Tech founders should embrace market needs

When I left Los Alamos National Laboratory to start a company 11 years ago, I felt that my team was ready. We developed a new class of quantum dots-Nanoscale particles of publishing semiconductor materials that can be used in displays, solar cells and more. Our technology was safe, more stable and less expensive than the current quantum-dot content. Technical benefits were real, but I quickly learned that no scientific ability guarantees the success of the market.

For many tech-startup founders, this is an uncomfortable but necessary feeling. You can build an elegant solution, but if it does not solve a meaningful problem in the market, it will not go commercially anywhere. Before that you embrace that lesson, your chances of success are equally better.

Your invention is not a business

My background is in research. I have Ph.D. In material science Illinois University-Ubana-ShampainAnd i did a postdock Los almosIn New Mexico, the Chemistry is working on nanomaterials in the division. My focus was always on scientific knowledge, publishing papers and in some cases to file a patent. Like many researchers, I eventually tired of chasing quotes and wanted to apply that work to the real world.

So i started UbikadWe had a material that solved the technological shortcomings of traditional quantum dots, which require toxic heavy metals such as cadmium or lead and includes expensive manufacturing processes. However, when we first introduced it in the market, the conversation we had, she was opening eyes. People did not care about the material for their own. He cared about whether it has solved their problem, and the severity of the problem has defined their urgency.

My advice: If you can not clearly explain how your technology makes someone’s life easier, safe, more durable or more profitable, then you are not ready to sell it.

“Throwing it on the fence” doesn’t work

Our early thinking was extremely simple: better quantum dots, sclers make produce, and apply technology to customers that benefit from the ability to manipulate quantum dots in light. We felt, if we make it, customers would come.

To speed up things, we offered research-grade samples for testing. Many early adopters asked for samples, but that “throw it on the fence” approach usually does not work with a novel enabled technology. Whether it is advanced material, hardware, or software, you cannot expect customers to find out what the solution works best; That is your job.

So before scaling your technique, spend time with potential customers. Listen to more than what you talk and identify their actual pain points. Ask them what keeps them at night. This is where the real opportunities lie: in the possibility of providing a pain reliever instead of a good-to-theic vitamin.

Give shelter of ideas that are not fit

One of the most difficult texts should learn how to learn how to learn a dear idea when a dear idea does not align with market needs.

Take solar windows for the greenhouse, one of the ideas we thought would be a hit, but then shelved. Greenhouses spend a lot on electricity, so it seemed logical that they wanted to generate electricity directly in the masks of the greenhouse. However, the producers told us that their biggest concern was crop product, not operational costs. Light-absorbing windows can potentially cause slight decrease in yield, and any such deficiency will also hurt their lower line with energy savings.

This is where the real opportunities lie: in the possibility of providing a pain reliever instead of a good-to-theic vitamin.

So we stopped the idea of ​​the solar-window in 2018 and focus on a simple, high-affected product instead: greenhouse movies that transfer the color of light to help plants grow faster. The producers cared for the yield, and this is what we addressed using our technology. This agricultural application is now one of the main focus areas of Ubiqud.

Emotionally connect with an application or use the case. If your company is made on a platform technology, stay flexible. The market will tell you where your technology fits – and where it is not.

Competition means you are on the right path

Many founders frightened the competition. I see it differently. When we entered the agricultural place, we saw other startups and some big companies searching for similar ideas. It was not discouraged. It was valid. If no one else is working on the problem, it may not be a meaningful opportunity.

Some startups also try to stay under the radar to gain an edge. But if a potential partner or early customers do not know that you are working on a problem, they cannot increase, challenge or help your solution. He said, discrimination matters. Our edge comes from years of strong intellectual property, technical depth and hard work data. We have a lot of help and input from outside the company, and some of our best customers found us first.

Expect competition and hug, and do not be ashamed of it. Just make sure that you have a rescue benefit – whether through technology, partnership, data or expertise.

Earn the right to expand

As you begin to succeed in a market, you will be wooed to expand quickly to others. But be cautious about moving forward very quickly. We have rejected a lot of temptation opportunities in the last few years as we had not yet acquired the right to go after them.

For example, it is exciting to apply our materials to cosmetics or paints, but it did not financially understand until we achieved adequate production scale and cost reduction. Now that we have reduced the cost and built a better infrastructure, they are on the market back, but we understood it only after Study of potential customers and their needs.

Create the scale and generate revenue in your first market, and only then find out the impending opportunities.

Advice i would have heard that I would have heard before

If I can give my little myself a piece of advice, it will be: first the problem falls in love, then the solution.

As the founder of a tech-company, I spent years spent in completing my technology and publishing papers that the science of solution is so great. However, building a company, also understanding the economics of solving its customers and their problems.

Science and engineering are important, but therefore customers are searching, product management and market research. Those skills are essential, and you probably need them more than you think.

So get out of the lab. Talk to potential customers as soon as possible. As you hear, be ready to be favorable. And remember, the value of your technique comes from the problem that solves it.