Ever sued Starbucks for drinking coffee that’s too hot? OK maybe that’s a going a little too far. This story combines so many OM topics we touch on, as well as synergising with our front cover, that I’m just going to list them below. The link takes you to the crowd funding website Indiegogo, where Smart Lid are making their pitch for funds….
- Smart Lid is a coffee cup lid that changes colour according to how hot the beverage is.
- The new product development process took 12 years.
- It was developed in Australia and has now gone into production there.
- It wants to develop production and sales in other markets, especially the USA.
- The company is seeking funding for this from a US-based crowd funding website.
- In return for their injection of funds, investors will be rewarded with packs of Smart Lids, in proportion to their level of investment. This ensures that the operation will have a sufficiently large production run to start up in this market.