Filipowski started with a small outfit that produced software for IBM mainframes, then went on to found an accounting and inventory-data software company called Platinum Technology.

FORBES: Silicon Prairie Dog

Further, whereas palladium is associated with gasoline-powered cars, manufacturers are working to evolve technology so they can also substitute some of the platinum with palladium in diesel-powered cars, Bhar said.

FORBES: Demand For Auto Catalysts Seen Picking Up

"The top firms are just okay, " says Robert Bernard, chief executive of Whittman-Hart, an information technology provider for businesses, backed by Frontenac Co. and Platinum Venture Partners, both of Chicago.

FORBES: Status seekers