The Secret to Hardware Startup Success (Isn’t Such a Secret)
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The Secret to Hardware Startup Success (Isn’t Such a Secret)
We bet you just read that sentence and thought to yourself, “Yes, I have definitely heard that before”. The thing about the secret to startup success, is that it is not a secret at all. We work with countless hardware entrepreneurs that have an abundance of product ideas, and often one of our first pieces of advice comes in the form of two questions, “What problem are you solving?” and “What segment of the population faces this problem regularly?” The answers to these questions can help determine if your product idea is poised for success.
If you are currently mulling a product idea around in your head and deciding if it is worthy to pursue, ask yourself the following three questions.
Do you personally experience this issue?
If you are personally experiencing this issue, there is a good chance that others are as well. Casually ask friends and family if they notice this problem and if they have ever thought of a solution to it. You might be surprised at how many people experience this issue, but have probably just decided that “this is the way it is” and haven’t given any real thought to a solution.
Can you act quickly?
The thing with startups, is that they can, on average, act quickly and pivot just as fast. Large corporations undoubtedly have the funds, but moving fast is not something they can do. So are you in a position in which you can quickly and efficiently design a solution and launch it into the marketplace? Moving fast gives you a head start, and often, it is before the big industry players even notice the problem.
Do you have the right skills to succeed?
Do you have the skillset necessary to act quickly? Think about your network, do you know others that can help or offer advice as you get going? Keep in mind that no one has all the skills necessary to succeed. This is what teams and product development partnerships are for. Understanding your skills and limitations will help you know where you need assistance and where you can take on a majority of the responsibilities.
Have additional questions about developing and launching a product into the marketplace? We are happy to help! Send us an email at info@3d-innovations.com
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3D Innovations is a Product Development Company – from the 3D Design to a fully functional 3D Prototype & Product.
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Intellectual Property Strategies for Hardware Startups
Patents are a way to not only protect an idea, but to also minimize competition and act as a defense mechanism against infringement claims from others. Having a strong intellectual property strategy or having the patent process started, is a great way to attract or solidify partnerships and funding.
Below are four considerations for your startup’s intellectual property strategy.
File Early-On
Patent rules are strict and adhere to a tight timeline, so it is best to file for patent protection early-on in the development cycle. A provisional patent application is a good “first step” for hardware startups. A provisional application provides the means to establish an early effective filing date in a later filed nonprovisional patent application. It also allows the term “Patent Pending” to be applied in connection with the description of the invention.
It is important to note that a “provisional application for patent has a pendency lasting 12 months from the date the provisional application is filed. The 12-month pendency period cannot be extended. Therefore, an applicant who files a provisional application must file a corresponding nonprovisional application for patent (nonprovisional application) during the 12-month pendency period of the provisional application in order to benefit from the earlier filing of the provisional application (United States Patent and Trademark Office -USPTO).” Once you file a provisional application the countdown clock starts ticking and your next move must be decided within the 12-month period.
In this early period, it is also best to keep quiet about your invention. You want to avoid publicizing your invention. This does not mean that you cannot meet with potential partners or product development firms, but instead that you don’t want to share your idea online or start a crowdfunding campaign just yet.
File as the Invention Evolves
Many times the invention that you first envisioned, completely transforms during the product development process. This means that your initial patent or patent application may not cover new features that have been added on. This will leave your final product under-protected or not protected at all.
If the product is evolving quickly, consider filing a provisional patent application or a series of provisional patent applications within a year before filing a utility patent application.
Consider a Design Patent
While utility patents make up 90% of patents issued, design patents have been steadily on the rise because inventors are realizing that the exterior design and overall aesthetics of the invention can easily be replicated as well. Protecting both the design and functionality of an invention is necessary for long-term success.
According to the United States Patent and Trademark Office (USPTO), “design patents may be granted to anyone who invents a new, original, and ornamental design for an article of manufacture”. In short, this means that design patents cover exactly what is shown in the drawings, nothing more.
Like a utility patent, a design patent also lets you use the phrases patent pending and patent issued on all business-related material. Once you have been granted a design patent, you are then able to secure rights for the next fourteen years. Another important thing to keep in mind is that design patents are relatively cheap to file and maintain, as compared to a utility patent.
A design patent, coupled with a utility patent, offers a range of IP protection on both the inner workings and exterior design of your product.
Consider Other Brand Protections
Patent protection is only one part of your IP strategy. A registered trademark will help protect your brand as well. A trademark is a word, phrase, symbol or design that identifies and distinguishes the source of the goods of one party from another—think along the lines of logo and tagline. A recognizable trademark can be extremely valuable for distinguishing your business from the competition.
Depending on the exact nature of your startup, a licensing agreement, copyright and/or trade secret protection could also be considered during your intellectual property planning and overall strategy. Speaking to a Patent Attorney early-on will let you discuss your options, weigh the benefits and build a custom strategy for your startup.
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3D Innovations is a Product Development Company – from the 3D Design to a fully functional 3D Prototype & Product.
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Product Design: Custom Electronic Sensor [Case Study]
3D INNOVATIONS CASE STUDY
The challenge: Develop and prototype a custom circuit sensor application.
3D Innovations was contacted to assist in the product design and development of a custom circuit board sensor device prototype. The exact application was to measure specific amounts of units through an on board sensor that would store and transmit the data to a cloud storage system.
Using the client’s requirements, the 3D Innovations team was able to produce a schematic design to develop the circuit layout and determine Bill of Materials (BOM) requirements and the associated cost. Gerber files were generated and used for the manufacturing process. While the option of 3D printing the circuits was available, the conventional method for fabrication and assembly was utilized.
Integrating best practices for PCB design, development cost was reduced by 230% and prototypes were built in several weeks, saving 3-4 weeks in lead time. UL and FCC certifications were conducted to ensure testing compliance and approval. A production ready design was then delivered for manufacturing.
Results: A product ready design was delivered for manufacturing, while development costs were reduced by 230%, saving 3-4 weeks in lead time.
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3D Innovations is a Product Development Company – from the 3D Design to a fully functional 3D Prototype & Product.
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Product Design: FOG Safe [Case Study]
3D INNOVATIONS CASE STUDY
The challenge: Design and development of a prototype mold for final product testing and market integration.
The FOG Safe is an environmentally conscious product designed to keep fat, oil and grease from drains and ultimately our environment. By reducing fat, oil and grease waste material from our drains, we not only greatly reduce our carbon footprint, but protect our landfills, gardens, water sources, streams and oceans from harmful chemicals. With this waste reduction goal in mind, the FOG Safe was created.
Using our product design and 3D Printing process, prototype molds were created to produce a low volume quantity for final testing and marketing integration. The data obtained during this testing phase has allowed FOG Safe to receive several patents and other IP protections for the product. Utilizing 3D printed molds, as compared to traditional molding materials, saved our client more than $8,000 in tooling expenses and reduced the product development time from months to weeks.
Results: By creating less expensive tooling we were able to save our client over $8,000 in tooling expenses. The functional prototype has been effective in conducting testing and developing use cases. The overall product development cycle was reduced by months using 3D Printing technology over aluminum or steel molds during the prototyping phase.
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3D Innovations is a Product Development Company – from the 3D Design to a fully functional 3D Prototype & Product.
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Product Design: Making Dental Care Fun [Case Study]
3D INNOVATIONS CASE STUDY
The challenge: Develop a product that makes dental care fun for children.
When SmileyRides™ approached our 3D Innovations team, the startup had an overarching goal: Make dental care fun and interactive for children, while promoting life long healthy oral hygiene habits. With an idea and rough sketch in hand, we were able to take our client’s vision and turn it into a functional prototype for product testing, manufacturing and patenting.
With our digital design process, we were able quickly produce mock-ups and validate the design, which helped reduce the product development timeline by two months. The detailed design we provided was manufacture ready and provided a seamless transition into the production manufacturing stage. Utilizing 3D Printing technology resulted in a cost savings of over $10,000 in machining and mold expenses.
Results: A functional prototype was developed using digital design and 3D printing technology, which resulted in a cost savings of over $10,000.
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3D Innovations is a Product Development Company – from the 3D Design to a fully functional 3D Prototype & Product.
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Product Design: GoPro Mount Accessory [Case Study]
3D INNOVATIONS CASE STUDY
The challenge: Develop a hands-free GoPro mount accessory.
Our 3D Innovations team worked closely with a group of young entrepreneurs during Startup Weekend Honolulu 2015 in the product design and development of a hands-free GoPro mount accessory. With only 54 hours to develop and prototype the idea, time was of the essence.
With the final design, this accessory can now replace over a dozen mounts for GoPros, iPhones, audio recorders and lights. The easy to use and compact hands-free mount design makes it easy to take along on your next adventure.
Using our 3D Design and 3D Printing process, we were able to save over $4,000 in prototyping costs while reducing the development time from weeks or months to just days. The utilization of 3D printing technology led to significant cost savings, which allowed the team to develop several versions that were validated through the customer discovery process and led to the final production-ready design.
Results: Designed and developed a functional prototype in 54 hours.
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3D Innovations is a Product Development Company – from the 3D Design to a fully functional 3D Prototype & Product.
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Hardware Startups: Can I Patent My Invention?
Have additional questions regarding the patent process? We highly recommend a visit to the USPTO website. We are also able to help answer any questions you may have, please e-mail them to info@3d-innovations.com
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3D Innovations is a Product Development Company – from the 3D Design to a fully functional 3D Prototype & Product.
Startup Connector is a Manufacturing Accelerator helping companies commercialize—turning ideas into products.
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Five Product Development Pitfalls to Avoid
The hardware startup landscape is riddled with product development challenges and barriers, and as an entrepreneur your job is to make sure that you are well equipped to handle whatever comes your way. This by no means is saying that you must have all of the answers—no one is an expert at everything—it is saying that you need to surround yourself with people of differing skill sets to help you along the way.
Below are five common product development pitfalls to avoid as you prepare to develop and launch your product.
IP Risk. A survey of the IP landscape for your specific product/industry can greatly reduce this risk. Patent attorneys and engineers work together to make sure that your idea is not already patented and that there is ample room to innovate.
Market Risk. While you might find your product to be useful, is there a customer base for it? Are there other people out there who would purchase this product? Assessing the market risk is done through market research. Find your target market and work with them to gauge their needs and build a product that works for them.
Cost Risk. Can you make a profit? You want to be sure that your design is both effective and efficient. Minimizing your costs from the onset is the best way to combat this pitfall. The manufacturing phase of product development is where many entrepreneurs face this challenge. Research manufacturers and find one that has experience manufacturing a product similar to yours—chances are if they have experience, there will be fewer (costly) errors.
Competitive Risk. Work with professionals and team members that have experience navigating your industry. The experience they bring to your startup is invaluable and will help you get to market much faster, thus reducing your competitive risk.
Developing a product and launching a startup is a great adventure. Starting the process prepared and aware of these common pitfalls will undoubtedly help you throughout your entire product development and product launch journey.
Do you have further questions about the product development process? We would love to help! Send them our way, info@3d-innovations.com
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3D Innovations is a Product Development Company – from the 3D Design to a fully functional 3D Prototype & Product.
Startup Connector is a Manufacturing Accelerator helping companies commercialize—turning ideas into products.
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Intellectual Property: Should You Consider A Licensing Business Model?
What is a licensing agreement?
With a licensing agreement, an inventor (the licensor) develops an invention and then protects that invention through a patent, copyright, trademark, or trade secret, and thus creates intellectual property (IP). The inventor—the owner of the intellectual property—then licenses the invention to a second party (the licensee) whose responsibility is to commercialize the invention. As compensation for allowing another party to use its intellectual property, the licensor will receive a royalty.
Licensing agreements are becoming more common than in the past and are open to more inventors. This has also increased the number of inventors approaching manufacturers and, thus, increased competition.
What are the benefits of a licensing agreement?
Below is a list of some of the main benefits of licensing your invention/IP.
How do I evaluate a potential licensee?
When evaluating a potential licensee, you should focus on its ability to effectively commercialize your invention/IP. Often times that means considering companies that have a proven track record of marketing and selling products based on inventions similar to yours. Depending on the invention, the best way to commercialize it could also be to license it to a startup, a manufacturer, or a bunch of companies in separate territories.
Suggestions for securing a licensing agreement:
Have additional questions about licensing agreements? We would be happy to help answer them, please e-mail info@3d-innovations.com
Articles Referenced:
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3D Innovations is a Product Development Company – from the 3D Design to a fully functional 3D Prototype & Product.
Startup Connector is a Manufacturing Accelerator helping companies commercialize—turning ideas into products.
Subscribe to the 3D Innovations newsletter on our Facebook page!
Connect with us on Twitter, Facebook & LinkedIn today
Transitioning From Idea To Manufacturable Product [Case Study]
3D INNOVATIONS CASE STUDY
The challenge: Take a consumer product concept and turn it into a manufacturable design to be used as part of an Intellectual Property (IP) package.
A new customer was recently referred to 3D Innovations by a past client of ours, in which we helped them bring their product to market. With a simple concept in hand, this new client needed assistance in taking an idea and turning it into a manufacturable product. The 3D Innovations design team was tasked with taking a sketch, drawing and handmade prototype, and developing it into a manufacturable design that could be used as part of an Intellectual Property package.
(Photo credit: Home Depot website)
Once we finalized the conceptual design rendering, a functional prototype was developed using 3D Printing/Additive Manufacturing technology. With the functional prototype complete, the idea really came to life. From here, the detailed drawings that we created were then used in the official patent application. With the design and functional prototype in hand, our customer began approaching several companies regarding a licensing deal.
Results: Working with a group of IP attorneys, the idea was successfully patented and licensed to a large manufacturer/distributor.
*[Note] – Not all ideas are turned into a manufacturable product by the inventor themselves, in some cases—such as this one—the inventor decided to use a licensing strategy to take advantage of the vast sales and distribution channels that larger corporations already have in place. Also, licensing is not always about the technical design, instead the strategy is focused on creating value for the licensor to add to their existing product portfolio.
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3D Innovations is a Product Development Company – from the 3D Design to a fully functional 3D Prototype & Product.
Startup Connector is a Manufacturing Accelerator helping companies commercialize—turning ideas into products.
Subscribe to the 3D Innovations newsletter on our Facebook page!
Connect with us on Twitter, Facebook & LinkedIn today