Thursday, January 25, 2007

New Incubator Model

In 2006, Deloitte recognized NewMarket Technology asd being the #1 fastest growing technology company in Texas, the #3 fastest growing technology company in the United States and #5 fastest growing technology company overall in North America.

NewMarket Technology has taken the incubator concept and turned it on its head. Philip Verges, the company’s chairman and CEO, describes it as an asset-based systems integration firm, “but the asset aspect is that we have our own products that we package and sell, and these assets are emerging technologies.”

They combine traditional systems integration and the early marketing and selling of a new technology with integrated the financing activity for these early technologies. Verges explains that each emerging technology is packaged into a discrete subsidiary. As that subsidiary gets some initial traction, they give it its own public listing, which gives it the ability to capitalize further and gives NewMarket an interim return on investment. NewMarket has gone from $158,000 in revenues in 2001 to $50 million in 2005 and has expanded beyond the United States to developing economic regions like China, Eastern Europe, and Latin America.

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