Water is fast becoming top of mind, joining oil as a precious resource, and carbon as something companies ought to pay attention to. A panel of water investors and experts discussed opportunities in water at the Investors’ Circle conference. My takeaway from the conversation is that water is a difficult (read: fragmented, inefficient, and complex) issue, but one that demands our attention and our intelligence. The panel featured David Zetland, a Postdoctoral Fellow in Natural Resource Economics and Political Economy at UC Berkeley, Brian Dunn, CEO of Growth Capital Services, and Dominic Kulik, founding Principal of Dakai Enterprises.
We just scratched the surface of the complexities of water. Panelists generally agreed the term “water market” is a misnomer, as we really don’t have any sort of market for water. Rather, monopolies rule, Zetland explained.
“Water is on a 10 year lag to alternative energy,” Kulik explained. Water is undervalued, and the system is inefficient. The field is begging for clear competitive mapping and analysis, but this does not exist as yet.
Water is difficult for angels to get involved in, Dunn commented. You need to get in early enough, or you’ll be dealing with project level financing.
A recurring theme at the conference was a focus on the local. Zetland stressed that water is a local issue – most decisions are made at the local level. For example, California has 1,200 water districts.
Kulik explained his interest in soft-path, rather than hard-path investment opportunities. Hard path describes infrastructure, which he characterized as conventional, energy and capital intensive. Soft path refers to alternative, appropriate, energy efficient solutions, which can mimic natural systems. When exploring the sustainable water investment opportunity landscape, Kulik is most drawn to the soft path solutions that treat water holistically, considering the full water cycle, such as local rainwater catchment systems for local land application and filtering water using natural elements like sand.
From what we know of the competitive landscape, water is dominated by giants like GE. But panelists encouraged entrepreneurs not to shy away, but rather to get in on the local and regional level, where most business happens, and where fragmentation and inefficiency have kept the giant players out. Dunn explained that water is “cliquish,” and biased towards engineers with the right name brands behind them. But water managers are risk averse because there is no penalty for incompetence in water management, Zetland noted, making the water space prime for breakthrough innovation in my opinion.
We’ve been dealing with economic and climate problems in a manner similar to the wise men in 
Denis Hayes
I have the pleasure of writing about my own company today!
How to find great interns: A few tips
At SVT we’ve taken the downturn as an opportunity to build our team and internal capabilities. We recently brought on 5 highly motivated and capable interns. Given the surplus of available work, and the desire many have to move into more sustainable/socially just career paths, I recommend taking this opportunity to find great interns. If you have a social or environmental mission as we do, I bet there will be a lot of interest. Here are a few tips to guide and enhance your search process based on my experience recruiting at SVT.
1) Define the role thoughtfully. Take the time to really think through what you’d like an intern to do, and lay out the expectations and tasks assigned. If it is unpaid, make sure you maximize other opportunities (school credit, networking, recommendation writing, etc). The more details you provide, the more likely a job seeker will apply. And the more likely that job seeker will be self-selected to fit with your organization.
2) Create a recruiting timeline and stick to it. How long do people have to apply? How soon will they hear back (this was tricky for us, but something I would try to improve on next time)?
3) Select strategic places to post your position. I have a list of recommended sites based on what we were looking for but this will vary depending on what you want. We were on a budget and chose not to pay for listings. We also wanted folks with whom our mission would resonate and be a motivating factor. Here is a list of where I posted and my thoughts on other major sites:
Free sites
Paid listing options
4) Select thoughtful interview questions. Here are a few I would recommend: