Crazy cool or boring - what good hardware startups look like
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The document discusses Benjamin Joffe's talk about robotics startups that have been funded by HAX, including insights from each company. Some of the startups discussed include Makeblock (2012, 500+ staff, $36M funding), Avidbots (2014, 80 staff, focused on industrial applications), and Simbe Robotics (2015, focused on supermarket inventory automation). Key lessons mentioned are finding real customer needs, developing solutions simply and cheaply, prioritizing speed to market over raising money, and pivoting based on customer feedback. The talk addresses both past and potential future trends in robotics, including a growing focus on artificial intelligence and automation.
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Crazy cool or boring - what good hardware startups look like
- 2. @benjaminjoffe - ben@hax.co Hi Poland!
- 3. @benjaminjoffe - ben@hax.co #1 Early stage hardware fund
- 4. @benjaminjoffe - ben@hax.co > 150 startups from US / EU / Asia
- 6. @benjaminjoffe - ben@hax.co Shenzhen & San Francisco
- 8. @benjaminjoffe - ben@hax.co But first, a little story…
- 12. Our Challenges • Seeing beyond the prototype • Imagining markets • Not getting over-excited by technology • Sense grit and resourcefulness Humble beginnings
- 13. Talk Summary • Find real needs • Simplify & make it cheaper • Be fast & frugal • Raising money isn’t cool, customers are
- 14. @benjaminjoffe - ben@hax.co Let’s talk robots
- 15. @benjaminjoffe - ben@hax.co What SciFi tells us
- 19. @benjaminjoffe - ben@hax.co What we have
- 21. @benjaminjoffe - ben@hax.co The next wave
- 26. @benjaminjoffe - ben@hax.co 500+ Staff $36M funding B2C / B2G
- 27. Insights • Chinese + Shenzhen • Global mindset • Profitable from start!
- 28. @benjaminjoffe - ben@hax.co Would we fund this in 2018?
- 31. Insights • ‘Canada factor’ • [Talent / Entrepreneurs] ratio is high • Gov pays back >35% R&D • Access to U.S., global mindset • Trade show => Customers (Singapore, Australia)
- 35. @benjaminjoffe - ben@hax.co 80 staff B2B
- 37. @benjaminjoffe - ben@hax.co Would we fund this in 2018?
- 38. @benjaminjoffe - ben@hax.co 2014 Cell Robotics
- 39. HOW MUCH??
- 42. @benjaminjoffe - ben@hax.co 35 staff B2B/B2G
- 43. Insights • ‘China factor’ • Enough funding for B2B / B2G pivot
- 47. @benjaminjoffe - ben@hax.co Raised $10M
- 48. @benjaminjoffe - ben@hax.co Would we fund this in 2018?
- 49. @benjaminjoffe - ben@hax.co 2014 Sprite Robotics / Petronics
- 52. Insights • ‘Illinois factor’ • PhDs • Persistence • 1 believer • High tech at low cost
- 53. @benjaminjoffe - ben@hax.co 2015 Simbe Robotics
- 54. @benjaminjoffe - ben@hax.co Supermarket inventory
- 56. U.S.A.
- 57. Insights • Willow Garage • “Prototype effect” • Milestones: Launch video + pilot customer
- 58. @benjaminjoffe - ben@hax.co Would we fund this in 2018?
- 60. + ?=
- 61. @benjaminjoffe - ben@hax.co Thesis: Robots will teach humans
- 62. 1 prototype / week !
- 65. @benjaminjoffe - ben@hax.co 2016 Flash Robotics
- 70. Insights • Time to market • Consumer price • Persistence • Customer pivot
- 71. Polish Product of the Future competition (20th Edition) Special Award by Jadwiga Emilewicz, Minister of Entrepreneurship and Technology
- 75. @benjaminjoffe - ben@hax.co Would we fund this in 2018?
- 77. @benjaminjoffe - ben@hax.co Vehicle inspection
- 79. Insights • Clear pain point • First application • Industry partner (Michelin)
- 80. @benjaminjoffe - ben@hax.co Before I go…
- 83. @benjaminjoffe - ben@hax.co Recent acquisition
- 84. John Deere buys Blue River for $305M 2012 2017
- 85. @benjaminjoffe - ben@hax.co On Indiegogo
- 87. @benjaminjoffe - ben@hax.co Automation with A.I. has a bright future
- 88. Overall • SciFi is mostly wrong • The bar keeps raising • More B2B • More A.I. / ML
- 89. Summary • Find real needs • Simplify & make it cheaper • Be fast & frugal • Raising money isn’t cool, customers are
- 90. If (! + " + #$%&' + ( + )) then *+
- 91. @benjaminjoffe - ben@hax.co Dziękuję ! @benjaminjoffe ben@hax.co