Nydia Godoy, a 28 years old Mexican woman, co-Founder and CFO of Inventive Power was chosen as YABT's entrepreneur of the month. In addition to reaching TIC Americas Finals in 2012, Nydia was the only female entrepreneur selected to take part in the Brilla Mexico Initiative - an online platform, which aims to promote the responsible use of energy to the Mexican citizenship. Nydia works with the rest of Inventive Power's team in Zapopan, Guadalajara.
Only four years ago, Nydia met her current partners, Aldo Agráz and Ángel Mejía, who were just finishing their Masters degree in energy engineering. At that time, they were looking for a partner with whom they could create an alternative energy initiative in their home state, Guadalajara. This is a short story of how Inventive Power was first created.
Inventive power is a company that proposes alternative sources of energies. An important characteristic in Inventive Power is that the design, development and production of their solar panels are all made in Mexico. Nydia explained us how Inventive Power help industries to reduce their operating costs by installing his Solar Concentration technology for water heating, steam generation or drying at a lower cost than using Gas, Diesel or Fuel Oil. Their technology, the Power Trough 110, is a Parabolic Trough Solar Concentrator, which generates thermal energy between 60-250 ºC save up to an 80% of users' boiler fuel consumption.
The saving percentages depend on their clients' electrical system. These are calculated using the NASA metrics and considering how old is the fuel, its efficiency, among other characteristics. The Power Trough 110 is their second prototype that Inventive Power team launched. However, they hope to get done with the third prototype by the end of 2014 in order to optimize the operating prototype.
Over the past three years, Inventive Power has participated in a wide range of international competitions. In 2012, Inventive Power competed in the finals of TIC Americas âŽ¯this edition was held in Cartagena Colombia within the Framework of the VI Summit of the Americas. In 2013, Nydia received a scholarship to participate in our Eco-Entrepreneur Program –a support program for aimed at sustainable start-ups developed by YABT and PepsiCo in cooperation with Oxford University. Moreover, Inventive Power was recognized by the Inter-American Development Bank as the Best Green Business of 2013 and was invited to participate in the Intel Global Challenge Finals at Berkeley University. Recently, CNN in Expansion selected Inventive Power as one of the best10 start-ups with for 2014.
Nydia's confessed us that she is now living at the peak of her career. However, she did not become an entrepreneur when she founded Inventive Power but by failing twice in bringing in a business. She never gave up and managed to overcome all obstacles by getting inspiration from her family. Nydia is the only daughter and youngest of four – each one of them with their own Business. Since she was a kid, businessmen, starting with her parents, surrounded her; which motivated her to study an Accounting degree to manage her own Business after finishing school.
Once she graduated, she starting working as an auditor at PwC. Soon after starting her career at a multinational, she realized that path wasn't the one she dreamt of. Later on, Nydia got a job offer to work with students to accelerate their businesses at Panamericana University Incubator. Meanwhile, Nydia worked in pushing forward her own entrepreneurial initiatives: the first one being a website for buying-and-selling furniture, the second one a real-state website. None of these two initiatives borne fruit but her job allowed her to meet her two future partners to later create Inventive Power.
Nydia told us that when she met Ángel and Aldo, an interesting and interdisciplinary match occurred: they both represented the innovative side of Inventive power, while she contributed with her know-how in accounting and finance – key elements for turning a microenterprise into a sustainable business.
After taking on her first client, Nydia told us how Inventive Power's clients portfolio have gone from 9 clients in 2012 to 18 in 2014. Moreover, Nydia told us with great enthusiasm that Inventive Power is planning to work in 110 additional projects with local and international businesses, including Nestle. Her personnel has also increased from 3 in 2010 up to 15 employees and 15 independent salesmen this summer.
In the short run, Nydia seeks to implement her strategy of opening new branches in the center and northern part of Mexico. In the long run, she hopes that Inventive Power will consolidate itself as a leader in the renewable energy market in Mexico and expand Inventive Power's services throughout Latin America.
Finally, we seized the opportunity to ask her to give a piece of advice to all young entrepreneurs or young people wishing to start their business. Nydia told us: "[young people] have to be brave enough to undertake that idea that in one's head without fear. Many of us are scared of not knowing how to begin with a microenterprise or to stop being an employee. The sooner you start, the sooner you will learn from your mistakes, and the sooner you will capitalize that idea. At a first glance, it seems hard to become an entrepreneur but it is a learning process (…) I wouldn't call the first try a failure but a learning process to embrace those lessons and start all over again."