Recipe for success

Houston needs these 4 ingredients to be a world-class innovation hub

Houston has the potential to be a leader in innovation — we just need four things. Getty Images

Is Houston innovative? We put a man on the moon, are curing cancer, and are performing engineering miracles in the oilfield daily. But we don't have the Googles or Amazons of the world or a bustling startup or venture capital scene.

Painfully, Houston was the only one of the 10 largest U.S. metros not to be among the 20 final locations for Amazon's HQ2. By most measures of innovation leadership, Houston is hardly number one in Texas, let alone nationally.

This is a problem. Today, technology innovation is integral to success whether it be using artificial intelligence to improve oil production or patient care, and companies and entrepreneurs will go wherever they need to for the next growth opportunity. If we want the next man-on-the-moon success in Houston and to defend our leadership in energy, health care, etc., we need to be a leader and destination for driving innovation.

So, how does a city like Houston transform itself into a digital technology and innovation leader? That was the core question for a strategy that I led for Accenture working with the Greater Houston Partnership and the mayor's Technology and Innovation Taskforce in early 2017.

After analyzing successful innovation ecosystems around the world, we identified four critical components that make a city a world-class digital innovation location:


Courtesy of Accenture


Talent
You need talent with the right skillsets and mindsets. A modern digital ecosystem needs developers, designers, data scientists, and more. They must also have the right mindset and be able and willing to take risks and do difficult things.

Houston already has tremendous amounts of STEM talent but doesn't produce enough talent or retain enough of the locally-grown talent. To jumpstart, we are going to have to import it initially. The main focus is attracting a large digital company to Houston (e.g. Tesla, Google). This would simultaneously bolster our talent base and image, while also providing opportunities for Houston students to stay and pursue their careers in digital innovation.

Collisions
World-class cities manage to create collisions between talent that spark huge opportunities. Think Steve Wozniak meeting Steve Jobs and Bill Gates meeting Paul Allen. Importantly, they must also collide with customers, investors, other start-ups, academia, people of different backgrounds, and even lawyers (sigh).

In Houston, we've seen this same network effect with the Energy Corridor and Texas Medical Center, but we need a similar setup for digital innovation. That's why the planned Innovation District in Midtown, funded by Rice University, is a game-changer.

Resources
Houston has significant capital in corporations and high-net-worth individuals but is short on angel or venture capital, which would otherwise bring not only money, but also mentorship and connections for young companies.

Detroit had success overcoming this with a 'fund of funds' model, pioneered by Chris Rizik. Local corporations invest in the fund-of-funds which, in turn, invests in venture funds from outside of the state. Their primary motivation should be to earn a return for their investors, but they are asked to look at local companies and spend time in the ecosystem.

The Houston Exponential Venture Fund led by Guillermo Borda recently had its first close of $25 million, and I'm optimistic it'll double or triple in size in the near future.

Impact
Successful ecosystems know how to scale and turn a small company into an international Goliath in just years.

For Houston to be successful in scaling, we must align startups to our local industries, and they must stay and grow here. To solve this challenge, Houston is focusing on becoming famous in certain core themes, including robotics/autonomous systems, data science, industrial IoT, and cybersecurity. These are what our industries – and the world – need, have large inflows of venture capital, and are what Houston has unfair advantage in.

At the end of the day, all four ingredients are essential; none can go to zero or the multiplying effect won't happen. We have to get all of these areas right, all at once. No one company, institution, or sector of the economy can solve the challenge alone. That's why organizations like Houston Exponential and the plans for Houston's Innovation District have been popping up so solve this problem and create connections.

It's an incredibly exciting time for Houston with so much momentum, growth, and demand. We have made bold bets in the past, with our port, TMC, the Space Center, and many more. It'll be a mistake not to carry that legacy forward with a bold new bet for the twenty-first century.

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Brian Richards is Houston innovation hub director at Accenture and board member at Houston Exponential. Read more about him and his career here.

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Building Houston

 
 

Not everyone is as holly jolly amid the holidays. Image via Getty Images

It’s a grinch's cyber-playground, and this holiday season, you’re at risk — even if you think it won’t happen to you.

The good news is you can protect yourself from scams and fraud. Just remember that cybercriminals don’t discriminate, they can prey on anyone.

These statistics may surprise you:

  • Anxiety about having a mobile device hacked differs by demographic; low-income Black women rank mobile security as their number one concern, while the general population ranks mobile security as their third largest concern, according to a recent Recon Analytics survey of more than 3,297 U.S. consumers.
  • 44 percent of millennials have been victims of online crime in the last year and 31 percent admit they share their passwords with others.
  • Romance scams resulted in the most financial losses for adults aged 60 and over
  • Younger consumers took fewest actions after being notified of a data breach affecting their identity/online accounts in Q1 2022
  • Nearly 50 percent of American gamers have experienced a cyberattack on their gaming account or device
  • 47 percent of women who live in cities say their identities and/or data has been compromised in the past 6 months due to lack of home internet protections, compared with 53 percent of city men who say the same thing, according to a recent Recon Analytics survey.

People everywhere, regardless of gender, race, income level, education, or age, deserve to feel safe online. And yet, many aren’t aware how to protect themselves, don’t make it a priority, or wait to act until they are alerted to suspicious activity.

With words like malware, phishing, spoofing, and encryption, learning to protect yourself can feel like a college-level course. But it doesn’t have to be that complicated.

Top 5 ways to guard against cyberthreats

By following five simple steps, you can start to protect your network, devices and data from many digital threats.

  1. Understand cyberattacks are real. One of the first hacks was documented in 1963 and today, nearly 60 years later, hackers are attacking phones and computers every 39 seconds. Cyberattacks continue to grow in number every year.
  2. Be proactive. Don’t wait for an attack to happen. Monitor your accounts daily so you are the first to know if suspicious activity is occurring. Check with your wireless carrier to see if they have tools to help. AT&T customers can download the free ActiveArmor mobile security app to help block spam calls and secure their personal data. And ask your internet provider about extra layers of security available to you at home. AT&T Fiber customers can access AT&T ActiveArmor internet security features at no additional cost to them.
  3. Step up your mobile security. Mobile devices now account for more than 60 percent of digital fraud. Mobile banking, online shopping, streaming videos and storing documents make our phones a central location for sensitive information. Your wireless carrier may be able to help. AT&T offers advanced security like Public Wi-Fi Protection, Identity Monitoring and Safe Browsing for no extra charge with some of our plans. Check with your carrier to make sure they’re doing what they can to keep you safe.
  4. Protect your passwords. We all know it’s necessary, but not all of us take steps to do it. 68 percent of people admit to using the same password across multiple logins. Using a strong password that differs from site-to-site will help decrease your chances of being hacked. If you struggle with passwords, consider getting a password manager.
  5. Report suspicious text messages. As mobile operators have more success blocking illegal robocalls, scammers have turned to text messages. But now it’s easier than ever to report spam texts to help block and control them. The latest iOS and Android operating systems have a simple reporting feature in their Apple and Google messaging apps.
Dedicate some time to safeguard your information this holiday season. For more cybersecurity resources (regardless of your carrier), visit att.com/CyberAware. If you or someone you know is new to computers or mobile devices, click here for more information on our free digital literacy courses.

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Luis Silva is vice president and general manager at AT&T.

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