Success story: Nanova Inc.
Chinese engineer makes Columbia his entrepreneurial home to produce better dental, orthopedic materials for patients
Most serious entrepreneurs will go to great lengths to build a better mousetrap. Engineer Hao Li is so dedicated to his entrepreneurial dream he traveled more than 10,000 miles to pursue it, emigrating from his native China to Columbia, Mo.
Hao Li, assistant professor in MU's College of Engineering, started his high-tech biomaterials firm Nanova Inc. in 2005.
The "better mousetraps" he envisions will help dentists and orthopedists offer more reliable and longer-lasting materials to help their patients.
Hao, assistant professor in the mechanical and aerospace engineering department at MU's College of Engineering, specializes in materials science. He focuses his research on biomaterials, nanonstructured materials, composites and medical devices. He plans to develop more reliable orthopedic, dental and cardiovascular devices to meet a growing demand from the health care community.
Like other ambitious students at one of the top engineering schools in China (Xi'an Jiaotong University), Hao wanted to get the best doctoral-level engineering training and to study high-tech approaches in the United States. He joined the faculty at MU in 2005, after earning his doctorate at Stevens Institute of Technology in New Jersey and pursing post-doctoral studies at Brown University in Rhode Island.
Hao's engineering research helps him envision commercial applications. His first steps in that direction involved pursuing research grants.
"My current research is primarily funded by research grants from the National Science Foundation, the Environmental Protection Agency and the University of Missouri," says Hao.
Visit www.missouribusiness.net/success/nanova.asp for the complete story with additional photos.
Building a relationship you can bank on
Maintaining a solid relationship with a lender is important in good...and bad…economic times
Mark Twain once wrote: "A banker is a fellow who lends you his umbrella when the sun is shining and wants it back when it starts to rain."
Unfortunately, Twain may have had a point about how some entrepreneurs see their banker. Small business owners often view their banker as their adversary rather than as an advocate, but the fact is that your relationship with your local bank is among the most critical for your business success. Just because the loan is closed and you're making problem-free, regular payments doesn't mean that you can neglect the relationship. In fact, that's when you should work to keep communication open. Proper relationship management is critical to keeping you and your business in a position to gain assistance from your banker when it is needed the most.
Today's financial conditions are a case in point.
Continue reading about banking relationships at: www.missouribusiness.net/docs/banking_relationship.asp
The funding question: What are angel investors and venture capital firms?
Entrepreneurs are often faced with the question of what type of investor is necessary for the stage of their business. The answer is not always simple. It depends on a number of issues including the amount of money sought, the type of business and the development stage in which the company finds itself. Knowing the differences from angel investor to angel investor and from venture capital firm to venture capital firm can save an investment-seeking entrepreneur significant amounts of time.
As a rule, angel investors are high-net-worth individuals with a history of financial success. They may or may not take an active role in the company, but generally have "other day jobs." Angels tend to fit the role of mentors for many companies, offering help when requested and sometimes when it is not requested.
A key point to remember is that angels are writing personal checks using their own funds. They usually do not require a controlling equity stake and will often invest in groups (referred to as "angel groups") or in conjunction with venture capitalist firms. There also is a national association called the Angel Capital Association (ACA) (www.angelcapitalassociation.org), which has 30 member groups. ACA is sponsored in part by the Kauffman Foundation of Kansas City.
Access the full story on funding at www.missouribusiness.net/docs/funding_angel_venture.asp.
Nov. 20 conference in Rolla to explore broad range of small business topics
A one-day conference for small business owners, and for individuals and students seriously considering starting a business, will be conducted Nov. 20, on the campus of the Missouri University of Science and Technology in Rolla.
The 2008 Rolla Regional Business Conference is sponsored by the Rolla Area Chamber of Commerce in cooperation with the Missouri S&T's Small Business & Technology Development Center.
"This is a first-time event for the Rolla area," says Barry White, director of Missouri S&T's SBTDC. "It will offer learning opportunities for every phase of business, from start-up through expansion."
The event is divided into four learning tracks: business basics, marketing, human resources and business expansion. Specific topics will include: Web page applications, insurance, business law, business financing, accounting, lean manufacturing, technology-oriented grant funding and government contracting.
Running from 8:30 a.m. to 3:30 p.m., the conference will be held at the Havener Center, 1346 N. Bishop, on the Missouri S&T campus. Consult the calendar listing for additional information or to register for the conference. The standard registration fee is $50 before Nov. 3, $60 thereafter.
"Attending a post-conference networking session will be state Sen. Frank Barnitz to informally discuss small business issues," says White. "In addition Congresswomen Jo Ann Emerson plans to attend if her schedule permits."
Predictable patterns produce memorable marketing mantras
Book Review:
Powerlines, by Steve Cone (©2008, Bloomberg Press)
This is a test.
What product, service, corporation, movement or campaign is associated with each of the following?
- "It's morning again in America."
- "Who knows what evil lurks in the hearts of men?"
- "What happens here, stays here."
- "A little dab'll do ya."
- "A chicken in every pot, and a car in every garage."
- "Never in the field of human conflict was so much owed by so many to so few."
- "Generations of Style."
- "There is nothing wrong with your television set."
- "Think small."
- "Perfection has its price."
According to Steve Cone, these are "powerlines." Beyond mottos or slogans, these are word combinations that deliver "an electric surge, a current that charges the mind long after the initial message is received."
In his new book, Powerlines: Words that Sell Brands, Grip Fans and Sometimes Change History, Cone provides a fresh approach to creating promotional mechanisms that will set your company's message above the rest.
Continue reading the Powerlines book review and find the answers to the quiz above at www.missouribusiness.net/docs/review_powerlines.asp.
Business going green: Joplin hardware store increases retail traffic with conservation-friendly services
In the future, every town may have a local store where customers can shop for components for hydrogen-powered cars, energy efficient lighting, and non-toxic lawn and garden products—and recycle cardboard, paper, rechargeable batteries and fluorescent lamps.
Residents of the Joplin area have such a store now and it is the same place they've always gone to buy their plumbing, electrical, painting, garden and home improvement supplies, the local hardware store.
John and Cris Henkle, co-owners and operators of Henkle's Ace Hardware in Webb City, Mo., care about the earth and are willing to accept some responsibility for the products their store sells.
Continue reading about going green at: www.missouribusiness.net/eac/docs/joplin_hardware.asp
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