BYU Student's Invention Draws Major Interest

Apr 24, 2008 by Jeff Robinson

(KCPW News) A BYU student is well on his way to putting a gas-insulated jacket he's invented on the market. Nate Alder, CEO of Klymit, says taking part in BYU's business plan competition last year helped it get off the ground.

"The most valuable thing, without a doubt were the mentors that were provided to us," said Alder. "They really took us to the next level, helping us get connected to the right people, taking the right internships over the summer, and refining our idea and taking it to the next level."

After that, Alder developed a prototype of the jacket to come back and win the grand prize in this month's competition, along with $35,000 dollars in cash and another $15,000 in services.

MBA student Ben Maughan has joined Alder as Klymit's CFO. He says the company is looking to raise $5 million dollars right now, and has 26 investors interested in signing on.

"We've narrowed it down to about a handful that we want to deal with that are the right type of personality, that mesh well with us," said Maughan.

The company plans to license the technology to outdoor clothing companies, which would then manufacture the actual jackets. They're hoping it will be on the market as early as fall 2009. To learn more about Klymit's jacket and business plan, download a podcast of Wednesday's Midday Metro.

Email to a friendPosted in KCPW Newsroom. Copyright 2008 KCPW