Defining New Markets

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Over the next 12 months, MicroMax wants to expand into avionics and white goods.

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Filed under: Automotive | Canton, MI | Defining New Markets | MicroMax | Rachel McCormack | Software

Looking over the next 12 months, Rachel McCormack, President of MicroMax, is looking to expand into avionics and white goods. Avionics represents a good fit. Mike, MicroMax's CEO, got his start in avionics and so is familiar with the industry. Further, mission critical avionics components require stringent testing much as in the automotive industry.

The market for MicroMax's products in white goods like refrigerators and washing machines is less clear. While these products have embedded systems, the extent to which testing is necessary is less apparent.

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Some follow up questions to BioLumix's elevator pitch. We discuss competitors, FDA, and how exactly a company might need to run hundreds of microbiology tests per day.

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Filed under: Ann Arbor, MI | BioLumix | BioTech | Defining New Markets | Early Stage Innovation | Gideon Eden | New Enterprise Forum

 We follow up Gideon Eden's elevator pitch for BioLumix with a few clarification questions:

• Competitors vary by segment. In larger segments, like food, pharmaceuticals, and cosmetics, BioLumix is competing with other rapid testing technologies. In nutraceuticals, BioLumix is competing against external labs.
• FDA's testing mandate for nutraceuticals is rather loosely defined. These companies are mandated to test but the precise tests themselves are left to the company to justify.
• A nutraceutical can easily run 100's of tests per day.  These companies have multiple products and each product can require multiple tests.  For instance, a company with 20 products, each requiring 5 tests per day, would consume 100 test vials per day.

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BioLumix has developed a product to detect bacteria and microorganisms on-site in production facilities. Its target industries include food, pharmaceuticals, and nutraceuticals. BioLumix's initial focus is on the nutraceuticals segment estimated at $250 M/year.

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Filed under: Ann Arbor, MI | BioLumix | BioTech | Defining New Markets | Early Stage Innovation | Gideon Eden | New Enterprise Forum

This interview with Gideon Eden, CEO of BioLumix, is the first in our New Enterprise Forum series. In this series we are looking at early stage technology companies. At the heart of these companies is innovative intellectual property coupled with a potential business model. The goal of these interviews is to understand how the entrepreneurs got to where they are now and why they think they can succeed.

BioLumix has developed a product to detect bacteria and microorganisms on-site in production facilities. Its target industries include food, pharmaceuticals, and nutraceuticals. BioLumix estimates the total testing market in those segments to be $2.2 B/year. Its initial focus is on the nutraceuticals segment estimated at $250 M/year.

The nutraceutical segment has recently been subjected to new regulatory requirements by the FDA that they test their production processes for contaminants. These firms typically have neither testing labs nor trained microbiologists so must outsource their lab work at great time and expense. The bioLumix product reduces both the cost and time associated with testing. Recently, over the course of two major industry gatherings, the firm garnered 150 qualified leads and 10 definite orders.

BioLumix operates off of a "razorblade" financial model. Their product comes in two parts: an electronic tester and disposable testing vials. The tester costs $15,000 and the vials $2 to $3 apiece. Over time, the financial outlay for the vials far exceeds that for the original tester.

In future segments, we'll explore the details of the business model, get a demo of the tester, and discuss with Gideon and his co-founder Ruth Eden how they founded BioLumix.

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Anan Ameri has lived the immigrant story she and her staff document in the Arab American National Museum. Here we discuss her personal journey starting in the Middle East, moving to the United States, and ultimately landing in an environment that permitted her to launch a museum.

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Filed under: Anan Ameri | Arab American National Museum | Dearborn, MI | Defining New Markets | Education | Non-profit | Twelve Month Goals

Anan Ameri, director of the Arab American National Museum, lived in Jerusalem, Jordan, and Lebanon before coming to the Detroit area. Highlights from this segment include:

• Anan obtained her doctorate from Wayne State University and briefly taught at the university level.
• Anan decided she was most comfortable doing community work. This work involves harnessing networks of people to get to a common goal.
• She views the establishment of the Arab American National Museum as the crowning acheivement of her career.
• In the near term, she is looking to expand the current location's square footage. She would also like for more traveling exhibits to originate from the current museum.
• Ultimately, she sees no reason there could not be multiple, affiliated Arab American National Museums established around the country.