For the other course Introduction entrepreneurship I’m reading a biography about Elon Musk. He is really interested in electric cars and the CEO of Tesla Electric cars. He also noticed some of the drawbacks of the electric car, for example charging those cars can take hours instead of a few minutes when using a gasoline cars. Electric car owners have to charge their car at home, but they will have a problem when the battery dies when they are not at home. Since there are hardly any public places to charge electric cars. At the moment there are 35.000 electric cars driving on the Dutch roads, however only 4600 places to charge an electric car. To increase the interest in electric cars, hours of charging needs to be reduced to a much shorter time and the number of chargers needs to be increased.
I was reading an interesting article about FastNed. They are well on track of delivering a solution for the slow charging of electric cars. They are rolling out fast-charge station throughout the country. Instead of the current, hours long waiting for a full charge, FastNed’s solution will have your car charged within 30 minutes. They are growing fast, on average one new ‘charging station’ is opened each week. Within a few years they want to have 200 charging stations running. But this is an expensive operation, each station costs about 200.000 euro. To fund this, they managed to get listed on the stock market.
They discovered this new market by combining already available solutions and resources in a clever way. This is a really interesting area for young entrepreneurs since FastNed’s competitors all failed. It’s a really tough industry to operate in, since there is still very little expertise. Since there is little expertise, everything is really expensive, this limits the flexibility for young startups. This is an really important area for entrepreneurship. Since it’s all about innovations to make the world more energy efficient and oil independent. FastNed is just an example of how big a new company in this area can grow within such a short period of time.
There are much more undiscovered opportunities in this field of entrepreneurship. This is why it’s an interesting area for new entrepreneurs, since opportunities are essential for entrepreneurial behavior
M. van der Burg