Success Stories

MaxQ Technology, Tempe, AZ

MaxQ_Martinez_Dhole_RomeroMaxQ Technology, LLC, is a thermal management solutions and power electronic packaging company targeted at sustainable power conversion markets. Founded by ex-Motorola engineers, MaxQ Technology designs, manufactures and markets advanced liquid cooled coldplates used in power converter systems for electric vehicle, solar, wind, smart grid, high speed rail, industrial, military and other applications such as fuel cells. MaxQ’s patented Q-Chill™ technology is the first new cooling approach for power semiconductors in the last ten years and provides critical advantages in performance, reliability and cost. This technology will result in more domestic manufacturing jobs as MaxQ continues to win market share.

Sanjay Dhole, a business analyst with the Maricopa Community Colleges SBDC who works out of the City of Chandler’s Innovations business incubator has guided the owners of MaxQ Technology since 2010. Dhole advised and helped refine various proposals over the years, including Small Business Innovation Research (SBIR) and Arizona Commerce Authority Innovation Challenge Grant proposals, various government solicitations, and strategic partnerships pitches. Additionally, Dhole directed the owners of MaxQ as they prepared for investor pitches and funding opportunities, identified investment needs, and made angel investor group connections. As part of his foundational business guidance, Dhole counseled MaxQ owners to do a market assessment and develop a succinct targeted business plan. As a result of Remero and Martinez’s focused hard work, in 2012, MaxQ Technology received the Arizona Commerce Authority Innovation Challenge Grant in the amount of $250,000 and was introduced to the U.S. Department of Commerce Export Assistance program to help grow international sales. Consequently, the owners of MaxQ Technology made a trip to Germany to participate in Power Conversion and Intelligent Motion (PCIM) show to introduce its products to various clean tech industry clients.

Memo Romero states, “The SBDC and specifically Mr. Sanjay Dhole have been very important to MaxQ, especially with the early stages of our business and overall growth strategy. Through their support, MaxQ has been able to capitalize on Arizona’s business resources and equally importantly, navigate through the mine field of risks that all startups face, particularly in the tough economic years of 2009- 2012.”

After three years of proprietary design and collaborative development, MaxQ Technology was awarded two fundamental patents encompassing its advanced Q-Chill™ and ColdBase™ liquid cooling technology. There are also numerous trade secrets relating to design, simulation and manufacturing of cooling plates for the power converter industry. One of the applications for these patents would enable a drive train to generate an excess of 900 horsepower or accelerate from 0-60 in less than 3.0 seconds. The MaxQ’s aluminum cold plate would keep the system running cool without compromising reliability electric drive which expels a phenomenal amount of heat while producing acceleration. Last year, MaxQ Technologies grew its sales to approx. $1 million, filled two more full-time positions and is looking forward to even more growth in the years ahead.

Fast Facts

 

MaxQ Technology

Owner: Memo Romero and

Joe Martinez

Address: 8270 S. Kyrene Road,

Suite 108

Tempe, AZ 85284

Phone: : : 877-804-0284

Website: www.maxqtechnology.com

Business Began: 2008

Employees at Startup: 2

Employees in 2014: 7

First Year Revenue: $24,000

2014 Revenue: $950,000

Startup Capital: $10,000

Source of Initial Capital: Owner Investment

Existing Line of Credit:$50,000 from

MidFirst Bank

Maricopa Community Colleges SBDC

Business Analyst:

Sanjay Dhole

Maricopa Community Colleges SBDC

108 N. 40th Street, South Building

Phoenix, AZ 85034 | 480.784.0597

Angela_Cody_-_major-mom“Thank you to my SBDC counselors for helping me get comfortable with my numbers before I did my final pitch. I had to present a 15 minute Power Point to judges and then the next day when I made finalist. I won first place and $25,000.”