Connectd

‍What is Iris Solar?

Iris Solar Technology offers an innovative, off-grid solar power generation and tracking device. The unit is fully encapsulated, and utilises dual-axial tracking to boost output by up to 40% compared to fixed panels. We successfully closed our first funding round, which gave us confidence to launch our next round in Q3 of 2024.

Most importantly, we are an eco-friendly tech company striving to provide electricity to people that need it most and reduce carbon emissions in the process. We believe that our philanthropic identity and mission help us stand out on Connectd.

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How did you find out about Connectd and what made you decide to join the network?

It was word of mouth; our CTO, who I knew from my career in finance, had attended some of Connectd’s webinars and events which had really impressed him. I initially looked into the events, but quickly saw that Connectd covered so much more for early-stage founders like myself including facilitating connections with investors, finding NEDs and advisors, job postings and even legal documentation. Once I understood the whole package Connectd provided, I joined up in mid-2023. We quickly 'got connected' with people who now make up a key part of our team. As a result of these connections, we have grown at an exponential rate.

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Tell us a little more about connecting, and working with, Portfolio Professionals from within the Connectd network

Undoubtedly, the most valuable aspect of our membership has been the ability to post roles. For a long time, Iris Solar was basically just me; I ideated and developed the product on my own, and like many solo founders, I needed to fill some skills gaps, specifically by finding professionals with an engineering background.

Veteran engineers Chris Horne and Richard Earl fit the bill perfectly, and we also found three NEDs who joined to provide sales, marketing and fundraising support. It’s been an incredibly positive experience; the professionals we've found through Connectd have provided me with invaluable guidance and support, and really helped to strengthen the company.

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What makes Iris Solar a great startup to work with?

For the NEDs who have joined us, I think getting involved at the start was attractive, as was the fact that clean energy is central to combating climate change. The two individuals who have joined as engineering consultants are really enjoying helping to create an innovative and exciting product, whilst only having to commit to two or three days a week.

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What was the Genesis for Iris Solar? Was there a light bulb moment?

Back in 2019, I was working in Investment Banking whilst also doing a distance learning product-design course, and had a really weird dream about solar panels resembling flowers that track the sun; a strange fusion of technology and nature! I looked into whether there was anything similar and there weren't a lot of off-grid solar tracking units out there. Initially, it wasn’t a business idea and it was parked while I made a slow exit from finance.

A little while after this, I did some financial consulting work for a friend of a friend who wanted to calculate the solar yield on land he owned in Somalia. I helped him work out the figures and it really made me realise how much the sun shines (outside of the UK!) and the global solar potential.

In the summer of 2023, I finished my most recent finance consultancy role and felt that it was the right time to start building Iris Solar.

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What are the next steps for Iris Solar?‍

It’s a very exciting time right now - the kickstarter campaign launched at the end of August 2024, then the seed funding round will happen off the back of that. The product will ship in summer 2025 to those who have invested via our kickstarter. In the meantime, we have lots of development work to get the product ready, and from early next year we’ll be putting our energies into marketing.

Our initial product launch will be the T1 unit, which is light and portable, and charges phones, laptops and devices as, universally speaking, these are the things most people possess. Further down the line, we'll look at producing bigger units to power appliances and other domestic needs, if the market’s there and if it’s profitable. Or we may simply develop different versions of the T1; for example, we could make a cheaper version of it for deployment in developing countries as a type of a poverty alleviation tool. The product has vast potential and I’m excited to see what the future holds for us

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Our Trustpilot reviews...

I'm delighted to have joined Connectd, a platform that brings together start-ups, investors and advisors/NEDs – the latter being my interest. Having left full-time employment, I became a founding Non-Executive Director of a Community Interest Company and a Trustee of a local charity. I had also been looking for additional Non-Executive roles when I was introduced to Connectd. I was impressed by the sophisticated nature of the ecosystem, which enables searches for roles through detailed filters, as well as providing training through the NED Academy, help with CV writing, mentoring, template documents and other resources. Connectd also guarantees a placement with a business.

An additional feature of the platform is the Connectd Investor Community, where investors can interact, conduct due diligence, share deal-flow and learn together. The functionality allows like-minded investors to connect, with separate groups for each; to share deal flow (not just with companies on the platform) and to co-invest; to access partnerships such as Crunchbase membership and Vauban discount codes; and to create public or private groups.

I'm now working with a start-up that I was introduced to through Connectd, initially pro bono. There's a lot going on and a lot to do - we're raising funds and there's an exciting future in prospect!

Steve Hutchings