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Hi ComputerGuru, I guess the main question for me is, what stage are you at? Have you done adequate manufacturing engineering? Worked on the factory contacts?

Hi ComputerGuru, I guess the main question for me is, what stage are you at? Have you done adequate manufacturing engineering? Worked on the factory contacts? Just getting started on the science? Working on product refinement? A few demos out and helpful? In terms of investors that I know about, both Khosla Ventures and Kleiner Perkins are willing to invest in hardware projects with huge potential: with Khosla Ventures even at the science project stage. Angel investors are also pretty good bets, due to the social good angle. Due to your describing it as 'hacked together,' and the lack of IP protection thus far (you should consider filing for provisional patents ASAP, they're far less expensive), you're probably seed or series A stage for Khosla Ventures, possibly too early for the other VCs that I know about, but potentially you could also raise money from a variety of foundations and from NIH, for example. Good luck! If you'd like to contact me I can be reached at dani.fong at google's mail service.

ComputerGuru 17y ago
Currently, the science is all complete, the hardware is pretty much polished as is the firmware. The mechanical parts are the real problem; currently built at local metal workshops and some CNCs. I have a single demo unit that is working great, and have ideas for future improvement that would need access to more than a local workshop. Haven't actually gotten in touch with anyone for real manufacturing mainly out of IP fears - I'm in the initial stages of talking to an IP lawyer now, but haven't actually handed over any of the inner workings partially out of paranoia and partially because I'm not sure what I'm looking for just yet. I'll take your suggestion and look at provisional patents in a few. Basically both the idea and the implementation are novel and are what I'm looking to patent. The actual mechanical details are out of my field of experience (computer engineering) and I have several different designs and I'm sure someone in the industry would have better ideas as well - that's something I'm hoping a VC could help me secure, somehow. Thanks for the Khosla Ventures suggestion. I'll keep them in mind as I formulate my list & next steps :-)
- DaniFong 17y ago
  Take some videos of the thing working, and post them somewhere that you track and that's password protected. The reason for this is so that you can easily show one person at a VC firm, who, if excited, can easily show the rest. A working prototype is the litmus test for VCs, who by the nature of their trade can rarely be experts in everything. If you've got the money to fast track a provisional patent, so that you can say "We've filed a provision patent," it will give you major credibility, more negotiating leverage, and in particular you'll have the IP that VCs want. You definitely need to open the kimono a bit. In particular it is practically unheard of that a patent lawyer will screw you -- more often they will just take your money. A patent lawyer's entire career is ruined if they're caught stealing -- whereas you could probably still succeed by out-executing and out-innovating the competitors. Best
robg 17y ago
Let me emphasize SBIRs at NIH most especially if you're serving a medical market. The money is good and they'll take you from prototype to market starting usually with less than $100k and over three stages to over $1M. The application process is a bit troublesome but no more troublesome than meeting with each and every VC. Check out: http://www.sbir.gov/index.html http://www.sbir.gov/index.html When you see an opportunity that could fit, contact the program officer. Talk to them about about what you're working on and how it fits. Most importantly, keep checking back.

ComputerGuru 17y ago

Currently, the science is all complete, the hardware is pretty much polished as is the firmware. The mechanical parts are the real problem; currently built at local metal workshops and some CNCs. I have a single demo unit that is working great, and have ideas for future improvement that would need access to more than a local workshop. Haven't actually gotten in touch with anyone for real manufacturing mainly out of IP fears - I'm in the initial stages of talking to an IP lawyer now, but haven't actually handed over any of the inner workings partially out of paranoia and partially because I'm not sure what I'm looking for just yet. I'll take your suggestion and look at provisional patents in a few. Basically both the idea and the implementation are novel and are what I'm looking to patent. The actual mechanical details are out of my field of experience (computer engineering) and I have several different designs and I'm sure someone in the industry would have better ideas as well - that's something I'm hoping a VC could help me secure, somehow. Thanks for the Khosla Ventures suggestion. I'll keep them in mind as I formulate my list & next steps :-)

DaniFong 17y ago
Take some videos of the thing working, and post them somewhere that you track and that's password protected. The reason for this is so that you can easily show one person at a VC firm, who, if excited, can easily show the rest. A working prototype is the litmus test for VCs, who by the nature of their trade can rarely be experts in everything. If you've got the money to fast track a provisional patent, so that you can say "We've filed a provision patent," it will give you major credibility, more negotiating leverage, and in particular you'll have the IP that VCs want. You definitely need to open the kimono a bit. In particular it is practically unheard of that a patent lawyer will screw you -- more often they will just take your money. A patent lawyer's entire career is ruined if they're caught stealing -- whereas you could probably still succeed by out-executing and out-innovating the competitors. Best

robg 17y ago

Let me emphasize SBIRs at NIH most especially if you're serving a medical market. The money is good and they'll take you from prototype to market starting usually with less than $100k and over three stages to over $1M. The application process is a bit troublesome but no more troublesome than meeting with each and every VC. Check out: http://www.sbir.gov/index.html http://www.sbir.gov/index.html When you see an opportunity that could fit, contact the program officer. Talk to them about about what you're working on and how it fits. Most importantly, keep checking back.