CUSTOMER PROFILES: ESTABLISHED PRODUCT COMPANIES; FUNDED STARTUPS; PRE-FUNDING STARTUPS
Established Product Companies
Established product companies looking to develop new platforms or enhance features of existing products turn to NOVO because they need predictable results. These companies recognize the strategic value of establishing a long-term partnership with a contract product development engineering resource to help them manage their bandwidth requirements and budgets. Experienced product development and operations managers realize how long it takes to respond to changes in their engineering bandwidth by hiring directly, and appreciate the option to bring in proven design and development expertise on demand. They also appreciate having a single resource that can provide a complete range of product development services that span product inception through pilot manufacturing.
Technology startup companies that have run the gauntlet of raising startup capital are eager to make progress on commercializing their products. For many, the time and uncertainty related to building a direct engineering team make a contract product development company the only practical option. The nature of startups also requires that investors see results according to promised timelines in order to justify further investment. NOVO appreciates this reality and works with our startup clients to maintain optimal product development processes and satisfy the demands of investors. Our startup clients and their investors are reassured by having a partner that has the experience of multiple product development lifecycles.
Startups that have yet to raise significant capital may need to represent estimates and a development plan to prospective investors. They require some confirmation of costs and timetables for achieving their goals. They may also see a benefit in representing to prospective investors that they plan to partner with an established product development company. These clients generally have begun to establish their organizations, and have availed themselves of incubator or accelerator organizations such as CONNECT® or EvoNexus. NOVO is happy to work with qualified pre-funded startup clients to provide budgetary estimates for projects or to provide feedback on their development plans.
If you are an established product company or a funded startup, NOVO allows you to ramp up immediately with a seasoned engineering team.” If you are a pre-funded startup, NOVO can provide important counsel and be part of positioning you as an “investable” company. Contact us to find out more about how NOVO can help.