7 lessons from CES 2024 from Garage&co
Attending the Consumer Electronics Show (CES ) 2024 was a long-held dream for the Garage&co team. Alongside Christian Beaubien , our Entrepreneur in Residence, and Thibault Lerailler , Designer in Residence at Garage&co and CEO of Punctuate Design , we immersed ourselves in the epicenter of technological innovation in Las Vegas. The event was a whirlwind of over 4,500 new product launches and groundbreaking technologies (an excavator for Mars, genetically modified plants, flying cars), each offering unique perspectives. Our journey through this vibrant landscape of innovation was not just an exploration, but a valuable learning expedition. This blog post is a distillation of our experiences and collective reflections at CES 2024
Be ready to stand out
With over 4,500 products launched at CES, it's crucial for startups to be well-prepared and stand out. A striking example is Montreal startup Bello (incubated at Garage&co), which captured everyone's attention with its PSF (functional sexy product). Clément and Marc's booth was constantly crowded with hundreds of curious onlookers. This underscores the importance of having an impactful presence and a product that stands out in a crowded tech landscape.
Use of AI and Data
The ubiquity of AI at CES underscores its importance in the hard tech sector. Startups need to understand how to leverage AI and use their data effectively. The Verge 's CES article notes that AI wasn't just a buzzword but a significant driver of innovation in various fields, highlighting the need for startups to thoughtfully integrate AI into their products and services.
Focus on pre-sales
Successful pre-sales strategies are crucial to startup success. During our visit to our friends at Tandem Launch , we discovered the startup Viridox , which effectively used pre-sales to build momentum and validate their product in the market. Engaging potential customers early and securing sales before the official launch can provide crucial funding and market validation.
Active networking
Startups should actively engage in networking, pitching, and competitor analysis. Leveraging resources like the Canadian delegation to organize B2B meetings and gain a deeper understanding of competitors can offer significant benefits. It's all about seizing every opportunity to showcase your product and learn from others in the field.
Understanding the competitive landscape
During our three days in Vegas, we saw about 20 different robotic pool cleaners, as well as autonomous and AI-powered lawn mowers. At first, it was fun; but by the end, they were becoming indistinguishable. Startups should strive to offer more than just incremental improvements. Being truly innovative and different is the key to standing out.
Sustainability as a fundamental value
Samsung and LG devoted a significant portion of their (huge) booths to promoting their sustainability strategies. While their true impact is debatable (after all, the most sustainable object is one that doesn't exist), social and environmental discourse was omnipresent at CES. Startups should consider integrating sustainable practices and values into their business models and product designs, responding to growing consumer demand for environmentally friendly technology.
Strategic partnerships to scale up
We took the time to meet with a few international partners to discuss product scaling strategies. Among them, Yoann Boudou of Supernova Innovation , based in Shenzhen, with whom we emphasized the importance of not just thinking of the product as a prototype, but of taking the time to build a product that can be manufactured at scale. Having a partner on the ground helping you with 'design for manufacturing' will help you avoid major and costly mistakes when scaling your startup.
Bonus: Choose your flight carefully
This is a little joke, but if you want to save a few dollars on your flight, it's possible that your airline is more or less on time. Both of our flights were delayed by more than 5 hours round trip. 💀
It's clear that the CES 2024 experience was much more than just an opportunity to showcase our hub to various international partners (and test out a multitude of cool gadgets); it represented a comprehensive learning experience that will shape our approach in the hardtech industry. This includes realizing the importance of preparation for the startups we support, the effective use of AI, the focus on pre-sales, as well as the importance of sustainability and strategic partnerships. These lessons are not just lessons but real roadmaps for our success. For Garage&co., participating in CES wasn't simply the realization of a dream; the team returned enriched with new perspectives and armed with innovative strategies to inspire and drive success.
A big thank you to our collaborators on the ground, Nicholas Nadeau, Ph.D., P.Eng. ( SmartOne ), Guillaume Bédard, BComm, ICD.D ( Tangente Services ), Vaughn DiMarco ( XMachina) , Zach Ronski , Danielle King (Pilot), Marc SCHAAL and Clément Bouland ( Bello ), Julian Lucchesi, M.Eng. ( Centech )