Acelerex

Synopsis

Headquartered in Boston, Massachusetts, at the Cambridge Innovation Center (CIC), Acelerex was leveraging technologies, such as big data and grid analytics, Artificial Intelligence (AI) forecasting tools, cloud computing, real time control systems, energy storage testing software, monitoring, and blockchain smart contracts, to provide consulting expertise and software-as-a-service (SaaS) products to a diverse group of stakeholders, including state and municipal policymakers, regulators, grid developers, utilities, and investors. Demand for Acelerex's services had outstripped supply, and, within a year, the company had grown to 14 professionals, with advanced degrees in multiple technical domains. Moreover, the company had made a profit in its first year, had achieved proof of concept and minimum viable products for all of its targeted services, and made sales along all business lines. But, cash flow had been a constant challenge because of slow-paying clients and rising fixed costs, while talent development had proved a "headache." Acelerex was Johnson's first start-up after 25 years of experience working with major firms and research institutions across all segments of the power sector, including generation, transmission, distribution, consumption, and storage. Having doubled in size for four quarters, he had set himself the challenge of doubling in size again, but he was going to take a year to do it. He was confident there was enough business in the USA to support this rate of expansion and that he could hire the team to deliver it, but was uncertain whether he should raise funds to resolve the cash flow pressure. He was also being asked to do more and more work in China, India, and Africa; did this make sense? And to add to his list of opportunities, he had been asked to provide similar services to transport, natural gas, and water networks.

Copyright:

2019

Book Details

Book Quality:

Publisher Quality

Publisher:

Harvard Business Publishing

Date of Addition:

06/26/21

Copyrighted By:

HBS

Adult content:

No

Language:

English

Has Image Descriptions:

No

Categories:

Nonfiction, Business and Finance

Submitted By:

Bookshare Staff

Usage Restrictions:

This is a copyrighted book.