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b'Larry Richenstein has been in the hardware sales, development, and investment world for over 40 years.\\xa0He is an angel investor in the New York Angels network and is currently the CEO of WePower Technologies, his latest hardware venture.\\xa0Today Larry is going to share some valuable knowledge for inventors, startups, and small manufacturers on what angel investing is, what stages of development you need to get your product to in order to pitch to a professional angel investor, and how to do a good pitch once you are in the door.\\nToday you will hear us talk about:\\n\\nAn angel investor is usually an independent investor or a group of investors that invest in startup businesses.\\n\\nAngel investing are considers\\xa0\\n\\nAngel investment is the first round, then venture capital.\\n\\nWhen it comes to products, there is a lot more that goes into them from a product development standpoint.\\n\\nMeasure twice, cut once.\\n\\nYou have to have all the development\\n\\nPeople that have ideas, get no funding.\\n\\nPeople that come up with a rough prototype or a rough prototype, it\\u2019s interesting but generally still too early.\\n\\nWhat investors really want to see, is a working prototype.\\n\\nDe-risking the investment occurs the further you push the product down the road.\\n\\nFirst, find angels that invest in hardware.\\n\\nAngel investors for hardware are out there.\\n\\nCome in with a pitch that proves that you have a strong likelihood of success\\n\\nHardware and software are starting to come together.\\n\\nCrowdfunding is a powerful way to prove market validity.\\n\\nYou no longer have to build for the masses, you can build for niche industries.\\n\\nAvoid feature creep, especially for your first version.\\n\\nCrowdfunding is a way to avoid outside investors.\\n\\n\\nEPISODE LINKS:\\nLarry Richenstein Links:\\nLinkedIn | WePower Technologies\\n\\nThe Product Startup Podcast Links:\\nhttps://www.ProductStartup.com/\\nInstagram | LinkedIn | Facebook Page | Facebook Group | Pinterest | Twitter | YouTube\\n\\nMako Design Links:\\nhttps://www.makodesign.com/\\nYouTube | Instagram | LinkedIn | Facebook | Pinterest | Twitter\\n\\nKevin Mako Links:\\nInstagram | LinkedIn | Quora | Facebook | Twitter\\n\\nPartner: PTC\\u2019s best-in-class software solutions Onshape: The only cloud-native product development platform that delivers full-featured computer-aided design (CAD), integrated product data management (PDM) and enterprise analytics in a single system, and Creo: 3D CAD solution that provides designers with the most innovative tools to build better products faster, such as generative design, additive manufacturing, real-time simulation, IIoT, and augmented reality.\\n\\nProducer: MAKO Design + Invent is the original firm providing world-class consumer product development services tailored to startups, small manufacturers, and inventors. Simply put, we are the leading one-stop-shop for developing your physical product from idea to store shelves, all in a high-quality, cost-effective, and timely manner. We operate as one powerhouse 30-person product design team spread across 4 offices to serve you (Austin, Miami, San Francisco, & Toronto). We have full-stack in-house industrial design, mechanical engineering, electrical engineering, patent referral, prototyping, and manufacturing services. To assist our startup and inventor clients, in addition to above, we help with business strategy, product strategy, marketing, and sales/distribution for all consumer product categories.'