Gartner’s famous hype cycle has landed consumer hype for 3-D printing in a period of decline, but this has had little bearing on the advance of the technology. Despite waning consumer interest, 3-D printing has continued to grow at a rapid pace, largely due to adoption from entrepreneurs who see the technology as an integral part of the future.
3-D printing, which is most commonly associated with small-scale prototype development, is finally making the leap into market-scale production. What is driving the recent change? John Carrington, CEO and founder of ZVerse, a 3-D printing software company, explains, “Turning 2-D concepts into 3-D models used to take a significant amount of effort and expertise from the designer. It was immensely challenging to bridge the gap between idea and product fruition. With recent advances in software that support 3-D printing and its business integration, it has become feasible for entrepreneurs to leverage this technology to advance their businesses.”
Here are some of the top ways entrepreneurs are using 3-D printing technology to accomplish their goals:
1. Developing minimum viable products.
For entrepreneurs and startups, this is a significant development. One of the biggest hurdles in starting a venture is developing a minimum viable product that will garner early customers and investors. In the past, product development has been costly, not only because it requires highly-skilled design but also the expense of creating more units is often prohibitive for self-funded startups.
By providing low-cost production at faster speeds, 3-D printing is helping entrepreneurs develop minimum viable products at a much faster rate. This means that when it comes time to raise funds, instead of presenting an idea to investors, entrepreneurs can introduce an actual physical product. If they plan on crowdsourcing through online communities, it’s much easier to garner support with a visual presentation of a real product that crowd funders can get behind.