Morning Consult Opinion: Stronger Patents, More Startups, Better Economy, by Bryan Pate
This post originally appeared in Morning Consult on November 6, 2017.
I didn’t set out to start a company. However, in 2005 I had a problem that no one else had solved. After years of contact sports and serving in the Marine Corps infantry, my joints could no longer take the pounding from running. I wanted to continue exercising, but couldn’t stand being cooped up on an elliptical machine in the gym and always found bikes to have uncomfortable seats. So working with a friend, we invented a new machine – the world’s first elliptical bicycle. Thrilled with our success and excited to help others facing the same problem, we decided to form a company to manufacturer and sell our invention. In 2008, we left our jobs and the security of steady paychecks and founded ElliptiGO Inc.
As any entrepreneur will tell you, starting a company is a risky and expensive thing to do. Since most companies fail, it’s often the worst investment a company founder will make in their lifetime. Fortunately for us, many Americans take that risk every year, and the few who succeed generate tremendous benefits for our society.