Future360 caught up with Keith Gillard, General Partner at Pangaea Ventures for his exclusive insight into the Top 3 Mistakes made by Cleantech Entrepreneurs. Here’s his advice:
Number one. They often don’t do any due diligence on the VC they are pitching to. They haven’t looked at our website, and they are often pitching things that often just don’t appeal. If it has nothing do to with our mandate and they shouldn’t be wasting our time.
Number two. Entrepreneurs will often tell us that we need to change our mandate. Well we went out there raised money that we could invest into start up companies and we told people exactly what we would be investing in. And if you don’t match exactly what that is, well guess what, we can’t invest in you.
Number three. Cleantech entrepreneurs often build their business plans without thinking of the capital intensity of their business that we need to get an exit. If you need $50 million to 100 million you’re not going to get it, those days are over. Find a way to partner, but don’t ask us.