Sofeast's CEO Renaud Anjoran and Adrian from the team talk about what founders need to do in order to validate their new hardware product idea in the eyes of potential investors.
You'll learn about a huge blindspot that many founders have that can easily destroy their chances of success, what potential investors and manufacturers are looking for from a startup and its idea, and some tips on how to get information at an early stage that can positively influence your design before you have even invested in prototypes!
If you have a new product idea you want to bring to market, this episode is a must-listen!
Show Sections
00:00 - Greetings
00:25 - Pre-chat: Hong Kong has dropped quarantine and is open to visitors!
08:36 - Today's topic: How to validate your new hardware product idea in the eyes of investors?
12:18 - The 3 key risks faced by founders with a new hardware product idea.
14:01 - An example of market risk: A new energy-efficient cooking solution.
22:33 - What to do with the feedback from target customers?
25:59 - The minimum viable product for hardware startups.
27:54 - 2 key milestones investors use to validate a new product and the startup behind it.
30:07 - The Hardware Academy - a good place to get advice.
31:30 - No market research = Higher risk of project failure, lack of investment, and difficulty in working with the best manufacturers.
There are more episodes to come, so remember to subscribe! You can do so in your favorite podcast apps here and don't forget to give us a 5-star rating, please:
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