Introduction
It should be well understood that people do not buy products or services, they buy solutions to their problems. So you must first have a clear understanding of the problem you want to solve. Only then you can aim to solve that problem with a great product or service.
Once you know the problem, you need to determine how to solve it. The solution to a problem might be straightforward, or it might not. For example a straightforward solution is when engineers are confident there is at least one obvious approach. However a non straightforward solution is when engineers are confident there isn't any obvious approaches, and instead its likely there will be several attempts to solve the problem via trialing and testing. Non straightforward solutions also might involve scientific methods using existing and non existing research science.
The relative total project cost/timeline difference between straightforward projects and non straightforward projects, is significant. Simply because one does know how many attempts to solve the problem are required. Each attempt might be completely different strategies. Once at least one approach is found to work, engineers are back addressing one obvious approach.
It should be also well understood that while engineers might have at least one obvious approach to solving a problem. Engineers are still innovating and integrating with 3rd party technologies to develop a novel product for a target application. So your still doing something that hasn't been done before, which will still require trial and testing before commiting to production - this means the approach might require rework, bug fixes, and overcoming setbacks, along with unexpected or unforeseen challenges. It is for these reasons, new product development always has high uncertainty, high risk and is considered R&D.
To put it all in a different way. R&D can be frustrating - setbacks can occur and Murphy's law is common. Estimating is hard - Hofstadter's law is common. Some things can be affected by the Pareto Principle - in terms of R&D, the last 20% of the project may take 80% of the time. There is much support out there for startups. The development phase and initial sales is well known to be called the Valley of Death. We'd suggest reaching out to some innovation support spaces to share stories which maybe able to help with the stress. We believe there is much merit in Thomas J. Watson quote - "If you want to succeed, double your failure rate" and Thomas Jefferson quote "With great risk often comes great reward".
The next section outlines possible phases for a straightforward projects. For non straightforward projects, the path forward is fuzzy. So the first step is to proceed with bite-sized reviews. This allows assessment of the problems/solutions against existing technologies to propose the most feasible approaches for trial and testing. Then propose ideal methods to do the trialing and testing, such as mathematical calculations, computer modeling, computer simulations and/or real-world scale modeling via rapid prototyping methods.
Project Phases
Once you have a idea for a product. Have confirmed there is a market for your product. Then you are ready to start the review, planning, designing and prototyping of a new product idea. This involves the following phases:
- Project Review - In general, the aim of this phase is to define "what" the product should do (i.e. application and objectives). The is done via closely coupled discussions with the customer to understand the application and objectives to define the goal (e.g. targeting production, targeting demo unit to get more funding/feedback) and possible concepts. Once the goal is known and a concept is selected, we can start the planning process. In some cases, the client might already have a concept in mind - in that case, this process will review/refine the concept.
- Planning - In general, the aim of this phase is to define "how" the objectives might be achieved. And what the unit cost might be - allowing a "go" or "no go" decision based on target unit cost and target volume objectives. The scope of work might be:
- Provide rough draft illustrations of how the product (and/or components) will look and perhaps work.
- Rough idea of Bill of Materials (BOM).
- Rough idea of the unit cost.
- High level design.
- Proposed development path.
- Time & Material Estimations (if required)
- Design - In general, the aim of this phase is to produce computer based designs with a strong focus on reducing unit cost. It is not uncommon the design/prototype might evolve, so initially we focus on optimising the design for prototyping (instead of production). We expect lower development costs this way. The scope of work typically involves producing designs optimised for prototyping, and getting a better feel of the unit cost, bill of materials, and unforeseen challenges.
- Prototyping - In general, the aim of this phase is to produce a prototype, that best fits the project concept. Depending on the project plan, we may need to first make a non working prototype, before we can move to a working prototype. At the end of the day, a working prototype is the goal, so that it can be reviewed by end users (i.e. client and potential customers) to gather feedback to improve the form and function. The scope of work for this phase is to produce a prototype that best fits the plan and project concept. Then pass to the client for end user feedback/testing. It is not uncommon more then one prototype revision is required. And it's typically recommanded to use a small set of prototypes for field-testing with end-users.
- Production - In general, the aim of this phase is to produce large volumes suitable for resale. The scope of work typically involves optimising the designs for production, typically via processing Design For Manufacture (DFM) reports from the target production firm. Then gathering quotes from production firms, for our client to order direct, or we order on behalf. For multi-part products, we typically advise on a "big brother build" approach, so no single production firm has all the designs.
- Promotion - In general, the aim of this phase is to produce promotion material for product marketing and sales. The scope of work may include: product logo, product image renders, packaging material, flyers, brochures, promo videos for youtube and/or TV.
For some projects, is it hard to know if the product idea can even be achieved in engineer terms (i.e. technically feasible), or in cost terms (i.e. financially feasible). Or perhaps one needs to determine the possible size of the market. If we believe this is the case, we might advise that two additional phases might be required after/during/before phase 1:
- Feasibility Study - This phase will involve proving (or disproving) on paper, and/or in a computer model, if a product is technically feasible, and/or is financially feasible - for some projects to determine if it is financially feasible may require completing the project review. For more information see wikipedia about "Feasibility study" and "Phase-gate model Feasibility Review".
- Proof Of Concept (POC) Development - If the product was proven to technically work on paper or in a computer model during the feasibility study, then a Proof Of Concept maybe required to prove the product (or the questionable parts of the product) truly do work in the real-world. A POC might also be created first to demo to end users to gather feedback. For more information see wikipedia about "POC".
For more information on new product development (NPD) see wikipedia about "NPD".
How can I fund the cost for New Product Development?
We appreciate the cost of development is a significant burden. It is important to not worry too much about the development costs - it is a one-time cost (i.e. fixed cost as opposed to marginal cost). As long as you have a good product to drive sales, the fixed development cost just moves your break-even point. We would advise that you focus on reducing your marginal costs (e.g. unit cost), as that directly affects your profit.
It is well understood that New Product Development (NPD) always has uncertainty and is considered R&D. The total cost is driven by the evolution of end user (i.e. client and potential customers) testing and feedback. It is for these reasons, we appreciate the actual total project development cost is unknown. So depending on the size of the project and/or its life cycle, further funding might be required, before, during or after any of the project life-cycle steps.
Funding the development cost of a product is known as Seed money, and can be raised in various ways.
Self-funding is the best option, but if you require external funding, here are some options:
Government Grants
- R&D Tax Incentive
- Queensland grant for innovation
- Ignite Ideas Fund
- Accelerating Commercialisation (once you have a working prototype)
- business.gov.au Grants and programs
- GrantGuru
- Australian Government Grants
Seed Funding Companies
Equity Share
This funding option seems to be the most popular for new inventors.
Basically you could do a strategy like this:
- Self-fund the initial prototype (and/or product visualisation).
- Demo the initial prototype (and/or product visualisation) to an investor in the same industry as your target audience.
- Make a deal with the investor to:
- Reimburse you for all previous development costs.
- Get mentoring advise - they have years of experience with marketing, sales and contacts to get your product out there and selling like hot cakes.
- Go 50-50, or something like that, on equity share.
This way someone else pays for all the development costs, and you get a business mentor (and all their contacts).
Types of Investors:
- Angel Investors - generally invest before the working prototype stage
- Venture Capitalist - generally invest after the working prototype stage
Crowd Funding
You could use the prototypes, plus a promotional video on crowd funding platforms such as http://kickstarter.com
Additional info
Generally if you can not self-fund your project, you will need to draw up a business plan and use concept design material (e.g. life-like product visualisation as photos or 3D animations). Or a early prototype to explain and demostrate the purpose of your product. If this is the case, please let us know as we can provide you with life-like concept design material, or an early prototype.
To help with grant applications, business plan, etc - we'd suggest contacting the Gold Coast Innovation Hub.
Here are a few great links to further information about raising funds for your product:
- Chiefentrepreneur.qld.gov.au - Office of the Queensland Chief Entrepreneur
- Forbes.com - 4 Tips To Raising Seed Stage Capital For Your Startup
- Entrepreneur.com - 12 Tips for Finding Seed Funding, Starting With a Close Look at Your Pocket
Why choose us?
Our team is comprised of a small group of very talented unique individuals, including robotics engineers and PhD scientists. Each have been passionately learning and developing their technical arts since childhood. Together we bring a wealth of experience and cross-pollination of skills. This allows us to provide you with the most ideal solution for your needs.
It is also important to understand that having a skilled team like us, will not mean your project is going to cost more then a company that does not have robotics and PhD scientists. In fact, because we have these skills on the team, your project can be completed cheaper and quicker then companies without such skills (e.g. companies that specialise in just mechanics, or electronics, or software, or concept artistic design). Furthermore, having our team on your project, means the design can be optimised for minimum viable product (MVP) - which is important for maximizing return on investment.
For more information, please see our about us page.
Chief Methodology
Great products evolve through user testing and feedback from bench/field testing. Because of this, it is very common that the end/final product is very different then the initial concept/plan/prototype.
From our experience, th- best approach for NPD is agile-like methods. That is: one tries to get an initial prototype very fast and then show it to the end users, to get feedback and improve. The user testing and feedback and improvement cycle should be short to minimise risk. This also means NPD projects should not try to solve all the problems at once, as this increases the development risk/cost/timeline.
It is for these reasons, the following terms best fit this type of work:
- We work under a time and materials (T&M) agreement (i.e. hourly rate + materials).
- We work on a best-efforts basis (i.e. no guarantees).
- We aim to work under approved billable hours.
- We charge in 15 minute increments.
- Pay-as-you-go via weekly invoices (which includes our timesheet and materials). And/or advance payment deposits.
- All invoices are strictly 7 day terms.
How do I proceed?
To proceed, please contact us to advise us of your project brief, concept and/or list of objectives, so that we can start the project review phase.
Our Clients
New Product Development and Product Design for Data Recovery And Backup – Amazing Customer Testimonials
Intuitive, innovative & efficient are three words that would appropriately describe the COLETEK service. Luke and the team at COLETEK have taken our concepts to the next level.
In the development of our new product Smart Syphon we had a tight deadline to launch the commercial version of our product and experienced some issues with our drawings. Luke and his team dealt with the issues, worked through the week-end and delivered a quality outcome on time.
I used COLETEK for the design and prototyping of a new medical airway device I invented. They were enthusiastic, responsive to my input and I was very satisfied with the product they gave me. I can strongly recommend their services.
Our company has been working with COLETEK and Luke Cole for several years. Luke is very intelligent in many areas and has provided us with excellent designs and service. With the addition of a marketing section to provide brochures, packaging, etc. COLETEK is a one-stop shop. Based on our experience, we would highly recommend Luke and his company.
Working with COLETEK has been a pleasure. All parts we received are good quality and made exactly to our drawings, turnaround times were quick and never later than stated. Overall a great supplier and would recommend to any others interested in 3D Printing. Thank you!
Thank you for the fast and efficient service you have provided us over the years for 3D printing prototypes of specialised containers we are developing to manufacture. The 3D printing has been beneficial in perfecting and obtaining the perfect containers to suit the purpose and our needs.
We met with Luke Cole from COLETEK and very quickly realised that he was very knowledgeable in robotics and prototyping. What separates his company from the rest, is that he had a unique value proposition - COLETEK offers a tele-operated / robotic unit for rent and with the flexibility to be modified to build proof-of-concepts. That unit lowered both the cost and time for us to produce a video showing a very challenging concept. In general COLETEK's service was great value. We would recommend them - they will get it done.
COLETEK have provided one to one communication throughout the development process and gone above and beyond in bringing our ideas closer to becoming a reality! Luke's expertise and knowledge with computer software and electronics is Jedi like, but what I liked most about working with him was his willingness and ability to think outside of the box.
Thank you for your recent help with my enquiry. I have been able to proceed with my project which was proving very difficult before I was fortunate enough to make your acquaintance. The help you have given me and the contacts I have made with your support has been invaluable. Thank you so much and I look forward to a long and fruitful association.
I would like to thankyou for your time and development knowledge for assisting me in designing a new helmet for the Fire Fighting Sector. I apologise that I came to you with not much information to work with but I must admit I was very impressed with what design you came up with from your CAD drawings to achieve the final outcome. That new design is in the hands of our manufacturer over in Europe and we are hopeful that we will be able to release a new futuristic finished product for the next fire season. I would not hesitate to recommend your services to other customers who were looking to design new products.
Luke has a very broad depth of knowledge across many engineering disciplines and has a large project base to draw experience from. I engaged COLETEK for assistance in some early electro-mechanical design for a hoisting system. They've been a great resource for helping develop ideas.
We had the pleasure of doing business with COLETEK who provided us with service work. Their level of service and the quality of their work is exceptional. They communicated with us through the entire process to let us know when the work would be completed. We are very happy to have worked with them.
I have had the pleasure of working with Luke, our exceptional robotic product developer, over the past few years. Luke's expertise and professionalism have been pivotal in advancing our projects. Their innovative approach, attention to detail, and commitment to excellence have consistently exceeded our expectations. The quality of work and dedication Luke brings to each level of our project has significantly contributed to our success. I highly recommend COLETEK for their outstanding skills and unwavering professionalism.
Great delivery, and great relationship orientated services.
We had the opportunity to work with Coletek on the re-work of some complex SMD PCB assemblies during 2019. The work was carried out to a very high standard and we were extremely pleased with the outcome. We would not hesitate to recommend COLETEK for any type of complex technology work requiring high accuracy and professionalism.
We worked with Luke from COLETEK to develop a prototype for a new venture. Luke was able to give us practical advice on how to execute the project inline with our budget that was super useful. What has been endearing, is that even after the build was complete, Luke continues to touch base with us offering help to keep the momentum of the project going forward.
COLETEK has assisted on a variety of last-minute 3d printing overflow tasks for various projects. I've always found them to be very responsive to my needs and turned around urgent work in shortest possible time frame. I wouldn't hesitate to use or recommend COLETEK for any future design and/or 3d printing requirements.
COLETEK have been absolutely fantastic in their support and manufacture of various components for us. Our designs are always bespoke, intricate and low volume and it’s great to have an Australian company like COLETEK as a trusted and quality manufacturer for our spacecraft mechanical components and assemblies – which have been flight proven through successful mission operations. Keep up the great work!
Our first foray into the world of 3D printing brought us to COLETEK. We consider ourselves fortunate to have made this connection. COLETEK were accessible and easy to communicate with. They provided clear feedback and advice regarding the printing process, 3D file formats, resolution options and the likely time and costs involved. They provided prompt, invaluable service at a critical stage of product development, demonstrating a real understanding of our particular needs. The costs of services were totally appropriate and represented real added value to our final product. Thank you Luke and the team, we look forward to further opportunities to engage COLETEK.
I was grateful to find Luke Cole at COLETEK in the early days of an invention idea. He was very patient and generous with information to guide me along the way. And even though I did not preceed with my project, I would still recommend his services. Thank you.
Skykraft is a Canberra based company designing and developing spacecraft for the delivery of global space-based services. Luke and the team have been very responsive with quotes and delivery of machined parts for our company. Looking forward to working with COLETEK on our space programmes.
I had a technical design and prototype job I needed done and had contacted two companies in Brisbane before I discovered COLETEK. From my first conversation with Luke, I knew that he was the best person for the job and he delivered under budget and within the required timeframe. The device he manufactured for my company will save us thousands of dollars and it is highly likely that we will on-sell the device to similar organisations. I recommend COLETEK for any design and prototype work you can imagine for your business.
Salita engaged Luke Cole to troubleshoot issues we were having with a drive motor system with a dynamic variance of torque and speed. After approaching no less than a dozen Australian supplier and engineering firms to provide a solution, and after 12 months of product design and testing, they could not verify why their recommended motors where failing and reversing suddenly. Luke undertook testing and analysis and quickly supplied information on the failures. Not only did Luke uncover a rare, uncommon failure but also provided a solution. The COLETEK team are our go to for the correct solution the first time, for all our electronic needs.
I engaged COLETEK several years ago to produce designs and working prototypes of 2 products I am currently developing as I was having difficulty obtaining what I required from overseas design companies. I have always found Luke easy to work with and having face to face meetings made explaining my concepts so much easier than endless emails. Design changes and modifications are always produced in a timely fashion and available for pickup locally.
We engaged COLETEK to conduct a series of research projects on robotics and we very pleased with their technical skill, creative thinking and hard work. If you need to prototype a complex technical idea, they are a great partner to work with.
As the proprietor a DIY environmentally pest control products business I have been more then impressed with COLETEK's design capability and professionalism in assisting to realise an idea into reality. From concept, CAD drawings, 3D modelling, alterations right through to the finished product. I am extremely happy with our new termite control product. I have no hesitation in recommending COLETEK's services.
Luke from COLETEK has assisted us on a number of occasions and has always been helpful, courteous and understanding of our needs. There was an instance when timing was of the essence and Luke was able to prioritise our job to ensure we weren't affecting our customers in a negative way. He is highly recommended.
COLETEK proved to be the perfect choice to help us kick our project off. Their analysis of the problem we presented with them with, and their suggestions for the most efficient and effective way to achieve a solution prevented us wasting time and money heading down the wrong path. I'd recommend COLETEK without any reservations.
I have been working closely with COLETEK for the past 6 years now, and I must say, it is a success story :-). I highly respect their team, they are a pleasure to work with and top skilled professionals. In addition to their top Technical service, their customer service is brilliant and it is a rare find. Their PCB repair rework skills are top notch and a rare find in this industry. I have been working in the IT industry for the past 20 years in various fields and seen it all so I can say with certainty that they are the best around and I am looking forward to keep working with them in the future.
Luke and the team do a amazing job. Extremly happy from start to finish
I would thoroughly recommend COLETEK they provided me with excellent feedback and engineering knowledge with regards to our idea. They also have continued to help us with what direction we should take and introduced us to other professionals that have also guided us. I suggest anyone who has been thinking of something they would like to pursue should contact them to get the most realistic approach of making it successful.
After approaching COLETEK with a few sketches of a plumbing tool I had in mind Luke and I immediately bounced a few ideas around. Leaving things with Luke he quickly produced some 3D images and ideas we subsequently used. Before long COLETEK produced an operational 3D printed prototype of the tool. I was then able to use this prototype to seek funding for further research and development.
I'm in the early stages of my prototype design. I have worked with Luke for a couple of years now and in that time I have found Luke to be very reliable, responsible with my design, honest and trustworthy. What stood out the most was Luke's pride and commitment that he undertakes to ensure a positive outcome. I consider it a privilege to call Luke an associate and have no hesitation in encouraging others to do the same.
We have used COLETEK on a couple of occasions and found their service to be professional and on time. We specialise in engineering and design of height safety equipment and since a lot of parts are made by casting from stainless steel we require a quick model before we proceed with the tool manufacture. COLETEK has been able to provide this quickly saving us valuable time and giving us peace of mind knowing our parts will look right when casted from stainless steel.
We had an idea that needed very complex design and prototype requirements. After much frustration dealing with other prototyping companies both in Australia and overseas we came across Coletek and have not looked back. Luke has been extremely helpful to date and we are now on the road to developing the product we had envisioned. Luke has been more than capable of taking multiple and constantly changing design facets in his stride and has ultimately given us a clear path to a successful product.
I consulted COLETEK for some work, commencing in 2014, and haven’t looked back. The project was very important to me, and COLETEK not only saw that but exuded sincere enthusiasm about the project; they are attentive, and thorough in their research and development service. They are a wealth of information and advice, for many aspects of the entire engineering and commercialization space, and this has been invaluable to me. I look forward to continuing work with them long into the future!
We've worked with Luke and the team on and off for the past two years. We've found them very accessible and extremely thorough in their dealings. Their documentation is second to none and we’d have no hesitation recommending them on this basis alone.
Our dealings with COLETEK were pleasant and professional. Luke was kind and courteous and very easy to talk to. High quality design concepts were emailed through with regularity so that we always knew exactly what was going on. I would recommend supporting hard workers and local Australia business by working with COLETEK
I have outsourced many projects through COLETEK over the years for a variety of applications. Applications such as a online based software platform that pulls live data feeds and updates in real-time to the user. A custom built website for adding users and products that achieved over 20,000 listings. Mobile applications. Data recovery and hardware repair. Custom SEO services and secure hosting services. I choose COLETEK because I know that a job will get done as requested and within a reasonable time frame. Also I'm a stickler for security and they're the best.
We used COLETEK on a small project involving mechanical and electronic design aspects as well as software development. COLETEK understood our requirements at the outset and worked to accommodate our needs. The whole process was professionally conducted and we highly recommend COLETEK
Great prototype product made to our specs with minimal fuss. Delivered on time and within budget. Thanks team.
Excellent service quick response and great results and reliability.
Delivered excellence on time, great work and great team, thanks!
Multistore Industries was in the process of developing new product for a client and needed a 3D handle printed before we went into the expense of mass production. I meet with Luke several times and he assisted with the drawings and then printed the handle. The handle was then presented to our client within 1 week and approved by the client. Thank you to Luke and his team for making this process so easy and for a client who couldn’t visualise the finished product Coletek was the perfect solution. Our company will not hesitate to use COLETEK for further projects.
From an idea in my head to making sales nationwide and now worldwide. COLETEK were there every step of the way. The product was my first development so I had no idea really. With COLETEK offering privacy agreements and steering me in the right direction, it gave me confidence instantly. One thing that may seem irrelevant they questioned me about what it was I was trying to achieve and if in fact if it's even viable? That for me showed COLETEK wasn't in it just for my money. After some meetings and a couple of CAD drawings we had our first working prototype. COLETEK's knowledge and experience definitely made this whole process a lot easier. From CAD drawings, prototypes, liaising with suppliers in Australia and overseas - COLETEK done the lot. I'd highly recommend COLETEK!
I can say that I've only dealt once with Luke Cole at COLETEK and I found him to be very professional and helpful with his assessment of my device. His expertise and suggestions with regards to my invention was great, despite my pedestrian review of it and what I was hoping it could achieve. In the end his advice was paramount in my final decision as to whether I would move forward with the development of a prototype.
Founded in 2001, we are a multiple award winning, highly experienced multidisciplinary company specialising in lean product development through rapid prototyping - transforming ideas from concept to life. Our industry-leading team combines deep expertise, cutting-edge technology, and advanced equipment to validate emerging ideas—transforming them into market-ready hardware and software solutions.
Our experience dates back to the 1990s with ANU "Robotics Systems Lab", CSIRO, NICTA (aka Data61), Seeing Machines, Location Aware Technologies, and Hemisphere GPS (aka BEELINE). For over 10 years now, we've been focused on validating R&D and taking ideas to commercialisation.
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