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FDM Innovation & Entrepreneurship Scott Crump BSME, Co-Founder & CEO Stratasys. 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

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stratasys utep partnership
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
co founders
CO-FOUNDERS

Scott & Lisa Crump set out to automate the gap between the CAD blueprint and the final manufactured product ….

now called Rapid Prototyping

the start up
The “Start Up”
  • Built “Toy Froggy” with 2 yr. old daughter - 1988
      • Realized layered beads could build a part with a glue gun
  • Added glue gun to a 2D Pen Plotter = 3D Plotter
      • For Proof of Concept
      • In our garage
vision
Vision

• Offer Engineers a 3D Printer for desktop 3D CAD:

      • Easy to use - one “build button” from CAD
      • Automatic build of prototype
      • Use in the design office
      • $12,000 Price
      • Real production grade plastic parts
  • We kept with the vision
the start up1
The “Start Up”
  • “3D Plotter” for AutoCAD run on IBM PC
      • Tested Proof of Feasibility & it worked
  • We had spent $10,000 so far - the big question:
      • Do we take the risk of a start up
      • Quit my job with good income - for no income
      • Or just forget the idea
      • Looked easy - but it wasn’t an easy decision
  • Started up Stratasys on 2nd shift – working 1st shift
lessons learned for engineers
Lessons Learned for Engineers
  • 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
slide11

Emerging History - FDM Technology

  • I filed for a FDM Technology Patent
  • It was granted in 1992
  • FDM - Fused Deposition Modeling:
      • Lower acquisition price vs. competition
      • Production grade plastic parts
      • Office friendly environment
slide12

Emerging History - Patented FDM Technology

Support Material

Modeling Material

lessons learned
Lessons Learned
  • 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 learned1
Lessons Learned
  • 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
funding sold equity as needed to grow
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
funding sold equity as needed to grow1
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
lessons learned2
Lessons Learned
  • 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

25 000

3D Printer – Stratasys First to Market

$25,000

IPO funded 3D Printer development

enormous growth potential
Enormous Growth Potential

Global Engineering

Population

28.5 Million

Engineers

5 Million MCAD Users

Source: Stratasys, CADigest, engineeringtalk.com, Deskeng.com

slide22

3D Printer Opportunity

AF Systems Today

37,000

5 Million CAD Workstations Worldwide

3D Printer Opportunity

>500k Systems

at the right price!

slide23
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

SSYS

3d printing
3D Printing

SSYS

  • The question is, how to do 10,000 per year?
  • For this expansion, we need to:
    • Improve system quality & our culture
    • Growth of sales channel
lessons learned3
Lessons Learned
  • 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
slide26

Traditional Technology “S” Curve

The 3D Printer fits aTraditional Technology “S” Curve

whole product criteria
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
slide33

Whole Product Criteria - FDM-3000

Scale: 10 = High to 0 = Low

slide34

HP Agreement

Stratasys and HP Agreement:Taking 3D Printing Mainstream

hp agreement
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.

3d printing opportunity
3D Printing Opportunity

+

+

Right Solution

Right Channel

Millions of Potential Users

slide38

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.

slide39

FDM Future

So how will FDM expand in the future?

futuristic fdm
Futuristic FDM
  • Architectural models
  • FDM for the home hobbyist
  • Metal FDM parts
  • Nano and composite build materials
  • FDM fabricated semi-conductor chips
direct digital manufacturing
Direct Digital Manufacturing
  • Fully automatic touch-less labor products
  • Production of end use parts
  • Hydro forming sheet metal fixtures
sheet metal hydro forming
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
3d production systems
3D Production Systems

Direct Digital Manufacturing

End Use Parts

(EUP)

200mc™ 360mc™ 400mc™ 900mc™

$100,000 tool savings using DDM process for one part

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