Startup Funding Espresso – Purpose of Prototypes in Commercialization

Purpose of Prototypes in Commercialization

Hello, this is Hall T. Martin with the Startup Funding Espresso -- your daily shot of startup funding and investing.

In commercializing your technology one of the most important elements is building a prototype.

Prototypes provide several benefits and should be a high priority to complete as soon as possible. 

Many inventors use their resources to write another white paper or run another experiment.

The most important purpose of a prototype is to help raise funding.

Investors will find a prototype compelling as it shows you can take the invention and make a useful product out of it.

More white papers and experiments have little impact on the investor.

Additional benefits include testing and refining the design of your proposed product.

With a prototype, you can test different configurations, materials, and designs.

A prototype helps you sell the product.

A working version demonstrates to the potential customer that you can build it.

A prototype helps you define the patents to file as the unique aspects of the project are easier to identify.

It also helps the product development team define the final product better.

Consider these use cases for your prototype.

 

Thank you for joining us for the Startup Funding Espresso where we help startups and investors connect for funding.

Let’s go startup something today.

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