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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
Seed Accelerator Overview<br />Provide Entrepreneurs with Capital, Mentorship & Connections, in Return for Equity<br />Structured 12 week curriculum culminating in “Pitch Day” to Angels, VCs and Industry Execs<br />Similar programs have achieved strong returns in other IT verticals<br />
Why SURGE?Growth/Success of US Seed Accelerators<br />There is NO accelerator focused on ENERGY IT vertical<br />
Case Studies: IT Successes <br />Another Y-Combinator Win: WuFoo Exits for $35M, After Raising Only $118,000 <br />$35M<br />Salesforce.com has just announced that it is acquiring Heroku for $212M in cash<br />$212M<br />AOL acquired SocialThing with $550k in fund raising post TechStars <br />$10M<br />Limbo merges with Brightkite and announces $9M funding round<br />$9M<br />Localytics Raises $2.5M for Mobile Analytics Platform<br />$3M<br />Dallas’ TechWildcatters ImageVisionLabs raises $2M from Walden Venture Capital<br />$2M<br />
SURGE<br />Houston’s For-Profit, Mentor-Driven Seed Accelerator <br />12-week Bootcamp launching in Spring 2012<br />1st & Only Accelerator Focused on ENERGY + IT<br />Progress<br /><ul><li>50+ Mentors: Leading VC’s, Energy Execs, Entrepreneurs
Raised over $500K (DFJ Mercury, HAN, Energy Co’s)
Paying Sponsors including Energy Focused Service Providers
Joined TechStars Network for global Accelerators best practices</li></li></ul><li>Core Purpose<br />To be the pre-eminent mentor driven seed accelerator focused solely on enabling entrepreneurs to create the efficient energy software technologies of the future, thus reducing the country's reliance on fossil fuels and improving overall energy efficiency. <br />
SMART GRID<br />IT applications used to increase grid efficiency, measure demand, and reduce wasteIncludes Smart Grid, Smart Meter, and EV Grid<br />TRADING & RISK MGMT(ETRM)<br />Capital Markets + IT = Increased visibility and flexible response to supply or demand shocks<br />DIGITAL OILFIELD<br />Data + IT used to maximize production, safety, and efficiency at the wellhead<br />Efficient Energy Software Technologies<br />
Portfolio Strategy<br />FOCUS: Entrepreneurs developing innovative applications at the intersection of Energy + IT<br />GOAL: Take startups from theory & prototype to pilot, next round of funding and commercialization<br />INVESTMENT:<br />10 teams<br />$30k per team<br />6% common equity<br />
Goal: 50%+ to land follow-on funding (>$500k) and land critical pilots in next 6 mos.</li></li></ul><li>Investing in SURGE<br />Why Invest: Cat Bird Seat, Second Order Effects, HAN Energy Ecosystem<br />Investment Structure: LLC Model used by Leading Accelerators<br /><ul><li>Raising $900,000 ($500k already funded)
Carried interest in lieu of salary, No Mgt Fee, Standard Practice</li></ul>Expected Returns<br /><ul><li>TechStarssees 2-3x return in 5-7 years, potential for larger upside. </li></li></ul><li>BACKUP<br />
Target Entrepreneurs<br /><ul><li>LOCATION: Willing to locate in Houston for 3 month bootcamp
FOUNDERS: Coachable Intelligence, Integrity and Energy