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In the News

FountainBlue is pleased to actively participate in the Silicon Valley community and beyond. The following is a list of the organizations which have written about FountainBlue events or invited our CEO Linda Holroyd to speak.

Articles about our Clean Energy Series

Inside the Silicon Valley cleantech investor brain


 

Published on Inside Greentech (http://www.insidegreentech.com/node/1143)
By Dallas Kachan
Created 2007-05-09 17:20


Entrepreneurs looking for money, self-proclaimed IT refugees looking for work, and even the odd recruiter and creative agency turned out yesterday in abundance to hear Silicon Valley investors talk about what's hot and what's not in cleantech.

Investor panelists speaking at a lunch event at a large law firm began by addressing their favorite sectors for investment.

While most investors' worldwide sector du jour is solar, there was no consensus on the panel as to whether solar was still hot or not as a category.

Citing her firm's experience backing Tesla Motors, Laurie Yoler of GrowthPoint Technology Partners said she sees a lot of promising advanced battery plans, and called energy storage a huge opportunity because most battery cells are made in China and Japan.

"Being in California, we just naturally see a lot of solar business plans, since we have such a great source of the commodity for that."

By contrast, Carol Sands of the Angels' Forum, an affiliation of individual angel investors that also represents an associated "Halo Fund" of others' money, said she's currently staying away from solar companies.

"I'm so tired of solar! Some of that is where I stand in the economic food chain. I'm down at the bottom. The minute I see the major firms doing solar deals, I'm too late. I'm trying to be 12-18 months ahead of the venture community in terms of economic cycles."

Other panelists, including JP Morgan managing director Mike Dorsey, opined that the rising tide of worldwide solar demand would easily float many, many boats, even those whose technologies were perhaps only incrementally better.

Investors on the panel identified criteria they use when selecting deals to invest in.

Panelist were uniformly shying away from large initiatives requiring capital buildouts in the hundred million dollar or more range. They expressed no interest in project financing. Nor did many express interest in funding companies' research.

"If you're still in the conceptual stage, where you're still not sure if you can 'make this work,' there are grant programs available in cleantech. The former California Commissioner of Energy Joe Desmond and I were having dinner last week, and one of his major disappointments was that they didn't give out their full grant allocation the last two years. Not enough companies came forward to ask for the money," said the Angels' Forum's Sands.

Justin Label of Bessemer Venture Partners said his investment criteria specified deals with a low capital-intensive business plan, a low science risk, a proven business model and a team he could believe in.
Most speakers prioritized the importance of the right leadership in companies they invest in, especially given that a company's technology focus was subject to evolve over time.
"I don't have the luxury of falling in love with technology. I can only fall in love with management teams," said Sands.

By contrast, Bessemer's Label made it clear he focused on companies with genuinely game-changing technology.

"Teams are critical and what make the whole venture work. But I personally like to invest in companies where there is something you can hang your hat on over time, a real technical or business model innovation at the kernel," he said.

"What I'd like to see less of are Series As that come in already figuring out what the price and the terms of the Series Bs and Series Cs are going to be. A bit of a land rush mentality has developed, and I think that's really dangerous for all of us."

Local wags make much ado about Silicon Valley as the seat of American innovation and its emerging role as a nexus of the cleantech industry. But local investors on the panel encouraged the audience to think beyond Santa Clara County, far beyond.

Sands said she learned an important lesson in moving a portfolio company called Light Engineering—developing small, high powered electric motors—to Indianapolis, because of a lack of qualified engineers in the valley.

"In Indianapolis, you can stand on any street corner or any Starbucks and ask 'does anyone know anything about electric motors,' and someone will hold their hand up. Moving them to Indianapolis was by far one of the smartest things we did. As much as we believe Silicon Valley is the home of innovation, we don't have an exclusive."

Panelists also made a number of clear admissions that their involvement in cleantech wasn't at all about greening the planet.

"Saving the world is not a substitute for being financially successful," said JP Morgan's Dorsey, to an audience that batted few eyes at the comment.

"It's, quite frankly, not about you in any way, shape or form. It's all about us," said Sands.

"If you can't figure out a way for us as investors to make money, you could have a great concept, but we're not going to be your funding source. You need to come up with a methodology that makes us rich. And frankly, this panel, we're a little on the greedy side. We want to be really rich!"

The event was organized by Linda Holroyd of FountainBlue, a local events, coaching and consulting company.

Cleantech: Words of Wisdom

Posted by Jonas Ketterle on Wed, 09 May 2007 21:47 PST http://rooseveltinstitution.org/blog/post/141/cleantech_words_of_wisdom


This week, I went to an off campus "Clean Energy Entrepreneurs' Forum" hosted by FountainBlue to understand the financial side of clean tech investments. I go to many panels, talks, and presentations, and at most I gleam an interesting perspective, idea, or number. But every now and then, I go to an event where I can't contain my excitement because I'm learning so much. This was one of them, and here are two discussions I'd like to share with you.

The panel started with the oft-asked question of whether or not the rapidly increasing investments in green tech are just a bubble. Good news: the panelists gave a definitive no. Here are some of their best reasons.

1) We simply can't afford to ignore environmental issues in business models, because global warming is already a critical issue.
2) Clean tech is an economic win – this is why there is investment in this sector in the first place.
3) People from a wide variety of backgrounds are involved in clean tech, not just techies and granola eating cold showers in the dark hippies.
4) Clean tech is not just venture capital funded, but also receives investment from the government and major corporations.
5) Consumers will often pay a green premium, sweetening the business case.
6) Green is patriotic: see Thomas Friedman's "Green is the new Red, White, and Blue."

Hopefully you agree with me that those are compelling reasons that clean tech investment is here to stay. That make me wonder: what do you need to know to start a successful clean tech company? Again, more sound advice from the veterans.

1) Use a tried and proven business model – minimize risk for your investors wherever and whenever possible. Be realistic.
2) If you don't have an excellent understanding of the market and competition facing your company, you won't get funded, because your investors want to make money and not lose it. Make sure you have a good answer for this one.
3) For all you techies out there: a company's success rests on much more than an innovative technology. Innovate everywhere: sales, marketing, public policy and pleasing your customer.
4) Government and private grants are a great funding source for new technologies still in the research phase (in some cases, there are more grants than applicants!). Know that venture capital and angel funding want to make $$, so they won't fund research.
5) Location is key. You may find better talent (engineers, etc.) by moving a company to a different location. You may also find a better market internationally, especially if your technology is particularly disruptive and a threat to established industries.
6) Investors want to have minimal technology risk. In particular, you must be able to demonstrate a proof of concept without large capital expenditures.
7) Make sure you have a strong team. The team makes a strong impression on investors, and persistent and entrepreneurial minds will make your company successful.

And a final word of advice? Companies that innovate on something the consumer will always need are more likely to succeed. For example, think about reducing waste – you can start by not buying bottled water and reading Cradle to Cradle.
 

Articles about Entrepreneurship

FountainBlue is pleased to speak on entrepreneurship and intrapreneurship to companies and associations across the valley. See our Something from Nothing: A Message to the 'Preneur in You  for more information about our speaking topics.

We are also pleased to write articles about entrepreneurship and speak on the topic. Below is a summary of the articles we've written and the conversations we had on the topic of entrepreneurship.

PWC StartUp radio show
with Steve Bengston, featuring Linda Holroyd
March 15, 2007
 
http://wsradio.com/internet-talk-radio.cfm/shows/PricewaterhouseCoopers-Start-Up-Show.html

 

INTRO: Our next guest, Linda Holroyd, is founder and CEO of FountainBlue, a for-profit that promotes entrepreneurship. She is also writing a book on entrepreneurship called "Something from Nothing: A Primer for the Entrepreneur in You. Linda.

 

· Tell me what you mean by 'Something from Nothing'?

 

I define an entrepreneur as someone who has a new way of doing something that may defy current convention, coupled with the passion and the persistence necessary to generate results. The 'Something from Nothing' concept is a celebration of the spirit of entrepreneurship, the innovation, creativity and out-of-the box thinking that fuels the economic engine for a person, a company, a nation.

 

The 'Something from Nothing' concept is not just about entrepreneurs with the novel idea that launch companies. It is also about the corporate executives at all levels who think outside the box and integrate new ideas to broaden products and markets, leveraging the strengths of established corporations, from existing customer base, to infrastructure, to operational and process support, to distribution channels.

 

· How does the 'something from nothing' concept fit with your current organization FountainBlue?

 

'Something from Nothing' also stands for combining the stable, solid resources of organizations and investors (represented by the 'Fountain' in the name) with vibrant, creative, innovative energies and ideas (represented by the 'blue' in the name). FountainBlue's business is to connect people with good ideas with people who have the finances, resources, and skills to help them succeed. Making the introductions and connections will help entrepreneurs to navigate what people have called the 'valley of death', the challenges that prevent most start-ups from succeeding. These hurdles might be legal problems or business plan creation problems, or management team challenges and product development challenges.

 

FountainBlue produces six events a month to convene the region's leaders in the high-tech, life science and clean energy industries. In addition, we refer entrepreneurs to the service providers who assist in navigating the 'valley of death', to prepare them for introductions to the investors, and we consult with larger, established companies on integrating new ideas and concepts into existing product and service offerings. And from the people side, we develop a leadership pipeline focusing on mentorship programs, and work with our clients to foster a culture embracing entrepreneurship and innovation.

 

· What is your advice for helping entrepreneurs generate momentum with little resources?

 

We launched FountainBlue in January 2006, and are pleased with the momentum generated, the communities established, the quality of our programs, the caliber of our partners, and the success of our customers. We started with a big idea: to positively impact the way organizations work, one conversation, one leader, one organization at a time. Here is some advice for how you can leverage our lessons to create something from nothing:

 

· Start with the Heart – Know what you're passionate about.

· Integrate the Head – Understand what you know about your own strengths and weaknesses and intersect that with your passion and the needs of the market.

· Develop a Plan Before Acting – (the Hands Phase) Create a plan on how to get from where you are to where you want to be, and just as importantly, what people and organizations can help you get there.

· Find a Win-Win Solution – work with people you can trust and find a collaborative path to success for both of you.

· Measure your results – Focus on milestones and quantifiable results.

 

· What is your advice for executives to integrate innovative ideas in a corporate setting?

 

· Integrate the same heart/head/hand concept – follow your passion, intersect it with the needs of the market and your skill set, and plan and act in alignment with both your passion and the organization's needs.

· Think and act outside the box; follow the HP way of informed dissent, and welcome others in your organization to do so, while focusing on business results. This is the best way to leverage the creativity and diversity around us, the kind of innovative thinking which brings business results.

· Build relationships that are more bigger and important than goals

· Persevere despite adversity

· Welcome process, but know its place
 
Message to the FountainBlue Community About LinkedIn Usage
February 23, 2007

I received an invitation from someone this week, inviting me to join his LinkedIn network, with the enticement that he has 3,300 links in his network, and I should also join him. I have no idea who he is, but it does lead me to reflect on how to use LinkedIn as a tool. So I'll share my thoughts, and invite you to share yours too.


Have a strategy for your LinkedIn network

  • Decide why you want a LinkedIn network (for business development? to stay in touch? to help others in your network) and also what type of network you should have - a large network with people you know lightly, a tight network with only people you know well or somewhere in between.
I do have a LinkedIn network, but most of my contacts are not in the network, so I have a relatively tight circle on LinkedIn. I don't accept invitations from people I just said hello to for example, but after meeting one-on-one over coffee and feeling that connection, I am likely to accept an invitation.

Be consistent about implementing that strategy

  • Once you decide on a strategy, be consistent with that strategy making few exceptions. When you start making exceptions, it's much easier to second-guess yourself.

Be respectful of the people in your LinkedIn community

  • Don't over-contact people in your network, or request too many contacts from the people in your network, or introduce people to others that you don't necessarily know well. Respect their time by being strategic about your requests for support and your requests for connections for others.

Stay in touch, but with light touches

  • Stay in touch, but not in an invasive way. I've found that busy people don't have the time for small talk over e-mail or over the phone, but might appreciate information or connections or suggestions if it's relevant for them, and will definitely appreciate a lead or connection once in a while.

Grow your network, but do it strategically

  • It's important to grow your network with the kind of people you respect and trust. I must admit that I'm not proactive enough about growing my network. In other words, I rarely make the time to invite others to my network, but I'll work on it!

Bottom Line about your LinkedIn network

  • Use it as a great tool for growing your network, but don't abuse the tool or the network.

Articles for Executives

Comments submitted for ExecuNet's CareerSmart Advisor, April 2007, on the Topic of Graceful Executive Exits.
 
Is it always necessary to submit a resignation letter? If so, what should the contents of the letter include? What shouldn't be included in a resignation letter?  
Generally submitting a resignation letter is a standard for any professional. The letter should include:
  • a general thank you for the opportunity to serve in the roles that you served
  • a specific thank you to the person you served under (no matter how you feel about the person when crafting the letter, find something to thank him or her for)
  • the time period served
  • Regrets for external circumstances that may have contributed to your leaving
  • understated optimism at the opportunities ahead for you (even if you don't see one in sight . . . yet)
  • An interest in continuing the relationship following your departure, but only if you're sincere. If you'd rather not continue the relationship, a second thank you and close is fine.
  • Do not: get spiteful, say anything negative about a past event, say anything about how unfair it is and how ill-treated you were. There are other times and ways to say those things. They do not belong in a resignation letter.
Does the exiting executive help with succession? What can he do to improve this process? Should he not be involved?  
Every firm differs, so when in doubt, choose the path of professionalism. Go the extra mile to inquire about the needs for those you leave behind. Leave the new person better prepared and positioned to succeed by sharing methods, processes, relationship tips, etc., These small acts will be much appreciated, and leave a good final impression on others and help build bridges with new people who may be helpful to you personally or professionally.
How can an executive break the news that he's leaving to his team? (especially if he's a well-liked boss).  
This is always difficult, but there are some tips:
  • Have a track record of clear and transparent communications. This will make breaking any news to them much easier.
  • Do what you can to ensure the team is in good hands.
  • Think and act strategically. Create a plan for how you will communicate to each of the groups of people you work with - your peers, your staff, your partners, and other stakeholders.
  • Communicate your message (why are you leaving, what's happening to the company, the customers, other managers, their peers etc.,) to each group, being prepared to address their questions, their reactions and feelings.
  • Proactively manage the communications. People are in various levels of connections to you, of knowledge/information about your job situation. As you communicate to each group, ask people to respect the fact that you would like to tell people directly so that you can best address their questions and concerns.
  • Maintain communication ties. Welcome people to remain in touch, don't make people feel abandoned.
  • Be positive, optimistic while being realistic.
How does the executive help the team face a change in leadership?  
 The same principles apply:
  • Clear and transparent communications.
  • Do what you can to ensure the team is in good hands.
  • Think and act strategically.
  • Communicate your message.
  • Proactively manage the communications.
  • Maintain communication ties.
  • Be positive, optimistic while being realistic.
Should an executive try to take the best team members with him to his new company? Is there a time period that an executive should wait before doing this? What about non-compete clauses? What if the executive once signed an agreement not to recruit others?  
An executive should have loyalty to his employer during employment, and even afterwards. The catch is that there will be more than one employer! Although it would be better not to mention employment opportunities at your new firm while still employed with your current employer, it is generally accepted to respond to specific inquiries initiated by others, particularly after a 30 day time period, assuming that the non-compete clauses do not apply.
What should an executive do if his current company makes a counteroffer?  
Remember who you are leaving. Will the counteroffer address all those concerns? Does it have the same long-term and short-term potential of your current opportunity? Also take the opportunity to recognize why you are getting the counteroffer. What skillsets do you have that they want? What are the implications of your leaving for your company, your team, your division? If you do decide to stay, you would be in a more solid negotiating position.
How should an executive conduct himself during an exit interview? If the environment or boss was unsatisfactory, should he say so?  
Provide constructive, proactive and specific feedback while remaining tactful and professional. 
Why is it so important to leave on a good note? Is it true that you should never burn bridges?  
Leaving on a positive note helps you maintain the relationships you built, build new relationships, and help people reframe any negative experiences they might have had with you. 
An executive might have good intentions, but what if his company doesn't let him exit gracefully? What if he is escorted out by security and can't say goodbye to his team or finish incomplete projects? Is there another way in which to follow up with individuals and projects?
 
In this difficult scenario, it is perfectly appropriate to craft an e-mail to one person and trust that person to communicate your farewells and good wishes, any critical work-related items, as well as your new contact information.
How can an executive best handle a departure if his next stop is working for a competitor?  
 The main difference in this situation is that you would be working with a competitor, so the main extra filter you would have in doing your job is 'Am I making an ethical decision for both my current and past employer?'
What materials should an executive have when he leaves? (i.e. performance reviews; letters of recommendation; documents that will help land future jobs)
Reviews, recommendations, relationships. 
Join our community for Silicon Valley Executives,.
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Join our community for Silicon Valley Entrepreneurs.
Join our community for Silicon Valley Investors.
Join our LinkedIn Community for all FountainBlue members.
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For more information, contact us at info@FountainBlue.biz.