LX Innovations believe that prototyping & rapid prototyping are an invaluable tool for securing electronics product development funding, investment, pre-sales orders, and government grants.
The first and vital stage of electronics product development is to get an electronics prototype designed. They can help secure the funding and approvals needed to get an electronics, software or firmware product to the market place in a timely manner
Rapid prototypes are particularly invaluable when low-cost, fast approvals are needed for a concept. LX Innovations has the experience and resources to take a concept and develop an electronics prototype in as little as three days.
Often, investors need to see an electronics prototype to convince them to invest in an electronics product. Electronics prototypes and rapid prototypes can also help secure pre sales orders, allowing designers to order a large volume electronics manufacturing run for their product.
Internal funding and approvals can often be a hurdle to moving an electronic product into production. LX Innovations’ clients regularly use an electronics prototype to convince management of the viability of an electronics product project. Recently, a client used an electronics prototype to allow senior management to ‘touch and feel’ the device, and to see firsthand the benefits that it would bring the company. The project was a success.
In addition to investor and internal funding, there are many government grants that exist to assist with innovative electronics product development. However grants, such as the Comet Grant, also require a proof of concept electronics prototype. With an electronics prototype, a client can access a much larger pool of funds available through government grants.
As most electronic product developers and designers know, timing can be everything with product market positioning. Electronics product prototypes can sometimes take up to two years to develop, however in a fast moving electronics, firmware and software market a turnover period like this can result in lost market opportunity for the product. Simon Blyth, Electronics Engineer and director and founder of LX Innovations, is passionate about getting electronics products developed quickly and efficiently by a skilled, cohesive and experienced team.
“Electronics is a booming industry, we are living in exciting times. The frustration from previous start ups when I had gone to develop a new electronic product and by the time I had developed a business plan, raised capital, built a team, and got the resources they needed, the market opportunity was gone, drove me to establish LX Innovations . So I wanted to develop a company that had a strategic capability to develop new electronic products, quickly, really quickly," says Blyth.