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

Trendingnow

1

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

2

‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion

3

'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic

1

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock

2

‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion

3

'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
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
Add Fortune on Google for similar content.

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
Add Fortune on Google for similar content.

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
  • TikTok icon
  • YouTube icon

Latest in Tech

kalshi
CryptoKalshi
Kalshi’s ‘chronically online’ war room figured out World Cup virality — and realized AI might be bringing back the monoculture
By Nick LichtenbergJuly 21, 2026
3 hours ago
fl
North AmericaElections
Trump-backed hopeful to succeed DeSantis unveils plan to protect local water, electricity from data centers
By Matt Brown and The Associated PressJuly 21, 2026
4 hours ago
Bolt CEO Ryan Breslow
CommentaryHuman resources
The CEO who fired HR was right. About the wrong thing.
By KeyAnna SchmiedlJuly 21, 2026
4 hours ago
‘We all failed’: Former Disney CEO Michael Eisner on Hollywood, video games and the big question of IP
Arts & EntertainmentDisney
‘We all failed’: Former Disney CEO Michael Eisner on Hollywood, video games and the big question of IP
By Joshua HongJuly 21, 2026
4 hours ago
Jersey Mike's Subs restaurant.
C-SuiteCFO Daily
Jersey Mike’s tests how far investors will stretch on restaurant IPO valuations
By Sheryl EstradaJuly 21, 2026
4 hours ago
all five founders of SkyPilot pose for a photo
Startups & VentureTerm Sheet
SkyPilot, from Databricks’ cofounder, raises $20M to be the Switzerland of AI compute
By Lily Mae LazarusJuly 21, 2026
4 hours ago

Most Popular

Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
Success
Mark Cuban says he has the solution to growing income inequality, and it's to reward every employee—from CEO to janitor—with company stock
By Sasha RogelbergJuly 20, 2026
22 hours ago
‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion
Success
‘I want to die broke’: Billionaire philanthropist Denny Sanford dies after giving away $4 billion
By Sydney LakeJuly 20, 2026
1 day ago
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
AI
'Dr. Doom' Nouriel Roubini says we're headed for universal basic income or 'some form of socialism' as AI revolutionizes work—He calls that optimistic
By Jason MaJuly 18, 2026
3 days ago
Current price of silver as of Monday, July 20, 2026
Personal Finance
Current price of silver as of Monday, July 20, 2026
By Joseph HostetlerJuly 20, 2026
1 day ago
It’s not just Taco Bell lettuce and possible glass in Pillsbury rolls: Food and drink recall events reached a 6-year year-over-year high
Retail
It’s not just Taco Bell lettuce and possible glass in Pillsbury rolls: Food and drink recall events reached a 6-year year-over-year high
By Sasha RogelbergJuly 20, 2026
1 day ago
Current price of oil as of July 20, 2026
Personal Finance
Current price of oil as of July 20, 2026
By Joseph HostetlerJuly 20, 2026
1 day 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.