Launch your product in only 6 months
Building a business is hard, especially in high-tech hardware. All for a reason. As a hardware startup founder, you face a long list of risks. Navigating through the jungle of earning customers, product development, and setting up manufacturing processes, while trying to finance the whole darn thing, eventually leaves you with the feeling that you’re chasing your own tail. The further you go, the more your team and resourcefulness will be put to the test. So, why go at it solo?
We built HighTechXL to lend a hand. HighTechXL is here to shorten the list of risks and accelerate your market launch. We will run with you, taking away your major headaches. Why? Because high tech runs in our blood. We take pride in our long history of innovating our way to market leadership: From Philips, to ASML, to Shapeways. Collectively, we possess the know-how, the high-precision engineering talent, and the network to carry the weight of an early-stage startup team when they most need it. Because no great success is ever achieved in a vacuum.
The disruptive potential of a hardware startup lies in a shrewd business model. Validating it is an imperative for success. It is lean startup methodology rule #1. At HighTechXL, we dedicate a full team effort to helping you to build a strong business case, validate it, and refine its value proposition to cater to prospective customers.
The transition from prototype to a fully-fledged product requires quite a few iterations and a lot of time, which you most likely don’t have. You will need space, equipment, and an experienced engineer’s eye to bring it to perfection. We partner with state-of-the-art prototyping companies to help you iterate quickly, and with exceptional technology mentors to help you advance your product.
Launching customers and strong partnerships give your business enormous credibility. They also maximize your chances to negotiate funding. Our partners – ASML, Philips, EY, ABN AMRO, and more – will be the first companies to explore the possibilities for collaboration with your startup. But they’ll also be the first to give you a hand with, for example, market data.
Being able to ship to the doorsteps of customers comes with a whole lot of challenges. Design for manufacture and setting up a supply chain in operation is another chapter we open up for you. HighTechXL works with trusted suppliers and manufacturers, who can deliver both low and high volumes.
Crowdfunding might come in handy, but not for long and not for everyone. Fundraising is downright one of the biggest headaches early-stage hardware startups have to face. Both due to there being fewer investors willing to make a bet on hardware, and the fact that the capital needs of hardware startups are high on average. We have a track record of securing early-stage finance and seed rounds of an average of €500K.
This is the dirty work that no one wants or knows how to do, but just has to. Investors want proof of your scaling potential. In hardware, margins are closely linked to bill-of-material, and thus harder to project a growing hockey stick. Luckily, we have a powerful team of financial experts to help you underpin your business case with a robust financial model.