A Great Success Story

Over the weekend, I attended a little “shin-dig” at a warehouse location nearby our home – a ribbon cutting party for a young company’s new factory location. This company, Luraco Technologies, manufactures a number of products including a magnetically coupled water pump. This interesting invention includes an electric motor on one side of a bulkhead that spins a number of powerful magnets inside the motor housing, and a magnetic fluid “slinger” on a low friction spindle on the other side of the bulkhead. No penetration is required through the bulkhead for power or plumbing to pump water with this device.

This company was launched five years ago with a Federal grant to solve a military problem, and they satisfied the objectives successfully. Today Luraco has about 25 employees in about 23,000 sq-ft of factory space, and I suspect that their revenue will be in the low millions of dollars for 2011. Not bad for five years for hard work in this economy. A great success!

But, I like to “peel the onion” – I think I have the pertinent facts, here… Behind every success is a story – often a story of an even larger success, and that is the case here. The CEO and CTO of this company are brothers – two of five children. Two of the siblings (including the CTO) have Ph.D. degrees, and a third is working on an M.D. The father was at this little party beaming with pride – along with aunts, uncles, and more than 200 other relations and friends of the family. The family are Vietnamese immigrants who claimed refugee status and settled in the US more than a decade ago. The father was a driver for an officer in the US Army during the Vietnam war – poor and uneducated, he was imprisoned by the communist Vietnamese government for seven years for “crimes against the country” shortly after the US withdrew from the Vietnam. On his release from prison, he was an outcast with no opportunity in his homeland. He brought his entire family to the US to start a new life as soon as his refugee status could be determined. He and his wife worked two jobs each almost from their first month here to be able to afford to put their children through college as far as each would go. His children are all destined to be successful – every one of them – not just in the father’s eyes, but by anyone else’s measure, too.

This is a Great Success Story. I was proud to be there – I was beaming with pride alongside the father for a few moments. What a memorable evening.

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