Three excellent businessmen
Bre Pettis shared a deep passion for robotics with his coworkers Smith and Adam Mayer. Finally meeting in Brooklyn, New York City, they made the decision to create a robot company. The purpose of the gathering was to create 3D printers that could print tangible products. Since the goal of this business was to create robots that could manufacture other goods, it was then known as Makerbot.
Challenges and competition
However, as a young business at the time, the corporation encountered difficulties and dangers. Other businesses starting up in the same field of innovation presented it with fierce competition. For example, the company faces competition from the ecosystem of 3D cloud-based companies. The start-up companies had predicted the coming up of Makerbot Company, and they were behind the use of cloud-based 3D in productivity and application in commerce.
The cost and threats
The company required large machines to start up on this robot business yet the machines were costly. They cost large volumes of money up to hundred thousand and more of dollars which was very expensive for a start. The rising of Copycat machines to outcompete the company was another threat that Pettis and his colleagues were worried. Just like any other new developments, Makerbot made several mistakes and learned from them to come up with perfect designs in their processes. It was not easy for the company to develop its pool of investors and clients.
Investments and industrialization
The company made a lot of investments in the beginning and needed to also venture in industrialization to come up with tools that were able to make printing of final products possible without the use of prototypes.
Work Cited
BAB706. Challenges in building a new industry: Entrepreneurial leader collection. Entrepreneurial Leader Collection. 2015, pp. 1-17.
