How to Become a MEMS Millionaire: Strategies and Case Studies
When we look at the prospects of the MEMS industry, it becomes clear that the market is growing rapidly and that there is a lot of potential to earn huge amounts of money. The lucrative business holds enough room for people from the MEMS industry who have the possibility to revolutionize the market.
In order to establish the path to success and wealth, MEMS Commercialization Report Card is the guideline that consists of different factors which identify key points of making it in the market. The card addresses 14 topics like Ventrue Capital Attraction and Profitability which contribute to wealth creation. Here, the report is based on what the MEMS industry leaders have to say about success and how the market works. These entrepreneurs founded a series of MEMS companies, which tells a lot about them in terms of credibility.
What is characteristic of the MEMS industry is an acquisition by another company, whereby the founders and key staff enjoy great rewards. Up to now, 35 companies were acquired in the MEMS market from the first acquisition in 1978. Even if the MEMS companies stay in the private sector by large, the Invensense Company made the bold step and switched to the public sector in 2001/2012. The shift was very successful accounting for over 100 millionaires that worked for the company. Still, this is a rare case of prime success, so many investors and entrepreneurs are still somewhat reserved towards the MEMS market.
The First MEMS Millionaires
The first millionaires to appear in the industry were generated by buyouts from telecom companies in optics at the end of the 1990s (1998 to 2001). The buyouts resulted from the interest in the industry that drew attention with its creation of cross-connect switches in the optics area. Firms like Corning were bought for $750 million. Even if it seemed like the right call, after 2003, the optics, as well as the Internet market declined, leaving the companies halfway of the forecasted success.
If we compare the MEMS industry to Google and Microsoft, we simply have to say that the MEMS market is not quite there yet. While Google and Microsoft produced a large number of millionaires, the MEMS industry is lagging behind, even though it is very lucrative. The MEMS industry is wealthy in general and as a whole, but individual money-making is not significant or record-breaking. Nevertheless, there are several examples of how to make it a multi-million business and here is what the industry leaders have to say.
Dr. Bryzek, who established 11 companies, says that it is important to design a unique product with unique features that will drive the customers to your door. To successfully sell a MEMS company, industry roadmaps are key for commercialization of the company, and they have to address the main objectives. He also states that provided solutions will attract buyers and investors, so the company management team has to provide unique solutions to tackle major issues and bring forward the development process.
Invensense (which went public in 2011/2012) was one of the greatest recent successes in the MEMS industry by producing gyros for mobile phones. The company stood at a worth of 1 billion dollars. Its CEO, Steve Nasiri, says that the secret to his success was understanding the component and taking it to volume production. Packaging and testing were some of the priorities in the company which also represented a cost-efficiency factor. Their effort resulted in a perfect packaging solution which only made the product more attractive in the market.
There are several more success stories of how individuals got to become top earners in the industry. The stories serve as a motivation to all other MEMS entrepreneurs who could contribute to individual wealth creation in the MEMS sector.