Last night at HardwiredNYC, I had the opportunity to share the stage with the founders of Arduino and Raspbery Pi. I focused my presentation on how to model the Costs of Goods Sold (COGS), which is essential to creating a successful hardware crowdfunded campaign. Admittedly, costing is not the sexiest topic but it is absolutely essential to get right before running a hardware crowdfunding campaign. For all projects that launch on Dragon, we spend considerable time with the entrepreneurs analyzing their BOM to ensure they set the funding thresholds appropriately to ensure they can make good on their promise to deliver product to their backers.
The HardwiredNYC meetup was a great way to wrap up a whirlwind month of speaking, meetups, presentations and helping our entrepreneurs meet their crowdfunding goals. Congrats to Tessel, DASH, and Ollie for already surpassing their thresholds! It’s been great to watch Hammerhead Navigation, Rest Devices' Mimo, LIMBERboard, and Run-n-Read create a dedicated community of backers and make incredible progress towards their goals.
Getting ready to launch a new wave of products is exciting. It is an amazing experience to work with gifted entrepreneurs to help them setup a successful campaign by diving into COGS, DFMA and manufacturing strategy so that they are confident that they can deliver once they meet their funding thresholds.
We’ve worked closely with each company to set realistic goals, realign what hasn’t worked and help them get to the prototype stage feeling confident that what they are building actually works and is well positioned to go to market.
Today, we have a new wave of hardware projects launching and the Dragon Innovation team is thrilled to help each one meet or exceed their goals. Check it out: Lumi is an LED user controlled umbrella designed in collaboration with Pilobolus, TwistVolt is a sleek configurable power strip that is energy efficient, and ZBoard is an electric powered skateboard with speeds of 18 mph.
We would love to hear from those of you in the maker and hardware community and welcome guest bloggers. Let’s be the change agents that reverse the stat that almost 75 percent of start-ups either deliver late, or never at all. Thanks for all your support!