Arrow Electronics Brings Crowdfunded Technology to Life with Indiegogo
August 25 2016 - 9:35AM
Business Wire
“Arrow Certified” Indiegogo campaigns will
receive go-to-market support;
Eligible for a share of $1 million in flash
funding
Arrow Electronics, Inc. (NYSE:ARW), the global technology
company providing products and solutions that guide innovation
forward, and Indiegogo, the global platform for entrepreneurs to
bring their ideas from concept to market, today launched their
groundbreaking crowdfund-to-production service, which is aimed at
accelerating the pace of innovation for technology and internet of
things (IoT) entrepreneurs.
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20160825005647/en/
Arrow Electronics and Indiegogo today
launched their groundbreaking crowdfund-to-production service aimed
at accelerating the pace of innovation for technology
entrepreneurs. (Graphic: Business Wire)
Watch the “Arrow-Certified” on Indiegogo Video
Entrepreneurs can apply for Arrow certification on the Indiegogo
platform. Arrow Electronics’ engineers will then analyze the design
and manufacturability of each application. Projects deemed “ready
for manufacturing” will be denoted with official “Arrow
Certified” badges on their Indiegogo campaign site to let
potential backers know the project is ready for production.
Every “Arrow Certified” campaign on Indiegogo that meets
certain eligibility criteria can compete to receive a share of $1
million in flash-funding that Arrow will give away to 20-50
campaigns during the next 12 to 15 months (for full funding details
and rules, please visit
https://www.arrow.com/indiegogo/terms-and-conditions).
“Arrow Certified” campaigns on Indiegogo will also
lock-in up to $50,000 in benefits that help entrepreneurs succeed
in prototyping and manufacturing their innovative products, which
include some or all of the following:
- Direct, online access to the
prototyping tools available through Arrow.com and Silicon Expert,
one of the world’s largest and most comprehensive database for
technology component design
- Comprehensive technical reviews of the
raw materials, sub-assemblies, intermediate assemblies,
sub-components, parts and the quantities of each needed to
manufacture a product
- Professional design-for-manufacturing
product reviews and certification
- Up to $1,000 in materials for prototype
development
- Free access to the Arrow Testdrive™
program to try out the latest innovations from leading
semiconductor manufacturers with no up-front investment
- Customized marketing and promotional
support on Arrow.com and through Arrow’s extensive
technology-focused media network
- 10 percent off and free shipping on
millions of products available through Arrow.com that will help
accelerate prototyping and bringing innovations to market
In addition, a handful of “Arrow Certified” campaigns
that Arrow experts deem truly technologically exceptional will
qualify as “Arrow Innovator” campaigns and receive
additional support, which includes some or all of the
following:
- Supply chain services and contract
manufacturing support worth up to $500,000
- Up to $10,000 in materials for
prototype development
- A dedicated local Arrow technical
concierge available for on-call or on-site support
- Perk protection that guarantees
campaign backers will get their money back if for some reason the
product is never manufactured—providing current and future campaign
backers with increased confidence
- A fast-tracked review with Arrow’s
in-house financing team to help fund the cost of getting production
up and running
Arrow and Indiegogo formalized an alliance in May after
Indiegogo entrepreneurs had been increasingly turning to Arrow and
Arrow.com to help transition innovative ideas into successful
commercial products. Arrow is now a key component of Indiegogo’s
efforts to support the entire product lifecycle for entrepreneurs
on the platform.
Current and new Indiegogo technology or design campaign
entrepreneurs interested in applying to become “Arrow
Certified” should visit www.arrow.com/indiegogo.*
To celebrate the official launch of the groundbreaking the
Arrow-Indiegogo crowdfund-to-production service, Arrow is giving
away a free Raspberry Pi 3 single-board computer (approximate
retail value of $34.99) with every purchase of $100 or more on
Arrow.com today and tomorrow. Full offer details are available at
https://www.arrow.com/en/research-and-events/articles/raspberry-pi-promo-details.
Entrepreneur Testimonial:
Halo Smart Labs Co-Founder and CEO Ben Stagg:
“This groundbreaking crowdfund-to-production program will help so
many tech entrepreneurs and startups accelerate their path to
market and revenue. Halo Smart Labs didn’t have access to a formal
production program like this when we were successfully crowdfunded
on Indiegogo. However, we did have the good fortune of getting
introduced to Arrow experts early on who helped us refine designs,
source the right components, tackle first runs and scale to full
production. Without the crowdfunding support we received on
Indiegogo and without the go-to-market support we received from
Arrow, we wouldn’t be preparing for the first Halo and Halo+ smart
fire alarms to hit the shelves of major retailers this fall.”
Executive Quotes:
Arrow Chief Digital Officer Matt Anderson: “Arrow is
leading IoT design and production for many of the world’s largest
companies. We are broadening these capabilities to support the
rising wave of innovation coming from crowdfunding. The
comprehensive design, manufacturing and go-to-market support that
Arrow will provide Indiegogo campaigns will help IoT and technology
innovators succeed in even greater numbers, making Indiegogo the
only game in town when it comes to launching an IoT or technology
idea.”
Indiegogo CEO David Mandlebrot: “This collaboration
improves the experience for both entrepreneurs and backers on
Indiegogo. Supporting the entire lifecycle for technology
entrepreneurs—from idea, to funding, to manufacturing and
ultimately retail selling—is a priority for Indiegogo and this
collaboration with Arrow allows us to build on those efforts in an
incredibly impactful way. At the same time, this alliance will
enable backers to have greater confidence that they will ultimately
receive their perks.”
*The Arrow certification program on Indiegogo is open to
individuals 18 years and older and companies meeting certain
residence and other restrictions. Certification program period:
August 25, 2016 to December 31, 2017. Sponsor: Arrow Electronics,
Inc., 9201 E. Dry Creek Rd., Centennial, CO 80112. Details and
complete rules available at
https://www.arrow.com/indiegogo/terms-and-conditions.
About Arrow Electronics:
Arrow Electronics is a global provider of products, services and
solutions to industrial and commercial users of electronic
components and enterprise computing solutions. Arrow serves as a
supply channel partner for more than 100,000 original equipment
manufacturers, contract manufacturers and commercial customers
through a global network of more than 460 locations serving over 85
countries. Learn more at www.arrow.com and
www.fiveyearsout.com.
About Indiegogo:
Indiegogo is the place for entrepreneurial projects to move
quickly from concept to market, amplified by a community of backers
who believe the world benefits when every idea gets an equal shot
at success. Indiegogo empowers people to unite around the ideas
that matter to them and together make those ideas come to life. As
the world’s first crowdfunding platform, campaigns have launched
from almost every country around the world with millions of dollars
being distributed every week due to contributions made by the
Indiegogo community. The company was launched in 2008 and is
headquartered in San Francisco, with offices in Los Angeles and New
York. For more information, visit Indiegogo.com and follow us at
Twitter.com/indiegogo and Facebook.com/indiegogo.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20160825005647/en/
Arrow ElectronicsMediaMeghan Macdonald, 303-882-8610
(Americas)mmacdonald@arrow.comorThorsten Hecking, +49610250308638
(EMEA)thecking@arroweurope.comorGrace Kung, +852 2484 2682
(Asia-Pacific)grace.kung@arrowasia.comorIndiegogoJohn Eddy,
646-660-8648john@goldin.com
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