CoPower is a company that is bringing new innovative solutions to the clean energy market. The planet that we call home is dying at an exponential rate and we need more people coming together to bring solutions to create a better, cleaner world. Copower is doing just that by providing financing to clean energy projects across Canada. We sat down with the co-founder of Copower David Berliner to discuss clean energy and building a business.
What does CoPower do?
CoPower provides financing to clean energy and energy efficiency projects across Canada. We do that by raising green bonds from individuals and other investors to make investments on the environment. We put the planet in our portfolio and we do that by using a digital platform. So far, we have raised over 25 million dollars in loans to go towards community projects.
What inspired you to start CoPower?
I have always had an interest in the environment. When I finished my masters, it was almost a natural course for me to continue working in clean energy. I wanted to bring new innovative solutions to the clean energy market so we can create a cleaner, more sustainable and better world to live in for the future generations ahead of us.
What was your goal when you created CoPower?
When we first started CoPower we had two goals in mind. The first one being to grow the company as big as we possibly can and raise the most amount of loans for clean energy. The second thing we aimed to do was grow the clean energy efficiency market by bringing new solutions to the table. We wanted to show people that they could easily have a positive impact on the environment while also getting a return. We wanted to grow the business but also grow the market to raise awareness and inspire others to do the same.
Were there any major changes the company had to go through?
We were constantly making changes in the beginning. Our first business plan talked about connecting clean energy products with investors via a platform. Over time, we had different iterations of what the right product would look like. We had one main idea in mind and that stayed the same throughout the vetting process. What was constantly changing was how we approached that main idea. It was constantly evolving.
What was the deciding factor that pushed you to starting CoPower?
It was not one moment, it was a series of decisions that lead up to this point. We first had the idea and I then discussed it with my family and other entrepreneurs I knew. I tried to share my idea with as many people as possible to get their perspective on it and to validate it. I was nervous at first because I did not know if this was a good idea or not. Its scary trying something you have never done before because there is a constant fear of failing. Organizations like PME were there to encourage us and be our early on supporters. PME was the first place we submitted a business plan too because we had to meet a deadline. This was extremely valuable because we were then able to get feedback and constantly evolve our ideas to grow it into the business it is today.
What is the number one advice you would give to other entrepreneurs like yourself?
Surround yourself with the right people. Wither it be mentors, advisors, coworkers, family etc. There is only so much you can accomplish by yourself. You need to have the right people around you to help you through challenging decisions or personal conflicts you might face. You should not try to deal with everything by yourself because it’s going to be overwhelming. Having the right people around you that will support you but also challenge your ideas will allow you to grow your business and evolve your ideas. Make sure your team is consisted of people you trust and get along with. These are the people who you will be spending a tremendous amount of time with and the people who are going to be responsible for building your vision.
What kind of risks did you need to take
As a founder, you always need to take calculated risks. The first biggest risk we took was joining PME. In the early stages of developing your business the uncertainty of wither, the business will succeed, or fail is one of the scariest things. Once you get past this and take the big step forward everything else will follow. After that, we started taking one small risk after another. It’s not about taking huge leaps but small steps and taking one tasks at a time in order to move forward.
- What were the biggest challenges you faced and how did you over come them?
The biggest challenge I faced starting out as a founder was not feeling confident in what I was doing. I was new at this and it was a scary feeling. It was more of a self-reflecting one but having a network of people you can share your ideas with helped a lot in boosting my confidence and pushing me in the right direction to start CoPower. Discussing your ideas and gaining insight from different perspective is extremely beneficial because it will help you validate your ideas and give you that push you need to start your own business.
Starting your own business is not easy. It’s very scary trying to create something all by yourself. Getting past this fear of failure is a big step that every founder needs to make in order to get things moving. Getting feedback and asking for help from the right people will help you evolve and ignite your ideas giving you the push you need to start your own business.