In this episode, Hall is joined by Brian Morin of the Soteria Battery Innovation Group. Soteria Battery Innovation Group is dedicated to enabling portable electric power without the risk of fires, no matter the circumstances. Their material architecture eliminates the spark on the inside of a battery that can cause fires. Soteria’s goal is to ensure that materials are available to every battery manufacturer with local production from a broad supply base so that every device - whether a hearing aid or an electric bus - can have a battery that is virtually impossible to self-ignite. 

Brian has over 200 international patents and applications on subjects ranging from advanced molecular metals to high-performance fibers to plastic additives. He has several billion dollars in sales of products based on his inventions, which are used in brands such as Nike, Head, Freescale Semiconductor, Intel, IBM, Rubbermaid, and others. He sees his strength as leading the commercialization of innovative technology.

In this episode, Brian shares his unique take on the state of investing in his sector. According to Brian, the market opportunity is immense. The industry is growing very quickly, averaging a 20-22% annual growth rate. He also speaks about challenges, both regulatory and technical that startups may have to overcome. While regulatory does play a role, you first have to deal with a very conservative market. The industry is very conservative about changing anything because of the risk of safety and the immense cost of safety. Finally, Brian talks about how Soteria fits into this landscape and what they are currently working on.

The terms sheet sets out the board composition.

For an early stage company, the board is comprised of three (3) individuals with one (1) representative being the CEO of the Company, one (1) representative being the Lead Investors or his designee (the Series A Director), and one (1) representative being an individual mutually agreed upon by the Lead Investor and the CEO of the Company.

For a growth stage company, the board typically consists of 5 persons, 2 chosen by the company, 2 chosen by the investors and a fifth person from the industry who provides domain knowledge.

For some investors, there’s also a board observer member named by the preferred share investor who attends the board meetings. The board observer can ask limited questions but does not have a vote in any board decisions.

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today!