Søren Houmøllers speech at Copenhagen
Søren Houmøllers speech at the conference
Climate Solutions, September 25th, 2007, Copenhagen,
during the “Investment in cleantech”-session.
My view as panellist will be how we can create the
clean energy and environmental technologies for the
future and approach the global market with them. But
we do, however, have large deficits in our competences.
In Denmark, the wind turbine adventure serves as a
successful case. We conquered the world with our technology
and people often state that we should repeat and copy
What if we are not able to do that? What if the rules
of the game have changed and our way does not work any
more? What if other nations are running fast past us
while we are busy padding our own backs and admiring
our own previous successes?
The problem we have in Denmark is that we are unable
to move new ideas to the global market. A preferred
way of bringing winning technologies to the market is
venture capital. The trust a venture capitalist shows
a company by investing in it shows that the technology,
the team behind, the market and the financial numbers
all qualify the idea. This means a higher success rate,
also because the investor adds capital and management.
In Q3 2006 venture investors in Silicon Valley invested
$300m – or close to DKK2bn – in cleantech.
In the same period of time investments in Denmark totalled
less than DKK50m – or only a few percent of the
Silicon Valley investments. And in 2006 the total global
venture investments in cleantech reached $8.1bn. Analyses
show expected venture investments of more than $100bn
In this context it is hopelessly naïve of us to
think that we would be able to win any race for new
solutions. We need to add much more effort here.
The new rules of the game are:
- Create and maintain an excellent knowledge base
through research, development and testing
- Add innovation, ie the ability to make a business
on the technology
- Add capital and management
Unfortunately, we severely lack the two latter ones.
That is the mission of our company, 1st Mile: To add
innovation and prepare technologies for venture capital,
so that we can bring the new solutions to market and
win the quest for new businesses. We know that if the
idea is good, the team competent and the business plan
of good quality, we will find the money easily.
For Denmark, it is crucial to understand that we can
leverage on our green image and global respect, on our
high level of knowledge, and our previous successes,
but that we are at great risk of losing out on the future
possibilities, if we are not able to add innovation
and entrepreneurship to our competences.
Thank you for your attention.