TMC PULSE

t m c » p u l s e | s e p t e m b e r 2 0 1 5 22 22 I n the auditorium at the University of Houston's (UH) student center, Hesam Panahi, Ph.D., founder of UH's RED Labs startup accelerator, and Kerri Smith, managing director of Rice University's OwlSpark startup accelerator, embraced their roles as stewards of entrepreneurship with gusto. Wearing clean-cut blazers draped over red and blue t-shirts stamped with their programs' insignias—the unofficial uniform of the day—they effortlessly blended business profession- alism and Silicon Valley chill. As they kicked off the second annual Bayou Startup Showcase, jointly hosted by the two programs to celebrate Houston's startup community and give the teams a chance to pitch their ideas, a narrative of perseverance began to unfold. "As you can imagine, putting together a program like this takes quite a bit of time, and packaging it into a comprehensive effort takes a while," said Smith, also associate managing director of the Rice Alliance for Technology and Entrepreneurship. "For us, we started developing the curriculum for this year eight months ago, shortly after the close of last year's pro- gram. And we thought we had it all figured out… until this happened." An image flashed on the screen at the front of the stage—a car completely submerged; tides lapping at the edges of a dumpster; forlorn looking stop signs failing to keep the rising water levels at bay. "This was launch day," Smith continued, referring to the May 26 thunderstorm that left many neighborhoods through- out Houston flooded. "Our bayous were spilling over, our streets were underwater, our phones that morning were blowing up—we had caterers lined up and speak- ers confirmed, and we weren't sure whether to cancel or postpone. In the end, we decided to forge ahead and launch that day. Our founders? They showed up, they plugged in, they engaged, and they helped us give a whole new meaning to a bayou startup summer." Taking place throughout the summer, RED Labs and OwlSpark provided a twelve-week, experi- ence-based education in entrepreneurship. Open to students at any level and studying any major— as well as faculty, researchers, and recent alumni— the two programs enabled budding company founders to form teams around technology-based business ideas that they believed would serve as the basis for a startup. "We vet our teams through a highly selective appli- cation process that targets promising, scalable busi- ness opportunities," noted Smith. "Once our teams are selected, we then provide a curriculum based around mentorship, leadership, and educational programs. Then, we connect them with subject matter experts, mentors, advisors and coaches who can help them test the assumptions and hypotheses they've made about their business." With 14 combined startups between the two programs, the teams this year represented a diverse cross-section of ambitious ideas from equally distinct industries, ranging from consumer products to health care. Among them were a subscription service provid- ing board game enthusiasts with undiscovered, but professionally reviewed, games; a collapsible, high- resolution, 24-inch screen for business professionals on the go; a mobile app that provides customized meal plans for cancer patients; even an auto company crafting what they describe as "the first luxury electric car." Condensing concepts that complex into succinct, five-minute pitches was no easy feat. "Through a series of pitch practices, our found- ers received advice from communication experts," explained Smith. "We wanted to help them more clearly articulate and succinctly convey the vision and value propositions they were offering. We created a community, a culture, and an environment that let our founders experience the value of working along- side like-minded thinkers and doers." The startup founders had an impressive pool of expertise to draw from. Throughout the summer, they learned from over 75 different mentors, coaches, jour- nalists, and other community leaders that lent their time and support. "Our founders also came together every Tuesday for dinner and conversation; we call these, 'founders meetings,'" said Panahi, a clinical assistant professor at UH's C.T. Bauer College of Business. "At founders meetings, we share our achievements, our challenges, and our next steps. But we also do something else that's really important—we challenge and support each other. Many times throughout the course of the sum- mer, one founder has been able to introduce another to a potential mentor, customer, or someone that can move their company forward. "We encourage our founders to work with and learn from each other, but we're also building a community," he added. "With each cohort, our alumni web grows, creating a powerful network effect. We bring founders Showcasing Student Startups At the second annual Bayou Startup Showcase, Rice University and the University of Houston's accelerator programs come together for a joint celebration of entrepreneurship B y A l e x O r l a n d o

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