Introducing Saravana Shanmukham from S P Elements
Q: Can you introduce yourself and your startup?
A: Sure, I’m Saravana Perumal, based in India, and the founder of S P Elements. Our startup originated from a textile manufacturing company, focusing primarily on industrial water recycling. The journey began as we tackled challenges within our own textile manufacturing processes. We developed several technologies aimed at solving these problems and realized the potential for wider application. This realization led us to commercialize our solutions, aiming to contribute significantly to the industrial water recycling sector. Our experience within the textile industry provided us with a unique insight into the challenges of water usage and conservation, driving us to innovate and offer practical solutions for the market.
Q: What inspired you to embark on this water recycling project?
A: My background is in chemical engineering, but the real push to develop our water recycling technology stemmed from a pressing need within our own textile manufacturing operations. We faced significant challenges in managing water use and recycling, which are critical aspects of sustainable manufacturing. Initially, we didn’t set out to create a new technology. Our journey began with extensive research and outreach to companies and startups in the United States, but unfortunately, none could offer a viable solution that met our specific needs.
In pursuit of answers, we engaged with academic institutions and organizations, including MIT Boston, which led to PhD scholars collaborating on a project with us. This collaborative effort was born out of sheer necessity; despite our extensive search, we couldn’t find existing solutions that addressed our problem effectively. This experience of developing a solution in-house, driven by desperation and necessity, laid the foundation for our venture into commercialization. It made us realize that if we could solve such a critical issue for ourselves, there might be a broader market need for this technology. This belief in the potential value of our solutions to others facing similar challenges inspired us to commercialize our innovations.
Why CleanTech Open?
Q: How did you come across CleanTech Open and decide to join their accelerator program?
A: The journey to CleanTech Open began with my desire to expand beyond the regional and local insights accessible through my immediate network. Venturing into the environmental sector, particularly focusing on water recycling technologies, was new territory for me. I recognized the need for a global perspective and a deeper understanding of the non-product technical aspects of running a startup in this innovative field. This realization led me to explore accelerators that could bridge these gaps and provide the comprehensive support I needed. During this exploration, I discovered CleanTech Open, which specializes in nurturing startups in the clean technology space. The decision to join their accelerator program was driven by my ambition to gain a global outlook and acquire the necessary knowledge and skills to navigate the complexities of the clean technology sector effectively. CleanTech Open appeared as an ideal platform to connect with like-minded individuals, experts, and resources that could propel my startup to the next level.
Understanding CleanTech Open’s Program Structure and Costs
Q: Once accepted, does CleanTech Open provide immediate funding to startups?
A: CleanTech Open’s accelerator program does not offer direct funding to participants upon acceptance. It is, in fact, a paid program, which was a bit of a surprise to me initially. I had thought there might be a waiver or subsidy for the fees, but it turned out to be a fully paid engagement. The rationale behind this structure, as explained by the program, is that the fees primarily cover the basic costs of running the program rather than generating profit. This ensures that the focus remains on providing value to the startups through mentorship, resources, and networking opportunities rather than financial support. Regarding the program fees, while I don’t recall the exact amount in Indian Rupees, it ranged between 200,000 to 300,000. It’s also worth noting that participating in this program does not require giving up any equity in the company. The financial commitment is limited to the program fee, allowing startups to retain full ownership and control over their business while benefiting from the accelerator’s offerings. This structure is particularly appealing to founders who are cautious about diluting their equity early in their venture’s journey.
A Glimpse into Daily Life within CleanTech Open’s Accelerator
Q: Once accepted into CleanTech Open, what did a typical day look like for participants?
A: Upon joining CleanTech Open’s accelerator, the program kicked off with an orientation phase comprising webinars and seminars designed to familiarize us with the schedule, agenda, and key milestones expected throughout the duration. This initial phase was crucial for setting the stage for what lay ahead. Following this, we entered into discussions with our assigned mentors. These conversations were instrumental in establishing a mutual understanding between us and the mentors regarding the nature of support they would provide and our startup’s specific needs and goals.
Our regular routine then settled into a rhythm of weekly reviews with these mentors, which were an essential component of the program. These sessions allowed us to track progress, address challenges, and receive targeted advice on navigating the path forward. Additionally, the program was structured around submissions and milestones that we needed to achieve, interspersed with webinars that provided further learning opportunities and insights into various aspects of running and scaling a startup in the clean technology sector. This blend of mentorship, structured milestones, and educational content created a comprehensive support system designed to accelerate our growth and development within the clean tech industry, ensuring we were constantly moving towards our objectives.
CleanTech Open’s Distinctive Experience
Q: Reflecting on the CleanTech Open program, what stands out the most to you?
A: The standout feature of the CleanTech Open accelerator, from my perspective, was its focused approach on clean technology. As this was my first accelerator experience, I didn’t have others for direct comparison, but the program effectively met my objective of gaining a global perspective in the clean tech industry. The mentors were particularly impressive, each bringing a wealth of experience and knowledge that was invaluable to our journey. Another remarkable aspect was the caliber of speakers and experts involved in the webinars. Notable figures like Seth Godin were among those who delivered sessions on company building and other critical topics, providing insights that you wouldn’t easily find elsewhere. Additionally, the program facilitated discussions with practicing lawyers on intricate matters such as equity and stakes, which are crucial for any startup founder to understand. Overall, the program significantly broadened my horizons, offering a depth of knowledge and a network that has been instrumental in expanding the scope of my work in the clean technology space.
Areas for Improvement in CleanTech Open’s Program
Q: Looking back, what aspects of the CleanTech Open program do you feel could be improved?
A: One area where I felt the CleanTech Open accelerator could enhance its support is in providing more in-depth guidance and tools for quantifying the market potential. While I developed my own approach to market analysis, which was subsequently reviewed and critiqued by my mentors, I believe there’s room for the program to offer more structured resources and methodologies in this critical area.
The challenge of accurately assessing the market size and potential has been a significant hurdle for me. There’s an ongoing concern that the market for our startup might be smaller than anticipated. Although I personally do not see our market as being too limited, the lingering uncertainty around this issue suggests that there could be more effective ways to conduct market discovery and validation.
Improving this aspect of the program could provide startups with a clearer path to understanding their target markets, thereby enhancing their strategic planning and decision-making processes. This feedback aims to highlight an opportunity for the program to further empower participants by equipping them with the knowledge and skills needed to more confidently navigate market analysis challenges.
Navigating CleanTech Open’s Program from India
Q: How did being based in India affect your participation in CleanTech Open’s program, especially considering the geographic distance from the United States?
A: Participating in CleanTech Open’s accelerator from India presented certain challenges, primarily the inability to attend in-person meetups. Although I managed to attend the final meetup by deciding to travel at the last minute, missing out on the other in-person sessions was a drawback. This was especially felt during the customer discovery phase, where my aim was to gain insights into the U.S. market. The limitation of online interactions compared to face-to-face conversations made it difficult to gauge reactions and engage deeply with potential customers.
Despite these challenges, I would still recommend the program to those participating remotely, with the caveat that if their primary market of interest lies outside their immediate geography, they should be prepared to make adjustments. This might include setting aside resources for travel or finding creative ways to conduct effective customer discovery in their target market.
Q: For startups targeting markets outside their local geography, like the U.S., would you still recommend CleanTech Open’s program?
A: Yes, despite the challenges associated with remote participation, the program offers considerable value through its comprehensive content and the global perspective it provides. For startups that have not previously navigated the complexities of entering new markets, CleanTech Open offers a wealth of useful information and insights. The program’s emphasis on clean technology and its dedicated support structure, including access to experienced mentors and industry experts, make it a worthwhile endeavor for entrepreneurs aiming to make an impact on a global scale, even if they are doing so from afar.
Key Takeaways from the CleanTech Accelerator
Q: Reflecting on your experience, what were the key benefits and highlights of participating in the CleanTech Open accelerator for your startup?
A: Participating in the CleanTech Open accelerator was an enriching experience that provided several key benefits for my startup. One of the most significant advantages was the opportunity to observe and learn from the diverse projects within our cohort. Although my startup focused specifically on water recycling, seeing the range of innovations and approaches other CleanTech startups were pursuing broadened my understanding of the sector and inspired new ideas. The program also facilitated valuable networking opportunities. By participating in the final graduation event and presenting at a public showcase attended by people from Boston and beyond, we gained visibility within the CleanTech Open community. This exposure was not only beneficial for our startup’s reputation but also opened doors to potential collaborations and partnerships.
Another highlight was the face-to-face interactions that came with attending the last event in person. These interactions allowed for more meaningful engagement with peers, mentors, and industry professionals, further enriching the program experience. Overall, the insights gained into the broader CleanTech Open landscape, coupled with the networks formed and the visibility achieved through public events, were instrumental in advancing our startup. These experiences underscored the value of being part of a focused accelerator program, especially one dedicated to the clean technology sector.
Post-Accelerator Achievements and Strategic Decisions
Q: Following your participation in the CleanTech Open accelerator, what achievements have you realized, and how has it influenced your startup’s direction?
A: The CleanTech Open accelerator played a crucial role in refining our understanding of the market size and potential for our water recycling technology. One of the most tangible outcomes post-accelerator has been gaining a more realistic perspective on the market landscape. This newfound clarity has prompted us to adopt a more cautious approach towards our startup’s future. In light of the insights gained, we’ve decided to take a step back and not commit further resources until we can thoroughly validate that there is a sufficient market for our solution. This strategic pause allows us to conserve our resources and avoid overextension until we’re more confident in the market demand for our technology. The accelerator’s impact has been significant in terms of helping us make informed decisions about our trajectory. While this might mean slowing down our efforts temporarily, it ensures that any future actions we take are grounded in a solid understanding of our potential to succeed in the marketplace. This careful, measured approach to growth and expansion is directly influenced by the knowledge and insights gained through our experience with CleanTech Open.
Future Milestones and Ongoing Support from CleanTech Open
Q: Looking ahead, what milestones are you aiming for, and how has CleanTech Open continued to support you as an alumni?
A: Moving forward, our immediate focus is on validating the market demand for our water recycling technology more thoroughly. Achieving this validation is critical before we commit additional resources and scale our operations. As for ongoing support from CleanTech Open, they have indeed kept the door open for alumni engagement by providing links to join alumni events and offering various offers, coupons, and discounts, which are particularly beneficial for startups operating within the U.S. However, being based in India presents certain limitations in leveraging these alumni-specific perks fully. While there are opportunities for legal advice applicable to the U.S. market, the geographic distance restricts our ability to participate in in-person events and capitalize on some of the offers extended to alumni.
In terms of investor connections, CleanTech Open facilitated an online event where I could present to potential investors, which was a valuable opportunity. Nonetheless, there’s room for improvement in this area. More frequent and diverse investor introduction events could significantly enhance the post-accelerator support for startups like mine, helping us to gain visibility and potentially secure investment for future growth. Overall, while CleanTech Open’s support as part of their alumni network offers certain benefits, maximizing these opportunities from a distance remains a challenge. Enhanced virtual engagement and investor introduction efforts could further bolster the value of this ongoing support for international alumni.
Advice for Prospective CleanTech Open Applicants
Q: What advice would you offer to those considering applying to the CleanTech Open accelerator?
A: For anyone looking to apply to CleanTech Open, it’s crucial to have a clear understanding of what specific areas you need support in. Identifying and prioritizing your needs—be it market study, customer discovery, or something else—before entering the program can significantly enhance the value you derive from it. This focused approach ensures you can direct your efforts and the resources provided towards areas that will have the most impact on your startup’s development.
Q: Do you have any tips for the application process itself?
A: When applying, having a prototype or a proof of concept can greatly strengthen your application. Demonstrating a tangible level of product development or market understanding not only showcases your commitment but also provides a solid foundation for your business idea. If a prototype isn’t feasible, supporting your application with a well-researched paper or any strong technical documentation that validates your concept can also be beneficial. Essentially, anything that authentically represents the potential of your product or solution can make your application stand out. Focusing on showcasing the strength and viability of your product or concept is key to making a compelling case for your inclusion in the program.