By Robyn Donahoe
WisBusiness.com
WAUNAKEE — Fishing was first used as a means of survival – the better the fisherman, the more food. Today, fishing is a hobby as well as a sport. Ben Hobbins, founder, president and CEO of Lake Resources Group in Waunakee, has found a way to turn his hobby back into a means of survival – for the environment.
Hobbins, an avid outdoorsman, conservationist and Wisconsin native, has developed a patent-pending method and process that could transform soft bait lure technologies.
The technology that the “IronClad” lure offers is set to significantly reduce the release of soft bait lure waste into the environment. Each year, more than 12,000 tons of soft plastic lure waste is released into the environment by U.S. sports fishermen.
The IronClad lure claims to be made of stronger and more environmentally friendly polymer products. IronClad technologies locks lures nearly permanently to hooks and keeps the fish on the lure. It is a product that is easier to use, highly flexible, durable and allows uninterrupted catch after catch.
Hobbins believes the core technology has applications in fishing, hunting, boating, hospital and patient care industries, the military and a variety of other industries and products.
Lake Resources Group launched the IronClad line at the American Sportfishing Association’s ICAST50 Convention this past July in Las Vegas. The product, which placed just behind Goliath Pure Fishing – a $400 million company – in the “New Product Showcase Best of Show Soft Lure” category, had no trouble reeling in good reviews.
Much of that success can be traced to Hobbins.
With an executive MBA with a background in intellectual property, strategy and research, Hobbins is no fish out of water when it comes to business sense. He knows the value of building a network of supporters, backers and contacts.
Tim Osswald of the UW-Madison Polymer Engineering Center has been a consultant and shareholder of Lake Resources Group from the beginning. “The value he brings is core and not to be underestimated,” Hobbins said.
“His philosophy in renewable and sustainable plastics and technology development is core to Lake Resources Group philosophy in all industries for which we are developing products.”
This past spring, Lake Resources Group contacted the UW Business School for further support and guidance. The Business School worked with Osswalk’s Mechanical Engineering Group as part of a project with the Weinert School for Entrepreneurship.
These students were under the direction of Phil Kim of Weinert and the Lake Resources Group. The three students of the Weinert Business School Project are now shareholders in Lake Resources Group.
The Wisconsin Innovation Service Center at UW-Whitewater has been strongly involved in the initial phases of the business project validation process by conducting a New Product Assessment. They estimated the U.S. soft bait market niche at around $250 million. The Global soft bait lure market niche is estimated at more than $1 billion.
Cheryl Gain at the Wisconsin Department of Commerce and Brian Fairbrother of Wisconsin Manufacturing Extension Partnership “have been instrumental in their involvement and development, initial and ongoing, of Advanced Manufacturing technologies required for our patent pending processes and products,” Hobbins said.
Gain and Fairbrother have been great resources so far and Hobbins plans on utilizing their knowledge “more aggressively” in the near future as production continues and the company continues to grow.
Recently, Lake Resources Group has been joined by two respected area and Midwest outdoors spokespeople, Dan Small and Judy Nugent. As hosts of WPT’s “Outdoors Wisconsin,” Small and Nugent have a direct line to fishermen throughout the Midwest.
They were easily lured in at this year’s ICAST50. Nugent, along with numerous pro sportfishermen, were awed by the site of 10-pound dumb bells hanging off soft plastic lure tails. They are shareholders in the company.
Hobbins first looked to family and friends for support and the initial $375,000 investment. These funds are being used for operations as outlined in the original business plan and Hobbins says everything is right on schedule. Production quality products are currently being developed and Lake Resources Group aims to start deliveries sometime this winter.
Hobbins and his IronClads Soft Bait brands line will be the feature of many upcoming outdoors and talk shows including InWisconsin, Outdoors Wisconsin and Dan Small Outdoors.
Hobbins and his growing network of supporters won’t let this new technology be the one that got away.
Donohoe is a student in the UW-Madison Department of Life Sciences Communication.
