CleanTech Open Thursday, July 14, 2011
DoubleTree Hotel, San Jose
http://www.cleantechopen.com
The CleanTech Open started with a warm welcome from Des King, president of Chevron Technology Ventures and quickly revved into high gear with Geoffrey Moore, venture partner at Mohr Davidow Ventures, on his viewpoint about the challenges and the opportunities in the cleantech space. Different than traditional tech sector companies, entrepreneurs need to sell not only the monetary ROI but benefits back to the environment and society. Yet, in order to succeed, the companies must succeed as a business, as healthy returns to investors will help continue the process of fueling innovation.
From identifying the market “pain”, to coming up with the solution, and the products to support that solution, the challenges are similar to most startups. Yet moving to a systems solution and maintaining that system is the big challenge. Disruptive technology as in many of the cleantech initiatives requires not only developing and perfecting a singular technology, but looking at the bigger infrastructure and working with the many players that surround that technology. In many instances this is both a private and public partnership endeavor that needs to be developed and nurtured to insure long term success.
With that, the CleanTech Open moved into its mock fundraising pitch platform with seven startups pitching their business ideas to a panel of angel and VC investors… plus an audience of about six hundred and fifty people! Some may say “brutal” (at times) but very constructive criticisms were doled out to the entrepreneurs, most were seasoned professionals with multiple startups under their belts. Technologies from solar innovations and water purification to energy from waste were presented very convincingly. Yet in the end, only one company was awarded the “most fundable” title. The pitch event was reconvened after lunch with another seven hopefuls and a new panel of judges.
The process was very insightful for any entrepreneur interested in funding their new venture. Basic takeaways in terms of the presentations were: “keep it simple, quickly identify the ‘pain and solution’, explain how it works and how it differs from competitive solutions, address the customers and how they would adopt and buy, then talk about the market potential and the financials– size of market, sales opportunity, return to investors.” And lastly, the people. “Who are we investing in?” And to do all of that in seven minutes!
Lunchtime gave us the opportunity to mingle as well as stroll through the exhibitor’s hall and meet close to ninety entrepreneurial semifinalists that have gone through the rigors of Cleantech’s business development programs. Innovations include: a better methodology for composting, battery-powered car/bike vehicle, 100% potable recycled water system, power management technology for apartments and commercial buildings, a carshare program based on social media, and a solar-powered iphone adaptor. Now how cool is that?
The last hours of the event had industry executives talking about marketing and promotional challenges and opportunities including engaging all parties up and down the supply chain, becoming a thought leader in your space and how to integrate social media into the mix for business-to-business companies.
The final keynote speaker was Rami Branitzky, Sr. VP of SAP Labs in Silicon Valley who brought everything together with his discussion of how each and everyone of us has a part in changing our world in a positive direction. As a Prius owner, he is quite aware of his own personal footprint and has committed his company to focus on long term sustainability and reducing the impact it has on the environment. “Social Good and Brand Value are intertwined”, said Branitzky. As the largest supplier of business software SAP plans to be around for a long time, and as a company they are committed to the long term sustainability of our society, communities and environment.
Next up, the 2011 Global Forum, November 10th & 11th, 2011. Save the date.
How do we engage the vast majority of the population in this conversation? This story needs to be told at all levels of the educational system. This is not one semester of science or world history, this is about changes in the way we live, work and play. Government needs to back major initiatives for change. The U.S. Chamber of Commerce needs to support climate legislation in Congress. The media needs to give access to NGOs and other organizations involved in the environment, climate change and education to help communicate the challenges in very simple, easy to understand terms. The investment community needs to step up and back more clean tech and alternative energy projects. Big business needs to realize that making a profit while damaging the environment is bad business, and not sustainable.
How about the entertainment industries where we worship the excesses of our society? The millionaire celebrities with multiple gas-guzzlers, extravagant mansions and lifestyles that promote waste and careless neglect for our environment? There is an opportunity here to reach the masses by telling the story in entertaining but meaningful ways.
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