Starting a business is an exciting challenge. In addition to the thrill of designing and engineering your product, there is great freedom in being your own boss, including flexible work hours. However, in reality many startups fail. Securing funding and attracting the right talent is hard. Employees today are very particular about the environment in which they are willing to work. In addition, designing an innovative product that is both visually appealing and functionally reliable takes considerable talent, time, and resources.
What’s more, the growing demand for smart and connected products, often with stricter standards and regulations, is changing the mechanical product design landscape in both industrial and consumer markets. Closer collaboration between mechanical and electrical engineers is key. For startups that means more complex testing, which often translates into more costs.
Savvy startups are increasingly integrating advanced simulation into their product development process, such as QARGOS®, an innovative transportation solutions startup that develops eco-friendly two-wheel electric vehicles and e-bikes. Co-founder Alok Das points out their product development process was underpinned by extensive simulation, thorough testing, and continuous engagement with potential customers.
“The addition of the 3DEXPERIENCE® Works solutions—particularly the MODSIM workflows—magnified our capabilities and elevated our development efforts. Because 3DEXPERIENCE Works Simulation solutions are fully integrated with SOLIDWORKS®, the transition between design and simulation is seamless, supporting the simulation-driven approach that helped us improve the design with every iteration.”
QARGAS Co-founder Alok Das
Traditionally only larger companies with deeper pockets could afford simulation tools. Startups ignored them because they were expensive and hard to use. However, easier-to-use modern simulation tools are bridging the resource gap. Cloud-based solutions offer startups affordable access to advanced simulation resources, so even the smallest companies can gain the edge they need to beat their competition to market with smartly designed high-quality products.
Here are five key benefits that simulation can bring to your startup’s success:
1. Access more funding
Running out of cash is a top reason startups fail. Investors need to see progress to continue their support. Simulation allows startups to demonstrate progress through virtual prototypes, showcasing how technical challenges are overcome and highlighting unique product features in full 3D renderings. This tangible evidence can significantly bolster investor confidence and help support subsequent funding.
2. Improve profitability
Profitability is a major challenge that only 40% of small businesses achieve. Pricing issues are a common hurdle. Simulation helps balance quality and affordability while solving complex engineering problems, such as determining the optimal materials for all parts in an assembly. Efficient handling of tough engineering issues typically has a positive impact on reducing costs and enhancing profitability.
3. Accelerate innovation
Successfully competing in the market requires rapid iteration. Simulation enables rapid testing of multiple scenarios without the delays associated with physical prototypes. This agility enables startups to quickly refine their products and bring superior designs to market faster than the competition.
4. Validate market need
Another top reason startups fail is a lack of market need. Simulation facilitates early and frequent engagement with potential customers via digital prototypes. This early feedback helps startups pivot quickly if necessary, ensuring their product meets market demands, thereby increasing the chance of success.
5. Leverage the right talent
Having the right team is crucial for startup success. Simulation in the cloud allows for easy collaboration with external experts via access through secure project links. This flexibility ensures that startups can access necessary expertise without long-term commitments. Additionally, cloud-based platforms enable remote work, which is highly desired among engineering talent; this ensures startups can hire the best candidates regardless of location.
Cloud-based simulation can help startups address the multifaceted challenges they face while improving their chances of success in a fast-paced, extremely competitive development environment.
Glasgow-based Myriad Wind Energy Systems is innovating next-generation high-performance wind energy solutions to mitigate some of the current challenges in the industry. The company’s ingenious wind turbine design captures more energy overall. Assessing different design concepts quickly helped Myriad Wind Energy test the most viable solutions. The company also used the built-in finite element analysis (FEA) capabilities in SOLIDWORKS to assess if designs were structurally sound.
“It was really quick to be able to run some simulations and get an idea of the structural integrity. That really helped us develop the concept further. From there you can build up the complexity, start reducing the material, and make more efficient [and detailed] designs. I recommend the SOLIDWORKS Startup Program to other entrepreneurs. It scales up as you grow, which is a great feature.”
Paul Pirrie, CTO & Co-founder at Myriad Wind Energy Systems
Conclusion
Startups are turning to cloud-based simulation software platforms to transform their product development process. This technology enables them to rapidly evaluate various design options, optimize their products, and identify potential issues early in the design phase—key factors in catching problems before they wreak havoc downstream. Using a cloud-based solution also eliminates the need for extensive IT infrastructure and substantial upfront costs in hardware and software.
This is particularly beneficial once startups begin building and testing physical prototypes, which can be prohibitively expensive. By minimizing the number of physical prototypes needed, startups can significantly reduce costs and accelerate time to market.
Read our startup guide: Five Ways Simulation Enables Business Success to learn more.
The SOLIDWORKS for Startups program offers free SOLIDWORKS 3D CAD, simulation, data management and other product development software that scales with your startup needs. The program participants also benefit from free training, co-marketing resources and networking opportunities. Apply now and see if your startups qualifies.
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