A start-up business or company deals with many risks . With limited time , money and resources to make a product and deliver it with quality pose many challenges.
The complexity of development of products starts from idea to designing , prototyping, manufacturing and finally going into production. The product development cycle requires expertise in all fields and in-depth knowledge of many technologies. Smaller start-ups and product companies who do not possess in depth knowledge of the product design and development turns to other companies for their requirements. This helps the start-ups to focus on their strengths and utilize other companies strength to reduce the time to market and build a better product.
Product development broadly can be divided into following stages :
1) Design phase : Design Feasibility and Cost Analysis , regulatory requirements, analysis of reliability and availability
2) Prototype and Validation phase : PCB design, embedded software validation
3) Manufacturing phase
Each of these phase requires expensive tools and capital equipment expenditures which can be lowered significantly if these can be outsourced to the external custom electronic design team that has the required tools and experience. This will in turn reduce the operational cost of the start-u