Introducing Nicholas Seet from Undesert Corporation
Q: Could you introduce yourself and tell us about your startup, Undesert?
A: Hi, I’m Nicholas Seet, CEO of Undesert Corporation. We’ve developed a unique patented technology capable of purifying the world’s dirtiest water, specifically produced water from the oil and gas industry, into clean water and dry salt. This technology addresses a critical issue: for every gallon of oil extracted, six to eight gallons of wastewater are generated. Currently, this wastewater is either pumped back underground, causing earthquakes, or dumped into the ocean.
Our journey with this technology began with our focus on solving drinking water problems, especially in arid regions like New Mexico and the Navajo Nation. However, the COVID-19 pandemic forced us to pivot and explore other applications for our technology, leading us to the accelerator program.
Through MassChallenge, we learned about the water challenges in the oil and gas industry, as we were paired with Shell Corporation. Surprisingly, oil companies are also major water-handling companies, dealing with vast amounts of toxic wastewater filled with drilling chemicals. Our technology stands out because, unlike other methods which are energy-intensive and rely on vaporizing water, ours operates below the boiling point, relying on evaporation. We’ve modernized an ancient technique, originally conceived by Aristotle, by using a falling film of water for evaporation and a coiled tube for condensation. This innovation has earned us two U.S. patents and two international patents, setting us apart in the field.
Motivation Behind Joining MassChallenge
Q: What motivated you to join MassChallenge, and did it offer a different perspective for your business?
A: The main reason we joined MassChallenge was due to the unexpected challenges posed by the COVID-19 pandemic. Our primary market, which focused on drinking water, suddenly became unviable. In such a situation, adapting your business strategy is crucial, and an accelerator program like MassChallenge offers the perfect platform for this.
Being part of MassChallenge was about more than just addressing our immediate challenges. It was an opportunity to collaborate and learn from a diverse group of entrepreneurs from around the world, each with unique insights into various industries. This environment fostered what I call ‘collisions of ideas’, where you gain perspectives on different business aspects you might not have considered before. For instance, exploring if our business model could incorporate subscription services or AI. Such ideas are difficult to conceive in isolation, but an accelerator environment stimulates this kind of innovative thinking.
The Application Process for MassChallenge
Q: Can you describe the application process for MassChallenge?
A: The application process for MassChallenge was pretty straightforward. It involved writing what is essentially an executive summary and recording a video presentation. The video didn’t need to be professional-grade; it was more about speaking to the camera, like on a Zoom call, and articulating your vision as clearly as possible. It was okay if the ideas or technology were still in rough stages; that’s often expected at this point. The key to being accepted, in my opinion, is to demonstrate an open mind. It’s crucial to show that you’re not just there to teach others your way, but that you’re also willing to listen, learn, and be coached. Being coachable is a critical quality for any entrepreneur.
Q: Were there any interview sessions as part of the application?
A: Yes, there were follow-up questions and interview sessions. Applicants are expected to give their best attempt at a PowerPoint presentation, similar to what one might do for a customer, investor, or potential employee. This presentation is an opportunity to showcase your team’s synergy and understanding of your business. In my case, my co-founder, who is the technical brain behind our technology, could delve deep into the tech aspects, while I handled the business side of things. Having a co-founder is immensely beneficial. Entrepreneurship involves wearing many hats, and tackling this alone is challenging. A co-founder not only helps share the load but also brings a different perspective, which is vital. While finding a co-founder during an accelerator is possible, it’s often more challenging since most participants are already committed to their ideas.
Structure and Experience of the MassChallenge Program
Q: What is the structure of the MassChallenge program and how does it operate?
A: MassChallenge, unlike some other accelerators, is a significant, equity-free program. This means they don’t provide funding but also don’t take any equity from the participating startups. This contrasts with accelerators like Techstars, where you might receive funding in exchange for a portion of your company’s equity. The decision to join an accelerator like MassChallenge involves serious consideration. As an entrepreneur, you have to weigh the benefits of having their support and recognition against the potential of growing independently. For a company like Undesert, which requires substantial capital for large-scale projects, these decisions are pivotal.
MassChallenge runs for three months. While part of the program involves revisiting the basics of running a company, it’s also about relearning with an open mind. Even familiar topics can offer new insights. The program provides valuable branding advice, exposure to different speakers and mentors, and opportunities for one-on-one interactions that wouldn’t typically be available. It’s a chance to connect with mentors and advisors, which can be crucial for a startup’s growth.
Q: Does MassChallenge include networking events?
A: Yes, there are numerous networking opportunities. How much you benefit from the program depends largely on your level of engagement. It’s somewhat akin to the difference between living on a college campus versus taking an online course. The experience varies significantly based on your approach. Those who gain the most from MassChallenge are typically very humble, open-minded, and eager to learn and meet new people. It’s about embracing new ideas and connections to enrich your startup’s journey.
Significant Milestones Achieved During MassChallenge
Q: What were some of the significant milestones you achieved during the MassChallenge program?
A: One of the key achievements from our time in MassChallenge was gaining two valuable advisors who are still with us today. In the fast-paced entrepreneurial world, maintaining engagement with busy professionals is a notable success. We connected with Tom, an expert in the oil and gas industry, and significantly, our relationship with Shell evolved substantially. This development led us to join the Shell GameChanger product accelerator, a specialized program within Shell designed to tailor products to their specific needs. Participating in the Shell GameChanger was a pivotal moment for us. It enabled direct engagement with Shell’s engineers, allowing us to refine and customize our technology for their operations. This level of customer interaction and the ability to adapt our product to meet specific client needs has been instrumental in our startup’s growth and product development.
Challenges Faced During MassChallenge
Q: Did you encounter any challenges during the MassChallenge program, or was there anything you felt was missing from the program?
A: The primary challenge we faced during MassChallenge was what I’d describe as the ‘drinking from a firehose’ phenomenon. The program is so full of activities, meetings, and opportunities for connections that it can be overwhelming. It’s virtually impossible to participate in everything and meet everyone. My advice to future participants would be not to be too hard on yourself if you miss some meetings or potential connections. It’s important to remember that you can’t do it all. The key is to do your best and make the most of the opportunities you can engage with, rather than worrying about what you might have missed. This approach helps in managing the intensity and pace of the program without unnecessary stress.
Current Status and Future Milestones of Undesert
Q: What is the current status of Undesert, and what are your key goals for 2024?
A: After our experience with MassChallenge and the Shell GameChanger, we faced the challenge of restructuring our company to focus on the oil and gas sector. This included rebranding and becoming experts in a field we had only recently learned about. To facilitate this transition, we joined Techstars, which helped us refine our business model and perfect our elevator pitch for potential customers and investors. At Techstars, we expanded our network of advisors, including professionals from the oil and gas industry. It’s important to note that while Shell is a significant player, the industry is vast, and we’ve since brought on advisors with extensive experience, such as Morris Clark, a former CFO of Occidental Petroleum.
Currently, our focus is on navigating the industry pressures, especially from regulators aiming to stop the disposal of wastewater underground. We are closely involved with industry movements, like New Mexico’s recent announcement at COP28 of a $500 million water pre-purchase. This initiative is similar to vaccine pre-purchases for COVID-19. The state is encouraging technologies that can purify underground wastewater for beneficial reuse, such as for hydrogen generation. We are actively pursuing opportunities in this area to expand our reach and impact.
Advice for Founders Applying to MassChallenge
Q: Do you have any advice for founders considering applying to MassChallenge?
A: My advice to aspiring founders is to maintain resilience and not be discouraged by rejections. The acceptance rates for top-tier accelerators like MassChallenge or Techstars can be daunting, perhaps close to a 100 to 1 ratio. If you apply to enough programs, chances are you’ll secure a spot in at least one. Rejection is a common part of the journey, even more so when seeking venture capital investment. The key is to persist and keep applying. Each application is a learning experience and brings you closer to your goal. It’s crucial to remember that getting into an accelerator isn’t easy, but with determination and repeated attempts, you can increase your chances of success.