Lessons Learned

1
Lessons Learned

• MIT Enterprise Forum
• June 14, 2000

2
Serac Corporation

• What follows is a presentation from Peter
  Gebhard, the founder and CEO of Serac
  Corporation, one of our customers.
• This presentation was made to the MIT Enterprise
  Forum in June 2000 and provided the audience with
  a look back at Selectech five years after Peter
  originally presented his company to the Forum.

3
History and Data

• Serec Corporation - Founded in 1993 to
  commercialize vacuum technology for pollution
  prevention processes
• Full plan developed and presented to the Forum in
  1995, using degreasing and cleaning as the market
  proof vehicle.
• Goal of the plan was to commercialize technology
  in many different market segments

4
Financial Data

• Revenues and Profits

5
Financial Data
6
Historical Goals

• Develop and Commercialize New Technology
• Develop Comprehensive Strategy covering
  intellectual property, manufacturing,
  engineering, regulatory issues and new
  applications
• Create on-going revenue stream based on need of
  new approached to pollution problems

7
Lesson 1

• Its never too soon to sell

8
Lesson 2

• You can choose your partners, you cant choose
  your family.

9
Lesson 3

• Fall in love with people or pets, not
  technologies or companies.

10
Lesson 4

• Keep good records of any technical or other
  developments.

11
Lesson 5

• Match company financing with company products.

12
Lesson 6

• If things are going better than planned, look at
  the plan.

13
Lesson 7

• If your are considering actions not in your plan,
  either discard the action or do it now.

14
Epilog

• On May 1, 2000 Serec Corporation was placed in
  state receivership in Rhode Island.
• The regulatory strategies have resulted in new
  pollution rules and will result in new OSHA rules
  for the workplace.