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Dudley-Anne Thomson is the current manager of the Bay House Café, located10 kilometers from Westport, South Island, New Zealand. She rents the space from Brian Finlayson and Michael Varekam, who both started the Bay House Café eight years ago and then moved on to open restaurants in Sydney, Australia.

Many entrepreneurial firms risk falling into a cash flow “Valley of Death”‐the stage of a young firmʼs life when seed funding is running dry but the firm has yet to secure sufficient additional funding to carry it through to product commercialization.This is particularly true in the nascent cleantech sector, where investments are often complex and capital intensive. Drawing on an in-depth interview with seasoned entrepreneur Brian Cunningham, CEO of the Wave Energy Conversion Corporation of America, this article explores the role of persistence in entrepreneurship, distinguishing between “calculated” and “blind” persistence.