Category: Austin (Page 119 of 318)

By LAURA LOREK
Reporter with Silicon Hills News

Professor-led startups at the University of Austin at Texas just got a big boost in grant funding this week.

Bob Metcalfe, director of the Innovation Center at UT and professor of innovation, and Robyn Metcalfe, director of Food+City at UT, donated $100,000 through their Metcalfe Family Foundation to support Innovation Grants.

It’s a case of putting their money where their passion lies.

Bob Metcalfe, inventor of Ethernet, co-founder of 3Com and a faculty member of the Cockrell School of Engineering for six years, has been a huge proponent for spinning out startups from research being done at the university. He has led the Longhorn Startup program with Joshua Baer, founder of Capital Factory, to instill entrepreneurial skills in undergraduates.

For the past few years, Metcalfe has shifted his focus to helping professors commercialize their successful research.

Robyn Metcalfe has also led Food+City, formerly the Food Lab, at UT for the past six years. The organization publishes online and through an annual print magazine. It also hosts events and an annual Food+City Challenge Prize with $50,000 in prizes.

“We’ve had a family foundation for some years supporting higher education, and Robyn and I are now immersed in startup activity at UT. We see it as the obvious way to get successful research results to market,” Metcalfe said.

While professors can get money for research, funds aren’t available to commercialize that research, Metcalfe said. The Innovation Center grants bridges the gap between research and commercialization, he said.

On Wednesday night, both attended the monthly Startup Studio on the 10th floor of the Ernest Cockrell Engineering building to watch three professors pitch their technology. The Innovation Center has held these studios for five years showcasing the work of 135 professors to date. The Greater Austin Chamber of Commerce and WeWork sponsor the monthly events.

The Innovation Grants, which range from $5,000 to $50,000, help professors assess and advance the “commercializability” of their technology, Metcalfe said.

In addition to the Metcalfe Family Foundation gift, the Innovation Center also received $100,000 gift from Fidelity Investments, a $10,000 gift from Michael Best & Friedrich LLP, a national law firm based in Milwaukee, Wisc., and a $5,000 gift from Nokia Bell Labs.

The goal is to raise $2 million for Innovation Grants annually and to fund 24 protostartups a year, Metcalfe said.

“Protostartups is a word we invented to describe a wide range of early startup development stages,” according to a news statement from Metcalfe. “We expect that as protostartups mature, they will incorporate, license technologies, raise additional research funding, raise venture funding, recruit personnel, develop products, sell products, record revenue, and move off campus, not necessarily in that order.”

The Innovation Center works with other organizations within the UT startup ecosystem including the Austin Technology Incubator, Office of Technology Commercialization, Texas Venture Labs, Dell Medical School’s Texas Health Catalyst program and the National Science Foundation’s I-Corps program.

The Innovation Center has already awarded two grants — both to mechanical engineering professors. Luis Sentis received $40,000 for his robotics startup Apptronik, which makes actuators, the motors controlling robotic movement. Richard Crawford, who runs nVariate, a software design startup, received $20,000.

“Last spring, Professor Sentis came to us and demonstrated the revolutionary actuator, and Bob helped him identify the path to the market, Louise Epstein, managing director of the Innovation Center, said in UT News story. The gifts to the Innovation Grants fund are critical to bridging the gap to commercialization for these startups, Epstein said.

For more information, contact Louise Epstein at Louise.Epstein@utexas.edu about making a tax deductible gift for the Innovation Grants.

Correction: this article has been updated to clarify the type of funding provided.

“The only thing that separates my success from all those other people who want to be successful so bad is doing it,” William Hurley, known as Whurley, serial entrepreneur and cofounder of Honest Dollar, acquired by Goldman Sachs and Chaotic Moon, acquired by Accenture.

For anyone paying any attention in Austin, it’s been quite a year for William Hurley.

In March, he announced the sale of his fin-tech startup, Honest Dollar, to Goldman Sachs and then he hosted a special fundraiser for President Barack Obama and the Democratic National Convention on the first night of South by Southwest Interactive. He also helped bring the first SXSL, a mini-SXSW to the lawn of the White House. And he’s attended numerous events at the White House throughout the year.

On top of that, Whurley became a global advocate for women in the Science, Technology, Engineering and Math fields. He joined ITU and United Nations Women in September to launch Equals: the Global Partnership for Gender Equality in Digital Age, which focuses on getting more women to use information and communications technology worldwide to promote the empowerment of women.

And he started the year off as one of our featured tech entrepreneurs in the second annual Silicon Hills News’ 2016 Austin Tech Calendar.

Now, Whurley is touting the benefits of international travel on British Airways for Austin entrepreneurs. British Airways began offering direct flights to London from Austin daily in 2014.

Editor’s note: Whurley and Honest Dollar have been sponsors of Silicon Hills News in the past.

By LAURA LOREK
Reporter with Silicon Hills News

Ever try to buy a bike online or a pair of skis? It’s difficult to tell what size equipment will fit.

That’s the problem Bold Metrics is trying to solve with its proprietary software that relies on algorithms and data science to accurately provide body measurements that will assist retailers in providing customers with the right equipment.

The Austin-based company first applied its technology to the fashion industry as Fashion Metric. But on Tuesday, it announced plans to rebrand to Bold Metrics “the gold standard for predicting body measurements.”

Bold Metrics better reflects the new markets in which the company plans to apply its body measurement software. In addition to Fashion Metric, Bold Metrics will now have Sport Metric and VR-Metric.

“We’re excited about the change and about the ability to explore all of the applications for the technology we built.,” said Daina Burnes, the company’s cofounder and CEO.

The company, founded in 2013 and a graduate of the Techstars Austin class of 2014, has nine full time employees and 13 altogether. It also has a sales office in the San Francisco Bay area of California. It has raised $2.63 million since its inception.

Bold Metrics has one of the largest data warehouses of human body measurements. It plans to tap into the database to expand into the new areas of sporting equipment in which people need to buy a bike, skis or golf clubs online. For those purchases, they need accurate body measurements to find the best fit, Burnes said.

“The core of our technology is really in actively predicting someone’s body measurement,” Burnes said. “The initial market was in apparel. But we believe the applications for body measurement is much greater than just apparel.”

It is also seeing a demand for its software in the virtual reality industry by helping people to create authentic avatars. People are not going to shop on flat screens and mobile devices forever, said Morgan Linton, the company’s cofounder and CRO.

“Two or three years from now, people will put on VR goggles and try clothes on and look in the mirror,” Linton said.

Initially, Fashion Metric’s team created software that used machine learning and mathematical algorithms to make it possible for online shoppers to get fitted for custom clothing without the need for a measuring tape, a selfie, or a physical body scanner.

In 2015, Fashion Metric expanded its reach into the ready-to-wear space, and now powers some of the world’s largest retailers and brands behind-the-scenes in their white-labeled fitting solutions.

“We take the friction out of the buying process online,” Linton said. “It’s been an amazing journey and incredibly satisfying to see our technology become the gold standard for predicting the human body.”

Google’s self-driving car project is now Waymo, an independent company spinning out of Alphabet company.

And it has a major presence in Austin.

In fact, Waymo achieved a huge technical milestone in Austin on its path to independence. Unbeknownst to many until now, Waymo completed the world’s first fully self-driven ride on public roads in Austin.

Steven Mahan, who is blind, rode in a prototype vehicle in Austin and cruised around a neighborhood all by himself without a steering wheel, no pedals and no one else in the car. The ride took place in October of 2015.

“For nearly eight years, we’ve been working towards a future without the tired, drunk or distracted driving that contributes to 1.2 million lives lost on roads every year,” John Krafcik, CEO of Waymo, wrote in a post on Medium. “Since 2009, our prototypes have spent the equivalent of 300 years of driving time on the road and we’ve led the industry from a place where self-driving cars seem like science fiction to one where city planners all over the world are designing for a self-driven future.”

“Today, we’re taking our next big step by becoming Waymo, a new Alphabet business,” Krafcik wrote. “Waymo stands for a new way forward in mobility. We’re a self-driving technology company with a mission to make it safe and easy for people and things to move around.”

Google launched its self-driving car project in Austin in mid-2015. It plans to continue operating here now as Waymo. The company has published a series of monhtly reports from its experiences in Austin on Medium.

“As a company, Waymo’s next step will be to let people use our vehicles to do everyday things like run errands, commute to work, or get safely home after a night on the town,” according to a news statement.

By LAURA LOREK
Reporter with Silicon Hills News

Austin and the U.S. overall still have a challenge with diversity in entrepreneurship.

A low percentage of African American, Latino and women owned businesses have access to the resources they need to grow, said James Preston, co-founder of DivInc., a startup accelerator focused on diversity in Austin.

“Diversity in entrepreneurship is just the right thing to do,” James said.

That’s why James created DivInc. along with Ashley Jennings, Dana Callender and Dan Austin. Its mission is to empower and enable founders of color and women to build highly scalable startups, James said. Its 12-week accelerator program brings essential resources like advisers and investors to startup businesses and provides a mentor network to entrepreneurs, James said.

DivInc. also provides a platform to showcase entrepreneurs of underrepresented communities like people of color and women so they can inspire others to follow in their paths, Preston said.

DivInc’s goal is to make Austin the most diverse entrepreneurial ecosystem in the country, James said.

“We are bridging a gap between the existing startup ecosystems and these demographic communities who have traditionally not had access to the resources in the startup ecosystem,” James said.

DivInc.’s program culminates in a Demo Day, which it hosted Thursday evening at Google Fiber’s event space in downtown Austin. About 200 people turned out for the event featuring members of its first cohort delivering short pitches of their startups on stage. The mentors included Kerry Rupp, co-founder of True Wealth Ventures, Zachary Maurais, co-founder of Favor, Mark Phillip, founder of Are You Watching This and Oji Udezue with Spiceworks, among many others.

Jennings and Callender served as the master of ceremonies for the evening. Each of the cohorts had a mentor introduce them and then they gave their pitches. Here’s a list of the entrepreneurs and a brief description of their companies.

Revealix – Adrianna Cantu, co-founder, a former wound care clinician and an executive with a healthcare company, created a startup focused on skin care. Revealix is a healthcare startup helping providers “see the unseen.” It’s taking existing sensor technology and plugging that into any mobile platform and using its proprietary software to assess and help diagnose skin damage and complications.

Ayoopa – Wayne Lopez, founder, created a website platform that allows consumers to rent adventure gear for hiking, kayaking, paddle boarding, mountain biking and more. The idea is to provide access to expansive adventure gear for rental, instead of ownership.

Mama English – YiShaun Yang , founder, created iOS and Android apps that allows non-native English speakers to learn how to speak situational English dialogue. The product is focused on the Chinese market initially.

Redenim – Kelly Ernst, founder of a fashion startup that lets people rent high-end designer jeans online for $29 a month. “Our vision is pretty straight forward, we want you to get in our pants,” Ernst said. The site launched this month and is offering a one month free membership, she said.

Hauoli – Lili Qiu, founder of Hauoli, has created a new mobile user interface, an alternative to a mouse or remote control, to interact with TVs, lights, watches, gaming, smart appliances and other applications. Qiu, professor of Computer Science at the University of Texas at Austin, developed a motion tracking technology based on echolocation. Her plan is to license the technology to mobile phone companies or other device makers.

Confirmx – Dr. Sherard Houston, founder and CEO of Confirmx, is an ER doctor who understands the plight of emergency rooms and clinics to acquire customers in a better way. There is a direct correlation between customer satisfaction and the longer a customer waits, he said. Confirmx is a marketplace of emergency rooms and urgent care centers that allows patients to check in online with a minimal wait time, Houston said.

Plume – Bobby Menefee, founder of Plume, a web and mobile applications that allows Millennials to build and track their credit scores.

CodersLink– Jesus “Tito” Salas, founder, launched a San Antonio-based startup that connects employers in the U.S. to tech talent in Mexico.

Homads – Vi Nguyen and Lan Chu founded an online marketplace for month to month rentals. It allows renters flexibility to find a short term rental at an affordable price.

One of the pioneers of Austin’s technology industry, Pike Powers has been named 2017 Texan of the Year by the Texas Legislative Conference.

Powers is well deserving of the award. Powers is the long-time managing partner of the Austin office of Fulbright & Jaworski (now Norton Rose Fulbright).

Past recipients of the award include his former law partner Leon Jaworski, U.S. Senator John Cornyn, Texas House Speaker Joe Straus, the late Congresswoman Barbara Jordan, and former First Lady Laura Bush.

Powers will receive his award at a reception the evening of March 23, 2017. The half day conference will begin the next day in New Braunfels.

“Pike Powers helped turn Austin from a university town into a high-tech powerhouse. He was instrumental in attracting MCC, 3M, Sematech and Applied Materials, as well as AMD and Samsung expansions and other manufacturing and research operations to Austin,” 2017 Conference Chair Doug Miller said in a news release. He has represented New Braunfels and three surrounding counties in the Texas House of Representatives. “Simply put, Pike has played an integral role for more than 30 years in developing the Austin and Texas technology economy.”

Powers is one of a handful of people who worked diligently to bring the MCC headquarters to Austin. That was the beginning of Austin’s big semiconductor tech industry and earned the region the nickname Silicon Hills. He participated on a panel discussion at South by Southwest Interactive last year on how Austin became a tech boom town.

Powers, who is from Beaumont and graduated from Lamar University and the University of Texas Law School, is a former member of the Texas House of Representatives, representing Jefferson County. In 1983, he served as chief of staff to Texas Governor Mark White. Since that time, Powers has been instrumental in developing Austin’s technology industry and diversifying Texas’ overall economy. He has been an adviser to many technology companies moving to Austin and just starting out here.

A popular mantra in Austin is the call to think bigger.

The new Dell Medical School is part of that movement. Its Center for Place-Based Initiatives is asking people to submit ideas aimed at “improving the health of vulnerable communities in Central Texas, especially those in Austin and other parts of Travis County,” according to a news release. The center plans to reach out to the community a couple times a year to submit big ideas. It is welcoming ideas from residents, community and organizational leaders, businesses, employers, and public and private stakeholders.

“People’s social and living conditions directly impact their health,” Paula X. Rojas, a licensed midwife and community organizer who helps guide the Community Strategy Team at the Dell Medical School, said in a news release. “That makes those living in a community some of the truest experts in the best ways to enhance the health of their community.”

People can submit ideas directly online or on paper. The instructions are available on the center’s website. Applications for this round of consideration are due by Jan. 6th, 2017.

Want a shot at winning an investment and other prizes?

Early stage startups are encouraged to apply to pitch at the 2017 Startup Pitch Competition, organized by the Rice Alliance-Austin Chapter and Central Texas Angel Network, known as CTAN. The deadline to apply is Dec. 5th at midnight.

The pitch competition, sponsored by American Bank, will be held on January 25th at Alamo Drafthouse, 1120 S. Lamar Blvd. starting at 6 p.m.

A select panel of judges and investors will pick the winners at the event. The target companies for the competition are pre-Series A which have raised less than $1 million to date. Each startup selected to participate will give a five minute pitch to the panel of judges and a large theater audience.

The prizes include the opportunity to receive cash investments from CTAN members and others and in-kind prizes including legal services, marketing and human resources support and office space.

Finalists for the pitch competition will be announced shortly after the application deadline of Dec. 5th.

HOLT Ventures, the new investment arm of HOLT CAT, plans to select 15 startups to showcase their disruptive technology in the industrial space at the first Industrial Technology Pitch Competition at South by Southwest Interactive next year.

But the deadline is looming to participate.

Interested startups must apply by Dec. 16.

HOLT Ventures has teamed up with Caterpillar Ventures, Brick & Mortar Ventures and Cottonwood Technology Fund to host the Industrial Technology Pitch Competition. Startups have the potential to win cash prizes totaling $50,000.

HOLT Ventures is a new investment group. It plans to provide funding, mentorship and other guidance to startups tackling new ideas in the industrial and manufacturing industries.

“The Holt family’s great success in the commercial dealership arena over the past 40 years is partially due to the company’s values-based leadership platform,” Charlie Strickland, HOLT Ventures managing director, said in a news release. “As a capital partner and advisor, HOLT Ventures is furthering the Holt family’s legacy of fostering innovation by helping emerging companies and entrepreneurs in our industry.”

“As we enter a new phase in industrialization, HOLT Ventures will focus on solutions that drive efficiencies across our business and the services we provide. Companies that have a strong vision in developing efficient, innovative solutions, from process improvement to smart technologies, are what we are looking for,” Peter John Holt, HOLT CAT executive vice president and general manager, said in a news release. “There is an opportunity to connect influencers from all subsets of construction and infrastructure, and to cultivate innovative ideas specific to the industries we serve.”

Peter John Holt and Corinna Holt Richter, current leaders of HOLT CAT, will serve as members of the HOLT Ventures Advisory Committee. They also represent the fifth generation of the Holt family business, which traces their heritage to Benjamin D. Holt, 1880’s inventor of the first successful track-type tractor, widely known today as the “Caterpillar.”