What’s the biggest problem we’ve been pitched in a startup deck?
A recent pitch deck we saw recently simply said: “Climate change is the world’s biggest problem EVER, and it is approaching a point of no return.”
This got us excited.
The vast majority of decks we get from startups have a “problem” slide — and so they should. In a sentence or two this slide should explain more than any other why a product or service exists.
The now common problem/solution narrative is one which evolved in the early years of tech startup investing and is recommended by many, including 7percent. And there is nothing we love more than audacious teams who set their sights on huge problems. Clim8 communicated a clear mission: to have a fundamental impact on the global challenge of climate change.
That challenge is massive. Some $2.4 trillion needs to be invested, EVERY YEAR, into clean energy to avoid the disastrous consequences of climate change. That’s a big, interesting and timely problem.
Starting your pitch with a problem which is too small or ill-defined can often be the first step to leaving venture capital investors underwhelmed.
We backed Duncan and his team as first institutional money-in because Clim8 has an opportunity to make an impact at scale. They’ve created an easy to use app which enables you or I to invest into a planet-friendly portfolios of companies and their early access waitlist is growing at over 10% week on week — an important signal for us as early investors that Clim8 are doing something right with their go-to-market and messaging.
This is not, the team assures us, your usual “ESG” (Environmental, Social, Governance) investing. ESG is the reassuring label stamped onto your index fund or pension to make you feel better about where your money is being put to work.
The trouble is, too often ESG funds are passive, aiming only “to avoid doing bad” or worse, are what Duncan describes as greenwash which is when companies or fund managers overstate their green credentials. For example, many ESG funds have household name big-oil companies in them. Hardly sustainable investing.
At 7percent we believe people are looking for a way to make a real difference to climate change; and if you can do so while making strong investment returns, all the better!
According to Nordea Bank research, sustainable investing can be >27 times more impactful on a person’s carbon footprint than eating less meat, using public transport, reducing water use or flying less. That’s something we got excited about.
Along with Duncan’s 20 years of experience in green-tech and renewable energy, and with three startups already under his belt, we’re bullish on Clim8 Invest.
The best part is, you can join us: take action today against climate change by signing up for early access or join their crowdfunding round, before it’s oversubscribed.
