I find the linked article to be particularly heartening; it’s about a Dutch startup called, Hugsy.  I like it on so many levels.  For instance:

Very Early, Small Angel Investment
Hugsy raised $220,000 to take its MVP smart blanket product to the next stage.  It’s refreshing to see that investors were willing to pony-up this seed funding, money that (one can only presume) is desperately needed to keep Hugsy moving forward.  Since the company will need far more than this seed money to succeed, these angel investors really took a risk.

Realistic Market Focus and Time Frame
Hugsy expects to introduce its product in the local market sometime in the Spring of 2018.  That sounds like a reasonable, achievable plan.  So often one sees startup sales plans that are unduly influenced by investor and/or entrepreneurial ambitions.  National or international sales goals are highlighted, immediate plans not so much.  Contrary to what many entrepreneurs think, most angel investors can spot short term milestones that are nothing more than targets established after working backwards from a fifth year sales goal.

Non Retail Focus
I particularly like Hugsy’s focus on hospital (read, “commercial”) customers.  All too frequently, startups believe that the only way to sell a product is by targeting retailers and/or end users.  In this case the entrepreneurs have targeted the premature baby care market, specifically the hospitals that provide such services.   It’s a laudable target in all senses of the word.

Dedicated Entrepreneurs
Prior to receiving this seed funding, Hugsy’s founders worked on the project for more than two years.   They’ve participated in an accelerator program, raised money through crowd-funding and collaborated with a local hospital and university.   Their path has not been easy, nor will it get easier very soon.  They are to be commended.

 

The original story appeared on www.techcrunch.com

Hugsy, a Dutch startup that’s developing a ‘smart’ blanket designed to help the care of newborns and premature babies, has raised €200k (~$220k) in seed..

Source: Hugsy snags $220k to bring its smart baby blanket to market

Marc Slafsky