Start-ups are the dominant source of innovation in all categories of food technology today. Venture capital can accelerate innovation by allowing startups to pursue niche areas, iterate faster, and take more risks than larger companies, writes Samir Kaul.
Unfortunately I was wrong. In the late 2000s, the cleantech bubble burst and billions of dollars in venture capital financing and government loan guarantees for sustainable energy projects dried up. I was disappointed, depressed, and frankly, depressed. Despite their avowed concern for the environment, investors were unwilling to wait for returns and consumers were unwilling to pay more for energy. If we in Silicon Valley couldn’t muster the financial will to fight climate change, where could we be?