The 5 magic ingredients for a successful cleantech start-up
July 21, 2021, Monaco Tribune
Andy Jack is quoted in Monaco Tribune regarding the important steps environmentally conscious tech start-ups should take to achieve success.
Andy stresses the importance of a balanced team, saying, “Emerging companies generally benefit from boards that bring to the table diverse expertise, industry and commercialization experience, technology savvy, seasoned judgment and over-the-horizon foresight.” Once the company grows, the question of stakeholder distribution must also be considered. “Boards comprised of members that balance interests of key stakeholders with a shared commitment to the company’s strategy and stated goals, rather than boards that are dominated by a single stakeholder’s objective, will tend to guide in the best interests of the company,” he adds.
When asked what makes a company successful, Andy speaks of a wow-factor. “The companies that are the most successful tend to be led by inspiring and determined leaders who present innovative, elegant and scalable solutions to widespread problems by either disrupting existing well-developed markets or by creating and setting explosive demand trajectories for wholly new markets. You know these companies when you see them and immediately exclaim “aha” or “wow.”
Speaking about funding, he says, “Funding is the most critical success factor because it enables all else. To borrow from Tom Wolfe in The Right Stuff, ‘No bucks … no Buck Rogers.’”
Discussing the need for legal knowledge, he says, “Deficiencies in these areas can vex fundraising efforts.” While investors can step in to provide financial support, he describes legal matters as “a chronic challenge” for companies, especially emerging ones.
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