NOTE FROM THE AUTHORS
This guide shares lessons gathered over 4 years
of supporting close to 100 consumer hardware startups,
from page creation to funding (and beyond).
Things keep evolving. We keep this knowledge
up to date to support any new investment we make.
We hope it will help creators be more successful,
and more responsible, for the benefit
of their backers, themselves, and the ecosystem at large.
Ben, Cyril, Duncan, Kate
…and all founders who contributed their hard-earned lessons WHAT’S NEXT
LEARNINGS FROM OUR STARTUPS: 70+ CAMPAIGNS (90% OVER $100,000)
INCLUDING 10 IN THE WORLD’S TOP 100 (OVER $1M)
N0.1 FROM AUSTRALIA
N0.2 IN BACKERSN0.1 FROM FRANCE
N0.1 FROM CANADA
Lief is an advanced wellness device
that raised over $400,000.
1. THE TECHNICAL LEVEL IS GOING UP
In pre-order On market On market
$20 $4 $1.5
FIDGET CUBE: COPIED BEFORE DELIVERY
USA South Korea China
JIBO LG HUB ROBOT Oding Robot
JIBO: INSPIRING PEOPLE “If you don’t ship ﬁrst, someone else will”
2. KNOW YOUR TECH, YOUR COSTS & YOUR FACTORY
WAZER took time to ﬁgure out
their technology and supply
chain before crowdfunding WHAT’S NEXT
THESE PRODUCTS WILL NOT SHIP
Some projects did not make clear what part of their technology
was not ready, or messed up manufacturing.
£2.3M on Kickstarter 1.5M on Indiegogo
3. THE BEST PAGE FROM 2015 IS TODAY’S MINIMUM
A crowdfunding video can
cost $5k-$10k or more
Graphics have to be
Get the key value proposition
Analyze pros & cons of other
campaigns in your category
4. JOURNALISTS WANT TO SEE PROOF
like a live demo WHAT’S NEXT
REVOLS: Instant Custom-Fit Earphones
5. VIRAL VIDEOS ARE THE NEW BLACK
UNILAD 25,508,208 Likes
give you more
chances to go viral if
you get picked up.
OCTOPUS: Kids Watch For Good Habits
6. ADVERTISING WORKS
and Adwords can
can get attention
Use funding news
and backers as
“proof”, time limit and
savings for FOMO.
KOKOON: Ergonomic EEG Headphones For Sleep $1.9M
Facebook AdsLimited PR
7. BUILD A COMMUNITY
OTHER PEOPLE’SYOUR OWN
The “Exploding kittens” card game
raised over $8M thanks to the audience
of its creator, the blog The Oatmeal
PRYNT: Printer Case For Smartphones $1.5M
NURA: Headphones Tuned To You $1.8M
+ Friends & Family
8. IT’S A FULL-TIME JOB
Things YOU can do post-launch:
Get more PR
Respond to backers
Adjust the page title, image, content
VUE: Everyday Smart Glasses $2.3M
WAZER: Desktop Waterjet Cutter $1.3M
9. YOU CAN’T PREDICT A $1M RESULT
Typically you can’t.
Kickstarter had 217 campaigns
over $1M since 2009.
Hardware startups represent
about 100 of them.
It’s <1% in tech and design.
If the past is a good predictor, smart watches, travel tech
ear/headphones, drones and 3D printers are the best categories.
…but you might not ship your drone, might not be able to ﬁnance
the second run of your 3D printer, or might be acquired by Fitbit ;)
OLO Smartphone 3D printer
Will margins be enough
for a second batch?
10. THE RESULT DOESN’T DECIDE YOUR FUTURE
Some of our best companies raised very little at ﬁrst.
Year 2016 >200 staff
NEXT THING CO: From “Failure” to Success $2M
Their first project lacked a cheap computer… so they built one.
NEXT THING CO: $9 Computer C.H.I.P. $2M
One single interview
to “prove” it is real
Over 100,000 units shipped.
IN CONCLUSION: WHAT IS CROWDFUNDING SUCCESS?
1. Shipping a (good) product
2. Building a proﬁtable business
Before you ship, it is an idea. Before proﬁt, it is an experiment.
O TO 1 1 TO N
200 GLOBAL INVESTMENTS
APPLY: www.hax.co - CONTACT: makeit @ hax.co