My Mini Factory
The Youtube of 3D Printing: social media platform for 3D Printable objects - independent and curated
- Location
- London, United Kingdom
Categories: Home & Personal Mixed Digital/Non-Digital B2C
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Investment
sought: - £500,000
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Equity
offered: - 5.03%
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Investment
amount: - £735,550
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Valuation
(pre-money): - £9,439,890
Team
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Executive Chairman -
Chief Executive Officer -
Chief Marketing Officer -
Chief Technology Officer -
Chief Financial Officer -
Non-Executive Director -
Non-Executive Director -
Non-Executive Director -
Non-Executive Director
Idea
Introduction
MyMiniFactory is an independent curated social media platform for 3D printable objects. The MyMiniFactory.com platform connects users, 3D designers, advertisers, brands and makers of 3D printed objects.
The platform was launched in June 2013. Its user base now exceeds 80,000 registered users. MyMiniFactory is the world's most popular independent, curated platform for 3D printable objects.
MyMiniFactory is a curated, user generated content platform: each published 3D model has undergone a rigorous review process, including a test print. This curation is core to MyMiniFactory's business model, where quality matters more than quantity.
Analogous to how music, videos or photo sharing platforms are connecting artists with their followers and subscribers, MyMiniFactory facilitates the interaction between the users and the 3D designers. It makes innovative tools available to its community, such as MMF Tipping, MMF TV, MMF Connect, and the MMF Store.
Intended impact
The quality of the content available on MyMiniFactory is central to the 3D printing revolution.
FOR THE USERS
MyMiniFactory offers the easiest and cheapest way to get ready-to-print quality files, with its free-to-download service - similar to the way music and videos are available from platforms such as Spotify and Vimeo.
To be ‘print ready’, 3D printable files require optimisation. Poor quality 3D files will not print correctly, will waste time and materials and can potentially damage the 3D printer.
Therefore the curated content available on MyMiniFactory solves a critical issue for the users of 3D printers.
FOR THE DESIGNERS
Comparable to how musicians, artists and performers use Vimeo and similar platforms to engage with their audience, 3D designers also desire to get in direct contact with their end users.
MyMiniFactory offers them tools (likes, followers, comments, MMF Tipping, MMF TV, MMF Connect, MMF Store) to engage with their community, raise their profile and make money.
FOR THE MAKERS
For the owners of 3D printers who are looking to make money by printing for others, MMF Connect offers wide scale exposure to a crowd of people in need of 3D printing services.
FOR THE BRANDS
MyMiniFactory offers brands a unique opportunity to engage with its robust and rapidly growing creative community through innovative services: MMF Contests, product endorsements, and white label libraries.
Current and future clients of these services include:
• 3D printer and 3D scanner manufacturers,
• Filament and material providers,
• CAD and other software editors
• New tech
• Fashion brands.
Substantial accomplishments to date
In just 2 years MyMiniFactory has reached these key milestones:
- assembled a strong team of 3D designers, senior developers and efficient marketers led by focused, hardworking, skilful and passionate visionary executives (CEO and Executive Chairman);
- defined a clear and successful vision with a quality-over-quantity strategy;
- attracted over 80,000 registered users, with minimal marketing expenditure;
- reached an Alexa ranking of under 2,500 in the UK;
- built a platform with innovative social media features (MMF Tipping, MMF TV, MMF Ideas, MMF Connect, MMF Store);
- partnered with the BBC and their micro:bit initiative to offer 3D printed designs to 1 million school children in the UK;
- partnered with Cel-Robox in January 2015, a leading UK 3D printer manufacturer, to embed our platform into their software, followed by a similar integration with CreateItReal in July 2015 and with HyVision in August 2015.
MyMiniFactory is well positioned to capture the high growth in demand expected for quality 3D Printable files.
Monetisation strategy
MyMiniFactory seeks to build the world’s largest community of talented 3D printing designers (3D designers with an expertise in 3D printing) and 3D makers (owners of 3D printers) to follow in the steps of successful platforms such as YouTube, Vimeo, Spotify, Wattpad, Soundcloud, Fotolia...
MyMiniFactory’s business model relies on 3 lines of revenue:
- Premium Services (Freemium model): while the files will remain free to download, specific format files and related services will incur some fees, while Premium subscribers will get unlimited access (from January 2016);
- Advertising Revenue: the large base of targeted users and MyMiniFactory's leading position attracts a large range of brands to advertise their products and services (3D printer and 3D scanner manufacturers, filament and material providers, CAD and other software editors, new tech and fashion brands);
- Object Sales: MyMiniFactory offers an online store through which popular 3D printed objects are sold. Users who do not own a 3D printer can buy the physical objects.
Use of proceeds
The Company aims to raise 500,000 GBP through this crowdfunding campaign.
The reason for the fundraising is to grow MyMiniFactory further by executing the business plan:
- hire new talents;
- offer more 3D printable content;
- develop new online tools and services;
- leverageour innovative marketing strategies.
Market
Target market
The demand for 3D printable files is expected to grow significantly in the next few decades,with the expected adoption of desktop 3D printers by a very large population of 3D designers, architects, engineers, tech enthusiasts and makers. The introduction of 3D printing into the curriculum of many education systems in Europe, the USA and Asia will also support the future growth of the technology.
3D printing is the process of making an object from a 3D model. It encompasses techniques such as FDM, DLP, SLA, SLS, 3DP, EBM, LOM and CLIP. 3D printing uses an ever expanding range of materials such as plastics, ceramics, metals, wood, human cells, food... Until 2009, 3D printers were expensive (above $10,000) and the market was industrial only. Following the expiration of some patents, the Open Source community embraced the technology and came up with affordable 3D printers (under $5,000). Since then the market for desktop affordable 3D printers ($300-$3,000) has grown significantly, while the total 3D printing market (including industrial) grew to a multi-billion dollar business.
Only a fraction of the existing 20 million CAD users (Computer Aided Design) are currently designing for 3D printing. The Directors expect this share to grow significantly, and the platform to reach millions of users over the next few years.
Going forward, experts from Canalys, the Gartner Group and Wohlers forecast significant growth for the 3D printing market. The Gartner Group forecasts 3D printer shipments to more than double every year between 2015 and 2018.
3D printers are getting more reliable and printing faster for cheaper, which will drive tremendous growth in the need for 3D printable content. MyMiniFactory will benefit from this demand with its leading position and satisfied returning users.
Characteristics of target market
The Internet dramatically transformed the way we consume music, videos, books and photos by bringing the artists directly into contact with their followers. Artists have had to promote themselves and to manage their profile using the many platforms available.
This revolution is now reaching 3D designers. With 3D printing becoming more accessible, 3D designers are increasingly able to communicate with their customers. Through MyMiniFactory.com they can share their work with anyone that has access to a 3D printer (at home, at work, at school or via a maker/service bureau). 3D designers are learning how to promote themselves, how to directly distribute their products and how to build their brand.
MyMiniFactory is focused on helping talented 3D designers become celebrities, as YouTube, Vimeo, Soundcloud and Wattpad did with performers, musicians and writers.
Marketing strategy
MyMiniFactory has grown significantly with nearly no marketing spend. The success results from the clear vision to build a curated platform where 3D printable files are available for free to download.
Happy users have become MyMiniFactory’s best ambassadors.
Going forward, MyMiniFactory intends to capture its market with:
- more content: by continuing to attract the most talented 3D designers;
- new tools: by further strengthening the developmentteam;
- more traffic: by leveraging innovative marketing strategies.
So far, the platform has benefited from extensive media coverage at no cost. MyMiniFactory is engaging with the communities of talented 3D designers and users with innovative marketing strategies.
MyMiniFactory's marketing spend will remain modest, as the management team will favour efficient and cost effective strategies to grow the user base, as they have done since the launch of the platform 2 years ago.
Competition strategy
MyMiniFactory is the leading curated platform for 3D printable objects. Its main competitor is Thingiverse, owned by Stratasys, a large US based manufacturer of 3D printers, including Makerbot, and therefore is not independent.
Thingiverse started its operations in 2008. It has over 100,000 3D files, many of them being only small variations of others. They are not curated, and a significant proportion are arguably not even 3D printable.
Other competitor platforms are either:
- not independent, tied to a manufacturer: Cubify, Youmagine...
- not 3D printer oriented: CGTrader, Gradcad, Turbosquid...
- service bureaus not offering downloads: iMaterialise, Sculpteo, Shapeways...
- smaller players: 3dFileMarket, 3dShook, Cuboyo, Fabbly, PinShape...
MyMiniFactory's competitive edge relies on 5 strong pillars:
- MyMiniFactory is independent,
- MyMiniFactory is curated and only publishes quality content,
- MyMiniFactory is led by a strong team of dedicated & passionate hard working talents,
- MyMiniFactory is an integrated social platform with powerful and innovative tools,
- MyMiniFactory has achieved strong results in just 2 years.
Independence has been key to the success of Vimeo (Video), Spotify (Music), Wattpad (Text).
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