INNOVATOR OF THE YEAR NOMINEES
This award is given to the business flourishing in an innovative industry or approaching business/entrepreneurship in a groundbreaking manner via their products and/or services.
iWave Technologies L.L.C. dba iCubed International L.L.C.
Type of business: Manufacturer of portable appliances
Founder/Managing Member: Phil Davis
Location: Cleveland
www.iwavecube.com
Phil Davis’ flagship product is the iWavecube ($149.95), a miniature microwave weighing only 12 pounds. Last year’s revenues exceeded $100,000. Davis owns the patents on the iWavecube in both the U.S. and China. Next to launch in fall 2009 is a portable toaster (iToastcube) as well as a refrigerator (iFridgecube).
Group4 Labs Inc.
Type of business: Develops diamond-based semiconductors for highly energy-efficient micro-electronics
Co-Founder/CEO: Felix Ejeckam
Location: Menlo Park, CA
www.group4labs.com
Launched in 2003, Group4 Labs produces the world’s first diamond-based semiconductors for use in wireless, GPS satellites, and more. Its patented technology–Gallium Nitride-on-Diamond–enables 10-times more energy-efficiency than its competitors. The 12-employee firm realized $1.25 million in 2008 revenues. Clients include NASA and the Dept. of Defense.
Rainey Compression Essentials
Type of business: Designer, manufacturer, and distributor of post-operative garments
President/CEO: Russell Rainey
Location: Atlanta
www.raineywear.com
Rainey Compression Essentials earns revenues of $1.1 million as a provider of post-operative garments for the plastic surgery industry. Looking beyond U.S. borders, the company is taking advantage of the booming plastic surgery market in the Caribbean.