Our current venture development project is Good People Energy Technologies Inc. We are re-posting their monthly status updates here to let Eat Drink Law blog subscribers follow along as we work on this venture.
Everybody likes a cliff-hanger. So, there we were in February, hanging out with our thINCubator cohort, searching for a supplier who might be able to interpret our hodgepodge of specifications or even reverse engineer a demo unit. Hoping one of the investors we were courting would come back with good news. We plunged into March 2017…
To be honest, March ended up looking a lot like February. We had more meetings and conversations with interested suppliers who might be able to help, including folks who had actually built the product before for our licensor. But after the initial interest, they continue to be stymied by the lack of certainty and technical detail in our documentation and even the product itself. It seems like every demo unit we borrow is actually a little bit different.
We had good discussions with our thINC cohort and it all pointed to some online test marketing to help identify our best customer opportunities, but without enough time or resources to actually make it happen. It didn’t help that I ended up with a backlog of work from my day job to gear up for a family vacation that would eat most of April. It left me hesitant to commit to a new project and Ethan had enough on his own plate working on the supplier and investor side.
We also heard back from The Foundation. The good news was that they are still interested. The bad news was that they need a few months for their board to study and understand the idea of impact investing and how best to do it.
For the full original post, go to: https://www.gdpplnrg.com/single-post/2017/04/28/Good-People-Month-7-Progress-Report