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HAX CROWDFUNDING GUIDE 2017

HAX Crowdfunding Guide 2017

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  • HAX CROWDFUNDING GUIDE 2017

  • NOTE FROM THE AUTHORSThis guide shares lessons gathered over 4 years of supporting close to 100 consumer hardware startups, from page creation to funding (and beyond).

    Things keep evolving. We keep this knowledge up to date to support any new investment we make.

    We hope it will help creators be more successful, and more responsible, for the benefit of their backers, themselves, and the ecosystem at large.

    Ben, Cyril, Duncan, Kate and all founders who contributed their hard-earned lessons WHATS NEXT

  • NO.1 INVESTOR IN CROWDFUNDED HARDWARE

    LEARNINGS FROM OUR STARTUPS: 70+ CAMPAIGNS (90% OVER $100,000)

    INCLUDING 10 IN THE WORLDS TOP 100 (OVER $1M)

    N0.1 FROM AUSTRALIA

    N0.2 IN BACKERSN0.1 FROM FRANCE

    N0.1 FROM CANADA

    WHATS NEXT

  • Lief is an advanced wellness device that raised over $400,000.

    1. THE TECHNICAL LEVEL IS GOING UP

    WHATS NEXT

  • In pre-order On market On market$20 $4 $1.5

    FIDGET CUBE: COPIED BEFORE DELIVERY

    WHATS NEXT

  • USA South Korea ChinaJIBO LG HUB ROBOT Oding Robot

    JIBO: INSPIRING PEOPLE If you dont ship first, someone else will

    WHATS NEXT

  • 2. KNOW YOUR TECH, YOUR COSTS & YOUR FACTORY

    WAZER took time to figure out their technology and supply chain before crowdfunding

    WHATS NEXT

  • THESE PRODUCTS WILL NOT SHIP

    Some projects did not make clear what part of their technology was not ready, or messed up manufacturing.

    $15M investment $34M pre-orders 2.3M on Kickstarter 1.5M on Indiegogo

    WHATS NEXT

  • 3. THE BEST PAGE FROM 2015 IS TODAYS MINIMUM

    A crowdfunding video can cost $5k-$10k or more

    Graphics have to be professionally designed

    Get the key value proposition straight up

    Analyze pros & cons of other campaigns in your category

    WHATS NEXT

  • 4. JOURNALISTS WANT TO SEE PROOF

    Nothing convinces like a live demo

    WHATS NEXT

  • REVOLS: Instant Custom-Fit Earphones

    Media roadshow

    Facebook ads

    $2.5M

    WHATS NEXT

  • 5. VIRAL VIDEOS ARE THE NEW BLACK

    10,688,745 Likes

    4,519,938 Likes

    3,316,552 Likes

    6,888,301 Likes

    UNILAD 25,508,208 Likes

    VIRAL THREAD

    GI GADGETS

    FUTURISM

    NOWTHIS FUTURE

    Facebook video channels give you more

    chances to go viral if you get picked up.

    WHATS NEXT

  • OCTOPUS: Kids Watch For Good Habits

    Pre-launchFacebook Ads

    Viral video

    $1M

    WHATS NEXT

  • 6. ADVERTISING WORKSFacebook ads

    and Adwords can increase momentum

    Red arrows can get attention

    Use funding news and backers as

    proof, time limit and savings for FOMO.

    WHATS NEXT

  • KOKOON: Ergonomic EEG Headphones For Sleep $1.9M

    Facebook AdsLimited PR

    WHATS NEXT

  • 7. BUILD A COMMUNITY

    Pre-campaign adsDemo Roadshow

    Email engagement

    Existing followersYouTubersCelebrities

    Cross-promotions

    Demo Videos

    OTHER PEOPLESYOUR OWN

    Influential Bloggers

    The Exploding kittens card game raised over $8M thanks to the audience

    of its creator, the blog The OatmealWHATS NEXT

    Etc.Etc.

  • PRYNT: Printer Case For Smartphones $1.5M

    Pre-launchCommunity

    WHATS NEXT

  • NURA: Headphones Tuned To You $1.8M

    Facebook Ads

    Media Roadshow+ Friends & Family

    WHATS NEXT

  • 8. ITS A FULL-TIME JOBThings YOU can do post-launch:

    Get more PR

    Respond to backersAdjust the page title, image, contentRun adsDo demosPost updatesAnd more!

    WHATS NEXT

  • VUE: Everyday Smart Glasses $2.3M

    Heavy SupportFacebook Ads

    WHATS NEXT

  • WAZER: Desktop Waterjet Cutter $1.3M

    Pre-launchRoadshow

    Limited Support

    WHATS NEXT

  • 9. YOU CANT PREDICT A $1M RESULTTypically you cant.

    Kickstarter had 217 campaigns over $1M since 2009.Hardware startups represent about 100 of them.Its

  • 10. THE RESULT DOESNT DECIDE YOUR FUTURESome of our best companies raised very little at first.

    Kickstarter $185,576Jan. 2013

    Year 2016 >200 staff

    WHATS NEXT

  • NEXT THING CO: From Failure to Success $2M

    Their first project lacked a cheap computer so they built one.

    Backers: 414 Funding: $71,559

    Backers: 39560 Funding: $2,071,928

    WHATS NEXT

  • NEXT THING CO: $9 Computer C.H.I.P. $2M

    One single interviewto prove it is real

    Over 100,000 units shipped.

    WHATS NEXT

  • IN CONCLUSION: WHAT IS CROWDFUNDING SUCCESS?

    1. Shipping a (good) product

    WHATS NEXT

    2. Building a profitable business

    Before you ship, it is an idea. Before profit, it is an experiment.

  • LAUNCH GROWTHO TO 1 1 TO N

    SHENZHEN Prototype to Launch

    SAN FRANCISCO Product to Scale

    HAX PROGRAMS

  • CHINA

    EUROPE

    USA & CANADA

    REST OF WORLD

    200 GLOBAL INVESTMENTS

  • LIFESTYLE

    HEALTH

    ROBOTICSINFRASTRUCTURE

    FABRICATION

    5 CATEGORIES

  • WHATS NEXT

    APPLY: www.hax.co - CONTACT: makeit @ hax.co