HOUSTON and PALO ALTO, July 22, 2019 - Baker Botts L.L.P., a leading international technology and energy law firm, has leveraged its startup and venture capital experience in Silicon Valley to partner with three of the most innovative technology accelerators in Texas by forming strategic partnerships with The Cannon Houston, Station Houston and Capital Factory.
The strategic partnerships will strengthen Baker Botts’ representation of emerging companies and investors throughout Texas, as Houston, Austin and Dallas become growing hubs for startup innovation and accompanying investment.
“These three strategic partnerships provide an exciting opportunity to showcase the depth and breadth of our technology sector experience in the startup, venture capital and entrepreneur community,” said Baker Botts Managing Partner John Martin. “We have a history of working with emerging and technology companies throughout their full life cycle, and we expect these partnerships will expand those opportunities more broadly. Some of our firm’s largest clients are businesses with which we have worked since they were startups themselves.”
A related project to transform Houston’s former Midtown Sears building into an innovation hub broke ground on July 19. The hub, called The Ion, is slated for completion in late 2020, after which Station Houston will oversee public programming, including entrepreneurial workshops, thought-leadership conferences, industry lectures a range of other opportunities. The 16-acre district will include commercial development, housing, public spaces and infrastructure. A number of prominent higher education institutions will also participate.
The accelerators will work closely with Baker Botts’ Emerging Company and Venture Capital (ECVC) practice, headed by Brian Lee, Partner-in-Charge of the firm’s Palo Alto office. The practice counsels entrepreneurs, early-stage and emerging growth companies, as well as investors, venture capitalists and underwriters, in a variety of industries.
“In forming these partnerships, Baker Botts will be working with a range of innovative, Texas-based companies from the ground up,” said Samantha Crispin, Baker Botts’ Technology Sector Chair. “One of the most intriguing aspects of these partnerships is the expected cross-pollination of our Texas and California ECVC practices and that the most promising companies will gain exposure to potential investors, including those in Silicon Valley.”
“It is exciting to see Baker Botts expand its involvement with the Houston startup ecosystem,” said Brad Burke, Managing Director of the Rice Alliance for Technology and Entrepreneurship. “The firm has a long history of supporting entrepreneurs in the region and has been a partner and supporter of the Rice Alliance and the Rice Business Plan Competition since 2002. The firm’s expertise and connections will be of great value to startups in the Houston region. With the launch of the Ion in midtown, the launch of new accelerators, and the support of firms like Baker Botts, Houston is poised to transform its entrepreneurial landscape.”
More information on the three startup accelerators can be found below.
The Cannon Houston
The Cannon is “Houston's Campus for Entrepreneurs.” It is currently building out a 17-acre coworking ecosystem that includes 135,000 square feet of collaborative workspace, an in-house venture capital fund focused on local investment, and a seed-funding accelerator program for startups, as well as a collection of mentors, discounted service providers, angel investors, and other entrepreneurial groups and organizations.
Station Houston aims to transform Houston into a world-leading hub for technology innovation and entrepreneurship. It is a vibrant community where people live, work and play, with Station serving as the connective tissue fostering a culture of innovation. Launched in 2016, its membership now includes more than 180 startups, 350 members, 130 mentors, and dozens of high-impact strategic partnerships with corporations that represent the key industries driving Houston’s economy.
Capital Factory is the center of gravity for entrepreneurs in Texas, the number one startup state in the U.S. Last year more than 200,000 entrepreneurs, programmers and designers gathered day and night, in-person and online for meetups, classes and coworking. With boots on the ground in Austin, Dallas and Houston, Capital Factory meets the best entrepreneurs in Texas and introduces them to their first investors, employees, mentors and customers. According to Pitchbook, Capital Factory has been the most active investor in Texas since 2013.
Baker Botts’ ECVC Practice
Baker Botts advises technology and other emerging growth companies from formation through rounds of venture capital or other private equity financing, initial public offering, sale or merger and beyond. In addition to handling corporate and transactional matters, Baker Botts’ ECVC lawyers work closely with their colleagues from the Intellectual Property and other departments to deliver creative and specialized solutions for their clients’ needs.
Baker Botts’ lawyers also represent a number of venture capital and other private equity funds, not only in raising their funds and making their portfolio investments, but also in the management and disposition of those investments. In addition, the firm has significant experience representing enterprises in joint ventures and other strategic alliances.
ABOUT BAKER BOTTS L.L.P.
Baker Botts is an international law firm of approximately 725 lawyers practicing throughout a network of 13 offices around the globe. Based on our experience and knowledge of our clients' industries, we are recognized as a leading firm in the energy and technology sectors. Since 1840, we have provided creative and effective legal solutions for our clients while demonstrating an unrelenting commitment to excellence. For more information, please visit bakerbotts.com.