Did you know SHIFT istaking the stage on Sept 30 and Oct 1?
Technology is evolving faster than ever before.
It creates the opportunity for new products, business models, and bringing products more quickly to market.
But what does it mean for industries such as mobility and energy?
I spoke to Girish Nadkarni, the CEO ofTotalEnergies Ventures, to find out.
TotalEnergies Ventures focuses on finding, funding, and fostering high-potential startups that will create a low carbon future.
In the B2B industrial space, its not just that technology takes time to develop.
Its a sector characterized by long development and sales cycles.
In the B2C world, within nine to 18 you know whether or not you will be successful.
40% off TNW Conference!
They often focus on internal transformation or introducing new products to mission-critical functions and tasks.
TotalEnergies Ventures focuses on later-stage investments.
Nadkarni explains:
There are three risks that startups face: technology, market, and financing.
So we say, Okay, show us that you have customers willing to pay.
Maybe the infrastructure is not there yet.
Or sometimes, youre applying an old mindset to new technology.
In technology, being too early is sometimes the same thing as being wrong.
Nadkarni explains:
A company calledGeneral Magicactually designed the functional equivalent of an iPad.
The only problem was, they were five years too early.
The processors didnt go that fast.
Touchscreen technology was not that good.
The cables and the cellular connections werent great.
So now they had everything that was sufficient, but not everything that was necessary.
We realize that there are many players just waiting in the wings for somebody to start the race.
So what we want to address is the major sectors such as mobility and generation of green hydrogen.
Theres pressure from investors.
Incentives increase through governments offering subsidies.
Additionally, younger consumers are becoming more aware.
Even if its more expensive, companies like Tesco and Stella McCartney will pay more for bio-plastics.
All the stakeholders are putting pressure.
So there is no place to escape.
Do EVs excite your electrons?
Do ebikes get your wheels spinning?
Do self-driving cars get you all charged up?
Story byCate Lawrence
Cate Lawrence is an Australian tech journo living in Berlin.
