Convened by Ian Fisk

Attendees include:
Scott Friedman
Dorigen Hofmann
Tim Mason
Kirk Hourdajian
Dave Witzel
Leah Fotis
Kevin Moss
Sean Brady
Michael Mossoba
Andrea M...

Williams James Foundation runs a business plan competition. Reward is advice, critique from 200 odd judges who come from different sectors. top 5-10% are of interest to investors who don't want to read all 300.

What works:

• DOE grant application. But they require 50% match in equity or debt.
• from an investor: knowing what your investment framework figured out makes it easier for us to do our due diligence.
• like preferred stock. don't want to have custody of client's investments so use a bank. easier it is to get it into the bank, the better it is for me. Investor must "know the risk".

Problems:

• chicken or egg - developing electric chargers for cars that aren't on the road.
• investor: concerns about meeting needs of regulator oversight.
  
• well intentioned sustainable business still need to meet financial investment requirements.

How to get 1st investment

• win prizes
• you aren't "unique" unless you've got patent pending
• state, fed, money
• have another business so you can wait for funding have "patient capital"
• know why the business is important to you. have fire in the belly

What defines a sustainable entrepreneur? Does it only mean "green"?

• does this product, company "benefit society" "bring back to the community"
• is a test "if everyone did this thing we could still survive?" vs. "is it less bad than we have now?"
• benchmarks or major targets. e.g., Start with 2007 firm-wide level and find ways to improve upon it. (less bad)
• true test is level of reduction that gets to climate stabilization. do we miss the big picture if we only focus on less bad

One reason companies are not environmentally friendly is that they've never thought about it with that lens. Then focus on which environmental category - carbon, waste, water, etc. Often company itself can correct by itself if it pays attention, ask the right question.
Internal vs. external driven change/entrepreneurship.

Ashoka elects Fellows who demonstrate success/change at the pilot or launch stage. How to connect their innovations to large scale corps/populations looking to change?

What about when you move past "low hanging fruit" - when environmental improvement and financial benefit are aligned. What about changes that don't have financial benefit? And what is the time horizon for ROI?

Will there always be low hanging fruit driven by technology change?


Consumer willingness to pay more for environmental impact. 20% will pay more. 40% cost reduction will encourage consumers to buy an environmental bad product.

Importance of brand as an indicator of reliable, green product. e.g., Whole Foods and Amicus Hardware supply trust in their products.