55 Brake Company, Inc. - Boise

55 Brake was formed in September 1998 to develop, manufacture and market an intelligent parking brake control system to replace the manual set and release mechanisms then in use. This new system would not have to rely on human intervention to immobilize a vehicle during unsafe conditions. It was produced and initially marketed for school bus applications in the Northwest region and was very well received.

Initially, 55 Brake faced several strategic problems - product engineering and development, protection of intellectual property rights, funding for national and international manufacturing and distribution, creation of a robust operational structure, and simply meeting the payroll requirements for such an organization.

The company began working with Rick Vycital at the Boise office of the Idaho SBDC in 2001. Rick assisted in identifying incomplete business plan elements and locating resources to complete the plan. Boise State University MBA teams prepared projects related to grants and funding opportunities. An international business class participated in a study of the product's marketplace and recommended market penetration strategies.

The company sought assistance with a stock offering circular and between 2001 and 2003 the company raised over $700,000. Rick Vycital also assisted in locating and hiring the Chief Executive Officer, Jeff Fletcher. Under Jeff's leadership, product development moved swiftly. The State of Idaho authorized reimbursement for installation of the product on state-owned vehicles under its existing transportation funding guidelines. The company secured U.S. and international patents, creating interest by global vehicle parts manufacturers.

In 2003, a brand image was developed and a comprehensive marketing plan completed. International marketing student interns from BSU assisted with the development of an international sales plan. In 2004 the company signed an international licensing agreement with one of the world's largest brake manufacturers.

The company anticipates millions of licensed unit sales as additional manufacturers shift to the use of computer-controlled automotive safety systems. 55 Brake has retained rights to market its products in the "retrofit" market. The company was awarded the "Innovator of the Year" for 2002 by the Idaho Business Review. The award was sponsored by the Idaho National Engineering and Environment Laboratory (INEEL).