Foresta is finalist at Princeton University’s annual business plan competition
29 May 2009, Princeton, NJ
Foresta Capital was one of six finalists to present at the 13th annual Princeton Entrepreneurs’ Network (PEN) business plan competition. Andrew Miller, Foresta’s managing director, presented an overview of Foresta’s business plan and fielded questions from judges and the audience. The event, attended by approximately 50 participants, coincided with Princeton’s reunions and was part of an all-day conference hosted by PEN. Also representing Foresta were Camille Rebelo and Alberto Lacouture. The team availed itself of the event to exchange ideas with fellow entrepreneurs and received various inquiries, feedback and professional referrals from attendees. Competing teams represented a spectrum of industries with ideas spanning internet domain management, anti-fraud systems for pharmaceuticals in developing countries, memory enhancement software, health service franchising and renewable energy certificate trading. The team wishes to thank PEN’s committee members, in particular president Sabrina Parsons, for their dedicated efforts in organizing, sponsoring and facilitating the event. Andrew Miller commented, “The competition was an excellent venue to hone Foresta’s message, establish connections with alumni entrepreneurs and investors, and enjoy an afternoon of stimulating, creative ideas from entrepreneurs committed to making their diverse businesses a reality.” Foresta looks forward to ongoing participation in PEN’s calendar of activities.
Nicholas Stern, lead author of the influential Stern Review, comments on the effects of the ongoing economic crisis on climate change. In particular, he touches on green investment as an engine for stimulating growth. Others argue that additional regulation stymies growth and that an ailing world economy will lead to lower greenhouse gas emissions. Foresta takes issue with this position and believes that well-crafted regulation can jumpstart growth while making inroads against anthropogenic GHG emissions. Foresta endorses mechanisms that facilitate green investment, such as cap-and-trade's role in channeling carbon finance into renewable energies, clean technology and sustainable forestry.
Foresta's "pitch" profiled by SF Chronicle
24 February 2009, Berkeley, CA
The San Francisco Chronicle today published a brief pitch of the business for Silicon Valley's venture capital community. Although Foresta is not targeting venture capitalists as primary investors, the company received valuable feedback from Adam Grosser, a partner at Foundation Capital and was pleased to receive broader exposure to the investment community throughout northern California. Of more than 250 submissions, Foresta was profiled in the newspaper's first in its series of articles edited by journalist Deborah Gage.
The company was finalist at IE Business School's 2008 Venture Day business plan competition held in Madrid. The contest is IE's annual flagship event to promote entrepreneurship, connect entrepreneurs to the investment community and ultimately facilitate new venture creation. The event was the culmination of six month's of development in the institute's business incubator course known as Venture Lab. The company's founders, all students at IE Business School, received classroom instruction on topics ranging from finance to marketing to strategy as well as in-depth mentoring from professionals in the field. Foresta benefited from invaluable advice from Carlos García Suárez, director at Tecnoma Energía Sostenible and a specialist in Spain's renewable energy sector. The company also thanks Rafael de la Fuente, founder and executive director of Ambisat, an environmental consultancy, for his support. The competition consisted of a semi-final and final round, and Foresta was one of nine finalists among the dozens of projects created by students at the school. Andrew Miller and David Suárez of the Foresta team pitched the project to European investors in a 15-minute presentation followed by questions.
Foresta receives award for best social enterprise
15 November 2008, Madrid, Spain
Foresta's founding team developed the company at IE Business School in Madrid, Spain. Consisting of six teammates from both the Americas and Europe, the project successfully competed in several business plan competitions. In November 2008, the plan and accompanying financial model were submitted to the Sumaq Alliance's annual Social Enterprise Business Plan Competition held in cooperation with Net Impact. The plan competed with dozens of proposals from Sumaq's eight member schools, all aiming to generate "social and/or environmental impact as a central component of the enterprise" while simultaneously achieving profitability. Plans ranged the gamut from micro-finance, environmental mapping, and Fair Trade marketing and distribution, among many others. Foresta was awarded first place.The award was conferred by founder and chairman of Solarcentury, Jeremy Leggett. Andrew Miller, Foresta founder, remarked, "The Foresta team was extremely pleased to be named award recipient in the 2008 Social Enterprise contest. The quality and diversity of competing projects was extremely high, both in terms of social and financial value creation. We are honored to be recognized. This was truly a team effort on the part of the founding team and all the faculty members and outside advisors who took the time to tighten Foresta's model and core strategy." The award includes a 3,000€ cash prize which the company will invest in it fundraising efforts in 2009.
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