A High-Tech Business Venture: Start-Up, Growth and Closure

From conception of a novel idea to the production and marketing of kilowatt-range fuel cells (PEM or proton exchange membrane) and related products achieved in the business venture is what this book is about. The urge to start a business came from the momentum generated through suffering of being laid off from a job and going through the changes from job to job for a few years. Finding an innovative idea for the business, establishing the business, getting funding for the development of the business, making and selling products—these are all steps of entrepreneurship. Some people may be a natural entrepreneur, others may learn from the family tradition, and still others may get it from the inner urgings. Establishing a business in the high-technology area, in particular, starting it from scratch requires proper education, training, strong motivation, and personal drive. It requires a tremendous push from various sources to start a business. Another important motivation for having my own business was to give my family a stable environment for living. I suffered a lot during the period I was looking for a job and was moving from one place to another. I moved from Toronto (Canada) to Texas (USA), Texas to Connecticut, and from there to Arizona, then to California, and back to Texas. Such moving around (and the instability it creates) is not favorable for the dependents and, in particular, to children in their formative ages. If they do not have to move, they would be more secure and stable. It took about fifteen years after my PhD education when I was able to start my own business. Coming from a third-world country was another disadvantage for me—for many things I did or could not do.