Why Do So Many Robotics Companies Fail?

The robotics industry has seen high failure rates despite rapid growth and innovation. Based on my experiences and recent analyses, there are several key reasons behind the high failure rate of robotics startups, which can be grouped into a number of themes.

Specifically, robotics ventures frequently fail due to insufficient business acumen among technical founders, misjudging timing and value in an evolving market, subpar user experience that hinders adoption, misalignment with investors on goals and timelines, and attempting to solve diffuse or hypothetical problems rather than clearly defined customer needs.

During the product development cycle, strategic partnerships with potential customers can help you test concepts in real-world environments early. This provides invaluable feedback to improve both technical and business aspects before launch. Partnerships with systems integrators also help overcome integration and implementation hurdles, while partnerships with financiers and banks can help build innovative pricing models, such as opex versus capex pricing.

One domain of robotics called"cobotics" aims to have humans in the loop with robots, with the objective that the robot will help improve human productivity rather than replace them.

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