Friends of ClimateHaven –
Like any good startup, ClimateHaven is a work in progress. We started out earlier this year with the simple intention of building a vibrant community comprised of climate tech entrepreneurs and the passionate people that support them. Rooted in New Haven, CT, we aspire to work with folks around the world, with a particular focus in building a strong network in the New York / New England region.
We’ve started building a team, a roster of startups, a network of incubator partners, accelerator programming (stay tuned for an announcement soon), and a passionate community of folks like you!
The furniture isn’t even here yet. But the stage is built and the lights are on, which feels like the perfect time to get together! Who needs furniture for a party anyway?
On August 24, we invite you to Green Drinks: the return of a New Haven tradition and the start of ClimateHaven’s quarterly networking series. Join us at ClimateHaven for an evening of beer, wine, and great conversation with old and new climate friends. A big thanks to our friends at FORGE for collaborating on this event.
And while we’re thinking about events: mark your calendar for the Yale Clean Energy Conference on November 9 and 10. We’re excited to serve as host for the first day of the event. Much more to come regarding this event next month.
Raising capital is an exhausting process. A founder of an early-stage company – especially an early-stage climate tech company, is much more likely to hear “no” than “yes” from investors.
In between no and yes is maybe. And “maybe” is many times what founders hear from investors during the capital raising process, followed by one simple question:
Can I see your data room?
The simplicity of the question should not overshadow the importance of the answer, which should be a resounding and straightforward “Yes!”. And after that yes should come a link to an organized, thoughtful, and well-structured data room, or as I like to call it: the Goldilocks Data Room.
The Goldilocks Data Room can expedite the diligence process, reduce closing costs, and increase the odds of closing new capital. Check out the latest blog post in our Summer School Series to learn more!
In our last newsletter, we talked about how the right partners can make all the difference in the world to a climate tech startup, especially one that is taking a novel technology into a heavily regulated market with entrenched incumbents. We even highlighted Forge as a wonderful example.
We also asked our community to highlight the types of partners that are valuable to a scaling climate tech company. We know capital is something most all climate tech startups need. But what else? Well, based on some great feedback from our community, we’re compiling a thorough list:
Not an exhaustive list by any means, but what an amazing start. Call it the Clean 15, until we think of a sixteenth type of partner. Is there something we missed or a type of partner we can add to this list? Reach out and let me know!
In the meantime, our goal will be to identify an expert partner in each one of these categories in order to create a valuable community for our startups!
On that list above, you’ll find Prototyping Tools, Equipment & Support listed as No. 10. This type of partner may very well be No. 1 for climate tech startups building hardware solutions. Often the physical prototype, however rudimentary it may be, is the prerequisite for getting the first capital in the door.
At ClimateHaven, we’re very lucky to have MakeHaven filling this critical need. Located directly below us, MakeHaven is an amazing makerspace and fabrication lab with a variety of tools and equipment that are critical to prototyping development. From 3-D printers to laser cutters and CNC machines, MakeHaven has a density of equipment and a talented team that can help launch any entrepreneur’s journey.
Side Note No. 1: ClimateHaven startups get a free membership to MakeHaven. Boom!
Side Note No. 2: Spaces like MakeHaven are invaluable because it means entrepreneurs are not spending investors’ capital buying expensive equipment. Rather, precious capital can be spent on hiring team members who can then leverage ClimateHaven and MakeHaven to build prototypes and advance their technology.
In case it isn’t obvious, we’re doing a lot of building at ClimateHaven these days!
To those Startups who haven’t applied, our membership application portal is open. We are reviewing applications now in anticipation of welcoming our first startups into the incubator this fall. At this rate, we’ll be welcoming an initial cohort of 10+ companies! Keep in mind, the door to ClimateHaven membership is always open. Applications are reviewed on a rolling basis and additions to the incubator will be ongoing. Reach out to Kiko Wong, our startup portfolio manager, to learn more.
We’re searching for Resource Partners in each of the categories listed above. Know a partner who could be a great fit (or if you are that partner)? Then reach out to us!
Keep an eye on the ClimateHaven Careers Page for new job postings. We’re aiming for 700% headcount growth in 2023. Of course, that’s easy when you start with 1 team member.
An interesting thing I’ve witnessed about community building in the climate tech space: the people are out there, you simply need to give them an open, vibrant place to get together.
For those baseball movie fans (and/or Kevin Costner fans) out there, that feels like a Field of Dreams style “if you build it, they will come” statement.
And it may not be true in every part of the country. But I can affirmatively say that within the corridor from Boston to New York, you’ll find the human capital, financial capital, state and local policy, and will power to lead the decarbonization of our economy. And right in the middle of that corridor is New Haven, CT.
Let’s get together on August 24.
Until next time,
Ryan
P.S. Follow ClimateHaven on LinkedIn, Twitter, and Instagram to keep up on our progress between newsletters.
