We know who our target customer is and how we will make money on them.
- Stress testing of product/market fit
- Daily customer interviews testing hypothesis, present findings to all startups
- Competitor landscape open crits
- Pitch to all mentors to validate business plan and match with a mentor
- Legal structure of company & equity divide
- Patent, trademarks & other IP issues
- Business Model Canvas
- Prototype/MVP Crits
- Intro to Solidworks
- Sourcing – identify suppliers
- Manufacturing equipment training/certification
- Social media momentum
- Accounting setup
- Revenue model
We know how to reach our target customer and what our prototype needs to include to be compelling to them.
- Data crunch on works-like prototype
- Customer testing of looks-like prototype
- Additional hypothesis testing
- Rapid prototyping equipment training
- Finalize material selection
- Marketing plan creation
- Crowdfunding planning
- Monthly Business Review
- How to give/receive effective feedback
- Meetups and startup outings nationwide
We are ready to take this prototype version to market. We know how much it will take to get a mass following and get the product mass produced.
- UX and software development
- Customer testing of works-like prototype
- Finalize prototype for mass production
- Selecting a CM and manufacturing agreements
- Fulfillment and logistics
- Advanced marketing tactics
- Scaling your company
- Attracting/retaining the right talent
- Trip to China/Mexico/US manufacturers
We know how much money we need to raise to have a successful hardware-based business and we are prepared to find like-minded investors for our journey.
- Mock due diligence (ex: be able to pronounce EBITDA, the files you need in your dropbox)
- Post MiLA plan
- Develop metrics – customer acquisition, digital marketing
- Building, compensating, and managing a sales force
- Building a world class board
- Monthly Business Review
- Prep for further investment
- Mock Pitches
- Local media events, line up pitch events
We’ve sought out diverse start up mentors from across the country to share their expertise on building a successful business. You will have access to various business tools, resources, and engineers from our ecosystem, as well as the NEO Tech (electronics contract manufacturer) and Hexlab (makerspace) ecosystems. Additionally, we’re provided you with a top notch workspace, complete with all the tools necessary to help design develop, prototype, and manufacture your product.
Our goal is to get you to the next milestone. Often that is a fundable prototype. We help prove out the product and market to set up for massive growth. While $25,000 for 6% is typical, we understand that hardware has some additional costs (parts, molds, inventory, etc) that most start-ups don’t face. That is why we offer startups $600,000 in two rounds. On day one, $10,000 plus free range of our resource-jammed facility for 7.5% equity. Upon graduation, half of our companies will make it to the finish line and receive $500,000 at whatever terms your company is worth.
Our goal is to get you to a fundable prototype. We help prove out the product and market to set up for massive growth. While $25,000 for 6% is typical, we understand that hardware has some additional costs (parts, molds, inventory, etc) that most start-ups don’t face. That is why we offer startups $150,000 in two rounds. On day one, $75,000 plus free range of our resource-jammed facility for 7.5% equity. Upon graduation, you will receive $75,000 at whatever terms your company is worth. And it’s in our best interest to maximize your company’s value in the marketplace.
Once accepted into our four month program, the clock is ticking. To fast track your business, you and your team will work full-time out of our Chatsworth facility where you will build the foundation of your company.
Once accepted into our four month program, the clock is ticking. Our partner team will work hands on with you on a daily basis. To fast track your business, you and your team should plan to work full-time out of our Chatsworth facility where you will build the foundation of your company, iterate on your business, tweak your prototype, and plan for the future.
With one of the busiest international airports servicing all corners of the globe, and a seaport that handles nearly half of all US port traffic, LA is a melting pot with 224 languages spoken in the county. Building a business in LA has been an advantage for our teams in their customer discovery. Most people know that LA does aerospace, media and entertainment well, and we have leveraged that creative talent to build great businesses around VR, hardware, medical devices, and much more. LA has more manufacturing jobs than any other metropolitan area in the US, and our universities graduate more PhDs than the bay area.