To stay updated on your favorite discussions, please create an account or log in. Then, click the Bookmark icon to subscribe and receive notifications.

Road blocks for the development of the version two of our product

MICHAELHEINRICH
MICHAELHEINRICH W/ Alumni Posts: 1 Security Scout

 

Starting up a business yourself is scary since most of the time there will be no one else with you for an advice. That is exactly my problem. I know this may not be the perfect place to ask this question. But I believe the people here can help me out. 

 I have a hardware startup, the first version of our product is already out there in the market. It is receiving good reviews. Currently, we are working on a second version of the product. But we've hit a major roadblock. The current technology we possess is not enough for the development of the new version. The only option we have is consulting a company who does research and development on a contract basis. Here is where I need advice. We want their technology and help but we still want to be in charge of the development. Is this how contract based R & D works? Any insights on this will be appreciated.