This I find very interesting on a number of levels. Firstly, I was very dismissive earlier in the year when TotalEnergies sold off their entire cleantech CVC portfolio. I assumed they were back-tracking on any energy transition commitments. It seems I was wrong, they had a change of strategy.  I've spoken to a number of start-ups who have participated in the TotalEnergies accelerator and the feedback has been pretty unanimously positive. Not every accelerator can say that.  Some good acquisitions from Total Energies here, securing disruptive technologies and companies early and at a good price. Which brings me on to my second point…..

We all know life as a founder is incredibly tough, physically and especially mentally. Tough on the founders, their families, and their bank accounts! There is for any entrepreneur the Risk/reward equation. You take a big risk, for the hope and expectation of a big reward. A big Exit. 

This is absolutely no criticism. I'm just curious.  Of course I can see many advantages to those companies who sold, but how did that stack up on the risk/reward expectations they had?  They clearly took the big risk in founding, and dealing with all of the many challenges of start-ups. For what seems like a modest exit. How do they really feel? Is the reward worth the risk taken? 

Great business by Total Energies. Good for the energy transition hopefully. As a founder I see the Pro's and Con's of selling now, but was it good timing? I'd be interested in their thoughts, and indeed yours. Please share.

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