Meet GES Delegate: Wendy Jameson
Name: Wendy Jameson
Twitter handles: Colnatec, @Potentiate (personal)
Facebook: www.facebook.com/Colnatec
Country of Origin: Nebraska, USA (it’s like a whole other world)
Organization Name: Colnatec LLC
Organization Website: http://colnatec.com
Description of Organization: Colnatec designs, develops, and manufactures the only high temperature process control sensors for film thickness monitoring in thin film deposition processes (OLED, ALD, CVD, PVD). Our systems are used in the manufacture of flat panel displays, solar cells, optical components, high speed electronics, food packaging, and next-generation coatings (e.g. hydrophobics, medical devices).
Next big step for our organization: Profitability. After 6 years of R&D — bootstrapping most of it — for an innovative scientific instrument in a slow manufacturing environment, we now have final products accepted into production line systems at a global Fortune 500 company. This is our year.
Biggest obstacle as an entrepreneur: Growth capital. We began the company in the thick of the deepest recession in 70 years, with manufacturing moving overseas at an increasing pace. Capital markets were lethargic to start, but any funding available was going to software/mobile/biotech, not hard goods manufacturing, especially not for process control systems. Our assets were expensive, R&D required overseas travel, and the solar industry collapsed on us mid-stream. Then we had employee issues (on top of difficulty finding talent at rates we could afford to pay). To be standing today is a testament to perseverance and how strongly we believe in our products.
Advice for emerging entrepreneurs: Hire slow and fire fast. When you start out, you can’t always afford the best talent, so you make concessions. If you suspect something is wrong, it probably is. Trust, but verify! Get comfortable with firing people who don’t meet your standards, and do it quickly, before they bring down the entire organization. Be friendly, but keep a professional distance with employees, so you can always do what’s best for the organization. The other employees (and investors) are counting on you!
