What is Ecorphalt? Ecorphalt is a polymer modifier, made primarily from recycled tires, that enhances the performance and durability of asphalt.
Ecorphalt Process Flow
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
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
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
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
Advise The US is the largest market in the world Lots of opportunities