Successfully reported this slideshow.
We use your LinkedIn profile and activity data to personalize ads and to show you more relevant ads. You can change your ad preferences anytime.

Making Hardware Less Hard: Lessons from 200 Investments

408 views

Published on

How to go from lab to market, and avoid all sorts of problems.
Talk given at Photokina in Cologne in September 2018

Published in: Technology
  • Be the first to comment

Making Hardware Less Hard: Lessons from 200 Investments

  1. 1. Making Hardware Less Hard: Lessons From 200 Hardware Investments Benjamin Joffe SOSV / HAX Ventures
  2. 2. SOSV • $400M fund • Early stage (pre-seed to A) • Deep tech (Hardware, Life Sciences & more) • Program-based • 700 investments
  3. 3. HAX • Hardware only • Prototype-stage • Industry, Enterprise, Health, Consumer • 200 investments • Shenzhen & SF • 30 staff to help!
  4. 4. @benjaminjoffe • Eng. :) • 18y in Telecom, Consulting (CEO), Gaming, Hardware • China, Japan, Korea, Silicon Valley • Writer (Forbes, TC, VB, IEEE Spectrum) • Speaker (>200 talks, 30+ countries) • Angel investor
  5. 5. The classic way
  6. 6. Let’s do a startup!
  7. 7. Startup • Team • Tech • Trend • Timing
  8. 8. Team? • Vision • Tech • Execution • Communication
  9. 9. First Prototype Prototype
  10. 10. First Prototype Iterations More prototypes
  11. 11. First Prototype Iterations Production PR Sales Marketing Logistics Distribution Recruiting Financing Legal And everything else
  12. 12. How fast can you learn? • Get advice • Hire • (Outsource)
  13. 13. Resources • R&D • Prototyping • Production • Customers • Funding
  14. 14. HAX Model • R&D : where you can hire • Prototyping : Shenzhen • Production : Shenzhen • Customers : home country first, then USA? • Funding : home country first, then USA?
  15. 15. Shenzhen Have you visited?
  16. 16. Why Shenzhen • Speed! “One week in Shenzhen is a month elsewhere” • Costs • Skills • (Any) Scale
  17. 17. The other (better?) way • Customers! • Positioning
  18. 18. i-Corps Program • Prepares scientists and engineers
 to go beyond the lab and move toward
 commercialization. • “Customer discovery” • “Get out of the building” • Talk to 100 customers • 7 weeks to identify • Knowledge gaps • Best path forward Steve Blank
  19. 19. Result • $70k on Kickstarter • New product: IoT platform • $2M on Kickstarter • VC funding
  20. 20. Lessons? • Closed down! • New Market? • Pricing, purchasing, distribution “Great engineers don't tend to make great business people” “They were hipsters in an engineer's game.
 You need Eggheads, and beancounters to make it solvent.”
  21. 21. Let’s talk audio
  22. 22. Portable
  23. 23. Bluetooth (Jawbone) Raised $984 million
  24. 24. IKEA…
  25. 25. Design & Bass
  26. 26. Noise Canceling
  27. 27. Wireless (Airpods)
  28. 28. Smart Speakers / Voice Assistants
  29. 29. “Xiaomization” is coming
  30. 30. Standing out
  31. 31. Kickstarter: 1,559 backers pledged $784,320 Loud (Soundboks)
  32. 32. Raised $161 million “Implosive sound” (Devialet)
  33. 33. What next? • Personalized • Specialized
  34. 34. Your shape (Revols) Acquired! (too early?)
  35. 35. Raised $22 million Your hearing (Nura)
  36. 36. The Future • Science • Software
  37. 37. …adds ANC & ‘transparency’
  38. 38. Wireless+ (Bragi) Raised $25 million
  39. 39. “Smart hearable” • Moving to software • Adding features (filtering, activity tracking, testing, translation) “Proof of concept with 200,000 units”
  40. 40. Oyalabs Child language monitor (NLP)
  41. 41. Electro Encephalography (EEG)
  42. 42. Focus Headphones (Mindset)
  43. 43. Sleep Headphones (Kokoon)
  44. 44. Talking about sleep…
  45. 45. Tech vs. Problems
  46. 46. How can you help sleep?
  47. 47. HAX Sleep Tech • Kokoon: Headphones for sleep • Moona: Temperature control for pillow • Sana: Mask to sleep in 10 min • Circadia: Contactless sleep tracking & therapies • Zennea: Snoring treatment
  48. 48. Moona Pillow thermostat
  49. 49. Sana pivot Pain relief mask
  50. 50. Circadia Non-contact sensor + light therapy lamp + training app
  51. 51. Circadia Design pivot
  52. 52. Raybaby Non-contact sleep & breathing baby monitor
  53. 53. Ultrawideband Radar (UWB)
  54. 54. Zennea (Snoring therapy)
  55. 55. A word on photography
  56. 56. Lytro Light field photography Raised $216 million Acquired by Google !$40 million
  57. 57. 360 audio+video (Aurovis)
  58. 58. A.I. Selfie Phone (Meitu) $3.2 billion market cap
  59. 59. Gimbal (DJI Osmo 2)
  60. 60. In Closing
  61. 61. In Closing • Science • Positioning • Resources • Skills • China = future of productization? • Keep innovating
  62. 62. Questions? @benjaminjoffe

×