Nanotechnology Now

Our NanoNews Digest Sponsors



Heifer International

Wikipedia Affiliate Button


android tablet pc

Home > News > Entrepreneurship: Partnerships for prudent times

December 24th, 2008

Entrepreneurship: Partnerships for prudent times

Abstract:
Joe Habib says he learnt how to run a technology company by working for a business that was profligate with cash. "Truck loads of new equipment used to turn up every day. We were spending money as though there was no tomorrow," Habib says of his four-year spell at Nanosciences, a Connecticut-based start-up that went out of business in the early 2000s after attracting about $10m (7.2m) of investment funding. Habib now follows a more cautious approach. At Illuminex, a nine-person company that he started in 2003, he has steered away from trying to attract large amounts of early-stage funding. Instead, Habib has slowly built up credibility by partnering with bigger companies, raising cash by selling samples of his products and making use of small government grants.

Only in the past two months, as he feels he is making headway with his ideas to develop new types of materials based on ultra-thin strands of metal, has Habib been approaching venture capitalists about trying to raise serious amounts of money - perhaps as much as $3m - to support his plans. It is a stance that is in keeping with today's tough economic times. With banks and other financial groups desperate to conserve cash, investment groups are wary of putting large sums into businesses that have bright ideas but no proven products.

"It has become very important for new companies to demonstrate that they have a clear route to viable products, and linking with bigger companies can provide a way to do this," says Alan Brown, director of the Pittsburgh-based Pennsylvania Nanomaterial Commercialisation Centre. Backed by large companies such as US Steel and Alcoa, the centre promotes ties between big and small companies in efforts to develop nanotechnology. For Habib, it has been an exercise in how to survive with minimal money. The 48-year-old entrepreneur is a late starter to science and engineering. He finished a seven-year physics doctorate at Massachusetts Institute of Technology at the age of 38, after spells as a car mechanic and running a music publishing business.

Source:
thepeninsulaqatar.com

Bookmark:
Delicious Digg Newsvine Google Yahoo Reddit Magnoliacom Furl Facebook

Related News Press

News and information

Oregon researchers glimpse pathway of sunlight to electricity: Collaboration with Lund University uses modified UO spectroscopy equipment to study 'maze' of connections in photoactive quantum dots December 19th, 2014

Instant-start computers possible with new breakthrough December 19th, 2014

Aculon Hires New Business Development Director December 19th, 2014

Iranian Scientists Use Nanotechnology to Increase Power, Energy of Supercapacitors December 18th, 2014

Announcements

Oregon researchers glimpse pathway of sunlight to electricity: Collaboration with Lund University uses modified UO spectroscopy equipment to study 'maze' of connections in photoactive quantum dots December 19th, 2014

Instant-start computers possible with new breakthrough December 19th, 2014

Aculon Hires New Business Development Director December 19th, 2014

Iranian Scientists Use Nanotechnology to Increase Power, Energy of Supercapacitors December 18th, 2014

Alliances/Partnerships/Distributorships

SUNY Poly NanoCollege Faculty Member Selected as American Physical Society Fellow: SUNY Poly Associate Professor of Nanoscience Dr. Vincent LaBella Recognized for Significant Technological Innovations that Enable Interactive Learning December 17th, 2014

New 'electronic skin' for prosthetics, robotics detects pressure from different directions December 10th, 2014

SEMATECH Reports Significant Progress in EUV Resist Outgas Testing: Technologists from SEMATECH and JSR demonstrate outgas test results that further enable EUV lithography for high-volume manufacturing readiness December 3rd, 2014

Toward a low-cost 'artificial leaf' that produces clean hydrogen fuel December 3rd, 2014

NanoNews-Digest
The latest news from around the world, FREE




  Premium Products
NanoNews-Custom
Only the news you want to read!
 Learn More
NanoTech-Transfer
University Technology Transfer & Patents
 Learn More
NanoStrategies
Full-service, expert consulting
 Learn More










ASP
Nanotechnology Now Featured Books




NNN

The Hunger Project







© Copyright 1999-2014 7th Wave, Inc. All Rights Reserved PRIVACY POLICY :: CONTACT US :: STATS :: SITE MAP :: ADVERTISE