28 Apr Why Hardware Startups Fail to Deliver
We’ve seen it play out over and over. A hardware startup goes down the crowdfunding route, successfully raises money and then misses its first delivery timeline. A few months go by, and the team misses its timeline again. If you are lucky, you eventually receive the product but in many cases the company just folds. Less than 40% of Kickstarter projects are successfully completed. Why is that?
A few reasons:
- A prototype is not the same as a finished product that can scale.
- Your Arduino Kit is not proof of concept.
- Even with hardware, it’s all about the software.
- Inability to form the right teams with the right skill set.
- Teams get caught up in manufacturing hell.
Five years ago, the main question was “what’s your mobile strategy?” Today the question is more like “what is your IoT strategy?” A technologist needs to be well-versed in both hardware and software to maintain a competitive edge, and as we’ve learned over the years, it’s not easy to deliver.
“Dialexa anticipated the hardware revolution when it first formed nearly five years ago, when most companies were only discussing their mobile strategy. It’s an honor to host Scott Miller, cofounder and CEO of Dragon Innovation in Dallas to help startups or those working on hardware projects avoid some of the most common pitfalls,” said Scott Harper, cofounder and CEO of Dialexa.
Dragon Innovation, based in Cambridge Massachusetts, provides a clear path from prototype through production with unmatched manufacturing expertise and trusted connections working closely with entrepreneurs to launch hardware products and scale companies. Dragon’s client roster includes Vinli, Coin, MakerBot, LIFX, Scout, Romotive, Sifteo, Orbotix, FormLabs and over 100 additional companies paving the road for how new technology gets made.
“We hosted Scott Miller at Dialexa last year and the event was sold out. It was so incredibly engaging and informative that we had several requests to bring him back so this time we teamed up with the Dallas Entrepreneur Center (The DEC) to host an even bigger event. Scott Miller is the person you want to learn from if you are working an early stage hardware startup,” said Jeanette Cajide, Vice President of Corporate Development for Dialexa.
The event, “Why Hardware Startups Fail to Deliver with Dragon Innovation’s Scott Miller” is this coming Thursday, April 30, 2015 starting at 6:00 p.m. Food and beverages will be provided. The presentation will start at 6:30 p.m. If you are interested in attending, please RSVP here. The event will be held at the DEC, 311 North Market Street, Dallas, Texas 75202.