One Region/Two Realities
It sounds like a juxtaposed Chinese proverb put out by the Communist Party, but interacting with startups in the cleantech sector over the last week left me feeling like the Columbia isn’t just a river separating the two most populous Pacific Northwest states, but a different reality.
That’s not to say I was disappointed in what I saw. I went to the Element 8 Angels Winter Showcase and TIE Oregon’s Pitch Oregon event because I needed a little visionary pick me up after a month of fatalistic news on climate change–and it was an effective tonic. Any time I get to interact with passionate entrepreneurs who want to make the world a better place I’m able to temporarily escape the existential dread that comes with paying attention to the news these days.
The altruistic and purpose-driven energy radiating from all of the attendees, whether they’re investors, service providers or people looking to join the organization(s), they are the social equivalent of a chocolate covered cream puff; it’s thoroughly enjoyable from start to finish, and you know if you hang out near the dessert table long enough, new ones will arrive.
I know how to tell a compelling story, but investing is another issue. Fortunately, I’ve received an education through osmosis around the Element 8 angel investors. Today, I have a much better idea which companies might still have a story to tell 24-36 months down the road. And some of the companies they’ve chosen to support in 2018 are very compelling indeed.
I’ve mentioned Beta Hatch in a previous article, but it’s still hard to deny someone needs to create an additional source of protein for livestock. Why not Virginia Emery and her team? Same goes for Vartega, a carbon recycling company I’ve written about before, but their proposition remains relevant because we have to find a way to divert the tons of carbon fiber used in manufacturing from ending up in the landfill.
Early stage investors often invest in teams more than ideas, and if that’s true, Impact Bioenergy’s high powered players will be pioneering portable bioenergy systems to restaurants, grocery stores and large companies who want to lower their carbon footprint by turning their food waste into organic fertilizer for years to come.
And while there is no shortage of accelerators and incubators popping up all over the landscape, a disproportionate share devoted to software. That’s why I hope Fledge succeeds. They call themselves the “conscious company accelerator” helping impactful entrepreneurs take their ideas into reality with an intensive 10-week program and start-up cash in exchange for a small amount of equity.
Interestingly, I heard a desire from some Puget Sound-based investors to see more companies in the cleantech consumer products space, which ironically was what I saw in Portland.
I’m not sure if this trend towards consumer products is due to a Sisyphusian weariness on behalf of impact investors who have been looking for bold and profitable ideas to save the planet while the news rains on them like Seattle in December, or if it’s a trend borne of less appetite for investment risk in an increasingly uncertain economy. But if I was ever tempted to go to the annual Consumer Electronics Show in Las Vegas in January, I suspect I’d see more cleantech products than in the past.
Even though TIE Oregon’s focus is much broader than cleantech, everyone in the Pacific Northwest is an environmentalist who believes in sustainability, which is one reason why The Goodwell Company walked away from Pitch Oregon with a share of the first-place prize. Following the trend to eliminate single-use plastics like straws and bags from our lives, company founders Patrick Triato and David Becker are using their design skills to create a sustainable alternative to the billions of plastic toothbrushes disposed of every year with bamboo and biodegradable options.
Finally, the tip of your taste buds will give four stars to Cocacao, the world’s most sustainable vegan and gluten-free chocolate. After the first sample, I wanted to go full-on Cookie Monster, but fortunately, a couple of squares satisfied my sweet tooth. For those of you caught up in the pumpkin spicing of America, you’ll be happy to know there’s even a Cocacao for you.
As I look back on the last week, I feel the anticipation and excitement in the entrepreneurs and investors betting their money and their careers on solutions to save us from catastrophe. It reminds me of the monologue voiced over by Morgan Freeman (aka, God) at the end of The Shawshank Redemption as he makes his way to Mexico after spending his entire adult life in prison.
I find I’m so excited I can barely sit still or hold a thought in my head. I think it’s the excitement only a free man can feel, a free man at the start of a long journey whose conclusion is uncertain…I hope.
Thank you for giving me hope. Now it’s time to turn off the news and get back to work.