Nanotechnology Now

Our NanoNews Digest Sponsors

Heifer International

Wikipedia Affiliate Button

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

Two-dimensional melting of hard spheres experimentally unravelled after 60 years: First definitive experimental evidence of two-dimensional melting of hard spheres April 21st, 2017

National Conference on Nanomaterials, (NCN-2017) April 21st, 2017

NanoMONITOR shares its latest developments concerning the NanoMONITOR Software and the Monitoring stations April 21st, 2017

Nanomechanics, Inc. Unveils New Product at ICMCTF Show April 25th: Nanoindentation experts will launch the new Gemini that measures the interaction of two objects that are sliding across each other not merely making contact April 21st, 2017

Announcements

Two-dimensional melting of hard spheres experimentally unravelled after 60 years: First definitive experimental evidence of two-dimensional melting of hard spheres April 21st, 2017

National Conference on Nanomaterials, (NCN-2017) April 21st, 2017

NanoMONITOR shares its latest developments concerning the NanoMONITOR Software and the Monitoring stations April 21st, 2017

Nanomechanics, Inc. Unveils New Product at ICMCTF Show April 25th: Nanoindentation experts will launch the new Gemini that measures the interaction of two objects that are sliding across each other not merely making contact April 21st, 2017

Alliances/Trade associations/Partnerships/Distributorships

BASF and Landa partner to create revolutionary pigments for automotive coatings: The alliance combines BASF innovations with Landa nano-pigment technology April 5th, 2017

Leti Announces EU/South Korean Project for Worlds First 5G-system Prototype: Coinciding with the 2018 Winter Games in PyeongChang, Korea, Prototype Will Be First Time State-of-the-art Terrestrial Wireless Communication Is Seamlessly Combined with Disruptive Satellite Communicati April 4th, 2017

ATTOPSEMI Technology Joins FDXcelerator Program to Deliver Advanced Non-Volatile Memory IP to GLOBALFOUNDRIES 22 FDX Technology Platform: Leading-edge I-fuse brings higher reliability, smaller cell size and ease of programmability for consumer, automotive, and IoT applications March 27th, 2017

Leti and HORIBA Scientific to Host Webinar on Ultrafast Characterization Tool: Plasma Profiling Time-of-Flight Mass Spectrometer Tool Cuts Optimization Time In Layer Deposition and Fabrication of Wide Range of Applications March 27th, 2017

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