AN INTERVIEW WITH ELLIOT COAD | CEO & CO-FOUNDER OF ECOLOGI

If you had to summarise your business, what do you do?

Ecologi’s mission is to simplify taking on climate and harness the power of collective action. 

We provide businesses and individuals the tools to supercharge their own contributions on their way to achieving net zero. 

We make major impact affordable, radically transparent, and thoroughly enjoyable.

In following the science, we lay out a viable path that we can take as ordinary everyday people, to reduce half of the world’s projected emissions by 2040.

What sparked the idea for your business?

One morning in 2019, I was on my daily commute to work and I was buying a coffee, which I had done a thousand times before. I began to wonder what good I could do if I spent that money on climate action instead. After doing some research I discovered that I could offset my entire carbon footprint for just £5 a month. By applying this concept on a wider scale I realised the loose change that millions of us have in our pockets could be used to make a huge impact on the planet, and so the idea for Ecologi was born.

With everything you are currently working on, what’s the most exciting thing?

We have some really exciting plans in place for this year’s Earth Day. I’ve just come back from being on-set where over 70 extras are being used in our campaign. Earth Day is like Christmas for climate and biodiversity – these important subjects are high on the agenda, and it works – businesses and individuals take action in droves, we just have to be there ready., We felt our Earth Day campaign last year with George the Poet was massively inspiring, and we want to continue to inspire this year so keep your eyes peeled!

What moment do you look back on as your proudest?

I’m lucky to be able to pick from quite a few. Most recently, Professor Brian Cox was a guest speaker at our annual general meeting which was a real ‘pinch-me’ moment and a measure of how far we’ve come as a company. Through our members we have also just surpassed 38 million trees planted and over 1.5m tonnes of CO2 reduced since our inception, which is an absolutely breathtaking achievement.

When first starting your business, what was the biggest challenge?

Myself and my wife Lucy were suffering from burnout in our previous jobs and tried to reclaim the time that we had missed, and it was during this time that the idea of Ecologi was born. We also had a newborn daughter, so the first year and a half of building the business from the ground up while caring for a baby as first-time parents was pretty challenging, it’s only through building a brilliant volunteer team that we broke through the eye of that storm!

Looking back, is there anything you’d do differently if you started now?

It’s hard to say, because the company wouldn’t be where it is now if we had done anything differently. However, I would definitely advise those starting a business to have as much stability in their life as possible. A business requires a lot of time and energy, the journey will be a lot easier if you have a solid foundation to begin with.

Would you consider your original business plan to be a good reflection of where you are now?

I remember sitting with the cofounders when we first got started in front of a spreadsheet forecasting our growth. We were encouraged to understand each month where they would come from to back-up our estimations for a potential investor. At the time it was so hard to imagine how these new customers would appear month in month out. It was a scary moment, but the key learning is you wont have all the answers until you start.

What are you aiming to achieve in the next 12 months?

We want Ecologi to become the first port-of-call for climate action. For businesses and individuals, we want Ecologi to be the go-to climate change tool and to continue to inspire more people to join the fight against climate change. In terms of the numbers we forecast going from planting 100k trees each day to 300k and funding another four million tonnes via other carbon reduction projects.

What advice/tips would you give to founders considering raising investment?

Perseverance and research in your target investment area is key, and it is important to surround yourself with supportive and knowledgeable people that can assist you in your growth journey. There are investor practices that can give you an idea if your business has the ability to succeed, such as running a crowdfunding campaign. These can often be beneficial and provide a real insight into the future of your business. And in November 2021, we actually ran a successful Crowdcube campaign, raising our funding target of £2m within 20 minutes of launching.

What would you consider your biggest source of motivation?

My fear of climate change started young, I remember being really small and expressing my worries about the planet to my mum. Being hyper aware of the damage we were doing to the planet from such a young age has motivated me to fight for a better future for our children.

What tools/networks/services would you recommend to someone looking to start a technology business?

Ecologi owes a lot to https://dffrnt.so – which provides assistance to everything a new startup needs. In having some consultation from one of their key staff, I was able to make Ecologi happen.

What top tip would you give to effectively network at events?

It may sound cliche, but the key is being yourself and reflecting your passion in your business and what it is you’re trying to achieve. This will help you to form meaningful connections and relationships with people you can rely on to support you throughout your journey.

When growing a business, in your opinion, what is the number one thing founders need to look out for?

In this era of the uncompromising consumer, it’s vital that you establish a company that is authentically ethical and purpose-driven. As your business and influence grows, these qualities need to be upheld and demonstrated through the work you do in combating social and environmental issues like climate change. The failure to do so will limit both your appeal to the increasingly socially and eco conscious consumer and your ability to grow further.

Who would you consider to be the next big game-changer coming through in your sector?

Our largest tree planting partner, Eden Reforestation, are gearing up to be responsibly planting 1 billion trees a day. Can you imagine that?! Climate change is bleak, but those who are on the ground fixing it are the heroes and are growing rapidly in numbers and starting to receive the funding. We can do this!

Where’s the best place to find out more about you?

You can find out more about Ecologi on our Website, Twitter and LinkedIn.