New to town

Exclusive: Out-of-state venture firm specializing in research-based startups expands into Houston

A new venture development company has expanded into Houston with a Texas Medical Center office. Photo by Dwight C. Andrews/Greater Houston Convention and Visitors Bureau

For an Arkansas-based technology venture development firm that focuses on research-based companies coming out of universities, the Lone Star State was a tempting spot for expansion.

VIC Technology Venture Development has appointed James Y. Lancaster as the Texas branch manager. Lancaster, who lives in College Station, will oversee business there, in Dallas, and in Houston. Locally, he will work out of a TMC Innovation Institute office.

"I am excited to be working to TMC member institutions to provide a new avenue for commercializing their technologies, expanding on our fast start in Texas with an exciting opportunity in the Houston innovation ecosystem," Lancaster says in a release.

VIC specializes in taking university-founded research innovations to the marketplace by partnering with technology and business experts at every stage of the process.

The company already has a presence in Dallas with Dr. Ralph Henry, who is an entrepreneur in residence at the University of Texas Southwestern Medical Center and also serves as VIC's vice president of life science and medical technology. VIC's first Texas portfolio company was Solenic Medical, which was brought on in February of this year.

According to the release, the company's presence in Houston might be similar to that of its arrangement in Dallas, focusing on leveraging the resources of the TMC.

"Our local presence will include new technology assessment and licensing, along with expanding our national investor network. Of course, the end goal is to have a string of startup company successes based on TMC inventions, as well as the potential to license technology from across the country into new companies located in Texas," Lancaster continues in the release.

Lancaster has over 25 years of experience across industries. Prior to VIC, he was the founder and managing director of the Innovate Family of Companies including Innovate CXO Services, Innovate Angel Funds, and Innovate BCS Development in College Station. He's also worked with and advised companies coming out of the Texas A&M University System for 12 years.

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Building Houston

 
 

This week's roundup of Houston innovators includes Gaurab Chakrabarti of Solugen, Sandy Guitar of HX Venture Fund, and Cameron Owen of rBIO. Photos courtesy

Editor's note: In this week's roundup of Houston innovators to know, I'm introducing you to three local innovators across industries — from synthetic biology to venture capital — recently making headlines in Houston innovation.

Gaurab Chakrabarti, the CEO and co-founder of Solugen

Gaurab Chakrabarti shared his entrepreneurial journey on the SXSW stage this year. Photo courtesy of the Greater Houston Partnership

Houston doesn't have too many unicorns — startups valued at $1 billion or more — in its innovation ecosystem, but Solugen, a sustainable chemicals company, is among the elite group. Gaurab Chakrabarti, the CEO and co-founder of the company, joined Houston House by the Greater Houston Partnership, to share his story on the SXSW stage.

“You do make your own luck, but you have to be putting in the work to do it," Chakrabarti says, adding that it's not an easy thing to accomplish. “There are things you can be doing to increase your luck surface area."

He shared several lessons he learned on his founder journey in the discussion. Read more.

Sandy Guitar, managing director of HX Venture Fund

Sandy Guitar shares some lessons learned from the fallout of Silicon Valley Bank. Photo via HXVF

Following the failure of Silicon Valley Bank, there's one thing Sandy Guitar can say has changed for Houston innovators: Bank diversification is going to be a must.

“We didn't think we needed one last week, but this week we know we need a resilience plan," she says, explaining that bank diversification is going to be added to "the operational due diligence playbook." Read more.

Cameron Owen, co-founder and CEO of rBIO

San Diego-based rBIO moved to Houston to take advantage of the growing ecosystem of biomanufacturing and synthetic biology. Photo courtesy of rBIO

Founded in San Diego, rBIO recently relocated to Houston and has big plans for settling in the city, says Cameron Owen, the company's co-founder and CEO.

“Companies from California like us and the coastal areas were converging here in Houston and creating this new type of bioeconomy,” he tells InnovationMap.

He shares that Houston wasn't originally on his radar, until it was. A visit turned into a relocation, and it's just the beginning for the biotech startup that's focused on using synthetic biology for pharmaceuticals. Read more.

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