25 Jun 2018
Incubating Ideas for the ‘Water Economy’
Tamin Pechet (MBA 2007) is managing firms that support and invest in innovative water and infrastructure resources.Topics:
Tamin Pechet (MBA 2007) founded and manages a platform of firms that support and invest in innovative water and infrastructure resources. He is CEO of Upwell, chairman of Imagine H2O, and founder of Banyan Water. In this interview, he talks about developing what he terms the "innovative water economy.”
“The water industry, and solutions to people's watering needs, is as old as civilization itself. If you look at the ancient ruins in Petra, you see little aqueducts that carried water to people who needed it. What's missing is how to bring to bear some of the innovative new solutions and technologies––things like data analysis, using the internet to carry signals of information, advanced treatment technologies––things like that, and how to build sustainable businesses that improve the way water and wastewater are managed.
“Every year, Imagine H2O solicits the best ideas for innovative water businesses and water policy from around the world to solve a particular water challenge, and then accepts the best ideas into an accelerator to advance them and help them reach commercial viability. We've had over 650 companies come through, and we have incubated 70. And now, it represents about one in every $10 of financing for innovative water businesses.
“Imagine H20 is now global—about a quarter of the entries, which are, in number, about 100 a year, come from other countries. There are certain countries that are particularly innovative with respect to water solutions—countries like Australia, Singapore, Israel––that have faced water crises and water needs at a more acute level sooner than some areas of America.
“There was previously no easy path to market for innovation in the water industry. It was very hard to find new customers and to find financing. Our program has convened the requisite stakeholders to a more innovative water economy.”
(Published June 2018)
Class of MBA 2007, Section A