Hardware is hard. Beyond the usual business hurdles and risks, designing and manufacturing with trusted partners is a challenge for most of the product companies. This also makes them a more risky deal for potential investors. That is one of the reasons it is hard to raise money for product companies.
Mos of the affordable factories, especially for early stage companies and small businesses, are located outside the US. How do you find a trusted partner and make sure your product is high quality and is delivered on time? Prior to that, you need to make sure that your product designs are taking manufacturing costs and logistics into account.
At Startwise, we mainly work with consumer product companies and while we help them by providing a business funding solution, we also want to make sure they grow. As we use revenue sharing model, we want to make sure entrepreneurs can grow sales and their cost of goods makes sense from the financial standpoint. Finding such balance will help both business owners and investors happy. But how can this happen?
This is where the Idea House & Co. come in. Their team reached out to us with one simple message: Let’s work together to help small businesses and startups grow! They would provide product design and manufacturing help to entrepreneurs who need it and we would help them with funding the business. “We all grow together. The better the products turn out, the more will need to be made. It takes a community to grow the small business economy.” Yes! Yes, we want to team up! And so we did.
Now, product companies in need of funding and product design have partners to turn to. And investors can be sure that there are trusted resources to help these companies grow so they get their return on investment faster and minimize the risk.
We are excited to team up with the Idea House & Co. who have over 22 years of experience in the product design space and are ready to offer help to dreamers, inventors, and entrepreneurs. Welcome to Startwise Family!