Numerous Business Plan Competition Victories Prepare Klymit to Release Breakthrough Insulation Technology
Ogden, Utah – May 22, 2008
It’s every outdoor enthusiast’s dream – the ability to control their own personal environment on the mountain, regardless of where and how hard they go, the weather around them, or the separate environment of fellow enthusiasts.
Klymit has established its strategy to make this dream a reality by winning top prizes at more than 10 business plan competitions across the country. Founded in February 2007 by Nate Alder, Klymit consists of a talented and dynamic team of recent Brigham Young University graduates with undergraduate, masters, and doctorate degrees among them.
Klymit’s highly technical layer of insulation provides users with personal climate control as they regulate the amount of heat retention within their snow jacket and other outdoor products based on their own needs and preferences in the face of changing weather and fluctuating physical exertion levels. This unprecedented development – “Klymit Kontrol” – offers the benefits of maximum warmth and personalized insulation without the costs of decreased mobility and extra weight in sports gear that typically comes with staying warm in the outdoors.
“Like Velcro, it’s a simple solution to a big problem,” says Alder.
Klymit has performed extremely well in several business plan and innovation competitions, having achieved first or second place in each competition they have entered and earning more than $200,000 in cash and services. In the past year, Klymit has won the Brigham Young University Business Plan Competition, the Brigham Young University Global Venture Competition, the New Venture Challenge at the University of Oregon, the Venture Challenge Competition at San Diego State University, the Stoel Rives Utah Innovation Award, and the Invented in Utah Competition.
Second place finishes include the business plan competition at Rice University, the Utah Entrepreneur Challenge at the University of Utah, the Wake Forest Elevator Competition, the Northwest Venture Championship at Boise State University, and the Moot Corporation Competition (considered the Super Bowl of international business plan competitions) in Austin, Texas.
Constructing such a qualifying resume was not an easy task considering that Klymit competed against hundreds of teams from top universities in the United States (MIT, Harvard, Stanford, NYU, etc.), as well as teams representing international universities from Hong Kong, Singapore, Australia, France, South America, England, and others.
What makes Klymit’s success at these business plan competitions even more remarkable is that it was achieved while the team was currently enrolled in college classes, having to travel, present, and compete during the course of the school year. In fact, until recently nearly all of the Klymit’s history and success came while they were attending BYU. The Klymit team credits a very supportive Center for Entrepreneurship in the Marriott School of Management and professors who supported the team throughout various stages of the venture and during competitions.
In the process of compiling competition victories, Klymit has attracted partners among the top brands in the insulation industry located around the world and has received multiple offers from investment groups. And perhaps just as telling, Klymit’s technology has generated strong consumer demand as outdoor enthusiasts have approached the team at nearly every competition eager to purchase the adjustable insulation products. Retailers are also jumping on board as a result of news coverage Klymit has received from such sources as CNN.com and Fortune Small Business magazine for winning several competitions. In addition, the world’s largest outdoor retailers have contacted Klymit anticipating partnership and sales.
The idea behind the technology first struck Nate Alder on a scuba diving expedition while he was still a student. Realizing that arctic divers use argon gas to insulate their dry suits and to stay under water for longer periods of time on cold water dives, Alder considered the unexplored possibilities if the technology were successfully adapted to above-sea level activities. The swift development and adaptation of the noble gases’ insulation qualities to outdoor gear has delivered long-searched-for solutions to the problem of “warmth on demand” for outdoor enthusiasts – and consistent success at each business plan competition Klymit has entered.
Having achieved worldwide patent-pending status for using their groundbreaking insulation technology in outdoor gear and apparel of all types, Klymit has made great progress with the biggest brand names in outdoor gear and sporting apparel who are lining up to be a part of the initial release of the technology. Klymit has also closed an angel round of funding and is officially operating out of Ogden, Utah. With more than a year of experience under its belt, the future opportunities for Klymit are promising, backed by its track record as a successful business plan competitor and winner. Isn’t it about time you Kontrolled the Elements?
