Forbes Honors VEXTEC as America's Most Promising Company
Firm Is Selected From Thousands of US-Based Companies for the Quality of Its Management, Technology, and Opportunity
After months of sifting through the financials, business and technology descriptions for thousands of companies from all over the country, the results are finally in: Forbes has named VEXTEC America's Most Promising Company
"VEXTEC's technology promises to hasten the pace of innovation," said Brett Nelson, Forbes Entrepreneurs Editor. "This young company represents the very spirit of entrepreneurship in America."
The hunt for America's Most Promising Companies was announced in Forbes, and Forbes.com last spring. Forbes conducted the survey in partnership with The Venture Alliance, a boutique investment adviser to early stage companies.
According to Elliott Reiff, co-founder and Chief Operating Officer of The Venture Alliance (www.tvausa.com), "Thousands of companies started the survey, but VEXTEC clearly stood out because of its technology, overall quality of the management team, and the huge market opportunity that exists for them."
After 10 years in development, VEXTEC's pioneering work in the fields of material science and probabilistic modeling has yielded the only accurate and efficient computational framework for simulating and then predicting the behavior of manufactured products -- their performance, their durability, when, why and how they're going to fail, and what it's going to cost when they do. The technology, called Virtual Life Management, can make these predictions for one product, the whole product line, or even an entire fleet of products.
VEXTEC's VLM technology has the potential to make a profound impact in the aerospace, automotive, heavy equipment, oil & gas and medical device markets, with a broad-based superset of applications. The technology has the power to replace the trial and error of product design, bring newfound consistency to manufacturing and quality management, provide a platform for predictive maintenance, and drive warranty costs to zero. In terms of its financial impact, VEXTEC's addressable market is huge.
Loren Nasser, VEXTEC CEO and co-founder, insisted it was just a matter of time. "We always knew we had a jewel here and now the planned acceleration of our growth has been validated by this selection. We're honored we've been chosen from so many fine companies, and particularly that we've been selected to head this prestigious list."
VEXTEC is the only company in the world that can accurately and efficiently predict the performance, durability and true lifetime cost of a single component or an entire fleet -- before they're ever built. Founded in 2000, VEXTEC has pioneered and patented innovations in material science and probability theory to form the foundation of its Virtual Life Management (VLM) technology. Manufacturing companies from such diverse industries as aerospace, heavy equipment, automotive, electronics and medical implants can all benefit from VEXTEC's unique ability to predict product life cycles and failure, and most importantly, their financial consequences. To learn more, visit www.vextec.com