Path Home Shows 2014 Show Archive August 2014 Show 1434 Helping Companies Grow Strong and Succeed

Helping Companies Grow Strong and Succeed

Valude Added: Meridian Technology Center’s business incubator helps businesses grow from innovative ideas to successful reality.
Helping Companies Grow Strong and Succeed

Helping Companies Grow Strong and Succeed

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Show Details

Show 1434: Helping Companies Grow Strong and Succeed
Air Date: August 24, 2014

 

Transcript

Rob McClendon: Well, when it comes to education and jobs, our next segment is where the proverbial rubber meets the road. Take an innovative idea, some hard work and some investment and let it develop within a nurturing environment, and you can often create a successful business. With more, here is our Kela Kelln.

Kela Kelln: Growing a business from an idea to reality can often be a long and difficult process, as more than 50 percent of small businesses fail within the first five years. But with help from a business incubator, that success rate jumps dramatically. Meridian Technology’s Center for Business Development is a business incubator helping to grow businesses for the state.

Ron Duggins: We take small, young companies and help them to grow to become stronger young companies so that they are more likely to succeed during those real critical first five or so years of their existence.

Kela: Ron Duggins is the director for the center.

Duggins: Some examples of companies that we have in the building currently are Xplosafe, and this company has developed an explosive detection technology that would detect certain kinds of explosives such as the one that the shoe bomber used. But they’ve also got a secondary product that will help neutralize certain kinds of chemicals in the lab to avoid accidental explosions in lab chemicals that have sat dormant or sat within the lab for a certain time. So they have both a lab safety aspect as well as a Homeland Security aspect. And they are currently in production and selling their product.

Kela: Shoaib Shaikh is the co-owner of the business, where they also make high tech insulation for shipping containers.

Shoaib Shaikh: The feedback we got from NASA was that the material is excellent, but we recommend you try and apply it to different industries. So from that came this much sturdier, thicker panel that can be applied for shipping goods. And that’s where the boxes came from. So we made the panels. Once we did the panels, we did the testing, and then now we are applying it to collapsible boxes and molded boxes. This box is $96 for shipping.

Duggins: Their initial focus is to ship high-value products such as vaccines or blood that often times will spoil in other kinds of shipping containers. So their new container is much lighter than traditional containers, like the foam containers that you get that are 3-4 inches thick. Their container is no more than a quarter- to a half-inch thick. It retains the coolness for much longer and hopefully will provide better value for the companies that are shipping these valuable products.

Kela: A better way to ship and keep products safe. Sarimin Qmar is the co-founder of the company.

Sarimin Qmar: There was a demand to create thin lightweight insulations. And the market did not have any solution that could offer both structural and also an insulation material. The start-up was a student start-up venture. Three Ph.D. students, you know, part-time, put it together. We did some proposals, and now we are here running a business.

Kela: Thanks in great part to the help of Meridian’s business incubator.

Duggins: They rent space from us, so they do pay for rent. And with that rent come all the different services. Coaching, consulting and the biggest service we provide really is our network of contacts. So my role is to connect all of my companies with any resource they need. If they need specialty insurance, if they need intellectual property help from an attorney, accounting help, and my job is certainly to tie them to those resources, so that they can be more successful.

Kela: There are approximately 40 of these business incubators located throughout the state that are all eager to work with up-and-coming businesses. For more information, visit the Oklahoma Department of Commerce at okcommerce.gov.