Strategy Track

Team: Diverse and experienced teams with deep knowledge of their industries and a proven track record of execution. We expect active participation from the CEO and one additional executive team member.

Technology: Companies that have developed a scalable solution that shows growth potential beyond their home market. We like for the technology to be validated by a third party and market demand.

Track Fit: We want to see that you are at the right stage of growth and that working with Elemental will be transformational for your company.

As a nonprofit organization, any proceeds from our investments go to supporting future climate tech entrepreneurs. We use either a Simple Agreement for Future Equity (“SAFE”), convertible note, or in some cases may be able to participate directly in an open round. We’ve shared a high-level overview below and will provide more specifics upon acceptance into the program.

Simple Agreement for Future Equity (“SAFE”):

Y Combinator created the SAFE as a simpler alternative to convertible notes. It allows investors to purchase shares in a future round at a pre-negotiated discount (industry standard is 20%). We like this investment vehicle because it is founder-friendly and flexible, allowing us to work with companies outside of their usual fundraising cycle. Accepted companies will execute three separate SAFEs with Elemental, each aligned with program milestone deliverables and payment amounts.

Convertible Note:

In some cases, we will use a convertible note. This flexibility allows later stage companies to choose the instrument that is right for you. If you’re interested in learning more about the commercial terms of our Convertible Note, we can share that information further into the application process. Accepted companies will execute three separate notes with Elemental, each aligned with program milestone deliverables and payment amounts.

Direct Investments:

In some instances, Elemental will be willing to directly participate in an open round if the timing aligns with completion of the milestones deliverables. In addition, as Elemental is constantly looking to fill financial and programmatic gaps, we may offer other funding mechanisms in the future, such as additional debt offerings. We will work closely with accepted companies to find a path that makes sense for both parties.

The core program runs October 2023 – July 2024 and companies can anticipate 2–5 hours/week of workshops, 1:1 coaching, and applied strategy work for your CEO and one additional team member. They will also participate in regular (typically monthly) check-in calls with Elemental’s Director of Innovation to update our team on the engagement and identify any opportunities for support. Members of the leadership team are expected to join our core events, complete the Equity In curriculum (8–10 hours) and participate in the Community of Practice sessions (6 hours).

The Strategy Track features a mix of 1:1 instruction with Elemental coaches and collaborative, live workshops with the group. We’ve found that somewhere between eight to ten companies is the sweet spot for the Strategy Track. At this size, the group is small enough such that coaches can intimately get to each team and business, while being large enough to enable meaningful feedback, collaboration and learning with your fellow group members.