What does it take to prove an idea works and how do you smartly navigate funding it? Let's dive in. 🤓 Turns out climate tech is different than investing in B2B software. Solutions often require infrastructure and hardware, which makes efficient use of capital and time to revenue even more important. Entrepreneurs need to prove a concept works on a small scale before asking for big investments—the quicker and cheaper they can do this, the better. Mike Schroepfer's philosophy: focus the pitch on cost and performance. Offering a solution that is cheaper or better is fundamental to getting a product adopted in the real world. Climate benefits are the added bonus. Take Tesla, for example. They didn't start by building massive factories or touting only environmental benefits that cost more. Tesla first created a high-performance electric sports car that people wanted to drive because it was cool. They proved the tech, built the infrastructure, and developed more affordable models. Balancing the challenge of creating a better product and delivering climate impact isn’t simple, but it is possible especially as more enabling technologies become cheaper and cheaper. Curious to learn more about the efficient use of capital and the best strategies for pitching climate tech? Check out Mike's full conversation on the 20VC podcast with Harry Stebbings! #venturecapital #climatetech #20VC #hardtech #startups
20VC episode: https://apple.co/4f2w1SE
Mike on Enabling Tech: https://www.linkedin.com/pulse/enabling-tech-breaks-through-mike-schroepfer-ksvhe/