#StartupsEverywhere Profile: Attila Madarasz, Founder and Managing Director, BAM Concepts
This profile is part of #StartupsEverywhere, an ongoing series highlighting startup leaders in ecosystems across the country. This interview has been edited for length, content, and clarity.
Improving Everyday Consumer Products
Located in the rapidly growing Charlotte metro region, BAM Concepts is working to evaluate consumer products, such as razors, and then use technology to improve their benefits for consumers. We recently spoke with Attila Madarasz—one of BAM Concept’s three founders and the firm’s managing director—to learn more about the startup’s mission, the Charlotte ecosystem, and the company’s goals moving forward.
Tell us a little about yourself. What is your background?
I’m the former CEO of U.S. operations for a German power tool company. I’ve always been in international product management or sales development roles, so I’ve done a lot of business all over the world. I’ve been to 40 countries with my career and personal life. I really like looking at opportunities that have an international component to be successful. I feel like one of the experiences I’ve gained is understanding how business operates in different cultures, whether you’re in North America, South America, Europe, or Asia. That’s going to be important for our current project.
Tell us more about BAM Concepts. What is the work that you’re doing?
I have two partners—one is a scientist behind the technology, and the other has been helping support the business from an IP and compliance perspective. My job has been to develop part of the product offering, business plan, financial model, and strategy along with raising capital. I’ll be responsible for launching it, and then I’ll be responsible for setting up operations to nurture this company as it grows. We feel that all three of us have something unique to bring to the table, which is why we have the name BAM Concepts. It stands for Bill, Attila, and Mike as an acronym.
One of the exciting aspects of BAM Concepts is that we believe it will be a global project because it relates to something every human being can relate to, which is shaving. That’s something that most people do around the world. Some studies show that second and third world countries are starting to spend more money on personal grooming now more than ever, and that the middle class is rising. So we feel—for that reason as well—that our product will be hitting the international market at the right time.
I know BAM Concepts is located in South Carolina, but you’re not very far away from the border with North Carolina. What makes your local startup community and region so unique?
I always feel this side of the border has been in the shadows of Charlotte. Charlotte is one of the fastest-growing cities in the country. The city proper is starting to run out of space, so now you’re seeing a lot of the suburbs blending in or connecting with the city.
Here in Tega Cay, we’re becoming more connected to the city in many ways. We’re seeing a lot of people who work in Charlotte living here. There’s a good quality of life, taxes are lower, and there are excellent school districts. And many people commute from here into Charlotte. So we’re kind of defining ourselves and saying we won’t be in the shadow of Charlotte, but we’ll effectively be part of Charlotte. You see that with industries coming here and people moving here and companies starting up here. It’s really starting to feel like a part of Charlotte proper.
The new owners of the Carolina Panthers recently announced they’re building a brand new training center in the next town over, Rock Hill, which is about ten miles down the road. They’re talking about perhaps having the light railway extended through this area all the way down there, so that people can get back forth from the training center to Charlotte.
So you’re seeing a lot of positive growth coming in this direction. As a result, you’re also seeing a lot more entrepreneurs feeling like they have access to the resources in North and South Carolina that they need to launch.
What startup issues and concerns do you believe should receive more attention from federal and state policymakers?
The Charlotte region is one of the fastest growing startup ecosystems in the Southeast. You have a lot of money here, and you have a lot of financial institutions and tech startup companies.
In the South, though, you don’t find as many investors willing to hand over checks for opportunities like you do in more mature markets like New York City or in Silicon Valley. But this new drive for the local ecosystem is starting to change the culture and mindset. We’re seeing the ecosystem developing, but I think the government is probably a half a step behind. The more local people put the effort into it, the more the government will come to a realization and see what other assistance it can provide.
I think the federal government should consider certain tax breaks or incentives—more than they’re offering today—for startup companies. There are a lot of established companies that have been around here for awhile, but a lot of companies will also move overseas, or be bought out, or go bankrupt. So how do you backfill the U.S. economy’s pipeline? You do that by allowing startups like us to have a chance to become successful and grow, and maybe one day turn into one of those Fortune 500 companies.
Right now, I feel like a lot of the energy and support is coming from within the community—meaning startups and investors. Most startups don’t even know how to get in touch with the government to ask for or receive help. So I think there needs to be some sort of effort to educate the startup world about what’s available and what’s coming down the road to help them out.
What is your goal for BAM Concepts moving forward?
There’s been a major trend over the past seven or eight years in terms of getting more value for your investment as a razor user. That trend has made companies like Harry’s and Dollar Shave Club become successful because they’ve found a model that brings more value for less money.
One of the things BAM likes to do is evaluate everyday consumer products and find out how technology can make them better for the consumer. We’re currently developing technology that doesn't have to fight in the razor space, but more or less compliments it in a way that allows consumers to get more benefits than ever before.
We’re looking to grow very aggressively in the coming years. We expect this to really explode through social media, through digital marketing, and through word of mouth. We really want to create a new mindset to think about how shaving happens. We expect this to grow like gangbusters. So our five-year plan is to have 15-20 employees to support this massive growth. We’re going to be a B2C company, where we’re selling directly to the public, and so we want to ensure a top-notch customer experience.
All of the information in this profile was accurate at the date and time of publication.
Engine works to ensure that policymakers look for insight from the startup ecosystem when they are considering programs and legislation that affect entrepreneurs. Together, our voice is louder and more effective. Many of our lawmakers do not have first-hand experience with the country's thriving startup ecosystem, so it’s our job to amplify that perspective. To nominate a person, company, or organization to be featured in our #StartupsEverywhere series, email edward@engine.is.
