After completing the Global Entrepreneurship Program, Nathan M. had a clear objective: start an entrepreneurial venture with Tim who was also part of the Global Entrepreneurship Program. We caught up with Nathan and go to talk to him about his profile and entrepreneurial venture!
Can you tell us a bit about yourself?
My name is Nathan, my business partner is SungTing, but we just call him Tim. Both of us studied undergrad at Purdue University. Tim is a BioEngineer and I am a graduate in Management and Economics. Tim is a native of Taiwan, though he did study high school in mainland China before going to Purdue for college. My formative years were spent travelling Europe as a small child but mostly grew up in a small town in Indiana before going to Purdue.
Can you tell us more about your company? How and when did you launch it?
Tim and I met for the first time in the 2014-15 Global Entrepreneurship Program at emlyon business school. Tim presented his business proposal of recycling used hops from the beer making process for his European Business Project. In October of that year we began discussion of testing Tim’s hypothesis and myself subsequently finding a market for it in the US.
After working together on both our Chinese and US business projects during the Global Entrepreneurship Program, we had more experience working with each other and by July the decision was made to pursue this project as our best bet to start a company immediately following our graduation ceremony.
Our travels led us to Silverthorne, Colorado where we met with a third business partner and officially established Herbal Fracture, LLC on October 19th, 2015. Herbal Fracture is a plant extraction company that focuses on the extraction of the bittering agent from hops. We have developed supplier relationships with local brewers; one in particular is Tommyknocker Brewery. Opportunities based upon the growing markets in the area in which we live may lead us into CBD and hemp extraction, which is legal worldwide and has a current lack of available processors even while there is an oversupply of growers and high demand. The barriers to entry for others to reach the level we are at are already significant.
The Global Entrepreneurship Program helped me to get where we are by introducing me to an individual who became my business partner.
Has the Global Entrepreneurship program help you get where you are professionally? And if so, how?
The Global Entrepreneurship Program helped me to get where we are by introducing me to an individual who became my business partner and enabling us to work together often enough that we knew we could work together professionally toward a committed goal. The credentials of having this degree along with the life experience of travelling around the world and experiencing different cultures go long ways in confirming my credibility while building potential business relationships.
How did the Global Entrepreneurship Program help you develop your entrepreneurial skills?
The number one development has been a broadened horizon. The variety of people whom we have come to know through this program add different elements of thought and character and perspective which could not have been gained in any other way. One of the most difficult things about being an entrepreneur is to grow and adapt to the many unexpected challenges that are bound to come with any venture. The Global Entrepreneurship Program experience required adaptation to many environments and situations which is useful when learning to navigate a venture, deal with suppliers, customers, internal relations, accounting, government, and other factors as they come up.
What advice would you give to the future students of Global Entrepreneurship program?
My advice to current, former, and future students of the Global Entrepreneurship Program is to enjoy the moment you are living in, take advantage of the unique opportunities presented to you through this program, learn about your fellows, invest in relationships with both those you enjoy as well as the ones who frustrate you, be approachable, and build toward where you want to be in 5 years.