"hardware startups" entries
A free compilation of chapter excerpts from our IoT library highlights the approachable complexity of hardware.
Download a free copy of “Building a Hardware Business,” a curated compilation of chapter excerpts from our IoT library.Over the last few years, we’ve seen an astonishing change in what it takes to build a hardware business. Hardware remains hard — executing it well requires technical and marketing expertise in several fields — but the barriers that startups must cross have been lowered considerably.
That change has come about as a result of several changes in the way the market approaches hardware.
- Customers, whether consumers or businesses, have become aware of what hardware and connected devices can do for them. The Internet of Things means more than connected refrigerators now. For consumers, it represents desirable products like the NEST thermostat and Apple Watch. For managers, it represents the highest standards of informed decision-making and operational efficiency in everything from delivery fleets to heavy machines to simple design-driven data.
- Connecting with those customers has become easier. Startups can sell directly to niche consumers through online channels with the help of Etsy, Tindie, and ShopLocket, which are vastly easier to deal with than big-box retailers. These platforms also return rapid market feedback and offer ways for companies to connect with their consumers and build communities without intermediaries.
- Funding has become available through new mechanisms at every stage. Crowdfunding helps entrepreneurs test their ideas in the marketplace and raise enough money for early development. Venture capitalists, impressed by recent exits and aware of the vast green fields awaiting the Internet of Things, are willing to invest. Supply-chain managers like PCH are willing to take equity stakes in return for invoice financing, addressing a critical cash-flow challenge that can be a big barrier to startups looking to have products manufactured in large quantities.
The 3Doodler is tapping a new market: People who want a 3D printer but can't afford one.
The 3Doodler is a 3D printer, but it’s a pen. This takes 3D printing and turns it on its head.
In fact the 3Doodler rejects quite a lot of what most people would consider necessary for it to be called a 3D printer. There is no three-axis control. There is no software. You can’t download a design and print an object. It strips 3D printing back to basics.
What there is, what it allows you to do, is make things. This is the history of printing going in reverse. It’s as if Gutenberg’s press was invented first, and then somebody came along afterwards and invented the fountain pen. Read more…