Are we approaching a bubble in cleantech? Apparently, this is a question on a number of people’s minds; each of the VCs at the New York Venture Summit last week was asked to comment on it.
I don’t see it. GE and Siemens achieved combined top-line revenues of over $30 billion in 2010 in this space, and continue to invest huge resources so as to “own the world” as it goes green; you can be sure that no one there is too concerned about a bubble.
The way I look at it, clean tech is in its infancy, the way the Internet was 15 years ago. When will it explode? I can’t say, but I recall those early days of the Internet, as it bopped along for a few years, then went right through the roof. You’ll see something quite similar here.
And here’s the reason – as I was explaining to a client this morning: why do we need products and services that provide sustainability? Because what we’re doing now isn’t sustainable. It’s that simple. Many of our current practices can’t last – even if we want them to.
The boom will be as considerable as it is inevitable.