The Smart Cover for iPad comes with a lot of limitations. You cannot adjust the angle according to your needs. This is where the Smarter Stand steps in. Smarter Stand is composed of 2 clips that attach to either side of the Smart Cover or the Smart Case. For the Smart Cover, a polyurethane pad that sticks to the back side of the iPad is also provided to prevent the iPad from slipping. For the Smart Case, no pad is needed since the neoprene of the back cover provides the grip necessary.
You can achieve different stand positions by sliding the clips so they block the folds of the Smart Cover. Have a look at the video below to understand it better.
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You can back the project at Kickstarter.