hax @ hardware.co - 8 things
TRANSCRIPT
Things HAX Learned 8
65
Accelerating
Hardware Startups
STARTUPS PROGRAMS
80 7
YEARS
3
DAYS FOUNDERS& MENTORS
111 300
…and self-taught creators!
CATEGORIESRobotics, Health,
Manufacturing Smart Home,
Interfaces, Sensors
USA & CANADA
EU &ASIA
6 60% 40% 2/3
B2C
35
KICKSTARTER
$1M+$500K$100K<
LIVE!LIVE!KICKSTARTER.COM/HAX
LIVE!
“#1 VC in crowdfunding”
Already $20M-$50M within 2 years
Early HAX startups
STARTUPS SELECTED RATE
1,000 30 3% $25k-$100k
EQUITY
$200k
MATCHING FUNDS
“FULL STACK” ACCELERATOR
Prototype
Accelerator ($25k-$100k)Shenzhen
Launch Make Sell
+$200k BoostSan Francisco
YEARS IN ASIA
China, Japan, Korea
INDUSTRIEStelecom, web,
mobile, gaming, hardware
ANGEL INVESTMENTS
15 5 13 40+KEYNOTES,
PANELS(past 12 months)
12COUNTRIES
China, Japan, Korea, HK, Taiwan, USA,
Canada, UK, France, Austria, Germany,
Finland
MONTHS AGO PAGES INSPIRATION
(Mary Meeker)
3 192 1 200+
STARTUPS
128,000
VIEWS
VRAR
Desktop RoboticsIndustrial Robotics
Home RoboticsService Robotics
WearablesSports tech
Health techPet tech
Robots for pets!
YOU’RE NEVER ALONE (almost)1
$502,310 (Feb 2015)
$100,380 (Jul 2014)$137,356 (Nov 2013)
$79,939 (Mar 2014)
60% 20% 20%
MAKE SOMETHING (very) DIFFERENT2
MAKE SOMETHING (very) DIFFERENT2
MUCH BETTER
Speed / Price / Quality / UX
10x
THINK ABOUTSWITCHING COSTS
MAKE SOMETHING (very) DIFFERENT2
MUCH BETTER
Speed / Price / Quality / UX
10x != TOTALLY NEW
Do people need it? You are building a new market. It’s much harder.
THINK ABOUTSWITCHING COSTS
or
PRICE+
UX
LAUNCHING SOON ON
KICKSTARTERSPEED
+QUALITY
40,000 backers $2M pledged
PRICE+
QUALITY
ELECTROLOOM
VERYDIFFERENT
2,000V-19,000V (<500 microamps)Liquid polymer Prints fabric!
MAKE SOMETHING HARD (to copy)3
Xiaomi[ɕawmi]
A global smartphone and consumer electronics manufacturer (and investor) based in China.
+ Sold 60m phones in 2014 + Worth $46B in just 4 years
Xiaomization
The commoditization of consumer electronics segments thanks to disruptive pricesand high quality.
$24$16$13
$64
$18
16,000mAhpower bank
1$
Smart button
Miband tracker Bluetooth speaker IP camera
Action camera
$41
Headphones
$639
4K TV screen
vs.
1999
$3,000$6,000
2012
Ninebot gets$80M investment,
buys Segway
2015
WHAT IS HARD?*Assuming you solve Hardware & Manufacturing
WHAT IS HARD?
SCIENCE
Biotech, Nanotech, Materials, Medicine,
etc.
*Assuming you solve Hardware & Manufacturing
WHAT IS HARD?
SCIENCE
Biotech, Nanotech, Materials, Medicine,
etc.
*Assuming you solve Hardware & Manufacturing
SOFTWARE
Algorithms AI
WHAT IS HARD?
SCIENCE COMMUNITY
Biotech, Nanotech, Materials, Medicine,
etc.
*Assuming you solve Hardware & Manufacturing
SOFTWARE
Algorithms AI
Developers Users
16 USD
USE THE BEST SUPPLY CHAIN4
re-shoring? near-shoring? let’s get real!
SHENZHEN
SILICON VALLEYThe siliconhas left
it is now in
$45
One week in Shenzhen= One month in Silicon Valley
JAN 2013
“The Shenzhen supply chain is just
incomparable.”
MAY 2015
JAN 2013
The BEST of BOTH Worlds
SHENZHENPROTOTYPING,SUPPLY CHAIN
The BEST of BOTH Worlds
SHENZHEN SILICON VALLEY
PROTOTYPING,SUPPLY CHAIN
STARTUP ECOSYSTEM,MARKET ACCESS
STRATEGY
SOURCING
DESIGN
BUILDING
111 DAYS
SHENZHEN
LAUNCH
MEDIA
PARTNERS
DEMO DAY
SILICON VALLEY
+
“We’re most likely to be successful connecting with Shenzhen than
competing with it head on.”
Joichi ItoDirectorMIT Media Lab
SHENZHEN SILICON VALLEYYOU + +
Leverage the best resources
CROWDFUNDING IS NOT A CRYSTAL BALL5
50 24
Million-dollar campaigns?
Niche / Easy Funded (>$1M) Similar Repeater Celebrity
“Natural”2/3 1/3vs.
FAILED ONCE, $500K NEXT
Dec 2012
$185,576 pledged 609 backers
400 BACKERS + $70,000
40,000 BACKERS + $2M
GET GOOD ENOUGH AT MANY SKILLS 6
EEMECSID
BUILDPROTOTYPE
GET GOOD ENOUGH AT MANY SKILLS 6
SourcingManufacturingSupply chain
CrowdfundingPR
FinancingFundraising
EEMECSID
BUILDPROTOTYPE
LAUNCHBUSINESS
Never seen a factoryFirst time in ChinaSpeak no Chinese
Before HAX
Never seen a factoryFirst time in ChinaSpeak no Chinese
Before HAX
“Wow!” demoSupply chain setReady to launchReady to scale
After HAX
Chris Anderson CEO, 3D Robotics
“Before you had 6 YEARS Today you have 6 MONTHS”
SHIP FAST7
AN EMAIL WE RECEIVED…
From: [email protected]
This Kickstarter is exactly like usbut with better design.
It feels like a nightmare.
Any suggestion?
FINANCE WITH CARE8
PROVEN TEAMGREAT DEMO
SHIPPING & SELLING TONS$M CAMPAIGN
UNPROVEN TEAM
NOT SHIPPING<$1M CAMPAIGN
NOT SELLING
SHIP A FIRST PRODUCT
FAST FOR THE
LEAST CASH
“LEAN HARDWARE” APPROACH
$1M from Customers vs. $1M from VC
SUMMARY
SHIP FAST7
GET GOOD ENOUGH AT MANY SKILLS 6
CROWDFUNDING IS NOT A CRYSTAL BALL5
USE THE BEST SUPPLY CHAIN4
MAKE SOMETHING HARD (to copy)3
MAKE SOMETHING (very) DIFFERENT2
YOU’RE NEVER ALONE (almost)1
FINANCE WITH CARE8
THE NEXT WAVE?
We have “connected” or “smart” things
Is this the future?
Could we make things intelligent and autonomous
?
Have computers in things Run apps on things
WELCOME by Netatmo
Too few + Not cheapNEST Thermostat
$250$200
40,000 BACKERS + $2M
+
CAMBRIAN MOMENT
Software Creativity Wisdom
What will matter:
WHAT IT IS… IS UP TO US
