The Secret Formula for a Great Cleantech Team
Winning cleantech start-up teams are complete at founding, have strong pre-existing relationships, and include the inventor of the core technology.
A year ago I published a post called “What It Takes to Build A Cleantech Winner” based on an analysis of 18 cleantech success stories – venture-backed start-ups that executed big IPOs. The conclusion was that it’s not the technology (the best one rarely wins) and it’s not the market (if the market’s already big and attractive, you’re probably too late); instead, it’s the team that determines success.
That begs the question: What makes a great team?
Taking up the challenge was Josh Rogers – then a student at Tufts’ Fletcher School of Law and Diplomacy – who interned with me and conducted this research for his master’s thesis. Josh went about it like this:
First, he established a set of 27 winners – VC-backed cleantech start-ups that had either gone public on a major exchange since 2000 or filed an outstanding S-1 at the time of the analysis, and for which we could build fine-grained histories of the executive team. Examples: Tesla, Color Kinetics, Silver Spring.
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