Hax asia introduction to deliverables

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  • 1. HaxAsia – Introduction and Deliverables
  • 2. How it works We give money for startup team to finalize prototype before they join program Teams come to Singapore to develop commercial product and test it Teams come to San Francisco to launch crowd- funding campaign and gets media exposure Startups that reached their CF goal come to Beijing to work on pilot batch production with Foxconn HaxAsia helps build successful hardware business out of Singapore – within 6 months startup either becomes global success or dies. No living-deads companies. Fuel the eco-system
  • 3. Startups may have cool technology, but they fail to pack it into the product HaxAsia vets startups not on the basis how cool their product is, but how fundamental and potential technology is. Then we use our mentors network to help validate potential market case. We can give up to 20K SGD to finalize the functional prototype before they join program. Step 0 30 days
  • 4. Teams join the accelerator program in Singapore to develop commercial prototype with sleek commercial design and physical sample. Then test it on users and validate use-cases. Only those teams who validated their product, go on the next step of program. We use IDA Labs as the hub to help design, test and validate products. Design is important, but use-cases are critical Step 1 30 days
  • 5. 1. HaxAsia partners with BootStrapLabs to help companies launch crowdfunding campaign including advisory services on crowdfunding video, social and digital marketing, reaching out to media, communicating with backers. We did campaigns ourselves and know every detail 2. We attract mentors who did the most successful CF campaigns, like Palmer Luckey, founder of Oculus (raised $2.4 mln on Kickstarter, and 90 mln from VC, Tan Le CEO of Emotiv ($1.6 mln) and marketing experts like CEO of the top Silicon Valley firm VSCPR, that ran several multi- million campaigns 3. At the end of the day, crowdfunding is not about raising millions, but validating the market case and getting enough money to start production Step 2 45 days HaxAsia and BootstrapLabs co-run program in SF to help launch crowdfunding campaigns
  • 6. 1. HaxAsia partners with InnoConn (newly-created Foxconn DFM facility) to help your produce the first batch of devices on time and with high quality 2. Foxconn can help you ramp up production volume quickly – ie you need to meet Xmass retail launch this year – they can help launch it 3. Foxconn has their own venture fund (that invested in GoPro and others) and can invest in your company at A-round 4. As part or program, we also help you develop Go-To-China plan and find joing venture partners. Step3 2 60 days China is still the plant of the world. Foxconn is the best at quality
  • 7. Deliverables of Stage 1 - Singapore High Level Deliverable Time Description Crowdfunding Assets 70% ID sample DFM and BOM Landing Page Product use-cases Video Questions and FAQ Campaign page Marketing 20% Strategic marketing plan Social media accounts Testing digital marketing channels Affiliate partners Conferences and exhibitions plan Corporate 10% Company, bank account, IP, trademark Investment deck
  • 8. • At least ID dummy sample for video before filming session starts – see Filming Schedule • Working ID sample by end of Singaporean part of program to qualify for the next stage of program (You will need to demonstrate such ID sample to media) • ID sample should be sleek and should have unique original design. Remember that American consumers are very demanding and make their purchase decisions mostly on how the product look like rather than what it actually does. • If you project doesn't require high quality ID and we confirmed that, then it is important that your samples you show on video at least look good and you concentrate most of attention on apps, design or experience (Note: we shud confirm, that your project may launch CF campaign without high-quality design) • Mechanical design can be temporary and can be finalized on the third stage (once you've raised money on CF) Crowdfunding Deliverable – ID sample
  • 9. • How your product can be used, by whom, why and where • Development and testing of product use cases offline and online • First you should come up with some 10-12 different use cases by yourselves • Then narrow down to 3-4 main use cases via series of tests, discussions, focus groups and Facebook posts • Focus groups typically make sense for products that needs to be tested in person (you need to have actual ID sample for this) • Facebook posts are good way to test reaction - just create one post on each use case with photo (can be rendered one), promote this post to relevant audience using advance post promotion (is interests) and check conversions to Like/Shares/Comments, those with best ones, are typically those you shoud target fro your CF campaign • You shud create high quality images/photos for your main 3-4 use cases with people using product in real life situations (avoid render at this stage) – for website and CF page Crowdfunding Deliverable – Use Cases
  • 10. • Purpose - collect emails of potential backers • Key requirement: + you should be able to pitch your idea efficiently via images and short headers + integrate mailchimp sign up form + Google analytics + be short • Examples: www.atoichjet.com, www.smartstones.co, http://www.keyrious.com/ Should be just one page, but may be with several blocks like www.thetileapp.com • We can provide template website developed based on the Tile website • Focus mostly on use-cases and why this product is needed, where it is used • High quality images in advance - ideally shoot them during your filming session by attracting professional still photographer • At least one high quality close-up shot of your product with high-quality lighting - you may start from rendered one though (Innozen can provide those) • You may have the plan to evolve your landing page on weekly basis by testing images, messages, analyzing how conversion works, and how people browse • Good conversion is generally about 5% from visitors to sign up - if you are able to achieve this you may start spending marketing dollars on generating more traffic Crowdfunding Deliverable – Landing Page
  • 11. • Two versions should be created using the same shooting materials • Trailer video: • up to 1 min long video showing mostly use cases • ideally you should avoid using subtitles and voice - just video and music - be clear what it is and for • use it for landing page and youtube channel • try promote it with smaller budget on FB, Youtube (Google Display) - see conversions to sign ups, if it is good (5% of more), the you can consider allocating more budgets • consider using animation if it helps communicate your product ideas better • Crowdfunding video: • 3-4 min version with interview, product use-cases, lab shots etc • test it with your inner circle and make sure all main questions are answered Crowdfunding Deliverable – Video
  • 12. • Making sure your design can be manufactured (if you work with Innozen, then it automatically happens, if not, we need to discuss the plan) • Getting rough quotes on molding prices - estimates can be provided by Innozen, otherwise need contact contract manufacturers and molding companies directly • Getting quotes from at least two contract manufacturers in electronic components for bill of materials for 1,000 and 5,000 pcs (even if it is a preliminary PCB design) • in case you need to check prices on specific high value components in China, we can provide freelancer on help on this Crowdfunding Deliverable – Design for Manufacturing and BOM
  • 13. • The main question for CF: • early bird's offer price and package • main target offer - price and package • pledge levels • delivery time • Plus collecting questions from users and building FAQ. Once you reach out to users, they will start asking the questions. Make sure you keep collecting and addressing those questions by: • amending your messages and product use cases • building FAQ section for website and CF page • being ready to shoot additional explanatory videos and images that can be used for campaign main page and updates and/or your blog on the website once you launch campaign Crowdfunding Deliverable – FAQ
  • 14. • Find good reference pages of similar campaigns • Create the picture content • Create the wording • Ask your friends and some close backers to evaluate your CF page • DO NOT PUBLISH IT!!! Crowdfunding Deliverable – Campaign Page
  • 15. Mandatory Corporate Deliverables for Stage 1 Deliverable for ALL Time Register company in Singapore as Private Limited 1 week Open bank account in Singapore 2 weeks Setting up Paypal account for CF in Singapore 3 days Register product and domain (on the company) 1 week Logo and namecards 1 week File the trademark application or at least get clearance 2 weeks Prepare patent applications 2 weeks Develop certification plan or get info what is required 3 weeks Prepare the investment deck 2 weeks Create Angel List profile and develop it 1 week Conferences plan and registration for Stage 2 1 week Demo and registration for Glazed Conference 4 weeks
  • 16. Optional corporate Deliverables for Stage 1 Deliverable for ALL Time Filling the roles in your team - finding executives that can be keen to join your company to help with marketing/bizdev in Asia 4 weeks Apply for iJam grant - subject to meeting formal criteria (ie local cofounder) etc 3 weeks Apply for employment passes for founders if you target to raise follow-on funding from HaxAsia and our partners 4 weeks Develop relationship and pitch to local distributors and corporate partners 4 weeks Get quote from DHL Global to ship your product from Asia worldwide 4 weeks
  • 17. • The main launch marketing methods: • Press release and media list • Facebook community / Twitter community • Youtube channel • Digital Ads - test conversions (up to 2-3% of target price per sign up) • Affiliate partners programs and partner campaigns • Blog on website • Conferences and pitch events • To ensure the high chances of success, you need to have all of the following: • at least 1000 sign ups on the landing page before launch (considering 10% conversion it can bring you 100 pledges in the first 48 hours) • at least 50 friends ready to pledge in the first few hours • a few media and journalists ready to cover your launch Marketing and PR Deliverables for Stage 1
  • 18. Thank you! Questions?