What the robotic technology of the future must have to be successful

Below are three of the greatest learnings that I have repeatedly seen from meeting hundreds of robotics companies in recent years.

These differentiate start-ups that have continued to raise additional capital and enter the market from those that have just created brilliant prototypes but never got off the ground.

First, meet a real world need

Perhaps the most essential ingredient for successful robotic technology is that it must meet a real need. Seems almost too clear, right?

However, we've seen hundreds of robotics inaugurations fail because they started with the technology and then tried to find a solution to a problem.

Successful startups are the ones that really know how to accomplish a certain task. They understand an industry and create a answer to a real world problem or an improvement to an existing process.

For example, a startup that is researching robotic mowing of large lawns must have at least one person with industrial scale lawn mowing experience. This type of domain-specific knowledge helps bridge the gap between technical development and real value. While they may be the biggest differentiator between success and failure, many startups overlook this practical knowledge.

You need a solid business model

The second key to achievement is that you need to start with a business model that makes sense and generates enough money to fund your growth. It might sound counterintuitive, but the robot isn't the most important part of your business. For example, if you build a great robot, but can't ship it around the world, it will limit your prospects.

Some companies try to sell a robot when leasing (Robot-as-a-Service) would be a better business model, or vice versa. Understanding the industry you are entering is essential to making your robot successful.

When you have an amazing robots that you don't know what to do with, you lose out to the right affordable robot backed by a solid business model.

Each. Single. Period.

Make your robots practical and accessible

The third element of success in robotics is the elimination of complexity. Nothing is truly level five autonomous, yet, and even when it does eventually, there will still be a need for human supervision and guidance. For your new technology to be successful, you need to make it work today.

If you are convinced of the idea of ​​perfect autonomy, your robot will not be ready for the market anytime soon. In fact, you can expect to spend another five to ten years working on it. Allowing a human being to work and collaborate with a robot to cover their weaknesses will allow them to come to market much sooner and more efficiently.

The basic idea is that the human must be able to take the robot, configure it, and manage the parts of a job the robot struggles with. During this time, the robot performs the tasks it is good at and brings value by outperforming a human in those areas. Rather than thinking that you want to automate all the work, make a goal of using robotics to help a human get the job done better, faster, and more efficiently than ever before.

We've seen companies track a monthly business metric of the percentage of tasks the robot can currently perform well enough in front of a human to guide its growth. If you repay the cost of the robot over its lifetime, several times if the robot can perform 30% of human tasks, it still saves a significant cost compared to a person.

The success of robotics of the future

Most robotics companies don't fail because of their technology.

In fact, your technology can be great. Though, they fail because the time and cost to bring your idea to market is measured in years, sometimes decades.

Your robots don't need to be unnecessarily complex, they just need to bring real value today and have a well-planned business model based on practical industry knowledge.

Of course, easier said than done. However, just having a solid understanding of these concepts puts you in a much better position than many of your competition.