You can still get backing if you do something useful, Additive Assurance finds
Summary
But if your company does something that solves a real-world problem and that customers want as a result, then you can still get funded, believes Marten Jurg from Additive Assurance.Jurgs company announced a $4.1 million raise last week, led by Significant Capital Ventures. AAs products, which monitor the integrity of metal parts as a job is being printed, have international customers including Volkswagen (Jurg declines to name others. )It will use the funds to add staff in technical roles and business development, as well as establish a new Additive Manufacturing quality assurance centre of excellence at its Melbourne headquarters.I think the thing thats really important to mention, no matter what the flavour of the day is, is for companies that are doing good work and building real products with real clients, theres always a market for that, and theres always funding available for those businesses, Jurg tells @AuManufacturing, citing the lower appetite for cryptocurrency-related businesses versus a year ago.It may be difficult to get an introduction to some of these venture groups if youre not tackling one of those hot button topics of the day, but if its still good work, producing good products, it speaks volumes.Venture financing has slowed but not disappeared. According to Cut Through Venture, $638 million in deals were made in November, versus a little over twice that amount in November last year.In episode 37 of @AuManufacturing Conversations with Brent Balinski, Jurg tells us about what hes noticed in terms of funding for high-tech manufacturing startups, the companys progress since beginning 2019, the challenges that metal additive manufacturing companies need to address, and more.0:28 discovering a new way to spot very small defects in laser bed powder fusion printing while tinkering in the lab.2:18 Fault finding at university with a new machine from Germany.3:35 Being able to place material wherever you want and the complications this can lead to.4:50 In this day and age you can call fund-raising rounds what you want.5:31 What their investment funding round will support in terms of people and facilities.7:08 Has the reported slowdown in venture capital investment been noticed?8:50 Why things are getting better for researchers wanting to pursue commercial outcomes. Were waking up to whats happening around the world.10:56 How the labour market looks for the company, which is currently hiring machine learning specialists.12:40 Who their customers are here and overseas.13:28 There have been some interesting innovations in metal additive manufacturing, but the economics and quality still need to improve.15:54 Failure and success in metal AM jobs usually come down to what is being built and the experience of the users.17:52 We have incredible manufacturing ideas and talent in Australia, believes Jurg.