Russ: This is The BusinessMakers show, heard here and online at thebusinessmakers.com. It's guest time on the show, and I am attending a cool event, the Gulf Coast Innovation Conference and Showcase, and my guest is the president and CEO of the Houston Technology Center, Walter Ulrich. Walter, welcome to The BusinessMakers show, once again.
Walter: Russ, it's great to be here, and thank you for joining us at the Gulf Coast Innovation Conference and Showcase.
Russ: Man, this year it has a buzz about it. It seems to me, and maybe it's just that strong coffee I drank this morning, but that attendance is up, the buzz is up. There's no indication of an economic downturn at all here.
Walter: We live, Russ, in a great community that really fosters innovation and it fosters entrepreneurship and commercialization. Yes, it's a record attendance by every measure. We had to shut down and stop taking registrations nine days before the event took place.
Russ: That is fantastic. Now, for listeners who might not know what the Gulf Coast Innovation Conference and Showcase is, tell them.
Walter: The conference and showcase is the largest collection of emerging technology companies from the Gulf Coast. We had 80 companies here today that are either presenting or exhibiting, or both, telling their stories, with unique technology, groundbreaking, breakthrough, disruptive kinds of companies in life science, in energy - both traditional energy and clean energy - IT and nanotechnology.
Russ: Okay, now we're at the Hyatt Regency, downtown Houston, a very large hotel, but man, if this thing keeps growing, you might have to move somewhere else next year.
Walter: Well, we're just gonna tell the Hyatt that they have to tear out three or four more walls, that's all.
Russ: Fantastic. Well, bring us up to date on what's going on at the Houston Technology Center.
Walter: Well, the Houston Technology Center has had a great summer. Our client companies have done extremely well. As a result of what's happened over the summer, we have six companies that are graduating today. We had three companies that Governor Perry came over to the HTC yesterday and awarded ETF funding, so we'll recognize the nine ETF companies at this event today. Very importantly, Vijay Goradia and his wife, Dr. Marie Goradia, will be presenting the initial Goradia Innovation Prize today. This is $100,000.00 in cash to be given, with a $50,000.00 grand innovation prize, and then several smaller prizes, to companies that are here today for them to use like a ________ grant to help commercialization, no strings attached.
Russ: Oh, my goodness. That's fantastic. That is so cool. Now, somebody who doesn't know about this cool accelerator, as you guys always call it, the Houston Technology Center, explain to them what it means when a company actually becomes part of the center and then graduates.
Walter: Companies that become clients of the Houston Technology Center, and remember, Russ, that our support primarily comes from our sponsors, not from the clients themselves, those companies that become clients of ours we work side by side with, helping them identify the gaps in their business plans, making key introductions for them, mentoring them throughout the entire commercialization process. Typically, a client will be with us for two to three years, though some longer. At the end of that, when they graduate, they're a going concern, they have money in the bank, and they're taking off. A key to that, of course, is helping to make introductions to both customers and investors. If you have just another moment, Russ, last year alone, in the lousy economy we had, HTC graduate companies and clients raised over $125 million in equity investments, state and federal grants, and positive financial transactions.
Russ: Goodness gracious. Well, you must be awfully proud of that.
Walter: Well, you know, I'm proud of the entrepreneurs. All of us at the HTC, we at least get a paycheck twice a month. It is the entrepreneurs who really are betting on the future that put in their sweat and their equity, their best innovation, and work sometimes enormous hours, stumbling and picking themselves up again and again and again. That's what we do this for, and I admire these 80 companies here today that are building our future.
Russ: Well, that's real cool, and we here at The BusinessMakers show love to give the entrepreneurs all the credit that they deserve, for sure. Before I let you go, though, and just once again demonstrating the great job you guys are doing, share with our audience the national publication acknowledgement that you guys got this year, as well.
Walter: Well, thanks so much to all the support we get in the community, and, Russ, the support that we get from you, the support that we get from John Beddow at the Houston Business Journal, and others, the Houston Technology Center was named by Forbes as one of ten technology incubators that are changing the world, the only one in the state of Texas, a worldwide listing. We were so proud that Houston has been recognized in that manner.
Russ: That is very cool. Walter, thank you for giving us some time, and thank you for doing what you do.
Walter: It's always a pleasure, Russ, and thanks for what you do.
Russ: You bet. That's Walter Ulrich, president and CEO at the Houston Technology Center, here at the Gulf Coast Innovation Conference and Showcase. You're listening to The BusinessMakers show, heard here and online at thebusinessmakers.com.
