The startup Juicero proved this. In 2016, they launched a high-tech juicing machine. It was a marvel of engineering, complete with a camera to scan QR codes on packs of juice and an internet connection to verify if each pack had expired or not. The company’s founder, Doug Evans, compared himself to Steve Jobs and touted that his juice press wielded four tons of force.
Juicero also solved the problem that plagues so many juicers–preparation and maintenance. Juicing machines are notoriously painful to maintain. Users have to prepare the fruits and vegetables, a time-consuming task, and the machines need to be cleaned regularly, which nobody likes doing.
With the promise of solving these problems, Juicero raised a whopping $120 million and was off to a running start–only to stumble right out of the gate. First, they priced their machine at a ridiculously high $700, later dropping it to $399. But that was just the beginning.
Alessandro Zago has been helping startups at Founders Space as a mentor since 2014. With 16+ years of extensive international and executive experience with strong emphasis on Silicon Valley-Asia cross-border business of new technology and innovation, he has a lot to offer.
