How to build a hardware startup by Gimmy Chu

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Transcript of How to build a hardware startup by Gimmy Chu

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Fighting the good startup fight!Gimmy Chu | TechTO | Oct 5, 2015

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Classic Startup Story

Three friends, met at the UofT Solar Car Team, set out on a journey to create products that can change the world.

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The world’s most energy efficient LED light bulb.

PLATONIC SOLID SHAPEWith all internal angles the same, the dodecahedron is our iconic shape that allows us to create true omnidirectional light.

COPPER INTERIOR HEAT DISSIPATIONOur PCB shell works in tandem with our custom designed copper layers to offer one of the most effective heat dissipation solutions. Our bulbs are never too hot to touch!BEST-IN-CLASS PSUOur Power Supply Unit is tailored to run as efficiently as possible. Topping out at over 90% efficiency., it is one of the driving components that make our bulbs so efficient.

PRINTED CIRCUIT BOARD SHELLBesides making our bulbs more fun and unique, using PCBs as our shell material is also better for the environment. Requiring a shorter production process and consuming less resources.

CUSTOM LED PACKAGESOur custom designed LED packages are specifically made to push the efficiency levels to their limits.

UNIQUE QR CODEEvery detail about each bulb is documented and tracked. For each bulb in the Origami series, there is a unique QR code that links to an internal DB of information – detailing every component of the manufacturing process for that particular bulb.

Patented Technology

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Why Hardware is called HARD-ware

Idea

Prototyping

Supply ChainManufacturing

LogisticsFulfillment

MarketingDistribution

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Large Markets = Huge Competitors

• Investors like products that have multi-billion dollar addressable markets.

• That means we’re up against corporate giants with massive R&D budgets

How do you win? Guerrilla Warfare

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Guerrilla Warfare Tactics• Bold and attention grabbing marketing. You need to go out there

and make a lot of noise!

• Find creative ways to do things in a cost effective way!

• Attack fast with the element of surprise. Disrupt the market with innovations and pricing.

• Do whatever it takes, for however long it takes in order to succeed.

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Want to be an Entrepreneur?Willing to work for a year without a paycheck? 

Would you be willing to perform every task imaginable?- build the office, take out the trash, scrub the toilets, create the

product, the marketing material, and find the customers.

Willing to stay up all night to create a proposal that you have a slim-to-none chance of winning and then make cold calls all day the next day?

Sell your house, your car, and continue to work 18 hrs a day 7 days a week