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A forum for engineers who aspire to become inventor-entrepreneurs to learn the pitfalls of the business and the most likely paths to success.
Latest Activity: Jan 14
Started by hugh Jul 13, 2014.
Hello All,I'm looking for an electrical engineer who is well versed with sensors to help put together a system. I'm offering monetary compensation as well as partnership. I'd appreciate any…Continue
Started by Roderick Whitfield Nov 2, 2013.
There is a "Patent Valuation" Group on linkedin.com that has some great content discussions even course details on Intellectual Property.Continue
Started by Roderick Whitfield Feb 13, 2012.
Patrick Dickerson is the owner of the Animated Pixel atThe Animated Pixel who is a virtual prototyper in which vurtual prototyping has…Continue
Tags: sales, orders, for, Prototyping, Marketing
Started by Allen Knoll Nov 16, 2011.
The Green Wave Project (GWP) mission is to identify appropriate benefactors and beneficiaries for facilitating the orderly transformation…Continue
Tags: exchange, technology, project, wave, equipment
Please visit my website for interesting inventor and entrepreneur information
International Society Of Product Design Engineers/Entrepreneurs ISPDEE
and if you need prototype parts for your invention or make a model visit,
E-Factor social Platform can help entrepreneurs get their designs to market, if you're a designer, inventor and entrepreneur thsi might be a great source to get your project to product on the market;
Kickstarter.com ,Indiegogo.com , Mission Small Business , Kiva.org could help inventors and entrepreneurs with trying find funding,
Do you know of any other links that are crowd funding type etc.? please comment about them to network to help others,
You can Use several source to get your Patented Product to Market:
KickStarter.comKickStarter.com or Mission Small BusinessMission Small Business or to raise capital to develop your Business, Product or Service!
Many thanks to everyone for your comments. Life is indeed fraught with difficulties.
Neil. You are absolutely right; it’s all guesswork and supposition, even if I used the right base figures. Obviously I’m enchanted with my invention but there is no market research to support my projections. Without knowledge one is left with belief only, however I do not believe I am so beguiled as to have totally lost touch with reality. I know I’ve got a winner, but what to do next is a problem, I don’t have the funds to develop to production by myself, so I will be forced to trade-off. I feel that finding the right partner is the key here.
Curt. Thanks for the lead. Sorry I won’t be able to afford the trip to the show, or the give-aways, unless I get the right partner.
Roderick. Scary stuff. What is the little guy to do? Again I see having the right partner is essential. I’m forced to accept that I need help, in return for vastly diminished income.
Thanks again everyone.
What is the the usual outcome after one has to file an enfringement...
You can visit this site on a helpful article that discusses the possibilities and subsequent outcomes after you have been enfringed and filed suit. The America Invents act has many disadvantage to small disadvantaged inventors competing with large companies with large legal budgets to exhaust the independent little guy, that is why documentation is to your advantage such as bridging intellectual property matter such as patents, trade-secret and know how because patents do expire plus your invention should look and do just as your claims specify in the patent grant, if its granted.
After your patent filings are done, I will look forward to seeing you at the National Hardware Show (http://www.nationalhardwareshow.com/). Maybe make 50 for giveaways/samples and then spend 3-4 days demonstrating at the show. If you decide not to exhibit, you can at least go around and talk with a large number of potential buyers/partners/co-venturers.
I love the trade shows......
You have stated that the product is unique. Being the first of its kind with no direct competitor is something investors do not like. There is no way to validate your potential market.
Yes, you can get investors, but you will have to give up a significant share of the company for the risk that they are going to take.
As for your market size numbers you really need to do some homework. According to the numbers on Wikipedia the world population is approaching 7B with the USA, Canada and the top five countries in Europe having on the something over 630M.
For initial investors you really need to focus on one country and one market place. You home country of NZ has 4.4M people.
Even with these population numbers how do you validate the market at 1 in 100 families or even 4.3 people per family. How many could you sell to in NZ?
I live in a building in the USA with approximately 150 families. None of us would need or want one, since we do not have a street to sweep.
It's a well known fact that mechanical engineers can't spell.
Remember this is a completely new product. Nothiong else like it exists. It's closes compeitors are the Leaf Blower and Pressure Washer.
Population of western world ≏ 260M ≏> 60M Families
Population rest of world ≏ 5,000M ≏> 1,250M Families
Assume western world Domestic Market saturation ≏ 1 family in 100 ≏> say 2.5M
Assume rest of world Domestic Market saturation ≏ 1 family in 1000 ≏> say 5.0M
≏> World Domestic Market saturation ≏ 7.5M
Assume light commercial Market saturation is same ≏> Total Saturation Market ≏ 15M
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