Monday 5 March 2012

Profile on… Joinlox


Profile on… Joinlox

1)    Briefly describe your business.

Joinlox delivers a range of rapid joining systems to a broad number of industry sectors and applications.  We develop and license the use of a range of proprietary mechanical systems to innovative manufacturers around the world.  We also pursue new markets with our own products where we identify an opportunity to disrupt a static market seeking a better solution.

Established in early 2009, the company is already working with a diverse mix of multi-national, industry leading organisations in Mining and Mineral Processing; Construction, Bridges and Building Materials; Furniture and Cabinetry; Water Storage and Pipelines; Packaging, Materials Handling and Transport.  This list is now growing every month.

Joinlox' ability to succeed across such diversity stems primarily from the adaptability and suitability of our expanding portfolio of proprietary technologies, but our business model has been devised and implemented to deliver innovative solutions to our clients and harness their channels to broader markets.

2)    How did you generate the idea?

The first Joinlox concepts were created via biomimicry (the study of nature's solutions to help solve human problems) by learning from the way clams and molluscs securely attach themselves to rocks. 

Since then, we have developed numerous new Joinlox systems that have almost limitless application to replace traditional means of joining such a welding, adhesives or fasteners with a rapid, strong and reusable joint.

3)    What made you decide to progress it from just an idea to a real business?

Joinlox provides advantages in joining that are not possible by conventional means.  Two terms sum up both the Joinlox systems and the business - Adaptability and Scalability. 

The Joinlox systems can be adapted and modified to suit literally thousands of applications across hundreds of industries. 

Winning the ABC's 'The New Inventors' at the end of 2008 provided Joinlox terrific exposure and broad recognition.  The initial challenge was to harness this by identifying the areas of initial focus to penetrate, gain traction and generate revenues. 

We are continuously refining how we approach new market sectors, but getting to know the industry and identifying the innovative players in each sector is key.

Pleasingly, major organisations are now contacting Joinlox seeking a point of differentiation in their own respective markets.  At Joinlox we don't just replace their current method of joining components. 

We review their methods, processes, manufacture, labour, delivery, assembly, safety, service and the entire lifecycle of their products, materials or applications to identify areas that can provide competitive
advantages, greater efficiencies and improved margins. Fundamentals that are obviously attractive to every sector.

4)    What were the main challenges faced?

Similar to all those that are faced by any technology-driven business.  Availability of adequate funding and resources are at the top of this list, but Joinlox does have many of the key points investors look for so we have been fortunate to be able to fund our technical and business development strategies reasonably well. 

One specific challenge that stands out was convincing early adopters that the advantages and potential rewards of implementing the Joinlox systems were greater than the apparent risks of being the pioneers in their respective industries.  An early adopter is more than just a customer, they are a foundation stone, a partner to your business who can help you set solid foundations upon which all things grow.

5)    What tips would you pass on to other entrepreneurs who are starting out?

Differentiate yourself, your idea and your business from your competitors.  One of our company values is to always challenge convention.

6)    Knowing what you know now, is there anything you would have done differently?

Perhaps to be more aggressive in penetrating more new markets simultaneously.  Of course this is tempered by availability of limited resources in the early stages, but to achieve rapid growth the business needs a healthy appetite for calculated risk.

7)    Where do you see the business in 5 years’ time?

Joinlox has unlimited potential scalability with the right people and capital resources.  If we can
successfully balance this as we grow, then the next 5 years will be very exciting.  In this time, we are aiming for Joinlox to be ubiquitous in numerous applications across multiple industry sectors.  We want to displace welding, fasteners and even the toolkit!

8)  What would you suggest that the AIC strives to tell government in Australia about commercialisation?

The market is king.  That is, without ready access to the right markets, even the best ideas will fail to commercialise.  Any measures by AIC to assist government at all levels to provide relevant education, mentoring and the means for early stage companies to identify, measure and penetrate their market is key to any organisation's success.

Joinlox has been a fortunate recipient of AusIndustry initiatives including the Commercialisation Australia and R&D Tax Concession programs - both of which have assisted us greatly.

9)    If you could have been responsible for any innovation, what would it be and why?

Glass.  Every level of modern society is enriched as a result of it.

10)    Which entrepreneur do you most admire and why?

Thomas Edison.  Probably more widely known for his inventiveness (more than 1,300 patents), but his ability to turn his ideas into marketable products has helped shape and enrich humankind for the better.

 

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