virtual tour

Photos: Check out TMCx's recently renovated space

When it's safe to do so, TMCx cohort companies and health tech coworkers will return to a redesigned and upgraded space. Photo courtesy of TMCx

Slightly before the pandemic prevented business as usual for startups and coworkers at the Texas Medical Center's Innovation Institute, the organization had just recently completed a redesign of its space.

The point of the renovation, says Tom Luby director of TMC Innovation, was to better optimize the facilities for interaction between startups and health care innovators.

"We are very careful in our thinking around space, because it's an incredibly important part of how you develop what we think as a dynamic and interactive community," Luby says.

The renovation, which began in the late summer of last year, re-imagined 30,000 square feet of the TMC Innovation Institute and was designed by Houston-based MARS Design. The updates created 21 private pods, increased hot desk space by 25 percent to 21 tables, and doubled the conference rooms from four to eight. These are available for the TMCx cohort companies, as well as hot desk and dedicated space members.

"When you think about coworking or community space, you pretty much can never have too much conference rooms," Luby says.

The pods, which are different from cubicles, are especially key for the cohort companies. While the 2020 cohort is currently operating virtually, the nine startups will each have their own space once it's safe for them to travel to Houston. (A startup bootcamp in February did get to use the new space before the closures.)

Luby says with as international as each cohort is, creating a welcoming environment for the startups to settle in and get to work is important.

"When it comes to the cohort companies, we wanted to create a space that can get them excited to be in and stay longer in Houston," Luby says. "We recruit companies from all over the country and all over the world."

Luby explains that the cohort is meant to connect the startups to opportunities in Houston — like pilot programs or clinical trials — but their physical presence is also important.

"But the space matters to them as well," Luby says. "If they are going to imagine staying in Houston for six months, they have to have great space in order to be able to do that. That was a real driving factor to why de developed the pods the way we did."

Designed for small companies

Photos courtesy of TMCx

The space features 21 private pods for TMCx cohort companies. The extras are available for rent.

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Building Houston

 
 

VR training startup, HTX Labs, has raised funding from an outside investor for the first time. Courtesy of HTX Labs

HTX Labs, a Houston-based company that designs extended reality training for military and business purposes, announced last week that it has raised its first outside capital.

The company has received a $3.2 million investment from Cypress Growth Capital. Founded in 2017, HTX Labs — developer of the EMPACT Immersive Learning Platform — has been granted funding from the Department of Defense as well as grown its client base of commercial Enterprises. The platform uses virtual and extended reality that "enables organizations to rapidly create, deploy, measure, and sustain cost-effective, secure, and centralized immersive training programs, all within engaging, fully interactive virtual environments," per a news release.

“We have been looking to secure outside capital to accelerate the growth of our EMPACT platform and customer base but we hadn’t found the right partner who provided an investment vehicle that matched our needs,“ says HTX Labs CEO Scott Schneider in the release. “We found everything we were looking for in Cypress Growth Capital. They have a non-dilutive funding model that aligns with our capital expectations and have the level of experience that really makes this smart money.

"Cypress has a decade-long track record of success in helping emerging software and services companies achieve scale," he continues. "It is clear that the team’s collective entrepreneurial and operating experience will be of tremendous benefit to us as we focus on expanding our customer base in a very intentional way.”

The fresh funding will go toward growing and scaling the company's operations — both within the current Department of Defense and expansion opportunities into key commercial markets, like heavy industry, manufacturing, and higher education. Additionally, the funding will support increased customer adoption.

“Scott and his team have built an exceptional business that is poised for dramatic growth,” says Cypress Partner Pat McCaffrey in the release. “HTX Labs’ modern, immersive training solution provides clients with a force multiplier for modernizing training and an unmatched ROI.”

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