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University of Houston-founded company shares its lessons learned from accelerator programs

Houston-based Sensytec founder gives his advice for accelerating your startup. Miguel Tovar/University of Houston

A startup accelerator provides promising companies with an opportunity to boost their chances of marketing their technologies. These programs help small companies pivot their technologies strategically, interface with industry sectors and engage with mentor network to better pitch their ideas to the market.

Unfortunately, most startups will never have the chance to participate in an accelerator. But the information gained from such an experience can be valuable knowledge for all entrepreneurs who wish to accelerate their business.

Sensytec – a UH startup that developed smart cement to monitor the health of structures – was recently accepted into the Techstars Energy Accelerator. Techstars Energy is a highly competitive accelerator in Norway that partners with Equinor, Kongsberg, and Mckinsey to find sustainable technologies for the energy industry. Sensytec's smart cement technology is being considered for use in new oil and gas wells and concrete structures.

Sensytec president Ody De La Paz learned quite a bit about what companies are looking for when it comes to new technology and what entrepreneurs can do to boost their startups.

Understand where your tech fits into the market

Though joining Techstars to better position their smart cement technology to energy companies, De La Paz has learned the many ways in which his company's tech could be positioned to other markets.

"Recognizing the way the market is moving is critical to successfully pitching your tech to customers," he says. "But you have to be honest with yourself – your target market may not be the one you need to pitch your tech to make money."

According to De La Paz, this is where many inventors may miss their opportunity to profit.

"It's understandable that many researchers and inventors are passionate about the one problem they are trying to solve," he says. "But the real trick is trying to discover the solution currently needed by industry sectors – and that is continually changing."

His recommendation? Be open to any opportunity.

"It's not so much about you or your technology," he says. "It's about how your technology fits within an industry's business strategy. It's always about what the company needs, so there may be different applications to consider."

Focus on company values

Every decision made by industry will be focused on the bottom line. It's business, after all. But in addition to providing a high-value, low-cost solution for companies, aligning your tech with company core values may win over a few more hearts.

"Because we know that Equinor has a 'safety first' approach and values sustainability, we put together a solid business case to reflect those values," says De La Paz.

Current technologies used to monitor cement are not as accurate as they should be, says De La Paz. This leads to very costly solutions. So Sensytec built a business case that outlines how their technology accurately reports when cement loses structural health, allowing companies to proactively fix problems before they become disasters.

"We know exploration and drilling will continue," he says. "But if we can show how our technology is not only cost effective, but a safer choice for oil and gas companies like Equinor, we will align with their values and that's very important to them."

Seek feedback — and lots of it

One of the things De La Paz has experienced while in the Techstars Energy accelerator is the value of feedback.

In fact, he says you can't get enough of it, that every piece of feedback, every perspective gained is another clue that helps you figure out if your technology is needed and, if so, how to pitch it.

Here's what he suggests:

1. Interview as many customers as possible

According to De La Paz, every person working in that industry has perspective. He and his team have interviewed hundreds of experts, from the architect to the concrete manufacturer to subcontractors. "It's important to understand your customer and how they think about our technology," he says.

2. Find mentors

In addition to interviewing customers, select a few as mentors. Business leaders, strategists, and even everyday users, can help you toss around ideas.

3. Be honest with yourself

When you receive the feedback, be honest with yourself, says De La Paz. You may be better suited for another market or you may need to pivot your technology, but this will not happen if the feedback is not used wisely.

De La Paz also stress the value of patience and persistence during this process.

"It's a very long process and there's a lot you have to consider," he says. "But if you stay on top of everything and follow through, it will help your startup get moving more quickly."


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This article originally appeared on the University of Houston's The Big Idea.

Lindsay Lewis is the director of strategic research communications at UH.

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Karl Ecklund, left, and Paul Padley of Rice University have received a $1.3 million grant from the Department of Energy to continue physics research on the universe. Photo by Jeff Fitlow/Rice University

Two Rice University physicists and professors have received a federal grant to continue research on dark matter in the universe.

Paul Padley and Karl Ecklund, professors of physics and astronomy at Rice, have received a $1.3 million grant from the Department of Energy for their research to continue the university's ongoing research at the Large Hadron Collider, or LHC, a particle accelerator consisting of a 17-mile ring of superconducting magnets buried beneath Switzerland and France.

"With this grant we will be able to continue our investigations into the nature of the matter that comprises the universe, what the dark matter that permeates the universe is, and if there is physics beyond what we already know," Padley says in a press release.

This grant is a part of the DOE's $132 million in funding for high-energy physics research. The LHC has received a total of $4.5 million to date to continue this research. Most recently, Ecklund and Padley received a $3 million National Science Foundation grant to go toward updates to the LHC.

"High-energy physics research improves our understanding of the universe and is an essential element for maintaining America's leadership in science," says Paul Dabbar, undersecretary for science at the DOE, in the release. "These projects at 53 different institutions across our nation will advance efforts both in theory and through experiments that explore the subatomic world and study the cosmos. They will also support American scientists serving key roles in important international collaborations at institutions across our nation."

In 2012, Padley and his team discovered the Higgs boson, a feat that was extremely key to the continuance of exploring the Standard Model of particle physics. Since then, the physicists have been working hard to answer the many questions involved in studying physics and the universe.

"Over many decades, the particle physics group at Rice has been making fundamental contributions to our understanding of the basic building blocks of the universe," Padley says in the release. "With this grant we will be able to continue this long tradition of important work."

Paul Padley and his team as made important dark matter findings at the Large Hadron Collider in Europe. Photo via rice.ed

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