Dosho Design's Founder Wins Entrepreneur of the Year Award; Founder of Bowflex Recognized for His Creation.ALBANY, Calif. -- Tessema Dosho Shifferaw, founder of Dosho Design, Inc. (DDI ddI and ddC: see AZT. ), was selected as the recipient of National Director's Award for Entrepreneurial Innovation, awarded by the US Department of Commerce's Minority Business Development Agency (MBDA MBDA Minority Business Development Agency (US Department of Commerce) MBDA Michigan Broadband Development Authority MBDA Minnesota Band Directors Association MBDA Matra BAE Dynamics Alenia MBDA Magnolia Ballroom Dancers' Association ) on September 12, 2005. This prestigious award honors individuals or organizations with an outstanding record of entrepreneurial innovation that demonstrates commercial utility, contributes to the public and private sector of the economy, and brings visibility to the national minority business enterprise community. MBDA granted this award for Shifferaw's invention of the revolutionary Bowflex exercise system and his creation of an exercise equipment line. "Dosho is a true innovator," said Ron Langston, National Director, MBDA. "His inventions revolutionized the fitness industry and continue to do so even today. Furthermore, it has made a tremendous contribution to the public and private sector of the economy". Dosho Shifferaw, an immigrant from Ethiopia, was elated. "I am honored to be selected for this prestigious award by the MBDA," says Shifferaw. "This is a story of the American dream American dream also American Dream n. An American ideal of a happy and successful life to which all may aspire: come true." Shifferaw's father was a general in the army of the late Emperor Haile Selassie in Ethiopia. A socialist revolution overthrew the emperor and stripped Shifferaw's family of nearly everything it owned. He came to America at age 17 with just $500 in his pocket and supported himself working as a cab driver cab·driv·er also cab driver n. One who drives a taxicab for hire. cab driver n → taxista m/f cab driver n → . While working on a student project at San Francisco City College, Dosho came up with the idea for the Bowflex exercise machine. He patented the concept and attempted to license the idea to fitness equipment manufacturers. Lacking vision, they all declined. He then wrote a business plan with help from the MBDA, and started marketing the product directly to consumers in the early 1980s. He led his company to a successful IPO (Initial Public Offering) The first time a company offers shares of stock to the public. While not a computer term per se, many founders, employees and insiders of computer companies have found this acronym more exciting than any tech term they ever heard. , forming a public company called Direct Focus, Inc. (DFXI) with a market cap of over $1 billion. Millions of Bowflex units have been sold in the United State and abroad, and the brand is now owned and marketed by The Nautilus nautilus, in zoology nautilus, cephalopod mollusk belonging to the sole surviving genus (Nautilus) of a subclass that flourished 200 million years ago, known as the nautiloids. Group (NYSE NYSE See: New York Stock Exchange :NLS NLS - Native Language System ). Dosho has 14 patents and 4 pending patents worldwide. About DDI: Dosho Design provides unique and innovative fitness products that are easy to use, fun, and effective at an affordable price. The company was founded by Dosho Shifferaw, the inventor of the revolutionary Bowflex, a highly successful and patented power rod resistance training system. Dosho Design's products are focused on making quick workouts worthwhile and efficient for people of all ages and fitness levels. The company designs and markets several products that offer cardiovascular, strength training, and core body workout. These products can be used at home, fitness centers, health clubs, and schools. Dosho Design is a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. located in Albany, CA. For more information, contact Dosho Design at www.dosho.com. |
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