• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

U.S. says deals with Iran for safe Hormuz transit are prohibited

2

Surging Treasury yields expose a brutal truth: America has no margin for error on its $39 trillion debt

3

After a judge ordered Trump's name be removed from the Kennedy Center, president says it will 'soon be closed, probably never to open again'

1

U.S. says deals with Iran for safe Hormuz transit are prohibited

2

Surging Treasury yields expose a brutal truth: America has no margin for error on its $39 trillion debt

3

After a judge ordered Trump's name be removed from the Kennedy Center, president says it will 'soon be closed, probably never to open again'
TechBrainstorm E

Meet the Winner of Fortune’s Cool Companies Competition

By
Kirsten Korosec
Kirsten Korosec
Down Arrow Button Icon
By
Kirsten Korosec
Kirsten Korosec
Down Arrow Button Icon
May 17, 2016, 9:42 PM ET

Fortune went hunting on Tuesday for the coolest startup trying to turn sustainability into a business. After hearing the pitches and weighing the potential impact of their ideas, we’ve picked a winner.

Fortune invited four “Cool Companies” to Fortune’s Brainstorm E conference in Carlsbad, Calif. to showcase their businesses to the audience and judges. The entrepreneurs from the following companies participated: Eco-farming upstart Grove, solar-powered water cleaning system company PV Pure, sustainable fashion brand Tom Cridland and its “30-Year Collection,” and green modular builder Barcelona Housing Systems.

And the winner was…Grove!

Grove CEO Gabe Blanchet ended up hitting all the right notes on stage with a four-minute pitch that honed in immediately on what the company does: Help people grow their own fresh healthy food—and what it sells. To achieve that, it sells an aquaponic indoor garden that combines an aquarium filled with fish, LED lights, and a garden bed encased in a bamboo box to grow fresh herbs, veggies, leafy greens, strawberries and other crops.

You can even grow marijuana. But Blanchet, who co-founded the company with Jamie Byron, told Fortune the brand is really focused on teaching people how to grow food.

Grove introduced its product, the Grove Ecosystem, six months ago, and has already sold “hundreds” of units, Blanchet says. Grove is on pace to rake in $1 million in sales before the end of year, he says.

Get Data Sheet, Fortune’s technology newsletter.

The crux of his pitch:

Our business model is pretty simple. We ship the ecosystem for $4,500 directly to homes, restaurants, offices, and schools fully assembled and ready to grow. Every month or two our customers buy curated seeds, fish food, and supplies through a mobile app called Grove OS. Grove OS communicates with sensors right to the ecosystem to control the efficient LED lights, the fans, and the pumps. We get all the data back from each ecosystem as well. Grove OS gives you a green thumb. It literally teaches you how to farm. It’s like Farmville, but in real life.

 

The three judges: Ilan Gur, founding director of Cyclotron Road; Dhiraj Malkani, investment director at SAEV; Abe Yokell, a partner RockPort Capital Partners; all supported the Grove’s idea and business plan. But they had one concern: the cost of the company’s product.

Blanchet believes the company can eventually achieve a price of under $2,000, which he says will help it appeal to the mass market. The company is already exploring financing options to customers beyond the 12-month payment plan that’s currently available, Blanchet told Fortune after the competition.

It could be similar to what companies like SolarCity did to make solar panels more accessible such as lowering the annual interest rate or extending the length of the financing period.

“I think there’s a megatrend here: solar and helping people grow their own food is turning people from consumers into producers,” Blanchet says. “Once people are producing value, the financing options become really interesting.”

The company that uses fish to manage vegetable gardens:

Partnerships with companies, some of which approached Blanchet during Brainstorm E, could also help lower the price of the unit through distribution.

“We’re not in a big rush to do this, but it is something over time that could really help drive scale,” he added.

The data component is another compelling piece of the puzzle for Grove. “This is a data-driven company,” Blanchet told Fortune, noting that its 16-person team includes Apple, Bose, and MIT alumni. “The most interesting data we’re seeing is around agriculture, what systems are people setting, what types of crops, and the outcomes they have.”

Blanchet says eventually the company will be able to use the data to help people tweak their systems to achieve different results with their food such as a sweeter cherry tomato.

“We’re inspired by what Elon Musk and Tesla have done,” Blanchet says. “They brought something that’s new to people, the electric car, and took a no holds barred approach, especially with the Model S. We want to do the same.”

About the Author
By Kirsten Korosec
See full bioRight Arrow Button Icon

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

Low-budget films from YouTubers beat ‘Star Wars’ heavyweight at the box office — ‘we’ll probably look back at this as a real turning point’
Arts & EntertainmentMovies
Low-budget films from YouTubers beat ‘Star Wars’ heavyweight at the box office — ‘we’ll probably look back at this as a real turning point’
By Lindsey Bahr and The Associated PressMay 31, 2026
2 hours ago
AI will make the ‘tech bro’ class even richer, Nobel laureate Joe Stiglitz says, just as it can take your job
AIJobs
AI will make the ‘tech bro’ class even richer, Nobel laureate Joe Stiglitz says, just as it can take your job
By Catherina GioinoMay 31, 2026
3 hours ago
peter thiel
AIskills
Forget the STEM safety net. Peter Thiel warns AI is a bigger threat to technical roles than to creative thinkers
By Jake AngeloMay 31, 2026
3 hours ago
CEOs blame AI for layoffs, but an MIT professor says it fits a long-running pattern to find a cover story. ‘They’ve been saying that for 20 years’
AIthe future of work
CEOs blame AI for layoffs, but an MIT professor says it fits a long-running pattern to find a cover story. ‘They’ve been saying that for 20 years’
By Marco Quiroz-GutierrezMay 31, 2026
4 hours ago
Experimental pill nearly doubles survival time for people with advanced pancreatic cancer. ‘I actually started crying’
HealthHealth
Experimental pill nearly doubles survival time for people with advanced pancreatic cancer. ‘I actually started crying’
By Lauran Neergaard and The Associated PressMay 31, 2026
5 hours ago
Special operations commander says while AI could determine targets, humans must be sure ‘it’s going to deliver violence only where we intend it’
AIMilitary
Special operations commander says while AI could determine targets, humans must be sure ‘it’s going to deliver violence only where we intend it’
By Konstantin Toropin and The Associated PressMay 31, 2026
5 hours ago

Most Popular

U.S. says deals with Iran for safe Hormuz transit are prohibited
Politics
U.S. says deals with Iran for safe Hormuz transit are prohibited
By Jack Wittels and BloombergMay 30, 2026
1 day ago
Surging Treasury yields expose a brutal truth: America has no margin for error on its $39 trillion debt
Economy
Surging Treasury yields expose a brutal truth: America has no margin for error on its $39 trillion debt
By Shawn TullyMay 30, 2026
2 days ago
After a judge ordered Trump's name be removed from the Kennedy Center, president says it will 'soon be closed, probably never to open again'
Law
After a judge ordered Trump's name be removed from the Kennedy Center, president says it will 'soon be closed, probably never to open again'
By Collin Binkley and The Associated PressMay 30, 2026
23 hours ago
After Blue Origin rocket explosion, NASA's entire moon exploration program depends on SpaceX for now as Musk eyes blockbuster IPO soon
Innovation
After Blue Origin rocket explosion, NASA's entire moon exploration program depends on SpaceX for now as Musk eyes blockbuster IPO soon
By Jason MaMay 30, 2026
1 day ago
Damn the torpedoes — More ships are quietly slipping through the Strait of Hormuz as helicopters scare off Iran's fast-attack boats
Energy
Damn the torpedoes — More ships are quietly slipping through the Strait of Hormuz as helicopters scare off Iran's fast-attack boats
By Jason MaMay 30, 2026
1 day ago
Meet the Black women on Fortune's Most Powerful Women list shaping business leadership
MPW
Meet the Black women on Fortune's Most Powerful Women list shaping business leadership
By Cheyann HarrisMay 29, 2026
2 days ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.