tech-company, product, hardwareI recently built a computer chip that does a specialized task. I want to take it to market. I have the prototype built and ready to be mass produce what would the next steps be? How do I go about getting into people’s hands? I am wondering exactly how to start working with factories on producing the product, Is overseas production the way to go and how would I go about getting a small batch produced?
You’ve made great progress so far but there are still several things you should consider. First and foremost, you need to protect your interests and your new product. Consider filing for a patent for your product and your design. The key to any successful company is the protection of the company’s assets.
Another step you may consider is incorporating as an LLC, S Corporation or C Corporation. Which you choose depends on several factors including the number of employees, the expected growth, projected revenue and desired taxation method. For a startup, an LLC would probably treat you fine.
Finally, you’ll need to determine how you want to market your product. What are you distribution channels going to be. Will you sell the product independently, through another retailer (in a brick-and-mortar store or online) or license your product to a manufacturer or OEM customer. Having a business plan will help you grow and scale your business over time.
As a disclaimer, I’m not a lawyer. For incorporating and filing a patent, you should seek legal advice from the proper counsel to understand the course of action that best suits your company. Best of luck!
The answer to the question “How do I go about getting into people’s hands?” depends very much on who your customers are / will be.
I assume you built the chip with some particular problem or a benefit in mind. Who else has this problem or who else could benefit from this new feature?
I would suggest that you identify ten individuals (or companies… but in the end companies consist of people) who could benefit from your product and start to pitch them. Massproducing before you know who would / will buy is no good.
If you tell us what your product does (privided you are comfortable) you might get better answers.
Good luck in any case!
I am a bit shocked about you asking this question now when you have prototype developed, as in IMHO it should have been asked before you even started building the prototype in the first place (I am no chip expert, so please forgive me if I am dead wrong here), so I hope you do not mind if I will answer the question in a way how I think it should have been done.
When one comes up with idea, he usually does market research before building anything, by market research I mean finds a list of potential clients, and finds out how are they solving the problem you have idea on solving better, then gets a rough estimate on how much does it cost to them and how much would be ones production costs, what volumes would be and so on and only then starts build prototype to confirm these estimates. That way when prototype is ready and working you patent it (if it’s still cheaper) and approach your initial candidates with ready solution and numbers on how much they will save by using your product instead of what they are using at the moment.
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