Enabling businesses to make strategic sustainability investments
In the latest episode of the Tekpon SaaS Podcast, host Cristian Dina sits down with Saif Hameed, the founder of Altruistiq, to discuss how businesses can make strategic sustainability investments. Saif shares his journey of creating Altruistiq, a sustainability data management platform aimed at helping companies measure and reduce their carbon emissions.
Saif’s experience in sustainability spans over 20 years, including work in tree planting, waste management, and consulting. During his time running a farming business, he realized the need for accurate emissions data. Requests from companies for emissions data relating to the products they were selling highlighted a white space in the market. Saif recognized an opportunity to provide decision-grade emissions data to help businesses prioritize and make informed sustainability investments.
Saif categorizes the market into three tiers: sustainability leaders, followers, and adopters. Sustainability leaders are businesses that have already evolved sustainably and target sustainability-oriented customers. On the other hand, sustainability followers are businesses looking to transition and transform their operations to meet the challenges of the new age. These tiers aim to attract the Lifestyle of Health and Sustainability demographic, which consists of young, urban, and loyal customers.
One of the key insights Saif shares is the importance of building strong networks. Leveraging his experience at McKinsey, Saif had already established valuable connections by the time he registered Altruistiq. This network proved to be instrumental in acquiring the company’s first customers. Saif managed to secure four customers within five months, one being a former colleague’s company and another a friend from school. However, winning these customers required an extensive tender process in some cases.
Saif also shares valuable insights into the challenges and opportunities of scaling a company. He stresses the importance of setting up scalable systems and processes and maintaining clear and transparent communication across the organization. Saif believes in leading with culture, values, and principles and draws inspiration from the British common law system in decision-making.
In conclusion, Saif Hameed’s journey with Altruistiq demonstrates the power of leveraging networks, providing decision-grade emissions data, and fostering sustainability in business. Through their innovative platform, Altruistiq aims to empower companies to make strategic sustainability investments that benefit the environment and drive positive change in their industries and society as a whole.
