Among the cranes and cars of Tysons is a group of engineers and entrepreneurs talking BTUs and grid resiliency in a small office suite. They’re the start of what may be the next energy hub.
A year ago, Dave McCarthy (above) launched Potential Energy DC, an incubator for energy-focused entrepreneurs and startups creating sustainable products and services. Dave, an engineer and entrepreneur, says despite the DC region’s growing tech economy, it lacks the early stage, energy, renewables and environmental ecosystem thriving in Silicon Valley, Boston and New York. The nonprofit incubator has 12 companies and expects to add three or four next month. The goal was 15 companies in 2015, but Dave says it’s looking more like 20. He’s also exploring a private funding platform to be able to invest in the incubator companies.
The incubator moved to Teqcorner from UberOffices this year, taking up half a floor. Walls were removed to create an open, collaborative space, where resident companies are charged a small fee. The program also has a handful of companies based outside the DC area, including Annapolis and San Fran. Some are already generating revenue, including ExyBox, a sensor technology that attaches to a commercial office building HVAC to determine its efficiency. Will Gathright (above) is CEO of Tumalow, a software platform that manages the batteries installed in commercial office and residential buildings for power generation. The company will generate revenue by the end of the year, Dave says.
Dave spent a decade as an Andersen consultant, before starting his own consulting firm. He also spent a few years spear fishing in the Caribbean. He came back in 2010 and launched Windrose Media, a federal contracting firm that does video production and webcasting. Dave says the companies in the incubator are being guided through the Lean Startup methodology, and he has staff helping them apply for funding and business pitch competitions. The incubator also holds networking and educational events like this one. PEDC doesn’t take an equity stake in the companies, and they’re not required to stay a certain amount of time. Dave says his goal was to just create an “environment to get these companies going.”
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