Funding the Internet of Things in the UK

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Short talk given at the Design Museum at a Policy Connect event http://www.policyconnect.org.uk/apdig/events/design-innovation-and-technology-spring-reception

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Funding the Internet of Things in the UK

  1. 1. Funding the internet of things @iotwatch designswarm.com goodnightlamp.com
  2. 2. CEO of Tinker London 2007-2010 Good Night Lamp 2012- designswarm 2011-
  3. 3. When we embed connectivity in everyday objects. What happens when those objects are designed with an understanding of the affordances of the web. What is the internet of things?
  4. 4. Developing these kinds of products is •  More costly than building websites & apps (there’s a product!) •  More costly than just a product (electronics design & certification) The minimum viable budget is too close to the equity gap. The cost of innovation
  5. 5. Seed / Grants Incubators Crowdfunding VCs Angels Exit What you actually need 0 50K 100K 500K 1M Raising money
  6. 6. Seed / Grants Incubators Crowdfunding VCs Angels What you actually need 0 50K 100K 500K 1M Raising money in the UK
  7. 7. Seed / Grants Incubators Crowdfunding VCs Angels What you actually need 0 50K 100K 500K 1M Raising money in the USA
  8. 8. The UK’s advantage? Manufacturing power Design talent Web & Software talent
  9. 9. The UK’s challenge? £1M in funding isn’t enough when most early stage startups need between £150-£250K each.
  10. 10. Thank you. alex@designswarm.com @iotwatch designswarm.com goodnightlamp.com

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