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Market pull Featured

5:51am EDT June 29, 2005

Scott Rickert has big goals for his nanotechnology company, Nanofilm Ltd.

"Become the next Dow Chemical in Cleveland, Ohio," he says.

Rickert, president of the company, set out to create a specialty chemicals company 20 years ago. After a rough start, including a time in the late '80s,when bankruptcy was considered, Rickert has found the right strategy and the right markets for his product.

Nanofilm technology is used in a variety of consumer products, including cell phones, eyeglasses, touch-screens and underwater cameras. The nanofilm forms a protective, ultra-thin coating around the product it is affixed to.

Nanofilm repels dust and is impossible to penetrate. Rickert uses his product to help companies make their products better.

He uses a "market pull" strategy to develop new markets and create new products. The company identifies the need, identifies its target and creates the nanotechnology to fit the target's product. This approach allows Nanofilm to focus on the demand set by consumers and continually grow its customer base.

The company is fully integrated in the optical and transportation industries, and is expanding its applications in the health, household and energy industries.

As a result of this strategy, the company is profitable and considered an industry leader 20 years after its founding. It continues to be spotlighted in the nanotechnology field for its ability to produce products and profits while many nanotechnology companies still have only prototypes and patents.

The company is on its second and third generations of the original technology and is developing new products and platforms.

Rickert encourages innovation from throughout the company and instituted a formalized award for performance and innovation, and he encourages employees on an informal basis every day.

How to reach: Nanofilm Ltd., (216) 447-1199