Going green? New advisory group could provide assistance

Editor’s note: Writing today’s Skinny is Kirsten Tyler, a former editor of BusinessLeader magazine and a regular contributor to WRAL Local Tech Wire.

RALEIGH, N.C. - As the convergence toward “green” technologies becomes inevitable, a new organization has been formed to serve the very entrepreneurs creating these types of sustainable products and applications within North Carolina.

The North Carolina Sustainable Entrepreneurs Group (NCSEG), established by four business executives with strong connections within the Triangle entrepreneurial community, wants to help such innovators evolve from the idea stage to a new business venture, free of charge.

Provided the business idea has some sort of sustainable technology, the entrepreneurs involved can work with NCSEG to identify resources needed to get their business launched. The goal is to assist start-ups through early development and guide them to self-sufficiency.

“Emerging companies usually lack the expertise to bring their product to market,” said Bill Warner, co-founder of NCSEG and chairman of angel investor network Triangle Accredited Capital Forum. (He also is a regular contributor to WRAL Local Tech Wire.) “We are the gear-box that helps them get there and clean technologies are hot right now in terms of early-stage financing.”

Recent research shows clearly that green technology is a rapidly growing sector. According to a new Forrester report, “The Dawn of Green IT Services,” corporate spending on green IT services will grow by 60 percent annually over the next five years. Plus, InfoWorld reports a $500 million market for 2008.

NCSEG services include helping with business plan development, finding financing, protecting intellectual property, management guidance, and more. The organization will focus on sustainable technologies that meet one or more of the following criteria:

• Renewable energy or alternative energy project

• Enhances recycling and waste reduction

• Energy efficiency or resource conservation

• Is non-toxic and demonstrates environmental stewardship

• Improves safety/reduces risks of accidents

• Is a break-through that is good for the environment

According to Warner, the group is currently working with three such companies thus far, including Maverick Enterprises of Monroe, N.C. that has a product line of biodegradable plastics.

“We expect these entrepreneurs to set the example for sustainable technology companies and to give back to others as role models as their companies mature,” added Warner.

In addition to Warner, the founding members of NCSEG are:

• Neal Hill, who has a background in sustainability issues at the corporate management and governance levels

• Brad Lienhart, vice president of business development, Microphase Coatings

• Elaine Rideoutt, a serial social entrepreneur and public policy development advocate