185: Building a Successful Hardware Startup Multiple Times

What this episode covers

Rich Walsh is the CEO of CorVent Medical, which is the eighth company Rich has helped build. Prior to CorVent, Rich was a part of many different companies building them from early phases right to exiting through either acquisition or going public. He has been in the space for over 25 years. Today Rich is going to share some valuable knowledge for inventors, startups, and small manufacturers on how rewarding building a hardware startup is, how to move fast to accomplish big goals much faster than big companies, and how to be a repeat serial hardware startup entrepreneur. Today you will hear us talk about: Hardware startups are leading the pack for innovation in 2023 The hardware world is extremely rewarding when done right. Startups are very nimble, they can develop far faster than a big company, even though big companies have so much more money. Company vision is key to bringing on many different stakeholders. Build a quality product and sales and financing will come. The culture of your startup and the stakeholders you work with will be important. The sooner you start, the better. Even young people can have multiple exits before they even hit mid-career. Rich Walsh Links: LinkedIn | CorVent Medical The Product Startup Podcast Links: https://www.ProductStartup.com/ Instagram | LinkedIn | Facebook Page | Facebook Group | Pinterest | Twitter | YouTube Mako Design Links: https://www.makodesign.com/ YouTube | Instagram | LinkedIn | Facebook | Pinterest | Twitter Kevin Mako Links: Instagram | LinkedIn | Quora | Facebook | Twitter Partner: PTC’s 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. Producer: 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.