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Is a Hardware Accelerator
Right for You?
Benjamin Joffe, General Partner, HAX [email protected] | @benjaminjoffe
EEMECSID
BUILDPROTOTYPE
Skills you will need
DFMSourcing
ManufacturingSupply chainCrowdfundingMediaFinancingFundraisingMarketingDistribution
EEMECSID
BUILDPROTOTYPE
LAUNCHBUSINESSSkills you will need
1. University (pre-accelerators?)
2. Corporate
3. Sponsored
4. Venture-backed
1. Focus
2. Ecosystem
3. Duration
4. Experience
Variety
SMART HARDWARE STARTUP ACCELERATOR
STARTUPS PROGRAMS
80 7
YEARS
3
DAYS FOUNDERS& MENTORS
111 300
26 countries
60% 20% 20%
…and self-taught creators!
STARTUPS SELECTED RATE
1,000 30 3% $25k-$100k
EQUITY
$200k
MATCHING FUNDS
STRATEGY
SOURCING
DESIGN
BUILDING
111 DAYS
SHENZHEN
MEDIA
INVESTORS
PARTNERS
DEMO DAY
SILICON VALLEY
+CUSTOMERS
FROM PROTOTYPE TO SCALE
“FULL STACK” ACCELERATOR
Prototype
Accelerator ($25k-$100k)Shenzhen
Launch Make Sell
+$200k BoostSan Francisco
LOW-COSTROBOTICS
HEALTH +
WELLNESS
LIFESTYLE+HCI
+++ +++ ++ +
SMART HOME
+TOOLS+
EDUCATION
Already $20M-$50M within 2 years
Early HAX startups
HAX 1
HAX 2
HAX 2
$1.2M
Launching
2/3
B2C
36
KICKSTARTER
$1M+$500K$100K<
KICKSTARTER.COM / HAX
“#1 VC in crowdfunding”
5 22 6 3
MILLION-DOLLAR CAMPAIGNS
$1.5M#1 in France
#13 in Technology 9,000 backers
$2M#8 in USA
#10 in Technology 40,000 backers
$1.9M#4 in UK
#5 in Design 8,500 backers
Is it a fit?
• Too early: no working prototype
• Too late: crowdfunded? shipped? fundraised?
• Wrong match: expertise, resources, location, etc.
• Outsourcing innovation: OEM, etc.
When NOT to join
• Identified a problem to solve / an unmet need
• Working prototype
When it’s right
1. What is the TEAM experience and skills
2. How is the PROTOTYPE
3. Is there a big enough MARKET for it
4. Is it HARD to do / how much BETTER / Is it DEFENSIBLE
Key Points
SCIENCE
Biotech, Nanotech, Materials, Medicine,
etc.
SOFTWARE
Algorithms AI
ECOSYSTEM
Supply + Distribution Developers
Users
DO SOMETHING HARD!
Why Shenzhen?
Why Shenzhen?
SHENZHEN
SILICON VALLEYThe silicon has moved out of
it is now in
Increase iteration speed
$500k
1 year
3 months
Shenzhen
Hong Kong
Why Shenzhen?
SpeedCostQuality
Open to startups
Why Shenzhen?
“Each wand will learn fromand teach its human partner."
— Garrick Ollivander, Harry Potter
SHENZHEN SILICON VALLEYYOU + +
