John Teel from Predictable Designs (a great resource for hardware startups, with a focus on electronic design & engineering) just launched his podcast, and I thought the third episode was quite interesting. The interviewee was Dave Millman of BizDev Global, a company that helps B2B tech startups find their first customers. Here is a summary of what he shared. … [Read more...]
7 Typical Pitfalls for Hardware Startups Producing in China
A few years ago, I remember reading about the Coolest Cooler, a nice product that raised an amazing amount of money on Kickstarter: over 6,000 people bought it for a total of 13 million USD!! Yet, they went bust leaving a lot of frustrated backers and interested onlookers scratching their heads as to where it all went wrong for one of the most famous hardware startups of recent times and indeed the most funded Kickstarter campaign of 2014. In this post, I'll explore what went wrong for them … [Read more...]
How to start manufacturing in 10 steps for Kickstarter entrepreneurs
This framework will help any entrepreneur who has successfully crowdfunded a product to understand how to start manufacturing. Now, what to do? What are the steps to have the first batch of products made in China? … [Read more...]
Incubators in China for Developing a new Electronic Hardware Product
Many articles have explained why Shenzhen is the best place to develop a new electronic hardware product that is targeting a high sales volume. If you want to do things faster and cheaper than in your home country, this is the place to be. Some founders stay in their country and work on the design, marketing, and distribution, and they pick a local partner for handling some of the engineering work. Others decide to relocate to Shenzhen -- these ones are often interested in getting help from … [Read more...]
Pros and Cons of Crowdfunding (Kickstarter/Indiegogo) for Startups
Crowdfunding has emerged as one of the main sources of funding for hardware startups (and many other ventures). Here are a few impressive statistics: 15 million people have backed a Kickstarter project since 2009. Backers pledged a total of 3.9 billion USD. More than 9 million people have backed an Indiegogo project since 2008. However, entrepreneurs need to think about all the pros and cons of raising money this way. If you are in this situation, here are are some … [Read more...]
Example of Indiegogo Project Made in China: NAOX
The number of new products to be launched on Kickstarter or Indiegogo has grown very quickly. It seems not a week passes without a start-up team contacting us over at Sofeast for either developing a new product or for help on their production in China. Some projects are very successful and raise important amounts of funding on these platforms. Most projects raise more modest funds and don’t receive much publicity. However, some are worth studying. Not just because their products can be pretty … [Read more...]
4 Tips for Production Launch of an Electronic Product in China
These days it seems more and more "hardware startups" are coming to Shenzhen and working with Chinese manufacturers to launch production of electronic products. And they typically find out that their supplier hasn't prepared correctly for the launch process. Many of these startups have little manufacturing experience and don't know where to pay the most attention. They tend to rely too much on the OEM supplier and overlook several critical factors that we listed below. … [Read more...]