How a startup can thrive in the market?
Startups come up with new designs and inventions. However, qualifying them as a viable product in a short period of time and preparing them for production and commercialization has many challenges.
Some of the challenges could be:
- Design finalization and approvals as per industrial standards
- Prioritizing consumer experience
- Overcoming expensive physical validations
- Achieving the first-mover advantage
- Getting stabilized in the market while competing with big players
The above challenges can be addressed by a few ways. They are explained below:
- Startups get lot of support from the government for developing Electric Vehicles, Drones and UAVs. They should approach the right people, utilize, validate and adopt the right digital solutions at the right time to address the market demands.
- Adopting cloud technology is one solution which gives flexibility to the stakeholders to connect from wherever they are.
- Adopting model-based design solutions where design, engineering, manufacturing, marketing, purchase and finance are on the same platform which will reduce the time-to-market by eliminating all non-value-added tasks.
- From market study, concept design digital definition, digital Validation, process planning, product development to customer experience, it is difficult to adopt different applications by a startup and deliver the product to the market on time. To simplify and expedite the process, Industry Solutions Experience and Industry Process Experience can be opted as per startup requirements which are available in 3DEXPERIENCE platform. With this combination, design, engineering, manufacturing, governance and marketing solutions are available on a single platform with cloud environment
Industry Solutions Experience and Industry Process Experience are beneficial to startups. They are explained below by taking the examples of EV and Aero-related startups:
- There are few of the Industry Process Experience as a package like ELECTRO MOBILITY ACCELERATOR for the EV startups. The complete workflow is given below:
- Over 50 percent of programs in Aero-related startups (UAVs, drones) miss their deadlines. Programs are often delayed due to issues being discovered during the manufacturing process that could have been prevented in the design phase. To significantly increase competitive advantage, startups can opt for Co-Design to Target solution under Mechatronics Systems Engineering or Component Functional Generative Design for Additive Manufacturing.
Mr. Lakshmi Narayana started his career as Design Engineer. He has more than 12 years of experience in design, manufacturing, solution consulting and technical support in CAD/CAM domain. He is currently working at EDS Technologies as Senior Solution Consultant PLM CoE with a good exposure to design and manufacturing (machining) projects especially in Automotive domain. He has certification from Dassault Systèmes.