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The next big thing
that’s still very small
Alexandra Deschamps-Sonsino
@iotwatch
About me
First UK distributor of electronics education tool Arduino
London Internet of Things meetup organiser since 2011
...
Clients
The internet of things
Embedding cheap hardware onto a ‘thing’.
Making sure that the hardware can connect to a network.
Ma...
Invention
Extending the unique properties of an existing thing.
Creating a whole new thing.
Creating a whole new behaviour...
There are as many potential applications as there are things
Examples: Home autonomy
Lively! (US) Glowcaps (US)Kemuri (UK)
Ignius (UK)
Olitool (UK)
Smart sole (US)
Examples: Health & Safety wearables
Examples: Small Infrastructure
Buffalogrid (UK) Hello Tracker (Kenya)Farmbot (US)
Examples: Waste management
Winnow (UK) CupClub (UK)
Examples: Home
British Gas Hive (UK) Ding doorbell (UK) Bleep Bleeps (UK)
Health
& Safety
Home
Ed Tech
Work
Transport
Industrial
Elderly
care
Environment
Environment
Conservation
Independent
Livin...
Software platform
Software platform
with hardware partner
Own hardware and
software platform
What do most people build?
Am...
Software platform
6mo-1year
Software platform
with hardware partner
1-2 year
Own hardware and
software platform
2-5 years
...
The financial environment
No larger seed funds dedicated to internet of things
Minimum viable investment in hardware: £150...
Making things is much easier
Designing a supply chain in Europe or Asia is much easier.
There are yearly trips for entrepr...
What £150K should buy you
A reasonable tech & marketing team (4-5 people)
A small supply chain
A small batch of production...
Yes that’s probably more than you want to invest
Invention has always come at a cost that was higher than software.
Invest...
What an exit looks like?
Selling to a large industrial player who wants the team
Selling to a large FMG company who doesn’...
The right questions to ask the teams you meet?
Where do you want to sell the product?
Who is missing on your team?
Who do ...
What lies you will always be told
We have other product ideas in the pipeline (but they haven’t been
selling their first o...
Be forgiving.
There is no easy seed money in this space apart from
incubators (10-15K for 3-4 months).
So they’re super ex...
A checklist for their first year (bootstrapping)
A mix of tech & marketing team (2-3 people is ok)
Good PR lists or links
...
A checklist for their 2-3rd year (post £150K)
Pre-production samples being tested with customers
More PR
Small supply chai...
A checklist for year 4: Go!
Crowdfunding (May-June)
Pre-orders throughout the year
A promising Christmas (if consumer)
Where do you find them?
Attend a local #iot meetup or subscribe to their newsletters
(iot.london/meetup.com)
Talk to the m...
Changing the physical world takes time.
Get involved!
Alexandra Deschamps-Sonsino
alex@designswarm.com / @iotwatch on twitter & instagram
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The next big thing: it's still very small.

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Talk given at Fund Forum in Berlin on June 14th 2017.

Published in: Design
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The next big thing: it's still very small.

  1. 1. The next big thing that’s still very small Alexandra Deschamps-Sonsino @iotwatch
  2. 2. About me First UK distributor of electronics education tool Arduino London Internet of Things meetup organiser since 2011 #iot strategy consultant Writing a book on smart homes for Apress Founder of Good Night Lamp
  3. 3. Clients
  4. 4. The internet of things Embedding cheap hardware onto a ‘thing’. Making sure that the hardware can connect to a network. Make sure the network can collect the data and lead to actionable information for the user and the business.
  5. 5. Invention Extending the unique properties of an existing thing. Creating a whole new thing. Creating a whole new behaviour around a thing.
  6. 6. There are as many potential applications as there are things
  7. 7. Examples: Home autonomy Lively! (US) Glowcaps (US)Kemuri (UK)
  8. 8. Ignius (UK) Olitool (UK) Smart sole (US) Examples: Health & Safety wearables
  9. 9. Examples: Small Infrastructure Buffalogrid (UK) Hello Tracker (Kenya)Farmbot (US)
  10. 10. Examples: Waste management Winnow (UK) CupClub (UK)
  11. 11. Examples: Home British Gas Hive (UK) Ding doorbell (UK) Bleep Bleeps (UK)
  12. 12. Health & Safety Home Ed Tech Work Transport Industrial Elderly care Environment Environment Conservation Independent Living Food Safety & Security We could be here all day…
  13. 13. Software platform Software platform with hardware partner Own hardware and software platform What do most people build? Ambition for innovation
  14. 14. Software platform 6mo-1year Software platform with hardware partner 1-2 year Own hardware and software platform 2-5 years Time & money Time to launch
  15. 15. The financial environment No larger seed funds dedicated to internet of things Minimum viable investment in hardware: £150K There are no incubators or accelerators that support that initial investment Crowdfunding is a terrible early stage financial mechanism Government grants don’t like micro-SMEs
  16. 16. Making things is much easier Designing a supply chain in Europe or Asia is much easier. There are yearly trips for entrepreneurs to China to build relationships. Manufacturing in Europe can be cost effective too. Usine.io Koobe Global Brinc.io Bolt Highway1 by PCH
  17. 17. What £150K should buy you A reasonable tech & marketing team (4-5 people) A small supply chain A small batch of production ready products to test with customers and validate the idea. Something to put in front of retail buyers to place orders.
  18. 18. Yes that’s probably more than you want to invest Invention has always come at a cost that was higher than software. Investing less than £150K won’t even get the team to get started. Look at crowdfunding horror stories as an example of what happens when you have too many customers and too little funding.
  19. 19. What an exit looks like? Selling to a large industrial player who wants the team Selling to a large FMG company who doesn’t have the innovation Selling to a large tech company who don’t know how to make things.
  20. 20. The right questions to ask the teams you meet? Where do you want to sell the product? Who is missing on your team? Who do you think are your customers? Who do you wish were your customers? How would you spend the money?
  21. 21. What lies you will always be told We have other product ideas in the pipeline (but they haven’t been selling their first one yet) We know exactly what it’s going to cost (but they haven’t made one) Marketing will sort itself out, we’re trying to fix the tech first. We’re planning on crowdfunding soon
  22. 22. Be forgiving. There is no easy seed money in this space apart from incubators (10-15K for 3-4 months). So they’re super excited to be meeting with you. They think that crowdfunding will make you happy, it’ll mostly kill them.
  23. 23. A checklist for their first year (bootstrapping) A mix of tech & marketing team (2-3 people is ok) Good PR lists or links Functional if crappy looking prototype Lots of user stories / newsletter signups (1-4K)
  24. 24. A checklist for their 2-3rd year (post £150K) Pre-production samples being tested with customers More PR Small supply chain already tested Relationships w retailers or wholesalers established MOUs w potential customers RRP decided.
  25. 25. A checklist for year 4: Go! Crowdfunding (May-June) Pre-orders throughout the year A promising Christmas (if consumer)
  26. 26. Where do you find them? Attend a local #iot meetup or subscribe to their newsletters (iot.london/meetup.com) Talk to the meetup organiser about making introductions Tech conferences always have a startup showcase space Angelist.co Crowdfunding or Equity seed funding (it may be too late though)
  27. 27. Changing the physical world takes time.
  28. 28. Get involved! Alexandra Deschamps-Sonsino alex@designswarm.com / @iotwatch on twitter & instagram

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