LastBasic

As experienced Engineers, we discovered the exclusivity problem of our industry that made us rethink the current engineering landscape for modern inventors.

Everyone has technological ideas. However, they don't pursue them because they encounter the big obstacles you find in the traditional model:

After research, interviews, and an MVP with traction and paying customers, we have successfully created a platform that resolves these obstacles and makes prototype creation more accessible. Our model results in:

The platform

We have created a digital platform that acts as a marketplace: inventors submit an idea and, through a process of different contests, designers and engineers send proposals for the inventor to approve.

According to our customers, the best aspect about our platform is that we have removed all the unnecessary processes, making the prototyping journey easier, collaborative, and with plain language. This means the inventors can create their ideas in up to 10 times more affordable manner when compared with traditional design and engineering agencies.

Have a look at some features:

Automated onboarding, while we educate the inventors and let them submit ideas in an easy way:

High quality proposals for each phase of our process (sketching, 3d modeling, mechanical engineering, and electrical engineering):

Generated files are always available to the inventor. The inventor is the owner of everything:

• Contest-based process is easy to understand.
• Inventors make the decisions and drive the development.
• Perfect for prototyping, validating, and iterating.
• More than 750 ideas have been analyzed, and the platform has made 25+ end-to-end hardware projects in 2021. Update: in 2022 (until October), we have received more than 900 ideas already.

The inventors

Our platform is made for everyone, including non technical inventors. They find the process easy to use and almost half of them submit more ideas.

Key Inventor metrics:

• Average Order Value of US$ 6,000, with ~50% profit margin per project.
• Today, the average LTV of the inventor in the platform is over US$ 9,000.
• Inventors from USA, UK, Australia, and 15 other countries so far.

The designers/engineers

We pay our experts more than US$ 10,000 each month in incentives and prizes for contributing to our contests.

Key expert metrics:

• Experts (designers and engineers) earn money each time they submit a valid proposal, even if they don’t win the contest, which has never been seen before in freelance platforms.
• Open innovation: Every concept submitted is valuable for the inventor, so we reward them.
• For each project there is an average of 20 high quality design and engineering proposals submitted.
• Experts see value in participating in full real projects, and integrate LastBasic in their lifestyles.

Market

Current market premises:

• 80% of the projects in our platform are IoT.
• All the projects in our platform are MVP or pre-production prototypes.
• The majority of the inventors in our platform are bootstrappers.

Competitors

How big do we dream

• We want to have inventors and experts from more countries.
• We want to complement our current model with a subscription offering for both inventors and experts.
• We want to access the B2B market (companies and agencies).
• We want to power-up our partnerships with manufacturers to optimize logistics, and offer more production solutions to inventors.
• We want to have add-on features for before, during, and after projects.

Disruptors

Although we are a full digital platform that delivers physical prototypes, we are a team of 11 humans: we design the experience, code the platform, and make sure everything goes as planned.

Thank you!

We want to thank you and all the people that have already trusted LastBasic, making it the best solution for inventors all over the world.