April 2 - contest judging livestream

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Join us April 2 8am-11am Pacific Time

Livestream on Zoom https://zoom.us/j/4154115555


14 Teams From Around the World

We have many teams trying different approaches to the MPA concept. Everything from charging infrastructure in India to consumers in the US to renewable energy credits in Australia. 

Competing for the Best Product-Market Fit

Are your customers raving about you on social media? Share their great stories to help turn potential customers into loyal ones.

The Judges

  • Jigar Shah, President and Co-founder, Generate Capital, and founder of the first solar PPA company, Sun Edison
  • Billy Parish, CEO and Co-founder, Solar Mosaic, largest solar loan provider in the US.
  • Andrew Beebe, General Partner at Obvious Ventures and former executive at Suntech, the largest solar company
  • Claire Tomkins, CEO and Co-founder, Future Family, pioneer in applying fintech to  fertility.

Finalists

Auto finance panel livestream

JOIN MARCH 27 10AM

A panel of innovators with deep experience in automotive and other finance will be on the Zoom channel. 


https://zoom.us/j/4154115555


Panelists:


Chris Ballinger, founder and CEO of MOBI (https://dlt.mobi), a foundation pursuing blockchain solutions for mobility that has the support of many of most important companies in the automotive ecosystem. Chris has had many relevant roles in finance and mobility including 13 years as CFO of Toyota Financial Services.


Casey Harmon, co-founder of a new startup in the automotive industry. He spent five years as SVP of Corporate Development at a specialty automotive finance company, West Lake Financial (https://www.westlakefinancial.com) and almost 12 years at Toyota Financial Services. 


Jigar Shah, co-founder and Partner of Generate Capital (https://generatecapital.com), a specialty finance company that specializes in energy and sustainability. Jigar is an innovator with deep experience in finance. Notably, he started Sun Edison, the first company to create solar as a service. 



update (Dec. 11)

Here is an update on the contest - Deadline for proposals is this Friday Dec. 13

Sunil paul explains the contest

Sunil Paul is a well-known Silicon Valley entrepreneur and investor. Click on the video to hear his latest update on the contest.

About the contest

Speed EV adoption with the Mileage Purchase Agreement (MPA)

Accelerating the deployment of electric vehicles (EVs) is one of the most powerful ways to solve the climate crisis. EVs are expensive to purchase, but cheaper to operate than gas and diesel cars and trucks. The simple solution is to provide cash up front in exchange for payments as the vehicle is used, an idea called a Mileage Purchase Agreement. 


The Spring Free EV Contest is a project to increase the pace of EV sales using a Mileage Purchase Agreement (MPA).


Contestants will compete to validate or invalidate the product-market fit for the MPA idea. The most likely way we anticipate they will do so is by signing up consumers or fleets to a version of the program. The best evidence of product-market fit will win $10,000. 


If we achieve product-market fit, Spring Ventures will  provide up to $300,000 of debt capital to test the idea. Like other fintech innovations, if we can prove the economics for a few hundred vehicles, we can raise money for a few thousand, then tens of thousands, and ultimately millions of vehicles.

Spring Ventures and Sunil Paul

The contest is sponsored by Spring Ventures, the investment platform for Sunil Paul, the pioneering Silicon Valley entrepreneur who invented ridesharing, p2p carsharing, and spam control.

Origins of the MPA and this Contest

Sunil Paul developed the idea for the MPA over several years, inspired by the success of power purchase agreements (PPAs) in unlocking the value of solar power. He published an open call for entrepreneurs to pursue the idea on Linkedin on Nov. 12, 2019. Seeing interest among entrepreneurs, he published an open document to flesh out the idea and solicit feedback from the community. 


This contest is the next stage in the evolution of the MPA idea. You can be a part of this story to dramatically change the course electric vehicle adoption and help solve the climate crisis.