Congratulations to Inventors
Congratulations to inventors Coty Bogart, Anya Douglas, Michael O'Connell and Chris Hernandez! In the past four months their inventions were submitted to Invention City and declined...
But instead of giving up, they proceeded to have surveys conducted of their inventions to find out if there was a target market at a profitable price. Looking at the survey results, Invention City decided there is and offered them licensing deals. The previous "no" became a "yes." A deal doesn't guarantee their inventions will make money, but it does mean that Invention City will spend its own time and money on their inventions to try and make them successful - they won't spend anything more.
Below is an example of survey responses to ICity's crunchy "Would you buy" survey question. Based on 30+ years of experience, Invention City interprets answers to this question as a hotness indicator rather than as a forecast of likely sales. When a combined 50% or more of respondents in a target market say they would buy today or probably next week, Invention City considers the invention to be worth serious consideration.
The total number of random respondents for the survey was 224. The 65 respondents in the results shown below are those within a well-defined target market. The accuracy of a survey of such a small group is barn door wide, but that's good enough to provide a meaningful indicator for ICity.
Here's more on surveys.
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