short stories

TMCx company recognized internationally, Cannon acquires Houston fintech startup, and more innovation news

From startup pitch competitions seeking applications to Houston startups with big news, here are the latest short stories of Houston innovation. Photo courtesy TMC Innovation

Houston's innovation ecosystem has been booming with news fresh out of the gate for 2021, and it's likely some might have fallen through the cracks.

For this roundup of short stories within Houston innovation, a TMCx startup gets called out by Time Magazine, pitch competitions seek entries for thousands of dollars of investment prizes, and more.

The Cannon closes its acquisition of LetsLaunch

The Cannon has announced that it has has acquired Houston-based crowdfunding startup LetsLaunch. Photo courtesy of The Cannon

Last summer, The Cannon, a Houston startup development organization with a network of coworking hubs, announced its plans to acquire a Houston fintech startup, LetsLaunch. The online investment platform allows for smaller investments from non-accredited investors and has been connected with The Cannon in the past, and the two entities have even had a partnership arrangement.

As of last week, The Cannon has officially acquired LetsLaunch. The deal allows Cannon member companies access to a new fundraising option.

"The Cannon and LetsLaunch have a shared vision for enabling and optimizing the innovation ecosystem," says Jon Lambert, CEO of The Cannon, in a news release. "LetsLaunch has passionately developed a technology platform that will deliver significant value to the entrepreneurial community by bringing together start-ups and investors of all kinds. By integrating the LetsLaunch platform into The Cannon's digital offerings, we will enhance the fundraising and strategic connection value we offer to our innovation community."

TMCx startup named to Time's top inventions

A U.K. company that recently participated in TMCx has been honored by Time Magazine. Photo courtesy of TMC

Health tech startup, Virti, which recently completed the Texas Medical Center's startup accelerator, was honored among Time Magazine's top inventions of 2020 in the augmented and virtual reality category.

Virti's artificial intelligence provides its users with instant feedback on training — and, in light of the pandemic, event indicates the right way to wear personal protective equipment, administer treatment, or ventilate a patient. According to a press release, this technology — as compared to traditional face-to-face training — has proven a 230 percent increase in knowledge gain and a 52 percent reduction in skill-fade post-training.

In the United Kingdom, where Virti was founded, the technology has been used to train 100,000 NHS staff, according to the release.

"This achievement rounds off what has been a very exciting year for Virti with significant growth in the United States and internationally building on successful partnerships such as the UK TMC BioBridge through the UK's Department for International Trade (DIT)," says Dr. Alex Young, Virti founder and CEO, in the press release.

Virti has US offices in Houston and the West Coast.

"The evidence is clear — immersive training that simulates real-world situations is more conducive to long-term memory and recall," says Lance Black, associate director of TMC Innovation, in the release. "Virti has unlocked how to provide high quality education to care teams to better prepare them for any situation as evidenced by their rapid adoption within the Texas Medical Center. The recognition by Time further demonstrates that Virti is ushering us into a new era of education and training, one that blurs the line between reality and fiction."

HX Venture Fund calls for Houston startups for pitch competition

The HX Venture Fund is looking for startups to pitch at a new event. Photo via Getty Images

The HX Venture Fund is preparing for two-day summit — called Venture Houston — next month and is looking for local startups to pitch in the conference's pitch competition.

According to the website, HXVF is looking for all pre-seed through series B companies interested in venture backing, and headquartered in Houston and the Gulf Coast Region. The competition has $1.65 million in investment prizes on the line from investors like Fitz Gate Ventures, The Artemis Fund, Montrose Lane (née Cottonwood Venture Partners), Mercury Fund, and more.

The application for the pitch competition is due January 15 and can be submitted online. If selected, startups will pitch during the February 4-5 event. To register for the virtual event, click here.

Validere announces partnership with California company to focus on ESG

Validere has a new partnership. Photo courtesy of Validere

Canadian energy supply chain software company, Validere, which has a growing presence in Houston, has announced a new strategic partnership with California-based Xpansiv. According to a news release, the partnership "enables the registration and transaction of digitized commodity products with embedded Environmental, Social, and Governance (ESG) attributes that support integration of ESG data into commodity markets."

Validere works with its oil and gas customers to provide tech solutions to connect, track, and audit data, allowing for transparency and optimization. This technology also allows corporations to prioritize ESG initiatives — something Nicole Rogers, senior vice president at Validere, recently joined the Houston Innovators Podcast to discuss.

"Validere is proud to partner with Xpansiv to provide another pathway to value creation for our customers," Validere CEO Nouman Ahmad says in a news release. "The initiative supports our defining belief that accurate, accessible product-quality data can be used to create multiple forms of value."

Apply now: Capital Factory to host pitch competition for Black entrepreneurs

Capital Factory is hosting its annual Black in Tech event. Getty Images

For the third year, Capital Factory, a Texas-wide startup development organization, is seeking Black entrepreneurs to pitch for a $100,000 prize. The competition, which will be on February 16 during Capital Factory's Black in Tech Summit, will have five technology startup finalists that will be judged by a panel of successful entrepreneurs, industry leaders and mentors. One startup will take home a $100,000 prize.

The application deadline is January 22, and any startups with a Black founder can apply online. For more information on the summit and the competition, click here.

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Houston-based Soliton can use its audio pulse technology to erase scars, cellulite, and tattoos. Photo via soliton.com

Soliton, a Houston-based technology company, is using audio pulses to make waves in the med-aesthetic industry.

The company, which is licensed from the University of Texas on behalf of MD Anderson, announced that it had received FDA approval earlier this month for its novel and proprietary technology that can reduce the appearance of cellulite.

MIT engineer and doctor Christopher Capelli first developed the basis of the tool while he led the Office of Technology Based Ventures at M.D. Anderson.

Capelli uncovered that he could remove tattoos more effectively by treating the skin with up to 100 waves per second (about five to 10 times greater than other devices on the market), giving birth to the company's proprietary Rapid Acoustic Pulse (RAP) platform.

In 2012 he formed Soliton with co-founder and entrepreneur Walter Klemp, who also founded Houston-based Moleculin, and later brought on Brad Hauser as CEO. By 2019, the company had received FDA approval for using the technology for tattoo removal.

"The original indication was tattoo removal, which is what Chris envisioned," Hauser says. "The sound wave can increase in speed whenever it hits a stiffer or denser material. And tattoo ink is denser, stiffer than the surrounding dermis. That allows a shearing effect of the sound wave to disrupt that tattoo ink and help clear tattoos."

According to Hauser, the team then turned to a second application for the technology in the short-term improvement in the appearance of cellulite. With the use of the technology, patients can undergo a relatively pain-free, 40- to 60-minute non-invasive session with no recovery time.

Brad Hauser is the CEO of Soliton. Photo courtesy of Soliton

"It works similarly in the fibrous septa, which are the tethered bands that create the dimples and cellulite and the uneven skin. Those are stiffer than the surrounding fat cells in the subcutaneous tissue," Hauser says. "That allows the technology to disrupt those fibrous septa and loosen and release the dimples."

In 2021 the company plans to commercialize their product and get it into the hands of dermatologists, plastic surgeons, and other medical professionals for 25 key accounts—potentially including ones Houston—with a plan for a national rollout in 2022.

And they don't plan to stop there.

The company has already announced a partnership for a proof-of-concept study with the U.S. Navy in which Soliton will aim to use its technology to reduce the visibility of fibrotic scars, and more importantly work to increase mobility or playability of scars.

"Often the scar ends up causing restrictions in motion and discomfort with pressure of even clothing and certainly with sleeping," Hauser says. "We believe based on the reduction in volume and the increase in playability that we saw in our original proof-of-concept study that we will be able to bring benefits to these military patients."

Work on the study is slated to begin in the first half of this year.

In the meantime, the company is making headway with treatment of liver fibrosis, announcing just this week that it's pre-clinical study in animals demonstrated positive results and a reduction in effects by 42 percent seven days after the completion of carbon tetrachloride (CCL4) induction. The RAP technology was also named the best new technology by the Aesthetic Industry Association earlier this month.

"It's really targeting collagen fiber and fibroblasts on a cellular level" Hauser says. "Which we think has numerous potential uses in the future."

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