What are some of the most pressing or overlooked environmental issues you hope to see addressed by future EEx portfolio companies?
To me, one of the most pressing issues is rethinking the way we move around our islands. More than 60 percent of our fossil fuel use goes toward transportation. Elemental Excelerator is looking to fund startups with new mobility solutions, particularly in heavy freight, shipping and aviation as well as mobility for rural communities, shared mobility, last-mile solutions, fleet management and autonomous vehicle technology.
An issue that requires a different kind of thinking is the equitable distribution of technology and innovation. The problem isn’t that people don’t understand the overarching benefits of clean technologies such as local food and energy-efficient appliances. The real hang-up is that most of these products and services tend to be geared towards those in higher income brackets. We are actively looking for companies that increase access to technology and innovation within low- to moderate-income communities.
“Don’t let the fear of failure deter you from trying something new.”
What would you like to see on a policy level to further Elemental Excelerator’s holistic systems approach to making the world a better place to live?
We are intently focused on unlocking barriers to innovation, and we’re looking at this from two vantage points—how can policy enable companies with new solutions to accelerate their impact and how can policy actually spur new ideas? Data is one area that could use improvement and where we are trying new things. Elemental Excelerator has co-hosted two hackathons in agriculture and transportation with the Hawaii Technology Development Corporation and Hawaii Open Data and funded companies in our portfolio that help farmers, utility operators, transit authorities and small business owners make better decisions with easily accessible and digestible data.
How are we doing as a community in terms of transitioning to renewable energy? What could the general public be doing better?
One thing I’ve learned since starting Elemental Excelerator and working with more than 60 entrepreneurs is that it’s okay to make mistakes as long as you’re learning from them. Our goal isn’t to get it right on our first try. Rather, it’s accelerating the learning process so that we can get to the optimal solution faster. Thomas Edison’s invention of the lightbulb is the perfect example of this. He said, “I have not failed. I’ve just found 10,000 ways that won’t work.” I’d encourage all of us to not let the fear of failure deter you from trying something new. Let’s start small and work our way up.