building lean-hardware-startups

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Presented for the first time at IDEAS Show in Taiwan, HAX goes through what it takes for hardware startups to be lean. Learn the easy way: join Hardvard!

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  • BY @HAXLR8R BUILDING GLOBAL LEAN HARDWARE STARTUPS H A X
  • TALK TO US! All this is on www.slideshare.com/haxlr8r We LOVE questions & comments! @haxlr8r @benjaminjoffe
  • HARDWARE STARTUPS
  • HARDWARE RENAISSANCE PROTOTYPING IS EASIER THAN EVER Arduino / Pi / Spark / 3D printing / Sensors / BLE / Smartphones / Cloud SUPPLY CHAIN IS BETTER THAN EVER China (Shenzhen) has the whole chain Fast, Affordable, Scalable MORE FUNDING KickStarter (250,000+ HW backers!), IndieGoGo More VC & Angel money, acquisitions
  • BE A MASTER OF THE PROBLEM What matters is the problem, not the solution!
  • The question is no longer: can we make it? But: what can we make thats worthwhile? Dr. Bjoern Hartmann Interactive Device Design Critical Making HARDWARE TODAY
  • LEAN HARDWARE OR MAPPING THE PATH TO HARDWARE STARTUP SUCCESS
  • Startup Accelerator for Hardware From Prototype to Business In Shenzhen & San Francisco HAXLR8R
  • 8 THINGS ABOUT HAX 1. 111 days 2. Shenzhen + San Francisco Demo Day 3. Up to $50k for 6%-8% 4. HAX team (DFM, EE, ID, sourcing) & 50+ mentors 5. 50 startups, 130+ founders 6. 60% Americas // 20% Europe // 20% Asia 7. IOT, wearables, robotics, etc. 8. 20+ crowdfunding campaigns, avg. $200k
  • FOUNDERS LEARN TO Position company & product Buy on Taobao Shop in Huaqiangbei Source on Alibaba Speak enough Mandarin Prepare a DFM Select factories Manage production Engage advisors Work with media Prepare for crowdfunding Scale Fundraise Enjoy the journey!
  • HAX MISSION: EMPOWERMENT 1. Build the right thing 2. Build things right 3. Ship fast
  • HARDWARE UNIVERSITY H A X
  • MONSTERS UNIVERSITY OR HARDVARD? H A X
  • HAX 4 GRADUATES 2 robotics 2 sports tech 2 health tech 1 green tech 1 3d printer 1 connected camera 1 smart city logistics
  • SPARK RAISES
  • MEDIA COVERAGE
  • LEAN HARDWARE PHILOSOPHY 1. Validate problem vs. Assume 2. Partner w/ factories vs. Abdicate 3. Fast to market vs. Long cycles 4. Capital effective vs. Capital intensive 5. User backed vs. Venture backed
  • 1. Validate problem vs. Assume 2. Partner w/ factories vs. Abdicate 3. Fast to market vs. Long cycles 4. Capital effective vs. Capital intensive 5. User backed vs. Venture backed LEAN HARDWARE PHILOSOPHY + HAX Approach Meaningful Aligned with founders
  • WHY CHINA FOR STARTUPS?
  • 3 OLD MYTHS IN 1 SENTENCE China only makes cheap stuff at scale and copies
  • TODAYS REALITY Your iPad Start from 1 unit IP is at risk if: Your product is trivial You pick the wrong partner Youre already successful
  • THE COST OF NOT BEING IN CHINA You have to consider the cost of not being in China. Will Hart Chief of Staff Spark.io (HAX 2)
  • WHAT ABOUT MY IP? Protection of IP can be complex manufacturing or product, community, and cloud based services. Idan Beck Founder gTar (HAX Fund)
  • KNOW-HOW Chinese factory engineers master the lost art of injection molding. On the factory floor you solve problems much faster, speaking Bunnie Huang Hardware Hacker Bunnie Studios (HAX Mentor)
  • WHY GO TO CHINA EARLY? Prototype better and faster PCBs overnight All the components you need Tools for prototyping Lost art of injection molding Design for manufacturing (much) Cheaper Build and scale fast Integrated supply chain Scale up from 1 to any number Prepare scaling before its painful Where is the mold?
  • WHY WOULD A LAOBAN CARE?
  • FOUR-AND-A-HALF REASONS 1. Future business 2. Improve capabilities 3. Use excess capacity 4. Internationalize 4.5 Fun The rest is up to you
  • STARTUP CHECKLIST
  • http://whatthefuckismywearablestrategy.com/
  • STARTUP CHECKLIST 1. Product Is something working 2. Skills Can the team make it 3. Spirit Resourceful, Optimistic, Persistent 4. Positioning New segment or new market 10x better in some way or different Something hard to do
  • BUILDING THE RIGHT THING INITIAL PROBLEM INITIAL SOLUTION INITIAL PROBLEM NEW SOLUTION NEW PROBLEM INITIAL SOLUTION NEW PROBLEM NEW SOLUTION INITIAL PROBLEM INITIAL SOLUTION
  • STARTUP CHECKLIST 1. Product Is something working 2. Skills Can the team make it 3. Spirit Resourceful, Optimistic, Persistent 4. Positioning New segment or new market 5. Demand Proof / Customer discovery 6. Distribution How to sell 7. Plan Beyond first product
  • NOT JUST HARDWARE Pure hardware can be copied Something hard to do HW + SW + Community Almost all HAX startups use an app / cloud Algorithms, something HARD to replicate Community (GoPro, Makerbot, Glass)
  • BEWARE OF THOSE 12 WARES wow such excite very hardware so future
  • FUNWARE 1. FUNware No business
  • CHINDOGU 1. FUNware No business Kenji Kawakami Chindogu pioneer (with tissue roll headgear + Fail-proof eyedrop glasses)
  • MORE CHINDOGU Baby mop Open eyes stickers Back scratching grid
  • FUNWARE 1. FUNware No business (includes NICHEware and ARTware)
  • EASYWARE 1. FUNware No business 2. EASYware Not defensible
  • EASYWARE 1. FUNware No business 2. EASYware Not defensible Two sensors and an app Nobel-grade research
  • PRESSY 1. FUNware No business 2. EASYware Not defensible PRESSY ($27) Funded Oct 2013 Raised $695,000
  • PRESSY 1. FUNware No business 2. EASYware Not defensible Speed Button ($10) (kuai anniu) Funded Jan 2014 Raised $34k
  • PRESSY 1. FUNware No business 2. EASYware Not defensible Xiaomi MiKey ($0.8) Launched April 2014 If Xiaomi starts producing buttons like Pressy, we will start to produce smartphones. - Founder of Pressy
  • SAMEWARE 1. FUNware No business 2. EASYware Not defensible 3. SAMEware Bad positioning
  • THE BETTER MOUSETRAP MYTH 1. FUNware No business 2. EASYware Not defensible 3. SAMEware Bad positioning Build a better mousetrap and the world will beat a path to your door Ralph Waldo Emerson (maybe)
  • THE BETTER MOUSETRAP MYTH 1. FUNware No business 2. EASYware Not defensible 3. SAMEware Bad positioning The problem with mousetraps 4,400 patents 400 applicants per year most frequently invented device in U.S. history
  • 47 companies launched 3D printers and raised $100K+ or more in crowdfunding. Source: Flybridge Capital Partners, 2014.6 COMMODITIZATION? Is it a commodity?
  • SOLUTIONWARE 1. FUNware No business 2. EASYware Not defensible 3. SAMEware Bad positioning 4. SOLUTIONware Solution looking for a problem
  • 1. FUNware No business 2. EASYware Not defensible 3. SAMEware Bad positioning 4. SOLUTIONware Solution looking for a problem When you have a hammer, everything looks like a nail THE HAMMER PROBLEM
  • VAPORWARE 1. FUNware No business 2. EASYware Not defensible 3. SAMEware Bad positioning 4. SOLUTIONware Solution looking for a problem 5. VAPORware Cant be made
  • BACK TO THE FUTURE HOVERBOARD 1. FUNware No business 2. EASYware Not defensi