Succeeding with a start-up is a difficult journey. Risk and money are two things that challenge you every step of the way. If you are a hardware start-up, the risks are even greater. Missteps and mistakes can set you back, and the risk is even higher. Money is important, but other things can directly affect the ability to obtain funding. So, is there a surefire recipe for success? Unfortunately not, but if you are considering starting a hardware company or are in the early stages of your company lifecycle, there are several key areas, that, if approached with prior knowledge, can increase your chances of success.
Some key areas:
- Securing funding through different sources
- Working with incubators and accelerators brings tangible benefits
- Protecting intellectual property (IP)
- Field-testing brings you closer to the customer
- What type of prototypes work best?
This white paper examines each of these areas in more detail. It offers helpful guidance to early-stage hardware entrepreneurs that can lead them down the path to success. The white paper also offers nuggets of wisdom from successful entrepreneurs who have gone through some growing pains and are continuing to lead their companies as successful, young enterprises.