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Print Edition StoriesWednesday, November 4, 2009
All-Star Voices
Past MHT All-Stars sound off on recession, cleantech, entrepreneurship
MHT's Doug Banks: 10 Women to Watch in tech
MHT managing editor Rodney Brown on NECN: 22 tech companies give back to community
Flash Slideshow: Mass High Tech All-Stars Thought Leadership Roundtable
Past MHT All-Star honorees were asked to comment on the recession, cleantech and innovation.
As we emerge from the recession, what aspects of business/technology do you think will change/never be the same? What SHOULD change, but may not?
Jeremy Allaire is founder and CEO of Brightcove Inc. He was named an MHT All-Star in 2007:
“The growth in web-based services and on-demand platforms really accelerated during the recession because of the cost savings and increased efficiencies that organizations generate by outsourcing to the ‘cloud’ as opposed to building in-house with traditional installed software and hardware. While Salesforce.com has been successful in this space for several years, the last 18 months has really brought about increased growth and popularity for a range of web-based software and services. I think that trend will only continue as the software-as-a-service market matures, and as we emerge from the throes of the recession.”
Nina Saberi is managing general partner of Castile Ventures. She was selected an MHT All-Star in 2006:
“This period of economic challenge has educated some and reminded others of the critical importance of making efficient use of capital when building a business. What’s difficult to predict is the lasting impact of this lesson, since proven practices are often forgotten in the euphoria of better times.”
Ralph Folz is chief operating officer of Isobar. He was named an MHT All-Star in 2004:
“Technology is colliding with media in a big way. Big advertisers are putting more and more emphasis on transparency, accountability and measurement in their media and marketing plans.
This has meant large demand shifts into search engine marketing, and other forms of measurable digital media. Has the recession helped print, radio, and TV content owners find the courage to change their business models to align? We shall see!”
Vin Bisceglia is general partner of Genovation Capital. He was selected as an MHT in 2006:
First, my expectations are that portfolio companies and investors alike learned a hard lesson in this downturn regarding dependence on debt. Many companies met an untimely demise (or came close to it) when banks unceremoniously pulled the plug. There has been a tectonic shift towards capital efficiency as a result and entrepreneurs will be under even more scrutiny to build companies based on business models that cash flow more predictably than ever.
Second, I believe that a “return to basics” is a good thing for the innovation/venture industry. That is, a focus on disruptive innovations built on a commercially viable model that evolves from a resourceful and capital-efficient team should be the foundation of the future. However, my fear is that the lessons learned through this recession will be lost when the markets hit new highs.
Our short-term memory loss will result in long term pain!
What will be the lasting impact of the 2008-09 recession on the cleantech sector?
Chuck Digate, Named an MHT All-Star in 2005, transitioned into the cleantech space as a New England Clean Energy Council fellow in 2008:
"The 2008-09 recession provided the cleantech industry with a basket of government incentives, thus accelerating the development of renewable energy supplies. Wind, solar and biomass energy sources have and will benefit from these incentives and resulting influx of private capital investment.
Interest in energy efficiency services and products was trendy during the peak energy price period of summer 2008 but has now settled down. However, investment in this category should remain noticeably strong due to projected continued pricing instability."
Justin Aborn, named an MHT All-Star in 2008, is chief scientist at energy storage company General Compression:
“I hope that the lasting impact of the 08-09 recession will be a collective awareness of the consequence of irresponsible resource stewardship, where “resource” not only means “cash,” but its near equivalents: energy and environment.
I have some reason to believe that we actually WILL remember this awareness. Fear powerfully imprints the mind. We were pushed so close to the edge, that we could peek over the edge and see frightening scenarios just a heartbeat away. Moreover, the powerful propagation of our crisis across the entire planet gives me some reason to believe that, maybe, this recognition is worldwide, and that “we” may very well consist of some substantial fraction of humanity. Maybe more of humanity is coming to recognize that we have an interest in cooperating.
I hope that the impact of the 08-09 recession will be a recognition that we have been granted a very short reprieve. A fleeting chance to get our act together, to detox, and get clean. A hanging at dawn tends to focus the mind."
Una Ryan, named an MHT All-Star in 2004 when she was CEO of Avant Therapeutics Inc., today is CEO of Waltham Technologies Inc., which is developing means to create products, including oil for biodiesel from wastewater:
“I think the difficult times have focused investors on quality and entrepreneurs on being capital efficient. These are good things. On the other hand there are states that are less well-endowed with startup mentality and cluster infrastructure who are making sweet siren songs for companies willing to move their headquarters. This is good thing for the industry but not necessarily for the region.”
Where should a young entrepreneur look for great ideas?
Win Treese, principal at Serissa Research Inc., was an MHT All-Star in 1999:
“For a good idea, put together two concepts that don’t usually go together but are good in combination: Peanut butter and chocolate, geography and the Internet, etc.
For a great idea, put together three concepts that don’t usually go together. Look where other people aren’t looking. If the VCs are already funding ideas like yours, find a different one.
If you’ve got a really great idea, it’s probably hard to find investors — the risk of something truly new is very high. That’s a sign you’re on to something. It can also be a sign that you’re off in the weeds.
If it’s a great idea, don’t give up on it. If you don’t believe, no one else will.”
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