High Tech Shoe Firm Starting Out on Right Foot
Taken From March 22, 1999 Issue of the San Diego Business Journal Things are stepping up for
San Diego's B&B Technologies, creator of shock-free footwear
technology for walking and work shoes.
The firm just scored it's first military contract for its
high-tech footwear, the Smart Boot.
Under the $150,000 R&D contract, B&B Technologies will
make a designated number of Smart Boots for the U.S. Army's Special Operations Command.
The first prototypes are expected to be ready in two to three months.
The Smart Boot is made with B&B Technologies' DAMPS
technology. DAMPS stands for Directional Axial Magnetic Propulsion Systems.
Got all that?
The system uses the repelling force of magnets to create the
shoe's cushioning in the heel, which B&B says can reduce conventional dynamic kinetic
motion shock by over 90 percent.
(There's no shoe pump here).
Jeff Brown, CEO of B&B Technologies aid the Smart Boot is
perfect for military use.
"Whenever (the soldiers) go on an outing they're carrying as
much as 100 pounds of equipment," Brown said. "The boot is going to take
90 percent of the load off their backs."
He said the military contract makes the DAMPS technology a
shoo-in for other contracts.
"The military finding proves the commercial viability of the
technology," he said.
B&B Technologies' credibility is also growing through its
investors. Former basketball star Bill Walton is the latest investor in the
company's DAMPS I partnership (the partnership already has 27 investors).
Brown said the firm's next goal is to add former Charmin of the
U.S. Joint Chiefs of Staff Colin Powell to its advisory board.
"Things are only going to get better for us," Brown
said.
He said B&B Technologies is talking to a major shoe company
about licensing the DAMPS technology.
The firm is also in negotiations for $5.2 million in private
funding. The money will pay for a manufacturing facility in San Diego which is
expected to be running later this year, Brown said.
He said DAMPS walking and work shoes will retail for under $100
and will be recyclable. The first 1,000 pairs of DAMPS shoes will be free.
"It's part of our marketing strategy," Brown said.
When DAMPS shoes are completely worn, consumers can send them
back to the factory so the materials can be reused. They also get a rebate for their
next pair.
Brown, a marketing graduate from San Diego State, came up with
the DAMPS technology in 1988 after breaking his foot, among other things, in a motorcycle
accident.
While he was recovering, Brown and his brother came up with the
concept of magnets for shoes.
And, thus, B&B Technologies was born. The firm has
raised about $300,000 in the last 10 years for its R&D efforts. And, like a lot
of start-ups, the company's management team is basically working for free, Brown said.
But the company plans to cash in on its revolutionary shoe
technology. The timing for something like this is perfect, Brown said.
"The consumer is demanding more," the 45-year-old-said.
"The footwear industry is going to change forever because people are going to
want technology that works."
Since its launch last March, the company's Web site
(www.damps.com) has logged more than 50,000 hits.
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