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The Journey from Idea to Product on the Shelf - Northeastern University - November 25, 2014

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In this SlideShare, Dragon Innovation will cover the journey from idea to getting your product on the shelf. Topics include:

- Dragon Innovation's Journey from the Idea to Shelf
- How to Raise Money

Share the presentation here: http://bit.ly/idea-to-shelf-northeastern

About Dragon Innovation

Dragon Innovation works with entrepreneurs to launch hardware products and scale companies. Founded by a team of hardware experts, Dragon provides a clear path from prototype through production with unmatched manufacturing expertise and trusted connections. Dragon's client roster includes Coin, MakerBot, LIFX, Scout, Romotive, Sifteo, Orbotix, FormLabs and over 100 more companies paving the road for how new technology gets made.

Connect with Dragon Innovation

Website: http://www.dragoninnovation.com
Blog: http://blog.dragoninnovation.com
Twitter: http://twitter.com/dragoninnovate
Slideshare: http://www.slideshare.net/dragoninnovation

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The Journey from Idea to Product on the Shelf - Northeastern University - November 25, 2014

  1. 1. THE JOURNEY FROM IDEA TO PRODUCT ON THE SHELF DRAGON INNOVATION SCOTT@DRAGONINNOVATION.COM NORTHEASTERN UNIVERSITY PROF. KRISHNAN NOVEMBER 25, 2014 AT 17:20 ET @dragoninnovate www.dragoninnovation.com /dragoninnovation
  2. 2. Presentation Download http://bit.ly/idea-to-shelf-northeastern 2
  3. 3. 3 Agenda •Quick Survey •Dragon Journey from the Idea to Shelf •How to Raise Money •Q & A http://en.wikipedia.org
  4. 4. Quick Survey 4
  5. 5. From the Idea to the Shelf 5
  6. 6. MIT RoboTuna 6
  7. 7. Agenda 7
  8. 8. Robotic Corvette Powered Dino 8
  9. 9. Agenda 9
  10. 10. Initial iRobot Expertise (Revenue) 10
  11. 11. Journey from $100,000 to $100 Price 11
  12. 12. My Real Baby ~ 100k 12 Velociraptor ~100k +
  13. 13. Rooomba and Scooba 13
  14. 14. Manufacturing is Complex
  15. 15. Agenda 15
  16. 16. VISION We are going to take something as insanely complex as manufacturing consumer electronics and make it feel easy.
  17. 17. Bolt
  18. 18. Bolt
  19. 19. Applying 250 Combined Years Experience To Build >100 Hardware Companies “During the final stages of product design, we have the Dragon team come in to assess manufacturability and assembly. They’ve been very helpful and made our products strong. Dragon Innovation can act as a trailguide to help navigate the decisions and drama of producing hardware.” BRE PETTIS MAKERBOT “We really had no concept as to the manufacturing process. Thankfully, Dragon was keen on educating us - helping us identify gaps in our design, and guiding us on the full manufacturing process from inception to fulfillment.” CARLOS HERRERA CEO / FOUNDER, PINTOFEED "Dragon helped us take our crowdfunding success and translate it into to shipping more than 100,000 Pebbles in just over a year. They provided critical support on-the-ground in China and sourced excellent suppliers." “During the final stages of product design, we have the Dragon team come in to assess manufacturability and assembly. They’ve been very helpful and made our products strong. Dragon Innovation can act as a trailguide to help navigate the decisions and drama of producing hardware.” ERIC MIGICOVSKY PEBBLE KELLER RINAUDO ROMOTIVE JEEVAN KALINITHI SIFTEO “If you’re looking to produce stuff at scale, you have to realize that the manufacturing process is hard. Dragon helped us climb the manufacturing learning curve with their expertise.”
  20. 20. DRAGON INNOVATION HAS HELPED LAUNCH AND SCALE OVER 100 COMPANIES SINCE 2009
  21. 21. How to Raise Money 23
  22. 22. Hardware Requires Cash Typical funding sequence: 1.Bootstrapping 2.Friends and Family 3.Angels 4.Crowdfunding 5.Venture Capital
  23. 23. Crowdfunding: Sell then Build 25
  24. 24. Goals of Crowdfunding •Raise capital upfront •Validate product / market fit •Create engaged & passionate community early •Get the attention of media and investors •Understand build volumes
  25. 25. BE CAREFUL YOU DON’T SELL SOMETHING YOU CAN’T BUILD 27
  26. 26. Why Delivering Is Hard Getting from prototype to delivery is a long journey with many ‘unknown unknowns ’: • COGS, tooling and manufacturing costs • Lead times • Permanence of Quality • Iteration cycles • DFMA • Factory Selection and Management • Team Scalability • Schedule & Project Management • Specialized skills (ME / EE / SW/ Q / SC / Logs)
  27. 27. The Three ThingsYou Need to Know Before Crowdfunding 1.How much cash do you need? 2.How long is it going to take? 3.What is the status of your Design for Manufacturing?
  28. 28. Manufacturing Factors That Drive Funding Requirements •NRE for Prototype to DFM •COGS •Tooling Costs •Manufacturing Costs •Crowdfunding Transaction Costs
  29. 29. A B C D E F G H I J K L M N O P Q R S T U V W X Y Z PERCEIVED PRODUCT TIMELINE Idea Crowdfund Deliver A B C R S T U V W X Y Z Manufacture Prototype D E F G H I J K L M N O P Q
  30. 30. MORE REALISTIC PRODUCT TIMELINE Idea Proto Crowdfund Manufacture Deliver A B C D E F G H I J K L M N O P Q R S T U V W X Y Z CF Prep
  31. 31. Typical Stages •Paper sketches •Handmade prototype (popsicle sticks and hot glue) •3D printed prototype (works-like) •Industrial Design model (looks-like) •Design for manufacture (for Tool Start) • Injection Molded with drafts, rounds, minimal undercuts • Die Cast •Stamped •CNC •Final Product Design in Manufacturing
  32. 32. Venture Capital 34
  33. 33. Formula to Raise VC •Working Prototype •Traction in Market (i.e. successful CF campaign) •Strong technical and business team •Understanding of market size and economics •Warm intros to VCs that are a good fit for your stage (Seed)
  34. 34. Questions?

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