Download presentation
Presentation is loading. Please wait.
Published byBethany Walton Modified over 9 years ago
1
FDM Innovation & Entrepreneurship Scott Crump BSME, Co-Founder & CEO Stratasys
2
Stratasys & UTEP Partnership 10 years of business & partnering UTEP has twelve Stratasys FDM Systems UTEP has been a Beta Site and they do joint development in R&D including: –research –mechanical strength properties & characteristics –build parts for customers
3
FDM Innovation & Entrepreneurship
4
Scott & Lisa Crump set out to automate the gap between the CAD blueprint and the final manufactured product …. now called Rapid Prototyping CO-FOUNDERS
5
The “Start Up” Built “Toy Froggy” with 2 yr. old daughter - 1988 Ø Realized layered beads could build a part with a glue gun Added glue gun to a 2D Pen Plotter = 3D Plotter Ø For Proof of Concept Ø In our garage
6
Vision Offer Engineers a 3D Printer for desktop 3D CAD: Ø Easy to use - one “build button” from CAD Ø Automatic build of prototype Ø Use in the design office Ø $12,000 Price Ø Real production grade plastic parts We kept with the vision
7
3D Plotter - Vision
8
Operating 3D Plotter prototype
9
The “Start Up” “3D Plotter” for AutoCAD run on IBM PC Ø Tested Proof of Feasibility & it worked We had spent $10,000 so far - the big question: Ø Do we take the risk of a start up Ø Quit my job with good income - for no income Ø Or just forget the idea Ø Looked easy - but it wasn’t an easy decision Started up Stratasys on 2 nd shift – working 1 st shift
10
Follow your dreams Clear vision is more valuable than a detailed plan & have faith in your vision Take as high of a risk as you can stomach and control Lessons Learned for Engineers
11
I filed for a FDM Technology Patent It was granted in 1992 FDM - Fused Deposition Modeling: Ø Lower acquisition price vs. competition Ø Production grade plastic parts Ø Office friendly environment Emerging History - FDM Technology
12
Emerging History - Patented FDM Technology Support MaterialModeling Material
13
FDM Filament Spools
14
Get Patents to protect global proprietary position Start ups are a lot about survival and persistence The entrepreneur is persistent Cash is KING - you’re in business as long as you have cash Lessons Learned
15
Keep focused on what value you add to your customer Price your service and product to the market - not cost Work with a seasoned Mentor that has done it Try to have variable cost & low fixed cost Lessons Learned
16
Funding - Sold equity as needed - to grow Lisa & I invested in 1989 My family invested in 1990 Talked with 74 Venture groups & we found one Battery Ventures (VC) invested $1.2M in 1990 Lisa & I invested again 1992
17
Funding - Sold equity as needed - to grow Serious problem funding high growth!! We were growing at 125% per year Unsuccessful getting $5M private offering Difficult decision - do IPO or shut the doors We contacted 23 IPO underwriters nationally Successful $7M IPO in 1994 East Coast Underwriter We had Sales of about $3 million Stratasys publicly traded on NASDAQ
18
Stock options help employees focus & gain Don’t be afraid to sell equity - 100% of nothing is nothing Don’t fund long term risk - with debt We thought we could grow Stratasys with $90,000, it actually required $20M - Hey not all plans work Lessons Learned
19
FDM can build working assemblies
20
$25,000 3D Printer – Stratasys First to Market IPO funded 3D Printer development
21
Enormous Growth Potential Global Engineering Population 28.5 Million Engineers 5 Million MCAD Users Source: Stratasys, CADigest, engineeringtalk.com, Deskeng.com
22
AF Systems Today 37,000 5 Million CAD Workstations Worldwide 3D Printer Opportunity >500k Systems at the right price! 3D Printer Opportunity
23
SSYS Currently shipping 2,000 Units per year We have a plan for 5,000 per year My vision is 10,000 per year 3D Printing Vision
24
–The question is, how to do 10,000 per year? –For this expansion, we need to: 1. Improve system quality & our culture 2. Growth of sales channel SSYS 3D Printing
25
It’s really all about your team of employees Hire the right employees the first time –If you don’t know how to hire, use a head hunter Don’t be cheap with employee salaries Measure and share critical business metrics Lessons Learned
26
The 3D Printer fits a Traditional Technology “S” Curve Traditional Technology “S” Curve
27
Stratasys Sales Growth (in Millions)
28
Industry Overview
30
Cross the Chasm with a Whole Product
32
Whole Product Criteria Correct price Correct ongoing operating cost Product reliability Ease of use Correct sales channel Product speed Part quality Correct market application Competitive positioning
33
Whole Product Criteria - FDM-3000 Scale: 10 = High to 0 = Low
34
HP Agreement Stratasys and HP Agreement: Taking 3D Printing Mainstream
35
HP Agreement HP will sell our 3D printers as HP brand. Stratasys will develop and manufacture for HP based on proprietary Stratasys FDM technology. Part of $24 billion HP’s Graphic Solutions Business HP’s goal is worldwide distribution of 3D printers.
36
+ Right Solution Right ChannelMillions of Potential Users 3D Printing Opportunity +
37
FDM Medical
38
Application Success Story For Medical Tools, Functional Prototypes Improve Design – Ratchet for Spinal surgical procedures “At Medtronic – Sofamor Danek, cutting edge medical technology takes new shape, thanks in part to FDM prototyping technology, forward-looking companies seek forward-looking partners.” says RP designer, David Freeman.
39
So how will FDM expand in the future? FDM Future
40
Futuristic FDM Architectural models FDM for the home hobbyist Metal FDM parts Nano and composite build materials FDM fabricated semi-conductor chips
41
Direct Digital Manufacturing Fully automatic touch-less labor products Production of end use parts Hydro forming sheet metal fixtures
42
Sheet Metal Hydro Forming FDM Hydro-form Example Male mold with intensifier FDM trim tools for sheet metal blanks or formed sheet part Coordinated structure removal and installation tooling
43
3D Production Systems 200mc™ 360mc™ 400mc™ 900mc™ Direct Digital Manufacturing End Use Parts (EUP) $100,000 tool savings using DDM process for one part
44
Questions
Similar presentations
© 2025 SlidePlayer.com Inc.
All rights reserved.