The Entrepreneur Of The Year Awards 2008 National Winners - Ernst & Young - United States

The 2008 Entrepreneur Of The Year winners

We've captured these preeminent innovators — as well as highlights of the dazzling awards gala on November 15— in our Postcards From Palm Springs. You can also experience some of the evening's excitement with select video of the winner's acceptance speeches. Click on any segment to view individual speeches indexed by award category.

Entrepreneur Of The Year 2008 - Technology - Matthew Szulik, Red Hat, Inc. Although people told him he was "the dumbest guy in the world," Matthew Szulik bet Red Hat on a strategy to compete in the enterprise computing market by offering businesses an alternative to the Microsoft Windows operating system platform. He shifted Red Hat's business model to give businesses the flexibility of open-source code. Although the company didn't have a single corporate client in 2002 when the enterprise software made its debut, Red Hat became profitable in 2003. Suddenly, Szulik was the smartest guy in the world. In just 10 years, Szulik has built Red Hat into the only profitable public open-source software company, revolutionizing the software market. Its unconventional and collaborative business model drives the growth that has made it the leading open-source Linux provider, with more than 80% of the business market. Red Hat has become one of the world's most recognized technology brands, with 3,000 people in 60 offices worldwide. Watch Matthew Szulik's acceptance speech recorded at the awards gala in Palm Springs.

Distribution & Manufacturing - Amin J. Khoury  , B/E Aerospace, Inc. When Amin Khoury was just 12 years old his father left his family. He was designated man of the house by his mother, and besides having to keep his three siblings in line, his new role meant that he had to work to help his family financially. After attending Villanova University for just one year, Khoury was fortunate to get into a technical personnel development program with Wyeth, the research-based, global pharmaceutical company. With his determination and entrepreneurial drive, Khoury created a business plan and sought venture capital to support it. He found the financing and worked in partnership with another company that grew substantially within 18 months. He stayed there for five years, then left and ever since has been buying and starting businesses, B/E Aerospace being the largest of those businesses. After nearly going bankrupt because of the events of 9/11 and the SARS virus, it was Khoury's dedication, training and entrepreneurial acumen that worked to sustain the company. Watch Amin Khoury's acceptance speech recorded at the awards gala in Palm Springs.

Emerging - Steven Nichtberger, M.D., Tengion, Inc. The two strong drives of Steven Nichtberger's life's work came to him in his early years. His father was an entrepreneur who grew a painting company from modest beginnings to become the largest company of its kind. After much success of becoming a doctor and a businessperson, Nightberger was offered an opportunity to become involved with and co-found Tengion. The company's mission — one that Dr. Nichtberger considers the "Holy Grail" in medicine — is to do something that will transform the lives of patients. "If you can prevent kidney failure or the need for dialysis, the impact on society and an individual patient is worth a lifetime," he says. Watch Steven Nichtberger's acceptance speech recorded at the awards gala in Palm Springs.

Energy, Chemicals & Mining - Dr. Bernard J. Duroc-Danner, Weatherford International Ltd. Being even more single-minded than most entrepreneurs, growth was the only thing Dr. Bernard Duroc-Danner really liked. It was because of his interest in growth that led him to take a risk and put down the roots to what would become Weatherford International, Ltd., one of the world's largest diversified oilfield services companies. Under Dr. Duroc-Danner's leadership, the company leveraged more than 200 strategic acquisitions and today, Weatherford has 43,500 employees and 128 manufacturing facilities supporting 809 service bases in more than 100 countries. The journey to that success has been tremendously satisfying for Dr. Duroc-Danner, both personally and professionally. If Dr. Duroc-Danner has any regrets, it is that such exponential growth cannot continue forever. However, he still has an ambitious goal for Weatherford — he is going to try to double the exponential growth of the company one more time. Watch Dr. Bernard Duroc-Danner's acceptance speech recorded at the awards gala in Palm Springs.

Financial Services - Thomas A. James, Raymond James Financial, Inc. Entrepreneurial drive showed itself early in the life of Thomas A. James. From selling corsages he made with his grandmother's orchids when he was 10 years old, to becoming a CEO at age 27, James's life is nothing short of thrilling. His innovative thinking, energy and expertise toward starting new ventures has taught him a lot about how entrepreneurs should conduct themselves in each stage of business. "You have to provide control to make sure things are getting started in a good fashion, and then every year, you sort of have to re-pot yourself in terms of the activities you're involved with and delegate more responsibilities to other managers. This is a hard thing for most entrepreneurs," says James. He truly believes that once the plan is in place, it's all about attracting the best people you can find. Watch Thomas James' acceptance speech recorded at the awards gala in Palm Springs.

Health Sciences - Jay Flatley, Illumina, Inc. In a world where computers were not yet a personal possession and rapid evolution of technology married the many discoveries in molecular medicine, Jay Flatley found his niche. Illumina has had a pivotal position in the development of personalized medicine through analysis of genetic variation and function. Because of Flatley's focus on innovation, he has made Illumina into an industry leader in genetic analysis. In less than nine years, Flatley has led Illumina from being a 24-person company to one with more than 1,000 employees. The company has advanced from the development stage to become the dominant player in its field, with a $500 million revenue run rate and a market cap of $4.4 billion. In what ways did he accomplish this? Flatley conducts open forums each quarter in various locations in which employees are encouraged to have an open dialog with him regarding concerning issues. No issue is too insignificant and getting things done has been the hallmark of this entrepreneur's success. Watch Jay Flatley's acceptance speech recorded at the awards gala in Palm Springs.

Media, Entertainment & Communications - David Liu, The Knot, Inc. In 1996 at a time when 80% of Internet users were male and size meant success, David Liu went against the grain and came up with an imaginative idea for a bridal services website. What began as an online catalog for brides to find invitation stationery, cakes, flowers, photography, dresses, favors and programs, it has also become a place to get ideas — ideas for wedding themes, transportation, unique venues and wedding customs. Because brides were still logging onto TheKnot.com to chat post-wedding ceremony, Liu came up with a scheme for TheNest.com, a place where a bride can take all the experience she gained from planning and participating in her wedding, put it up on her personal space and invite others to share their own experiences. NestBaby.com, the next logical step in extending the brand, was a website devoted to pregnancy and the newly born. A 2008 acquisition enabled Liu to change the acquired entity's pre- to post-natal website to a name in keeping with his own brand. The result? First, The Knot; then, The Nest; then The Bump. Watch David Liu's acceptance speech recorded at the awards gala in Palm Springs.

Real Estate, Hospitality and Construction - Alan D. Gold, BioMed Realty Trust, Inc. Core values of trust, loyalty and integrity enabled Alan Gold's company, BioMed Realty Trust, Inc., to achieve one of the fastest growth rates in the US. Gold attributes this success to the fundamentals of entrepreneurship — having a good idea and acting on it — but also to conducting business in a manner keeping with his personal philosophy of life. This philosophy of life transfers over to BioMed's mission statement: a commitment to "building quality relationships, developing exceptional environments for our tenants and contributing to the communities in which we work and live." This mission statement has proven to create success. Gold's company has established a strong track record of financial performance, and the original portfolio has grown through acquisitions and development to encompass more than 67 properties. Watch Alan Gold's acceptance speech recorded at the awards gala in Palm Springs.

Retail and Consumer Products - Tom Sullivan, Lumber Liquidators, Inc. For Tom Sullivan, President and Founder of Lumber Liquidators, Inc., it's not about a big, fancy showroom or a big, fancy location. It's about offering a good deal. That is why his first store was located in a garage behind a strip mall on Route 1 in West Roxbury, Mass. Despite the appearance of his first store, in less than five years, Sullivan had stores throughout New England and down the East Coast and had moved operations to an 80,000-square-foot facility in Va. Today, its home base is a 300,000-square-foot facility that includes production capabilities for its own Bellawood line of pre-finished hardwood flooring, a main warehouse, a store and corporate offices. But to Sullivan, it's the same business he started with when he held that first weekend sale. Watch Tom Sullivan's acceptance speech recorded at the awards gala in Palm Springs.

Services - James R. Barnes, OAKLEAF Waste Management It isn't easy being green, but done right, it can be profitable. Having started with a $40,000 loan from one of his friends and headquarters set up in a horse stable outbuilding in 1995, James Barnes's OAKLEAF Waste Management is now the most rapidly growing waste outsourcing company in the US. With 750 employees and a national network of 4,800 certified haulers, recyclers and waste diversion experts, the company has made a $15 million investment in developing its own sophisticated proprietary software to streamline communication, order processing and invoicing and to process more than two million transactions each month. It has been recognized nine times since 2001 by Inc. magazine and named four times to the Inc. 5000 list. Watch James Barnes' acceptance speech recorded at the awards gala in Palm Springs.

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