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[ANN] Lab102 - Hardware Startup Asset Concept  
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Author Topic: [ANN] Lab102 - Hardware Startup Asset Concept  (Read 3552 times)

project-roodi

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[ANN] Lab102 - Hardware Startup Asset Concept
« on: January 04, 2015, 09:02:55 pm »

This is the official announcement of our first asset idea: project- roodi

Attention: This asset is not live yet. We want to start a conversation with the community and help potential investors understand our plans. For people concerned about trust issues due to limited amount of posts, please continue read our announcement. We will not start the project until the community validate our idea.

Please share your feedback and propose any features that you think we need to add. Thank you.

1. What is Lab102?
Lab102 is a new hardware start-up aiming to create robotic projects. Roodi is our first project.

2. What we do?
Our passion is to build robots. Robotic kits usually are expensive and not always suitable for inexperienced users. We want to provide low-cost robotic kits that are easy to build with step-by-step instructions that anyone can follows.Our first project is a fully functional robot based on a Raspberry Pi.

Meet Roodi! The first crypto robot!

Raspberry Pi is a low cost credit-card sized computer that can be used as a platform for building robots among numerous other projects.

3. Why Raspberry Pi?
It is inexpensive. You can do a lot of interesting stuff with it. Raspberry Pi supports wireless control and programming a Raspberry Pi is easy. A camera module is available and opens the possibility for awesome projects. Using Raspberry Pi will decrease the amount of time we need to design and build a working prototype.

4. Open or closed source?
The project is Open Source. This means that all of the design and code files will be freely available for everyone to download. A lot of users will build cool stuff with our robot.

4. The Team
We are a group of five passionate hardware experts. The team consist of two electronic engineers (microelectronics and embedded systems), a mechanical engineer, a product designer and a digital designer. We all together form a strong team willing to bring our project into life.

4. Why Cryptocurrencies?
We follow the cryptocurrency scene for more than a year. The ability to crowdfund a project using crypto-assets is something that opens new horizons. After reviewing many of the options we believe that Nxt Asset Exchange is suitable for us. We want to use Nxt AE as a crouwdfunding platform and we hope our project will help bring more adoption for cryptocurrencies. A hardware startup using crypto-assets to fund their project is something new and will raise interest.

4. The Plan
Phase 1 - Prototyping Stage
We want to use escrow for all the transactions. Anyone that is willing to help as an escrow please contact us. Community trust is a key factor. We will not start the project until we will find the right escrow. Escrow service will be rewarded with 2% of the shares.

1. Total Available shares: 100000
2. What price will they be sold at: 20nxt each (subject to change with exchange rate)
3. 80000shares (80%) will be sent to escrow.
4. Escrow will keep 2000 shares as a fee.
5. 78000 will be available to anyone willing to invest.
6. 20000 shares (20%) will remain to our company. We pledge to not sell these shares.
7. We will keep no profit from sales. Our profit will be in form of dividends like anyone else. We want to gain community trust. The successful outcome of the project will reflect to our profit as a company.
7. All funds from Phase1 are for developing and manufacturing purposes.
8. Expected prototype product in 2-3 months.

Extra insurance for investors
Escrow will give us only 20% from raised funds. Another 20% after the first month of developing. We are not a scam and we care about our investors money. We will provide frequent updates in forms of blog posts, images and videos. If the community is pleased, escrow will continue supply us with the raised funds partially. We try to raise approximately 100btc. Upon research similar projects have raised more funds in crowdfunding websites like kickstarter and indiegogo (examples below). We want to secure investors ROI and extra profit.

examples:
hxxps://www.kickstarter.com/projects/1320310506/tiddlybot-fun-and-simple-raspberry-pi-robot
hxxps://www.kickstarter.com/projects/john-cole/gopigo-the-delightful-raspberry-pi-robot


Only after Phase2 (working prototype ready) escrow will give us the remaining funds (60%).

Phase 2 - Production Stage

1. After prototyping stage the next step is to crowdfund our project in a public website (either with bitcoins or fiat).
2. All the raised funds(excluding manufacturing and shipping cost) will return to investors as dividends.
3. ROI will be achieved in shorter time.
4. Proper advertisement means a successful Phase2 and shorter ROI.
5. In both cases (crowdfunding with fiat or bitcoins) investors will have the ability to track the amount of raised money.


 Phase 3
1. Product available from our webstore.
2. Dividends paid weekly (every Sunday)

Future Plans
This is our first asset issue at NXT AE and only for our current robotic project (Roodi). At the same time is an experiment. Hardware startup crypto-assets is something new. We will work hard to achieve our goals. The next phase is to issue company shares (Lab102) for all our future projects. There will be available a way to transform current shares to future shares after a successful completion of project-Roodi.


First steps: Until the end of this week we will have online our website. We want to hear all your feedback and fix any problems. More details of the project will be available and then we start our campaign.
We are based in Europe. We plan to attend  BitcoinExpo 2015 (January 24-25) in London and we want to advertise our product there.

(Sorry for grammar mistakes, English is not my main language)
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Sebastien256

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Re: [ANN] Lab102 - Hardware Startup Asset Concept
« Reply #1 on: January 04, 2015, 10:59:54 pm »

Hi, welcome to Nxt. :)
Interesting project. Since this project is all open source, may I ask how this project is to be substainable in the long term?
Thank you.
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whatnxt

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Re: [ANN] Lab102 - Hardware Startup Asset Concept
« Reply #2 on: January 05, 2015, 12:22:43 am »

I am concerned about phase 2 and crowdfudings chances of success if you already have investors.

There are many questions, some follow:
How much do you need to raise to go into production?
How many kits are you going to produce?
Who are you targeting the kits at?
Why will your target audience buy your kit and not someone else's?

What is the profit margin on a kit?

How are you going to compete with people who take your open source plans and mass produce kits?

Who in your team has business experience?
 
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Nxter

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Re: [ANN] Lab102 - Hardware Startup Asset Concept
« Reply #3 on: January 05, 2015, 12:47:27 am »

welcome!
Im interested!
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Darkhorse

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Re: [ANN] Lab102 - Hardware Startup Asset Concept
« Reply #4 on: January 05, 2015, 01:11:38 am »

Talk to the Jinnlab's team. I can see both of you are on the same path.
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bubbletea777

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Re: [ANN] Lab102 - Hardware Startup Asset Concept
« Reply #5 on: January 05, 2015, 05:55:03 am »

Watching!
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13Darko

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Re: [ANN] Lab102 - Hardware Startup Asset Concept
« Reply #6 on: January 05, 2015, 09:11:21 am »

Hi! And welcome to NXT!

I think everyone here would be pleased to look at your works. Or will we be able to see them once the website is online? Thank you.
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Ludom

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Re: [ANN] Lab102 - Hardware Startup Asset Concept
« Reply #7 on: January 05, 2015, 10:06:10 am »

For the escrow, you can ask to NXTinspect. They are serious and well known in the community. They can be escrow and make a review of your project.
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project-roodi

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Re: [ANN] Lab102 - Hardware Startup Asset Concept
« Reply #8 on: January 05, 2015, 11:51:01 pm »

Hi, welcome to Nxt. :)
Interesting project. Since this project is all open source, may I ask how this project is to be substainable in the long term?
Thank you.

Thank you for your interest!

An easy answer to your question: Open source projects gain a lot of traction on crowdfunding sites and usually you don't release the designs of your project while crowdfunding period lasts. After the end of the crowdfunding period you have already your first customers and then you release the files (designs+code). Even if you loose some sales due to open source concept you gain on popularity and you still continue to sell kits in the long term. However "whatnxt" has raise his concerns about crowdfunding in phase2 so I will add some more facts.

We base our project  on simplicity. Easy to build, simple step by step instructions, code that works. If you follow the tutorial you end up with a fully working robot. If you are a normal person (not a geek!) you don't care about sourcing the components through the Bill of Materials (BOM), buying the parts from different suppliers, sent the pcb designs for fabrication , wait a couple of weeks for the pcb board to be shipped back to you and then start building the robot. You just buy out kit and you are happy!

At the same time open hardware give motivation to makers to use our project for their own ideas, add more features and functionality. We will use a creative commons license that allows others to tweak, redesign, remix, or build upon our design as long as they creadit for the original creation and link back to us. Eventually our product gains popularity (examples are projects like Arduino and Raspberry pi itself).

Any PCB designed by us to add functionality will be also available as a stand alone product from our web-store. Even if someone wants to source some of the components (for example he already owns a Raspberry Pi), he can still buy our PCB. There are 3 million Raspberry Pi  boards already sold out there (potential market that we target).
 
There are a lot of sites, blogs and forums out there that praise every open source hardware project and not even bother to talk about close source ones. Open hardware is trendy. With the suitable campaign we will end up having a lot of coverage.
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whatnxt

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Re: [ANN] Lab102 - Hardware Startup Asset Concept
« Reply #9 on: January 06, 2015, 01:10:20 am »

Hi, welcome to Nxt. :)
Interesting project. Since this project is all open source, may I ask how this project is to be substainable in the long term?
Thank you.

Thank you for your interest!

An easy answer to your question: Open source projects gain a lot of traction on crowdfunding sites and usually you don't release the designs of your project while crowdfunding period lasts. After the end of the crowdfunding period you have already your first customers and then you release the files (designs+code). Even if you loose some sales due to open source concept you gain on popularity and you still continue to sell kits in the long term. However "whatnxt" has raise his concerns about crowdfunding in phase2 so I will add some more facts.

We base our project  on simplicity. Easy to build, simple step by step instructions, code that works. If you follow the tutorial you end up with a fully working robot. If you are a normal person (not a geek!) you don't care about sourcing the components through the Bill of Materials (BOM), buying the parts from different suppliers, sent the pcb designs for fabrication , wait a couple of weeks for the pcb board to be shipped back to you and then start building the robot. You just buy out kit and you are happy!

At the same time open hardware give motivation to makers to use our project for their own ideas, add more features and functionality. We will use a creative commons license that allows others to tweak, redesign, remix, or build upon our design as long as they creadit for the original creation and link back to us. Eventually our product gains popularity (examples are projects like Arduino and Raspberry pi itself).

Any PCB designed by us to add functionality will be also available as a stand alone product from our web-store. Even if someone wants to source some of the components (for example he already owns a Raspberry Pi), he can still buy our PCB. There are 3 million Raspberry Pi  boards already sold out there (potential market that we target).
 
There are a lot of sites, blogs and forums out there that praise every open source hardware project and not even bother to talk about close source ones. Open hardware is trendy. With the suitable campaign we will end up having a lot of coverage.

I agree that Arduino and Raspberry Pi are successes and I have bought the boards to play with. However that is two successes amongst how many failures?
What made them successful? Where they the first in the market? Was it the support supplied at the start? Was it the contacts and so the publicity that the individuals could create. Was it the targetting of educational establishments that are strapped for cash? Was it selling the (ironic) dream that everyone will create intellectual property in the future. I do not know, I have not studied the area. I am hoping that at least one of you have?

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project-roodi

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Re: [ANN] Lab102 - Hardware Startup Asset Concept
« Reply #10 on: January 06, 2015, 01:34:29 am »

I am concerned about phase 2 and crowdfudings chances of success if you already have investors.

There are many questions, some follow:
How much do you need to raise to go into production?
How many kits are you going to produce?
Who are you targeting the kits at?
Why will your target audience buy your kit and not someone else's?

What is the profit margin on a kit?

How are you going to compete with people who take your open source plans and mass produce kits?

Who in your team has business experience?

Thank you for your interest and your questions. Community feedback is valuable.

About your concerns for phase2 crowdfunding:
The phase2 crowdfunding is for selling our first kits and pay the first dividends in shorter time back to investors. Phase1 investors will help us develop our project, they are partners not customers.

Can you explain more why you are think is not a good idea? Today we came across Nxt Monetary System. We haven't examine all the details yet but do you think could be a good idea if we experiment with the Monetary System instead of  crowdfunding. (as an example, we could create an altcoin, our robotic kit will be purchased using the new altcoin, our altcoin has a real value bind to a hardware device... just a quick thought we will examine this idea more). Always we could just make the kit available from our web-store eliminating phase2. The funds from phase1 will be enough to go into production even if we raised half of the money. I will explain this more:

1.All the funds from phase1 are for development and production. Our profit will be in form of dividends from our shares. More flexibility for us to produce a big amount of kits. Phase1 raised funds will define this amount and we could easily adjust this number(main parts like raspberry pi board, motors and camera are easy to source).

2. We plan to use 3d-printing to produce some parts. We own 3d-printers already so the production cost will be less. 3d-printing is trendy, good for our project publicity and will add the feature of customization to our product.


Who are you targeting the kits at?
We target from kids to adults. Anyone that has an interest in robots. The instructions will be easy to follow from beginners and the platform will be open source so hobbyists and experienced users can adjust it to their needs. It will be a fun way to spend your time, experiment with robots and learn basic programming and electronics. Also we target all the cryptocurrencies fans that all these years ask for more services and more ways to spend their coins. Here is their chance to support us :)


Why will your target audience buy your kit and not someone else's?
Nice question! We are not just two electronics engineers try to make a robot. We have a product designer and a digital designer in our team. The guys that are responsible to make something look beautiful! :)  We want to add 1-2 features that are cool and attract people's attention. For example could be extra sensors, a mobile app etc. We brainstorming at the moment. The issue of shares will not start until we provide all the features of our project. So please stay tuned.

What is the profit margin on a kit?
We think it is wiser to answer this question when the full list of project features and specifications is available. Again, the issue of shares will not start until we provide all the info and suitable adjustments will take place if needed.

Who in your team has business experience?
We all have prior working experience in start-ups. We know the tips and tricks :) Additionally  we have attend entrepreneur seminars to learn more.

I hope we answer all the questions. Thank you again for your interest.
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whatnxt

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Re: [ANN] Lab102 - Hardware Startup Asset Concept
« Reply #11 on: January 06, 2015, 03:01:42 am »

About your concerns for phase2 crowdfunding:
The phase2 crowdfunding is for selling our first kits and pay the first dividends in shorter time back to investors. Phase1 investors will help us develop our project, they are partners not customers.

Can you explain more why you are think is not a good idea?

From the investors point of view, its a great idea, crowdfund and use the money to pay yourself. From a crowdfunders point of view, I would not give you any money if I thought it was only going straight to the previous investors. instead I would become an investor so I could get some crowdfunder money handed to me.
Is it just me thinking this?

Maybe its the way you wrote it?
Using the crowdfunding as a form of promotion and to sell a sufficiently large volume of kits (to be able to negotiate with suppliers) is fine with me, everyone benefits in that scenario. The money goes to the right places the crowdfunder agreed a price, any surplus (because of larger demand than expected better margins etc) is reinvested goes to investors as dividend.

By the way NXTWEB run a crowdfunding site see: https://nxtforum.org/index.php?topic=6175.msg126434#msg126434 which you could use to give the Crypto community access but not as a substitute for mainstream sites with a different audience.
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project-roodi

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Re: [ANN] Lab102 - Hardware Startup Asset Concept
« Reply #12 on: January 06, 2015, 11:53:46 pm »

Hi! And welcome to NXT!

I think everyone here would be pleased to look at your works. Or will we be able to see them once the website is online? Thank you.

Hi 13Darko and thank you for your interest. You are right. The website will contain all the information about our project. We plan to have 2-3 blog posts a week with pictures and videos showing the developing stage. Of course we will also post here any updates.
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project-roodi

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Re: [ANN] Lab102 - Hardware Startup Asset Concept
« Reply #13 on: January 07, 2015, 01:27:59 am »

Quote
From the investors point of view, its a great idea, crowdfund and use the money to pay yourself. From a crowdfunders point of view, I would not give you any money if I thought it was only going straight to the previous investors. instead I would become an investor so I could get some crowdfunder money handed to me.
Is it just me thinking this?

Maybe its the way you wrote it?
Using the crowdfunding as a form of promotion and to sell a sufficiently large volume of kits (to be able to negotiate with suppliers) is fine with me, everyone benefits in that scenario. The money goes to the right places the crowdfunder agreed a price, any surplus (because of larger demand than expected better margins etc) is reinvested goes to investors as dividend.

By the way NXTWEB run a crowdfunding site see: https://nxtforum.org/index.php?topic=6175.msg126434#msg126434 which you could use to give the Crypto community access but not as a substitute for mainstream sites with a different audience.

The way that you describe it in your second paragraph make more sense. If someone else doesn't have any better ideas or more concerns we will change this part in our announcement.  NXTWEB seems a useful source. Because we want to involve the crypto community multi-crowdfunding could be a possible solution.
« Last Edit: January 07, 2015, 01:33:09 am by project-roodi »
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Vyazhan

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Re: [ANN] Lab102 - Hardware Startup Asset Concept
« Reply #14 on: February 04, 2015, 09:18:18 am »

Sounds cool,

so what exactly can Roodi do? Is he like Lego Mindstorms or more programmed to carry out specific tasks?

Good luck with the project!
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lopalcar

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Re: [ANN] Lab102 - Hardware Startup Asset Concept
« Reply #15 on: February 04, 2015, 10:39:09 am »


Why will your target audience buy your kit and not someone else's?
Nice question! We are not just two electronics engineers try to make a robot. We have a product designer and a digital designer in our team. The guys that are responsible to make something look beautiful! :)  We want to add 1-2 features that are cool and attract people's attention. For example could be extra sensors, a mobile app etc. We brainstorming at the moment. The issue of shares will not start until we provide all the features of our project. So please stay tuned.


How about make every raspberry pi a nxt node and make it work with this https://nxtforum.org/nxt-projects/helix-dapps-test-cp-repos ?
That will be a new feature no one else have and would allow you to have a cool IoT device and very secure :P
For example, when you receive a nxt donation, the robot dance, or much more sophisticated things like execute new code when requiered "if robot falls, you can choose the exact movements to execute in order to wake it up via nxt AM"

Anyways, good luck with this, I will keep an eye on it
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cryptard

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Re: [ANN] Lab102 - Hardware Startup Asset Concept
« Reply #16 on: February 05, 2015, 03:34:58 pm »

no offense but sorta sound like bullcrap init?
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j.jaymes

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Re: [ANN] Lab102 - Hardware Startup Asset Concept
« Reply #17 on: February 05, 2015, 03:41:26 pm »

Intresting. How did you do at conference?

LucasSmith

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Re: [ANN] Lab102 - Hardware Startup Asset Concept
« Reply #18 on: July 16, 2016, 05:37:31 am »

The project seems very interesting. @project-roodi, you said you have used 3d printing for producing many parts. Can you please exaggerate the procedure. I mean can you tell me for which parts production have you used 3d printing? I am asking you this since my younger brother also wants to create such kind of project. He has also searches a link called atlanticprecision.com which can help him in the 3d printing for his project.
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Joseph123

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Re: [ANN] Lab102 - Hardware Startup Asset Concept
« Reply #19 on: July 24, 2016, 01:39:10 pm »

Interesting concept I can buy some of this, but PM me with summary please, i am too lazy to read all that text
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