The Startup Junkies Podcast

06: The Internet of Things

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Bryon Western and Jim Lewis of Little Bird Systems talks with us about the internet of things.

The Product

  • Rapid Commercialization System for the Industrial Internet of Things - lego building block approach to building electronics 
  • Difference from other companies : Giving the very quick path from the bench-top prototype to something that they can commercialize and take to market.
  • Internet of Things - trend in industry that connect electronics to any physical object, measure data on such object and perform an action on that object.
  • FOCUS : Industrial Market
  • Bandwidth Discipline - optimize protocol - system that are not highly bandwidth thing 
  • Sale Cycle -  Up to a year from completion of development cycle (which takes about 18 months to 2 years) for them to get back or realize income

    • The Business Model and How Money is Generated from this product

    • GOAL :  To move people from that bench-top prototype  to a 2nd stage ruggedize prototype (mass produced unit) - provide service to create their customer electronics - sell them the hardware they need to sell their products to customers

      • (JIM’s Perspective on what they do) 

      • What is the market? 15 Trillion dollar market 
      • Glad to have partners with business intellects

        • How to startup a company (based on their experience)

        1. Laying plans - what is the market? how to approach the market? what would set you apart from someone else? 
        2. Getting everything in place - operating plans, financial model 
        3. Opportunity to make difference in the world, in the industry you are attacking 

          4. (BRYON’s Perspective on what they do) 

          • Be involved - hire people who can contribute 
          • Entrepreneur Programs could help you operate the business - adding technical knowledge
          • CEO vs employee in the startup : As an employee, you have to deal with every aspect of the business - keeping contacts - inform the people what you are doing and Delegating tasks - trust people that they can also do what you can do 

            • ADVICE : Creating a company Based on Technology 

            • Get a business person - somebody who have worked with technology - if you explain something to somebody and don't they get it, it is not their fault it's your fault - practice the skill of simplifying things and communicating it to people 

              • What’s the future of Technology-based businesses in Arkansas

              • Prediction: 2020 - 50 billion devices will connect to internet - whereas right now 90% are not connected.
              • What’s right in Arkansas as an area of startup technology companies? 
                • A lot of Manufacturing and Agriculture is going on so the advantage is you can get first hand information from people who needs the solution
                • For Arkansas to grow with technical startup companies/businesses
                  • companies must be responsible for specifically defining what is to be done to be a technical startups (e.g. execution of invention assignment agreements) 
                  • Research areas must be confined to such specific business that they are in 

                    • Our contact info:

                    Jeff Amerine[email protected]www.startupjunkieconsulting.com

                    Jon Cadieux[email protected]www.455mediagroup.comwww.bentonvilleworkplace.com

                     

                     

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