Published on April 16, 2026
Hard tech startups traditionally struggle to secure funding, with nearly 90 percent failing due to financial limitations. These companies often require significantly more investment than their software counterparts, needing at least $30 million for development. The situation has remained unchanged, with many capable ideas falling short due to inadequate financial backing.
In response, IEEE Entrepreneurship launched the Hard Tech Venture Summits in 2024 to bridge the gap between founders and potential investors. These two-day events aim to foster connections within the hard tech community manufacturers, engineers, and legal experts. As participation grows, the summits promise increased visibility for startups struggling to navigate funding challenges.
The summit format includes networking sessions, workshops, and pitch competitions designed to provide practical insights for founders. Participants can present their ideas to investors who offer valuable feedback on their business models. Over 90 percent of past attendees reported gaining important connections, underscoring the event’s value in the hard tech landscape.
Wong asserts that IEEE is uniquely positioned to support hard tech ventures, given its resources and engineering focus. Upcoming events in North America and beyond aim to expand the network of support. As founders gain access to critical investment opportunities, the potential for innovation in hard tech continues to grow.
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