During the spring of 2018, I hit a personal goal of diverting more than 1 million pounds of organic waste from landfills using the pyrolysis process in retorts I had build. The materials consisted of landscaping waste, carpenter waste, real estate development waste, sawmill waste, and pallet waste. With products on shelves around Central Texas and delivering 400 pounds per week to Top Notch, I took a step back and asked myself, is what I have a valid business? If it was, could it be scaled with a team. Unsure I decided to enroll in the University of Texas Masters of Science in Technology Commercialization to kick Locoal my a startup into the next gear.
The UT-MSTC program in the McCombs School of Business is designed to identify potential technologies, determine if the model can be commercialized, and create a market plan for startups. The term we used in the program was called a “Quicklook ™” to do a deep dive on market analysis and customer behavior to determine if there is a problem in the market that can be solved more effectively and cheaper.
During our first day of class, I had the opportunity to present my vision for a commercialization strategy for Locoal to the class. Afterward I was approached by Miles Murray. Displaying great interest in the technology and sustainable impact, Miles had also assembled a highly qualified team with a diverse background of experiences. I asked Miles and his team to do a Quicklook™ on Locoal to determine if there was a potential to scale this business model.
After two weeks, the team returned with positive feedback and new pathways for success. I can still remember Miles’ response; “So it’s like printing money from trees.”
Check back next week same Locoal time, same Locoal hour.