Erb Elements, Summer 2009
Christina Bosch, MBA / MS '11
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Husk Insulation Team pictured at left with Beth Uhlhorn third from right.
What do algae, rice husk ash, and water currents all have in common? If you answered that they all just might be part of our clean energy future, you were right. What’s more, they are also all fundamental elements of new business plans created by Erb students. Building on The Erb Institute’s long tradition of entrepreneurship, several student teams have created new venture ideas from a variety of inspirations, experiences, and coincidences.
Loch McCabe, School of Natural Resources and Environment alum (M.S.’86), former Erb External Advisory Board member, and serial entrepreneur, shared some insight and perspective for current students from his experience launching three organizations and working in the clean tech venture capital space for 23 years. Loch has done this work out of a career-long focus on accelerating the development of processes and technology to simultaneously improve the economy and the planet just as many Erb students aspire to do. In the 15 years that have elapsed since Loch worked to match investors with clean tech entrepreneurs at his second venture, the Environmental Capital Network, he has identified several challenges that clean tech entrepreneurs face on an ongoing basis as well as many ways that the landscape for them has dramatically improved.
The things making clean tech venture easier now are exciting. There is a new perception by the venture capital community, as well as the broader public and government, that clean tech is hip which makes attracting top-notch management teams easier. The potential of these new businesses to create new jobs is an important social benefit that can increase the viability of these start-ups. However, these improvements are tempered by some persistent challenges.
According to Loch, the economics of clean tech are not yet self-evident. Existing regulation, industry and markets are generally risk-averse and the inherent riskiness of new technology combined with new business development can present barriers to success. There are many more start-ups entering the space than were 15 years ago which means that the rate of innovation exceeds the rate of adoption. If consumers are not prepared to adopt new products, this innovation can go to waste. Despite these challenges, Loch was optimistic that the current swell of interest in clean tech will buoy new ideas like those profiled below into an economy that can support these business models. Keeping in mind the full requirements to offer a customer a solution, not just a product, says Loch, will help keep the business relevant and make it successful.
Given the students’ successes so far, it appears they are already thinking of these factors. Erb Elements caught up with three of the student teams recently. Their remarkable stories follow. We appreciate their skill and prescient ideas, and applaud their courage and success.
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Elizabeth Abbett, MS / MBA '10
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With Erb students at the helm, Ross Net Impact (RNI) sailed to its third consecutive Chapter of the Year award at the 2008 Net Impact North America Conference, in Philadelphia, PA last November. RNI was praised for its robust schedule of activities and events, most notably its two conferences, fall’s Global Urban Symposium and winter’s Net Impact Forum. In 2008, RNI increased its membership by 35 percent to nearly 300 members, expanding its reach beyond the business school to include graduate students from the schools of public policy, urban planning, social work, public health, education and natural resources and environment. The following are some of RNI’s other key achievements in 2008:
- Launched the Leadership Crisis Challenge, which has been integrated into the Ross Leadership Initiative and doubled in size in 2009.
- Partnered with BCG for a second year on a three-month consulting project for Food Gatherers, a local nonprofit.
- Partnered with National Foundation for Teaching Entrepreneurship for second annual case competition.
- Created two Vice President of Sustainability positions to work with both campus administration and Ross facilities staff on green operations.
- Created wildly successful social marketing and microfinance classes.
- Launched 11-member Alumni Advisory Board to guide chapter development.
- Persuaded Office of Career Development to hire new career counselor to work with RNI members and related career paths.
- Continued support of new undergraduate and professional Net Impact chapters.
Net Impact is a global network of more than 10,000 students and professionals who are using the power of business to change the world. Emily Reyna, Erb 2009, was co-president during 2008-2009 and was supported by a board of 17 other Ross students including 10 Erb students.