Colorado Companies to Watch
Inaugural Colorado Companies to Watch winners received their awards at the gala event on June 25, 2009
THIS WEEK'S COLORADO COMPANY TO WATCH: Novus Biologicals
Novus Biologicals was nominated for Colorado Companies to Watch by the City of Littleton, and by Lee Lang of Advanced Biologicals who stated ¿Novus Biologicals has become world famous for supplying high quality antibodies for biotech research. Novus
has positioned itself as a leader in GCPR antibodies, a primary focus for basic research and drug discovery. They have been in business for nearly 20 years and during this period have continued to grow while providing outstanding customer service. They currently sell in more than 64 countries and continue to expand.¿
Colorado Companies to Watch is pleased to announce Novus Biologicals as This Weeks Colorado Company to Watch. The City of Littleton, Colorado Business Bank and the Colorado Office of Economic Development and International Trade, in conjunction with Colorado Companies to Watch congratulates CEO Karen Padgett and staff on this accomplishment. Novus Biologicals has had double digit revenue growth and new job creation every year since 2005; including hiring 10 more employees in 2009 than they originally estimated.
Novus Biologicals develops; licenses and markets research materials to scientists in academic, corporate and government laboratories. Since 1996, Novus Biologicals has partnered with leading scientific researchers and third-party providers to develop a portfolio of more than 70,000 products. In addition to revenue and employee growth Novus was recognized for their special strengths which include a service to help customers find the right product, even if it isn¿t manufactured by Novus; innovative practices using technology to keep all data and scientific information current on all products; unique company culture which allows employees to thrive; developing and providing colleges with educational materials; and the ability to quickly adjust their business model to not only survive adverse business situations but to use them to grow. In 2006 when a primary supplier dropped them; they implemented new measures to buy from 80 different manufacturers of the products they needed, allowing them to keep customers, increase margins, and grow sales. Again in 2008 to combat any stagnation in the market, Novus broadened product line to include supporting products, which now make up 15% of revenues, without these new product lines, they would have been much closer to zero growth for the year.
On November 3, 2009 the City of Littleton hosted a party for the Novus Biological leadership and staff, complete with cake, a plaque and hats for every employee. Karen Padgett, CEO attributed the support they have received from the City of Littleton¿s Economic Gardening program as a large factor in their success and continued growth; most recently adding social media and video to their marketing tools
Colorado Companies to Watch is a dynamic program honoring growing companies that are developing valuable products and services, creating quality jobs, enriching communities, and building new industries throughout Colorado. High performance, second-stage companies account for most of the economic growth, community development and economic independence in our state, they are Fueling our Economic Fire. The State of Colorado supports Colorado Companies to Watch through the Colorado Office of Economic Development & International Trade both in leadership and sponsorship. This statewide effort seeks nominations from all sectors and communities and is not industry specific. The winners represent a broad range of economic sectors and regions of our great state. Companies to Watch (CTW) is a national awards program developed by the Edward Lowe Foundation to honor second-stage companies which is successful in several other states as well. Colorado is the first to roll out a yearlong celebration highlighting one of the fifty award winning companies each week; check back every week to learn who is "THIS WEEK'S COLORADO COMPANY TO WATCH".
To learn more about Colorado Companies to Watch, become a sponsor, or to nominate a company for the 2010 awards please visit www.colorado.companiestowatch.org.
Visit this week's Colorado Companies to Watch archive to read about earlier honorees
Visit Colorado Biz Magazine to view the Colorado Companies to Watch special section
View 9News coverage of this week's Colorado Company to Watch, including past stories