Arab American Owned Michigan Technology Company Receives Microloan from the State of Michigan

posted on: Sep 23, 2010

iQ-Telematics, a Pioneer in Driver Distraction Mitigation solutions received $15,000 in funding from the State of Michigan Microloan fund.

“The Michigan Microloan Fund Program award enabled us to meet critical immediate needs, including securing patents in the United States and Europe and launch a fourth Marketing Analysis project with a Michigan university to quantify customers’ needs” said Mouhamad A. Naboulsi, president, iQ-Telematics. “We’ve also leveraged the microloan funding to attract attention from other investors and we expect answers later this year.”

Mr. Naboulsi further explained that “The fund also allowed to participate in the National Driving Distraction summit sponsored by Secretary LaHood, where in a private conversation with NHTSA officials who reviewed our device, expressed interest in the overall all capabilities of the device and “unofficially” encouraged us to pursue marketing to Parents and Fleets were they see the greatest immediate need in the aftermarket. Coincidently, our previous Market research showed 74% of Parent Age group that saw our demo want to purchase the device for their children, even children over the age of 21.”

iQ-Telematics will be exhibiting their device again at the Governors Highway Safety Association, (GHSA.org), meeting September 25th through the 29th in Kansas City, MS. This year’s conference is themed “Technology and Highway Safety: What’s driving Our Future?”