Persistence is at the heart of every successful robotics startup, and a lot of pivoting. So the faster you can move from prototyping into customer development, market research and investor meetings, the more likely you are to find a good product/market fit.
There has been a lot of gossip and more serious discussion within the healthcare devices industry about patents, their use in marketing strategy, their hindering product development, and their true value as intellectual property (IP).
Our vision is that GRIP will serve as the central hub of the Upper Midwest robotics industry. The robotics industry offers a compelling regional economic development opportunity for the Upper Midwest.
There are now more connected devices in this world than dollars in the deficit. And the definition of success in business has changed from closed shops to standard modular construction and software that allows all sorts of players to add to the core products that are built.
Sometimes a company is founded because it stumbles upon a niche that it can fill better than any other company. Such a company is RE2 (Robotics Engineering Excellence). Founded by Jorgen Pedersen as a contract engineering house to fill a need for unmanned systems engineering expertise within Carnegie Mellon's National Robotics Engineering Center (NREC), RE2 now provides mobile manipulation systems for defense and safety.
If you believe that the robotics industry is ready for you to invest in, you wouldn't purchase either Boeing or John Deere -- they aren't representative of the industry and their stocks move to the beat of a different drummer than robotics. Instead, you would pick from a list of pure play robotic stocks (if such a list existed).
It will be worth your time to analyze each segment of your business and decide if automation is right for your business and if automation can produce more efficiency or profit.
Selling to the military is not easy, but if you are persistent and take one step at a time, asking questions along the way, military sales can add substantially to your bottom line.
Compass Automation has rapidly become an industry-leading provider of high resolution, in-line vision inspection systems. In the fall of 2011 Compass completed the project highlighted below for Mitchel & Scott Machine Company, providing an automated vision inspection and thread checker system. Compass was able to provide Mitchel & Scott with an outstanding product in an extremely tight timeline. This system exceeded the quoted performance, providing a repeatability of 2 microns, a reproducability of 4 microns, and passing a Gage R&R with a score of 7.4%.
Companies considering a new material handling system are often simultaneously evaluating warehouse management systems (WMS) or have already implemented a WMS. When considering an automated material handling solution such as the Kiva Mobile Robotic Fulfillment System, companies often ask how the systems will work together.
Willingness to invest in future yields big dividends with 76% return on investment in first year.
In early 2008 I asked my Merrill Lynch broker for a list of stocks of American robot manufacturers. He couldn't provide me with more than two. So I went online with Bloomberg and found a list of 120 companies involved with automation. When I researched them, there were only a few in the U.S. and fewer still where robotics was the principle business.
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