1. Innovation Fund Interview Pitch Case
TM
The Clear Path to Sustainability
Instructions:
• Please review this slide deck from an actual IF pitch for your Spring
2013 IF Interview
• You may research whatever you would like on the company but focus
on the material in this deck
• Be prepared to explain in your interview whether you (as an
Innovation Fund investor) would or would not fund this company
• You will have around 5-10 minutes to justify your decision
• In a normal situation this would be presented to you. If things are
unclear from the deck, just do your best! You will never have complete
information…

2. THE PROBLEM
In the US,
70% of all
electricity is
consumed by
buildings.

3. CURRENT SOLUTIONS

4. OUR SOLUTION
Invisergy has developed a transparent, electricity generating device
that can be installed with or applied to any transparent surface.
Invisergy’s proprietary process involves applying a very inexpensive
dye to the surface of the window. This dye redirects light to the edges
of the window where it is harnessed by photovoltaic cells.

5. HOW DOES IT WORK?
How Energy is Generated
1. Each window collects
2.
incident sunlight via the
luminescent dye.
1.
2. The sunlight then travels
3. to the edges of the window
where it is converted into
electricity via photovoltaic
cells.
3. The electricity is then
sent to a central inverter
which connects all the
windows to the grid.

6. WHAT IS INNOVATIVE?
Invisergy’s manufacturing process is truly innovative:
• Orders of magnitude reduction in cost
• 3x increase in efficiency
• Allows for the use of inexpensive dyes
• Maintains standard window installation costs

7. The Transformative Power of Our Product – Willis Tower Case Study:
Suppose a client installs Invisergy’s PVGU on the windows of the Willis Tower (formerly Sears
Tower) in Chicago, U.S.A.
Approximately 15,000 windows installed.
Overall Efficiency of System: 3% Energy Generation: 500 kW = 2.3 acre solar farm!
Cost Per Watt = $3/W Pay-back Period = Less than 5 years

8. OUR TEAM (PENN-MIT)
Technical Development (MIT) Business Development (Wharton/SEAS)
 NAME 1  NAME 3
 Penn M&T 09’, MSE & FNCE  Penn M&T 14’ CBE & FNCE/MGMT
 Masters in Physics from UK  NAME 4
 PhD 1st yr MIT  Penn M&T 13’ MSE & FNCE
 NAME 2
 PhD 3rd yr MIT
 Chemistry and Chemical Engineering
Advisory Board (Wharton/SEAS)
 NAEM 5 has more than 20 years of experience developing business strategies
for emerging companies as well as Fortune 500 clients.
 NAME 6 has focused his entire career around starting and building emerging
growth technology businesses. He is currently CEO of AgileSwitch, LLC.

9. USE OF IF FUNDS:
FOR DEVELOPMENT OF INVISERGY’S 4TH GENERATION PROTOTYPE
$400 - Luminescent Lumogen dyes from BASF
$100 – Solvent for assembly
$100 – Glass to use in 4th generation prototype
$100 – Wires for assembly
$100 – Epoxy for assembly
$200 - CIGS solar cells for the 4th generation prototype
------
= $1000
Critical for Invisergy to develop a 4th generation prototype for upcoming
competitions, like MIT’s 100K, and for us to begin to gather more accurate data
to assess system performance.

10. TARGET MARKET

11. TARGET MARKET

12. TARGET CUSTOMERS

13. COMPETITIVE LANDSCAPE

14. Competitive
Comparison
Company Name Invisergy Covalent Solar Konarka Pythagoras Solar Sage Glass
Type of firm BIPV - LSC BIPV - LSC BIPV – Organic PV BIPV – Silicon Active shading
Quantitative Characteristics
Electricity generating? Yes Yes Yes Yes No
Efficiency (%) 3% 6.8% (projected) 1% 14% NA
Power Output (W/ft2) 3 W/ft2 3 W/ft2 1 W/ft2 13 W/ft2 NA
Window size Any Any 26" x 21" 12" x 1" Any
Transparency (%) 70-95% Unknown Low, but unknown 50% 2-100%
Qualitative Characteristics
Aesthetically pleasing Yes No, color tinted No, red striations No, bar-like Yes, tinted
Highly customizable designs Yes No No No No
Pricing
Price per watt $3 Unknown Unknown $10 Unknown
Price per square foot ($/ft2) $10 Unknown Unknown $125 $700
Payback Period < 5 years Unknown Unknown < 5 years > 15 years

15. $25,000,000
$20,000,000
FINANCIAL $15,000,000
PERFORMANCE $10,000,000
Gross Profit
Net Income
$5,000,000
$0
2012 2013 2014 2015 2016
-$5,000,000
(In 1000s of $) 2012 2013 2014 2015 2016
Revenue $0 $0 $159 $12,095 $51,402
COGS $0 $0 $144 $8,466 $30,841
Gross Profit $0 $0 $156 $3,628 $20,560
Salary & Wages $120 $480 $756 $794 $834
Operating $193 $397 $98 $109 $120
Expenses
Other Expenses $0 $15 $16.6 $833 $5,897
Total Expenses $313 $892 $871 $1,735 $6,850
EBITDA -$313 -$877 -$839 $2,726 $19,608
EBIT -$313 -$892 -$855 $2,705 $19,587
Net Income -$313 -$892 -$855 $1,894 $13,710

16. REVENUE MODEL/PERFORMANCE

17. THE NEXT 6 MONTHS

18. KEY MILESTONES
January 2012 - Phase II of R&D begins - optimization and
improvement of the product with help from WTH IF.
March 2012 - Applications for several grants,
SBIR/STTR/ARPA-E, are submitted to secure initial funding.
January 2013 – Invisergy looks to receive the required
$1,500,000 in funding from an angel or VC.
April 2014 - Invisergy makes first sale of its product in the
MUSH market in the Northeast U.S.
January 2015 - Invisergy penetrates the U.S. commercial
market for its product.
2016 - Invisergy expands into the residential market and hits
$50M in revenue target.
2017 - Invisergy begins to apply its product to the retrofitting
market and looks to further applications of its technology.

19. Q&A