This Week in Startups VC School: What's a venture scale business + Matt Duesterberg of OhmConnect | E1499
Jul 3, 2022
Matt Duesterberg, co-founder of OhmConnect, shares insights on transforming energy consumption with innovative strategies that incentivize users to save energy. He discusses the concept of 'negawatts'—monetized energy savings and the company's remarkable impact during California's heat wave. The conversation dives into the financial complexities of venture capital, emphasizing the importance of presenting ambitious visions to investors. Additionally, Duesterberg highlights the need for a decentralized energy model and strategies for scaling energy efficiency for a sustainable future.
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Venture Capital Focus
- Venture capital funds seek high-growth software companies, targeting substantial returns.
- Many businesses mistakenly believe venture capital suits their needs, like restaurants or pizzerias.
Assess Market Size
- Founders should conduct a bottom-up TAM analysis to assess market size and potential revenue.
- This analysis helps determine if their business has a natural ceiling or can achieve venture-scale growth.
Scale and Stage
- Venture scale has different meanings based on investment stage and check size.
- Early-stage investors might accept smaller exits, while later-stage VCs require larger outcomes.