Product Innovation
Turning an idea into a scalable, commercial product is a challenge that faces many entrepreneurs, innovators and SMEs. Developing a new product, new functionality or new customer experience can be difficult and success may not always happen. 97% of hardware startups fail (compared with 70% of tech start-ups).
The UK has world class University research and an outstanding track record when it comes to funding early stage research and innovation. We recognise that by turning more great ideas into products could have significant advantages for our economy and society.
In addition to the usual challenges associated with innovation, start-ups with products that require manufacturing face some additional hurdles such as:
- A diverse range of skills and experience
- A dependence on relationships across the supply chain, with designers, contractors and third parties
- The up-front scale of investment required is significant. Risks must be well managed and the business case compelling.
Having awareness of the key challenges and a strong network are fundamental to success. We can help you find the right people to complement your skills and experience, forge the right connections and act as a critical friend to challenge your thinking through the design to manufacture journey.
To start your journey, read our Navigating The Design to Manufacture Guide.
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Accelerating Hardware Innovation with HAX mentor Alan Clayton
Join us as we talk to HAX mentor Alan Clayton about the challenges facing hardware innovators around funding, manufacturing and design.
Read More
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