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.
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 .*
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 .
*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.