DEVELOP YOUR NEW PRODUCT IDEA LIKE A PROFESSIONAL
The cost of developing, protecting and commercializing a relatively simple invention idea is often more than $100,000 and can sometimes exceed $1,000,000. Invention City’s Leveraged Inventing program helps you offset that cost through possible licensing and crowdfunding.
Some invention ideas can be licensed at an early stage, others need to be highly refined and some can only get to market if you make and sell them yourself. The Leveraged Inventing track provides three opportunities for seeking a licensing deal. At the end of the track, if you have not entered into a deal, you will be positioned to launch a retail crowdfunding campaign to commercialize the product and place it into distribution at Amazon and beyond.
You are in control every step of the way up to entering into a possible licensing deal.
Step 1 is strongly recommended. We'd like you to have our honest assessment and recommendations at the outset (and a possible licensing deal offer). After that you can continue with any step, provided you have what is needed. If you already have assets such as images and patent filings, we are pleased to use them and will discount accordingly. You can opt for all steps or for a single step.
STEP 1 (required): Brutally Honest Review
- Evaluation of commercial potential - Inventicator Analysis
- Possible licensing deal #1. If we offer a deal, you pay nothing more.
STEP 2: Visualization & Documentation, Provisional Patent Application
- 3D images
- Written description of invention structure / process / method
- Provisional Patent Application
- PPS Survey - who wants to buy your invention
STEP 3: Messaging, Video, Survey, Licensing Pitch
- PowerPitch - refine the 10 second pitch
- Problem-solution video
- Survey of target market - what are they willing to pay and why
- Identify target licensees (direct contact)
- Templates for introductory and follow up emails to target licensees
- Possible licensing deal #2.
STEP 4: Crowdfunding for Refined Working Prototype
- Quote for refined prototype
- Create crowdfunding campaign at Indiegogo or Kickstarter
- Set up account to receive funds
- Simple website
- Facebook page
- Press release
- Adwords campaign
- Execute crowdfunding campaign
- Revised email template for follow-up (2nd pitch) to target licensees
- Possible licensing deal #3
- Negotiating, reviewing licensing deals
- Engineering, refining invention idea
- Sourcing, fulfilling backer rewards for crowdfunding campaign
- Contact and follow up with target licensees on behalf of inventor
- Other consulting
- Fees upon request
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