Questions, answers and resources
What is this?
Do your research and be realistic about timeframes. You want to have certainty about when you can supply your product so you can plan an effective launch strategy.
Risks
- Committing to a launch date that you then can't meet can cost you time, money and goodwill
- Timeframes that are outside your control can impact the ones you do control
- Unexpected costs can delay or derail your product launch
What is this?
You want your design process to push the boundaries and innovate as much as possible, but it is also important to establish parameters as you progress, to optimise your design time.
Risks
- Something crucial you've overlooked invalidates some or all of your design and development work
- You miss an opportunity to add increased value
- Expensive loopbacks slow you down and waste resources
Resource(s) linked
(Reference) NZ Professional Bodies register | Provided by ENZ
What is this?
Industry 4.0 integrates data gathering and AI into product development and manufacturing, to help you continually improve your processes and make adjustments informed by data.
Risks
- You shorten the potential life cycle of your product
- You reduce your ability to evolve the product based on user data
- You miss the opportunity to make the product part of a wider ecosystem that customers can be upsold to
What is this?
You want a clear idea of the overall costs of developing your product and launching it, with some fat built in for unexpected delays or additional costs.
Risks
- Unexpected costs slow down development
- You don't have the funding you need to complete the product and launch it
- You need to rescope your pricing structure to accommodate a budget blowout
Resources linked
- (Funding) Start-up Equity Investment | Provided by Angel Association
- (Funding) New to R&D Grant | Provided by Callaghan Innovation
- (Funding) R&D Funding | Provided by Callaghan Innovation
- (Funding) Start-up Equity Investors | Provided by Icehouse Ventures
- (Funding) NZ start-up funding sources | Provided by Matu
- (Funding) Growth Capital | Provided by NZ Growth Capital Partners
- (Funding) Green Investment Finance | Provided by NZGIF
- (Funding) International Capital | Provided by NZTE
- (Reference) ScaleUp NZ | Provided by Callaghan Innovation
What is this?
As you learn new information about your customers, markets or manufacturing process, you want to be able to accommodate changes without losing momentum.
Risks
- You hit a design roadblock you can't get around
- You miss the opportunity to incorporate a valuable new idea or input
- You waste time and resource when you need to change direction