› Forums › Startups › News (Startup) › Robotic Dreams, Robotic Realities: Why Is It So Hard to Build Profitable Robot Companies?
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August 5, 2019 at 1:02 pm #34283
#News(Startup) [ via IoTForIndiaGroup ]
Some months before, Jibo and Mayfield Robotics, makers of Kuri, were forced to shut down sales and operations. Jibo was once heralded as “the first social robot for the home” and was named one of Time’s “Best Inventions of 2017.” Other than a few robot vacuum companies (mainly iRobot), no company has developed a successful home robot.
The news initiated a discussion on Facebook among robotics leaders, such as Chris Atkeson from Carnegie Mellon University’s Robotics Institute; James Kuffner, chief executive officer of the Toyota Research Institute – Advanced Development (TRI-AD); and Giulio Sandini from the Italian Institute of Technology. All agree the robotics industry is still on the rise; it is just extremely hard to make a profitable robotics company. But, unless big bets are made, new research and technology will never mature into products that are practical and useful for the world. Moreover, success in this area demands more than good technology. As James Kuffner stated, “It requires significant funding, committed leadership, highly skilled staff, resources, and infrastructure, and an excellent product and market strategy. Not to mention flawless execution. It is unrealistic to expect every effort to succeed.”
Chris Atkeson raised the big questions: What have we learned from the failures? How can we further build on the work? What lessons can be taken? How will the intellectual property be transferred? The future will tell whether the know-how will be reincarnated. Often, the work is secret, especially when sponsored by the military, and only amazing YouTube videos are released. However, some companies choose to contribute to the open source movement, with the Robotic Operating System (ROS) as probably the most well-known example.
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