The Wall Street Journal has announced Quadlogic, an energy tracking meter company, as its most innovative small firm for its success in the face of and through the recession. Its interesting to note that the firm has been in existence for 27 years and the recession led them to explore new markets. (This example of a firm entering high growth later in life is the norm among gazelles according to research by Zoltan Acs and others). From the WSJ:
So, what exactly did Quadlogic do to earn the top spot? Let’s go back to early 2009 for the answer. Times were good for the company, which made energy-tracking products that let different tenants in the same building manage and pay for their own usage. The two remaining founders—Doron Shafrir and Sayre Swarztrauber—had just put up the best revenue figures the 27-year-old company had ever seen.
All of a sudden, though, the housing market was in shambles, driving sales into the ground. So Quadlogic decided to stake its future on a daring reinvention plan.
The article also profiles some student entrepreneurs from Berkeley and Cincinnati and the other finalists. The companies range from kitchen design firms to apparel makers and DIY mushroom kit sellers. Some interesting ideas in there, may spark some thoughts for others.