Hax @ HardwarePRO

Is a Hardware Accelerator

Right for You?

Benjamin Joffe, General Partner, HAX ben@hax.co | @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 + +

Questions?

ben@hax.co

@benjaminjoffe