will provide a big return on investment, rather technologies that will advance the company's capabilities.

"We're focused on strategic returns, not necessarily your conventional financial returns," she says.

Andrews echoed this point, admitting that while a big exit for a portfolio company is never bad, but Worley would rather have technologies that benefit their business platform.

"As long as [a technology is] under core strategy and driving internal strategy, we're kind of in," he says. "Anything around data science, automation, new energy, sustainability, those are all kind of sweet spots for us."

A big challenge, Andrews says, is communicating companywide the importance of looking outward for innovative opportunities, rather than relying on the company's staff.

"The idea of corporate tech startups coming to fruition within our industry is kind of new. We used to build from within," Andrews says. "We're still as an industry trying to figure out how to do this."

Grauer says that, similarily, her biggest challenge is getting pushback from within TechnipFMC of people who just think their company should fund its current workforce to find solutions. But Grauer responds to them explaining that the company needs to move faster than that and the way to do that is through working with startups. That's why the company has created an Open Innovation Program. According to Grauer, the organization expects to make its first investment by the end of the year.

For Andrews, the state of Houston's innovation ecosystem is exciting, and he notes that he looks at emerging technologies across industries. A technical solution in medicine might have an application in energy, for example. And, considering the state of the energy industry, now is the time to be more collaborative within Houston as more and more global challenges emerge.

"I think Houston has everything it needs to make a stake in this," Andrews says. "We're not competing with each other in this industry. We're competing against what the world is going to demand from us. It's time for us in corporate land and set our egos aside."

Grauer says she's seen the city's innovation resources grow over the years, noting the emergence of The Cannon, Rice Alliance, and Plug and Play.

"I really think that the energy industry in Houston is really starting to catch up and blossom," she says.

Ahead of entering the Houston market later this year, Silicon Valley's Plug and Play hosted three days of programming surrounding innovation in energy and health care. Natalie Harms/InnovationMap

Overheard: Prominent business leaders weigh in on innovation in the energy and health industries

Eavesdropping in Houston

Plug and Play, a Silicon Valley venture capital firm and accelerator program, plans to launch its operations in Houston later this year. And, in showing its commitment to the Bayou City, the organization hosted three days worth of panels, talks, and pitches at the Texas Medical Center's TMC Innovation Institute earlier this month.

Houston Innovation Week was Plug and Play's formal introduction to Houston startups and the local corporations that have the potential to support them. The programming focused on health and energy and sustainability, and the summit concluded with TMCx's Demo Day.

If you missed the event, we've hit the highlights for you by rounding up nine powerful quotes overheard throughout the week.

“Nowadays, I feel every industry is going to go through an incredible digital transformation. Even the oil and gas industry, which is very capital heavy, there’s going to be a layer of fast-moving technologies which would help the industry be more efficient. This is the crossroads where Plug and Play was born — bridging the gap between the entrepreneurs and the technologies. That changes an industry.”

— Saeed Amidi, CEO and founder of Plug and Play, says. He also shares the story of how Plug and Play got its start from a few lucky early investments to making over 150 investments a year.

“Now we have about 30 offices, and then quite frankly I realized I had forgotten about America.”

— Amidi says, announcing that Plug and Play will open five new offices across the United States in the next six months to a year.

“We’re not walking in terms of building this integrated robust innovation ecosystem, we’re sprinting in that direction.”

— Mayor Sylvester Turner says, adding that, "If there is any city that ought to be leading the way when it comes to startups, technology, and innovation, it ought to be the city of Houston."

“You have to get people to invest more. It doesn’t happen on its own. People have to see that if we invest, we’re going to get a return.”

— Mayor Turner says, calling the crowd to action. "You can't just talk about what others have done and what we have accomplished. You have to take that now, build the platform, and move into where we are going."

“One of the things you look at is it’s not the technology itself that’s going to make you win or lose, it’s what you do with it.”

— Barbara Burger, president of Chevron Technology Ventures, responding to a question about what technologies she has her eyes on. Burger continued on to say that, while she couldn't highlight any technologies in particular — it's like picking a favorite child, she's always evaluating how a new technology would help with the affordability, reliability, and lower environmental impact. "That's the game," she says.

"Management is amazing at suppressing innovation. … We can move toward just trying not to suppress it. If someone has an idea, they are safe to go through the process and raise their hand."

— Bradley Andrews, president of digital at Worley. "I think it's a change in attitude," he says about how management can evolve to advance ideas within energy companies.

“It’s easy to say that we’ll do the thing that gives us the most competitive advantage — and it’s really hard to figure out what that means and how you do that. In general, if we see something that’s out there and implemented that someone else has done, I don’t need to create an internal capability like that. I just need to go access that.”

— Doug Kushnerick, senior technology scouting and venture adviser at ExxonMobil. For Kushnerick, technology solutions that fix specific problems are easy to go after, but things that affect big picture and strategic assets are harder to figure out if they are worth implementing.

“One of our big asks from our partners from an internal perspective is really to have a champion — whether its an innovation manager or someone who really advocates these startups internally. Someone who will find the clinician and the business unit and tap the legal team.”

— Neda Amidi, global head of health and partner at Plug and Play Tech Center, responding to a question about opening up the channels of communications between startups and large companies. She adds that it's a requirement for these people to visit a Plug and Play location four to six times a year.

“What I see from a culture perspective is that it really starts with the leadership in the institution. If the people at the top in the C-suite of the institution are focused on understanding why their organization isn’t performing as well as they expect it to be and are willing to look to the outside, that’s how it starts in my mind.”

— Thomas Luby, director TMC Innovation Institute, responding to a question from the audience about large organizations that tend to be slower adaptors to new technologies.

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Documentary featuring Houston Nobel Prize winner to air on PBS

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Not all heroes wear capes. In fact, our current coronavirus heroes are donning face masks as they save lives. One local health care hero has a different disease as his enemy, and you'll soon be able to stream his story.

Dr. James "Jim" Allison won the 2018 Nobel Prize in Physiology or Medicine for his work in battling cancer by treating the immune system — rather than the tumor. Allison, who is the chair of Immunology and executive director of the Immunotherapy Platform at MD Anderson Cancer Center, has quietly and often, singularly, waged war with cancer utilizing this unique approach.

The soft-spoken trailblazer is the subject of an award-winning documentary, Jim Allison: Breakthrough, which will air on PBS and its streaming channels on Monday, April 27 at 9 pm (check local listings for channel information). Lauded as "the most cheering film of the year" by the Washington Post, the film follows Allison's personal journey to defeat cancer, inspired and driven by the disease killed his mother.

Breakthrough is narrated by Woody Harrelson and features music by Willie Nelson, adding a distinct hint of Texana. (The film was a star at 2019's South by Southwest film festival.) The documentary charts Alice, Texas native as he enrolls at the University of Texas, Austin and ultimately, cultivates an interest in T cells and the immune system — and begins to frequent Austin's legendary music scene. Fascinated by the immune system's power to protect the body from disease, Allison's research soon focuses on how it can be used to treat cancer.

Viewers will find Allison charming, humble, and entertaining: the venerable doctor is also an accomplished blues harmonica player. Director Bill Haney weaves Allison's personal story with the medical case of Sharon Belvin, a patient diagnosed with melanoma in 2004 who soon enrolled in Allison's clinical trials. Belvin has since been entirely cancer-free, according to press materials.

"We are facing a global health challenge that knows no boundaries or race or religion, and we are all relying on gifted and passionate scientists and healthcare workers to contain and ultimately beat this thing," said Haney, in a statement. "Jim Allison and the unrelenting scientists like him are my heroes – and I'll bet they become yours!"

Jim Allison: Breakthrough premieres on Independent Lens at 9 pm Monday, April 27, on PBS, PBS.org, and the PBS Video App.

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This article originally ran on CultureMap.

Houston Methodist tech hub focuses on telemedicine training amid COVID-19 outbreak

virtual care

Houston Methodist's recently opened its new Center for Innovation's Technology Hub in January, and the new wing has already been challenged by a global pandemic — one that's validating a real need for telemedicine.

The 3,500-square-foot tech testing ground was renovated from an 18-room patient wing and showcases new digital health technologies like virtual reality, ambient listening, wearables, voice control, and more. The hub was focused on giving tours to medical professionals and executives to get them excited about health tech, but in the middle of March, Josh Sol, administrative director of Innovation and Ambulatory Clinical Systems at Houston Methodist, says they saw a greater need for the space.

"We turned the technology hub into a training center where physicians could come on site and learn telemedicine," Sol says. "We had some foresight from our leadership who thought that telemedicine was going to be heavily utilized in order to protect our patients who might go into isolation based on the outbreak."

The hub has trained over 500 physicians — both onsite and digitally. Sol says that at the start of March, there were 66 providers offering virtual care, and by March 25, there were over 900 providers operating virtually. On March 12, Houston Methodist had 167 virtual visits, Sol says, and on March 25, they had 2,421. This new 2,000-plus number is now the daily average.

"Telemedicine is here to stay now with the rapid adoption that just happened," Sol says. "The landscape will change tremendously."

Another way new technology has affected doctors' day-to-day work has been through tele-rounding — especially when it comes to interacting with patients with COVID-19.

"We are putting iPads in those rooms with Vidyo as the video application, and our physicians can tele-visit into that room," Sol says.

It's all hands on deck for the tech hub so that physicians who need support have someone to turn to. Sol says the hub used to have a two-person support team and now there are eight people in that role.

Sol says the iPads are a key technology for tele-rounding and patient care — and they are working with Apple directly to secure inventory. But other tech tools, like an artificial intelligence-backed phone system, an online symptom checker, and chatbots are key to engaging with patients.

"We're looking at how we can get our patients in the right place at the right time," Sol says. "It's very confusing right now. We're hoping we can streamline that for our patients."

The hub was designed so that in case of emergency, the display hospital rooms could be transitioned to patient care rooms. Sol says that would be a call made by Roberta Schwartz, executive vice president and chief innovation officer of Houston Methodist Hospital.