Arrow Electronics launched their groundbreaking crowdfund-to-production service
OREANDA-NEWS. Arrow Electronics, Inc. (NYSE:ARW), the global technology company providing products and solutions that guide innovation forward, and Indiegogo, the global platform for entrepreneurs to bring their ideas from concept to market, today launched their groundbreaking crowdfund-to-production service, which is aimed at accelerating the pace of innovation for technology and internet of things (IoT) entrepreneurs.
This Smart News Release features multimedia. View the full release here: http://www.businesswire.com/news/home/20160825005647/en/
Arrow Electronics and Indiegogo today launched their groundbreaking crowdfund-to-production service aimed at accelerating the pace of innovation for technology entrepreneurs. (Graphic: Business Wire)
Entrepreneurs can apply for Arrow certification on the Indiegogo platform. Arrow Electronics’ engineers will then analyze the design and manufacturability of each application. Projects deemed “ready for manufacturing” will be denoted with official “Arrow Certified” badges on their Indiegogo campaign site to let potential backers know the project is ready for production.
Every “Arrow Certified” campaign on Indiegogo that meets certain eligibility criteria can compete to receive a share of $1 million in flash-funding that Arrow will give away to 20-50 campaigns during the next 12 to 15 months (for full funding details and rules, please visit https://www.arrow.com/indiegogo/terms-and-conditions).
“Arrow Certified” campaigns on Indiegogo will also lock-in up to $50,000 in benefits that help entrepreneurs succeed in prototyping and manufacturing their innovative products, which include some or all of the following:
- Direct, online access to the prototyping tools available through Arrow.com and Silicon Expert, one of the world’s largest and most comprehensive database for technology component design
- Comprehensive technical reviews of the raw materials, sub-assemblies, intermediate assemblies, sub-components, parts and the quantities of each needed to manufacture a product
- Professional design-for-manufacturing product reviews and certification
- Up to $1,000 in materials for prototype development
- Free access to the Arrow Testdrive™ program to try out the latest innovations from leading semiconductor manufacturers with no up-front investment
- Customized marketing and promotional support on Arrow.com and through Arrow’s extensive technology-focused media network
- 10 percent off and free shipping on millions of products available through Arrow.com that will help accelerate prototyping and bringing innovations to market
In addition, a handful of “Arrow Certified” campaigns that Arrow experts deem truly technologically exceptional will qualify as “Arrow Innovator” campaigns and receive additional support, which includes some or all of the following:
- Supply chain services and contract manufacturing support worth up to $500,000
- Up to $10,000 in materials for prototype development
- A dedicated local Arrow technical concierge available for on-call or on-site support
- Perk protection that guarantees campaign backers will get their money back if for some reason the product is never manufactured—providing current and future campaign backers with increased confidence
- A fast-tracked review with Arrow’s in-house financing team to help fund the cost of getting production up and running
Arrow and Indiegogo formalized an alliance in May after Indiegogo entrepreneurs had been increasingly turning to Arrow and Arrow.com to help transition innovative ideas into successful commercial products. Arrow is now a key component of Indiegogo’s efforts to support the entire product lifecycle for entrepreneurs on the platform.
Current and new Indiegogo technology or design campaign entrepreneurs interested in applying to become “Arrow Certified” should visit www.arrow.com/indiegogo.*
To celebrate the official launch of the groundbreaking the Arrow-Indiegogo crowdfund-to-production service, Arrow is giving away a free Raspberry Pi 3 single-board computer (approximate retail value of $34.99) with every purchase of $100 or more on Arrow.com today and tomorrow. Full offer details are available at https://www.arrow.com/en/research-and-events/articles/raspberry-pi-promo-details.
Halo Smart Labs Co-Founder and CEO Ben Stagg: “This groundbreaking crowdfund-to-production program will help so many tech entrepreneurs and startups accelerate their path to market and revenue. Halo Smart Labs didn’t have access to a formal production program like this when we were successfully crowdfunded on Indiegogo. However, we did have the good fortune of getting introduced to Arrow experts early on who helped us refine designs, source the right components, tackle first runs and scale to full production. Without the crowdfunding support we received on Indiegogo and without the go-to-market support we received from Arrow, we wouldn’t be preparing for the first Halo and Halo+ smart fire alarms to hit the shelves of major retailers this fall.”
Arrow Chief Digital Officer Matt Anderson: “Arrow is leading IoT design and production for many of the world’s largest companies. We are broadening these capabilities to support the rising wave of innovation coming from crowdfunding. The comprehensive design, manufacturing and go-to-market support that Arrow will provide Indiegogo campaigns will help IoT and technology innovators succeed in even greater numbers, making Indiegogo the only game in town when it comes to launching an IoT or technology idea.”
Indiegogo CEO David Mandlebrot: “This collaboration improves the experience for both entrepreneurs and backers on Indiegogo. Supporting the entire lifecycle for technology entrepreneurs—from idea, to funding, to manufacturing and ultimately retail selling—is a priority for Indiegogo and this collaboration with Arrow allows us to build on those efforts in an incredibly impactful way. At the same time, this alliance will enable backers to have greater confidence that they will ultimately receive their perks.”