How it WorksTurn bright ideas into successful products!
Most people believe that a good idea automatically turns into a commercial success. But this is a common misconception among entrepreneurs and the general public. The truth is that the process of inventing doesn’t end in one’s head – that is just where it begins. From there success depends on quality engineering, great design, a working prototype, and the ability to manufacture a product and market it successfully.
This is where GizmoMaker comes in – a team of engineers and entrepreneurs with a passion to create and a drive to turn your ideas into reality. We use our knowledge and expertise to work with inventors to develop the idea from the initial phase to the ultimate goal: a final working prototype.
Meet one of our respected engineers to discuss your idea with no initial payment fee. Our representative will sign an agreement to assure you that your information will be kept secure.
An initial plan of action will be discussed by our GizmoMaker team. We’ll create an estimated total cost and timeline for your project and then present it to you.
Review the project for finalization. A detailed plan will be sent to you, and will include the initial research phases, a preliminary design review (PDR) including 3D sketches and CAD models, a critical design review (CDR) including production files and the price of a working prototype, and improvement iterations if required
** Note that there are no costs, charges or commitments on this phase.
Cost to expect
We’ve worked out ways to overcome pricing issues to help our young and talented entrepreneurs on their journey to transforming ideas into useful, working machines that will help their companies succeed. We all know that quality development and contract engineering isn’t cheap, but we work diligently to eliminate the “chicken and egg” financial conundrum.
Step by step development
Our development plan is divided into several independent steps which are common in any R&D project. These steps may include system design review (SDR), preliminary design review (PDR), critical design review (CDR), and several prototyping and iteration steps. Each of these stages is independent, and work can be stopped and restarted according to your company’s plan, cash flow, and/or fundraising schedule.
Dividing the work into steps means that our customers can start an initial low-cost development phase, such as the PDR, and then pause the development so as to use the resulting models and engineering work to raise money from angel investors, crowdfunding platforms such as Kickstarter, and/or even venture capitalists.
Once cash flow and funding allows, our customers start the next phases of development until a final product is ready for mass production.
Real life example:
Our customer Green City Innovation were quoted $130,000 for a full development cycle of their wall mounted air filtration system. This cost reflected several engineering man-hours, prototypes, and lab tests, and it is a cost that is usually out of reach for most boot-strapping phase entrepreneurs.
However, our initial SDR and PDR phases were quoted at $5,200 and $13,000, respectively. The initial $5,200 was funded “out of pocket” by the inventor, Dani. Then, the sketches and engineering work made in that initial self-funded SDR phase were used to present the project to the inventor’s co-founder, Emiliou, who agreed to finance the subsequent PDR phase.
With a combined investment of merely $18,5200, Dani and Emiliou were able to finish a quality design cycle and create detailed 3D computer models, prototypes of various components, and math-lab simulations of the product’s performance.
They then paused development for a period of 6 months; during this time, they managed to leverage the PDR work to raise proper funding from several angel investors based in Israel, an achievement which would be very unlikely without the detailed work provided by GizmoMaker.
GizmoMaker continued to work with Green City Innovations until their company’s acquisition by Tadiran in 2014 – a deal reported to be worth $20M in cash and stock.
With fair pricing and flexible work contract, we’re able to gain a better understanding with our clients and build a strong foundation to a successful partnership.
We love what we do and our goal is to meet the needs and exact ideas of our clients – the main character and the most important factor of our business.