Business Development Executive - Human Machine Interface (HMI) Technology

Overview:

Our client is an exciting early stage Tech company developing a hands free human/machine interface (HMI) technology platform that will revolutionize how people can interact and control devices. As they have achieved major benchmarks in product development, they are in search of a Business Development Executive to establish and roll out a Reference Design Business Development Model. This model aims to position the company at the forefront of wearable technology by leveraging strategic partnerships to expand their product suite, enhance their technology, and enter new markets. They aim to build a strong ecosystem around the platform, driving innovation, and creating value for their partners and customers.

Position Summary

The Business Development Executive is tasked with formulating and executing a comprehensive business development strategy focused on establishing and nurturing strategic partnerships across various sectors. This strategy will underpin the company's growth and expansion into new markets, leveraging the innovative reference design of their wearable technology platform. A cornerstone of this strategy is the development of a Partner Program, which aims to identify and engage key partners in hardware, software, and cloud computing to enhance their product suite and market reach.

Key Responsibilities

Identifying Strategic Partners

• Hardware Partners: Focus on engaging leading technology companies that specialize in components or devices complementing the technology. These partnerships can range from integrating our client’s technology into their devices to co-developing new wearable platforms.

• Software Partners: Seek out partnerships with major software developers and platforms that can extend the functionality of our client’s wearables. These partnerships could involve developing bespoke applications, enhancing interoperability with existing ecosystems, or creating new user experiences.

• Cloud Software Companies: Partner with cloud infrastructure providers to ensure our client’s wearables and their tech platform have the scalability, reliability, and security needed for global deployment.

Channel Partner Program

• Industry Focus: Develop a channel partner program targeting industries where hands-free Human Machine Interface (HMI) technology offers a significant advantage.

• Value Proposition: Highlight the unique benefits of our client’s technology, such as improved efficiency, accessibility, and user experience, to appeal to potential channel partners across industries.

Integration Strategy

• Technology Integration: Working closely with the Head of Product, craft a strategy for embedding our client’s hands-free HMI technology into other companies’ hardware products. This involves identifying products and sectors where our client’s technology can add significant value, such as enhancing accessibility, improving operational efficiency, or creating immersive user experiences.

• Co-Development Opportunities: Explore co-development opportunities with hardware and software partners to create integrated solutions that leverage our client’s technology.

Execution Plan

1. Market Analysis: Conduct thorough market research to identify potential partners and industries where our client’s technology could impact most significantly.

2. Outreach and Engagement: Initiate outreach to potential partners with a tailored value proposition, highlighting the mutual benefits of the partnership.

3. Pilot Projects: Propose pilot projects or collaborations with key partners to demonstrate the technology's practical benefits and potential in real-world applications.

4. Negotiation and Agreement: Work closely with the CTO and legal team to negotiate partnership terms that align with strategic goals and protect intellectual property.

5. Integration and Co-Development: Collaborate with partners to integrate our client’s technology into their products or platforms, ensuring seamless functionality and user experience.

6. Marketing and Promotion: Develop joint marketing and promotion strategies with our client’s partners to maximize the visibility and adoption of the integrated solutions.

7. Feedback and Iteration: Establish mechanisms for ongoing feedback from partners and customers to improve the technology and partnership models continuously.

Collaboration with the CTO

The Business Development Executive will work closely with the CTO and Head of Product to ensure that the technological aspects of the partnerships align with the product development goals and capabilities. This collaboration is crucial for:

• Ensuring the technical feasibility of integration projects.

• Aligning product development with market needs and partner expectations.

• Protecting and enhancing the security and IP of the technology through strategic partnerships.

What does success look like/Expectations

• 30-60 days: Industry mapped out and contact initiated with targeted, high probability companies

• 90-120 days: 5 - 10 partnerships or prospect opportunities identified and in discussions

• 6-9 months: 3-5  prospects identified and in advanced discussions

• 12 months: 1-2 Partners signed & orders placed)

Requirements

• A relationship builder who has a track record of building and leveraging strategic partnerships to achieve business goals.

• Self-starting, entrepreneurial, and highly skilled at negotiating and closing $MM, long sales cycles, licensing, or deep technology integration (Design in) wins.

• Strong communication and interpersonal skills, demonstrating the ability to foster collaboration within teams and establish robust external partnerships.

 For transparency reporting purposes, the estimated base compensation range is $160k to $200k annually. This range is an estimate only and may be adjusted to reflect market conditions.

Contact

Darrell Bowman - T: 604-639-9562, darrell@corporate.bc.ca