January 27, 2014 08:00 AM Eastern Standard Time
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Dragon Innovation, the company helping hardware entrepreneursscale from prototype to production, today announced a first-of-its-kind crowdfunding challenge.Entrepreneurs that raise $1 million or more through a Dragon crowdfunding campaign will receive $100,000in additional funding from Dragon Innovation.
Any entrepreneur running a crowdfunding campaign on DragonInnovation.com as of January 1, 2014 iseligible for the Dragon Million Dollar Challenge. The funding will come in the form of an entrepreneur-friendlyconvertible note. Projects currently funding on the site include Mooshim Engineering’s Mooshimeter, Relayr’sWunderBar and PulsedLight’s LIDAR-Lite.Established in 2009, Dragon Innovation began as a manufacturing consultancy for hardware startups,working with Pebble, MakerBot, Sphero, Romotive, Sifteo and many others. Building on this foundationtowards the ultimate mission of providing hardware entrepreneurs everything they need to build a successfulcompany from idea to product in customers’ hands, Dragon launched a hardware-specific crowdfundingplatform in the fall of 2013. To effectively scale companies after a successful crowdfunding campaign, it isoften necessary to raise additional capital. As a next step in its mission to help companies succeed, theDragon Million Dollar Challenge provides an injection of capital right after a campaign when it is neededmost.“We envision Dragon Innovation as the official home for hardware, providing entrepreneurs everything theyneed to launch products and scale their companies,” said Scott N. Miller, CEO and co-founder. “By workingclosely with great entrepreneurs from the very beginning, Dragon can provide a full spectrum of resourcesand experience to help companies succeed. It makes natural sense for us to extend this commitment in theform of funding to help hardware entrepreneurs achieve success.”“We can say unequivocally that for the hardware revolution to succeed, companies building the next greatproducts need a partner like Dragon Innovation committed to their success,” said Bre Pettis, CEO of MakerBot. “Dragon’s Million Dollar Challenge demonstrates this commitment while giving companies the
Dragon Innovation Issues Million Dollar Challenge
Company Will Offer $100,000 in Additional Funding to Hardware Entrepreneurs that Raise
$1 Million ThroughCrowdfunding Campaigns on Dragon
Dragon Innovation Issues Million Dollar Challenge | Business Wirehttp://www.businesswire.com/news/home/20140127005368/en/Dragon-I...1 of 21/28/2014 12:26 PM