David Miller, SB ’90, SM ’91, PhD ’07
Co-founder and Managing Partner, Clean Energy Ventures
From MIT and Back Again
How can citizens, entrepreneurs, and engineers come together to achieve a clean energy future, especially in the absence of federal government action? This remains the central focus of David Miller’s climate tech journey.
When David came to MIT in 1986 as an undergraduate, little did he know his freshman advisor, John Sterman, co-faculty director of the Sustainability Initiative, would come to play such a pivotal role, not only in his education, but also in his career trajectory.
After earning his bachelor’s and master’s degrees in computer science and engineering from MIT, David founded several companies, including Quantum Telecom Solutions, which he eventually sold to Lucent Technologies. But what should he do next?
“After I sold my company, I came to the realization that more than anything else, climate change was going to define the 21st century, and I wondered what I could do about it. Clean energy seemed like the answer.”
But to make the most impact, David knew he needed to learn more.
Looping Back to the Sustainability Initiative
“I enjoyed MIT as an undergrad and grad, and missed it when I was away. So, I couldn’t think of a better place to go.”
Ironically, the MIT professor he returned to in 2005 was John Sterman, who was an early champion of David. Reunited, the two worked together on a system dynamics model of clean energy. “I wanted to understand the dynamics of investment decisions, management decisions, external factors, what controls their rate of success, what influences their rate of growth. How can better decisions be made?”
I came to the realization that more than anything else, climate change was going to define the 21st century, and I wondered what I could do about it. Clean energy seemed like the answer.
At MIT’s Lab for Energy and the Environment, David studied the utilization and commercialization of distributed generation and energy efficiency measures. His doctoral dissertation examined the impact of a variety of management and investment strategies and public policy initiatives on the success of new clean energy ventures, and led to the development of CleanStart, his clean energy startup simulator.
In 2005, before he even finished his PhD, David launched a cleantech angel investment group, Clean Energy Venture Group, which mentored and invested in early-stage clean energy companies and solutions that had potential to help mitigate climate change. After earning his doctorate, he continued his clean energy journey with MIT, as a Sloan research affiliate, teaching and mentoring students interested in clean energy entrepreneurship.
By 2017, David was well-equipped to co-found a mission-focused venture capital firm—Clean Energy Ventures. The clean tech firm focuses on investing in companies commercializing disruptive advanced energy technologies and business model innovations that can achieve significant scale by taking advantage of market-driven forces to address global climate disruption.
David Miller at the New England Venture Summit
“If what you want as an investor are financial returns—with a reasonably long-term perspective–then I believe the best investment you can make is in companies solving for clean energy and climate change,” David says. “It’s the biggest problem we need to solve for our economy and society. Mistakenly people pit these two against each other, but I think it’s a false choice. They are one in the same. And those who solve it will be rewarded financially, and in other ways as well.”
The Journey Continues
David has come a long way since his freshman year, but he is still continuing his journey with MIT and the Sustainability Initiative, these days as an Advisory Board Member and senior lecturer.
“I really enjoy working with the undergrads and giving back to the next generation in any way I can,” he says. “When I was an undergrad, it was so important to be mentored.”
Looking back, David doesn’t know where he’d be now without MIT. “I sure wouldn’t be where I am today,” he says.
MIT is intrinsically linked to everything David has done. Reflecting upon his connection with the Sustainability Initiative and his work with John Sterman—who has been, and continues to be, a mentor—David is honored and happy to carry on his affiliation. He continues to look for ways he can be supportive of them both.
