Li Jianwei, Vice President of Sequoia Capital China Fund, a veteran investor, intelligent hardware since 13 14 started to invest in intelligent hardware, currently invested in the field NineBot, Segway, one table (TheOne) piano, Hua Mi bracelets and Makeblock, one regarded as "prolific" intelligent hardware investors.
Recently, he shares with us his investment in intelligent hardware logic, why should I vote for intelligent hardware? Most important quality entrepreneurs? What are most worthy of investment and intelligent hardware trends ... ... From the investor perspective gives us another perspective.
Principles of intelligent hardware
"13 started reading intelligent hardware, mainly feel market needs, we feel the next wave of opportunities in all things Internet and robots, and the interconnection of all things the first phase is some intelligence hardware, so the idea is to start from intelligent hardware.
When intelligent hardware, each investor has their own set of logic, I also have, but more attention to these areas below:
1. application scenarios
Is that it must be useful, and not a fake demand.
2. product highlight
Product is particularly prominent in the design, function better, success in your mouth, and then you can walk faster.
3. margin for the health
Some entrepreneurs stressed the "thinking of the Internet", not Maori, through large data back to realisation. However, we observed that the development of better and faster is to charge high prices or low product prices, margins are relatively healthy.
4. the pursuit of the network effect
Make sure the product ferment in the network. For example, GoPro, although it is not a wide range of marketing, but they encouraged users to share, will significantly reduce the cost.
5. the focus on first-mover advantage
Intelligent hardware products, in a class to the user preconceived impressions are important; a leader in a category as long as there is no serious error, advantage will last a long time.
6. "cloud intelligence"
Future trends are hardware/software, the software will play an increasingly important role. Dynamic update software and the cloud data, intelligent hardware products will bring very good ductility, which increase user stickiness, diversification of revenue model is very important. Such as Sequoia invest The ONE smart piano has a powerful music library in the cloud, and millet hand loop recording the health data of many users.
Finished product itself, people talk about the product itself, there is a particularly important, is the vision of the founders to broaden and better execution.
Although the company at an early stage is relatively small, but you have to have a clear judgement and planning in the future, which could go far if got closer did not say, the growth of the company is relatively small.
To cite an example, now many people are building new bikes, but what kind of business the company can turn it into a real market opportunity?
This depends heavily on the founders of the field of vision and ability to execute. His ideas for the future, their product and implementation capacity of the team, are related to this product last go. Hello Kitty cases
Likes to ask about investor pain points
"Say investors asking on the market pain points, to correct you here, in one" to "the market context, if the products are just hitting the user pain point, this likely to. But the big question now, is to do a product without a scenario you, do come out, users are not needed.
Wearable are a good example, there was a lot of people say it is false demand, viscosity of not more than 6 months. Fitbit meters and China did "on the premise of a market" to catch users pain points.
Like the Fitbit, before its IPO statement came out, many people feel that this product is a viscous little, including the vast majority of intelligent hardware before investors feel that it does not prejudice, but the IPO statement its earnings are very beautiful.
And meters in China, when we invest, the industry also has a lot of questions, think it sticky at 3 months, after which you will not wear. Test of investors ' judgment at this time.
Now we are glad to discover that its user activity is still very high, because it's product positioning with most of the products are not the same, it is a personal ID, after there are a lot of opportunities. Personal ID such as apply to the access control, to test your sleep (automatically turn down the air conditioning), these "pain points" is very practical.
And because joined has phone unlock, and paid of function, it of active degrees may is abroad products of 3, and 4 times times, so from this products I learn to has a experience, a products of application scene, and products of active degrees, and core index not stone of, sometimes a team found has this points, it of shipping volume on big not same has, like China meters, now on reached 400duowanzhi has. So from this point of view, both wearable and smart home or Internet, as long as it is a big category in every area (of the market), there are opportunities, entrepreneurial team and how to find the right point of the scenario. "
Intelligent hardware more optimistic about what the next 12 months?
"There is room for improvement in the present life opportunities are intelligent hardware products, I am more likely to vote can bring to life-altering product team into contact with so many entrepreneurs, in fact, many products all have a dream, is to make life better, and their team is doing, creative ideas can be found at many points.
Best related to their interests, before I vote to balance the car like it, Ninebot is a round last year joined; at that time the first smart hardware projects The ONE my daughter was just learning to play the piano, I personally like this be intelligent equipment and pianos combine this ancient instrument. " hello kitty cases for iPhone 6 plus
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