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Business Start –Up Challenges Presentation to Malaysian Chamber of Commerce October 15, 2014.

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Presentation on theme: "Business Start –Up Challenges Presentation to Malaysian Chamber of Commerce October 15, 2014."— Presentation transcript:

1 Business Start –Up Challenges Presentation to Malaysian Chamber of Commerce October 15, 2014

2 Rubber glove production spurred by AIDS scare in 1980s But what do you do with the rejects? Recycle!

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4 John Quinn, MA Hanna Company CEO read this story

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6 ` Mix 243 from final mix Banbury

7 Mix 223 Tire

8 Mix 243 Tire

9 Mix 223 Tire

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11 Application in Tire MB 1030 MB 1010 Butyl MB 1090

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13 What is Ecorphalt? Ecorphalt is a polymer modifier, made primarily from recycled tires, that enhances the performance and durability of asphalt.

14 Ecorphalt Process Flow

15 Start-Up Challenges Product Approvals Relationships Testing and qualifications Fitting into production line Meeting sudden demand Unexpected Expenses Legal Professional fees Independent lab Taxes Insurance

16 Other Challenges Certifications Long process State Certifications e.g DOT, FDA, EPA, etc Independent lab testing and product trials High cost Funding Difficult Conventional funding - expensive Need track record - historical No credit 100% collateral

17 Lessons Learned Market Secure a few customers Start lean Allow 6 to 36 months for product acceptance Start at higher cost – allow for price reduction Join trade groups or industry associations Unexpected Expenses Legal – board of directors Professional fees – get budget and minimize

18 Lessons Learned Funding Use County, State and local source Low interest rate More flexible – 20% equity, 80% loan State Grant Programs – EPA, DOD, NSF, etc Assistance Chamber of Commerce SBA & Public private entities Trade groups

19 Advise The US is the largest market in the world Lots of opportunities

20 Questions? Thank you


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