Beringea Holds “Office Hours” For Entrepreneurs. 15 Minutes To Sell A Dream.
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ArborWind. The company has a patent pending on a wind turbine design made from light weight composite blends.
Beeler says such technology will provide potential customers like supermarkets, greenhouses, and eventually the federal government a cheaper alternative to other existing models.
The turbine “is big enough to generate meaty power but small enough to be economical,” Beller says.
Bocan patiently listens and then fires off a series of questions.
How will ArborWind market and distribute its technology? Does the company have the personnel who can close a deal? Does ArborWind have the data to prove it can manufacture the equipment and generate sustainable profit margins?
“That’s the biggest problem for wind,” Bocan says. “The margins are terrible. Any sort of price erosion and your business is done.”
Beeler mostly listens and jots down a few notes.
Now it’s Jerry Wolford’s turn. The CEO of E-Go Electric says his startup will convert gasoline-powered vehicles into 100 percent battery-powered electric cars.
He envisions large rental companies in places like California and Calgary sending their fleets to special facilities that will perform the equivalent of an electric car makeover. From Porsche 911s to low gas mileage commercial vans and SUVs, E-Go Electric will tap into growing consumer and business demand for environmentally friendly, energy efficient cars, Wolford says.
One of E-Go Electric’s major assets, Wolford explains, is its management team, which includes the former CEO of Porshe Engineering and a mysterious “Dr. C” in Europe who will only speak by phone.
Time’s up. After Wolford exits the room, I ask Bocan what he thought of the two presentations.
Both companies’ technologies are impressive, Bocan says. The problem is the business side.
Bocan thinks ArborWind will find it tough to break into such a competitive market without well-connected talent that can close a deal.
As for E-Go Electric, Bocan’s main concern comes down to demand: why would anyone pay the company to convert gas vehicles into electric cars when they could just outright buy electric cars directly from the manufacturer?
Bocan notes E-Go Electric will only convert cars that are four years old or younger, which will severely narrow the company’s potential customer pool.
Two down, 18 to go.