12 Funding Sources for Hardware, IoT and Robotics Startups

Ways to fund your physical product startup: Funding is critical to the success of any new physical product development project. It’s one of the key ingredients on top of a great idea, a talented team, and a tight product-market fit that every company needs to push forward to market.   Physical product development is a cash flow business, necessary to get to market, manufacture, ship to customers, and scale your sales. Over 25 years, Design 1st has seen 1000+ physical product development projects move from concept to manufacturing. Each of these projects navigated funding challenges.    To help you […]
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How Much Do Product Design Firms Charge?

There are three financing models for new product design and development: Flat Fee, Hourly Fee For Service, and Reduced Fee + Equity. Searching for a product design firm to help with your new product idea is tough. A quick Google search will give you dozens of potential firms with a range of services, pricing models, and experience. The challenge is choosing the right firm that will deliver a successful project right, the first time.  Understand what finance models firms offer will help you make the right choice.   To help […]
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Investing in Product Design Brings Big Rewards

Inventors are unique. They often toil alone, working with minimal resources as they chase the wisp of an idea. When they achieve those eureka moments — that point when all the thinking, sketching, tinkering and building produce a viable product — they are just beginning. It takes money to take that innovative or creative new idea or product to the market and that is where investors can play a crucial and possibly lucrative role. Many would be investors shy away from this type of investment, claiming the risks are too […]
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Build in Canada Innovation Program (BCIP)

The Canadian government is putting fuel in the tanks of new startups and helping kickstart their business through a innovative funding program dedicated to helping startups commercialize new products. It’s called the Build in Canada Innovation Program (BCIP), and the Canadian government has earmarked as much as $500,000 for new products that can improve the efficiency and effectiveness of various government departments.  These small business grants are earmarked under four key “priority areas” for aid including: Environment Safety and security Health Enabling technologies Fit the bill? Then seek that start-up […]
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Kickstarter Launches in Canada

It's an exciting day for enterprising Canadians! Kickstarter - the largest global crowdfunding engine has officially launched its Canadian operations! What is Kickstarter? If you're not familiar with Kickstarter - its a crowdfunding platform for creative projects. These projects may include new inventions, gadgets, products, music, art and film. The concept is simple, anyone can "donate" to a project they want to see completed in return they get rewards which may include the end project, behind the scenes access to its design or anything else you can imagine! How does […]
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$4 Million in Funds Available for Startups

Do you have an idea, product or start-up with commercial promise? Precarn is an independent NFP (not-for-profit) company that helps support the pre-commercial development of leading-edge technologies. On April 1st, Precarn announced a influx of $4million for startups that show commercial promise. The criteria for funding is: A focus on small (2-50 person) companies and start-up companies; Maximum funding is up to $100,000; Maximum Precarn support is 40% of total project costs; Project duration of nine months or less;  and, 50% of Precarn’s contribution will be paid at midterm of […]
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