We are going to start off with the good news, building a hardware startup outside of a major hub (i.e. Silicon Valley, Boston, L.A.) is possible. In fact, in today’s connected world, these major tech hubs are becoming less and less appealing for entrepreneurs just setting out with their startup. It’s no secret that the cost of living in major tech hubs is astronomical and upfront costs to get your business going also come at a premium. So if you are an entrepreneur looking to launch a product and start a business, but have no desire to pick-up and move, below are a few ideas on how you can successfully launch your hardware startup from your home city.
Focus on the product.
When you find yourself in the center of a major technology hub it is easy to get distracted from your original goal if you are inclined to listen to all of the “experts” out there. This advice coming in can easily veer your startup off course and make your head spin.
Instead, diligently focus on your product idea and developing it for your target market. If you have a useful product, customers aren’t going to care where your business is located. Being in a lesser well-known area will also help you keep a global market in mind—you won’t be in a bubble where people share your same interests, skills etc. If you are in the middle of a tech hub you may not realize that people in, say, Tampa or Portland aren’t as tech-savvy as your neighbors. Being an outsider forces you to keep the needs of every potential market in mind.
Seek out local support.
Chances are that if you are in a large enough city, there are other businesses out there supporting the startup community. You don’t necessarily need to find an industry specific support network, but instead a network that has the skillset your startup requires. Here in Hawaii, we provide product development support to hardware startups in a wide-range of industries.
Cities all over the nation, and really the world, are starting to realize that creating a friendly startup ecosystem is good for business. Startup support might come from government programs, local universities, or corporate sponsorships—there is going to be support available, your job is to seek it out.
Through local relationships and organizations, you may gain access to anything from low-interest loans to access to venture capital that’s limited to local businesses, and opportunities to speak at local business events.
Reach out to your existing connections.
The benefit of launching your startup where you live is that you know people and have years-long relationships built with them already. You have an established community. Even if you’re not in a tech hub, you’re bound to be surrounded by business owners of some sort.
Maybe you know a local manufacturer that can help explain the manufacturing process to you and make introductions for you with their contacts. Perhaps you are neighbors with a local baker that excels at social media, and he/she is willing to give you a crash course on what you need to know to get started.
Connect with people who have forged similar paths.
The good thing about living in a connected world is that expert advice and help is just a Google search away. Connect with other entrepreneurs and CEOs that you admire online—via blogs, their websites, weekly digest emails. You don’t necessarily have to have a two-way conversation with them to glean useful information that you can put into practice.
3D Innovations is a Product Development Company – from the 3D Design to a fully functional 3D Prototype & Product.