SURGE Accelerator Overview
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SURGE Accelerator, a member of the TechStars Network, is a mentor-driven seed accelerator empowering entrepreneurs solving the world’s energy problems using software. Based in Houston, “The Energy Capital of the World”, SURGE Accelerator rapidly assists companies innovating and exploiting the massive shifts in technology, policy, and expertise taking place in the traditional energy industry by providing them with the seed funding and connecting them to the capital, expertise, customers, and the energy eco-system. SURGE will assist entrepreneurs innovating in three primary segments – Smart Grid, Energy Trading and Risk Management, and the Digital Oilfield. SURGE’s first class will launch in the Spring of 2012. For more information, please visit our website at www.surgeaccelerator.com.
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SURGE Accelerator Overview
- 1. Houston’s Mentor-driven Seed Accelerator “Empowering entrepreneurs solving the world’s energy problems using software” SPRING 2012
- 2. Seed Accelerator Overview • Provide Entrepreneurs with Capital, Mentorship & Connections, in Return for Equity • Structured 12 week curriculum culminating in “Pitch Day” to Angels, VCs and Industry Execs • Similar programs have achieved strong returns in other IT verticals
- 3. Why SURGE? Growth/Success of US Seed Accelerators There is NO accelerator focused on ENERGY IT vertical
- 4. Case Studies: IT Successes Another Y-Combinator Win: WuFoo Exits for $35M, $35M After Raising Only $118,000 Salesforce.com has just announced that it is $212M acquiring Heroku for $212M in cash AOL acquired SocialThing with $550k in fund $10M raising post TechStars Limbo merges with Brightkite and announces $9M $9M funding round Localytics Raises $2.5M for Mobile Analytics $3M Platform Dallas’ TechWildcatters ImageVisionLabs raises $2M $2M from Walden Venture Capital
- 5. SURGE • Houston’s For-Profit, Mentor-Driven Seed Accelerator • 12-week Bootcamp launching in Spring 2012 • 1st & Only Accelerator Focused on ENERGY Software • SURGE Accelerator Overview 80+ Mentors: Leading VC’s, Energy Execs, Entrepreneurs Raised over $1M in funding Launched Website and Attracted PR Paying Sponsors including Energy Focused Service Providers Joined TechStars Network for global Accelerators best practices
- 6. Core Purpose To be the pre-eminent mentor driven seed accelerator focused solely on enabling entrepreneurs to solve the world’s energy problems using software.
- 7. Efficient Energy Software Technologies SMART GRID TRADING & RISK MGMT DIGITAL OILFIELD (ETRM) IT applications used to increase grid efficiency, Capital Markets + IT = Data + IT used to inform measure demand, and Increased visibility and exploration and reduce waste flexible response to maximize supply or demand shocks production, safety, and Includes Smart Grid, Smart efficiency Meter, and EV Grid at the wellhead
- 8. Portfolio Strategy FOCUS: Entrepreneurs developing innovative applications at the intersection of Energy + IT GOAL: Take startups from theory & prototype to pilot, next round of funding and commercialization INVESTMENT: • 10 teams • $30k per team • 6% common equity
- 9. World Class Ecosystem CAPITAL CUSTOMERS COMMUNITY SERVICE PROVIDERS ACCOLADES
- 10. Leadership: Steering Committee Kirk Coburn – Co-founder & Managing Director Serial Entrepreneur and Large Corp Exp: PGA TOUR Network, Chief Outsiders, Blair Garrou – Board Member Co-founder DFJ Mercury. Incubator Expert. Entrepreneur. Rice Faculty. Brian Landrum – Board Member Former COO Reliant Energy. Compaq GM. McKinsey & Co. Andrew Clark – Board Member Former Chairman of HAN. HTC EIR. DFJ Mercury Venture Advisor. Compaq Exec. Brett Perlman – Smart Grid Lead Former Public Utilities Commissioner. McKinsey & Co. Smart Grid Expert.
- 11. Why HOUSTON The Energy Capital of the World Home to more than 5,000 Energy Companies #1 IT Services Economy Fully Deregulated Utility Market (Gen to Cust) Largest Population of Deployed Smart Meters Largest Purchaser of Green Power in Nation #1 Wind Generation
- 12. Keys to Program: Mentors
- 13. SURGE: Custom Curriculum Week 1 Week 2 Week 3 Week 4 Week 5 Week 6 Week 7 Week 8 Week 9 Week 12 SURGE Connect Lead Mentors to Teams DAY Product Development and Market Validation Business Plan and Financial Model Development Connections to Capital, Customers, Entrepreneurs, Expertise, Talent STAGE 1: STAGE 2: STAGE 3: Connections Product Readiness Pilot Landing Term Customer Customer Customer Company Sheet Discovery Validation Creation Building Prep Pivot Mentor Workshops (Marketing, Sales, Ops, IT, Legal, etc.)
- 14. Program Next Steps IDEA PILOT INCUBATION & FUNDING Global Entrepreneurs Incubators Texas Universities Pilots Industry Funding 40+ VC’s from SURGE DAY
- 15. Timeline Date Activity 11/1/11 Open Applications 1/20/12 Investment Committee narrows down finalists 2/01/12 SURGE invites top 25 applicants to pitch 2/10/12 SURGE selects top 10 teams and invites to HOUSTON 3/01/12 SURGE Class 1 Begins 5/23/12 SURGE Class 1 Last Class 5/24/12 SURGE DAY (Pitch Day to 300-400 Angels, VC’s, Corp.)
- 16. Next Steps to SURGE STEP 1: Become a Mentor STEP 2: Identify Other World-Class Mentors STEP 3: Identify Key Problems to Solve STEP 4: Participate in SURGE Day STEP 5: Agree to Pilot/Connect STEP 6: Invest
- 17. Mentoring at SURGE • Giving Back and Building an EcoSystem • Lead Mentoring vs. Ad Hoc Input • Exclusive and World-Class • Timing Commitment: 2-3 hours per week • Focus: business model, go to market strategy, branding, pricing, the investor pitch, connecting to customers • Long-term: Board, Invest, Connect, Give-Back
- 18. SURGE Day • What: Class 1 Presents Plan and Demo • When: May 24, 2012 • Who: 300 – 400 venture capitalists, angel investors, energy companies and corporate development teams, media, entrepreneurs • Where: House of Blues • Goal: 50%+ to land follow-on funding (>$500k) and land critical pilots in next 6 mos.
- 19. BACKUP
- 20. Target Entrepreneurs LOCATION: Willing to locate in Houston for 3 month bootcamp FOUNDERS: Coachable Intelligence, Integrity and Energy ★ Strong value proposition ★ Strong competitive advantage ★ Target a large market CAPITAL: Will bootstrap with seed funding COMPANY FOCUS: ★ Information Technology that Improves Energy Efficiency ★ Existing Prototype/Product ★ Capital Efficient ★ Leverage Texas Ecosystem
- 21. Attracting Entrepreneurs • Global: Partnerships Leading Industry Networks including Energy, CleanTech, and Entrepreneur • Regional: Alliance with TechStars Network, Start-up America, Kaufmann Foundation • Local: ~30 Efficient Energy Companies in HTC, Rice, UH Systems, & Local Startup Groups • Local: Connect with existing Energy ecoSystem to promote Entrepreneurship
- 22. Smart Grid: $138B market Key Application Areas: Customers: Distribution Automation Data Analytics Utilities Demand Response Residential Consumers Cyber Security Commercial Buildings Carbon Management Cities Home Energy Management Electric Vehicle
- 23. Energy Trading & Risk Management: $500M market Key Application Areas: Market data acquisition Customers: Real-time position tracking Energy Companies Predictive analytics & reporting Utilities Carbon trading Commodity Traders Weather Integration Companies that hedge energy use Demand-Response integration (i.e. airlines, freight logistics)
- 24. Digital Oilfield: : $150B+ market Key Application Areas: Real time data acquisition Customers: Reservoir management Well modeling E&P companies 4D Seismic Oil field service companies Wireless remote operations Technology vendors
Notes de l'éditeur
- EXCELERATE LABS – CLASS 170 jobs$7.5M in seed money raisedExitreturnshalf of Fund I ($6.5M exitprice)
- "If Thomas Edison looked at our power system, he would recognize it," he said. "Whereas, Alexander Graham Bell, if he looked at the communication services, he wouldn't recognize it at all. That's how archaic the infrastructure is.”Take advantage of Technology, Policy and Expertise Shift in Traditional Energy
- "If Thomas Edison looked at our power system, he would recognize it," he said. "Whereas, Alexander Graham Bell, if he looked at the communication services, he wouldn't recognize it at all. That's how archaic the infrastructure is."
- Building the necessary transmission infrastructure and utilizing modern information and communications technologies—that is, “smart grid” technologies—will facilitate the integration of renewable sources of electricity into the grid, accommodate the growing number of electric vehicles, help avoid blackouts and restore power quicker when outages occur, and reduce the need for new power plants. Smart grid technologies also provide a foundation for innovation by entrepreneurs and others who can develop tools to empower consumers and help them make informed decisions. A first generation of innovative consumer products and services—such as thermostats that can be controlled from a smart phone, or websites that show how much energy a house is using—can continue to help Americans save money on their electricity bills, and there is great potential to do even more.” – THE WHITE HOUSE
- Energy Trading and Risk Management (ETRM) solutions provide a transparent view of complex portfolios consisting of physical, financial, and natural positions across all commodities, including crude oil, fuels, natural gas, coal, refined products, and power. Complete ETRM systems also optimize business processes around the physical movement and delivery of commodities and the risks associated with those activities. They also enhance the effectiveness of settlement, accounting, and reconciliation processes.Comprehensive ETRM solutions deliver a single platform with the ability to view all exposures and risk analytics, capture transactions, execute logistics, manage positions, perform settlement and accounting functions, and meet compliance requirements. By fully integrating all data and processes into one platform, companies realize improved business process efficiency and transparency across the front, middle and back office. The volatility, complexity and pace of change in the wholesale energy markets present significant opportunities – and equally significant risks. In this environment, energy companies need to build sophisticated, functionally rich capabilities to address price, credit, operational and regulatory risks. At the same time, they need to remain flexible enough to respond to new opportunities and competitive pressures. This requires a combination of deep industry knowledge, robust business processes and integrated, scalable IT systems.We are looking for entrepreneurs that understand and can develop software solutions that offer commodity exposed companies the ability to manage all aspects of the front, mid and back-office processes. Key Application Areas:• Market Data acquisition • Real-time data, connectivity and analysis• Regulatory compliance• Analyzing and managing transaction and portfolio risk• Clearing and reconciling transactions, as well as transaction invoicing and accounting• Carbon trading• Weather Integration• Demand-Response integration
- The digital oil field targets financial and operational excellence by integrating new and upgraded standardized infrastructure and modeling to capture, process, and protect data and intellectual property; transform workflows; enable new roles; and improve collaboration. SOURCE: http://www.epmag.com/Magazine/2011/1/item75080.php